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1. Company Snapshot

1.a. Company Description

Lake Shore Bancorp, Inc.operates as the savings and loan holding company for Lake Shore Savings Bank that provides banking products and services.It accepts various deposit products, such as regular savings deposits, including Christmas Club and statement savings accounts; money market savings and checking accounts; interest bearing and non-interest bearing checking accounts, such as demand deposits; health savings accounts; retirement accounts; time deposits; interest on lawyer accounts; and accounts for individuals, as well as commercial savings, checking, and money market accounts for small to medium sized businesses.


The company's loan portfolio consists of commercial real estate, commercial construction, and home equity loans and lines of credit; commercial loans comprising business installment loans, lines of credit, and other commercial loans; one- to four-family residential mortgages; and consumer loans, such as personal consumer loans, overdraft lines of credit, vehicle loans, secured and unsecured property improvement loans, and other secured loans, as well as loans secured by certificates of deposit.As of February 11, 2022, it had eleven full-service branch locations in Western New York, including five locations in Chautauqua County and six locations in Erie County, New York.The company was founded in 1891 and is headquartered in Dunkirk, New York.


Lake Shore Bancorp, Inc.is a subsidiary of Lake Shore, MHC.

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1.b. Last Insights on LSBK

Lake Shore Bancorp, Inc.'s recent performance was driven by a robust Q2 earnings report, showcasing the company's best profit numbers in a decade. The bank's net interest margin and non-interest income both rose, while credit quality improved. A recent dividend declaration of $0.09 per share also underscores the company's financial stability. Furthermore, the successful mutual-to-stock conversion has enhanced investor confidence. With a strong financial position, Lake Shore Bancorp is well-positioned to navigate the competitive Western New York market.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Lake Shore Bancorp, Inc. Declares Dividend

Oct -24

Source: globenewswire.com

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Lake Shore Bancorp Looks Promising After Stock Conversion

Sep -11

Source: seekingalpha.com

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Lake Shore Bancorp, Inc. Announces Second Quarter 2025 Financial Results

Jul -23

Source: globenewswire.com

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Lake Shore Bancorp Announces Closing of Conversion Transaction

Jul -18

Source: globenewswire.com

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Lake Shore Bancorp Announces Closing Date of Conversion Transaction and Results of Stock Offering

Jul -08

Source: globenewswire.com

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Lake Shore Bancorp, Inc. Announces Results of Special Meetings of Stockholders and Members

Jul -01

Source: globenewswire.com

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Lake Shore Bancorp, Inc. Announces Commencement of Stock Offering

May -23

Source: globenewswire.com

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Lake Shore Bancorp, Inc. Announces First Quarter 2025 Financial Results

Apr -29

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Retail Banking

Expected Growth: 4.5%

Growing demand for digital banking, increasing adoption of online payment systems, and rising need for convenient financial services drive the growth of Lake Shore Bancorp's retail banking segment.

7. Detailed Products

Personal Banking

Lake Shore Bancorp, Inc. offers a range of personal banking services, including checking and savings accounts, credit cards, loans, and investment products.

Business Banking

The company provides business banking services, including commercial loans, cash management, and treasury management solutions.

Mortgage Lending

Lake Shore Bancorp, Inc. offers mortgage lending services, including residential and commercial mortgage loans.

Wealth Management

The company provides wealth management services, including investment management, trust services, and financial planning.

Online Banking

Lake Shore Bancorp, Inc. offers online banking services, including bill pay, fund transfers, and account management.

Mobile Banking

The company provides mobile banking services, including mobile deposit, bill pay, and account management.

8. Lake Shore Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Lake Shore Bancorp, Inc. is medium due to the presence of alternative financial institutions and online banking services.

Bargaining Power Of Customers

The bargaining power of customers for Lake Shore Bancorp, Inc. is low due to the lack of concentration of buyers and the availability of multiple banking options.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Lake Shore Bancorp, Inc. is medium due to the presence of multiple suppliers of financial services and technology.

Threat Of New Entrants

The threat of new entrants for Lake Shore Bancorp, Inc. is high due to the ease of entry into the banking industry and the presence of fintech companies.

Intensity Of Rivalry

The intensity of rivalry for Lake Shore Bancorp, Inc. is high due to the presence of multiple competitors in the banking industry and the need to differentiate itself through innovative products and services.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 29.18%
Debt Cost 6.41%
Equity Weight 70.82%
Equity Cost 6.41%
WACC 6.41%
Leverage 41.20%

11. Quality Control: Lake Shore Bancorp, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Northeast Bank

A-Score: 6.1/10

Value: 6.8

Growth: 8.8

Quality: 7.5

Yield: 0.0

Momentum: 7.5

Volatility: 6.0

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Old Second Bancorp

A-Score: 6.0/10

Value: 5.8

Growth: 7.6

Quality: 5.9

Yield: 2.0

Momentum: 7.0

Volatility: 7.7

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NBT Bancorp

A-Score: 6.0/10

Value: 6.0

Growth: 5.0

Quality: 7.4

Yield: 6.0

Momentum: 3.5

Volatility: 8.0

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Lake Shore Bancorp

A-Score: 5.8/10

Value: 5.7

Growth: 4.0

Quality: 7.0

Yield: 6.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

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First Bancshares

A-Score: 5.5/10

Value: 5.5

Growth: 4.7

Quality: 6.9

Yield: 4.0

Momentum: 6.0

Volatility: 6.0

1-Year Total Return ->

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Sound Financial Bancorp

A-Score: 5.3/10

Value: 5.6

Growth: 3.9

Quality: 6.9

Yield: 4.0

Momentum: 1.5

Volatility: 9.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

14.86$

Current Price

14.86$

Potential

-0.00%

Expected Cash-Flows