Lake Shore Bancorp, Inc. announced the completion of its conversion from mutual to stock form, with a total of 4,950,460 shares sold at $10.00 per share for gross proceeds of $49.5 million. Stockholders will receive DRS Book-Entry statements and interest checks by July 21, 2025. Each share of Lake Shore Federal Bancorp common stock was converted into 1.3549 shares of Lake Shore Bancorp common stock. Approximately 7,825,877 shares of Lake Shore Bancorp common stock are outstanding. Lake Shore Bancorp is a New York chartered bank with ten branches in Western New York. Stock is expected to trade on Nasdaq under “LSBK” on July 21, 2025.

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