Uwharrie Capital issues $20M in subordinated notes for Tier 2 capital

UWHARRIE CAPITAL CORP

Issued $12M of 3.50% fixed-to-floating rate subordinated notes due 2031 (10-Year Notes).
Issued $8M of 4.00% fixed-to-floating rate subordinated notes due 2036 (15-Year Notes).
Notes are unsecured, subordinated obligations ranking junior to senior debt.
Proceeds to augment Uwharrie Bank capital, repurchase shares, and for general corporate purposes.
Notes structured to qualify as Tier 2 capital under bank regulatory guidelines.

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