Uwharrie reports increased assets
Published 1:43 pm Thursday, October 29, 2020
Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $792 million on Sept. 30, 2020, versus $657 million at Dec. 31, 2019.
Net income for the nine-month period ended Sept. 30, 2020, was $3.5 million versus $2.6 million for the same period in 2019. For the nine months ended Sept. 30, 2020, net income available to common shareholders was $3.1 million or $0.43 per share compared to $2.2 million or $0.30 per share for Sept. 30, 2019. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the company.
Net income for the three-month period ended Sept. 30, 2020, was $1.6 million versus $968,000 for the same period in 2019. For the three months ended Sept. 30, 2020, net income available to common shareholders was $1.4 million or $0.20 per share compared to $826,000 or $0.11 per share for the same quarter in 2019, an increase of 80 percent.
Additionally, the Board of Directors has declared a 2 percent stock dividend to be paid to common stock shareholders on Nov. 23, 2020.
Shareholders of Uwharrie Capital Corp, as of the record date Nov. 9, 2020, will receive the dividend, which will be paid electronically via book-entry. No stock certificates will be issued. Shareholders will receive a statement indicating the new shares gained. If the stock is held in a brokerage account, shares will be electronically delivered directly to the appropriate account. Only whole shares of stock will be issued. If applicable, a check for payment of a fractional share may also be issued or deposited electronically.
Contact Chief Financial Officer David Beaver at 704-991-1266 for further information.