Welcome to our dedicated page for Wake Forest Bancshares news (Ticker: WAKE), a resource for investors and traders seeking the latest updates and insights on Wake Forest Bancshares stock.
Wake Forest Bancshares, Inc. (WAKE) provides comprehensive banking services through its subsidiary, serving North Carolina communities since 1922. This news hub offers investors and stakeholders timely updates on the company's financial operations, strategic initiatives, and regulatory developments.
Access verified information about WAKE's mortgage lending activities, commercial credit offerings, and corporate milestones. Our curated news collection features earnings reports, merger announcements, leadership updates, and product launches – all essential for evaluating this savings & loan institution's market position.
Key updates include developments in residential lending programs, commercial real estate financing, and community banking initiatives. Bookmark this page to monitor WAKE's financial health and industry impact through primary-source information.
Wake Forest Bancshares, Inc. (OTC: WAKE) announced a net income of $486,910 or $0.45 per share for the quarter ending March 31, 2023, a significant increase from $295,562 or $0.28 per share in Q1 2022. For the first half of the fiscal year, earnings reached $963,231 or $0.90 per share, compared to $632,626 or $0.59 per share year-over-year. The company's interest rate margin increased to 4.07%, benefiting from rising short-term interest rates due to Federal Reserve policies. Despite healthy local economic conditions, the impact of higher mortgage rates is pricing some buyers out of the market. The loan portfolio has grown with no reported problem assets or foreclosures. A cash dividend of $0.11 per share was declared, maintaining a 26-year streak of quarterly dividends.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported earnings of $476,321 or $0.45 per share for the quarter ended December 31, 2022, an increase compared to $337,064 or $0.31 per share for the same quarter last year. The company benefitted from a higher interest margin of 4.08%, up from 3.23% a year earlier, driven by rising short-term interest rates due to Federal Reserve policies. Despite healthy economic conditions, rising mortgage rates may impact buyer demand. The loan portfolio remained stable with no reported problem assets, and the company declared a cash dividend of $0.11 per share, continuing a 26-year streak of quarterly dividends.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported fiscal year earnings of $1,395,000 ($1.30 per share) for the year ended September 30, 2022, an increase from $1,235,550 ($1.13 per share) in the previous year. The fourth quarter earnings reached $397,400 ($0.37 per share), up from $325,400 ($0.30 per share) a year prior. The company's interest rate margin improved to 3.27% from 3.06% year-over-year. Additionally, a special cash dividend of $1.00 per share was paid, celebrating its 100th anniversary. Total assets stood at $114,248,550 as of September 30, 2022.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported earnings of $364,958 or $0.34 per share for Q2 2022, up from $322,721 or $0.29 per share year-over-year. For the first nine months, earnings reached $997,584 or $0.93 per share, compared to $910,146 or $0.83 last year. Despite a stable local economy, rising short-term interest rates by the Federal Reserve are impacting earnings. The company maintained a strong loan portfolio with excellent credit quality and paid a special dividend of $1.00 per share to celebrate its 100th anniversary.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported a net income of $295,562 or $0.28 per share for Q1 2022, up from $282,874 or $0.26 per share in Q1 2021. For the first half of 2022, earnings were $632,626 or $0.59 per share compared to $587,425 or $0.54 per share last year. Despite favorable local economic conditions, the company faces challenges from low Federal Reserve interest rates, impacting its interest margin, which fell to 3.01%. The company declared a special cash dividend of $1.00 per share, commemorating its 100th anniversary.
Wake Forest Bancshares, Inc. (OTC: WAKE) announced a special cash dividend of $1.00 per share, payable on April 19, 2022, to shareholders of record as of April 5, 2022. This special dividend celebrates the Company's 100th anniversary as a community bank. With total assets of approximately $112 million and 1,070,046 shares of common stock outstanding, the Company remains committed to its local community and shareholders, having paid dividends for the past twenty-five years.
