Lake Shore Savings Bank Receives Termination of Consent Order From OCC, Ending Troubled Condition Status
Lake Shore Savings Bank Receives Termination of Consent Order From OCC, Ending Troubled Condition Status
The Consent Order was issued due to deficiencies related to information technology, security, and compliance with the Bank Secrecy Act/Anti-Money Laundering.Lake Shore Savings Bank's Consent Order has been terminated by the OCC, indicating significant operational improvements.
湖岸儲蓄銀行的許可證訂單已被OCC終止，表明其運營有了顯著改善。
Quiver AI Summary
Quiver AI 概要
Lake Shore Savings Bank announced the termination of a Consent Order issued by the Office of the Comptroller of the Currency (OCC), which mandated improvements in areas such as information technology, security, and anti-money laundering measures. The OCC also lifted the Bank's "Troubled Condition" status, reflecting the significant progress made in addressing these operational issues. CEO Kim C. Liddell highlighted the swift remediation efforts and expressed pride in the team's commitment to customer service. Lake Shore Bancorp, Inc., the parent company of the bank, operates as a community-oriented financial institution in New York, with a focus on various lending and deposit services.
湖岸儲蓄銀行宣佈終止由貨幣監理署（OCC）發出的許可證訂單，該訂單要求在信息技術、安全和反洗錢等領域進行改進。OCC還取消了該銀行的「困難控件」狀態，反映出在解決這些運營問題上取得了顯著進展。首席執行官金·C·利德爾強調了迅速的整改努力，並對團隊對客戶服務的承諾表示自豪。湖岸控股公司是該銀行的母公司，作爲一家面向社區的金融機構在紐約運營，專注於各種借貸和存款服務。
Potential Positives
潛在的積極因素
- Termination of the Consent Order by the OCC signifies that Lake Shore Savings Bank has successfully addressed compliance and operational issues, improving regulatory standing.
- The removal of the "Troubled Condition" status enhances the Bank's reputation and could foster greater trust among customers and investors.
- The Bank's management commendably expedited the remediation process, demonstrating effective leadership and commitment to operational excellence.
- Positive progress in regulatory compliance may lead to increased business opportunities and potential growth in customer relationships and market confidence.
- OCC終止許可證訂單意味着湖岸儲蓄銀行成功解決了合規和運營問題，改善了監管地位。
- 取消「困難控件」狀態提升了銀行的聲譽，可能會增強客戶和投資者之間的信任。
- 銀行的管理層令人讚賞地加快了整改過程，展示了有效的領導力和對運營卓越的承諾。
- 合規方面的積極進展可能會帶來更多的業務機會，並有潛在增長的客戶關係和市場信心。
Potential Negatives
潛在負面影響
- Receiving a termination notice for the Consent Order from the OCC suggests previous operational deficiencies that may raise concerns about the Bank's governance and risk management practices.
- The mention of "Troubled Condition" status indicates past significant issues that could impact investor confidence and the company's reputation.
- Warnings about possible significant risks and uncertainties in the forward-looking statements could contribute to skepticism about the Bank's future performance.
- 收到來自OCC的同意令終止通知，表明以前的操作缺陷可能引發對銀行治理和風險管理實踐的擔憂。
- 提到的「困境狀況」狀態表明過去存在重大問題，可能影響投資者信心和公司的聲譽。
- 關於前瞻性聲明可能存在重大風險和不確定性的警告，可能會增加對銀行未來表現的懷疑。
FAQ
常見問題
What recent regulatory announcement was made about Lake Shore Savings Bank?
關於湖岸儲蓄銀行最近有何監管公告？
On December 3, 2024, the OCC terminated the Consent Order and "Troubled Condition" status for Lake Shore Savings Bank.
在2024年12月3日，OCC終止了湖岸儲蓄銀行的同意令和「困境狀況」狀態。
Why was the Consent Order issued to Lake Shore Savings Bank?
爲什麼湖岸儲蓄銀行會被髮出同意令？
The Consent Order was issued due to deficiencies related to information technology, security, and compliance with the Bank Secrecy Act/Anti-Money Laundering.
由於與信息技術、安全性以及銀行保密法/反洗錢法的合規性相關的缺陷，發佈了同意令。
What does the termination of the Consent Order indicate?
同意令的終止意味着什麼？
The termination signifies the Bank's significant and speedy progress in addressing operational issues identified by its primary regulator, the OCC.
終止標誌着銀行在解決其主要監管機構OCC識別的運營問題方面取得了重大和迅速的進展。
Who is the CEO of Lake Shore Bancorp, Inc.?
Lake Shore Bancorp, Inc.的首席執行官是誰？
Kim C. Liddell is the President, CEO, and Director of Lake Shore Bancorp, Inc.
Kim C. Liddell是Lake Shore Bancorp, Inc.的總裁、首席執行官和董事。
Where can I find more information about Lake Shore Bancorp, Inc.?
我在哪裏可以找到關於Lake Shore Bancorp, Inc.的更多信息？
Additional information is available on their website at .
其他信息可以在他們的網站上找到。
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
免責聲明：這是由GlobeNewswire分發的新聞稿的人工智能生成摘要。用於總結這份稿件的模型可能會出錯。請在這裏查看完整發布。
$LSBK Insider Trading Activity
$LSBk 內幕交易活動
$LSBK insiders have traded $LSBK stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
$LSBk 內部人士在過去 6 個月內在公開市場上交易 $LSBk 股票 6 次。其中 6 次爲購買，0 次爲銷售。
Here's a breakdown of recent trading of $LSBK stock by insiders over the last 6 months:
以下是過去 6 個月內部人士對 $LSBk 股票的近期交易情況：
- KEVIN M. SANVIDGE has traded it 2 times. They made 2 purchases, buying 4,379 shares and 0 sales.
- TAYLOR M GILDEN (Chief Financial Officer) purchased 400 shares.
- ANN M SEGARRA has traded it 3 times. They made 3 purchases, buying 23,500 shares and 0 sales.
- KEVIN m. SANVIDGE 已交易 2 次。他們進行了 2 次購買，購買了 4,379 股，0 次銷售。
- TAYLOR m GILDEN（首席財務官）購買了 400 股。
- ANN m SEGARRA 已交易 3 次。他們進行了 3 次購買，購買了 23,500 股，0 次銷售。
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
要跟蹤內部交易，請查看Quiver Quantitative的內部交易特斯拉-儀表。
$LSBK Hedge Fund Activity
$LSBk 對沖基金活動
We have seen 8 institutional investors add shares of $LSBK stock to their portfolio, and 8 decrease their positions in their most recent quarter.
我們看到8家機構投資者在最近一個季度增加了$LSBk股票的持倉，8家減少了他們的持倉。
Here are some of the largest recent moves:
以下是一些最近最大的交易動態：
- STILWELL VALUE LLC added 21,893 shares (+21.9%) to their portfolio in Q3 2024
- COURIER CAPITAL LLC added 18,813 shares (+inf%) to their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 17,241 shares (-100.0%) from their portfolio in Q3 2024
- BRIDGEWAY CAPITAL MANAGEMENT, LLC removed 13,056 shares (-45.3%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 6,978 shares (+66.3%) to their portfolio in Q3 2024
- VANGUARD GROUP INC removed 5,659 shares (-10.5%) from their portfolio in Q3 2024
- UBS GROUP AG removed 4,752 shares (-100.0%) from their portfolio in Q3 2024
- STILWELL VALUE LLC在2024年第三季度增加了21,893股(+21.9%)至他們的投資組合
- COURIER CAPITAL LLC在2024年第三季度增加了18,813股(+inf%)至他們的投資組合
- SUSQUEHANNA INTERNATIONAL GROUP, LLP在2024年第三季度從他們的投資組合中移除了17,241股(-100.0%)
- BRIDGEWAY CAPITAL MANAGEMENt, LLC在2024年第三季度從他們的投資組合中移除了13,056股(-45.3%)
- GEODE CAPITAL MANAGEMENt, LLC在2024年第三季度增加了6,978股(+66.3%)至他們的投資組合
- VANGUARD GROUP INC在2024年第三季度從他們的投資組合中移除了5,659股(-10.5%)
- 瑞銀集團在2024年第三季度從其投資組合中移除了4,752股（-100.0%）
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
要追蹤對沖基金的股票組合，請查看Quiver Quantitative的機構持股儀表板。
Full Release
全面發佈
DUNKIRK, N.Y., Dec. 03, 2024 (GLOBE NEWSWIRE) -- On December 3, 2024, Lake Shore Savings Bank ("Bank"), the wholly-owned federal savings bank subsidiary of Lake Shore Bancorp, Inc. ("Company") received termination notice of the Consent Order by the Office of the Comptroller of the Currency ("OCC"), the Bank's primary federal regulator. The Consent Order required the Bank to correct deficiencies related to information technology, security, automated clearing house, audit, management, and Bank Secrecy Act / Anti-Money Laundering. In addition to the termination of the Consent Order, the OCC terminated the "Troubled Condition" status.
紐約鄧基爾克，2024年12月3日（全球新聞社）-- 2024年12月3日，湖岸儲蓄銀行（"銀行"），湖岸銀行控股公司（"公司"）的全資聯邦儲蓄銀行子公司，收到了貨幣監理署（"OCC"）對《同意令》的終止通知，這是銀行的主要聯邦監管機構。《同意令》要求銀行糾正與信息技術、安防-半導體、自動清算所、審計、管理以及銀行保密法/反洗錢法相關的缺陷。除了《同意令》的終止，OCC還終止了「困難控件」狀態。
"Our primary goal has been remediation of the operational issues identified by our primary regulator," stated Kim C. Liddell, President, CEO, and Director. "The early lifting of the Consent Order by the OCC reflects the significant and speedy progress our team made. I am proud of the team and their continued focus on serving our customers and communities."
「我們的主要目標是修復我們主要監管機構所識別的運營問題，」總裁、首席執行官和董事Kim C. Liddell表示。「OCC提前解除《同意令》反映了我們的團隊所取得的顯著和快速進展。我爲團隊以及他們繼續專注於服務客戶和社區感到自豪。」
About Lake Shore
Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company's common stock is traded on the NASDAQ Global Market as "LSBK". Additional information about the Company is available at
.
關於湖岸
湖岸銀行控股公司（納斯達克全球市場：LSBK）是湖岸儲蓄銀行的中型控股公司，湖岸儲蓄銀行是一家聯邦特許、面向社區的金融機構，總部位於紐約鄧基爾克。該銀行在紐約西部有十個提供全面服務的分行，包括四個在查託誇縣，六個在伊利縣。該銀行提供廣泛的零售和商業貸款及存款服務。公司的普通股在納斯達克全球市場上交易，代碼爲「LSBK」。有關該公司的更多信息可以在
.
Safe-Harbor
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company's and the Bank's industry, and management's beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management's current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, compliance with the Written Agreement with the Federal Reserve Bank of Philadelphia, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, unanticipated changes in our liquidity position, climate change, geopolitical conflicts, public health issues, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, dividend policy changes, and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.
安全港條款
本聲明包含根據1995年《私營證券訴訟改革法》的含義某些前瞻性聲明，這些聲明基於對公司和銀行行業的當前預期、估計和預測，以及管理層的信念和假設。諸如預計、期望、意圖、計劃、相信、估計及其變體等詞語旨在識別前瞻性聲明。這些聲明反映了管理層對未來事件和運營的當前看法。這些前瞻性聲明基於截至本聲明發布日期公司目前掌握的信息。需要注意的是，這些前瞻性聲明並不是未來業績的保證，並涉及並受到重大風險、偶然狀況和不確定性的影響，其中許多是難以預測的，並且通常超出我們的控制，包括但不限於與費城聯邦儲備銀行的書面協議的合規性、數據丟失或其他安全漏洞，包括我們運營或安全系統、政策或程序的漏洞，包括對我們或第三方供應商或服務提供商的網絡攻擊、經濟狀況、貨幣和財政政策變化的影響、通貨膨脹、流動性狀況的意外變化、氣候變化、地緣政治衝突、公共衛生問題、失業率上升、貸款組合的信用質量和/或擔保還款的抵押品價值的惡化、投資證券價值的減少、吸引和留住關鍵員工的成本和能力、監管或法律發展、稅收政策變化、股息政策變化，以及我們實施和執行業務計劃和策略及擴展運營的能力。這些因素應在評估前瞻性聲明時予以考慮，並且不應對這些聲明過度依賴，因爲我們的財務表現可能由於各種風險或不確定性而存在實質性差異。如果未來變化使任何預計結果的表達或暗示不再現實，我們不會公開更新或修訂我們的前瞻性聲明。
Source: Lake Shore Bancorp, Inc.
Category: Financial
來源：湖岸銀行公司。
類別：金融
Investor Relations/Media Contact
Kim C. Liddell
President, CEO, and Director
Lake Shore Bancorp, Inc.
31 East Fourth Street
Dunkirk, New York 14048
(716) 366-4070 ext. 1012
投資者關係/媒體聯繫
Kim C. Liddell
總裁、首席執行官、董事
湖岸銀行公司。
東第四街31號
紐約州丹基克14048
(716) 366-4070 分機 1012
