| Parent Company Only Financial Information |
Note 17 – Parent Company Only Financial Information The following condensed financial statements summarize the financial position and results of operations and cash flows of the parent bank holding company, Lake Shore Bancorp, Inc., as of December 31, 2025 and 2024 and for the years ended December 31, 2025 and 2024. Statements of Financial Condition
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December 31, |
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2025 |
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2024 |
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(Dollars in thousands) |
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Assets |
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Cash and due from banks |
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$ |
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19,318 |
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$ |
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906 |
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Investment in subsidiary |
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116,993 |
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87,281 |
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ESOP loan receivable |
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4,961 |
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1,224 |
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Other assets |
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540 |
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607 |
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Total assets |
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$ |
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141,812 |
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$ |
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90,018 |
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Liabilities and Stockholders' Equity |
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Other liabilities |
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173 |
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150 |
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Total stockholders' equity |
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141,639 |
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89,868 |
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Total liabilities and stockholders' equity |
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$ |
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141,812 |
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$ |
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90,018 |
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Statements of Income
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For the Years Ended |
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December 31, |
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2025 |
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2024 |
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(Dollars in thousands) |
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Interest Income |
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$ |
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229 |
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$ |
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98 |
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Other |
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6 |
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6 |
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Total Income |
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235 |
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104 |
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Non-interest Expenses |
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427 |
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489 |
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Loss before income taxes and equity in undistributed net income of subsidiary |
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(192 |
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(385 |
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Income tax benefit |
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(69 |
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(99 |
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Loss before undistributed net income of subsidiary |
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(123 |
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(286 |
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Equity in undistributed net income of subsidiary |
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7,392 |
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5,217 |
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Net Income |
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$ |
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7,269 |
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$ |
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4,931 |
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Statements of Cash Flows
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For the Years Ended |
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December 31, |
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2025 |
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2024 |
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(Dollars in thousands) |
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Cash Flows from Operating Activities: |
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Net income |
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$ |
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7,269 |
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$ |
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4,931 |
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Adjustments to reconcile net income to net cash used in provided by operating activities: |
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ESOP shares committed to be released |
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263 |
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99 |
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Stock-based compensation expense |
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295 |
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246 |
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Increase in other assets |
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(137 |
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(426 |
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Increase in other liabilities |
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23 |
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33 |
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Equity in undistributed earnings of subsidiary |
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(7,392 |
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(5,217 |
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Net Cash Provided by (Used in) Operating Activities |
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321 |
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(334 |
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Cash Flows from Investing Activities: |
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Repayment of 2006 ESOP loan |
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1,224 |
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— |
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Origination of 2025 ESOP loan |
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(5,234 |
) |
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— |
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Payments received on 2025 and 2006 ESOP loan, respectively |
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273 |
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70 |
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Investment in subsidiary |
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(23,642 |
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— |
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Net Cash (Used in) Provided by Investing Activities |
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(27,379 |
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70 |
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Cash Flows from Financing Activities: |
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Purchase of common stock |
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(53 |
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(20 |
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Cash dividends paid |
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(1,676 |
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(1,082 |
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Proceeds from the sale of common stock, net of offering costs |
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47,199 |
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— |
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Net Cash Provided by (Used in) Financing Activities |
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45,470 |
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(1,102 |
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Net Increase (Decrease) in Cash and Cash Equivalents |
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18,412 |
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(1,366 |
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Cash and Cash Equivalents - Beginning |
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906 |
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2,272 |
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Cash and Cash Equivalents - Ending |
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$ |
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19,318 |
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$ |
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906 |
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