Uwharrie Capital Corp reported a total asset increase of $67.5 million, reaching $1.20 billion as of December 31, 2025, compared to $1.13 billion in the previous year. The company’s net income for the year was $11.4 million, a rise from $9.9 million in 2024, translating to earnings per share of $1.49, up from $1.26. The increase in profitability was attributed to a $2.9 million rise in net interest income, totaling $38.9 million, driven by a higher yield on interest-earning assets, which increased to 5.19% from 5.15%. Noninterest income also saw a significant boost, climbing 15.6% to $11.3 million, primarily due to increased mortgage banking income.
In terms of operational metrics, Uwharrie Capital experienced a 4.9% growth in customer deposits, which rose from $1.03 billion to $1.08 billion. The company’s loan portfolio also expanded, with loans held for investment increasing by $23.2 million, or 3.5%, to $689.6 million. The allowance for credit losses on loans increased to $6.4 million, representing 0.93% of total loans held for investment, up from 0.87% the previous year. The company reported a slight increase in nonaccrual loans, which rose to $378,000 from $192,000 in 2024.
Strategically, Uwharrie Capital has focused on enhancing its technological capabilities and expanding its service offerings. The company continues to invest in its infrastructure to adapt to the evolving financial services landscape. As of December 31, 2025, the company employed 176 full-time and 23 part-time employees, reflecting its commitment to maintaining a workforce sensitive to customer needs. The company also repurchased 110,939 shares of common stock during the year, totaling $1.1 million, as part of its stock repurchase program.
Looking ahead, Uwharrie Capital Corp remains optimistic about its growth trajectory, expecting to continue exceeding regulatory capital requirements without altering its current operations or strategy. The company is well-capitalized, with a total risk-based capital ratio of 15.16% and a Tier 1 capital ratio of 14.35% as of December 31, 2025. Management is closely monitoring economic conditions and market trends to navigate potential challenges while leveraging its community-oriented banking model to enhance customer engagement and service delivery.
About UWHARRIE CAPITAL CORP
Uwharrie Capital Corp is a North Carolina bank holding company that owns and operates Uwharrie Bank, a community-focused commercial bank serving local markets. It offers traditional banking services, including personal and business accounts, loans, and digital banking. The company also owns subsidiaries in insurance, securities, and mortgage brokerage, emphasizing local economic development, technological innovation, and regulatory compliance within a competitive financial landscape.
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