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Second quarter net at Uwharrie rises 80%

July 27. Uwharrie Capital and its subsidiary, Uwharrie Bank, reported consolidated total assets of $748.2 million as of June 30 this year vs. $656.8 million at year-end 2020.

Net income for the six-month period ended June 30, 2020, was $1.9 million, up from $1.6 million for the same period in 2019. For the six months ended June 30 net income available to common shareholders was $1.6 million or $0.23 per share compared to $1.4 million or $0.19 per share as of June 30 last year.

Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

Net income for the three-month period ended June 30, 2020, was $1.6 million versus $951,000 for the same period in 2019. For the three months ended June 30 this year, net income available to common shareholders was $1.5 million or $0.21 per share compared to $811,000 or $0.11 per share for the same quarter in 2019, an increase of 80 percent.

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