Uwharrie Capital Corp Reports Significant Profit Growth for Mid-2026
Uwharrie Capital Corp saw its net income surge to $7.1 million for the first half of 2026, a sharp increase from the $5.4 million recorded during the same period last year. The Albemarle-based financial institution also reported consolidated total assets reaching $1.22 billion as of June 30.
The bank’s performance for the second quarter alone yielded $3.9 million in net income, up from $2.8 million in the second quarter of 2025. Diluted earnings for common shareholders rose to $0.53 per share for the three-month period, compared to $0.37 per share a year prior. These figures account for preferred stock dividend obligations.
Financial gains this quarter were bolstered by two specific non-recurring events. The company recognized an $850,000 gain from its participation in the 2026 Visa Exchange Offer Program, alongside a $424,000 reversal of credit loss reserves under the CECL accounting model. When stripping away these items, the underlying business maintained steady net interest income and consistent growth in customer relationships, supported by strong asset quality throughout the first half of the year.
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