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) February 10, 2011

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 February 10, 2011, Uwharrie Capital Corp (the “Registrant”) announced financial results for the twelve month period ended December 31, 2010. The Registrant reported net income of $1.4 million, an increase of $702 thousand compared to the prior year. Net income available to common shareholders was $747 thousand or $0.10 per common share in 2010 compared to $48 thousand or $0.01 per common share for 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 February 10, 2011 regarding the “Registrants” results of operations for twelve months ended December 31, 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: February 10, 2011

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press release dated February 10, 2011

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

FROM:	Christy Stoner
	Uwharrie Capital Corp
	704-991-1138
DATE:	February 10, 2011

Uwharrie Capital Corp, parent company for Bank of Stanly, Anson Bank and Trust and Cabarrus Bank and Trust, reported net income for the year ended December 31, 2010 of $1.4 million, an increase of $702 thousand compared to the prior year. Net income available to common shareholders was $747 thousand or $0.10 per common share this year compared to $48 thousand or $0.01 per common share for 2009. Net income available to common shareholders reflects the payment of dividends on preferred stock issued by the Company.

Total assets at December 31, 2010 were $536.0 million, reflecting growth of $58.2 million during the year. Contributing to this growth was an increase of $34.0 million in loans held for investment and an increase of $20.1 million in securities available for sale. Growth in assets was supported by the increase in core customer deposits. Deposits totaled $434.0 million at year end 2010, reflecting a significant improvement of $57.3 million compared to the prior year. The strong balance sheet growth has allowed the banks to remain focused on building long-standing relationships, providing personal service to customers and supporting our communities.

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NEWS RELEASE