EXHIBIT 31



               STATEMENT FURNISHED PURSUANT TO SECTION 302 OF THE
               SARBANES-OXLEY ACT OF 2002, 18 U.S.C. SECTION 1350

I, Robert C. White, certify that:

          1. I have reviewed this quarterly report on Form 10-QSB of Wake Forest
             Bancshares, Inc.;

          2. Based on my knowledge, this report does not contain any untrue
             statement of a material fact or omit to state a material fact
             necessary to make the statements made, in light of the
             circumstances under which such statements were made, not misleading
             with respect to the period covered by this report;

          3. Based on my knowledge, the financial statements, and other
             financial information included in this report, fairly present in
             all material respects the financial condition, results of
             operations and cash flows of the issuer as of, and for, the periods
             presented in this report;

          4. The issuer's other certifying officers and I are responsible for
             establishing and maintaining disclosure controls and procedures (as
             defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the
             issuer and have:

             a. Designed such disclosure controls and procedures, or caused such
                disclosure controls and procedures to be designed under our
                supervision, to ensure that material information relating to the
                issuer, including its consolidated subsidiaries, is made known
                to us by others within those entities, particularly during the
                period in which this report is being prepared;

             b. Evaluated the effectiveness of the issuer's disclosure controls
                and procedures and presented in this report our conclusions
                about the effectiveness of the disclosure controls and
                procedures as of the end of the period covered by this report
                based on such evaluation; and

             c. Disclosed in this report any change in the issuer's internal
                control over financial reporting that occurred during the
                issuer's most recent fiscal quarter that has materially
                affected, or is reasonably likely to materially affect, the
                issuer's internal control over financial reporting; and

          5. The registrant's other certifying officers and I have disclosed,
             based on our most recent evaluation of internal control over
             financial reporting, to the issuer's auditors and the audit
             committee of issuer's board of directors (or persons performing the
             equivalent function):

             a. All significant deficiencies and material weaknesses in the
                design or operation of internal controls over financial
                reporting which are reasonably likely to adversely affect the
                issuer's ability to record, process, summarize and report
                financial information; and

             b. Any fraud, whether or not material, that involves management or
                other employees who have a significant role in the issuer's
                internal controls over financial reporting.

          Date: August 12, 2003

                                                     /s/ Robert C. White
                                                     ---------------------------
                                                     Robert C. White
                                                     Chief Executive Officer
                                                     and Chief Financial Officer


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