GlobeNewswire Inc | Apr 30, 2021 02:01PM EDT

April 30, 2021

WOOSTER, Ohio, April 30, 2021 (GLOBE NEWSWIRE) -- On April 29, 2021, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the Company) held its 2021 Annual Meeting of Stockholders (the Annual Meeting). The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.

Proposal 1: To elect two (2) directors to serve until the 2024 annual meeting of stockholders.

The two nominees who received a plurality of FOR votes are elected as directors. The final report of the inspector of elections tabulation of voting results is set forth below:

Board of Directors Nominees:

Nominee For Withheld Broker Non-VotesDavid L. Lehman 1,291,904 330,439 432,293Glenn W. Miller 1,323,872 298,471 432,293

Proposal 2: Advisory vote on executive compensation.

According to the final report of the inspector of election tabulation voting results, stockholders adopted the advisory (non-binding) resolution to approve the Companys executive compensation, as described in the Companys proxy statement, by the votes indicated below:

For Against Abstain Broker Non-Votes1,211,643 373,915 36,785 432,293

Proposal 3: To ratify the appointment of BKD, LLP as the Companys independent registered public accounting firm for the year ending December 31, 2021.

According to the final report of the inspector of election tabulation of voting results, stockholders ratified the appointment of BKD, LLP as independent registered public accounting firm for the year ending December 31, 2021, by the votes indicated below:

For Against Abstain Broker Non-Votes2,001,798 39,297 13,541 -

President and CEO James VanSickle commented on the results, We appreciate the support of our shareholders for voting with the recommendations for every proposal this year. 2020 was the best year in the history of the Company and it would not have been possible without the support of our shareholders, customers and amazing employees. I would like to thank you for your support of Wayne Savings and giving us an opportunity to make a difference in our communities.

Executive Chair Mark R. Witmer echoed VanSickles appreciation for the shareholder support, and added, I am excited to continue the growth of Wayne Savings in 2021 while supporting our local customers and businesses in reaching their financial goals and realizing their dreams.

Forward-Looking-StatementsThis release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect managements current assumptions and estimates of future economic circumstances, industry conditions, Company performance and financial results. A variety of factors could cause the Companys actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this letter and in the Managements Discussion and Analysis in our most recent Annual Report for the year ended December 31, 2020. The forward-looking statements in this letter speak only as to the date of this release. Wayne Savings Bancshares, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based.

Contact Information: James R. VanSickle President and Chief Executive Officer(330) 264-5767