Lake Shore Bancorp, Inc., the holding company for Lake Shore Savings Bank (the “Bank”), announced this week that the Board of Directors declared a cash dividend of 18 cents per share on its outstanding common stock on Jan. 27. The dividend is expected to be paid on Feb. 14 to stockholders of record as of Feb. 10. The Company received the written approval from the Federal Reserve Bank of Philadelphia to pay a cash dividend to its stockholders.

Lake Shore Bancorp, Inc. is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has 10 full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”.