UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                               ------------------

                                    FORM 11-K

(Mark One):

[X]   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934

For the fiscal year ended December 31, 2005

                                       OR

[_]   TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

For the transition period from ______________ to ___________

                         Commission file number: 0-23433


A.    Full title of the plan and address of the plan, if different from that of
      the issuer named below:


                      Wayne Savings 401(k) Retirement Plan

B.    Name of issuer of the securities held pursuant to the plan and the address
      of its principal executive office:

                         Wayne Savings Bancshares, Inc.
                             151 North Market Street
                               Wooster, Ohio 44691




<PAGE>


                              REQUIRED INFORMATION

         Financial  Statements.  The following financial statements and schedule
are filed as part of this Annual Report for the Wayne Savings 401(k)  Retirement
Plan (the "Plan"):

                                                                        Page No.
                                                                        --------

Report of Independent Registered Public Accounting Firm........................3

      Financial Statements

           Statements of Net Assets Available for Benefits.....................4

           Statements of Changes in Net Assets Available for Benefits..........5

           Notes to Financial Statements.......................................6

      Supplemental Schedule

           Schedule H, Line 4i - Schedule of Assets (Held at End of Year).....10


                                       2
<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Trustees
Wayne Savings 401(k) Retirement Plan

We have audited the accompanying statements of net assets available for benefits
of Wayne Savings 401(k)  Retirement  Plan (the Plan) as of December 31, 2005 and
2004, and the related  statement of changes in net assets available for benefits
for the year  ended  December  31,  2005.  These  financial  statements  are the
responsibility  of the Plan's  management.  Our  responsibility is to express an
opinion on these financial statements based on our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  The Plan is not required to have,
nor were we  engaged  to perform an audit of  internal  control  over  financial
reporting.  Our audit included  consideration of internal control over financial
reporting as a basis for designing audit  procedures that are appropriate in the
circumstances,  but  not  for  the  purpose  of  expressing  an  opinion  on the
effectiveness  of  the  Plan's  internal   control  over  financial   reporting.
Accordingly,  we express no such opinion. An audit also includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements,  assessing the accounting  principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audits  provide a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the net assets available for benefits of the Plan as of
December 31, 2005 and 2004, and the changes in net assets available for benefits
for the year ended December 31, 2005, in conformity with  accounting  principles
generally accepted in the United States of America.

Our audits  were  conducted  for the  purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental  schedule of assets held
for investment  purposes is presented for purposes of additional analysis and is
not a required  part of the basic  financial  statements,  but is  supplementary
information  required by the  Department  of Labor's Rules and  Regulations  for
Reporting and Disclosure  under the Employee  Retirement  Income Security Act of
1974. This supplemental  schedule has been subjected to the auditing  procedures
applied in the audit of the basic financial  statements and, in our opinion,  is
fairly  stated in all  material  respects  in  relation  to the basic  financial
statements taken as a whole.


/s/GRANT THORNTON LLP


Cincinnati, Ohio
June 9, 2006

                                       3
<PAGE>


                      Wayne Savings 401(k) Retirement Plan

                 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

                           December 31, 2005 and 2004


         ASSETS                                              2005           2004

Investments at fair value (Note C)                     $1,993,127     $1,299,483
Participant loans                                           7,521          6,722
Cash                                                           --             --
                                                       ----------     ----------
                                                        2,000,648      1,306,205

Receivables:
  Employer contributions                                       --             --
  Accrued income                                              389          4,335
                                                       ----------     ----------

         Net assets available for benefits             $2,001,037     $1,310,540
                                                       ==========     ==========

The accompanying notes are an integral part of these statements.

                                       4
<PAGE>

                      Wayne Savings 401(k) Retirement Plan

            STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

                      For the year ended December 31, 2005


Additions to net assets attributed to:
  Participant contributions                                         $   585,747
  Employer contributions                                                150,325
  Interest and dividends on investments                                  57,674
  Net depreciation on investment securities (Note C)                    (20,192)
  Realized loss on sale of securities                                    (2,056)
                                                                    -----------
         Total additions                                                771,498

Deductions from net assets attributed to:
  Benefits paid to participants                                          66,688
  Administrative fees                                                    14,313
                                                                    -----------
         Total deductions                                                81,001

Increase  in net assets available for benefits                          690,497

Net assets available for benefits:
  Beginning of year                                                   1,310,540
                                                                    -----------

  End of year                                                       $ 2,001,037
                                                                    ===========


The accompanying notes are an integral part of these statements.


                                       5
<PAGE>

                      Wayne Savings 401(k) Retirement Plan

                          NOTES TO FINANCIAL STATEMENTS

                           December 31, 2005 and 2004


NOTE A - DESCRIPTION OF PLAN

    The  following  description  of the Wayne  Savings  401(k)  Retirement  Plan
    ("Plan") provides only general information. Participants should refer to the
    Plan agreement for a more complete description of the Plan's provisions.

    1.  General
        -------

    The Plan is a defined  contribution  plan  covering  all  employees of Wayne
    Savings  Community Bank (the  "Company") who have one year of service with a
    minimum of 1,000 hours worked and have  attained age 21. It was  established
    for the purpose of providing  retirement and profit sharing  benefits to all
    eligible  employees of the Company.  Effective January 1, 2004, the Plan was
    amended to a "safe harbor" plan with the Plan transferring recordkeeping and
    trustee  responsibilities  to the Huntington National Bank. It is subject to
    the  provisions  of the  Employee  Retirement  Income  Security  Act of 1974
    (ERISA).

    2.  Contributions
        -------------

    Each  year,   participants  may  contribute  up  to  50%  of  pretax  annual
    compensation,  as  defined  in  the  Plan,  subject  to an  overall  $14,000
    limitation in 2005.  Participants may also contribute  amounts  representing
    distributions  from other qualified defined benefit or defined  contribution
    plans.  Participants  direct  the  investment  of their  contributions  into
    various  investment  options offered by the Plan. The Plan currently  offers
    mutual  funds,  common/collective  trust  funds and  stock of Wayne  Savings
    Bancshares, Inc. as investment options for participants. The 401(k) matching
    Company contribution is invested as directed by the participants. Additional
    profit  sharing  amounts may be  contributed  at the option of the Company's
    management and are invested in a portfolio of investments as directed by the
    participants. Contributions are subject to certain limitations.

    The  Company   contributes   on  behalf  of  the   participants  a  matching
    contribution of 100% of the first 4% of base compensation that a participant
    contributes  to the Plan and 50% of the next  2%,  thereby  providing  for a
    match of 5% on the first 6% of an employee's contribution.

    3.  Participant Accounts
        --------------------

    Each participant's  account is credited with the participant's  contribution
    and allocations of (a) the Company's contribution, (b) Plan earnings and (c)
    nonvested  forfeitures.  Allocations are based on each participant's account
    at the end of the year.  The benefit to which a  participant  is entitled is
    the benefit that can be provided from the participant's vested account.

    4.  Payment of Benefits
        -------------------

    Upon  termination  of service  due to death,  disability  or  retirement,  a
    participant may elect to receive a lump-sum amount equal to the value of the
    participant's  vested interest in his or her account.  Any nonvested amounts
    are  forfeited to the Plan and used to offset any future  employer  matching
    contributions.

                                       6
<PAGE>

                      Wayne Savings 401(k) Retirement Plan

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                           December 31, 2005 and 2004


NOTE A - DESCRIPTION OF PLAN (continued)

    5.  Vesting
        -------

    Participants  are  immediately  vested  in their own  contributions  and the
    Company's contributions plus actual earnings thereon.

    6.  Participant Loans
        -----------------

    Participants may borrow up to 50% of their 401(k) contributions. The minimum
    loan amount is $1,000 and the maximum  loan amount is $50,000.  Participants
    may have only two  outstanding  loans at anytime.  The interest  rate is the
    prime rate plus 1% and is determined  when the  participant  applies for the
    loan. Principal and interest are repaid directly to the participants account
    through payroll deduction.

    7.  Forfeitures
        -----------

    For the year ended  December  31,  2005,  there were  $4,711 in  unallocated
    forfeitures arising from prior vesting schedules. Forfeitures may be used by
    the Plan to reduce future employer matching contributions.


NOTE B - SUMMARY OF ACCOUNTING POLICIES

    1.  Basis of Accounting
        -------------------

    The financial  statements of the Plan are prepared  under the accrual method
    of accounting.

    2.  Use of Estimates
        ----------------

    The  preparation  of financial  statements  in  conformity  with  accounting
    principles  generally  accepted  in the United  States of  America  requires
    management  to make  estimates  and  assumptions  that  affect the  reported
    amounts  of net assets  available  for plan  benefits  as of the date of the
    financial  statement  and the  reported  amounts  of  changes  in net assets
    available for plan  benefits  during the reporting  period.  Actual  results
    could differ from those estimates.

    3.  Investment Valuation and Income Recognition
        -------------------------------------------

    The  Plan's  investments  are stated at fair  value  based on quoted  market
    prices.  Shares of mutual  funds are valued at the net asset value of shares
    held by the  Plan  at  year-end.  Participant  loans  are  valued  at  their
    outstanding balances, which approximate fair value.

    Purchases and sales of securities are recorded on the settlement date.

    4.  Payment of Benefits
        -------------------

    Benefits are recorded when paid.

                                       7
<PAGE>

                      Wayne Savings 401(k) Retirement Plan

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                           December 31, 2005 and 2004


NOTE C - INVESTMENTS

    The following  represents  categories of investments  that represent  either
    investments  with  parties-in-interest  or  investments  that  constitute  5
    percent or more of the Plan's net assets at December 31:

<TABLE>
<CAPTION>
                                                                         2005        2004
<S>                                                                  <C>         <C>
    Wayne Unitized Stock Fund *                                      $654,801    $575,888
    Huntington Funds - Equity Dividend Reinvestment Fund *             44,501      21,048
    Huntington Funds - Fixed Dividend Reinvestment Fund *              24,300      19,696
    Federated Capital Preservation Fund - Institutional Shares        105,257          --
    T. Rowe Price High Yield - Advisor                                103,557          --
    American Balanced Fund - Class R-4                                 96,244          --
    Columbia Small Cap Fund - Class A                                  42,646          --
    Managers Special Equity Fund                                       18,849          --
    Dreyfus S&P 500 Index Fund                                        244,004     148,705
    Federated Capital Appreciation Fund - Class A                     143,512     102,402
    Fidelity Advisor Equity Growth Fund - Class T                     313,980     205,182
    Fidelity Advisor Mid-Cap - Class T                                115,910          --
    Franklin Templeton Growth Fund                                     70,481          --

       *  Denotes a party-in-interest
</TABLE>

    During 2005, the Plan's investments depreciated in value by $20,191.

NOTE D - PARTY-IN-INTEREST TRANSACTIONS

    Participants may invest in stock of Wayne Savings Bancshares, Inc., the Plan
    sponsor,   and  mutual  funds  of  The  Huntington   National  Bank.   These
    transactions qualify as party-in-interest transactions.


NOTE E - PLAN TERMINATION

    Although it has not expressed any intent to do so, the Company has the right
    under the Plan to discontinue its contributions at any time and to terminate
    the  Plan  subject  to the  provisions  of  ERISA.  In  the  event  of  Plan
    termination,   participants  will  become  100%  vested  in  their  employer
    contributions.


NOTE F - TAX STATUS

    The Internal  Revenue  Service has determined and informed the Company by an
    opinion letter dated November 19, 2001,  that the prototype plan and related
    trust are designed in accordance  with  applicable  sections of the Internal
    Revenue Code (IRC).  Although  the  prototype  plan has been  amended  since
    receiving the opinion letter,  the Plan  administrator  believes the Plan is
    designed and is currently  being operated in compliance  with the applicable
    requirements of the IRC.

                                       8
<PAGE>

                      Wayne Savings 401(k) Retirement Plan

                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)

                           December 31, 2005 and 2004


NOTE G - RISKS AND UNCERTAINTIES

    The Plan invests in various investment securities. Investment securities are
    exposed to various risks such as interest  rate,  market,  and credit risks.
    Due to the level of risk  associated with  investment  securities,  it is at
    least  reasonably   possible  that  changes  in  the  values  of  investment
    securities  will  occur  in the  near  term  and  that  such  changes  could
    materially affect participants' account balances and the amounts reported in
    the statement of net assets available for benefits.

                                       9
<PAGE>

                      Wayne Savings 401(k) Retirement Plan
                    Form 5500 E.I.N. 34-0606020 Plan No. 003

            Line 4i - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES

                                December 31, 2005

<TABLE>
<CAPTION>

(a)                         (b)                                                 (c)                     (d)
<S>                         <C>                                                 <C>                     <C>

                                                                      Description of investment
                                                                    including maturity date, rate
               Identity of issue, borrower,                         of interest, collateral, par       Current
                  lessor or similar party                                 or maturity value             value

*        Stock                                                                Shares
                                                                              ------
         Wayne Savings Bancshares, Inc.                                         43,079              $  654,801

         Mutual Funds
*        Huntington Money Market Fund IV                                        15,474                  15,474
*        Huntington Dividend Capture Fund IV                                     3,988                  43,312
*        Huntington Income Equity Fund IV                                           38                   1,189
*        Huntington Short & Intermediate Fixed Income
           Fund IV                                                               1,269                  24,300
         Federated Capital Preservation Fund - Institutional Shares             10,526                 105,257
         T. Rowe Price High Yield - Advisor                                     15,008                 103,557
         American Balanced Fund - Class R-4                                      5,407                  96,244
         Columbia Small Cap Fund - Class A                                       2,331                  42,646
         Dreyfus S&P 500 Index Fund                                              6,713                 244,004
         Federated Capital Appreciation Fund - Class A                           5,722                 143,512
         Fidelity Advisor Equity Growth Fund - Class T                           6,530                 313,980
         Fidelity Advisor Mid-Cap Fund - Class T                                 4,776                 115,910
         Managers Special Equity Fund                                              217                  18,849
         Franklin Templeton Growth Fund                                          3,056                  70,481
                                                                                                    ----------
         Total Mutual Funds                                                                          1,338,715

*        Participant Loans                               At an interest rate of  5.25%                   7,521
                                                                                                    ----------

         Total Investments                                                                          $2,001,037
                                                                                                    ==========
</TABLE>

*  Denotes a party-in-interest


                                       10
<PAGE>


                                   SIGNATURES


         The Plan.  Pursuant to the requirements of the Securities  Exchange Act
of 1934,  the  trustees  for the Plan have duly caused this Annual  Report to be
signed by the undersigned hereunto duly authorized.

                                      WAYNE SAVINGS 401(k) RETIREMENT PLAN




June 28, 2006                         By:       /s/H. Stewart Fitz Gibbon III
                                            ------------------------------------
                                                H. Stewart Fitz Gibbon III
                                                Trustee


<PAGE>

                                INDEX TO EXHIBITS


    Number             Description
    ----------------   ---------------------------------------------------------
    23                 Consent of Independent Registered Public Accounting Firm