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Lake Shore CEO gets 5 percent raise

Lake Shore Bancorp's president and CEO is getting a 5 percent raise.

Daniel P. Reininga's base salary this year increased to $313,000 from $298,000 last year, the Dunkirk-based parent of Lake Shore Savings Bank said in a regulatory filing. The change took effect in January.

The pay increase was part of an amended employment agreement between the bank and Reininga, who was named president and CEO in 2011.

Lake Shore Bancorp in 2016 reported profits of $3.5 million, up 6 percent from the year before.

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