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) July 16, 2014
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) |
Registrants 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 July 16, 2014, Uwharrie Capital Corp (the Registrant) announced financial results for the quarter ended June 30, 2014. The Registrant reported consolidated total assets of $511 million at June 30, 2014.
Net income for the six month period ended June 30, 2014 was $1.1 million versus $919 thousand for the same period in 2013. For the six months ended June 30, 2014, net income available to common shareholders was $840 thousand or $0.12 per share compared to $476 thousand or $0.07 per share for June 30, 2013, a 76% improvement. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.
Net income for the three month period ended June 30, 2014 was $596 thousand versus $156 thousand for the same period in 2013. Three months ended June 30, 2014, net income available to common shareholders was $449 thousand or $0.06 per share versus a net loss of $23 thousand for the three months ended June 30, 2013.
A copy of the press release (the Press Release) announcing the Registrants results is attached as Exhibit 99.1 and incorporated by reference herein.
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 Registrants 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 Registrants management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrants control).
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit |
Description | |
99.1 | Press Release dated July 16, 2014 regarding the Registrants results of operations for the second quarter ended June 30, |
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 | ||
Principal Financial Officer |
Dated: July 16, 2014
EXHIBIT INDEX
Exhibit |
Description of Exhibit | |
99.1 | Press release dated July 16, 2014 |
Exhibit 99.1
Second Quarter 2014 - Earnings Release
FOR IMMEDIATE RELEASE
From: | Christy Stoner |
Uwharrie Capital Corp |
704-991-1138 |
Date: July 16, 2014
Albemarle - Uwharrie Capital Corp and its subsidiary bank, Uwharrie Bank reported consolidated total assets of $511 million at June 30, 2014 versus $517 million at December 31, 2013. Net income for the six month period ended June 30, 2014 was $1.1 million versus $919 thousand for the same period in 2013. For the six months ended June 30, 2014, net income available to common shareholders was $840 thousand or $0.12 per share compared to $476 thousand or $0.07 per share for June 30, 2013, a 76% improvement. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.
Net income for the three month period ended June 30, 2014 was $596 thousand versus $156 thousand for the same period in 2013. Three months ended June 30, 2014, net income available to common shareholders was $449 thousand or $0.06 per share versus a net loss of $23 thousand for the three months ended June 30, 2013.
Chester Lowder, Board of Directors Chairman commented, The Board of Directors is pleased to make this announcement. Our shareholders continue to show their support by doing business with us and referring their friends. This allows our Company to continue creating value and serving our communities well by empowering local people to control their economic destiny.
Contact David Beaver, Chief Financial Officer at 704-991-1266 for further information.
About Uwharrie Capital Corp
Uwharrie Capital Corp offers a full range of financial solutions through its subsidiaries: Uwharrie Bank, Strategic Investment Group and Strategic Investment Advisors. Additional information on Uwharrie Capital Corp may be found at www.UwharrieCapitalCorp.com or by calling 704-982-4415.
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