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

Rhea-AI Summary

Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has completed its stock repurchase program, buying back 189,398 shares from a single shareholder. The CEO emphasized the company's commitment to enhancing shareholder value through sound earnings and dividends. As of March 31, 2022, Wayne Savings reported total assets of $652.7 million and stockholders' equity of $50.0 million, representing 7.7% of total assets. The company operates twelve banking locations across Ohio, dedicated to efficient capital management and increasing shareholder returns.

Positive

• Completed stock repurchase program enhances shareholder value.
• Total assets reached $652.7 million, indicating financial stability.
• Stockholders' equity stands at $50.0 million, 7.7% of total assets.

Negative

• None.

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.

President and CEO James R. VanSickle commented, “We remain committed to building shareholder value through strong earnings, cash dividends and stock repurchase programs.  Our Board of Directors remains motivated to efficiently manage the Company’s capital levels, while increasing total return to our shareholders.”

At March 31, 2022, Wayne Savings Bancshares, Inc. reported total assets of $652.7 million, deposits of $562.6 million, and stockholders’ equity of $50.0 million, or 7.7% of total assets.

Established in 1899, Wayne Savings Community Bank, the 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.

Contact Information:
James R. VanSickle II
President and Chief Executive Officer
330-264-5767

FAQ

What is the recent stock repurchase amount by Wayne Savings Bancshares?

Wayne Savings Bancshares completed a stock repurchase of 189,398 shares.

What are the reasons for the stock buyback by WAYN?

The buyback aims to enhance shareholder value and efficiently manage the company's capital.

How does the stock repurchase affect Wayne Savings Bancshares' stock price?

The stock repurchase is expected to positively influence stock price by reducing share supply.

What are the latest financial figures of Wayne Savings Bancshares?

As of March 31, 2022, total assets were $652.7 million with stockholders' equity of $50.0 million.