Financial Services >> CEO Interviews >> January 5, 2018
Interview with the President & CEO and CFO & Treasurer: Lake Shore Bancorp, Inc. (NASDAQ:LSBK)
Daniel P. Reininga became President and Chief Executive Officer for Lake Shore Savings Bank on January 28, 2011. He was previously appointed the Executive Vice President and Chief Operations Officer of the company on January 1, 2010. He has served as a member of the board of directors since 1994 and his current term expires at the 2020 annual shareholders meeting. He served as Vice Chairman of the board from 2003 until June 2010. Mr. Reininga previously served on the Audit/Risk and Loan Committees, and is currently the Chairman of the Loan Committee and a member of the Asset Liability Committee. Mr. Reininga holds a Bachelor of Science in economics from Allegheny College and a Master of Business Administration from University of South Florida. He has completed the American Bankers Association — ABA — course in advanced asset and liability management, and is a graduate of the ABA Stonier National Graduate School of Banking. Mr. Reininga has a sound knowledge of bank risks, internal controls and bank operations. He has served as Chairman of a family owned real estate investment company for more than 15 years. In connection with the family owned business, he has been responsible for the financial and general management of seven small companies. He is also involved in numerous community and nonprofit organizations, either as a board member or committee member. Profile
Rachel A. Foley is Chief Financial Officer and Treasurer of Lake Shore Bancorp, Inc. She joined Lake Shore Savings Bank as Controller in March 1999 and was promoted to Chief Financial Officer in March 2006. Her prior work experience includes being a Financial Audit Supervisor at M&T Bank in Buffalo, New York. Ms. Foley has a Bachelor of Science in economics from Allegheny College and a Master of Business Administration from the State University of New York at Buffalo. Profile
TWST: Can you provide a snapshot of the bank today, including total assets and deposits and number of branches?
Ms. Foley: As of September 30, 2017, we had total assets of $512.8