Uwharrie Capital reports 9-month net income $5.3M ($0.69/share), down 40% from prior year

UWHARRIE CAPITAL CORP

2022-Q3 EPS reported $0.69

Net income for first nine months of 2022 was $5.3M ($0.69 per share), compared to $8.9M ($1.14) in 2021.
Mortgage banking income declined sharply due to rising rates; $1.4M recovery from loan loss reserve.
Total assets reached $1.04B, up $118M YoY; loan growth ex-PPP was 16%.
Book value per share fell to $3.07 from $7.02 due to $34.1M AOCI unrealized loss on AFS securities.
Board declared a 2.5% stock dividend, payable Nov 22 to holders of record Nov 8, 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UWHARRIE CAPITAL CORP reported first nine months of 2022 results: net income $5.3 million, EPS $0.69 per share.

Period: first nine months of 2022
Net income: $5.3 million
EPS: $0.69 per share
Result: reported results

Exact text from the filing

Net income for the first nine months of 2022 was $5.3 million, as compared to $8.9 million for the same nine- month period in 2021. This equates to $4.9 million in net income available to common shareholders, or $0.69 per share, compared to $8.4 million in net income available to common shareholders, or $1.14 per share, that we reported in 2021 for the same period.

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Source: SEC EDGAR

accession 0001564590-22-037828

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