Uwharrie Capital Corp Reports Strong Earnings Growth
Uwharrie Capital Corp's Recent Financial Performance
Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, have shared positive results reflecting their sustained growth in the financial sector. The company disclosed that their consolidated total assets reached an impressive $1.17 billion at the end of June, demonstrating a notable increase from $1.13 billion as of the end of the previous calendar year.
Growth in Net Income
This financial progression is promising, as the net income for the first half of the year amounted to $5.4 million, a significant rise compared to $4.6 million for the same timeframe in the previous year. The results indicated that net income available to common shareholders was $5.1 million, equivalent to $0.72 per share. This contrasts positively with $4.3 million and $0.60 per share reported last year, highlighting an upward trend.
Quarterly Performance Insights
When examining the quarterly figures, Uwharrie Capital noted that net income for the last three months totaled $2.8 million, a leap from $2.2 million the year prior. For this quarter, net income available to common shareholders was $2.7 million, or $0.38 per share, compared to $2.1 million and $0.29 per share from the same period the previous year. These figures underline the bank’s effective management and operational efficiency in navigating through competitive market conditions.
About Uwharrie Capital Corp
Uwharrie Capital Corp is an extensive financial service provider through its entities, including Uwharrie Bank and Uwharrie Investment Advisors. The company is dedicated to delivering diverse financial solutions tailored to meet the needs of its clients. Their commitment to customer satisfaction and community-focused banking continues to drive their success in the financial landscape.
Connect with Uwharrie Capital Corp
For more detailed information about Uwharrie Capital Corp, interested parties can visit their official website. They offer an array of financial services designed for both individual and business clients, ensuring a comprehensive approach to financial challenges. Those wishing to speak with representatives can reach the company at the phone number provided for direct inquiries.
Frequently Asked Questions
What financial results did Uwharrie Capital Corp report?
Uwharrie Capital Corp reported consolidated total assets of $1.17 billion and a net income of $5.4 million for the first half of the year.
How did the recent earnings compare to last year?
Net income increased from $4.6 million to $5.4 million compared to the same period last year, reflecting significant growth.
What was the net income available to common shareholders?
The net income available to common shareholders was $5.1 million for the first half of the year, increasing from $4.3 million the previous year.
What services does Uwharrie Capital Corp offer?
Uwharrie Capital Corp provides a full range of financial solutions, including banking and investment services through its subsidiaries.
How can I learn more about Uwharrie Capital Corp?
Additional information can be found on the Uwharrie Capital Corp website or by calling their customer service number for inquiries.
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