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.   I am 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.   I have disclosed, based on my 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 11, 2006
         ---------------                          /s/ Robert C. White
                                                  -------------------
                                                  Robert C. White
                                                  Chief Executive Officer
                                                  and Chief Financial Officer


                                       18