Lake Shore Savings Bank Announces Termination of OCC Consent Order
Portfolio Pulse from
Lake Shore Savings Bank, a subsidiary of Lake Shore Bancorp, Inc., announced the termination of a Consent Order by the OCC, which required the bank to address deficiencies in IT, security, and compliance. The bank's 'Troubled Condition' status was also lifted.
December 03, 2024 | 9:45 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Lake Shore Bancorp, Inc. announced that its subsidiary, Lake Shore Savings Bank, has had its OCC Consent Order terminated, indicating improved compliance and operational standards.
The termination of the OCC Consent Order suggests that Lake Shore Savings Bank has addressed significant regulatory and operational deficiencies. This is likely to improve investor confidence and could positively impact the stock price of Lake Shore Bancorp, Inc. in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100