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Wake Forest Bancshares CEO nominated to board

Wake Forest Bancshares Inc. (MHC)'s board has nominated President and CEO Renee Shaw for election as a director at the annual meeting of shareholders Feb. 20.

Earl Shoaf, who turned 70 in October 2017, is no longer eligible for re-election to the Wake Forest, N.C.-based bank's board due to age restrictions for board service.

Shoaf, whose term as a director expires in 2018, is owner and president of National Transformer Sales Inc.