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EX-99.1 - EX-99.1 - LAKE SHORE BANCORP, INC.lsbk-20160728xex99_1.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

______________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

______________________________

Date of report (Date of earliest event reported):  July 27, 2016





LAKE SHORE BANCORP, inc.

(Exact name of registrant as specified in its charter)





 

 

 

 

United States

 

000-51821

 

20-4729288

 (State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)



31 East Fourth Street, Dunkirk, NY 14048

(Address of principal executive offices) (Zip Code)



Registrant's telephone number, including area code: (716) 366-4070



Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[   ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[   ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[   ]   Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))




 

Item 2.02Results of Operations and Financial Condition.



Lake Shore Bancorp, Inc. (the “Company”) issued a press release on July 28, 2016 disclosing its results of operations and financial condition for the second quarter of 2016.



A copy of the press release is attached as Exhibit 99.1 hereto.



Item 8.01Other Events.



On July 27, 2016, the Company’s Board of Directors declared a quarterly cash dividend of $0.07 per share on its outstanding common stock. The dividend is payable on August 22,  2016 to shareholders of record as of August 11, 2016.  



Lake Shore, MHC (the “MHC”), which holds 3,636,875, or 59.9%, of the Company’s total outstanding stock, has elected to not waive receipt of the dividend on its shares this quarter.



As the Company has previously disclosed, the MHC received the approval of its members (depositors of Lake Shore Savings Bank) and the non-objection of the Federal Reserve Bank of Philadelphia to waive the MHC’s receipt of cash dividends on its common stock up to $0.28 per share during the 12 month period ending February 2,  2017.



A copy of the press release is attached as Exhibit 99.1 hereto.



Item 9.01Financial Statements and Exhibits.



(d)   Exhibits



99.1  Press release of Lake Shore Bancorp, Inc. dated July 28, 2016.




























 



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



 

LAKE SHORE BANCORP, inc.

By:

/s/ Rachel A. Foley

Name:

Rachel A. Foley

Title:

Chief Financial Officer and Treasurer











Date: July 28, 2016