Wayne Savings Bancshares, Inc. and Wayne Savings Community Bank Announces Executive and Management Changes
December 20, 2016 at 08:31 am
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H. Stewart Fitz Gibbon, President and Chief Executive Officer of Wayne Savings Bancshares, Inc. and its subsidiary, Wayne Savings Community Bank (the Bank), resigned from both positions, effective December 20, 2016. The board appointed Director David L. Lehman to serve as Interim President and Chief Executive Officer of the company and the Bank until a successor is appointed. Mr. Fitz Gibbon also resigned from the Boards of Directors of the company and the Bank, effective December 20, 2016.
Following Mr. Fitz Gibbon's resignation, the company's Board of Directors reduced the size of the Board from seven to six directors. Mr. Lehman, has served as a Director of the company and the Bank since 2012. Mr. Lehman was president of Mennonite Mutual Insurance Company, Orrville, Ohio, from 1990 through his retirement in February 2016 and was employed by that company since 1978.
Mr. Lehman has over 30 years of experience in the financial services industry and over 25 years leading a growing insurance company, and has been extensively involved in community and leadership development activities in the Company's market area.
Wayne Savings Bancshares, Inc. operates as the holding company for Wayne Savings Community Bank (the Bank) that provides personal and business banking products and services to individuals, businesses, and other organizations. The Company offers checking, savings, money market, and term certificate accounts, as well as certificates of deposit. It also provides residential mortgage, commercial, installment, residential and nonresidential real estate, commercial real estate, residential construction, multi-family real estate, land, commercial business, consumer, home, home equity, auto, recreational vehicle, personal, furniture and appliance, agriculture, and term loans, as well as lines of credit, government guaranteed programs, and standby letters of credit. In addition, the Bank offers financial planning, retirement planning, investment advisory, insurance, and wealth management and trust services. It operates in approximately 13 banking locations.