---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-046214"
form_type: "8-K"
ticker: null
cik: "0001341318"
company_name: "LAKE SHORE BANCORP, INC."
filed_at: "2024-04-22T23:59:59+00:00"
generated_at: "2026-06-03T13:37:08.266552+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lake Shore Bancorp Q1 net income falls 39.8% to $1.0M; dividend waiver approved up to $0.72/share

## Summary
- Net income $1.0M ($0.17 diluted EPS) vs $1.7M ($0.29) in Q1 2023, down 39.8%.
- Net interest margin narrowed to 3.10% from 3.76% YoY; net interest income fell 18.4% to $5.1M.
- MHC members approved waiver of dividends allowing up to $0.72/share over next year, pending Fed non-objection.
- Total deposits rose $3.8M (0.6%) to $594.7M; repaid $11M brokered CDs and $10M FHLBNY borrowings.
- Non-interest expense down $522K (9.5%) led by lower professional services; NPA ratio rose to 0.55%.

## SEC filing metadata
- accession: 0000950170-24-046214
- form_type: 8-K
- cik: 0001341318
- company_name: LAKE SHORE BANCORP, INC.
- filed_at: 2024-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1341318/000095017024046214/0000950170-24-046214-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1341318/000095017024046214/lsbk-20240422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-046214
- JSON: https://secwatch.observer/filing/0000950170-24-046214.json
- Plain text: https://secwatch.observer/filing/0000950170-24-046214.txt

## Key facts
- Earnings Releases
  LAKE SHORE BANCORP, INC. reported the 2024 first quarter results: net income $1.0 million, or $0.17 per diluted share, EPS $0.17 per diluted share.
  - Period: the 2024 first quarter
  - Net income: $1.0 million, or $0.17 per diluted share
  - EPS: $0.17 per diluted share
  - Result: reported results
  source text: Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), reported unaudited net income of $1.0 million, or $0.17 per diluted share, for the 2024 first quarter compared to net income of $1.7 million, or $0.29 per diluted share, for the 2023 first quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1341318/000095017024046214/0000950170-24-046214-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.