Wayne Savings And Main Street Financial Complete Merger

Main Street Financial Services Corp. closed its merger with Wayne Savings Bancshares at the end of May, the company announced.

Both community banks, each based in Wooster, Ohio, plan to operate under the new name, Main Street Bank, once they complete merging systems and services later this year, company officials said.

"This is an exciting day for us as we combine two community banks with a commitment to bring lasting value to the customers we proudly serve,” said Mark Witmer, executive chairman of the newly-minted Main Street Bank. “We are grateful for the support of our shareholders throughout this transaction and are excited for the combined talent and resources at our organizations as we look to the future."

Customers can continue to conduct business through their respective Wayne Savings and Main Street branches and websites, until further notice.

At the effective time of the merger on May 31, 2024, each share of Wayne common stock was converted in the right to receive 1.7446 Main Street common shares, with Wayne stockholders receiving cash in lieu of fractional shares.