Uwharrie Capital Assets Reach $1.23 Billion as Q3 Profit Matches 2025

Uwharrie Capital Corp reported consolidated total assets of $1.23 billion at September 30, 2026, versus $1.20 billion at December 31, 2025, in a third-quarter earnings release the company announced on October 28, 2026. The Albemarle, North Carolina-based company and its subsidiary, Uwharrie Bank, disclosed the results in the release, which was filed as Exhibit 99.1 to a Form 8-K under Item 2.02; the SEC filing index shows the report was accepted at 16:08:23 on October 28, 2026.

Net income for the nine months ended September 30, 2026, was $10.0 million, versus $8.3 million for the same period in 2025, according to the release. Net income available to common shareholders for the nine-month period was $9.6 million, or $1.31 per share, compared with $7.8 million, or $1.05 per share, for the nine months ended September 30, 2025. The release states that net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by Uwharrie Bank.

For the third quarter itself, net income was $2.9 million in both the three months ended September 30, 2026, and the three months ended September 30, 2025, according to the release. Net income available to common shareholders was $2.7 million, or $0.37 per share, in both quarters.

Heather H. Almond signed the Form 8-K as Principal Financial (PFG ) Officer, and the release lists Heather Almond, Chief Financial Officer, as the contact for further information.

Second-Quarter Results and Balance-Sheet Detail

In its previous quarterly earnings release, dated July 22, 2026, the company reported consolidated total assets of $1.22 billion at June 30, 2026, versus $1.20 billion at December 31, 2025. Second-quarter net income was $3.9 million, versus $2.8 million for the same period in 2025, and net income available to common shareholders was $3.8 million, or $0.53 per share, compared with $2.7 million, or $0.37 per share, a year earlier. For the first six months of 2026, net income was $7.1 million, versus $5.4 million in the prior-year period, and income available to common shareholders was $6.8 million, or $0.96 per share, versus $5.1 million, or $0.70 per share.

The company said second-quarter results included non-recurring items: approximately $850 thousand of gain recognized in connection with Uwharrie Bank’s participation in the 2026 Visa Exchange Offer Program, primarily reflecting the recognition of the value of Visa C shares received in exchange for Visa B shares, and the reversal of $424 thousand of previously established credit-loss reserves under the current expected credit loss (CECL) model. Excluding those items, the company said, underlying operating performance reflected “stable net interest income, strong asset quality, and continued growth in customer relationships.”

The company’s second-quarter shareholder report, dated August 21, 2026 and signed by President and Chief Executive Officer Roger L. Dick, said total assets increased 4.5% and total deposits rose 3.5% from June 30, 2025, while net income increased $1.1 million, or 39%, from the second quarter of 2025 and $1.8 million, or 33%, year over year. Dick’s letter said the American Bankers Association recognized Uwharrie Bank as the 12th top-performing publicly traded bank in the United States among banks under $2 billion in assets, and noted that the company completed the relocation of its Mount Pleasant office into a newly renovated, full-service banking facility during the quarter.

The report’s unaudited consolidated balance sheet showed total assets of $1,222,106 thousand at June 30, 2026, versus $1,169,754 thousand a year earlier. Total deposits were $1,099,066 thousand, loans held for investment were $692,231 thousand, and total shareholders’ equity was $81,064 thousand. Book value per share was $9.91; a footnote states that net income per share, book value per share, and weighted-average shares outstanding were adjusted to reflect a 3.0% stock dividend in 2025.

The report’s unaudited income statement showed second-quarter net interest income of $10,186 thousand, versus $9,731 thousand in the prior-year quarter, on total interest income of $14,879 thousand and total interest expense of $4,693 thousand. The quarter reflected a recovery of credit losses of $424 thousand, versus a provision for credit losses of $254 thousand a year earlier. Noninterest income was $4,045 thousand and noninterest expense was $9,663 thousand. Net income attributable to Uwharrie Capital Corp and common shareholders was $3,772 thousand, versus $2,683 thousand in the second quarter of 2025.

Dick’s letter said reported earnings were positively impacted by non-recurring items, including gains associated with the sale of Visa (V ) shares and the reversal of previously established credit-loss reserves, and that those items “are not representative of the ongoing earnings capacity of the organization.”

Stock Dividend

In a separate October 21, 2026, announcement, the company said its board of directors declared a 3% common stock dividend on October 20, 2026, payable on November 23, 2026, to shareholders of record at the close of business on November 5, 2026. The dividend will be issued electronically in book-entry form, with no stock certificates issued; shareholders will receive a statement reflecting the additional shares credited to their accounts, and dividend shares for stock held in brokerage accounts will be credited directly to those accounts. Only whole shares will be issued, and shareholders otherwise entitled to a fractional share will instead receive cash in lieu of the fractional share, by check or electronic deposit.