EXHIBIT
      99.1


**NEWS
      RELEASE**





**FOR
      RELEASE: IMMEDIATELY**





**WAYNE
      SAVINGS BANCSHARES, INC. ANNOUNCES EARNINGS FOR THE QUARTER AND YEAR ENDED
      MARCH
      31, 2007**





Wooster,
      Ohio (April 26, 2007) – Wayne
      Savings Bancshares, Inc. (NASDAQ:WAYN), the stock holding company parent of
      Wayne Savings Community Bank, reported net earnings for the fiscal year ended
      March 31, 2007 of $2.2 million, or $0.68 per diluted share, compared to net
      earnings of $1.6 million, or $0.50 per diluted share for the fiscal year ended
      March 31, 2006.  The increase in earnings for the fiscal year was
      primarily due to a decrease in general, administrative and other expense and
      the
      provision for losses on loans, partially offset by decreases in net interest
      income and other income and an increase in federal income tax
      expense.





Net
      interest income decreased $196,000
      for fiscal 2007 compared to fiscal 2006.  Interest income increased
      $2.7 million during fiscal 2007 from fiscal 2006, as a result of prime rate
      increases and a shift in balance sheet composition from lower yielding
      investment securities and residential mortgage loans toward higher yielding
      commercial real estate loans and mortgage-backed securities.  Interest
      expense increased $2.9 million during fiscal 2007 from fiscal 2006 as a result
      of increased rates paid on certificates of deposit and a shift in deposit
      composition from savings and checking deposits to higher rate certificates
      of
      deposit.  Other income decreased $111,000, due primarily to the
      absence in the fiscal 2007 period of a $153,000 non-recurring gain on Bank
      Owned
      Life Insurance (BOLI) and cyclical gains of $67,000 on sale of loans that were
      included in the fiscal 2006 period, partially offset by an increase of $50,000
      in trust fees and an increase of $60,000 in other service charges.





General,
      administrative and other expense for fiscal 2007 decreased by $1.1 million
      due
      primarily to staff reductions during the period, the absence of non-recurring
      pension expense incurred during fiscal 2006 due to the death of the Company’s
      former chairman, president, and chief executive officer in November 2005, and
      refunds of franchise tax expense.  Federal income tax expense
      increased by $415,000 due to increased pre-tax income and an increasing
      proportion of taxable income due to the maturity of tax exempt securities in
      the
      investment portfolio and the reduction of BOLI income due to death benefits
      received in the 2006 period.





For
      the
      fourth fiscal quarter ended March 31, 2007, net earnings were $521,000, or
      $0.17
      per diluted share, compared to $562,000 or $.18 per diluted share for the
      quarter ended March 31, 2006.  The decrease in earnings was primarily
      due to decreases in net interest income and other income, combined with an
      increase in federal income tax expense, partially offset by a decrease in
      general, administrative and other expense.





Net
      interest income decreased $162,000
      for the quarter ended March 31, 2007, compared to the quarter ended March 31,
      2006.  Interest income increased $489,000 during the 2007 quarter as a
      result of prime rate increases and a shift in balance sheet composition from
      lower yielding investment securities and residential mortgage loans toward
      higher yielding commercial real estate loans and mortgage-backed
      securities.





MORE











PAGE
      2





Interest
      expense increased $651,000 during the quarter as a result of increased rates
      paid on certificates of deposit and a shift in deposit composition from savings
      and checking deposits to higher rate certificates of deposit.  The
      provision for losses on loans decreased by $181,000 due to a decrease in loan
      volume, a decrease in the level of charge-offs, and a stable level of
      non-performing loans year to year.  Other income decreased $80,000,
      mainly due to a non-recurring gain on Bank Owned Life Insurance (BOLI) in the
      2006 period and an increase in the amortization of mortgage servicing rights,
      partially offset by an increase of $11,000 in trust fees.  General,
      administrative and other expense decreased $55,000 for the quarter ended March
      31, 2007 compared to the quarter ended March 31, 2006 primarily due to staff
      reductions and a refund of franchise tax overpayments, partially offset by
      increased pension expense due to lump sum settlements paid to participants
      exiting the pension plan during the 2007 quarter.  Federal income tax
      expense increased $35,000 as the proportion of taxable income increased due
      to a
      decreasing proportion of tax exempt securities in the investment portfolio
      and a
      reduced BOLI portfolio due to the receipts of death benefits in the 2006
      period.





According
      to Phillip E. Becker, President and Chief Executive Officer, “the Company has
      continued its strategic initiatives of growing the commercial lending and trust
      businesses while putting additional focus on controlling non-interest expense
      to
      offset the increasing interest expense brought on by a flat to inverted yield
      curve and increased competition for consumer and commercial deposit
      accounts.”





At
      March 31, 2007, Wayne Savings
      Bancshares, Inc. reported total assets of $405.9 million, an increase of $2.2
      million or 0.5%, from total assets of $403.7 million at March 31,
      2006.  Deposits increased $970,000 or 0.3% to $333.5 million from
      $332.6 million at March 31, 2006.   Stockholders’ equity at March
      31, 2007 amounted to $34.6 million, or 8.52% of total assets, compared to $35.5
      million, or 8.80% of total assets at March 31, 2006.  The decrease in
      stockholders’ equity was due to the $2.8 million repurchase of shares and the
      payment of dividends, partially offset by the addition of the net income
      discussed above and a decrease in accumulated other comprehensive
      loss.





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, and Creston,
      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 documents filed by the Company with the
      Securities and Exchange Commission from time to time. 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.*







**CONTACT
                PERSON:**
            **H.
                STEWART FITZ GIBBON III**
              **EXECUTIVE
                VICE PRESIDENT**
              **CHIEF
                FINANCIAL OFFICER**
              **(330)
                264-5767**











**WAYNE
                            SAVINGS BANCSHARES, INC.****CONSOLIDATED
                            STATEMENTS OF CONDITION**(Dollars
                            in thousands, except per share data)March
                            31, 2007
                        
                        
                        March
                            31, 2006(Unaudited)**ASSETS**Cash,
                            cash equivalents, & investment securities (1)
                        
                        $
                        71,908
                        
                        
                        $
                        87,430Mortgage-backed
                            securities, net (1)
                        
                        
                        69,065
                        
                        
                        
                        55,731Loans
                            receivable, net
                        
                        
                        240,049
                        
                        
                        
                        235,312Federal
                            Home Loan Bank stock
                        
                        
                        4,829
                        
                        
                        
                        4,623Office
                            premises & equipment, net
                        
                        
                        8,179
                        
                        
                        
                        8,557Real
                            estate acquired through foreclosure
                        
                        
                        0
                        
                        
                        
                        156Other
                            assets
                        
                        
                        11,846
                        
                        
                        
                        11,870**TOTAL  ASSETS**
                        
                        $
                        405,876
                        
                        
                        $
                        403,679**LIABILITIES
                            AND STOCKHOLDERS' EQUITY**Deposit
                            accounts
                        
                        $
                        333,540
                        
                        
                        $
                        332,570Advances
                            from Federal Home Loan Bank
                        
                        
                        34,500
                        
                        
                        
                        32,750Advances
                            by borrowers for taxes & insurance
                        
                        
                        616
                        
                        
                        
                        521Accounts
                            payable on mortgage loans serviced for others
                        
                        
                        197
                        
                        
                        
                        225Other
                            liabilities
                        
                        
                        2,447
                        
                        
                        
                        2,097**TOTAL
                            LIABILITIES**
                        
                        
                        371,300
                        
                        
                        
                        368,163Common
                            stock (3,978,731 and 3,934,874 shares of $.10 par value
                            issued
                            atMarch
                            31, 2007 and March 31, 2006, respectively)
                        
                        
                        398
                        
                        
                        
                        393Additional
                            paid-in capital
                        
                        
                        36,249
                        
                        
                        
                        35,604Retained
                            earnings
                        
                        
                        11,982
                        
                        
                        
                        11,394Less
                            required contributions for shares acquired by Employee
                            Stock Ownership
                            Plan
                        
                        
                        (1,158
                        )
                        
                        
                        (1,239
                        )Less
                            Treasury Stock (784,622 and 595,322 shares at March 31,
                            2007
                            andMarch
                            31, 2006, respectively)
                        
                        
                        (12,419
                        )
                        
                        
                        (9,625
                        )Accumulated
                            other comprehensive loss
                        
                        
                        (476
                        )
                        
                        
                        (1,011
                        )**TOTAL
                            STOCKHOLDERS' EQUITY**
                        
                        
                        34,576
                        
                        
                        
                        35,516**TOTAL
                            LIABILITIES AND STOCKHOLDERS' EQUITY**
                        
                        $
                        405,876
                        
                        
                        $
                        403,679(1)  Includes  available
                            for sale classifications.










**WAYNE
                        SAVINGS BANCSHARES, INC.****CONSOLIDATED
                        STATEMENTS OF EARNINGS**(Dollars
                        in Thousands -- unaudited)Three
                        Months Ended
                    
                    
                    Twelve
                        Months EndedMarch
                        31,
                    
                    
                    March
                        31,2007
                    
                    
                    2006
                    
                    
                    2007
                    
                    
                    2006Interest
                        income
                    
                    $
                    5,717
                    
                    
                    $
                    5,228
                    
                    
                    $
                    22,410
                    
                    
                    $
                    19,688Interest
                        expense
                    
                    
                    2,966
                    
                    
                    
                    2,315
                    
                    
                    
                    11,198
                    
                    
                    
                    8,280Net
                        interest income
                    
                    
                    2,751
                    
                    
                    
                    2,913
                    
                    
                    
                    11,212
                    
                    
                    
                    11,408Provision
                        for losses on loans
                    
                    
                    30
                    
                    
                    
                    211
                    
                    
                    
                    100
                    
                    
                    
                    211Net
                        interest income after provision for loan losses
                    
                    
                    2,721
                    
                    
                    
                    2,702
                    
                    
                    
                    11,112
                    
                    
                    
                    11,197Other
                        income
                    
                    
                    376
                    
                    
                    
                    456
                    
                    
                    
                    1,666
                    
                    
                    
                    1,777General,
                        administrative, and other expense
                    
                    
                    2,387
                    
                    
                    
                    2,442
                    
                    
                    
                    9,767
                    
                    
                    
                    10,899Earnings  before
                        federal income taxes
                    
                    
                    710
                    
                    
                    
                    716
                    
                    
                    
                    3,011
                    
                    
                    
                    2,075Federal
                        income taxes
                    
                    
                    189
                    
                    
                    
                    154
                    
                    
                    
                    850
                    
                    
                    
                    435Net
                        earnings
                    
                    $
                    521
                    
                    
                    $
                    562
                    
                    
                    $
                    2,161
                    
                    
                    $
                    1,640Earnings
                        per shareBasic
                    
                    $
                    0.17
                    
                    
                    $
                    0.18
                    
                    
                    $
                    0.68
                    
                    
                    $
                    0.50Diluted
                    
                    $
                    0.17
                    
                    
                    $
                    0.18
                    
                    
                    $
                    0.68
                    
                    
                    $
                    0.50Dividends
                        per share
                    
                    $
                    0.12
                    
                    
                    $
                    0.12
                    
                    
                    $
                    0.48
                    
                    
                    $
                    0.48











**WAYNE
                                    SAVINGS BANCSHARES, INC.****CONSOLIDATED
                                    FINANCIAL HIGHLIGHTS**(Dollars
                                    in thousands, except per share data - unaudited)For
                                    the Three Monthsended
                                    March 31,2007
                                
                                
                                2006Quarterly
                                    ResultsNet
                                    Interest Income
                                
                                $
                                2,751
                                
                                
                                $
                                2,913Net
                                    Earnings
                                
                                $
                                521
                                
                                
                                $
                                562Earnings
                                    Per Share:Basic
                                
                                
                                0.17
                                
                                
                                
                                0.18Diluted
                                
                                
                                0.17
                                
                                
                                
                                0.18Return
                                    on Average Assets (Annualized)
                                
                                
                                0.51
                                %
                                
                                
                                0.56
                                %Return
                                    on Average Equity (Annualized)
                                
                                
                                5.97
                                %
                                
                                
                                5.90
                                %For
                                    the Twelve Monthsended
                                    March 31,2007
                                
                                
                                2006Year
                                    to Date ResultsNet
                                    Interest Income
                                
                                $
                                11,212
                                
                                
                                $
                                11,408Net
                                    Earnings
                                
                                $
                                2,161
                                
                                
                                $
                                1,640Earnings
                                    Per Share:Basic
                                
                                
                                0.68
                                
                                
                                
                                0.50Diluted
                                
                                
                                0.68
                                
                                
                                
                                0.50Return
                                    on Average Assets
                                
                                
                                0.53
                                %
                                
                                
                                0.42
                                %Return
                                    on Average Equity
                                
                                
                                6.17
                                %
                                
                                
                                4.42
                                %March
                                    31,
                                
                                
                                March
                                    31,2007
                                
                                
                                2006End
                                    of Period DataTotal
                                    Assets
                                
                                $
                                405,876
                                
                                
                                $
                                403,679Stockholders'
                                    Equity to Total Assets
                                
                                
                                8.52
                                %
                                
                                
                                8.80
                                %