Exhibit 99.1

 

 

 

FOR IMMEDIATE RELEASE

 

From: Nicole Williams

           Uwharrie Capital Corp

           704-991-1276

 

Date:  February 3, 2017

 

 

Albemarle – Uwharrie Capital Corp announced financial results for the year ended December 31, 2016.  The Company reported consolidated total assets of $548.2 million at December 31, 2016.  

 

Net income for the twelve-month period ended December 31, 2016, was $2.21 million versus $2.01 million for the same period in 2015, a 10% improvement.  For the twelve months, ended December 31, 2016, net income available to common shareholders was $1.62 million or $0.23 per share compared to $1.42 million or $0.20 per share for December 31, 2015, a 14% improvement. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

 

Contact David Beaver, Chief Financial Officer at 704-991-1266 for further information.

 

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.UwharrieCapitalCorp.com or by calling 704-982-4415.

 

 

 

 


The following information was filed by Uwharrie Capital Corp (UWHR) on Friday, February 3, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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