Wayne Savings Bancshares, Inc. Announces the Election of Rod C. Steiger as President and CEO

Wayne Savings Bancshares, Inc.

announced that the Board of Directors has appointed director Rod Steiger to the positions of President and Chief Executive Officer of both the Company and the Bank, effective January 15, 2011. Phillip E. Becker, Director, President and Chief Executive Officer of both the Company and the Bank will retire on January 14, 2011. Mr. Steiger has been in health care the past five years, currently serving as Director, President, and Chief Executive Officer of The Orrville Hospital Foundation dba Dunlap Community Hospital, Orrville, Ohio. He previously spent many years in banking, most recently as Chief Executive Officer of The Savings Bank and Trust Company in Orrville, Ohio. Mr. Steiger joined the Boards of Wayne Savings Bancshares, Inc. and Wayne Savings Community Bank in February 2008 and currently serves as Chairman of the Audit Committee. Mr. Steiger will continue as a director of both the Company and the Bank.