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Uwharrie Capital Corp (UWHR) delivers community-focused banking and investment services through its subsidiaries Uwharrie Bank and Uwharrie Investment Advisors. This news hub provides stakeholders with centralized access to official corporate communications and financial updates.
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Uwharrie Capital Corp (OTCQX: UWHR) reported strong financial results for the year ended December 31, 2024. The company's consolidated total assets reached $1.13 billion, up from $1.07 billion in 2023. Net income increased to $9.9 million in 2024, compared to $8.6 million in 2023.
Net income available to common shareholders rose to $9.3 million, or $1.30 per diluted share, from $8.0 million, or $1.09 per diluted share in 2023. The improved performance was primarily attributed to increased net interest margin from a larger loan portfolio.
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.
