| Business Summary | | Wake
Forest
Bancshares,
Inc.
is
a
federally
chartered
stock
holding
company
for
Wake
Forest
Federal
Savings
&
Loan
Association,
a
federally
chartered
stock
savings
and
loan
association
that
conducts
business
from
its
one
office
located
in
Wake
Forest,
North
Carolina.
The
Association
is
primarily
engaged
in
the
business
of
attracting
retail
deposits
from
the
general
public
in
the
Association's
marketing
area,
and
investing
those
deposits,
together
with
other
sources
of
funds,
primarily
in
loans
secured
by
one-
to
four-family
residential
real
estate
for
retention
in
its
loan
portfolio.
The
Company
is
a
majority-owned
subsidiary
of
Wake
Forest
Bancorp,
M.H.C.,
a
federal
mutual
holding
company. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Wake
Forest
Bancshares,
is
a
bank
holding
company
for
Wake
Forest
Federal
S&L
Assoc.
which
provides
financing
for
single
family
housing
in
northern
Wake
County
and
southern
Franklin
and
Granville
Counties.
For
the
nine
months
ended
6/01,
interest
income
rose
17%
to
$5.8
million.
Net
interest
income
after
loan
loss
prov.
fell
2%
to
$2.5
million.
Net
income
fell
6%
to
$931
thousand.
Net
interest
income
reflects
asset
growth,
offset
by
lower
margins.
Earnings
also
reflect
staff
additions. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Howard Brown, 73 Chairman | -- | Anna Sumerlin, 54 Pres,
CEO, Director | $191K | R. Wilkinson, III, 72 Vice
Chairman | -- | Carlton Chappell, 69 VP,
Sec., Treasurer | 120K | Robert White, 44 VP | -- | Dollar
amounts are as of 30-Sep-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|