Lake Shore Bancorp (LSBK) Declares $0.07 Quarterly Dividend; 2.1% Yield
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Lake Shore Bancorp, Inc. Reports First Quarter 2016 Earnings and Declares Dividend
April 27, 2016 2:15 PM EDTDUNKIRK, N.Y., April 27, 2016 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (the Company) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the Bank), announced first quarter 2016 net income of $2.0 million, or $0.33 per diluted share, compared to net income of $569,000, or $0.10 per diluted share, for the first quarter 2015. The increase in net income reflected increased net interest income and non-interest income.  The first quarter 2016 results included a $1.1 million after-tax gain on the sale of securities. Excluding the $1.1 million gain on the sale of securities, first quarter 2016 net income was $874,000, or $0.15 per diluted share.Â
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