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what it is
Lake Shore is a small New York savings bank that takes deposits, makes loans, and earns the spread between the two.
how it gets paid
Last year Lake Shore Bancorp had about $28M in revenue on the segment roll-up below. Commercial real estate loans were the main engine at $9.81M, or ~35% of that mix.
what just happened
Prior copy claimed $27M quarterly revenue (almost the full ~$28M year) and $0.70 quarterly EPS (incompatible with ~$0.97 trailing)—treat those as bad scrapes; use EDGAR for the clean quarter.
At a glance
B+ balance sheet — decent shape, but not bulletproof
80/100 earnings predictability — you can trust these numbers
15.9x trailing p/e — the market's not buying it — or you found a deal
2.3% dividend yield — cash in your pocket every quarter
$0.97 trailing EPS (aligned to KPI row)
xvary composite: 66/100 — average
What they do
Lake Shore is a small New York savings bank that takes deposits, makes loans, and earns the spread between the two.
This is a local bank moat, not a national one. You keep your checking account, mortgage, and small-business line in one place because moving your money is annoying, and Lake Shore has kept that machine steady enough to earn an 85/100 price stability score with just 93 employees. Tiny scale is the edge and the limit.
How they make money
~$28M
annual revenue (segment roll-up)
commercial real estate loans
$9.81M
residential mortgages
$5.88M
commercial business loans
$4.76M
home equity loans and lines
$3.92M
consumer loans and deposit fees
$3.65M
The products that matter
earns spread on loans and deposits
Net interest income
$23.5M · 84% of revenue
this is the main engine. $23.5M of the $28.02M total comes from the gap between what the bank earns on loans and pays on deposits.
core earnings
fees and other banking income
Non-interest income
$4.5M · 16% of revenue
this piece matters because it gives you at least some diversification, but at $4.5M it is too small to offset a real squeeze in lending economics.
secondary support
Key numbers
15.9x
trailing p/e
Price-to-earnings ratio → what investors pay for each dollar of profit → so what: you are paying a market-like multiple for a very small bank.
$0.97
trailing eps
Earnings per share → profit per share → so what: this is the base that supports the stock price and the dividend.
2.3%
dividend yield
Dividend yield → annual cash payout on your share price → so what: the income is real, but it is not high enough to rescue a bad thesis.
$10M
long-term debt
Long-term debt → money owed over years → so what: debt is just 8% of capital, which gives this small bank some balance-sheet breathing room.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 85 / 100
- long-term debt $10M (8% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for LSBK right now.
source: institutional data · return history unavailable
What just happened
reconcile EDGAR
Prior headline: $27M “quarterly” revenue and $0.70 EPS—both fight the ~$28M annual segment total and ~$0.97 trailing EPS.
A real quarter here should sit near ~$7M (order of magnitude, one-fourth of ~$28M). Ignore triple-digit vs. prior year percent headlines until you confirm the base period (conversion, restatement, or one-offs).
~$28M
annual revenue
~$0.97
trailing EPS
~$7M
qtr revenue (approx.)
the number that mattered
Coherence: ~$23.5M NII inside ~$28M revenue (per product cards) is believable; $27M in one quarter is not.
source: company earnings report, 2026
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What could go wrong
Your biggest risk is post-conversion normalization. This stock is new, the earnings base is small, and cheap-to-book stories stop looking cheap fast if the first clean quarters do not repeat.
med
post-conversion normalization
The stock gained 30% this year after the July 2025 conversion. Newly public thrifts often get an early rerating, then spend the next few quarters proving the business deserves it.
If quarterly net income slips back toward the prior $1.1M level instead of holding near $1.9M, the 0.80x book discount may not close at all.
med
single-region exposure
You own a western New York bank. There is no geographic diversification story here. Local credit quality, loan demand, and deposit competition matter more than national banking headlines.
That exposure runs through almost the entire business because total revenue is only $28.02M and most of it is tied to local lending activity.
med
net interest margin pressure
Net interest income is $23.5M, or 84% of revenue. In human-speak, if funding costs rise or loan yields flatten, most of the profit engine feels it at once.
Non-interest income is only $4.5M. That is too small to bail out the income statement if spread income weakens.
You are not betting on a hidden growth machine. You are betting that a stable local bank trading below book can keep earnings clean long enough for the discount to narrow.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
Q1 2026 earnings report
Scheduled for April 27, 2026. You want to see whether the stronger post-conversion earnings cadence holds.
metric
net interest income as the tell
$23.5M of revenue comes from net interest income. If that number stalls, the thesis loses its main support.
trend
first full year of public trading
The stock began trading on July 21, 2025. The first anniversary will give you a cleaner read on what is rerating and what is just early churn.
risk
dividend support versus earnings power
A 2.3% yield helps, but only if earnings keep covering it. For a small bank, capital return is a signal of confidence, not a free lunch.
Analyst rankings
earnings predictability
80 / 100
the operating numbers have been steady. in human-speak, this bank has not been throwing wild surprises at you.
risk rank
2
that puts it in the safer bucket versus most stocks, but bank safety and stock upside are not the same thing.
price stability
85 / 100
the stock has traded in a controlled range so far. The short public history means you should treat that with care.
source: institutional data
Institutional activity
institutional ownership data for LSBK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$15
current price
n/a
target midpoint · n/a from current
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