Uwharrie Capital Corp Year-End 2024 - Earnings Release

ALBEMARLE, N.C., Feb. 24, 2025 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.13 billion at December 31, 2024, versus $1.07 billion at December 31, 2023. 

Net income for the twelve-month period ended December 31, 2024, was $9.9 million versus $8.6 million for the same period in 2023.  For the twelve months ended December 31, 2024, net income available to common shareholders was $9.3 million, or $1.30 per diluted share, compared to $8.0 million, or $1.09 per diluted share, for December 31, 2023. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

The year-over-year improvement in net income as of December 31, 2024 is, in large part, the result of increased net interest margin earned on a substantially larger loan portfolio.

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