Wake Forest Bancshares Inc. reported earnings results for the first quarter ended December 31, 2012. For the quarter, the company reported earnings of $177,850 or $0.15 per share. The current quarter's results compare favorably to last year when the company reported earnings of $151,047 or $0.13 per share for its quarter ended December 31, 2011.

Wake Forest Bancshares Inc. reported earnings results for the fourth quarter and year ended September 30, 2012. For the fourth quarter, earnings were $198,150 or $0.17 per share versus $106,450 or $0.09 per share for the quarter ended September 30, 2011 last year. The company's earnings continue to be impacted by compressed interest rate margins although the company has shown improvement in its level of non-performing assets. The company reported earnings of $597,400 or $0.52 per share for its fiscal year ended September 30, 2012. This year's results compare favorably to last year when the company reported earnings of $505,950 or $0.44 per share. Earnings for the year continue to be impacted by loss provisions, charge-offs and expenses associated with non-performing loans and foreclosed assets. The company provided $367,500 during the current year in loan loss provisions and write downs to the value of its foreclosed properties.

Wake Forest Bancshares Inc.’s common stock has been deleted from OTC Bulletin Board effective July 23, 2012 on account of its ineligibility for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.