Uwharrie Capital reports increase in total assets

Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.10 billion at March 31, 2024, versus $1.07 billion at December 31, 2023.

During the first quarter of 2024, the bank experienced growth in both loans and core deposits.

Net income for the three-month period ended March 31, 2024 was $2.4 million versus $2 million for the same period in 2023. For the three months ended March 31, 2024, 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, for March 31, 2023.

Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the company.

Contact Heather Almond, chief financial officer, at 704-983-6181 for further information.