Uwharrie Capital Corp Files 8-K on Financial Condition

TL;DR

**Uwharrie Capital Corp just dropped an 8-K on Feb 21, 2024, detailing their financial results and operations.**

AI Summary

Uwharrie Capital Corp filed an 8-K on February 21, 2024, reporting on its results of operations and financial condition. The filing indicates that the company, incorporated in North Carolina with IRS Employer Identification No. 56-1814206, is headquartered at 132 North First Street, Albemarle, North Carolina. This current report was filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

This filing provides an update on Uwharrie Capital Corp's financial health and operational performance, offering transparency to investors and the market.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial results and operations, not indicating any immediate high-risk events.

Key Players & Entities

• Uwharrie Capital Corp (company) — Registrant
• North Carolina (location) — State of Incorporation
• 000-22062 (other) — Commission File Number
• 56-1814206 (other) — IRS Employer Identification No.
• February 21, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $1.07 billion — t reported consolidated total assets of $1.07 billion at December 31, 2023, compared to $1.02
• $1.02 billion — llion at December 31, 2023, compared to $1.02 billion at December 31, 2022. Net income for
• $8.6 million — nth period ended December 31, 2023, was $8.6 million versus $8.2 million for the same period
• $8.2 million — ember 31, 2023, was $8.6 million versus $8.2 million for the same period in 2022. For the tw
• $8.0 m — me available to common shareholders was $8.0 million, or $1.12 per diluted share, comp
• $1.12 — ommon shareholders was $8.0 million, or $1.12 per diluted share, compared to $7.7 mil
• $7.7 m — or $1.12 per diluted share, compared to $7.7 million, or $1.06 per diluted share, for
• $1.06 — ted share, compared to $7.7 million, or $1.06 per diluted share, for the twelve month

Filing Documents

• uwhr-20240221.htm (8-K) — 50KB
• uwhr-ex99_1.htm (EX-99.1) — 7KB
• img205731513_0.jpg (GRAPHIC) — 20KB
• 0000950170-24-017679.txt ( ) — 198KB
• uwhr-20240221.xsd (EX-101.SCH) — 25KB
• uwhr-20240221_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On February 21, 2024, Uwharrie Capital Corp (the "Registrant") announced financial results for the period ended December 31, 2023. The Registrant reported consolidated total assets of $1.07 billion at December 31, 2023, compared to $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 the twelve months ended December 31, 2022. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Registrant. A copy of the press release (the "Press Release") announcing the Registrant's results is attached as Exhibit 99.1 and incorporated by reference herein. This Current Report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Registrant's goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of the Registrant's management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which ar

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description 99.1 Press Release dated February 21, 2024 104 Cover page interactive data file (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UWHARRIE CAPITAL CORP Date: February 21, 2024 By: /s/ Heather H. Almond Heather H. Almond Principal Financial Officer