Parent Company Financial Data

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Company Financial Data

Note 17 - Parent Company Financial Data

The following is a summary of the condensed financial statements of Uwharrie Capital Corp:

Condensed Balance Sheets

	December 31,
	2024		2023
	(dollars in thousands)
Assets
Cash and demand deposits	$	102	$	141
Interest-earning deposits		4,549		5,221
Equity securities		334		302
Investments in:
Bank subsidiaries		71,165		62,409
Nonbank subsidiaries		911		706
Other assets		838		850
Total assets	$	77,899	$	69,629
Liabilities and shareholders’ equity
Master notes	$	1,414	$	1,379
Long term debt		29,161		29,104
Other liabilities		300		360
Total liabilities		30,875		30,843
Shareholders’ equity		47,024		38,786
Total liabilities and shareholders’ equity	$	77,899	$	69,629

Note 17 - Parent Company Financial Data (Continued)

Condensed Statements of Income

	2024			2023				2022
	(dollars in thousands)
Equity in undistributed earnings of subsidiaries	$	9,154		$	7,907			$	6,826
Dividends received from subsidiaries		2,000			2,000				2,750
Interest income		103			87				39
Other income		203			167				80
Interest expense		(1,386	)		(1,377	)			(1,359	)
Other operating expense		(497	)		(537	)			(440	)
Income tax benefit		331			349				353
Net income	$	9,908		$	8,596			$	8,249
Consolidated net income	$	9,908		$	8,596			$	8,249
Less: Net income attributable to noncontrolling interest		(566	)		(565	)			(565	)
Net income attributable to Uwharrie Capital Corp		9,342			8,031				7,684
Net income available to common shareholders	$	9,342		$	8,031			$	7,684
Net income per common share
Basic	$	1.30		$	1.09		$	$	1.04
Diluted	$	1.30		$	1.09		$	$	1.04
Weighted average shares outstanding
Basic		7,188,026			7,341,446				7,391,787
Diluted		7,188,026			7,341,446				7,391,787

Condensed Statements of Cash Flows

	2024			2023			2022
	(dollars in thousands)
Cash flows from operating activities
Net income	$	9,908		$	8,596		$	8,249
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(9,154	)		(7,907	)		(6,826	)
Realized/unrealized (gain) loss on equity securities		(32	)		(10	)		100
Amortization of debt issuance costs		77			77			77
(Increase) decrease in other assets		12			397			(307	)
Increase (decrease) in other liabilities		(60	)		(169	)		11
Net cash provided by operating activities		751			984			1,304
Cash flows from financing activities
Net increase (decrease) in master notes		35			335			(37	)
Net decrease in long-term debt		(20	)		(580	)		—
Repurchase of common stock, net		(1,467	)		(728	)		(451	)
Cash paid for fractional shares		(10	)		(9	)		(9	)
Net cash used by financing activities		(1,462	)		(982	)		(497	)
Net increase in cash and cash equivalents		(711	)		2			807
Cash and cash equivalents at beginning of year		5,362			5,360			4,553
Cash and cash equivalents at end of year	$	4,651		$	5,362		$	5,360