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Uwharrie Capital Corp (OTCQX: UWHR) is an established financial institution providing a comprehensive range of financial solutions through its subsidiaries, Uwharrie Bank and Uwharrie Investment Advisors. Headquartered in Albemarle, North Carolina, the company is dedicated to empowering individuals and businesses with the financial tools and knowledge they need to achieve their goals. As a member of the FDIC and an equal housing lender, Uwharrie Capital Corp emphasizes authentic relationships and community enhancement.
As of December 31, 2023, Uwharrie Capital Corp reported consolidated total assets of $1.07 billion, reflecting steady growth from $1.02 billion at the end of 2022. The company experienced a significant rise in loans held for investment, amounting to $36 million, or a 7.3% increase, during the first six months of 2023. This growth demonstrates the firm's robust financial health and strong liquidity position.
For the twelve months ended December 31, 2023, Uwharrie Capital Corp reported a net income of $8.6 million, an increase from $8.2 million in 2022. Net income available to common shareholders for this period was $8.0 million, or $1.12 per diluted share. This financial success is attributed to improved net interest margins and prudent risk management practices.
Uwharrie Capital Corp is committed to community development and personal relationships. The firm’s dedication to understanding and meeting customer needs has enhanced economic vitality in the communities it serves. The company continues to focus on core earnings growth and maintaining a well-capitalized balance sheet.
Recent news highlights include the announcement of a significant loan growth and a 2% stock dividend to be paid to common stock shareholders on November 21, 2023. Shareholders of record as of November 7, 2023, will receive the dividend electronically through book-entry, further demonstrating the company's commitment to shareholder value.
For more information about Uwharrie Capital Corp, visit their official website at www.uwharrie.com or call 704-982-4415.
Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.18 billion as of September 30, 2024, up from $1.07 billion at the end of 2023. The company's net income for the first nine months of 2024 was $7.6 million, compared to $6.3 million in the same period of 2023. Net income available to common shareholders for the nine-month period was $7.2 million, or $1.00 per share, an increase from $5.9 million, or $0.80 per share, in 2023.
For the third quarter of 2024, net income was $3.0 million, with $2.9 million available to common shareholders, or $0.40 per share. The Board of Directors has declared a 2% stock dividend to be paid on November 18, 2024, to shareholders of record as of October 28, 2024.
Uwharrie Capital Corp (OTCQX: UWHR) reported strong financial results for Q2 2024. The company's consolidated total assets reached $1.12 billion on June 30, 2024, up from $1.07 billion at the end of 2023. Net income for the first half of 2024 increased to $4.6 million, compared to $4.2 million in the same period of 2023. Net income available to common shareholders rose to $4.3 million, or $0.61 per share, up from $3.9 million, or $0.54 per share, year-over-year. For Q2 2024, net income remained stable at $2.2 million, with $2.1 million available to common shareholders, translating to $0.29 per share.
Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.10 billion at March 31, 2024, showing growth in loans and core deposits. Net income for the first quarter of 2024 was $2.4 million, an improvement over the same period in 2023. Net income available to common shareholders was $2.2 million, or $0.31 per share, compared to $1.8 million, or $0.25 per share, in March 31, 2023. The growth in net income was attributed to an improvement in net interest margin and reduced credit loss reserves.
Uwharrie Capital Corp (OTCQX: UWHR) reported a consolidated total asset growth, reaching $1.02 billion as of December 31, 2022, compared to $939.7 million in 2021. However, the net income decreased to $8.2 million from $10.1 million in 2021. Earnings per diluted share fell to $1.08, down from $1.29 the previous year. The primary reason for the earnings decline was a significant reduction in income from mortgage banking, driven by rising interest rates, which caused a slowdown in mortgage originations and limited refinancing opportunities for homeowners.
Uwharrie Capital Corp (OTCQX: UWHR) reported its financial results for the third quarter of 2022. Consolidated total assets increased to $1.04 billion as of September 30, 2022, up from $939.7 million at the end of 2021. However, net income for the nine-month period decreased to $5.3 million compared to $8.9 million in 2021, with earnings per share dropping from $1.14 to $0.69. Net income for the third quarter rose slightly to $2.8 million, up from $2.7 million in 2021. A 2.5% stock dividend is set for payment on November 22, 2022.
Uwharrie Capital Corp (UWHR) reported a significant increase in consolidated total assets, reaching $991.0 million as of June 30, 2022, up from $845.3 million in 2021. However, net income for the six months ended June 30, 2022, declined to $2.5 million compared to $6.2 million in 2021, with earnings per share falling from $0.82 to $0.32. The company attributed the drop to non-recurring earnings in 2021, including one-time gains and the impact of a historical refinancing boom.
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