Overview

* Lake Shore Bancorp ( LSBK ) Q2 net income rises 72% yr/yr, driven by strategic balance sheet management

* Net interest income increased 17.6% yr/yr, contributing to improved financial performance

* Co completed conversion and stock offering, raising $49.5 mln for growth

Result Drivers

* NET INTEREST INCOME - Increased by 17.6% yr/yr, driven by strategic balance sheet management

* NON-INTEREST EXPENSES - Decreased due to efforts to optimize operating expenses

* REDUCED WHOLESALE FUNDING - Repayment of $8.3 mln in Federal Home Loan Bank of New York

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net $1.92

Income mln

Q2 Net $6.12

Interest mln

Income

Q2 Basic $0.34

EPS

Q2 Net 3.8%

Interest

Margin

Q2 $2.30

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)