WAYNE SAVINGS BANCSHARES, INC.
DECLARES QUARTERLY DIVIDEND

EXHIBIT 99.1
NEWS RELEASE
NASDAQ SYMBOL: WAYN
RELEASE DATE: December 21, 2004
CONTACT: CHARLES F. FINN
                       CHAIRMAN AND CEO
                       MICHAEL C. ANDERSON
                       EXECUTIVE V.P., CFO
                       (330) 264-5767

FOR IMMEDIATE RELEASE

WOOSTER, OHIO – The Board of Directors of Wayne Savings Bancshares, Inc. (NASDAQ: WAYN), the stock holding company parent of Wayne Savings Community Bank of Wooster, Ohio, has declared a cash dividend of $.12 cents per share on the Company’s common stock for the quarter ending December 31, 2004. This represents an annualized dividend of $.48 cents per share. The quarterly cash dividend will be paid on January 14, 2005 to stockholders of record as of December 31, 2004.

        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%. Established in 1899, Wayne Savings Community Bank, the wholly-owned subsidiary of Wayne Savings Bancshares, Inc., has eleven full-service banking locations in Wayne, Holmes, Ashland, Medina, and Stark counties, Ohio.