莱克肖尔万通金控 2025年度报告

ANNUAL REPORT2025 ‡ƒ” ‡ŽŽ‘™Šƒ”‡Š‘Ž†‡”•ǡ ‡ƒ”‡’Ž‡ƒ•‡†–‘”‡’‘”––Šƒ–ʹͲʹͷ™ƒ•ƒ–”ƒ•ˆ‘”ƒ–‹‘ƒŽ›‡ƒ”ˆ‘”ƒ‡Š‘”‡ƒ…‘”’ǡ …Ǥȋ–Š‡Dz‘’ƒ›dzȌǡƒ”‡†„›•–”‘‰ˆ‹ƒ…‹ƒŽ’‡”ˆ‘”ƒ…‡ǡ–Š‡•—……‡••ˆ—Ž…‘’Ž‡–‹‘‘ˆ‘—”…‘˜‡”•‹‘–‘ƒˆ—ŽŽ›’—„Ž‹…•–‘…Š‘Ž†‹‰…‘’ƒ›ǡƒ†‡ƒ‹‰ˆ—Ž’”‘‰”‡••‹’‘•‹–‹‘‹‰–Š‡‘’ƒ›ˆ‘”Ž‘‰Ǧ–‡”‰”‘™–Šƒ†‡Šƒ…‡†•Šƒ”‡Š‘Ž†‡”˜ƒŽ—‡Ǥ —”‹‰–Š‡›‡ƒ”ǡ™‡†‡Ž‹˜‡”‡†”‡…‘”†‡ƒ”‹‰•ǡ•–”‡‰–Š‡‡†‘—”„ƒŽƒ…‡•Š‡‡–ǡƒ†ƒ†˜ƒ…‡†•‡˜‡”ƒŽ•–”ƒ–‡‰‹…‹‹–‹ƒ–‹˜‡•–Šƒ–‡ƒ‹‰ˆ—ŽŽ›‡š’ƒ†‘—”ˆ—–—”‡‘’’‘”–—‹–‹‡•ǤŠ‡•‡ƒ……‘’Ž‹•Š‡–•”‡ˆŽ‡…–†‹•…‹’Ž‹‡†‡š‡…—–‹‘ǡƒ”‡‡™‡†•–”ƒ–‡‰‹…ˆ‘…—•ǡƒ†–Š‡…‘–‹—‡†–”—•–ƒ†•—’’‘”–‘ˆ‘—”•Šƒ”‡Š‘Ž†‡”•Ǥ ‘”–Š‡›‡ƒ”‡†‡†‡…‡„‡”͵ͳǡʹͲʹͷǡƒ‡Š‘”‡”‡’‘”–‡†‡–‹…‘‡‘ˆ̈́͹Ǥ͵‹ŽŽ‹‘ǡ‘”̈́ͲǤͻ͹’‡”†‹Ž—–‡†•Šƒ”‡ǡƒ‹…”‡ƒ•‡‘ˆͶ͹ǤͶΨ‘˜‡”ʹͲʹͶǤ‡–‹–‡”‡•–ƒ”‰‹‡š’ƒ†‡†–‘͵Ǥ͹͵Ψˆ‘”–Š‡ˆ—ŽŽ›‡ƒ”ǡƒ†‘—”‡ˆˆ‹…‹‡…›”ƒ–‹‘‹’”‘˜‡†–‘͸ͻǤʹͳΨǡ”‡ˆŽ‡…–‹‰†‹•…‹’Ž‹‡†…‘•–…‘–”‘Žƒ†„ƒŽƒ…‡•Š‡‡–‘’–‹‹œƒ–‹‘Ǥ †‡ˆ‹‹‰ƒ…Š‹‡˜‡‡–‘ˆʹͲʹͷ™ƒ•–Š‡…‘’Ž‡–‹‘‘ˆ‘—”•‡…‘†Ǧ•–‡’…‘˜‡”•‹‘ƒ†”‡Žƒ–‡†•–‘…‘ˆˆ‡”‹‰‹ —Ž›ʹͲʹͷǤŠ”‘—‰Š–Š‹•–”ƒ•ƒ…–‹‘ǡƒ‡Š‘”‡•—……‡••ˆ—ŽŽ›–”ƒ•‹–‹‘‡†ˆ”‘–Š‡—–—ƒŽŠ‘Ž†‹‰…‘’ƒ›•–”—…–—”‡–‘ƒˆ—ŽŽ›’—„Ž‹…•–‘…Š‘Ž†‹‰…‘’ƒ›ƒ†…‘˜‡”–‡†–‘ƒ‡™‘”Ǧ…Šƒ”–‡”‡†…‘‡”…‹ƒŽ„ƒǤ•’ƒ”–‘ˆ–Š‡•—„•…”‹’–‹‘‘ˆˆ‡”‹‰ǡ–Š‡‘’ƒ›”ƒ‹•‡†̈́ͶͻǤͷ‹ŽŽ‹‘‹‰”‘••…ƒ’‹–ƒŽǡ•‹‰‹ˆ‹…ƒ–Ž›‡Šƒ…‹‰‘—”ˆ‹ƒ…‹ƒŽˆŽ‡š‹„‹Ž‹–›ƒ†…ƒ’ƒ…‹–›–‘‰”‘™ǤŠ‹•…ƒ’‹–ƒŽ”ƒ‹•‡’‘•‹–‹‘•ƒ‡Š‘”‡–‘„‡––‡”•‡”˜‡—‹…‹’ƒŽ‹–‹‡•ǡ„—•‹‡••‡•ǡƒ†…‘•—‡”•–Š”‘—‰Š‘—–Šƒ—–ƒ—“—ƒƒ†”‹‡‘—–‹‡•ǡ™Š‹Ž‡’”‡•‡”˜‹‰‘—”…‘—‹–›Ǧˆ‘…—•‡†„ƒ‹‰‘†‡Žƒ†Ž‘‰Ǧ•–ƒ†‹‰‹†‡’‡†‡…‡Ǥ ‡„‡Ž‹‡˜‡–Š‡•–”ƒ–‡‰‹…ƒ…–‹‘•–ƒ‡‘˜‡”–Š‡’ƒ•–•‡˜‡”ƒŽ›‡ƒ”•Ȅ‹…Ž—†‹‰„ƒŽƒ…‡•Š‡‡–”‡’‘•‹–‹‘‹‰ǡ‘’‡”ƒ–‹‘ƒŽ•‹’Ž‹ˆ‹…ƒ–‹‘ǡ”‡‰—Žƒ–‘”›‘”ƒŽ‹œƒ–‹‘ǡƒ†‘™–Š‡…‘˜‡”•‹‘ƒ†…ƒ’‹–ƒŽ”ƒ‹•‡ȄŠƒ˜‡…”‡ƒ–‡†ƒ•‘Ž‹†’Žƒ–ˆ‘”ˆ‘”•—•–ƒ‹ƒ„Ž‡’‡”ˆ‘”ƒ…‡Ǥ‹–Š‹…”‡ƒ•‡†…ƒ’‹–ƒŽǡƒ…‘‡”…‹ƒŽ„ƒ…Šƒ”–‡”ǡƒ†ƒ•–”‘‰Ž‘…ƒŽˆ”ƒ…Š‹•‡ǡ™‡ƒ”‡™‡ŽŽ’‘•‹–‹‘‡†–‘’—”•—‡’”—†‡–Ž‘ƒ‰”‘™–Šǡ†‡‡’‡…‘”‡†‡’‘•‹–”‡Žƒ–‹‘•Š‹’•ǡƒ†–Š‘—‰Š–ˆ—ŽŽ›†‡’Ž‘›…ƒ’‹–ƒŽ‹•—’’‘”–‘ˆŽ‘‰Ǧ–‡”•Šƒ”‡Š‘Ž†‡”˜ƒŽ—‡Ǥ „‡ŠƒŽˆ‘ˆ–Š‡‘ƒ”†‘ˆ‹”‡…–‘”•ǡƒƒ‰‡‡–ǡƒ†‘—”‡’Ž‘›‡‡•ǡ–Šƒ›‘—ˆ‘”›‘—”…‘–‹—‡†…‘ˆ‹†‡…‡ƒ†•—’’‘”–Ǥ ‹…‡”‡Ž›ǡ Kim C. LiddellPresident, Chief Executive Officerand Director (This page intentionally left blank) April 7, 2026 Dear Shareholder: We cordially invite you to attend the Annual Meeting of Shareholders of Lake Shore Bancorp,Inc. (the “Annual Meeting”). The Annual Meeting will be held at the Clarion Hotel, 30 Lake Shore DriveEast, Dunkirk, New York 14048 on May 20, 2026 at 8:30 a.m., Eastern Time. The enclosed Notice of Annual Meeting and Proxy Statement describe the formal business to betransacted. In addition to the formal items of business, management will report on the operations andactivities of Lake Shore Bancorp, Inc. and you will have an opportunity to ask questions. At the Annual Meeting, shareholders will be asked to vote on the following matters: •election of three directors for a three-year term;•advisory approval of a non-binding resolution regarding the compensation of our namedexecutive officers;•an advisory, non-binding proposal with respect to the frequency that shareholders willvote on the compensation of our named executive officers;•ratification of the appointment of Yount, Hyde & Barbour, P.C. as the independentregistered public accounting firm of Lake Shore Bancorp, Inc. for the year endingDecember 31, 2026; and•transaction of such other business as may properly come before the 2026 annual meeting. Forthe reasons set forth in the Proxy Statement,the Board of Directors unanimouslyrecommends that you voteFOReach of the above noted matters andFORan annual vote on thecompensation of our named executive officers. We are pleased to take advantage of the Securities and Exchange Commission rule allowingcompanies to furnish proxy materials to their shareholders over the Internet. On or about April 7, 2026,we began mailing a Notice of Internet Availability of Proxy Materials (the “Notice”) containinginstructions on how to access our Proxy Statement and Annual Report and vote online. The Notice alsoexplains how you may request to receive a paper copy of the Proxy Statement and Annual Report, as wellas a paper proxy card. Whether or not you are able to attend the Annual Meeting, and regardless of the number ofshares you own, your vote is important and we encourage you to vote promptly.You may vote yourshares via a toll-free telephone number, over the Internet or on a paper proxy card if you request one.Instructions regarding the methods of voting are contained on the Notice and proxy card. Voting by proxywill not prevent you from voting in person at the Annual Meeting, but will ensure that your vote iscounted if you are unable to attend. The Board of Directors and the e