Wayne Savings Bancshares Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. The company reported net income of $479,000 or $0.17 per diluted share for the quarter ended December 31, 2013, compared to $481,000 or $0.17 per diluted share for the quarter ended December 31, 2012. The return on average equity and return on average assets for the 2013 quarter were 4.97% and 0.47%, respectively, compared to 4.75% and 0.48%, respectively, for the 2012 quarter. Net interest income was $3,133,000 for the quarter ended December 31, 2013, compared to $3,024,000 for the quarter ended December 31, 2012. Interest income increased $58,000 during the 2013 quarter mainly due to a $4.0 million increase in average interest earning assets, and an increase in the rates earned on those assets from 3.86% in the prior year quarter to 3.88% in the current year quarter. Income before federal income taxes was $550,000 against $600,000 a year ago.

For the twelve months ended December 31, 2013, net income totaled $2.1 million, or $0.72 per diluted share, compared to net income of $1.7 million, or $0.59 per diluted share, for the twelve months ended December 31, 2012. The increase in net income was primarily due to decreases in both the provision for loan losses and noninterest expense, partially offset by decreases in net interest income and noninterest income, and an increase in provision for federal income taxes. The return on average equity and return on average assets for the twelve months ended December 31, 2013 were 5.24% and 0.51%, respectively, compared to 4.28% and 0.43%, respectively, for the twelve months ended December 31, 2012. Net interest income was $12,076,000 for the twelve months ended December 31, 2013 compared to $12,505,000 for the twelve months ended December 31, 2012. Interest income decreased $906,000 during the 2013 period mainly due to a continuation of the overall low market interest rate environment, partially offset by a shift in the company's mix of earning assets from lower yielding securities into higher yielding loans. Income before federal income taxes was $2,689,000 against $2,100,000 a year ago.