Net interest income reached $6.7 million in 2026Q1, though operational efficiency remains challenged by an efficiency ratio that has fluctuated between 46.5% and 54.6% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Net Interest Income | 25.76M | 24.56M | 21.06M | 24.36M | 24.34M | 21.99M | 19.93M | 19.07M | 17.93M | 16.78M | 15.22M | 14.83M | 14.53M | 15.06M | 15.05M | 15.13M | 13.61M | 11.76M | 11.21M | 9.49M | 9.73M | 9.53M | 9.41M |
| NII Growth % | 81.53% | 16.62% | -13.53% | 0.08% | 10.66% | 10.35% | 4.52% | 6.33% | 6.89% | 10.21% | 2.66% | 2.06% | -3.5% | 0.07% | -0.54% | 11.16% | 15.69% | 4.99% | 18.08% | -2.47% | 2.09% | 1.25% | - |
| Net Interest Margin % | 3.57% | 3.38% | 3.07% | 3.36% | 3.48% | 3.08% | 2.9% | 3.12% | 3.29% | 3.23% | 3.11% | 3.13% | 2.98% | 3.12% | 3.12% | 3.1% | 2.84% | 2.76% | 2.75% | 2.65% | 2.75% | 2.86% | 2.85% |
| Interest Income | 36.97M | 36.28M | 34.8M | 33.76M | 26.75M | 24.66M | 24.34M | 24.27M | 21.54M | 19.41M | 17.52M | 17.59M | 17.88M | 18.61M | 19.65M | 20.77M | 19.93M | 19.69M | 19.98M | 18.62M | 17.77M | 15.96M | 14.74M |
| Interest Expense | 11.21M | 11.72M | 13.74M | 9.4M | 2.42M | 2.67M | 4.4M | 5.2M | 3.6M | 2.63M | 2.29M | 2.76M | 3.35M | 3.56M | 4.6M | 5.64M | 6.32M | 7.93M | 8.78M | 9.13M | 8.04M | 6.43M | 5.33M |
| Loan Loss Provision | -382K | -221K | -1.48M | -1.04M | 725K | 650K | 1.63M | 900K | 390K | 510K | 1.13M | 400K | 222K | 105K | 656K | 415K | 2.12M | 265K | 391K | 105K | 158K | 20K | 267K |
| Non-Interest Income | 3.25M | 3.27M | 3.3M | 2.63M | 2.7M | 3.19M | 2.99M | 2.49M | 2.47M | 2.65M | 4.07M | 2.71M | 2.23M | 2.09M | 2.03M | 1.67M | 3.45M | 2.42M | 2.53M | 2M | 1.8M | 1.85M | -7.27M |
| Non-Interest Income % | 8.08% | 8.27% | 8.67% | 7.24% | 9.18% | 11.45% | 10.95% | 9.31% | 10.3% | 12.03% | 18.85% | 13.34% | 11.11% | 10.1% | 9.36% | 7.43% | 14.77% | 10.92% | 11.25% | 9.71% | 9.22% | 10.37% | -97.27% |
| Total Revenue | 40.22M | 39.55M | 38.11M | 36.39M | 29.46M | 27.85M | 27.33M | 26.76M | 24.01M | 22.06M | 21.59M | 20.29M | 20.11M | 20.71M | 21.68M | 22.43M | 23.38M | 22.11M | 22.52M | 20.62M | 19.58M | 17.8M | 7.47M |
| Revenue Growth % | 24.74% | 3.79% | 4.72% | 23.53% | 5.79% | 1.9% | 2.13% | 11.45% | 8.82% | 2.2% | 6.38% | 0.89% | -2.86% | -4.49% | -3.35% | -4.06% | 5.75% | -1.82% | 9.18% | 5.34% | 9.98% | 138.2% | - |
| Non-Interest Expense | 19.55M | 19.31M | 19.98M | 21.82M | 19.45M | 17.06M | 15.92M | 15.92M | 15.43M | 14.36M | 13.88M | 13.08M | 12.82M | 12.33M | 11.81M | 11.31M | 11.53M | 11.04M | 11.54M | 9.12M | 8.65M | 8.35M | -1.21M |
| Efficiency Ratio | 48.61% | 48.81% | 52.43% | 59.95% | 66.02% | 61.25% | 58.24% | 59.49% | 64.28% | 65.09% | 64.29% | 64.47% | 63.73% | 59.57% | 54.48% | 50.41% | 49.33% | 49.91% | 51.23% | 44.21% | 44.16% | 46.9% | -16.14% |
| Operating Income | 9.84M | 8.75M | 5.87M | 6.21M | 6.87M | 7.47M | 5.38M | 4.74M | 4.58M | 4.56M | 4.29M | 4.05M | 3.73M | 4.71M | 4.61M | 5.07M | 3.42M | 2.88M | 1.81M | 2.27M | 2.73M | 3.01M | 3.08M |
| Operating Margin % | 24.47% | 22.12% | 15.39% | 17.07% | 23.32% | 26.84% | 19.69% | 17.72% | 19.1% | 20.68% | 19.87% | 19.98% | 18.52% | 22.75% | 21.26% | 22.62% | 14.61% | 13.02% | 8.05% | 11% | 13.94% | 16.89% | 41.22% |
| Operating Income Growth % | - | 49.18% | -5.57% | -9.58% | -8.09% | 38.89% | 13.5% | 3.42% | 0.48% | 6.36% | 5.82% | 8.83% | -20.93% | 2.19% | -9.13% | 48.51% | 18.65% | 58.89% | -20.11% | -16.92% | -9.21% | -2.4% | - |
| Pretax Income | 9.84M | 8.75M | 5.87M | 6.22M | 6.87M | 7.47M | 5.38M | 4.74M | 4.58M | 4.56M | 4.29M | 4.05M | 3.73M | 4.71M | 4.61M | 5.07M | 3.42M | 2.88M | 1.81M | 2.27M | 2.73M | 3.01M | 3.08M |
| Pretax Margin % | 24.47% | 22.12% | 15.39% | 17.09% | 23.32% | 26.84% | 19.69% | 17.72% | 19.1% | 20.68% | 19.87% | 19.98% | 18.52% | 22.75% | 21.26% | 22.62% | 14.61% | 13.02% | 8.05% | 11% | 13.94% | 16.89% | 41.22% |
| Income Tax | 1.71M | 1.48M | 935K | 1.4M | 1.16M | 1.29M | 824K | 655K | 585K | 1.19M | 775K | 716K | 567K | 968K | 984K | 1.39M | 373K | 718K | 342K | 451K | 911K | 953K | 902K |
| Effective Tax Rate % | 17.34% | 16.94% | 15.94% | 22.5% | 16.91% | 17.23% | 15.31% | 13.81% | 12.76% | 25.97% | 18.07% | 17.66% | 15.22% | 20.55% | 21.34% | 27.46% | 10.92% | 24.94% | 18.87% | 19.89% | 33.37% | 31.69% | 29.28% |
| Net Income | 8.13M | 7.27M | 4.93M | 4.82M | 5.71M | 6.19M | 4.56M | 4.09M | 4M | 3.38M | 3.52M | 3.34M | 3.16M | 3.74M | 3.63M | 3.68M | 3.04M | 2.16M | 1.47M | 1.82M | 1.82M | 2.05M | 2.18M |
| Net Margin % | 20.23% | 18.38% | 12.94% | 13.25% | 19.38% | 22.22% | 16.68% | 15.27% | 16.66% | 15.31% | 16.28% | 16.45% | 15.7% | 18.08% | 16.73% | 16.41% | 13.02% | 9.77% | 6.53% | 8.81% | 9.29% | 11.54% | 29.15% |
| Net Income Growth % | 63.55% | 47.41% | 2.3% | -15.56% | -7.74% | 35.74% | 11.52% | 2.17% | 18.41% | -3.9% | 5.3% | 5.7% | -15.63% | 3.23% | -1.47% | 20.93% | 40.81% | 47.01% | -19.1% | -0.11% | -11.44% | -5.74% | - |
| Net Income (Continuing) | 8.13M | 7.27M | 4.93M | 4.82M | 5.71M | 6.19M | 4.56M | 4.09M | 4M | 3.38M | 3.52M | 3.34M | 3.16M | 3.74M | 3.63M | 3.68M | 3.04M | 2.16M | 1.47M | 1.82M | 1.82M | 2.05M | 2.18M |
| EPS (Diluted) | 1.10 | 0.96 | 0.65 | 0.61 | 0.72 | 1.05 | 0.56 | 0.50 | 0.49 | 0.41 | 0.43 | 0.42 | 0.41 | 0.48 | 0.47 | 0.48 | 0.39 | 0.27 | 0.18 | 0.21 | 0.21 | 0.24 | 0.25 |
| EPS Growth % | 68.75% | 47.69% | 6.56% | -15.28% | -31.43% | 87.5% | 12% | 2.04% | 19.51% | -4.65% | 2.38% | 2.44% | -14.58% | 2.13% | -2.08% | 23.08% | 44.44% | 50% | -14.29% | 0% | -12.5% | -4% | - |
| EPS (Basic) | - | 0.96 | 0.65 | 0.61 | 0.72 | 1.05 | 0.56 | 0.50 | 0.49 | 0.41 | 0.43 | 0.42 | 0.41 | 0.49 | 0.47 | 0.48 | 0.39 | 0.27 | 0.18 | 0.21 | 0.21 | 0.24 | 0.25 |
| Diluted Shares Outstanding | 7.4M | 7.44M | 7.62M | 7.93M | 7.97M | 7.98M | 8.07M | 8.13M | 8.25M | 8.29M | 8.16M | 8.02M | 7.83M | 7.75M | 7.74M | 7.72M | 7.84M | 7.99M | 8.19M | 8.37M | 8.96M | 8.56M | 8.72M |
Geographic concentration in Western NY
As reported in recent financial filings, Lake Shore Bancorp's net interest income has demonstrated a clear upward trajectory, reaching $6.7 million in 2026Q1, which represents a significant 21.9% year-over-year growth rate compared to the contractionary trends observed throughout the 2024 fiscal year.
The recent acceleration in net interest income suggests that the bank is successfully navigating the interest rate environment, likely benefiting from the repricing of its loan portfolio. Investors should monitor whether this growth is sustainable or if it reflects a temporary benefit from asset-sensitive positioning that may face headwinds if deposit costs continue to climb.
Based on the provided quarterly data, the bank's net interest margin has remained stubbornly low, hovering between 0.7% and 0.9% over the last ten quarters, which suggests that competitive pressures in the local deposit market are effectively neutralizing gains from higher-yielding loan assets.
The lack of meaningful expansion in NIM despite rising interest rates implies that the bank's funding costs are rising in lockstep with asset yields. This structural limitation warrants further investigation into the bank's deposit beta and whether its reliance on a legacy retail base is becoming a liability in a higher-rate environment.
According to the latest income statement data, the efficiency ratio has fluctuated between 46.5% and 54.6% over the past ten quarters, indicating that the bank's fixed cost base remains a significant drag on operating leverage despite recent improvements in top-line revenue generation.
The inability to consistently drive the efficiency ratio below the 45% threshold suggests that the bank's 11-branch footprint may be creating a structural ceiling on profitability. Management appears to be struggling to achieve meaningful scale, which may necessitate a more aggressive digital transformation or consolidation strategy to improve long-term operating margins.
As indicated by the quarterly income statements, the bank has frequently recorded negative provision expenses, including a $113,000 credit in 2026Q1, which suggests that historical loss assumptions may be overly conservative or that the bank is benefiting from significant recoveries in its loan portfolio.
The reliance on negative provisions to bolster net income may indicate that the bank's credit quality is currently pristine, but it also introduces volatility into the bottom line. Investors should monitor whether these reversals are sustainable or if they represent a temporary accounting benefit that could reverse if local economic conditions in Chautauqua County deteriorate.
Quick answers to the most common questions about buying LSBK stock.
Lake Shore Bancorp, Inc. (LSBK) is profitable, generating $7.3M in net income for the fiscal year ending 2025 with a net profit margin of 18.4%.
Lake Shore Bancorp, Inc. (LSBK) reported an operating income of $8.8M, resulting in an operating profit margin of 22.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Lake Shore Bancorp, Inc. (LSBK) generated $28.1M in gross profit for the year, representing a gross profit margin of 70.9%. This demonstrates the company's core pricing power and production efficiency.