EXHIBIT 99



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

FOR IMMEDIATE RELEASE

CONTACTS:
Charles F. Finn                                      James C. Stebbins
President and Chief Executive Officer                President
Wayne Savings Bancshares, Inc.                       Stebbins Bancshares, Inc.
TEL: (330) 264-5767                                  TEL: (330) 435-6371

WAYNE SAVINGS BANCSHARES, INC. TO ACQUIRE STEBBINS BANCSHARES, INC. IN $5.2
MILLION ALL-CASH ACQUISITION

      Wooster and Creston, Ohio. October 31, 2003. Wayne Savings Bancshares,
Inc. (Nasdaq NMS:WAYN) ("Wayne Savings Bancshares"), the holding company for
Wayne Savings Community Bank, announced today that it has entered into a
definitive agreement to acquire Stebbins Bancshares, Inc. and its national bank
subsidiary, Stebbins National Bank of Creston, Ohio (collectively "Stebbins"),
in an all-cash merger valued at $5.2 million. The Board of Directors of each
company has approved the transaction and due diligence has been completed.

      Charles F. Finn, President and Chief Executive Officer of Wayne Savings
Bancshares and Wayne Savings Community Bank, stated, "We are very pleased to
announce the acquisition of Stebbins National Bank and the expansion of the
Wayne Savings franchise in the Creston, Ohio market area." Stebbins National
Bank's office will be operated as a branch office of Wayne Savings Community
Bank. Upon completion of the transaction, Wayne Savings Bancshares will have
approximately $397 million in total consolidated assets and will operate a total
of eleven branch offices in Wayne, Holmes, Ashland, Medina and Stark Counties,
Ohio.

      James C. Stebbins, President of Stebbins National Bank, stated, "We look
forward to becoming a part of the Wayne Savings organization. The customers of
Stebbins National Bank will benefit from this new relationship with a bank that
shares our commitment to community banking."

      Mr. Stebbins will enter into a consulting agreement with Wayne Savings
Community Bank to ensure a smooth transition for Stebbins National Bank
customers following the transaction. Further, the Board of Directors of Stebbins
National Bank will form an advisory board at Wayne Savings Community Bank to aid
in the transition. "Customers of Stebbins National Bank should anticipate no
change in the type and style of community banking services they have become
accustomed to, and should benefit from an expanded menu of banking services,"
said Mr. Stebbins.


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      The transaction is expected to be immediately accretive to Wayne Savings
Bancshares' earnings per share. The deal price represents 156.4% of Stebbins'
book value at September 30, 2003.

      The transaction, which is expected to be completed in the second calendar
quarter of 2004, is subject to approval by applicable regulatory authorities and
to approval by the stockholders of Stebbins Bancshares.

      Wayne Savings Bancshares is the holding company for Wayne Savings
Community Bank, an Ohio savings and loan association. Wayne Savings Community
Bank is headquartered in Wooster, Ohio, and operates ten full-service banking
offices in northeast Ohio. At September 30, 2003, Wayne Savings Bancshares had
total consolidated assets of $372.5 million, total deposits of $295.6 million
and stockholders' equity of $43.9 million.

      Stebbins National Bank, founded in 1881, operates one full-service banking
office in Creston, Ohio. At September 30, 2003, Stebbins had total assets of
$27.6 million, total deposits of $24.4 million and stockholders' equity of $3.3
million.

      This news release contains certain forward-looking statements. These
statements include statements regarding the anticipated closing date of the
transaction and anticipated future results. Forward-looking statements can be
identified by the fact that they include words like "believe," "expect,"
"anticipate," "estimate," and "intend" or future or conditional verbs such as
"will," "would," "should," "could," or "may." Certain factors that could cause
actual results to differ materially from expected include delays in completing
the merger, difficulties in achieving cost savings from the merger or in
achieving such cost savings within the expected time frame, difficulties in
integrating Wayne Savings Community Bank and Stebbins National Bank, increased
competitive pressures, changes in the interest rate environment, changes in
general economic conditions, legislative and regulatory changes that adversely
affect the businesses in which Wayne Savings Community Bank and Stebbins
National Bank are engaged, and other factors.

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