Wake Forest Bancshares Inc. announced earnings results for the first quarter ended December 31, 2014. For the quarter, the company reported earnings of $233,419 or $0.20 per share compared favorably to the same quarter last year when the company reported earnings of $198,077 or $0.17 per share. The current quarter's results which were positively impacted by declining levels of nonperforming assets and thus reduced loan loss provisions and costs associated with foreclosed assets.