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Ticker:WAYN
Company Name: Wayne Savings Bancshares Inc.

Business Overview from 10-K filing for Wayne Savings Bancshares Inc.:

Wayne Savings Bancshares, Inc. (the "Company"), initially was a federal corporation which was organized on August 5, 1997. The Company was majority-owned by Wayne Savings Bankshares, M.H.C., a federally-chartered mutual holding company (the "Mutual Holding Company" or "M.H.C."). On November 25, 1997, the Company acquired all of the issued and outstanding common stock of Wayne Savings Community Bank (the "Bank") in connection with the Bank's reorganization into the "two-tier" form of mutual holding company ownership. In fiscal 2002, the Board of Directors of the M.H.C. adopted a plan of conversion and reorganization (the "plan") to convert the M.H.C. from mutual to stock form and to complete a related stock offering in which shares of common stock representing the M.H.C.'s ownership interest in the Company would be sold to investors. The only significant asset of the Company is its investment in the Bank.  g   

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