Core Points - Lake Shore Savings Bank received a termination notice for the Consent Order from the Office of the Comptroller of the Currency (OCC), indicating that the bank has addressed deficiencies in various operational areas [1] - The OCC also lifted the "Troubled Condition" status of the bank, reflecting improvements in its operational compliance [1] - Kim C. Liddell, the President and CEO, emphasized the team's rapid progress in remediation efforts and their commitment to serving customers and communities [2] Company Overview - Lake Shore Bancorp, Inc. is the mid-tier holding company for Lake Shore Savings Bank, which is a federally chartered financial institution based in Dunkirk, New York [2] - The bank operates ten full-service branches in Western New York, providing a range of retail and commercial lending and deposit services [2] - The company's common stock is traded on the NASDAQ Global Market under the ticker symbol "LSBK" [2]
Lake Shore Savings Bank Announces Termination of OCC Consent Order