UWHR · Uwharrie Capital Corp

Uwharrie Capital Corp announced financial results for the first quarter of 2026, demonstrating solid year-over-year growth in profitability and asset base. Net income for the three months ended March 31, 2026, rose to $3.2 million, an increase from $2.6 million reported for the same period in 2025. This improvement flowed down to common shareholders, with net income available to common shareholders reaching $3.1 million, or $0.43 per share, compared to $2.4 million, or $0.33 per share, in the prior year period. The difference between net income and net income available to common shareholders accounts for dividends paid on preferred stock issued by the Registrant.

The company attributed the year-over-year improvement in net income to an enhanced net interest margin, resulting from increased earnings across all interest-earning assets. This suggests effective asset deployment and potentially favorable interest rate environments impacting the bank's core lending and investment activities. Balance sheet strength was also evident, with consolidated total assets increasing to $1.25 billion at March 31, 2026, up from $1.20 billion at December 31, 2025. The press release issued by the company (Exhibit 99.1) confirmed these figures and highlighted the contribution of the subsidiary, Uwharrie Bank, to the consolidated performance. No specific forward-looking guidance or outlook figures were provided in the filing text, though the document contained standard cautionary language regarding forward-looking statements.