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 3, 2017

UWHARRIE CAPITAL CORP

(Exact name of Registrant as Specified in Its Charter)

North Carolina	000-22062	56-1814206
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS 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 (see General Instructions A.2. below):

☐ 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 2.02Results of Operations and Financial Condition

On February 3, 2017, Uwharrie Capital Corp (the “Registrant”) announced financial results for the year ended December 31, 2016. The Registrant reported consolidated total assets of $548.2 million at December 31, 2016.

Net income for the twelve-month period ended December 31, 2016, was $2.21 million versus $2.01 million for the same period in 2015, a 10% improvement. For the twelve months, ended December 31, 2016, net income available to common shareholders was $1.62 million or $0.23 per share compared to $1.42 million or $0.20 per share for December 31, 2015, a 14% improvement. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

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.

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 9.01Financial Statements and Exhibits

(d) Exhibits

Exhibit Number	Description
99.1	Press Release dated February 3, 2017 regarding the “Registrants” results of operations for the year ended December 31, 2016

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 thereunto duly authorized.

	Company Name
Date: February 3, 2017	By:	/s/ R. David Beaver, III
		R. David Beaver, III
		Principal Financial Officer

Exhibit Index

Exhibit Number	Description
99.1	Press release dated February 3, 2017

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

From: Nicole Williams

           Uwharrie Capital Corp

           704-991-1276

Date:  February 3, 2017

Albemarle – Uwharrie Capital Corp announced financial results for the year ended December 31, 2016.  The Company reported consolidated total assets of $548.2 million at December 31, 2016.  

Net income for the twelve-month period ended December 31, 2016, was $2.21 million versus $2.01 million for the same period in 2015, a 10% improvement.  For the twelve months, ended December 31, 2016, net income available to common shareholders was $1.62 million or $0.23 per share compared to $1.42 million or $0.20 per share for December 31, 2015, a 14% improvement. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

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