Revenue during the quarter dropped 24.06 percent to $4.45 million from $5.86 million in the previous year period. Net interest income for the quarter rose 10.35 percent over the prior year period to $4.17 million. Non-interest income for the quarter fell 71.49 percent over the last year period to $0.63 million.

Lake Shore Bancorp, Inc. has made provision of $0.35 million for loan losses during the quarter, up 169.23 percent from $0.13 million in the same period last year.

Net interest margin improved 26 basis points to 3.69 percent in the quarter from 3.43 percent in the last year period.

"Record organic growth in commercial loan originations, together with steady increases in both core deposits and net interest margin, contributed to our quarterly results," stated Daniel P. Reininga, president and chief executive officer. "We continue to invest in the people and the digital resources necessary to meet the evolving demands of today's "connected consumers" and business owners, as we deepen customer relationships without sacrificing the individualized service indicative of a true community bank."

Return on average assets moved down 106 basis points to 0.59 percent in the quarter from 1.65 percent in the last year period. At the same time, return on average equity decreased 667 basis points to 3.73 percent in the quarter from 10.40 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.98 percent in the quarter.