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) March 31, 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, management announced unaudited results of $1.4 million in net income for the year ended December 31, 2010. After receiving updated appraisals on certain commercial properties, management has made a decision to make additional provisions for loan loss reserves resulting in reported final Net Income for 2010 of $713,000.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated March 31, 2011 regarding the “Registrants” audited 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/ Roger L. Dick
	Roger L. Dick
	President and Chief Executive Officer

Dated: April 1, 2011

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press release dated March 31, 2011

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

From:	Christy Stoner
	Uwharrie Capital Corp
	704-991-1138
Date:	March 31, 2011

Uwharrie Capital Corp Announces 2010 Audited Results and New Capital Raised

Albemarle - Uwharrie Capital Corp (UCC), parent company of Bank of Stanly, Anson Bank & Trust and Cabarrus Bank & Trust, filed its annual report on form 10-K with the Securities and Exchange Commission for the year ended December 31, 2010.

On February 10, 2011, management announced unaudited results of $1.4 million in net income for the year ended December 31, 2010. After receiving updated appraisals on certain commercial properties, management has made a decision to make additional provisions for loan loss reserves resulting in reported final Net Income for 2010 of $713,000. In addition, management has added $3.5 million in new capital in the form of subordinated debentures, which increases UCC’s consolidated risk based capital ratio from 14% at December 31, 2010 to approximately 15% at March 31, 2011.

For a complete analysis of the 2010 audited operating results, please visit our website www.uwharriecaptialcorp.com ; click on “other SEC filings” and then 10-K.

This press release contains, 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 UCC’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 UCC’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 UCC’s control).

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