Uwharrie reports gains in second quarter

July 24. Second-quarter net income at Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, climbed nearly 11 percent this year vs. last. For the three-month period ended June 30, the financial institution earned $660,000 compared to $596,000 for the same period in 2014, a 10.74 percent improvement.  Also for the second quarter of this year, net income available to common shareholders was $513,000 vs. $449,000 during the second quarter of 2014.

Consolidated total assets at June 30 of this year were $515.8 million vs. $518.5 million at year-end 2014.

Net income for the six month period ended June 30, 2015 was $1.3 million compared $1.1 million for the same period in 2014, a 18.18 percent improvement. For the six months ended June 30, 2015, net income available to common shareholders was $1 million, compared to $840,000 for the first half of 2014.

Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the company.