Lake Shore Bancorp (LSBK) in Dunkirk, N.Y., is ready to make a change at the top as two directors approach retirement age.
Gary Winger will become chairman of Lake Share and two of its affiliates, the company said Monday. Winger has been Lake Shore Bancorp's vice chairman since 2010, director of its compensation committee since 2006 and a director since 1997. His appointment will take effect May 22.
Lake Shore Bancorp is the parent of the $499 million-asset Lake Shore Savings Bank and is 61% owned by a mutual firm, Lake Shore MHC. Winger will be chairman of each of the three entities.
Winger will succeed Michael Brunecz, who has reached the mandatory retirement age after twenty years as Lake Shore's chairman. Brunecz has been a director of the company since 1984 and chairman since 1993.
Another director, James Foley, who has served on the board since 1983, will step down in May upon reaching the mandatory-retirement age, the company said.
"Mr. Winger's in-depth knowledge of banking, along with his strong leadership skills, will benefit our organization and the bank's commitment to our customers and our communities," Lake Shore Bancorp's president and chief executive, Daniel Reininga, said in the release.
Lake Shore has ten branches in Chautauqua and Erie counties in New York.