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ALBEMARLE, N.C., Aug. 30, 2022 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $991.0 million at June 30, 2022, versus $845.3 million at June 30, 2021.
Net income for the six-month period ended June 30, 2022, was $2.5 million versus $6.2 million for the same period in 2021. For the six months ended June 30, 2022, net income available to common shareholders was $2.2 million, or $0.32 per share, compared to $5.9 million, or $0.82 per share, for June 30, 2021. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.
Net income for the three-month period ended June 30, 2022, was $1.7 million versus $1.6 million for the same period in 2021. For the three months ended June 30, 2022, net income available to common shareholders was $1.5 million, or $0.22 per share, compared to $1.5 million, or $0.20 per share, for June 30, 2021.
The year-over-year decline in net income as of June 30, 2022 is due to non-recurring earnings during the first six months of 2021. Examples of non-recurring earnings include $1 million of one-time Small Business Administration Paycheck Protection Program income and $991 thousand of one-time bond gains. Further, our region has experienced a historical refinancing boom in the housing sector, which contributed $4.7 million in additional mortgage revenue for 2021.
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.
uwharrie bank exists for the same reasons that any bank exists. but our story is so much more than that. we’re more than a collection of services and accounts. we’re people. we’re conversations. we’re ears to listen and hearts full of helpful advice. we believe that by doing our jobs just a little bit better, we can make a big difference in your everyday life. we empower people with the financial tools and knowledge they need to achieve their goals. we believe in relationships that are authentic and personal, whether they’re with people or businesses. by understanding and meeting the financial needs of our customers, we can enhance the economic vitality of every community we serve. member fdic. equal housing lender.
View original content:https://www.prnewswire.com/news-releases/uwharrie-capital-corp-announces-second-quarter-2022-earnings-301615006.html