Lake Shore Bancorp to Close Mutual to Stock Conversion, Expected to Raise $49.5 Million

Lake Shore Bancorp, Inc. has received all regulatory approvals to close the conversion of Lake Shore, MHC from mutual to stock form and the related stock offering. The conversion is expected to occur after the close of business on July 18, 2025. Lake Shore Bancorp expects to sell approximately 4,950,460 shares of its common stock at $10.00 per share for total gross proceeds of $49.5 million. Each outstanding share of Lake Shore Federal Bancorp common stock will be converted into shares of Lake Shore Bancorp common stock based on an exchange ratio of 1.3549 shares. Trading under the symbol “LSBK” is expected to begin on July 21, 2025.

Read more at GlobeNewswire: Lake Shore Bancorp Announces Closing Date of Conversion