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Wayne Savings Bancshares (OTCQX: WAYN), the holding company of Wayne Savings Community Bank, and Main Street Financial Services (OTCPK: MSWV), the holding company of Main Street Bank, have completed their merger as of May 31, 2024. Wayne shareholders will receive 1.7446 shares of Main Street common stock per Wayne share, with cash for fractional shares. Customers of both banks should continue banking as usual, with a systems integration and rebranding to Main Street Bank expected in Q2 2024. Advisors for the deal included Piper Sandler & Co., Raymond James & Associates, Dinsmore & Shohl LLP, and Jackson Kelly PLLC.
Wayne Savings Bancshares, Inc. announced the results of the 2024 special meeting where shareholders approved the merger with Main Street Financial Services Corp. Voting results showed a 95% approval rate for the merger agreement, indicating strong shareholder support. President and CEO James VanSickle expressed satisfaction with the outcome, highlighting the commitment to community banking.
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