Uwharrie Capital Q1 net income to common $1.8M, EPS $0.26 vs $0.09, total assets $1.05B

UWHARRIE CAPITAL CORP

2023-Q1 EPS reported $0.26

Net income available to common $1.8M ($0.26 EPS) in Q1 2023 vs $662K ($0.09 EPS) in Q1 2022.
Total assets $1.05B as of Mar 31, 2023, up $72M from prior year; loan growth 13.7% YoY.
Loan-to-deposit ratio ~54%, reflecting conservative balance sheet management.
Adopted CECL, reducing retained earnings by $1.9M and doubling allowance for credit losses.
Company emphasizes experienced risk management and compliance with banking regulations.

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 0.9

UWHARRIE CAPITAL CORP reported the first three months of 2023 results: net income $2.0 million, EPS $0.26 per share.

Period: the first three months of 2023
Net income: $2.0 million
EPS: $0.26 per share
Result: reported results

Exact text from the filing

Net income for the first three months of 2023 was $2.0 million, as compared to $801 thousand for the same three-month period in 2022. This equates to $1.8 million in net income available to common shareholders, or $0.26 per share

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Source: SEC EDGAR

accession 0001564590-23-007401

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