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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income    
Loans, including fees $ 6,367 $ 5,107
Investment securities    
Investment securities, taxable 2,492 1,015
Investment securities, non-taxable 370 358
Equity Securities 5 5
Interest-earning deposits with banks and federal funds sold 1,070 40
Total interest income 10,304 6,525
Interest Expense    
Interest checking and money market accounts 1,422 113
Savings deposits 80 18
Time deposits, $250,000 and over 296 14
Other time deposits 318 32
Short-term borrowed funds 9 1
Long-term debt 334 336
Total interest expense 2,459 514
Net interest income 7,845 6,011
Provision for credit losses 284 118
Net interest income after provision for credit losses 7,561 5,893
Noninterest Income    
Service charges on deposit accounts 249 243
Other service fees and commissions 889 901
Interchange and card transaction fees, net 304 238
Loss on sale of securities (51) (91)
Realized/unrealized gain (loss) on equity securities 34 (9)
Income from mortgage banking 694 1,267
Supplemental executive retirement plan loss (335) (48)
Other income 198 128
Total noninterest income 1,982 2,629
Noninterest Expense    
Salaries and employee benefits 4,744 5,016
Net occupancy expense 453 425
Equipment expense 188 188
Data processing costs 204 212
Loan costs 93 169
Professional fees and services 258 212
Marketing and donations 382 334
Electronic banking expense 129 111
Software amortization and maintenance 307 311
FDIC insurance 117 62
Supplemental executive retirement plan loss (335) (48)
Other noninterest expense 578 561
Total noninterest expense 7,118 7,553
Income before income taxes 2,425 969
Income taxes 471 168
Net income 1,954 801
Less: net income attributable to noncontrolling interest (139) (139)
Net income attributable to Uwharrie Capital Corp and common shareholders $ 1,815 $ 662
Net income per common share    
Basic $ 0.26 $ 0.09
Diluted $ 0.26 $ 0.09
Weighted average shares outstanding    
Basic 7,075,125 7,125,760
Diluted 7,075,125 7,125,760