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Lake Shore Bancorp announces first quarter net income, expands branch network

May 13, 2013
The OBSERVER

Lake Shore Bancorp, Inc., the holding company for Lake Shore Savings Bank, announced first quarter 2013 net income of $906,000, or $0.16 per diluted share, compared to net income of $1.0 million, or $0.18 per diluted share, for the first quarter of 2012. The lower net income, as compared to first quarter 2012, was primarily due to a modest decrease in net interest income during 2013, as well as an $80,000 increase in the provision for loan losses in the first quarter of 2013 as compared to the first quarter of 2012.

 
 

 

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