Uwharrie Capital reports H1 2021 net income of $6.2M, EPS $0.84, up 221% YoY; assets up 13%

UWHARRIE CAPITAL CORP

2021-Q2 EPS reported $0.84

Net income available to common shareholders $5.9M in H1 2021, +258% from $1.6M in H1 2020.
Earnings per share $0.84 vs $0.23 in prior-year period.
Assets grew 12.98% to $845.3M at June 30, 2021 from $748.2M a year earlier.
Provision for loan losses declined sharply after $1.4M COVID-related increase in 2020.
Revenue growth driven by PPP loan forgiveness, low cost of funds, and higher mortgage/investment advisory income.

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