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) October 16, 2013

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 1.01 Entry Into A Material Definitive Agreement

On October 16, 2013, Uwharrie Capital Corp, parent company of Uwharrie Bank (formally Bank of Stanly, Anson Bank & Trust, and Cabarrus Bank & Trust), is pleased to announce they have fully repaid all $10 million of their Fixed Rate Cumulative Perpetual Preferred Stock, Series A, originally issued in 2008 to the U.S. Department of the Treasury under the Troubled Asset Relief Program (TARP), at par.

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).

Item 8.01 Other Items

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated October 16, 2013 announcing Uwharrie Capital Corp’s final repayment to the United States Department of Treasury

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/ R. David Beaver, III
	R. David Beaver, III
	Chief Financial Officer

Dated: October 16, 2013

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press release dated October 16, 2013

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

From: Uwharrie Capital Corp

Date: October 16, 2013

Albemarle, NC - Uwharrie Capital Corp has fully repaid all $10 million of their TARP funds at par that they originally received in 2008.

The parent company of Uwharrie Bank (formally Bank of Stanly, Anson Bank & Trust, and Cabarrus Bank & Trust), announced today that they have successfully completed the repayment of the Fixed Rate Cumulative Perpetual Preferred Stock, Series A originally issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program (TARP).

In early 2008, the State Banking Commissioner of North Carolina encouraged all state chartered banks, if they qualified, to take the TARP funds. At the time, the Commissioner was concerned with the depth and severity of the pending economic crisis, and wanted to make sure that North Carolina state chartered banks had surplus capital. Uwharrie Capital was well capitalized and qualified for the TARP funds; therefore, management heeded the advice of the Commissioner.

The banking industry portion of the $700 billion TARP program was $250 billion, $245 billion of which was actually disbursed. As of October 16, 2013, the Treasury had been repaid $273 billion, with only $2.9 billion still outstanding. This numbers represent an 11.38% return on the taxpayer’s investment, even if the remaining $2.9 billion of bank TARP funds still outstanding are not repaid. Although the TARP program was very unpopular, the bank portion of this program served the purpose of stabilizing the financial industry and returning public confidence at a time of national financial crisis and panic.

Additional information on Uwharrie Capital Corp may be found at www.UwharrieCapitalCorp.com or by calling (704)-982-4415.

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