Wayne Savings Bancshares

Wayne Savings Bancshares, Inc. is a holding company, which engages in the provision of financial services. It offers checking, savings, money market, home loans, and financial planning. The company was founded on August 5, 1997 and is headquartered Wooster, OH.

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Wayne Savings Community Bank provides checking accounts, savings accounts, mobile banking, and overdraft protection services. They offer personal loans, home loans, mortgage loans, financial planning, investment advisory services, wealth management, and trust services.

WOOSTER, Ohio and WHEELING, W.Va. , May 31, 2024 /PRNewswire/ -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN) ("Wayne"), the holding company of Wayne Savings Community Bank ("Wayne Savings") and Main Street Financial Services Corp. (OTCPK: MSWV) ("Main Street"), the holding company of Main Street Bank Corp. ("Main Street Bank"), jointly announced today the closing of their previously announced merger.

Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. Complete Merger

WOOSTER, Ohio, May 10, 2024 (GLOBE NEWSWIRE) -- On May 7, 2024, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the “Company”) shareholders approved the agreement for the merger of Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.

Wayne Savings Bancshares, Inc. Announces 2024 Special Meeting Voting Results

First Quarter 2024 Highlights Customer deposit balances increased by 10.3% annualized Nonperforming loan balances declined to 0.05% of net loans Received regulatory approval for merger with Main Street Financial Services, Corp. WOOSTER, Ohio, April 26, 2024 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $1.5 million, or $0.70 per common share, for the three months ended March 31, 2024, a decrease of $0.7 million, or 32.5%, compared to $2.3 million, or $1.04 per common share, for the three months ended March 31, 2023. Net income, excluding the merger-related expenses (non-GAAP) for the three months ended March 31, 2024, was $1.7 million, or $0.78 per share.

Wayne Savings Bancshares, Inc. Announces Earnings for First Quarter of 2024

WOOSTER, Ohio, March 28, 2024 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank (the “Bank”), has declared a cash dividend of $0.23 per share of the Company's common stock for the quarter ending March 31, 2024. The quarterly cash dividend will be paid on May 1, 2024, to stockholders of record as of April 17, 2024.

Wayne Savings Bancshares, Inc. Declares Quarterly Dividend

WOOSTER, Ohio and WHEELING, W.Va., March 15, 2024 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN) ("Wayne"), the holding company of Wayne Savings Community Bank and Main Street Financial Services Corp. (OTCPK: MSWV) ("Main Street"), the holding company of Main Street Bank Corp., jointly announced today that approval has been received from the Federal Reserve Bank, The Federal Deposit Insurance Corp., the Ohio Division of Financial Institutions, and the West Virginia Board of Banking and Financial Institutions (collectively, the “Regulatory Authorities”) for the merger of Wayne with and into Main Street followed by the merger of Main Street Bank Corp. with and into Wayne Savings Community Bank.

Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. Receive Regulatory Approval for Merger

WOOSTER, Ohio, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $7.8 million, or $3.56 per common share, for the year to date period ended December 31, 2023, a decrease of $1.2 million, or 13.0%, compared to $9.0 million, or $3.98 per common share, for the same period ended December 31, 2022. Net income, excluding the merger-related expenses (non-GAAP) for the twelve months ended December 31, 2023, was $8.8 million, or $3.99 per share. The decrease in net income was due to an increase in non-interest expenses, including the merger-related expenses of $1.0 million. The return on average equity and return on average assets for year ended December 31, 2023, was 16.27% and 1.02%, respectively, compared to 19.37% and 1.34%, respectively, for the same period in 2022.   Excluding merger-related expenses, return on average equity and return on average assets for year ended December 31, 2023, was 18.24% and 1.14%, respectively.

Wayne Savings Bancshares, Inc. Announces Earnings for the year ending December 31, 2023 highlighting annual loan growth of 13%

WOOSTER, Ohio, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $5.8 million, or $2.64 per common share, for the year to date period ended September 30, 2023, a decrease of $799,000, or 12.1%, compared to $6.6 million, or $2.89 per common share, for the same period ended September 30, 2022. Net income excluding the merger-related expenses (non-GAAP) for the nine months ended September 30, 2023, was $6.4 million, or $2.91 per share. The decrease in net income was due to an increase in non-interest expenses, including the merger-related expenses of $624,000. The return on average equity and return on average assets for the nine months ended September 30, 2023, was 16.06% and 1.02%, respectively, compared to 18.34% and 1.33%, respectively, for the same period in 2022. Excluding merger-related expenses, return on average equity and return on average assets for the nine months ended September 30, 2023, was 17.71% and 1.12%, respectively.

Wayne Savings Bancshares, Inc. Announces Earnings for the nine months ending September 30, 2023

WOOSTER, Ohio, July 25, 2023 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $4.0 million, or $1.83 per common share, for the year to date period ended June 30, 2023, a decrease of $63,000, or 1.5%, compared to $4.1 million, or $1.75 per common share, for the same period ended June 30, 2022. Net income excluding the merger costs related to the Main Street merger (non-GAAP) for the six months ended June 30, 2023, was $4.5 million, or $2.03 per share. The decrease in net income was due to an increase in non-interest expenses, including the acquisition costs of $437,000. The return on average equity and return on average assets for the six months ended June 30, 2023, was 16.91% and 1.07%, respectively, compared to 16.34% and 1.26%, respectively, for the same period in 2022. Excluding merger related costs, return on average equity and return on average assets for the six months ended June 30, 2023, was 18.75% and 1.19%, respectively.

Wayne Savings Bancshares, Inc. Announces Earnings for the six months ending June 30, 2023

WOOSTER, Ohio, May 25, 2023 (GLOBE NEWSWIRE) -- On May 25, 2023, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the “Company”) held its 2023 Annual Meeting of Stockholders (the “Annual Meeting”). The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.

Wayne Savings Announces 2023 Annual Meeting Voting Results

WOOSTER, Ohio, April 20, 2023 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $2.3 million, or $1.04 per common share, for the quarter ended March 31, 2023, an increase of $212,000, or 10.3%, compared to $2.1 million, or $0.87 per common share, for the quarter ended March 31, 2022. The increase in net income was due to an increase in net interest income, partially offset with a decrease in non-interest income, and an increase in non-interest expenses. The return on average equity and return on average assets for the first quarter of 2023 was 19.58% and 1.23%, respectively, compared to 15.44% and 1.28%, respectively, for the same period in 2022.

Wayne Savings Bancshares, Inc. Announces Earnings for the First Quarter 2023

Highlights of the Announced Transaction: Pro forma assets of approximately $1.35 billion and a combined market capitalization of approximately $130 million. The combined company will have 18 branches, with a retail and lending presence covering Wooster, Ohio to Wheeling, West Virginia with exposure to the major metropolitan areas of Cleveland, Akron, Canton, Youngstown, and Pittsburgh.

Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. announce Merger of Equals transaction, creating a community bank with assets in excess of $1.3 billion.

Wayne Savings Bancshares, Inc. and Main Street Financial Services Corp. announce Merger of Equals transaction, creating a community bank with assets in excess of $1.3 billion

WOOSTER, Ohio, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank (the “Bank”), announced today that it was named to the 2023 OTCQX Best 50. In January 2023, OTCQX ranked Wayne Savings Bancshares, Inc. 28th on its 2023 OTCQX Best 50. Companies in the 2023 OTCQX Best 50 were ranked based on their performance during the 2022 calendar year.

Wayne Savings Bancshares, Inc. Ranks #28 on 2023 OTCQX Best 50

WOOSTER, Ohio, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported record net income (unaudited) of $9.0 million, or $3.98 per common share, for the year ended December 31, 2022, an increase of $1.6 million or 21.1%, compared to $7.4 million or $3.06 per common share, for the same period ended December 31, 2021. The increase in net income was due to growth in net interest income and an increase in non-interest income, partially offset with an increase in provision for loan losses, non-interest expenses, and provision for federal income taxes. The return on average equity and return on average assets for the year ended December 31, 2022, was 19.37% and 1.34%, respectively, compared to 14.00% and 1.19% for the same period in 2021.

Wayne Savings Bancshares, Inc. Announces Unprecedented Annual Earnings of $9.0 Million as a Result of Loan Growth for 2022 of 30.9%

WOOSTER, Ohio, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported record net income (unaudited) of $6.6 million, or $2.89 per common share, for the year-to-date period ended September 30, 2022, an increase of $954,000, or 16.9%, compared to $5.6 million, or $2.30 per common share, for the same period ended September 30, 2021. The increase in net income was due to an increase in net interest income and an increase in non-interest income, partially offset with an increase in non-interest expenses and provision for federal income taxes. The return on average equity and return on average assets for the nine months ending September 30, 2022, was 18.34% and 1.33%, respectively, compared to 14.17% and 1.21%, for the same period in 2021.

Wayne Savings Bancshares, Inc. Announces Record Earnings for the third quarter of 2022 and the nine-month period ended September 30, 2022; Loan growth annualized for the nine months ended September 30, 2022, was 29.4%

WOOSTER, Ohio, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Community Bank, a full-service financial institution with branch locations in six Ohio counties, is pleased to announce the promotion of Sean A. Fitzsimmons to Agricultural and Commercial Lender. “Wayne Savings is excited to welcome Sean to a team of seven agricultural and commercial lenders with more than 165 years of combined service. The expertise and customer service skills of our lenders are just two of the many reasons Wayne Savings is one of the fastest growing community banks in Ohio,” stated James R. VanSickle II, President and CEO. Sean will help individuals, small businesses and farms reach their financial goals and realize their dreams.

Wayne Savings Community Bank Announces the Appointment of Sean Fitzsimmons as Agricultural and Commercial Lender

WOOSTER, Ohio, July 21, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported record net income (unaudited) of $4.1 million, or $1.75 per common share, for the year to date period ended June 30, 2022, an increase of $397,000, or 10.8%, compared to $3.7 million, or $1.49 per common share, for the same period ended June 30, 2021. The increase in net income was due to an increase in net interest income and an increase in non-interest income partially offset with an increase in non-interest expenses. The return on average equity and return on average assets for the six months ending June 30, 2022 was 16.34% and 1.26%, respectively, compared to 13.88% and 1.20%, for the same period in 2021.

Wayne Savings Bancshares, Inc. Announces Record Earnings for six months ending June 30, 2022 and annualized loan growth of 26.5% for 2022

WOOSTER, Ohio, May 26, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc., (the “Company”) (OTCQX:WAYN), the holding company for Wayne Savings Community Bank, reported that it purchased 189,398 shares from a single shareholder. This completed the stock repurchase program announced on December 16, 2021.

Wayne Savings Bancshares, Inc. Announces the Completion of the December 2021 Stock Repurchase Program

WOOSTER, Ohio, April 29, 2022 (GLOBE NEWSWIRE) -- On April 28, 2022, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the “Company”) held its 2022 Annual Meeting of Stockholders (the “Annual Meeting”). The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.

Wayne Savings Announces 2022 Annual Meeting Voting Results

WOOSTER, Ohio, April 19, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $2.1 million, or $0.87 per common share, for the quarter ended March 31, 2022, an increase of $180,000, or 9.5%, compared to $1.9 million, or $0.76 per common share, for the quarter ended March 31, 2021. The increase in net income was due to an increase in net interest income and non-interest income, partially offset with an increase in non-interest expenses and increased provision for federal income taxes. The return on average equity and return on average assets for the first quarter of 2022 was 15.44% and 1.28%, respectively, compared to 14.22% and 1.26%, respectively, for the same period in 2021.

Wayne Savings Bancshares, Inc. Announces Record Earnings for the First Quarter 2022

WOOSTER, Ohio, April 05, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank (the “Bank”), has announced the nomination of Lance J. Ciroli as a director of both Wayne Savings Bancshares, Inc. and its wholly-owned subsidiary Wayne Savings Community Bank at the 2022 Annual Meeting to be held on April 28, 2022.

Wayne Savings Bancshares, Inc. Announces Changes in the Board of Directors

WOOSTER, Ohio, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported record net income (unaudited) of $7.4 million or $3.06 per common share for the year ended December 31, 2021, an increase of $747,000 or 11.2%, compared to $6.7 million or $2.63 per common share for the same period ended December 31, 2020. The increase in net income was due to growth in net interest income and a decrease in provision for loan losses, partially offset by a decrease in non-interest income, an increase in non-interest expense and an increase in provision for federal income taxes. The return on average equity and return on average assets for the year ended December 31, 2021, was 14.00% and 1.19%, respectively, compared to 13.26% and 1.25% for the same period in 2020.

Wayne Savings Bancshares, Inc. Announces Record Annual Earnings of $7.4 million and 16.2% Loan Growth for 2021

WOOSTER, Ohio, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc., (the “Company”) (OTCQX:WAYN), the holding company for Wayne Savings Community Bank, reported that its Board of Directors approved a new stock repurchase program. On December 16, 2021, the Board of Directors adopted a new 5% stock repurchase program authorizing the Company to repurchase up to an additional 118,707 shares.   The stock repurchase program may be limited or terminated at any time without prior notice. The previous stock repurchase program will be completed during the fourth quarter of 2021.

Wayne Savings Bancshares, Inc. Announces Adoption of a 5% Stock Repurchase Program

WOOSTER, Ohio, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank, reported net income (unaudited) of $1,952,000 or $0.81 per common share for the quarter ended September 30, 2021, compared to $1,949,000 or $0.77 per common share for the quarter ended September 30, 2020.   The increase in net income was due to an increase in net interest income offset by an increase in provision for loan losses, a decrease in non-interest income, and an increase in non-interest expense. The return on average equity and return on average assets for the third quarter of 2021 was 14.76% and 1.23%, respectively, compared to 15.38% and 1.42%, respectively, for the same period in 2020.

Wayne Savings Bancshares, Inc. announces record earnings for the third quarter of 2021 and the nine-month period ended September 30, 2021 with annualized loan growth in 2021 of 14.2%

WOOSTER, Ohio, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), the holding company parent of Wayne Savings Community Bank, is pleased to announce the opening of a new branch in Washingtonville, Ohio located at 795 Main West Street. The full-service branch opened on August 16, 2021.

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