UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934.
Date of Report: April 14, 1998
WAYNE BANCORP, INC.
(Exact name of registrant as specified in its charter)
112 West Liberty Street
Wooster, Ohio 446 Zip C 44691
(Address of principal executive offices)
Commission file No014612
IRS Employer ID No34-1516142
Telephone No. (330) 264-1222
ITEM 5. OTHER EVENTS
The merger of Chippewa Valley Bancshares into Wayne Bancorp, Inc was
completed on March 31, 1998. With this merger, the Chippewa Valley Bank
became an independent affiliate of Wayne Bancorp, Inc. With this
merger, Wayne Bancorp is now a multi-bank holding company with
assets in excess of $500 million.
The agreement was signed by David L. Christopher, Chairman, President
and CEO of Wayne Bancorp, Inc. and Philip S. Swope, Chairman, President
and CEO of Chippewa Valley Bancshares.
Effective with the merger, Philip S. Swope became the President of
Wayne Bancorp, Inc. In addition, David P. Boyle, Executive Vice President
and Chief Financial Officer of the Wayne County National Bank became
the Treasurer of Wayne Bancorp, Inc.
In the merger, Wayne Bancorp, Inc. will issue 981,837 shares of stock to
Chippewa Valley Bancshares shareholders. The exchange ratio is 2.1916
shares of Wayne for each share of Chippewa. The final closing price was
$40.96, making each share of Chippewa worth $89.77.
Questions related to this should be directed to David P. Boyle, Treasurer
Wayne Bancorp, Inc. at the above telephone number.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
April 14, 1998 /s/ David L. Christopher
David L. Christopher
Chairman and CEO
