Uwharrie Capital Q1 net income drops to $801K from $4.6M; mortgage production slows

UWHARRIE CAPITAL CORP

2022-Q1 EPS reported $0.10

Net income available to common shareholders $662K ($0.10 EPS) vs $4.4M ($0.61 EPS) YoY.
Total assets reached $974M, up 17% from $833M a year ago.
Deposits increased $139M since March 31, 2021.
Mortgage division production slowed substantially due to rising long-term interest rates.
Plans to strengthen diversification of revenue streams for long-term sustainability.

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