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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): November 05, 2008</B>

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<P align="center" style="font-size: 24pt"><B>Wake Forest Bancshares, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>United States</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>000-25999</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>56-2131079</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>302 South Brooks Street, Wake Forest, North Carolina<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>27587</B></TD>
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<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>919-556-5146</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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    <TD width="3%" nowrap align="left"><B>Item&nbsp;2.02</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Results of Operations and Financial Condition</B></TD>
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<P align="left" style="margin-left:5%; font-size: 10pt">On November&nbsp;05, 2008, Wake Forest Bancshares, Inc. announced earnings for its year ended September&nbsp;30, 2008.
A copy of the press release dated November&nbsp;05, 2008, describing its quarter earnings is attached as Exhibit
99.1.


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    <TD width="3%" nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
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    <TD width="3%" nowrap align="left">(c)</TD>
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    <TD>The following exhibit is furnished with this Report:</TD>
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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><br>99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><br>Press release issued by Wake Forest Bancshares, Inc. on November
05, 2008.</TD>
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<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.



<P align="left" style="margin-left:46%; font-size: 10pt"><B>WAKE FOREST BANCSHARES, INC.</B>



<P align="left" style="margin-left:46%; font-size: 10pt">By: <U>s/s&nbsp;Robert C. White </U><BR>
Name: Robert C. White<BR>
Title: President, Chief Executive Officer<BR> and Chief Financial Officer<BR>


<P align="left" style="font-size: 10pt">Date: November&nbsp;05, 2008

<P align="center" style="font-size: 10pt">&nbsp;

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated November&nbsp;05, 2008.</TD>
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<P align="center" style="font-size: 10pt; display: none">4
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 05, 2008
Wake Forest Bancshares, Inc.
(Exact name of registrant as specified in its charter)
United States
000-25999
56-2131079
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
302 South Brooks Street, Wake Forest, North Carolina
27587
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
919-556-5146
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02
Results of Operations and Financial Condition
On November 05, 2008, Wake Forest Bancshares, Inc. announced earnings for its year ended September 30, 2008.
A copy of the press release dated November 05, 2008, describing its quarter earnings is attached as Exhibit
99.1.
Item 9.01
Financial Statements and Exhibits
(c)
The following exhibit is furnished with this Report:
Exhibit No.
Description
99.1
Press release issued by Wake Forest Bancshares, Inc. on November
05, 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
WAKE FOREST BANCSHARES, INC.
By:
s/s Robert C. White
Name: Robert C. White
Title: President, Chief Executive Officer
and Chief Financial Officer
Date: November 05, 2008
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release dated November 05, 2008.