EXHIBIT 31.1

I, Robert C. White certify that:

  1.    I have reviewed this annual report on Form 10-KSB 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 registrant 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 small business 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
            small business issuer, including its consolidated subsidiaries, is
            made known to me by others within those entities, particularly
            during the period in which this report is being prepared;

        (b) Evaluated the effectiveness of the small business issuer's
            disclosure controls and procedures and presented in this report my
            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 small business issuer's
            internal control over financial reporting that occurred during the
            registrant's most recent fiscal quarter (the small business
            issuer's fourth quarter in the case of an annual report) 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 small business issuer's auditors and the
        audit committee of the registrant's board of directors (or persons
        performing the equivalent functions):

        (a) All significant deficiencies and material weaknesses in the design
            or operation of internal control over financial reporting which
            are reasonably likely to adversely affect the small business
            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 small business
            issuer's internal control over financial reporting.


Date:  December 22, 2003             /s/ Robert C. White
                                     -------------------
                                     Robert C. White
                                     President and Chief Executive Officer and
                                     Principal Executive and Accounting Officer