Wake Forest Bancshares, Inc.

WAKE · OTC
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6/30/2008
3/31/2008
12/31/2007
9/30/2007
Revenue$749$799$929$1,024
% Growth-6.2%-14.1%-9.2%
Cost of Goods Sold$0$0$0$0
Gross Profit$749$799$929$1,024
% Margin100%100%100%100%
R&D Expenses$0$0$0$0
G&A Expenses$202$190$190$161
SG&A Expenses$202$190$190$161
Sales & Mktg Exp.$0$0$0$0
Other Operating Expenses-$576-$549-$550-$549
Operating Expenses-$375-$359-$361-$388
Operating Income$375$440$569$636
% Margin50%55%61.2%62.1%
Other Income/Exp. Net$0$0$0$0
Pre-Tax Income$375$440$569$636
Tax Expense$140$157$203$224
Net Income$235$283$366$412
% Margin31.4%35.4%39.4%40.2%
EPS0.20.240.320.36
% Growth-16.7%-25%-11.1%
EPS Diluted0.20.240.320.36
Weighted Avg Shares Out1,1581,1781,1431,153
Weighted Avg Shares Out Dil1,1581,1781,1431,153
Supplemental Information
Interest Income$1,515$1,641$1,851$1,932
Interest Expense$800$873$950$945
Depreciation & Amortization$12$12$11$4
EBITDA$0$0$0$0
% Margin0%0%0%0%