Uwharrie Capital Q2 EPS jumps to $0.53

UWHARRIE CAPITAL CORP (UWHR) reported strong second-quarter 2026 results, highlighting growth in size and earnings.

Rhea-AI Filing Summary

UWHARRIE CAPITAL CORP (UWHR) reported strong second-quarter 2026 results, highlighting growth in size and earnings. Total assets reached $1.22 billion as of June 30, 2026, up 4.5% from June 30, 2025, and total deposits were $1.10 billion, a 3.5% year-over-year increase. Shareholders’ equity rose to $81.1 million, with book value per share of $9.91 versus $7.58 a year earlier.

For Q2 2026, net income was $3.9 million compared with $2.8 million in Q2 2025, and net income attributable to common shareholders was $3.8 million, translating to earnings per common share of $0.53 versus $0.37. Management notes that quarterly earnings benefited from non-recurring items, including gains on the sale of Visa shares and the reversal of previously established credit loss reserves, which are not viewed as indicative of ongoing earnings capacity. The company emphasizes continued focus on core operating performance, relationship growth and disciplined strategy execution.

Positive

• Q2 2026 net income attributable to Uwharrie Capital Corp and common shareholders increased about 39% year over year to $3.8 million, with EPS rising to $0.53 from $0.37.
• Total assets grew to $1.22 billion, up 4.5% from June 30, 2025, while total deposits increased to $1.10 billion, supporting balance sheet expansion.
• Book value per share improved to $9.91 at June 30, 2026 from $7.58 a year earlier, reflecting stronger capital and retained earnings.
• Uwharrie Bank was recognized by the American Bankers Association as the 12th top-performing publicly traded U.S. bank under $2 billion in assets.

Negative

• None.

Filing Explained

The June 30 balance sheet reports 7,107,034 shares issued or in process, against 20,000,000 authorized.

As of June 30, 2026, the balance sheet reports 7,107,034 common shares as “issued and outstanding or in process of issuance,” compared with 7,013,052 a year earlier; for existing holders, the filing therefore shows a larger reported share base while leaving the completion status of shares in process unresolved.

The same table lists 20,000,000 shares as authorized, separately from the reported issued, outstanding, or in-process amount. If shares in process are issued as additional shares, existing holders’ percentage ownership would be reduced absent offsetting changes.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Total assets: $1,222,106 thousand Total deposits: $1,099,066 thousand Net income (Q2 2026): $3,913 thousand +5 more

8 metrics

Total assets $1,222,106 thousand Total assets as of June 30, 2026

Total deposits $1,099,066 thousand Total deposits as of June 30, 2026

Net income (Q2 2026) $3,913 thousand Three months ended June 30, 2026; compared to $2,824 thousand in 2025

Net income attributable to common (six months 2026) $6,848 thousand Six months ended June 30, 2026; compared to $5,097 thousand in 2025

Earnings per common share (Q2 2026) $0.53 Basic and diluted EPS for three months ended June 30, 2026; $0.37 in 2025

Book value per share $9.91 Book value per share in 2026 versus $7.58 in 2025

Net interest income (Q2 2026) $10,186 thousand Net interest income for the three months ended June 30, 2026

Noninterest income (Q2 2026) $4,045 thousand Total noninterest income for the three months ended June 30, 2026

Key Terms

allowance for credit losses, securities available for sale, noncontrolling interest, book value per share, +1 more

5 terms

allowance for credit losses financial

"reversal of previously established credit loss reserves"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

securities available for sale financial

"Securities available for sale | | | 359,771"

Securities available for sale are investments—like bonds or shares—that a company owns but does not plan to hold until they mature or trade every day; they are kept with the intention that they may be sold when needed or when a good opportunity arises. For investors, these holdings matter because their market value changes can affect a company’s reported net worth and provide a source of cash or unexpected gains or losses, similar to having a reserve of items you can sell when prices are favorable.

noncontrolling interest financial

"Noncontrolling interest | | | 10,655"

The portion of a business owned by investors other than the controlling owner when one company has control of another; it represents outside shareholders’ share of the subsidiary’s assets and profits. For investors, it matters because those outside claims reduce the amount of profit and net assets attributable to the parent owner — similar to saying part of a pizza belongs to someone else — and thus affects earnings, book value and valuation.

book value per share financial

"Book value per share $9.91 in 2026 and $7.58 in 2025"

Book value per share is a company’s net worth on paper — total assets minus liabilities — divided by the number of outstanding shares, showing the equity value attributable to each share. Investors use it like a per-slice estimate of a company’s underlying value to compare with the market price; if the market price is far above the book value, the stock may be priced for strong future profits, and if it’s below, the stock might look undervalued or reflect asset concerns.

mortgage banking financial

"Income from mortgage banking | | | 997"

Mortgage banking is the business of creating, funding, and sometimes servicing home loans: a company evaluates borrowers, provides loan funds or arranges them through investors, and may collect payments and manage the loan over time. For investors, it matters because mortgage bankers earn fees and interest, are sensitive to interest rate swings and housing demand, and act like a bridge between savers and borrowers—similar to a matchmaker who also handles the paperwork and payments.

Offering Details

IPO/secondary/shelf/ATM

Offering

Offering Type IPO/secondary/shelf/ATM

FAQ

How did UWHR’s net income perform in Q2 2026 versus Q2 2025?

Net income in Q2 2026 was $3.9 million, compared with $2.8 million in Q2 2025. Net income attributable to Uwharrie Capital Corp and common shareholders was $3.8 million, up about 39% year over year.

What were UWHR’s earnings per share for Q2 2026?

For Q2 2026, Uwharrie Capital Corp reported basic and diluted earnings per common share of $0.53, compared with $0.37 for Q2 2025, based on weighted average common shares outstanding of about 7.13 million.

What were UWHR’s total assets and deposits as of June 30, 2026?

As of June 30, 2026, Uwharrie Capital Corp had $1.22 billion in total assets and $1.10 billion in total deposits. These represented year-over-year increases of 4.5% in assets and 3.5% in deposits from June 30, 2025.

How did non-recurring items affect UWHR’s Q2 2026 results?

Reported Q2 2026 earnings were positively affected by non-recurring items, including gains from the sale of Visa shares and the reversal of previously established credit loss reserves. Management states these items are not representative of the company’s ongoing earnings capacity.

What was UWHR’s book value per share at June 30, 2026?

Book value per share at June 30, 2026 was $9.91, compared with $7.58 at June 30, 2025. Net income per share, book value per share, and weighted average shares outstanding are adjusted for a 3.0% stock dividend in 2025.

How did UWHR perform for the first six months of 2026?

For the six months ended June 30, 2026, net income was $7.1 million, with net income attributable to Uwharrie Capital Corp and common shareholders of $6.8 million, compared with $5.1 million for the same period in 2025.

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Available on EDGAR 08/21/2026 - 09:40 AM Accepted by SEC EDGAR 08/21/2026 - 09:39 AM Learn about SEC filing dates

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 21, 2026

Uwharrie Capital Corp

(Exact name of Registrant as Specified in Its Charter)

North Carolina			000-22062	56-1814206
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
132 North First Street
Albemarle, North Carolina				28001
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 704 983-6181

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
None		N/A		N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 21, 2026, Uwharrie Capital Corp (the “Registrant”) released a quarterly report to its shareholders that included a letter to the shareholders from President and CEO Roger L. Dick and unaudited financial information for the period ended June 30, 2026.

A copy of this report is attached hereto as Exhibit 99.1 and incorporated by reference herein.

This Current Report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Registrant’s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of the Registrant’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrant’s control).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Quarterly report to shareholders for the period ended June 30, 2026
104		Cover page interactive data file (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		UWHARRIE CAPITAL CORP
Date: August 21, 2026		By:	/s/ Heather H. Almond
			Heather H. Almond
			Principal Financial Officer

Exhibit 99.1

August 21, 2026

Dear Shareholder:

We are pleased to report on the performance of Uwharrie Capital Corp for the second quarter of 2026. The economic environment remains dynamic as businesses and consumers continue to navigate changing interest rate expectations, inflationary pressures, and evolving market conditions. Despite these uncertainties, we remain focused on the fundamentals that have guided our organization for decades: relationship building, sound risk management, strong capital levels, and local decision-making.

During the quarter, your Company achieved several noteworthy milestones:

•Total assets reached $1.22B, an increase of 4.5% from June 30, 2025

•Total deposits reached $1.1B, increasing 3.5% from June 30, 2025

•Net income increased $1.1M, or 39%, from Q2 2025 and $1.8M, or 33%, year-over-year

•Uwharrie Bank was recognized by the American Bankers Association as the 12th top-performing publicly traded bank in the United States among banks under $2 billion in assets, reflecting our commitment to delivering sustainable performance and long-term shareholder value

•We completed the relocation of our Mount Pleasant office into a newly renovated, full-service banking facility, enhancing our ability to serve customers while reaffirming our commitment to the community we proudly call home

Reported earnings during the quarter were positively impacted by certain non-recurring items, including gains associated with the sale of Visa shares and the reversal of previously established credit loss reserves. While these items contributed to reported results, they are not representative of the ongoing earnings capacity of the organization. Management remains focused on core operating performance, relationship growth, and disciplined execution of our long-term strategic objectives.

We appreciate the trust and confidence of our shareholders, customers, associates, and communities. Your support enables us to continue building a stronger organization focused on long-term value creation and community impact.

Sincerely,

UWHARRIE CAPITAL CORP

/s/ Roger L. Dick

President and Chief Executive Officer

This Report may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Company's goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook,” or similar expressions. These statements are based upon the current belief and expectations of the Company‘s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control).

Uwharrie Capital Corp and Subsidiaries
Consolidated Balance Sheets (Unaudited)
		June 30,				June 30,
(Amounts in thousands except share and per share data)		2026				2025
Assets
Cash and due from banks		$	10,617			$	10,676
Interest-earning deposits with banks			81,095				62,598
Securities available for sale			359,771				340,985
Securities held to maturity (fair value $20,373 and $21,047, respectively)			21,924				23,753
Less: allowance for credit losses on securities held to maturity			(44	)			(54	)
Net securities held to maturity			21,880				23,699
Equity securities, at fair value			878				325
Loans held for sale			7,820				9,147
Loans held for investment			692,231				677,556
Less: allowance for credit losses on loans			(5,986	)			(6,231	)
Net loans held for investment			686,245				671,325
Premises and equipment, net			16,745				14,054
Interest receivable			4,353				4,300
Restricted stock			1,825				1,749
Bank-owned life insurance			8,149				8,008
Deferred income tax			6,857				8,036
Loan servicing assets			3,647				3,828
Other assets			12,224				11,024
Total assets		$	1,222,106			$	1,169,754
Liabilities
Deposits:
Demand, noninterest-bearing		$	295,307			$	291,431
Interest checking and money market accounts			412,841				394,855
Savings accounts			115,381				102,666
Time deposits, $250,000 and over			120,779				127,984
Other time deposits			154,758				145,428
Total deposits			1,099,066				1,062,364
Short-term borrowed funds			228				1,132
Long-term debt			30,086				29,200
Other liabilities			11,662				11,654
Total liabilities			1,141,042				1,104,350
Shareholders' Equity
Common stock, $1.25 par value: 20,000,000 shares authorized;
issued and outstanding or in process of issuance
7,107,034 and 7,013,052, respectively.
Book value per share $9.91 in 2026 and $7.58 in 2025 (1)			8,884				8,766
Additional paid-in capital			12,812				12,038
Undivided profits			65,844				55,448
Accumulated other comprehensive loss			(17,131	)			(21,503	)
Total Uwharrie Capital Corp shareholders' equity			70,409				54,749
Noncontrolling interest			10,655				10,655
Total shareholders' equity			81,064				65,404
Total liabilities and shareholders' equity		$	1,222,106			$	1,169,754
(1) Net income per share, book value per share and weighted average shares outstanding have been adjusted to reflect the 3.0% stock dividend in 2025.

Uwharrie Capital Corp and Subsidiaries
Consolidated Statements of Income (Unaudited)
		Three Months Ended								Six Months Ended
		June 30,								June 30,
(Amounts in thousands except share and per share data)		2026				2025				2026				2025
Interest Income
Interest and fees on loans		$	10,691			$	10,479			$	21,305			$	20,704
Interest on investment securities			3,306				3,195				6,547				6,282
Interest-earning deposits with banks and federal funds sold			882				662				1,610				1,152
Total interest income			14,879				14,336				29,462				28,138
Interest Expense
Interest paid on deposits			4,351				4,270				8,845				8,625
Interest paid on borrowed funds			342				335				667				678
Total interest expense			4,693				4,605				9,512				9,303
Net Interest Income			10,186				9,731				19,950				18,835
Provision for (recovery of) credit losses			(424	)			254				(486	)			535
Net interest income after provision for (recovery of) credit losses			10,610				9,477				20,436				18,300
Noninterest Income
Service charges on deposit accounts			286				263				575				522
Interchange and card transaction fees			341				308				583				557
Other service fees and commissions			1,109				989				2,163				1,970
Gain (loss) on sale of securities			-				-				186				-
Realized/unrealized gain (loss) on equity securities			825				14				846				(9	)
Income from mortgage banking			997				1,027				2,178				2,078
Other income			487				483				473				347
Total noninterest income			4,045				3,084				7,004				5,465
Noninterest Expense
Salaries and employee benefits			5,973				5,711				11,855				11,131
Occupancy expense			480				433				977				897
Equipment expense			205				207				404				411
Data processing			237				228				462				441
Loan costs			84				69				150				158
Professional fees and services			210				267				423				537
Marketing and donations			666				359				1,061				718
Software amortization and maintenance			431				356				841				720
Other operating expenses			1,377				1,350				2,185				1,895
Total noninterest expense			9,663				8,980				18,358				16,908
Income before income taxes			4,992				3,581				9,082				6,857
Provision for income taxes			1,079				757				1,954				1,480
Net Income		$	3,913			$	2,824			$	7,128			$	5,377
Consolidated net income		$	3,913			$	2,824			$	7,128			$	5,377
Less: net income attributable to noncontrolling interest			(141	)			(141	)			(280	)			(280	)
Net income attributable to Uwharrie Capital Corp and common shareholders		$	3,772			$	2,683			$	6,848			$	5,097
Net Income Per Common Share (1)
Basic		$	0.53			$	0.37			$	0.96			$	0.70
Assuming dilution		$	0.53			$	0.37			$	0.96			$	0.70
Weighted Average Common Shares Outstanding (1)
Basic			7,131,251				7,258,577				7,149,389				7,273,277
Assuming dilution			7,131,251				7,258,577				7,149,389				7,273,277

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 555.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 23.4 KB