Revenue during the quarter dropped 13.72 percent to $3.62 million from $4.20 million in the previous year period. Net interest income for the quarter rose 2.07 percent over the prior year period to $3.84 million. Non-interest income for the quarter rose 0.17 percent over the last year period to $0.60 million.

Lake Shore Bancorp, Inc. has made provision of $0.82 million for loan losses during the quarter, up 409.37 percent from $0.16 million in the same period last year.

Net interest margin was stable at 3.45 percent in the quarter, when compared with the last year period.

"Our dedicated commitment to serving the best interests of consumers and small businesses throughout Western New York is clearly evidenced by our strong year-end financial results," said Daniel P. Reininga, president and chief executive officer. "Organic growth in both core deposits and loans, specifically in our commercial loan portfolio, along with an increase in net interest margin, significantly contributed to our year-end success. We continue to welcome those individuals and small businesses, impacted by the recent market disruption in our industry, who seek alternatives for their financial services needs. Our innovative banking products, together with our comprehensive mobile and online platforms, have positioned us as a bank of choice, attracting new audiences, specifically with the up and coming millennial generation."

Return on average assets moved down 59 basis points to 0.12 percent in the quarter from 0.71 percent in the last year period. At the same time, return on average equity decreased 379 basis points to 0.72 percent in the quarter from 4.51 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 1.28 percent in the quarter, up from 1.14 percent in the last year period.