WAYNE SAVINGS BANCSHARES, INC. Ranks #50 on American Banker Magazine’s Top 200 Community Banks and Thrifts List for 2021

Wooster, Ohio, UNITED STATES


WOOSTER, Ohio, June 03, 2021 (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 American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts. In its May 2021 issue, American Banker ranked Wayne Savings Bancshares, Inc. 50th on its Top 200 Publicly Traded Community Banks and Thrifts based on a three-year average return on equity as of December 31, 2020 (Source: Capital Performance Group).

“Wayne Savings is honored to have made American Banker’s Top 200 list for the first time,” said Jay R. VanSickle, President and CEO. “We have worked diligently to improve our financial results and become a top performing community bank. This recognition is a testament to our wonderful team of community bankers who work tirelessly to serve the needs of our customers and our communities.”

Established in 1899, Wayne Savings Community Bank, the wholly owned subsidiary of Wayne Savings Bancshares, Inc., has eleven full-service banking locations in the communities of Wooster, Ashland, Millersburg, Rittman, Lodi, North Canton, Creston and Fredericksburg, Ohio. The Bank also has a loan production office in Washingtonville, Ohio. At March 31, 2021, Wayne Savings Bancshares, Inc. reported total assets of $613.3 million, deposits of $508.6 million, and stockholders’ equity of $52.4 million, or 8.5% of total assets.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company's market area; changes in asset quality, general economic conditions as well as 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 such statements were made.

Contact:

Wayne Savings Bancshares, Inc.
James R. VanSickle, II
President and Chief Executive Officer
330-264-5767