Wayne Savings Bancshares Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2009. The company reported net earnings of $652,000, or $0.23 per basic and diluted share for the second quarter ended September 30, 2009, compared to $601,000 or $0.21 per basic and diluted share for the second quarter ended September 30, 2008. The increase in earnings was primarily due to an increase in net interest income resulting from decreased interest expense on deposits, partially offset by decreased interest income on loans and investments and further offset by an increase in the provision for loan losses. Net interest income was $3,334,000 for the quarter ended September 30, 2009, compared to $3,050,000 for the quarter ended September 30, 2008. The company reported interest income of $5,075,000 compared to $5,432,000 for the same period of last year. Interest income decreased $357,000 during the 2009 quarter mainly as a result of lower overall market interest rates during the 2009 quarter compared to the 2008 quarter and the corresponding impact on new originations and existing adjustable rate loans. The company reported income before federal income taxes of $862,000 compared to $825,000 for the same period of last year. The company reported return on average assets of 0.65% and return on average equity of 7.24% compared to return on average assets of 0.60% and return on average equity of 7.38% for the same period of last year. For the six month period ended September 30, 2009, net earnings totaled $1,184,000 or $0.41 per basic and diluted share, compared to net earnings of $1,132,000 or $0.39 per basic and diluted share for the six month period ended September 30, 2008. Net interest income was $6,582,000 for the six months ended September 30, 2009 compared to $5,895,000 for the six months ended September 30, 2008. The company reported interest income of $10,217,000 compared to $10,864,000 for the same period of last year. Interest income decreased $647,000 for the 2009 six month period compared to the same period in 2008, as a result of lower overall market interest rates during the 2009 period compared to the 2008 period and the corresponding impact on new originations and existing adjustable rate loans. The company reported income before federal income taxes of $1,541,000 compared to $1,523,000 for the same period of last year. The company reported return on average assets of 0.59% and return on average equity of 6.69% compared to return on average assets of 0.57% and return on average equity of 6.94% for the same period of last year. Book value per common share was $12.16 as of September 30, 2009 compared to book value per common share of $11.46 as of March 31, 2009.

Wayne Savings Bancshares Inc. has declared a cash dividend of $0.05 per share on the company's common stock for the quarter ending September 30, 2009. This represents an annualized dividend of $0.20 per share. The quarterly cash dividend will be paid on October 28, 2009 to stockholders of record as of October 14, 2009.

Wayne Savings Bancshares Inc. reported unaudited consolidated earnings results for the first quarter ended June 30, 2009. For the quarter, the company reported interest income of $5.142 million and income before federal income taxes of $679,000 compared to the interest income of $5.432 million and income before federal income taxes of $698,000 for the same period a year ago. The company reported return on average assets of 0.52% and return on average equity of 6.13% compared to the return on average assets of 0.53% and return on average equity of 6.37% for the same period a year ago. The company reported book value per share of $11.64 compared to the book value per share of $11.46 for the same period a year ago.