Item 2.02Results of Operations and Financial Condition

On April 27, 2023, Uwharrie Capital Corp (the "Registrant") announced financial results for the period ended March 31, 2023. The Registrant reported consolidated total assets of $1.05 billion at March 31, 2023 compared to $1.02 billion at December 31, 2022.

Net income for the three-month period ended March 31, 2023 was $2.0 million versus $801 thousand for the same period in 2022. For the three months ended March 31, 2023, net income available to common shareholders was $1.8 million, or $0.26 per share, compared to $662 thousand, or $0.09 per share, for March 31, 2022. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

A copy of the press release (the "Press Release") announcing the Registrant's 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 Registrant's 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 Registrant's management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrant's control).

Item 9.01Financial Statements and Exhibits

(c) Exhibits



Exhibit
Number                                    Description
99.1        Press Release dated April 27, 2023

104       Cover page interactive data file (embedded within the Inline XBRL document)

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