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Posted 06 March, 2023

LAKE SHORE BANCORP, INC. appointed new CEO

CEO Change detected for ticker Nasdaq:LSBK in a 8-K filed on 06 March, 2023.


  On March 6, 2023, Lake Shore Bancorp, Inc. (the "Company") announced that Daniel P. Reininga, President, Chief Executive Officer and Director of the Company, Lake Shore Savings Bank (the "Bank") and Lake Shore, MHC (the "MHC"), will retire from all of his positions effective March 10, 2023.  

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Overview of LAKE SHORE BANCORP, INC.
Financial Services • Banking
Lake Shore Bancorp, Inc. operates as a savings and loan holding company for Lake Shore Servings Bank. It offers personal services such as checking, savings, lending, banking, debit card, e-services, and online banking, and business services including deposit products, commercial loans, and business e-statements. The company was founded in 2006 and is headquartered in Dunkirk, NY.
Market Cap
$65.7M
View Company Details
LAKE SHORE BANCORP, INC. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On March 6, 2023, Lake Shore Bancorp, Inc. (the "Company") announced that Daniel P. Reininga, President, Chief Executive Officer and Director of the Company, Lake Shore Savings Bank (the "Bank") and Lake Shore, MHC (the "MHC"), will retire from all of his positions effective March 10, 2023.


In connection with Mr. Reininga's retirement, Jeffrey Werdein, age 56, who currently serves as Executive Vice President, Commercial Division of the Bank, has been appointed Interim Principal Executive Officer of the Company and the MHC effective March 10, 2023. Mr. Werdein has been Executive Vice President, Commercial Division of the Bank since 2014. A description of the compensation arrangements between the Bank and Mr. Werdein can be found in the Company's proxy statement for its 2022 annual meeting of stockholders, filed with the Securities and Exchange Commission (the "SEC") on April 7, 2022 and as subsequently updated by the Current Report on Form 8-K filed with the SEC on December 28, 2022.


Mr. Werdein is not a party to any transaction with the Company or the Bank that would require disclosure under Item 404(a) of SEC Regulation S-K.