Wayne Savings Bancshares Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2011. For the quarter, the company reported net income of $510,000 or $0.18 per diluted share, as compared to $476,000 or $0.16 per diluted share for the quarter ended December 31, 2010. The increase in earnings was primarily due to a decrease in noninterest expenses, which consisted of a reduction in the provision for impairment on foreclosed assets held for sale, reduced provision for federal income taxes and an increase in net interest income and other income. Net interest income was $3,162,000 compared with $3,133,000 a year ago. Return on average assets was 0.50% compared with 0.46% a year ago. Return on average equity was 5.15% compared with 4.93% a year ago. Income before federal income taxes was $592,000 compared with $589,000 a year ago. For the nine months, the company's net income was $1,334,000 or $0.46 per diluted share, compared to net income of $1,793,000 or $0.61 per diluted share for the nine month period ended December 31, 2010. The decrease in earnings was primarily due to an increase in both provision for loan losses and provision for impairment on foreclosed assets held for sale, which was partially offset by reduced provision for federal income taxes. The return on average equity and return on average assets for the period were 4.49% and 0.43%, respectively, compared to 6.25% and 0.58%, respectively, for the nine month period ended December 31, 2010. Net interest income was $9,629,000 compared with $9,639,000 a year ago. As on December 31, 2011, the company's book value per share was $13.22. Income before federal income taxes was $1,568,000 compared with $2,309,000 a year ago.