Wayne Savings Bancshares, Inc. (WAYN) Reports Second Quarter Profit
Wayne Savings Bancshares, Inc. reported earnings for its second fiscal quarter of 2009 totaling $652,000, or $0.23 per share. This was up slightly from the $601,000, or $0.21 per share, it reported in the same quarter last year. Wayne Savings Bancshares, Inc. achieved year over year growth in net income despite a quadrupling of loan loss reserves from $100,000 to $380,000. The bank reported 1.37%, or $5.5 million, of its total assets as nonperforming as of 9/30/2009. The bank saw its net interest income increase $284,000 on a year over year basis as interest expenses fell by a greater amount…