Uwharrie Capital Corp Year-End 2023 - Earnings Release

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Uwharrie Capital Corp (UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.07 billion at December 31, 2023, with a net income of $8.6 million for the same period. Net income available to common shareholders was $8.0 million, or $1.12 per diluted share, reflecting a positive financial performance compared to the previous year.

ALBEMARLE, N.C., Feb. 21, 2024 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.07 billion at December 31, 2023, versus $1.02 billion at December 31, 2022. 

Net income for the twelve-month period ended December 31, 2023, was $8.6 million versus $8.2 million for the same period in 2022.  For the twelve months ended December 31, 2023, net income available to common shareholders was $8.0 million, or $1.12 per diluted share, compared to $7.7 million, or $1.06 per diluted share, for December 31, 2022. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

Roger L. Dick, President and CEO of the Company said: "Our 2023 year-end financials are the result of continued relationship development throughout our communities. As we move into 2024, we remain focused on growth of core earnings to support our well-capitalized balance sheet, and a strong liquidity position with prudent risk management of all aspects of our Company."

About Uwharrie Capital Corp
Uwharrie Capital Corp offers a full range of financial solutions through its subsidiaries:  Uwharrie Bank and Uwharrie Investment Advisors.  Additional information on Uwharrie Capital Corp may be found at www.Uwharrie.com or by calling 704-982-4415.

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SOURCE Uwharrie Capital Corp

FAQ

What were Uwharrie Capital Corp's total assets at the end of 2023?

Uwharrie Capital Corp reported consolidated total assets of $1.07 billion at December 31, 2023.

What was the net income for Uwharrie Capital Corp in 2023?

Net income for the twelve-month period ended December 31, 2023, was $8.6 million.

What was the net income available to common shareholders in 2023?

Net income available to common shareholders was $8.0 million, or $1.12 per diluted share, for the twelve months ended December 31, 2023.

Who is the President and CEO of Uwharrie Capital Corp?

Roger L. Dick is the President and CEO of Uwharrie Capital Corp.

What is the ticker symbol for Uwharrie Capital Corp?

The ticker symbol for Uwharrie Capital Corp is UWHR.