8-K

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): March 15, 2021

UWHARRIE CAPITAL CORP

(Exact name of Registrant as Specified in Its Charter)

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

N/A

(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 (see General Instructions A.2. below):

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

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 8.01 Other Events.

On March 15, 2021, Uwharrie Capital Corp (the “Company”), the bank holding company for Uwharrie Bank, announced that, effective that day, its common stock began trading on the OTC Market Group’s OTCQX® Best Market, upgrading from the Pink® market.

To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws, and have a professional third-party sponsor introduction.  The Company was sponsored for OTCQX by Raymond James & Associates, Inc., a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.

The Company’s common stock trades on OTCQX under the symbol “UWHR.” U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for Uwharrie at www.otcmarkets.com.

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 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).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

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 hereunto duly authorized.

uwhr-ex991_6.htm

Exhibit 99.1

Uwharrie Capital Corp Upgrades to Trade Shares on the OTCQX Best Market

ALBEMARLE, NC – March 15, 2021  The common stock of Uwharrie Capital Corp (OTCQX: UWHR), the bank holding company for Uwharrie Bank, began trading today on OTC Markets Group’s OTCQX® Best Market (“OTCQX”). The company qualified to trade on the OTCQX and upgraded from the Pink® market. OTC Markets Group operates financial markets for approximately 11,000 U.S. and global securities.

Uwharrie Bank is a community banking organization that was organized in the early 1980s as the consolidation of the financial industry created a void for local and family owned businesses.  Currently, with total assets of $827.8 million at December 31, 2020, Uwharrie Bank continues to serve the needs of community based organizations and is a major benefactor to the communities it serves.

Roger Dick, Chief Executive Officer of Uwharrie Capital Corp said, “The founding mission of Uwharrie Capital Corp still holds true, to help create robust local economies that help our neighbors obtain a quality of life that promotes traditional values; values that inspire us to care for one another and create opportunities where our children and grandchildren can achieve financial security. To us, it’s about more than a bottom line, it’s about Making a Difference®.”

“We think that’s a story worth telling on a broader stage. By joining the OTCQX, it is our intent to enhance share value to all shareholders and highlight Uwharrie’s long-term commitment to the communities we serve,” commented David Beaver, Chief Financial Officer of Uwharrie Capital Corp.

Graduating to the OTCQX marks an important milestone for community banks and bank holding companies in the U.S. public markets. The OTCQX enables banks and bank holding companies to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks and bank holding companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws, and have a professional third-party sponsor introduction.  Uwharrie Capital Corp was sponsored for OTCQX by Raymond James & Associates, Inc., a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.

The common stock of Uwharrie Capital Corp trades on OTCQX under the symbol “UWHR.” U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for Uwharrie at www.otcmarkets.com.