Lake Shore Bancorp, Inc..
LSBK.US | Other monetary intermediation
Lake Shore Bancorp, Inc. operates as the holding company for Lake Shore Savings Bank that provides financial services to individuals and businesses in western New York. It offers various deposit products, including checking, savings, and money market accounts, as well as certificates of deposit. The...Show More
Better Health for All
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No evidence available to assess Lake Shore Bancorp, Inc. on Better Health for All.
Fair Money & Economic Opportunity
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Lake Shore Savings Bank received an "Outstanding" rating on its Community Reinvestment Act (CRA) performance examination for the period January 1, 2021, through December 31, 2023.
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However, the bank faced significant regulatory issues, including an OCC consent order in February 2023 for "substantial noncompliance" with a prior agreement and "unsafe and unsound practices," which included a November 2021 data security incident and non-adherence to Bank Secrecy Act rules.
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This consent order was terminated in December 2024, and a Federal Reserve enforcement action was terminated in March 2025.
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The bank's Community Development Loans totaled $40,370,000, representing 7.18% of its $562.3 million total loans and leases as of December 31, 2023.
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The bank participates in the Homebuyer Dream Program, providing down payment and closing cost assistance to qualified first-time homebuyers earning at or below 80% of the area median income, making 39 such loans.
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An employee provided financial literacy education via one seminar on mortgage lending for first-time homebuyers.
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The bank operates 11 branch locations, with 5 in Chautauqua County and 6 in Erie County, and closed its Jamestown branch in September 2024, which was located in a moderate-income census tract.
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An individual associated with the company works to make complex financial decisions feel more approachable and less intimidating.
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Fair Pay & Worker Respect
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Employee reviews consistently indicate low pay, with multiple mentions of minimum wage and the inability to make a living at entry level.
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The overall employee engagement rating is 1.7 out of 5 (equivalent to 34/100), reflecting low morale and trust.
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The company provides 100% employer-funded health, dental, and vision insurance coverage.
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Fair Trade & Ethical Sourcing
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No evidence available to assess Lake Shore Bancorp, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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No evidence available to assess Lake Shore Bancorp, Inc. on Honest & Fair Business.
Kind to Animals
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Lake Shore Bancorp, Inc. is a financial services company, and its core business operations do not involve animal testing, animal-derived products, animal agriculture, or direct impact on wildlife habitats. The provided articles contain no specific, concrete data points relevant to any of the 'Kind to Animals' KPIs, such as cruelty-free certifications, animal testing volumes, humane certifications for operations, or investments in animal-free alternatives.
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Therefore, all KPIs are omitted due to lack of applicable evidence.
No War, No Weapons
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The provided articles do not contain any specific data or information relevant to Lake Shore Bancorp, Inc.'s involvement in arms manufacturing, military contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, conflict divestment policies, or any other activities related to the 'No War, No Weapons' ethical value.
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Therefore, no KPIs under this value can be assessed.
Planet-Friendly Business
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No specific, quantifiable data points for any of the environmental KPIs, such as greenhouse gas emissions, renewable energy consumption, water usage, waste diversion rates, or green building certifications, are available in the provided articles for LSBK.US.
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Information regarding science-based targets, climate-related financial disclosures, or specific climate justice initiatives is also absent.
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Respect for Cultures & Communities
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No evidence available to assess Lake Shore Bancorp, Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
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No evidence available to assess Lake Shore Bancorp, Inc. on Safe & Smart Tech.
Zero Waste & Sustainable Products
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No data related to zero waste or sustainable products for Lake Shore Bancorp, Inc. (LSBK.US) was found in the provided articles. The articles focused on financial information, corporate reorganization, and regulatory approvals, or were not relevant to the company in question.