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Uwharrie Capital Corp Year-End 2024 - Earnings Release

1. Consolidated assets rose to $1.13B from $1.07B. Growth indicates expanding financial strength. 2. Net income increased to $9.9M from $8.6M. Profitability improved compared to last year. 3. Earnings per share climbed from $1.09 to $1.30. Shareholder returns are on an upswing. 4. A larger loan portfolio boosted net interest margin. Revenue generation from core banking expanded.

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Why Bullish?

The significant uptick in assets and net income suggests robust operational performance. Historically, stronger balance sheets and improved margins have driven positive re-ratings in similar financial institutions.

How important is it?

Improved key financial metrics boost investor confidence in UWHR's long-term prospects. This fundamental strength is likely to impact valuation significantly.

Why Long Term?

The expansion in assets and loan portfolio supports sustainable growth. Comparable banks have seen prolonged stock gains after similar performance trends.

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FITBKEYRF
ALBEMARLE, N.C., Feb. 24, 2025 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.13 billion at December 31, 2024, versus $1.07 billion at December 31, 2023. Net income for the twelve-month period ended December 31, 2024, was $9.9 million versus $8.6 million for the same period in 2023.  For the twelve months ended December 31, 2024, net income available to common shareholders was $9.3 million, or $1.30 per diluted share, compared to $8.0 million, or $1.09 per diluted share, for December 31, 2023. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company. The year-over-year improvement in net income as of December 31, 2024 is, in large part, the result of increased net interest margin earned on a substantially larger loan portfolio. About Uwharrie Capital CorpUwharrie 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. SOURCE Uwharrie Capital Corp

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