Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 8, 2023, Lake Shore Bancorp, Inc. (the "Company") appointed Kim C. Liddell as President, Chief Executive Officer and Director of the Company. In addition, Lake Shore, MHC (the "MHC"), the mutual holding company parent of the Company, appointed Mr. Liddell as President, Chief Executive Officer and Director of the MHC.

Mr. Liddell served as the Chairman and President of Delmarva Bancshares, Inc. and Chairman, President and Chief Executive Officer of 1880 Bank, Cambridge, Maryland from 2010 until its acquisition by BV Financial in 2020. Mr. Liddell served as a director of BV Financial and BayVanguard Bank, Baltimore, Maryland from 2020 to 2023. Mr. Liddell served as a director of the Federal Home Loan Bank of Atlanta from 2016 to 2023.

Mr. Liddell is not a party to any transaction with the Company, the MHC or Lake Shore Savings Bank that would require disclosure under Item 404(a) of SEC Regulation S-K.

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