UWHR - Uwharrie Capital Corp Announces Third Quarter 2021 Earnings Release and Dividend

PR Newswire

ALBEMARLE, N.C. , Oct. 21, 2021 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $921.0 million at September 30, 2021 , versus $827.8 million at December 31, 2020 .

Net income for the nine-month period ended September 30, 2021 , was $8.9 million versus $3.5 million for the same period in 2020. For the nine months ended September 30, 2021 , net income available to common shareholders was $8.4 million or $1.17 per share compared to $3.1 million or $0.42 per share for September 30, 2020 . 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 September 30, 2021 , was $2.7 million versus $1.6 million for the same period in 2020. For the three months ended September 30, 2021 , net income available to common shareholders was $2.5 million or $0.35 per share compared to $1.4 million or $0.20 per share for the same quarter in 2020, an increase of 77%.

Additionally, the Board of Directors has declared a 3% stock dividend to be paid to common stock shareholders on November 23, 2021 . Current and prior year earnings per share reported above have been adjusted retroactively for the 3% stock dividend.

Shareholders of Uwharrie Capital Corp, as of the record date November 9, 2021 , 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.

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.

SOURCE Uwharrie Capital Corp