Wayne Savings Bancshares, Inc. –

WOOSTER, Ohio, March 31, 2022 (GLOBE NEWSWIRE) — Wayne Savings Bancshares, Inc. (OTCQX: WAYN), (the “Company”), the parent company of Wayne Savings Community Bank (the “Bank”), said an increase in the cash dividend from $0.02 to $0.23 per common share of the Company for the quarter ending March 31, 2022. The quarterly cash dividend will be paid on May 4, 2022 to shareholders of record as of April 20, 2022 .

Founded in 1899, Wayne Savings Community Bank, a wholly owned subsidiary of Wayne Savings Bancshares, Inc., has twelve full-service banking locations in the communities of Wooster, Ashland, Millersburg, Rittman, Lodi, North Canton, Creston, Fredericksburg and Washingtonville . , Ohio. As of December 31, 2021, Wayne Savings Bancshares, Inc. reported total assets of $636.0 million, deposits of $540.5 million and shareholders’ equity of $53.6 million, or 8.4% of total assets.

Statements in this press release that are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause different actual results. substantially from those currently projected due to a number of factors. Factors that could cause material variations include, but are not limited to, changes in interest rates which may affect net interest margins and net interest income, competitive factors which may affect the net interest income and non-interest income, changes in demand for loans, deposits and other financial services in the Company’s market area; changes in asset quality, general economic conditions and other factors discussed in documents filed by the Company from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which these statements were made.


Wayne Savings Bancshares, Inc.
James R. VanSickle, II
President and CEO


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