LYONS — Lyons Bancorp, Inc. (ticker: LYBC), the financial holding company of the Lyons National Bank (LNB), recently reported earnings of $15.5 million for 2024, down nearly 11 percent from its record earnings of $17.4 million the prior year. The banking company said that on a per-share basis, its earnings per share were $4.38 last […]
LYONS — Lyons Bancorp, Inc. (ticker: LYBC), the financial holding company of the Lyons National Bank (LNB), recently reported earnings of $15.5 million for 2024, down nearly 11 percent from its record earnings of $17.4 million the prior year.
The banking company said that on a per-share basis, its earnings per share were $4.38 last year, down almost 11 percent from $4.90 in 2023.
“Last year presented a challenging environment in areas such as: inflation, uncertain economic and political environments, the continuation of an unusually extended inverted yield curve and tighter margins to name a few,” Lyons Bancorp President and CEO Thomas Kime said in the company’s earnings report, issued on Feb. 20. “Despite these factors, the Bank delivered a strong operating performance, solid financial results and improving trends. We look for these improvements to continue in 2025. With net interest margins improving, a strong balance sheet, solid reserve levels, good growth, and an outstanding team of professionals, LNB is positioned to pursue growth opportunities and perform well in 2025.”
Lyons Bancorp’s total assets rose to $1.92 billion at year-end 2024 from $1.85 billion at year-end 2023. The banking company said the key drivers of growth were an increase in deposits from $1.62 billion at the end of 2023 to $1.77 billion at year-end 2024, which it invested back into its local communities in the form of loans. The banking company’s gross loans grew $90 million, or 6.5 percent, from $1.38 billion in 2023 to $1.47 billion in 2024.
Lyons Bancorp also announced that its board of directors boosted its quarterly dividend by 14 percent to 40 cents per share from 35 cents, effective March 31. The banking company said the decision was based on its strong and increasing capital, along with last year’s solid earnings.
The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario, and Wolcott in Wayne County; Penn Yan in Yates County; Jordan in Onondaga County; Geneva, Canandaigua, and Farmington in Ontario County; Seneca Falls in Seneca County; Perinton in Monroe County; and Auburn in Cayuga County. LNB also has one subsidiary, Lyons Realty Associates Corp.
