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FOR IMMEDIATE RELEASE
|Uwharrie Capital Corp|
|DATE:||March 2, 2009|
ALBEMARLE, N.C. Uwharrie Capital Corp, parent company for Bank of Stanly, Anson Bank & Trust and Cabarrus Bank & Trust, reported unaudited earnings from operations of $3.802 million for the year ended December 31, 2008 as compared to $4.261 million for the same period in 2007. Although our markets have held up better than most across the country, we are not immune to the current economic conditions and we will continue to be vigilant and disciplined in our credit administration and operating decisions. During the year ended December 31, 2008, the Company provided loan loss provisions of $969 thousand as compared to $15 thousand for the same period in 2007. Net income for 2008, after this provision and taxes, was $2.029 million or $0.27 per share compared to $2.959 million or $0.39 per share in 2007.
Our company produced a solid year of operating income by remaining focused on our community-banking approach during what is proving to be very
The following information was filed by Uwharrie Capital Corp (UWHR) on Thursday, March 5, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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