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Uwharrie reports 68% increase in 3Q net, 3% stock dividend

Oct. 21. Uwharrie Capital reported net income for the third quarter of $2.7 million was 68 percent higher than the same period in 2020, For the three months ended Sept. 30, net income available to common shareholders was $2.5 million compared to $1.4 million during the same quarter in 2020, an increase of 77 percent.

Assets

Total assets at Sept. 30 reached $921.0 million compared to $827.8 million at the start of 2021.

Nine months

Net income for the first nine months was $8.9 million vs. $3.5 million for the same period in 2020.

Dividend

The board has declared a 3 percent stock dividend to be paid to common stock shareholders of record Nov. 9, payable on Nov. 23.

Current and prior year earnings per share reported above have been adjusted retroactively for the 3 percent stock dividend.

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