8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 27, 2004

WAYNE SAVINGS BANCSHARES, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation) 0-23433
(Commission File No.) 31-1557791
(IRS Employer Identification No.)

151 N. Market St., Wooster, Ohio
(Address of principal executive offices) 44691
(Zip Code)

Registrant's telephone number, including area code:  (330) 264-5767

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨    Pre-commencement communications pursuant to Rule 13ec-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 5.02   Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

(a) Not applicable.

(b) Not applicable.

(c) On December 27, 2004, Wayne Savings Bancshares, Inc. announced the hiring of Phillip E. Becker as Chief Lending Officer, effective January 1, 2005. A copy of the press release dated December 27, 2004 is attached as Exhibit 99 to this report.

Item 9.01   Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(c) Exhibits.

Exhibit No.

99 Description

Press release, dated December 27, 2004

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DATE:   December 27, 2004

WAYNE SAVINGS BANCSHARES, INC.


By: /s/ Charles F. Finn
Charles F. Finn
President and Chief Executive Officer

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EX-99

WAYNE SAVINGS BANCSHARES, INC.
ANNOUNCES ORGANIZATIONAL
CHANGES, NEW SERVICES

EXHIBIT 99.1
NEWS RELEASE
NASDAQ SYMBOL: WAYN
RELEASE DATE: December 27, 2004
CONTACT: CHARLES F. FINN
                       CHAIRMAN AND CEO
                       MICHAEL C. ANDERSON
                       EXECUTIVE V.P., CFO
                       (330) 264-5767

FOR IMMEDIATE RELEASE

WOOSTER, OHIO – Management and the Board of Directors of Wayne Savings Bancshares, Inc. (NASDAQ: WAYN), the stock holding company parent of Wayne Savings Community Bank, have announced the Company’s strategic plans for organizational restructuring and new services. According to Charles Finn, Chairman and Chief Executive Officer, the actions taken are designed to broaden Wayne Savings’ products and services and further strengthen its position as the area’s premier independent community bank.

        Effective January 1, 2005, Phillip E. Becker will join Wayne Savings’ management team as Chief Lending Officer. The expansion of all lending programs will be under Becker’s direction, including commercial, mortgage, and consumer loans. He will also supervise the personal banking and loan servicing managers.

        A Wayne County native and a graduate of Ashland University, Becker is a 30-year veteran of the banking industry with extensive experience in all phases of lending. He has held various lending positions with local commercial banks, and he was formerly the president of an area financial institution.

        It was also announced that Wayne Savings Community Bank will file an application with the appropriate regulatory agencies for trust powers. Wendy Blosser, a Certified Trust and Financial Advisor and an experienced trust professional, has joined Wayne Savings as Senior Trust Officer to establish the new trust department.

        Blosser is a graduate of Malone College, Cannon Financial Institute, and Midwest Trust School. She has been in banking since 1985, most recently serving as Senior Trust Officer at an area bank that was acquired.

        While increasing the scope of the Bank’s lending programs and establishing trust services, Wayne Savings will also expand electronic services by offering Internet banking. The Internet banking program will also feature online bill paying, personal finance management, electronic statements, and cash management for commercial accounts. The new service is scheduled for April 2005.

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EXHIBIT 99

        Chairman Charles Finn stated, “We are very excited about our senior staff expansion, the new direction of our lending programs and additional services, which we believe will present opportunities for growth and retention of customer relationships. Although the increased staffing levels and the expansion of services will initially increase our administrative costs, we are hopeful the anticipated loan growth and trust services will translate into increased growth and profitability for our Company.

        Established 105 years ago in Wooster, Ohio, Wayne Savings Community Bank, the wholly owned subsidiary of Wayne Savings Bancshares, Inc., is the largest independent community bank headquartered in its five county market area of Wayne, Holmes, Ashland, Medina, and Stark counties. At September 30, 2004, Wayne Savings Bancshares, Inc. had total assets of $381.5 million, deposits of $311.9 million, and stockholders’ equity of $41.9 million, resulting in a capital-to-assets ratio of 11.0%.

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