Wayne Savings Bancshares, Inc. Declares Quarterly Dividend

Rhea-AI Summary

Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has announced a cash dividend of $0.23 per share for the quarter ending June 30, 2022. This dividend will be paid on August 3, 2022, to stockholders of record as of July 20, 2022. As of March 31, 2022, the company reported total assets of $652.7 million, deposits of $562.6 million, and stockholders' equity of $50.0 million, representing 7.7% of total assets. Wayne Savings Community Bank, the company’s subsidiary, operates 12 banking locations across Ohio.

Positive

• Declared a cash dividend of $0.23 per share, signaling confidence in company stability.
• Total assets reached $652.7 million as of March 31, 2022.
• Deposits amounting to $562.6 million indicate a solid funding base.

Negative

• Potential risks from changes in interest rates affecting net interest margin.
• Competitive pressures could impact net interest and noninterest income.
• General economic uncertainties may adversely affect loan and deposit demands.

WOOSTER, Ohio, June 30, 2022 (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 June 30, 2022. The quarterly cash dividend will be paid on August 3, 2022 to stockholders of record as of July 20, 2022.

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. 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.

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

FAQ

What is the dividend payment date for WAYN?

The dividend payment date for Wayne Savings Bancshares is August 3, 2022.

How much is the cash dividend declared by WAYN?

Wayne Savings Bancshares has declared a cash dividend of $0.23 per share.

What were the total assets of WAYN as of March 31, 2022?

Wayne Savings Bancshares reported total assets of $652.7 million as of March 31, 2022.

What is the record date for the dividend payment of WAYN?

The record date for the dividend payment is July 20, 2022.