Uwharrie Capital Corp 8-K, filed Nov 13, 2026
Uwharrie Capital Corp (UWHR)
About this 8-K
Uwharrie Capital Corp filed this 8-K on November 13, 2026.
Uwharrie Capital Corp reported total assets of $1.23 billion and nine-month net income of $10 million, up nearly 21% from $8.3 million, with loans up $27 million to $709 million. Its Board declared a 3% stock dividend payable November 23, 2026 to shareholders of record as of November 5, 2026. AI summary
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
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): |
(Exact name of Registrant as Specified in Its Charter)
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(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:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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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 November 13, 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 September 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 |
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Description |
99.1 |
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Quarterly report to shareholders for the period ended September 30, 2026 |
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104 |
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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.
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UWHARRIE CAPITAL CORP |
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Date: November 13, 2026 |
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By: |
/s/ Heather H. Almond |
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Heather H. Almond |
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Principal Financial Officer |
Exhibit 99.1
November 13, 2026
Dear Shareholder:
As we approach the holiday season and the end of another year, we are grateful for the trust
and support of our shareholders, customers, associates, and communities. That support has
sustained Uwharrie through both good times and challenging ones, and we do not take it for
granted. For more than four decades, we have remained focused on a simple purpose: helping
people prosper and helping the communities we serve grow stronger.
That responsibility requires us to be good stewards of the resources entrusted to us and to
manage the Company with a strategic perspective. We are pleased to report that as of
September 30, 2026, total assets reached $1.23 billion, an increase of $15 million compared to
the same period in 2025. Our loan portfolio grew by $27 million to $709 million, supported by
core deposit growth of $14 million year-over-year. Net income for the nine months ending
September 30, 2026, was $10 million, up nearly 21% from $8.3 million for the same nine
months in 2025.
In light of this continued progress, the Board of Directors has declared a 3% stock dividend
payable on November 23, 2026, to shareholders of record as of November 5, 2026. The
dividend will be issued electronically in book-entry form. This stock dividend reflects the
growth of the Company and provides our shareholders with something important, choice and
flexibility. Shareholders who do not need current income may retain their dividend shares and
continue building their ownership in Uwharrie, while those who desire current income may
choose to sell the shares and receive the value in cash. This approach allows each shareholder
to make the decision that best fits his or her individual circumstances and long-term financial
objectives.
We are encouraged by our progress, but we also recognize the challenges facing many of our customers and businesses. Higher borrowing costs, elevated household and operating expenses, and continued economic uncertainty are affecting financial decisions throughout the communities we serve. These conditions have reduced mortgage banking income and continue to place pressure on funding costs and net interest margin. We will continue to manage these challenges carefully, with the same focus on asset quality, liquidity, capital strength, and sustained profitability that has served Uwharrie well over the years.
Thank you for the confidence you continue to place in Uwharrie. We are grateful for your investment, your support, and the opportunity to continue building our communities together. From all of us at Uwharrie, we wish you and your family a blessed holiday season and a happy and prosperous New Year.
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 |
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Consolidated Balance Sheets (Unaudited) |
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September 30, |
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September 30, |
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(Amounts in thousands except share and per share data) |
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2026 |
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2025 |
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Assets |
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Cash and due from banks |
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$ |
10,035 |
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$ |
10,768 |
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Interest-earning deposits with banks |
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65,256 |
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100,250 |
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Securities available for sale |
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375,000 |
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354,920 |
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Securities held to maturity (fair value $16,093 and $20,016, respectively) |
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18,643 |
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22,023 |
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Less: allowance for credit losses on securities held to maturity |
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(30 |
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(46 |
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Net securities held to maturity |
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18,613 |
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21,977 |
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Equity securities, at fair value |
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269 |
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332 |
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Loans held for sale |
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6,588 |
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5,083 |
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Loans held for investment |
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702,750 |
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677,390 |
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Less: allowance for credit losses on loans |
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(5,763 |
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(6,356 |
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Net loans held for investment |
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696,987 |
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671,034 |
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Premises and equipment, net |
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17,355 |
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14,171 |
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Interest receivable |
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4,777 |
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4,700 |
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Restricted stock |
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1,825 |
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1,779 |
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Bank-owned life insurance |
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8,186 |
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8,044 |
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Deferred income tax |
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10,180 |
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7,132 |
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Loan servicing assets |
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3,596 |
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3,799 |
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Other assets |
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12,510 |
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11,837 |
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Total assets |
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$ |
1,231,177 |
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$ |
1,215,826 |
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Liabilities |
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Deposits: |
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Demand, noninterest-bearing |
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$ |
303,559 |
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$ |
287,219 |
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Interest checking and money market accounts |
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434,280 |
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429,147 |
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Savings accounts |
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108,077 |
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100,842 |
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Time deposits, $250,000 and over |
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126,239 |
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137,654 |
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Other time deposits |
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145,681 |
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149,191 |
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Total deposits |
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1,117,836 |
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1,104,053 |
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Short-term borrowed funds |
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152 |
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43 |
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Long-term debt |
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31,606 |
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29,219 |
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Other liabilities |
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13,032 |
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11,545 |
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Total liabilities |
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1,162,626 |
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1,144,860 |
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Shareholders' Equity |
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Common stock, $1.25 par value: 20,000,000 shares authorized; |
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issued and outstanding or in process of issuance |
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6,866,743 and 6,988,394 shares, respectively. |
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Book value per share $8.19 in 2026 and $8.13 in 2025 (1) |
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8,583 |
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8,735 |
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Common stock dividend distributable |
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257 |
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262 |
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Additional paid-in capital |
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12,305 |
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13,666 |
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Undivided profits |
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65,695 |
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56,089 |
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Accumulated other comprehensive loss |
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(28,944 |
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(18,441 |
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Total Uwharrie Capital Corp shareholders' equity |
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57,896 |
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60,311 |
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Noncontrolling interest |
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10,655 |
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10,655 |
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Total shareholders' equity |
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68,551 |
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70,966 |
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Total liabilities and shareholders' equity |
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$ |
1,231,177 |
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$ |
1,215,826 |
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(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 2026 and 2025. |
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Uwharrie Capital Corp and Subsidiaries |
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Consolidated Statements of Income (Unaudited) |
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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(Amounts in thousands except share and per share data) |
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2026 |
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2025 |
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2026 |
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2025 |
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Interest Income |
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Interest and fees on loans |
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$ |
10,864 |
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$ |
10,800 |
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$ |
32,169 |
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$ |
31,504 |
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Interest on investment securities |
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3,453 |
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3,218 |
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10,000 |
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9,500 |
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Interest-earning deposits with banks and federal funds sold |
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730 |
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682 |
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2,340 |
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1,834 |
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Total interest income |
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15,047 |
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14,700 |
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44,509 |
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42,838 |
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Interest Expense |
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Interest paid on deposits |
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4,462 |
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4,481 |
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13,307 |
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13,106 |
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Interest paid on borrowed funds |
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372 |
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331 |
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1,039 |
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1,009 |
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Total interest expense |
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4,834 |
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4,812 |
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14,346 |
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14,115 |
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Net Interest Income |
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10,213 |
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9,888 |
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30,163 |
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28,723 |
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Provision for (recovery of) credit losses |
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(287 |
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176 |
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(773 |
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711 |
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Net interest income after provision for (recovery of) credit losses |
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10,500 |
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9,712 |
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30,936 |
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28,012 |
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Noninterest Income |
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Service charges on deposit accounts |
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308 |
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280 |
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883 |
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802 |
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Interchange and card transaction fees |
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309 |
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252 |
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892 |
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809 |
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Other service fees and commissions |
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1,122 |
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1,002 |
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3,285 |
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2,972 |
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Gain (loss) on sale of securities |
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(28 |
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- |
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158 |
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- |
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Realized/unrealized gain (loss) on equity securities |
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(17 |
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7 |
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829 |
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(2 |
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Income from mortgage banking |
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374 |
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927 |
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2,552 |
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3,005 |
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Other income |
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993 |
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438 |
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1,466 |
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785 |
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Total noninterest income |
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3,061 |
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2,906 |
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10,065 |
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8,371 |
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Noninterest Expense |
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Salaries and employee benefits |
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5,840 |
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5,581 |
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17,695 |
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16,712 |
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Occupancy expense |
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547 |
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488 |
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1,524 |
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1,385 |
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Equipment expense |
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244 |
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195 |
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648 |
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606 |
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Data processing |
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237 |
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223 |
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699 |
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664 |
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Loan costs |
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73 |
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47 |
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223 |
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205 |
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Professional fees and services |
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221 |
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289 |
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644 |
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826 |
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Marketing and donations |
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504 |
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375 |
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1,565 |
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1,093 |
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Software amortization and maintenance |
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444 |
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412 |
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1,285 |
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1,132 |
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Other operating expenses |
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1,803 |
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1,251 |
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3,988 |
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3,146 |
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Total noninterest expense |
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9,913 |
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8,861 |
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28,271 |
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25,769 |
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Income before income taxes |
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3,648 |
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3,757 |
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12,730 |
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10,614 |
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Provision for income taxes |
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788 |
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867 |
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2,742 |
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2,347 |
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Net Income |
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$ |
2,860 |
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$ |
2,890 |
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$ |
9,988 |
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$ |
8,267 |
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Consolidated net income |
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$ |
2,860 |
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$ |
2,890 |
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$ |
9,988 |
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$ |
8,267 |
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Less: net income attributable to noncontrolling interest |
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(142 |
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(142 |
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(422 |
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(422 |
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Net income attributable to common shareholders |
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$ |
2,718 |
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$ |
2,748 |
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$ |
9,566 |
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$ |
7,845 |
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Net Income Per Common Share (1) |
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Basic |
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$ |
0.37 |
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$ |
0.37 |
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$ |
1.31 |
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$ |
1.05 |
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Assuming dilution |
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$ |
0.37 |
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$ |
0.37 |
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$ |
1.31 |
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$ |
1.05 |
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Weighted Average Common Shares Outstanding (1) |
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Basic |
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7,257,667 |
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7,432,747 |
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7,328,080 |
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7,471,684 |
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Assuming dilution |
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7,257,667 |
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7,432,747 |
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7,328,080 |
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7,471,684 |
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