An update from Lake Shore Bancorp ( (LSBK) ) is now available.
On March 11, 2025, Lake Shore Savings Bank entered into an employment agreement with Taylor M. Gilden, its Chief Financial Officer and Treasurer, with terms extending until December 16, 2027, and provisions for annual renewal. The agreement includes a base salary, potential bonuses, and severance packages under specific conditions, along with non-compete clauses. Additionally, Lake Shore, MHC, and the Bank amended their Plan of Conversion and Reorganization to increase purchase limits, and the Board of Directors decided to suspend cash dividends pending the completion of a second-step conversion to prevent dilution of public stockholders’ interests. The company plans to resume dividends post-conversion, subject to various conditions.
More about Lake Shore Bancorp
Lake Shore Bancorp, Inc. operates in the banking industry through its wholly owned subsidiary, Lake Shore Savings Bank. The company provides a range of financial services and products, focusing on community banking and serving individual and business clients.
YTD Price Performance: 19.63%
Average Trading Volume: 4,560
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $91.79M
Find detailed analytics on LSBK stock on TipRanks’ Stock Analysis page.