LAKE SHORE BANCORP, inc. (NASDAQ:LSBK) Files An 8-K Other Events
Item 8.01Other Events.
The Company’s Board of Directors reported that as of June 23, 2021 it had completed the repurchase of shares from the stock repurchase plan put in place during August 2020. The Company repurchased 111,949 shares under the plan at an average cost of $14.42 per share since the plan’s inception in August 2020.
About LAKE SHORE BANCORP, inc. (NASDAQ:LSBK)
Lake Shore Bancorp, Inc. is a savings and loan holding company of Lake Shore Savings Bank (the Bank). The Bank’s loan portfolio consists of real estate loans and other loans. The real estate loans consist of residential one- to four-family, home equity, commercial and construction loans. The Bank’s other loans consists of commercial and consumer loans. The Bank provides all-in-one home equity lines of credit to its customers. The Bank’s primary sources of funds consist of deposits, scheduled amortization and prepayments of loans and securities, maturities and sales of investments and loans, interest earning deposits at other financial institutions and funds provided from operations. The Company operates through over 10 branch offices. It has branches in Chautauqua County, New York, which are located in Dunkirk, Fredonia, Jamestown, Lakewood and Westfield. In Erie County, New York, its branch offices are located in Depew, East Amherst, Hamburg, Kenmore, Orchard Park and Snyder.