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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Wake Forest Bancshares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Wake Forest Bancshares's position in the market.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported earnings of $337,064 or $0.31 per share for the quarter ending December 31, 2021, up from $304,551 or $0.28 per share a year earlier. CEO Renee H. Shaw noted that earnings benefited from improving economic conditions and stable Federal Reserve policies. Despite a decrease in the loan portfolio, the company remains in a strong position with no reported problem assets. Total assets reached $108 million, with a tier 1 capital leverage ratio of 24.69%. Wake Forest Bancshares is celebrating 100 years in business.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported a fiscal year 2021 earnings of $1,235,550, or $1.13 per share, up from $1,170,850, or $1.06 per share in 2020. The current quarter's earnings were $325,400, or $0.30 per share, compared to $268,550, or $0.24 per share a year earlier. The company credits its performance to a recovering economy post-COVID-19, despite a decline in interest margin to 3.06%. Total assets stood at $110,479,350 with strong local real estate demand and robust loan performance, having no reportable problem assets or charge-offs this year.
Wake Forest Bancshares, Inc. (OTC: WAKE) reported quarterly earnings of $322,721 ($0.29 per share) for Q2 2021, an increase from $254,566 ($0.23 per share) in Q2 2020. Year-to-date earnings reached $910,146 ($0.83 per share), slightly above $902,313 ($0.82 per share) last year. Despite robust local residential home sales and stable lending performance, earnings were negatively impacted by the Federal Reserve's low-interest rate policy, resulting in an interest margin of 3.11%, lower than previous years. The company maintains a strong loan loss allowance of 2.10%.
Wake Forest Bancshares reported earnings of $282,874 or $0.26 per share for Q1 2021, a decline from $297,069 or $0.27 per share in the same quarter last year. For the first half of the fiscal year, earnings totaled $587,425 or $0.54 per share, down from $647,747 or $0.59 per share. The company's interest rate margin fell to 3.05% due to Fed rate cuts. Despite these challenges, local economic conditions remain stable, and no significant effects from the pandemic on the housing market or credit quality were reported. Total assets reached $110.56 million as of March 31, 2021.