Lake Shore Bancorp, Inc. (LSBK) 10-Year Financial Performance & Capital Metrics

LSBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutLake Shore Bancorp, Inc. operates as the savings and loan holding company for Lake Shore Savings Bank that provides banking products and services. It accepts various deposit products, such as regular savings deposits, including Christmas Club and statement savings accounts; money market savings and checking accounts; interest bearing and non-interest bearing checking accounts, such as demand deposits; health savings accounts; retirement accounts; time deposits; interest on lawyer accounts; and accounts for individuals, as well as commercial savings, checking, and money market accounts for small to medium sized businesses. The company's loan portfolio consists of commercial real estate, commercial construction, and home equity loans and lines of credit; commercial loans comprising business installment loans, lines of credit, and other commercial loans; one- to four-family residential mortgages; and consumer loans, such as personal consumer loans, overdraft lines of credit, vehicle loans, secured and unsecured property improvement loans, and other secured loans, as well as loans secured by certificates of deposit. As of February 11, 2022, it had eleven full-service branch locations in Western New York, including five locations in Chautauqua County and six locations in Erie County, New York. The company was founded in 1891 and is headquartered in Dunkirk, New York. Lake Shore Bancorp, Inc. is a subsidiary of Lake Shore, MHC.Show more

Net Interest Income $21M -13.5%
Total Revenue $38M +4.7%
Net Income $5M +2.3%
Return on Equity 5.6% -2.7%
Net Interest Margin 3.07% -8.5%
Efficiency Ratio 52.43% -12.5%
ROA 0.7% +3.3%
Equity / Assets 13.11% +10.2%
Book Value per Share 11.80 +8.5%
Tangible BV/Share 11.77 +8.3%
Debt/Equity 0.11 -72.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 52.4% efficiency ratio
✓Well capitalized: 13.1% equity/assets
✓Share count reduced 4.0% through buybacks
✓Trading near 52-week high
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.6%

5Y7.33%

3Y11.02%

TTM-

Profit (Net Income) CAGR

10Y4.56%

5Y3.83%

3Y-7.28%

TTM29.82%

EPS CAGR

10Y4.72%

5Y5.39%

3Y-14.77%

TTM32.23%

ROCE

10Y Avg4.61%

5Y Avg5.16%

3Y Avg5.16%

Latest4.76%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	14.83M	15.22M	16.78M	17.93M	19.07M	19.93M	21.99M	24.34M	24.36M	21.06M
NII Growth %	0.02%	0.03%	0.1%	0.07%	0.06%	0.05%	0.1%	0.11%	0%	-0.14%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	17.59M	17.52M	19.41M	21.54M	24.27M	24.34M	24.66M	26.75M	33.76M	34.8M
Interest Expense	2.76M	2.29M	2.63M	3.6M	5.2M	4.4M	2.67M	2.42M	9.4M	13.74M
Loan Loss Provision	400K	1.13M	510K	390K	900K	1.63M	650K	725K	-1.04M	-1.48M
Non-Interest Income+	2.71M	4.07M	2.65M	2.47M	2.49M	2.99M	3.19M	2.7M	2.63M	3.3M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	20.29M	21.59M	22.06M	24.01M	26.76M	27.33M	27.85M	29.46M	36.39M	38.11M
Revenue Growth %	0.01%	0.06%	0.02%	0.09%	0.11%	0.02%	0.02%	0.06%	0.24%	0.05%
Non-Interest Expense	13.08M	13.88M	14.36M	15.43M	15.92M	15.92M	17.06M	19.45M	21.82M	19.98M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	4.05M	4.29M	4.56M	4.58M	4.74M	5.38M	7.47M	6.87M	6.21M	5.87M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.09%	0.06%	0.06%	0%	0.03%	0.13%	0.39%	-0.08%	-0.1%	-0.06%
Pretax Income+	4.05M	4.29M	4.56M	4.58M	4.74M	5.38M	7.47M	6.87M	6.22M	5.87M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	716K	775K	1.19M	585K	655K	824K	1.29M	1.16M	1.4M	935K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.34M	3.52M	3.38M	4M	4.09M	4.56M	6.19M	5.71M	4.82M	4.93M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.06%	0.05%	-0.04%	0.18%	0.02%	0.12%	0.36%	-0.08%	-0.16%	0.02%
Net Income (Continuing)	3.34M	3.52M	3.38M	4M	4.09M	4.56M	6.19M	5.71M	4.82M	4.93M
EPS (Diluted)+	0.42	0.43	0.41	0.49	0.50	0.56	1.05	0.72	0.61	0.65
EPS Growth %	0.02%	0.02%	-0.05%	0.2%	0.02%	0.12%	0.88%	-0.31%	-0.15%	0.07%
EPS (Basic)	0.42	0.43	0.41	0.49	0.50	0.56	1.05	0.72	0.61	0.65
Diluted Shares Outstanding	8.02M	8.16M	8.29M	8.25M	8.13M	8.07M	7.98M	7.97M	7.93M	7.62M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	20.01M	14.98M	14.28M	12.12M	30.29M	42.98M	67.58M	9.63M	53.73M	33.13M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	410.31M	412.7M	445.48M	478.66M	542.02M	603.43M	606.02M	646.58M	616.27M	601.12M
Investments Growth %	-0.03%	0.01%	0.08%	0.07%	0.13%	0.11%	0%	0.07%	-0.05%	-0.02%
Long-Term Investments	297.1M	326.37M	365.06M	392.47M	470.82M	524.2M	517.23M	573.54M	555.83M	544.62M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	177K
PP&E (Net)	9.14M	8.75M	9.37M	9.42M	9.41M	8.97M	8.74M	8.29M	7.87M	7.22M
Other Assets	32.27M	51.15M	48.04M	43.59M	27M	27.84M	28.91M	32.62M	44.41M	41.04M
Total Current Assets	134.87M	102.91M	96.5M	100.23M	103.64M	125.19M	158.87M	85.48M	117.01M	92.44M
Total Non-Current Assets	338.51M	386.26M	422.48M	445.48M	507.23M	561M	554.87M	614.44M	608.11M	593.06M
Total Assets+	473.38M	489.17M	518.98M	545.71M	610.87M	686.2M	713.74M	699.91M	725.12M	685.5M
Asset Growth %	-0.03%	0.03%	0.06%	0.05%	0.12%	0.12%	0.04%	-0.02%	0.04%	-0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	21.15M	18.95M	26.95M	24.65M	34.65M	29.75M	21.95M	37.55M	35.25M	10.25M
Net Debt	1.14M	3.97M	12.67M	12.53M	4.36M	-13.22M	-45.63M	27.91M	-18.48M	-22.88M
Long-Term Debt	21.15M	18.95M	26.95M	24.65M	34.65M	29.75M	21.95M	24.95M	35.25M	10.25M
Short-Term Debt	0	0	0	0	0	0	0	12.6M	0	0
Other Liabilities	9.2M	8.3M	8.5M	8.8M	9.9M	10.27M	10.63M	11.06M	12.67M	12.41M
Total Current Liabilities	369.15M	385.89M	405.15M	432.46M	483.48M	560.26M	593.18M	582.72M	590.92M	572.98M
Total Non-Current Liabilities	30.35M	27.25M	35.45M	33.45M	44.55M	40.02M	32.58M	36.02M	47.92M	22.66M
Total Liabilities	399.51M	413.14M	440.6M	465.9M	528.03M	600.28M	625.76M	618.73M	638.85M	595.64M
Total Equity+	73.88M	76.03M	78.38M	79.8M	82.84M	85.92M	87.98M	81.18M	86.27M	89.87M
Equity Growth %	0.03%	0.03%	0.03%	0.02%	0.04%	0.04%	0.02%	-0.08%	0.06%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.05%	0.04%	0.05%	0.05%	0.05%	0.07%	0.07%	0.06%	0.06%
Book Value per Share	9.21	9.32	9.45	9.68	10.19	10.65	11.03	10.19	10.87	11.80
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	67K	68K	68K	68K	68K	68K	68K	68K	68K	68K
Additional Paid-in Capital	29.36M	30.53M	30.72M	30.92M	31.08M	31.2M	31.35M	31.46M	31.46M	31.51M
Retained Earnings	50.92M	53.55M	56.18M	59.15M	61.95M	65.49M	70.59M	74.86M	78.96M	82.81M
Accumulated OCI	2.84M	1.38M	791K	129K	1.33M	2.15M	978K	-10.33M	-9.38M	-9.96M
Treasury Stock	-7.03M	-7.3M	-7.31M	-8.8M	-10.18M	-11.58M	-13.66M	-13.57M	-13.76M	-13.3M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.96M	4.29M	5.83M	6.11M	5.84M	5.6M	8.55M	8.21M	6.21M	2.51M
Operating CF Growth %	0.14%	-0.13%	0.36%	0.05%	-0.05%	-0.04%	0.53%	-0.04%	-0.24%	-0.6%
Net Income	3.34M	3.52M	3.38M	4M	4.09M	4.56M	6.19M	5.71M	4.82M	4.93M
Depreciation & Amortization	834K	865K	852K	774K	809K	840K	865K	1.35M	807K	739K
Deferred Taxes	257K	-222K	219K	135K	-41K	-492K	217K	-187K	17K	128K
Other Non-Cash Items	670K	108K	928K	989K	1.56M	2.31M	1.07M	400K	-331K	-1.13M
Working Capital Changes	-463K	-297K	-116K	-359K	-1.02M	-1.93M	-167K	603K	789K	-2.51M
Cash from Investing+	9.91M	-7.25M	-36.46M	-39.09M	-64.73M	-62.14M	-5.74M	-57.2M	19.52M	21.12M
Purchase of Investments	0	0	-13.22M	-16.17M	-2.27M	-27.96M	-29.96M	-6.14M	0	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-13.5M	-33.05M	-40.27M	-31.53M	-80.48M	-54.69M	6.03M	-58.16M	6.21M	17.91M
Cash from Financing+	-16.46M	14.21M	26.07M	22.81M	58.43M	69.22M	21.8M	-8.95M	18.37M	-44.22M
Dividends Paid	-611K	-888K	-743K	-880K	-1.27M	-1.02M	-1.08M	-1.44M	0	-1.08M
Share Repurchases	-746K	-455K	-269K	-1.45M	-1.42M	-1.59M	-2.25M	-85K	-58K	-20K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	-17.3M	17.75M	19.08M	27.44M	51.12M	76.73M	32.94M	-22.95M	20.8M	-18.03M
Net Change in Cash+	-1.58M	11.25M	-4.57M	-10.16M	-462K	12.69M	24.61M	-57.95M	44.1M	-20.6M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	35.81M	34.23M	45.48M	40.91M	30.75M	30.29M	42.98M	67.58M	9.63M	53.73M
Cash at End	34.23M	45.48M	40.91M	30.75M	30.29M	42.98M	67.58M	9.63M	53.73M	33.13M
Interest Paid	2.76M	0	2.6M	3.6M	5.18M	4.41M	2.68M	2.4M	8.63M	14.47M
Income Taxes Paid	580K	0	920K	529K	770K	1.1M	1.35M	975K	1.32M	1.11M
Free Cash Flow+	4.5M	3.83M	4.35M	5.3M	5.03M	5.2M	7.92M	7.8M	5.81M	2.51M
FCF Growth %	0.21%	-0.15%	0.14%	0.22%	-0.05%	0.04%	0.52%	-0.02%	-0.25%	-0.57%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.59%	4.69%	4.38%	5.06%	5.03%	5.4%	7.12%	6.75%	5.76%	5.6%
Return on Assets (ROA)	0.69%	0.73%	0.67%	0.75%	0.71%	0.7%	0.88%	0.81%	0.68%	0.7%
Net Interest Margin	3.13%	3.11%	3.23%	3.29%	3.12%	2.9%	3.08%	3.48%	3.36%	3.07%
Efficiency Ratio	64.47%	64.29%	65.09%	64.28%	59.49%	58.24%	61.25%	66.02%	59.95%	52.43%
Equity / Assets	15.61%	15.54%	15.1%	14.62%	13.56%	12.52%	12.33%	11.6%	11.9%	13.11%
Book Value / Share	9.21	9.32	9.45	9.68	10.19	10.65	11.03	10.19	10.87	11.8
NII Growth	2.06%	2.66%	10.21%	6.89%	6.33%	4.52%	10.35%	10.66%	0.08%	-13.53%
Dividend Payout	18.3%	25.26%	22%	22%	31.12%	22.38%	17.52%	25.23%	-	21.94%

Frequently Asked Questions

Valuation & Price

Lake Shore Bancorp, Inc. (LSBK) has a price-to-earnings (P/E) ratio of 23.7x. This is roughly in line with market averages.

Growth & Financials

Lake Shore Bancorp, Inc. (LSBK) grew revenue by 4.7% over the past year. Growth has been modest.

Yes, Lake Shore Bancorp, Inc. (LSBK) is profitable, generating $5.8M in net income for fiscal year 2024 (12.9% net margin).

Dividend & Returns

Yes, Lake Shore Bancorp, Inc. (LSBK) pays a dividend with a yield of 0.92%. This makes it attractive for income-focused investors.

Lake Shore Bancorp, Inc. (LSBK) has a return on equity (ROE) of 5.6%. This is below average, suggesting room for improvement.

Industry Metrics

Lake Shore Bancorp, Inc. (LSBK) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

Lake Shore Bancorp, Inc. (LSBK) has an efficiency ratio of 52.4%. This is excellent, indicating strong cost control.

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