First Quarter 2025 - Earnings Release

Rhea-AI Summary

Uwharrie Capital Corp (UWHR) has reported its financial results for Q1 2025. The company's consolidated total assets reached $1.16 billion as of March 31, 2025, up from $1.13 billion at the end of 2024. Net income for Q1 2025 increased to $2.6 million, compared to $2.4 million in Q1 2024.

Net income available to common shareholders rose to $2.4 million, or $0.34 per share, up from $2.2 million ($0.31 per share) in the same period last year. The improvement in net income was attributed to enhanced net interest margin driven by increased earnings from loan portfolio growth.

ALBEMARLE, N.C., May 5, 2025 /PRNewswire/ -- Uwharrie Capital Corp and its subsidiary, Uwharrie Bank (the "Bank"), reported consolidated total assets of $1.16 billion at March 31, 2025, versus $1.13 billion at December 31, 2024.

Net income for the three-month period ended March 31, 2025, was $2.6 million versus $2.4 million for the same period in 2024. For the three months ended March 31, 2025, net income available to common shareholders was $2.4 million, or $0.34 per share, compared to $2.2 million, or $0.31 per share, for the three months ended March 31, 2024. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Bank.

The year-over-year improvement in net income as of March 31, 2025 is due to improvement in net interest margin resulting from increased earnings on growth in the loan portfolio.

Contact Heather Almond, Chief Financial Officer at 704-983-6181 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.Uwharrie.com or by calling 704-982-4415

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SOURCE UWHARRIE CAPITAL CORP

FAQ

What was Uwharrie Capital's (UWHR) earnings per share in Q1 2025?

Uwharrie Capital reported earnings of $0.34 per share for Q1 2025, compared to $0.31 per share in Q1 2024.

How much did UWHR's total assets grow in Q1 2025?

Uwharrie Capital's total assets grew to $1.16 billion as of March 31, 2025, up from $1.13 billion at December 31, 2024.

What was Uwharrie Capital's net income for Q1 2025?

Uwharrie Capital reported net income of $2.6 million for Q1 2025, compared to $2.4 million in Q1 2024.

What drove UWHR's improved financial performance in Q1 2025?

The improvement in net income was due to enhanced net interest margin resulting from increased earnings on growth in the loan portfolio.