8-K

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) November 16, 2010

UWHARRIE CAPITAL CORP

(Exact name of Registrant as specified in charter)

North Carolina	000-22062	56-1814206
(State or other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No)

132 North First Street Albemarle, North Carolina	28001
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code 704-983-6181

N/A

(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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On November 16, 2010, Uwharrie Capital Corp (the “Registrant”) announced financial results for the quarter ended September 30, 2010. The Registrant reported unaudited earnings of $336 thousand available to common shareholders for the three months compared to $130 thousand for the same period in 2009.

For the nine months ended September 30, 2010 the Registrant’s net income available to shareholders was $883 thousand compared to $1.3 million for the same period of 2009.

A copy of the press release (the “Press Release”) announcing the Registrant’s results is attached as Exhibit 99.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated November 16, 2010 regarding the “Registrants” results of operations for quarter ended September 30, 2010.

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).

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 hereunto duly authorized.

UWHARRIE CAPITAL CORP
By:	/s/ Robert O. Bratton
	Robert O. Bratton
	Principal Financial Officer

Dated: November 16, 2010

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press release dated November 16, 2010

EX-99.1

Exhibit 99.1

NEWS RELEASE

ALBEMARLE, N.C. – Uwharrie Capital Corp, parent Company for Bank of Stanly, Anson Bank and Trust and Cabarrus Bank and Trust, reported earnings of $497 thousand during third quarter of 2010 compared to $290 thousand in the same period last year. This is particularly noteworthy considering the Company prudently expensed additional reserves to its loan loss provision due to changes to our risk assessment model during the quarter ended September 30, 2010. For the nine months ending September 30, 2010, earnings were $1.367 million compared to $1.818 million for the first nine months of 2009. Net income available to shareholders at the end of the current quarter was $336 thousand compared to $130 thousand for the quarter ended September 30, 2009. Net income available to shareholders for the first nine months of 2010 was $883 thousand compared to $1.3 million for the first nine months of 2009.

Total assets ended the quarter at $529 million, up from $477 million, December 31, 2009, representing 10.8%, or $51.5 million growth in assets. Core banking activities remain strong with growth in local loans for the quarter of $13.0 million and growth in local deposits of $15.7 million. For the nine months ended September 30, 2010, loans increased $32.1 million and deposits grew $48.8 million.

Roger L. Dick, Chief Executive Officer, said “Uwharrie Capital Corp and its subsidiary banks are having a good year despite the challenges and uncertainties of the current economic environment. Both net interest income and non-interest income continue to improve while expenses have remained relatively flat. We have been blessed to have the confidence of our communities and we continue to show profitability quarter after quarter, year after year. Our balance sheet continues to reflect strong growth that allows us to remain focused on building long-standing relationships, providing personal service to our customers and supporting our communities.”

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NEWS RELEASE