Current Report Filing (8-k)
October 19 2016 - 12:28PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 18, 2016
UWHARRIE CAPITAL CORP
(Exact name of Registrant as specified in charter)
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North Carolina
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000-22062
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56-1814206
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(State or other Jurisdiction
of Incorporation
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(Commission
File No.)
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(I.R.S. Employer
Identification No)
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132 North First Street
Albemarle, North Carolina
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28001
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrants telephone number, including area code 704-983-6181
N/A
(Former Name or former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02
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Results of Operations and Financial Condition
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On October 19, 2016, Uwharrie Capital Corp (the
Registrant) announced financial results for the three and nine months ended September 30, 2016. The Registrant reported consolidated total assets of $552.2 million at September 30, 2016.
Net income for the nine-month period ended September 30, 2016, was $1.8 million versus $1.9 million for the same period in 2015. For the nine months,
ended September 30, 2016, net income available to common shareholders was $1.3 million or $0.19 per share compared to $1.4 million or $0.20 per share for September 30, 2015. Net income available to common shareholders takes into
consideration the payment of dividends on preferred stock issued by the Company. The difference in earnings for the nine-month period ending September 30, 2016 versus the same period ending 2015 reflects the additional allowance for loan and
lease loss provision associated with the strong growth in the loan portfolio.
Net income for the three-month period ended September 30, 2016, was
$540 thousand versus $561 thousand for the same period in 2015. For the three months, ended September 30, 2016, net income available to common shareholders was $391 thousand or $0.06 per share compared to $412 thousand or $0.06 per share
for September 30, 2015.
The Board of Directors of Uwharrie Capital Corp (the Registrant) has declared
a 2% stock dividend to be paid November 23, 2016 to shareholders of record as of November 9, 2016.
A copy of the press release (the Press
Release) announcing the Registrants results is attached as Exhibit 99.1 and incorporated by reference herein.
This Current Report on Form 8-K
(including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation,
(i) statements regarding certain of the Registrants goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including
statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words may, could, should, would, believe,
anticipate, estimate, expect, intend, plan, projects, outlook or similar expressions. These statements are based upon the current belief and expectations of the
Registrants management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrants control).
A copy of the press release (the Press Release) announcing the Registrants results is
Item 9.01
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Financial Statements and Exhibits
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Exhibit No.
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Description
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99.1
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Press Release dated October 19, 2016 regarding the Registrants results of operations for the three and nine months ended September 30, 2016 and declaration of a 2% stock dividend.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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UWHARRIE CAPITAL CORP
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By:
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/s/ R. David Beaver, III
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R. David Beaver, III
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Principal Financial Officer
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Dated: October 19, 2016
EXHIBIT INDEX
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Exhibit
Number
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Description of Exhibit
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99.1
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Press release dated October 19, 2016
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