Lake Shore Bancorp reports annual shareholder meeting results

Lake Shore Bancorp, Inc. (NASDAQ:LSBK), a profitable regional bank with a market capitalization of $86.34 million and an attractive dividend yield of 4.75%, has announced the results of its Annual Meeting of Shareholders held on May 21, 2025. The meeting addressed several key proposals, including the election of directors, executive compensation, and the ratification of the company’s independent auditor.

Shareholders elected three Class Two directors to the Board of Directors for a three-year term expiring in 2028. The elected directors are Kevin M. Sanvidge, Sharon E. Brautigam, and Ann M. Segarra. The advisory vote on executive compensation was approved, reflecting shareholder support for the company’s executive pay practices. According to InvestingPro data, the company has demonstrated strong performance with a 29.63% return over the past year.

Additionally, the appointment of Yount, Hyde & Barbour, P.C. as Lake Shore Bancorp’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. The detailed vote results for each proposal were disclosed, demonstrating majority support from the voting shareholders.

The company’s SEC filing provided the comprehensive results of the voting, including the number of votes for, against, abstained, and broker non-votes for each proposal. The filing and the meeting outcomes are part of the company’s regular disclosure practices and compliance with SEC regulations.

This news is based on a press release statement.

In other recent news, Lake Shore Bancorp, Inc. has announced the termination of a regulatory agreement with the Federal Reserve Bank of Philadelphia. This agreement, which began on June 28, 2023, was officially ended on March 4, 2025. The termination of this agreement indicates that Lake Shore Bancorp has met the conditions set by the regulator. This development was formally filed with the Securities and Exchange Commission as part of a Form 8-K submission on March 13, 2025. The Federal Reserve Board also confirmed the end of its enforcement action with Lake Shore Bancorp. The termination of these regulatory agreements may suggest improved regulatory compliance for Lake Shore Bancorp. This recent development could potentially lead to greater operational flexibility for the company.

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