Lake Shore in N.Y. freed from Fed written agreement

Lake Shore Bancorp in Dunkirk, N.Y., has been freed from another regulatory order.

The $698 million-asset company disclosed in a regulatory filing that the Fed terminated a June 2023 written agreement.

The Office of the Comptroller of the Currency freed Lake Shore’s bank from a consent order in December.

Lake Shore has now begun the process of pursuing a second-step conversion to become a fully stock-owned company.