WAKE FOREST, N.C., March 22, 2022 (GLOBE NEWSWIRE) -- Wake Forest Bancshares, Inc., (OTC: WAKE) parent company of Wake Forest Federal, announced today that the Company’s Board of Directors declared a SPECIAL cash dividend of $1.00 per share payable on April 19, 2022 to stockholders of record as of April 05, 2022. The Company has paid quarterly dividends consecutively to its shareholders for the past twenty five years but its Board chose to pay this special dividend in celebration of its 100th year as an independent community bank.
In making the announcement, Renee Shaw, President and Chief Executive Officer, reported that the Company is pleased to be able to reward our stockholders in this manner. It’s a big year for Wake Forest Federal as we celebrate our 100th anniversary. Since first opening our doors in 1922, we’ve seen a lot of changes. Our products and services have evolved from account records on ledger cards to online and mobile banking. While many things have changed over the past 100 years, the one constant has been our commitment to our customers, our shareholders, and our community. We have and will continue to be a bank of local people making local decisions for the betterment of Wake Forest and its surrounding towns and neighborhoods. We love our community and are grateful that we have the support of shareholders and customers who still believe a local bank can provide a more intimate banking experience. The payment of this onetime special dividend of $1.00 per share this quarter is a way of saying “thank you” for believing in us and sharing in our success.
Wake Forest Bancshares, Inc., with total assets of approximately $112 million, has 1,070,046 shares of common stock outstanding. Based in Wake Forest, North Carolina since 1922, Wake Forest Bancshares, Inc. conducts its business through Wake Forest Federal from its office in Wake Forest, (Wake County), North Carolina. Deposits of the Association are insured up to the applicable limits by the FDIC.
Contact: Renee Shaw
Chief Executive Officer
919-556-5146
