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Wayne Savings Bancshares, Inc. Announces the Appointment of Mark R. Witmer as Executive Chair

WOOSTER, Ohio, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), the holding company parent of Wayne Savings Community Bank, announced that the Board of Directors has appointed Mark R. Witmer to the position of Executive Chair of the Board for the Company and the Bank. Mr. Witmer will replace Peggy J. Schmitz as Chair of the Board of Directors.

Peggy J. Schmitz has been a board member since 2008 and served as Chair of the Board of Directors since 2012. Ms. Schmitz has led the organization and Board of Directors through transformational years resulting in two consecutive years of record earnings.   Ms. Schmitz will be stepping down as Chair of the Board of Directors but will continue to serve as a highly involved member of the board.

Mr. Witmer has more than 28 years of community banking experience, including commercial lending, agricultural lending and mortgage banking. Most recently Mr. Witmer served as Senior Executive Vice President and Chief Banking Officer of The Farmers National Bank of Canfield. Mr. Witmer served as the Chief Executive Officer of First National Bank of Orrville prior to the merger with The Farmers National Bank of Canfield.

Ms. Schmitz commented, “Mark brings a wealth of experience and an impressive track record of success to Wayne Savings.  His skills complement those of our leadership team, and his passion for community banking aligns perfectly with our vision for the future of the bank.  With the addition of Mark to the Wayne Savings team, we are well prepared to continue the trajectory established over the last few years by Jay and his staff.”

Mr. Jay VanSickle, President and CEO, added, “We are excited to add Mark to our talented group of directors and benefit from his years of experience as one of the best community bankers in Ohio. He brings a track record of achievement and integrity from every stop in his very successful career. Mark is a proven talented leader who has a knack for building highly successful and nationally recognized community banking teams. We are thrilled to have an opportunity to add Mark to our team and benefit from his guidance on a regular basis. I would also like to thank Peggy for her leadership during our transformation to a successful and profitable community bank.   The achievements of the organization would not have been possible without her direction and perseverance.”

Mr. Witmer commented, “Throughout my banking career I have developed a great appreciation for true community banking and the role we play in helping individuals, small businesses and farms in reaching their financial goals and realizing their dreams. As a former dairy farmer and someone who still farms as a hobby, I certainly feel a connection to the agribusiness customers and very much look forward to working with them. I know and love the Wayne County area. Previous positions of mine provided me with the opportunity to serve Wayne County and I am eager to continue to fulfill the needs of the community, as well as to extend the footprint of Wayne Savings to surrounding areas. I am extremely excited to join the Board and the entire team here at Wayne Savings as we continue to grow and serve the community.”

Established in 1899, Wayne Savings Community Bank, the wholly owned subsidiary of Wayne Savings Bancshares, Inc., has eleven full-service banking locations in the communities of Wooster, Ashland, Millersburg, Rittman, Lodi, North Canton, Creston, and Fredericksburg, Ohio.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to; changes in interest rates which could affect net interest margins and net interest income; competitive factors which could affect net interest income and noninterest income; changes in demand for loans, deposits and other financial services in the Company's market area; changes in asset quality, general economic conditions as well as other factors discussed in the companies communications to shareholders. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

James R. (Jay) VanSickle II
President & Chief Executive Officer
(330) 264-5767

Mark R. Witmer

Executive Chair of the Board of Directors

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