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Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has declared a quarterly cash dividend of $0.21 per share for the quarter ending December 31, 2021. This dividend will be paid on January 19, 2022 to stockholders of record as of January 5, 2022. As of September 30, 2021, Wayne Savings Bancshares reported total assets of $627.6 million, deposits of $530.1 million, and stockholders’ equity of $53.0 million, representing 8.4% of total assets. Established in 1899, the bank operates twelve full-service locations across Ohio.
Wayne Savings Bancshares, Inc. (OTCQX: WAYN) reported a net income of $1.95 million ($0.81 per share) for Q3 2021, a slight increase from $1.95 million ($0.77 per share) in Q3 2020. For the nine months ended September 30, 2021, net income rose to $5.6 million ($2.30 per share), a 14.7% increase. Key performance metrics indicate a return on average equity of 14.17% and net interest income of $14.4 million.
Loan balances grew by 14.2% to $433.2 million, partly due to the successful opening of a new branch in Washingtonville, Ohio.
Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has announced a cash dividend of $0.21 per share for the quarter ending September 30, 2021. This dividend will be paid on November 3, 2021 to stockholders of record as of October 20, 2021. As of June 30, 2021, the company reported total assets of $628.7 million, deposits of $529.2 million, and stockholders’ equity of $52.0 million, representing 8.3% of total assets.
Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has opened a new branch in Washingtonville, Ohio, marking its first presence in Columbiana County. The full-service branch commenced operations on August 16, 2021. To celebrate, a grand opening event is scheduled for September 10, 2021, featuring a ribbon-cutting ceremony and festivities. The new location will provide a range of banking services to individuals and small to mid-size businesses, with a focus on personalized service and competitive pricing. The bank now operates twelve locations across Ohio.
Wayne Savings Bancshares, Inc. (OTCQX: WAYN) reported a net income of $1.8 million ($0.73/share) for Q2 2021, reflecting a 9.1% increase from Q2 2020. Key drivers included a rise in net interest income to $4.7 million (11.3% increase) and a reduced provision for loan losses. However, non-interest income fell by 12.9% to $737,000. The company’s total assets grew to $628.7 million, with net loans increasing by $26.1 million. Despite challenges, the efficiency ratio was 54.4%. Year-to-date, net income reached $3.7 million, up 24.3% year-over-year.
Wayne Savings Bancshares (OTCQX:WAYN) has announced a cash dividend of $0.21 per share for the quarter ending June 30, 2021. This dividend, payable on July 28, 2021, is for stockholders of record as of July 14, 2021. As of March 31, 2021, the company reported total assets of $613.3 million, deposits of $508.6 million, and stockholders’ equity of $52.4 million, representing 8.5% of total assets. Wayne Savings Community Bank operates eleven banking locations across Ohio.
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Wayne Savings Bancshares, Inc. (OTCQX: WAYN) held its 2021 Annual Meeting on April 29, 2021. Shareholders elected two directors: David L. Lehman with 1,291,904 votes and Glenn W. Miller with 1,323,872 votes. An advisory vote on executive compensation was approved, with 1,211,643 votes for and 373,915 against. Additionally, BKD, LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2021, with 2,001,798 votes in favor. CEO James VanSickle expressed gratitude for shareholder support during the meeting.
Wayne Savings Bancshares, Inc. (OTCQX: WAYN) reported a significant net income of $1.887 million ($0.76 per share) for Q1 2021, marking a 43.3% increase from $1.317 million ($0.51 per share) in Q1 2020. This growth was driven by higher net interest income, which rose 12.4% to $4.7 million, and a lower provision for loan losses of $163,000. The total assets surpassed $600 million for the first time, with robust growth in net loans and deposit accounts. However, the net interest margin decreased from 3.57% to 3.28% due to lower yields.