Lake Shore Bancorp (LSBK) to Buyback 5% of Outstanding Shares

August 28, 2008 11:27 AM EDT

Lake Shore Bancorp, Inc. (NASDAQ: LSBK) announced today that its Board has authorized a new program to repurchase up to 135,541 shares of the Company's common stock. This amount represents 5% of the Company's outstanding common stock that is not owned by Lake Shore, MHC, as of August 27, 2008.

Lake Shore Bancorp, Inc. operates as the holding company for Lake Shore Savings Bank, which engages in the retail banking business in Erie and Chautauqua Counties of New York.


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