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, 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.