WAYNE SAVINGS BANCSHARES, INC (NASDAQ:WAYN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On July 27, 2017, Wayne Savings Bancshares, Inc. (the “Company”) entered into indemnification agreements (each, an “Indemnification Agreement”), on behalf of itself and the Company’s principal banking subsidiary, Wayne Savings Community Bank (the “Bank”), with each of the Company’s six directors, one of whom, David L. Lehman, is also the Company’s President and Chief Executive Officer (each, an “Indemnitee”). The Indemnification Agreements provide the Indemnitees with, among other things, indemnification against liabilities relating to their respective services as directors of the Company and the advancement of expenses under certain circumstances. The foregoing summary of the Indemnification Agreements does not purport to be complete and is qualified in its entirety by reference to the form of the Company’s Indemnification Agreement, which is filed as Exhibit 10.6 to this Current Report on Form 8-K and incorporated herein by reference.
| Exhibit Number | Description |
| 10.6 | Indemnification Agreement with directors (filed herewith). |
WAYNE SAVINGS BANCSHARES INC /DE/ ExhibitEX-10.6 2 ex10-6.htm EX-10.6 Exhibit 10.6 INDEMNIFICATION AGREEMENT This INDEMNIFICATION AGREEMENT (the “Agreement”),…To view the full exhibit click here
About WAYNE SAVINGS BANCSHARES, INC (NASDAQ:WAYN)
Wayne Savings Bancshares, Inc. is the unitary thrift holding company for Wayne Savings Community Bank (the Bank). The Bank is a community-oriented institution, which offers a range of consumer and business financial services. The Bank’s primary lending and deposit gathering area includes Wayne, Holmes, Ashland, Medina and Stark counties, where it operates over 10 offices. The Bank’s principal business activities consist of originating one- to four-family residential real estate loans, multi-family residential, commercial and non-residential real estate loans. The Bank also originates non-real estate, secured commercial loans, consumer loans and construction loans. The Bank also invests in mortgage-backed securities, obligations issued by state and political subdivisions, and a small position of private-label collateralized mortgage obligations and other liquid investments, such as United States Government securities, federal funds, and deposits in other financial institutions.
