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2014 SUMMARY ANNUAL REPORT
LETTER TO SHAREHOLDERS
Dear Shareholders:
Your Company moved forward emphatically in 2014 – our best year from an earnings perspective since 2008. Net income
was $1.7 million as compared to $954 thousand for the prior year. Continued improvement in credit quality plus the benefits
and efficiencies gained from the consolidation of our three bank charters, along with other actions taken, enabled these
results. Earnings available to shareholders were up 621% over 2013 and earnings per share after preferred dividends rose to
$0.15 per share from $0.02 per share. This accomplishment was not without adversity.
The Banking Environment
The banking environment remained challenged in 2014 despite the headlines declaring that unemployment is closer to
government targets, or the stock market is breaking new highs, or the U.S. economy is outpacing all other world economies.
In truth, the banking industry is grasping for profitability under the burden of a host of new regulations and associated
compliance expenses, anemic loan demand and margin pressure from the low interest rate environment.
The unprecedented regulatory burden is particularly acute for smaller community banks less capable of absorbing the
immoderate administrative costs due to scale of operations. This fact is one reason your Company consolidated its three
banks in 2013. The consolidation allowed us to be in a better position to absorb the increased costs of doing business.
However, we can expect additional regulatory costs to be placed on the industry as much of the mandates of the Dodd-
Frank legislation have yet to be implemented and new Consumer Financial Protection Bureau (CFPB) directives are super-
imposed on current regulations.
Implementing Our Plan
Every business must have capital, especially banks by regulation. In order to retain and attract capital, investors must be
fairly rewarded. We firmly espouse that a commitment to the communities we serve is in the best interests not only of the
community, but also our investors. We have lived by our values that a bank does what counts. To us, that means making a
difference. We believe businesses that do what is right for their customers create value for them and, by extension, for their
shareholders. By inspiring to lift our communities in return for trusting us with their financial resources differentiates your
Company in a most meaningful way. We seek to motivate change, to meet our collective challenges head on and make
our world better. If we do, there will be prosperity to share. This is why we say we do not put profits before community.
For the past several years, we had to be reactionary in dealing with the freefall of the economy. Last year we reinvigorated
our efforts to move forward with deliberate speed even though the economy remained lackluster at best. Your manage-
ment and Boards of Directors completed a rigorous strategic planning process during 2014 that provides a strategy for not
only improved financial returns, but also renews our dedication to the Vision and Mission of Uwharrie Capital Corp. This
five-year plan charts our course as we continue on in our commitment to create a financial services company dedicated to
excellence in empowering communities of people to secure financial self-sufficiency.
We have been thoughtful about our efforts, looking at everything from credit culture to customer service. We realigned
parts of our Company to better serve particular market segments which are extremely valuable to our Company and are
defined by high customer expectations and specific expertise required to substantially differentiate ourselves from our
competition.
1
While interest income remains our main revenue contributor, our longer-term strategy is to continue to invest in products
and services that differentiate us in the market and are not margin dependent. We have developed a challenging but
achievable five-year plan for expanding our fee-based product offerings, primarily mortgage and wealth management,
within our current footprint and outside our traditional markets. We have added additional leadership in the mortgage
banking area and will be marketing our services as “Uwharrie Bank Mortgage” within our current markets and expanding
into Mecklenburg, Union and other surrounding counties. Sometime mid-year, our wealth management group will begin
using the name “Uwharrie Investment Advisors.” The brand consistency of “Uwharrie” across all business units will create
synergies and improve brand recognition.
Moving Forward
We have a clear vision for Uwharrie Capital Corp and we will continue to focus on the long-term growth and health of our
Company. To better assist us in communicating this, we have modified our Vision, Mission and Core Values to be more suc-
cinct as we continue to deliver superior long-term performance for our customers, our shareholders, our associates and the
communities we serve. To learn more, we encourage you to visit uwharrie.com/AboutUs.
We invite you to attend our Annual Meeting of Shareholders on Tuesday, May 12th, where you will hear more about our
results, our plans and an exciting unveiling! Thank you for your continued support. And thank you to our dedicated associ-
ates and directors who diligently strive to ensure that Uwharrie Capital Corp remains strong and successful.
2
Roger L. DickPresident and Chief Executive Officer
Brendan P. DuffeyChief Operating Officer
(1) Net income per share, book value per share, weighted average shares outstanding and shares outstanding at
year-end for years 2013 through 2010 have been adjusted to reflect the 2% stock dividend in 2014.
SELECTED FINANCIAL DATA
SUMMARY OF OPERATIONS
Interest income
Interest expense
Net interest income
Provision for (recovery of) loan losses
Noninterest income
Noninterest expense
Income taxes
Net income
PER COMMON SHARE
Net income (loss) - basic (1)
Net income (loss) - diluted (1)
Book value (1)
SELECTED YEAR-END BALANCES
Assets
Loans held for investment
Securities
Deposits
Borrowed funds
Shareholders’ equity
2014
$ 18,457
1,960
16,497
7,321
21,880
648
$ 1,679
$ 0.15
0.15
4.55
$ 518,464
310,853
118,320
456,435
14,243
42,262
(389)
2013
$ 19,465
2,734
16,731
28
7,587
22,994
342
$ 954
$ 0.02
0.02
3.94
$ 517,320
307,348
100,280
453,708
16,672
40,509
2012
$ 21,871
3,698
18,173
1,832
10,675
26,247
365
$ 404
$
4.23
$ 545,007
329,183
91,638
457,612
31,363
42,729
2011
$ 23,822
4,737
19,085
3,456
8,256
22,789
196
$ 900
$ 0.03
0.03
4.38
$ 526,902
366,675
88,661
431,338
46,024
44,254
2010
$ 24,487
5,951
18,536
4,919
9,898
22,651
151
$ 713
$ 0.01
0.01
4.29
$ 535,426
387,769
96,395
434,033
54,543
43,493
3
SERVE.Make a difference through service.
(in thousands except per share and shares outstanding information)
(0.03)
(0.03)
UWHARRIE CAPITAL CORP BOARD OF DIRECTORS
CHAIRMAN OF THE BOARDW. Chester LowderDirector of Livestock Program, Public Policy DivisionNorth Carolina Farm Bureau Federation, Inc.
VICE CHAIRMAN OF THE BOARDJoe S. BrooksOwner / Manager Brothers Precision Tool Co.
W. Stephen Aldridge, III, Ph.D. President / Funeral Director Stanly Funeral Home, Inc.
Nadine B. BowersSenior Vice President (Retired)Strategic Investment Advisors, Inc.and Bank of Stanly Ronald T. BurlesonPartnerThurman Burleson & Sons Farm
Bill C. Burnside, D.D.SGeneral Dentist (Retired)
Raymond R. Cranford, Jr.Owner / Vice President of SalesCrook Motor Co., Inc.
Charles F. Geschickter, IIIPresident / CEOJTG Racing, Inc. ST Motorsports, Inc.
Thomas M. Hearne, Jr.Geopavement Engineer (Retired)NC Department of Transportation
Charles D. HornePresidentHornwood, Inc.
W. Kenneth HuntleyPresidentHuntley Oil & Gas Co., Inc.
Lee Roy Lookabill, Jr.PresidentAnson Real Estate and Insurance Co., Inc.
Barry S. MooseVice President / Operations & Maintenance DirectorSEPI Engineering & Construction Co.
Cynthia L. MynattPresidentBen Mynatt Buick-GMC
James E. NanceFounder / Managing Member North State Acquisitions, LLCNorth State Negotiations, LLC
S. Todd Swaringen PartnerBeane Swaringen & Company, PLLC
Edward B. Tyson, Ed.D.Superintendent (Retired)Kannapolis City Schools
Dusty W. WestPresident / OwnerDean’s Ready Mixed, Inc.
4
Our collective ability to be difference-makers in the communities where we work and live begins with
talented, dedicated leadership on our Boards of Directors. These men and women are local civic and business
leaders and generous volunteers. Bolstered by their enthusiasm and counsel, our people are empowered to
carry out Uwharrie Capital Corp’s mission: making a difference.
The members of these boards work to foster the long-term success of the Company and its subsidiaries.
As always, we’re thankful for each member’s time, energy and talents.
Roger L. Dick President / CEO Uwharrie Capital Corp CEO Uwharrie Bank
Brendan P. DuffeyChief Operating OfficerUwharrie Capital CorpPresidentUwharrie Bank
D. Anthony PlathAssociate Professor of FinanceUniversity of North Carolina at Charlotte
ADVISORY DIRECTORS
UWHARRIE BANK BOARD OF DIRECTORS
CHAIRMAN OF THE BOARDW. Chester LowderDirector of Livestock Program, Public Policy DivisionNorth Carolina Farm Bureau Federation, Inc.
VICE CHAIRMAN OF THE BOARDJoe S. BrooksOwner / ManagerBrothers Precision Tool Co.
Nadine B. BowersSenior Vice President (Retired)Strategic Investment Advisors, Inc.and Bank of Stanly
James O. CampbellChannel Sales ManagerViewpoint Construction Software
Roger L. DickPresident / CEO Uwharrie Capital CorpCEOUwharrie Bank
Tara G. EudyPresident / Treasurer Carolina Title Company, Inc.
Charles D. HornePresidentHornwood, Inc.
Harvey H. Leavitt, IIIOwner / OperatorLeavitt Funeral Home
Samuel M. LederCPA / PartnerPotter & Company, P.A.
Frank A. Rankin, IIIPresident / OwnerConcord Engineering & Surveying, Inc.
John B. RobbinsPresident / OwnerGreathorn Properties, Inc.
S. Todd SwaringenPartner Beane Swaringen & Company, PLLC
5
Be generous with your time and energy.
GIVE.
CABARRUS COMMUNITY BOARD
COMMUNITY BOARDS
6
Darrell E. AlmondStanly Fixtures Co., Inc. (Retired)
Eric M. Johnsen, M.D.President / PhysicianStanly Family Care Clinic
Garry M. LewisPublic Housing Director (Retired)City of Albemarle
James F. LinkVeterinarian / OwnerNorth Stanly Animal Clinic
Joyce H. LittleVice PresidentWiley Little Drywall, Inc.
Eric J. Mallico, M.D. General SurgeonNovant HealthRowan Medical Center
Terry L. SmithPresidentTerry L. Smith Construction Co., Inc.
Patsy G. StreetManager (Retired)West Stanly Christian Ministries
David L. VanDeventerGolf Professional / Club ManagerPiney Point Golf Club
Anita A. BrownChancellor Emerita (Retired)Cabarrus College of Health Sciences; Carolinas Medical Center NorthEast
Gayle W. DealDirector of Enterprise RelationsCarolinas HealthCare System
William C. DuschPresident / Co-OwnerTechnologies Edge, Inc.
Diane R. HoneycuttRealtor / Team LeaderTeam HoneycuttAllen Tate Realtors
James M. Monroe, Jr.Executive Director (Retired)Carolinas Medical Center NorthEast Foundation
J. Scott PadgettMayorCity of Concord
William E. RinkerPresident / OwnerRinker Commercial Properties, LLC
William F. Rogers, Jr.AttorneyWilliam F. Rogers, Jr., P.A.
Thomas W. HoughPresident (Retired)Anson Pharmacy, Inc.
Mary Carlisle LittleVice President / General ManagerH. W. Little & Co., Inc.
M. Todd Moore Marketing RepresentativePee Dee Electric Membership Corporation
Emmett S. PattersonGeneral Manager / Executive Vice President (Retired)Pee Dee Electric Membership Corporation
Christopher M. SanfordVice President / General ManagerWadesboro IGA Foodliner
Donald P. ScarboroughPresident / BrokerPlank Road Realty, Inc.
Jim L. StrayhornPresident / CEO (Retired)Anson Bank & Trust Co.
Kevin W. ThomasVice PresidentLynn Thomas Grading, Inc.
ANSON COMMUNITY BOARD
STANLY COMMUNITY BOARD
FINANCIAL REVIEW
7
Uwharrie Capital Corp reported net income of $1.7 million for the twelve
months ended December 31, 2014, as compared to $954 thousand for the
twelve months ended December 31, 2013, an increase of $725 thousand or
76%. Net income available to common shareholders was $1.1 million or $0.15
per common share for the 12 months ended December 31, 2014, compared
to net income available to common shareholders of $151 thousand or $0.02
per common share for the 12 months ended December 31, 2013, a 620.5%
improvement. Net income available to common shareholders is net income
less any dividends and discount accretions on preferred stock. Uwharrie
paid $591 thousand in dividends to its preferred shareholders during 2014
and $803 thousand in 2013. The Company’s total assets increased by $1.2
million or 0.22%, from $517.3 million at December 31, 2013 to $518.5 million at
December 31, 2014.
Provision for loan losses, which has a significant impact on earnings, decreased
from $28 thousand in 2013 to a recovery of ($389) thousand in 2014. The level
of net loan charge-offs decreased from $1.7 million in 2013 to $968 thousand
in 2014, an improvement of $765 thousand or 44.2%. With the reduction in
provision for loan losses accompanied by net charge-offs, the allowance for
loan loss declined from $5.1 million at December 31, 2013, to $3.7 million at
December 31, 2014. This represents 1.20% of loans held for investment as of
December 31, 2014. Loans held for investment as of December 31, 2014, were
$310.9 million. This constitutes a $3.5 million increase or 1.1% loan growth
compared to 2013. Management believes the current level of the allowance
for loan losses is appropriate in light of the credit risk inherent in the current
loan portfolio.
Net interest income remained relatively flat when comparing the two periods,
reflecting $16.5 million in the current year compared to $16.7 million in the
prior year. While the Company generates most of its revenue from net interest
margin, diversification of our earnings base is significant to our long-term
success. Income from service charges, commissions, and fees increased from
$5.0 million in 2013 to $5.4 million in 2014. However, income from mortgage
loan sales produced income of $1.0 million in 2014, compared to $2.1 million in
2013 as refinance activity tapered significantly and new production remained
stagnant. Losses realized on the sale of investments were ($2) thousand
compared to realized losses of ($523) thousand for the prior year.
ASSETS UNDER MANAGEMENT(in thousands)
2010 2011 2012 2013 2014
200,000
150,000
100,000
50,000
-
GROWTH IN ASSETS(dollars in millions)
2010 2011 2012 2013 2014
600
500
400
300
200
100
-
GROSS LOANS(in thousands)
2010 2011 2012 2013 2014
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
-
FINANCIAL REVIEW
At December 31, 2014, customer deposits totaled $456.4 million, an increase of
$2.7 million compared to $453.7 million at December 31, 2013. During this period
borrowed funds decreased from $16.7 million at the end of the prior year to $14.2
million at the end of 2014, a difference of $2.5 million or 14.6%.
Noninterest expense for the year ended December 31, 2014 was $21.9 million
compared to $23.0 million for the same period of 2013, a decrease of $1.1 million.
Salaries and employee benefits, the largest component of noninterest expense,
decreased $372 thousand, from $12.4 million for the period ending December 31,
2013, to $12.1 million for the current year. The reduction in salaries and benefits
primarily reflects the efficiency realized by the merger of the three subsidiary
banks after the effect of increased costs due to new regulations. Foreclosed real
estate expense decreased $401 thousand during 2014. The primary driver behind
this decrease was the decrease in write-downs on other real estate owned. Total
write-downs for 2014 were $593 thousand compared to $1.0 million for 2013, a
decrease of 40.7%.
The Company continues to maintain a strong capital position. At December 31,
2014, total shareholders’ equity was $42.3 million, a $1.8 million improvement
or 4.3% over December 31, 2013, which was $40.5 million. All capital ratios are
above those of a well-capitalized bank as defined by our regulators.
8
TOTAL DEPOSITS(in thousands)
2010 2011 2012 2013 2014
500,000
450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
-
SHAREHOLDERS’ EQUITY(dollars in millions)
2010 2011 2012 2013 2014
50
45
40
35
30
25
20
15
10
5
-
9
To the Shareholders and Board of Directors:
Uwharrie Capital Corp
Albemarle, North Carolina
We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
the consolidated balance sheets of Uwharrie Capital Corp and Subsidiaries as of December 31, 2014 and 2013, and the
related consolidated statements of income, comprehensive income, changes in shareholders’ equity and cash flows
for each of the years in the three-year period ended December 31, 2014 (not presented herein); and in our report dated
February 27, 2015, we expressed an unqualified opinion on those consolidated financial statements. The accompanying
condensed consolidated financial statements are the responsibility of the Company’s management. Our responsibility
is to express an opinion on the information set forth in the condensed consolidated financial statements in relation to
the consolidated financial statements from which it has been derived.
In our opinion, the information set forth in the accompanying condensed consolidated balance sheets as of December 31,
2014 and 2013, and the related condensed consolidated statements of income for each of the years in the three-year
period ended December 31, 2014, is fairly stated, in all material respects, in relation to the consolidated financial state-
ments from which it has been derived.
Asheville, North Carolina
February 27, 2015
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TEACH.Improve our community through financial education.
10
CONSOLIDATED BALANCE SHEETS
ASSETSCash and due from banks $ 6,807 $ 7,947Interest-earning deposits with banks 43,984 64,447Securities available for sale, at fair value 112,824 100,280Securities held to maturity, at amortized cost (fair value $5,450,000) 5,496 -Loans held for sale 2,147 1,139Loans: Loans held for investment 310,853 307,348 Less allowance for loan losses Net loans held for investment 307,115 302,253Premises and equipment, net 14,858 13,781Interest receivable 1,747 1,747Restricted stock 1,038 1,184Bank owned life insurance 6,645 6,516Other real estate owned 5,865 7,170Prepaid assets 969 490Other assets 8,969 10,366 Total assets $ 518,464 $ 517,320
LIABILITIESDeposits: Demand noninterest-bearing $ 80,069 $ 74,493 Interest checking and money market accounts 243,116 228,933 Savings deposits 39,091 41,512 Time deposits, $100,000 and over 38,912 44,690 Other time deposits 55,247 64,080 Total deposits 456,435 453,708Short-term borrowed funds 4,685 5,509Long-term debt 9,558 11,163Interest payable 180 224Other liabilities 4,783 4,491 Total liabilities 475,641 475,095
Off balance sheet items, commitments and contingencies (Note 13) Redeemable common stock held by the Employee Stock Ownership Plan (ESOP) (Note 17) 561 1,716
SHAREHOLDERS’ EQUITYCommon stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 6,961,484 and 7,445,931 8,702 9,307 Additional paid-in capital 11,712 11,922Unearned ESOP compensation - Undivided profits 10,974 10,289Accumulated other comprehensive income (loss) 305 Total Uwharrie Capital shareholders’ equity 31,693 29,967Noncontrolling interest 10,569 10,542 Total shareholders’ equity 42,262 40,509 Total liabilities and shareholders’ equity $ 518,464 $ 517,320
The accompanying notes are an integral part of the consolidated financial statements.
2014 2013
(dollarsinthousands)
GUIDE. Lead others to self-sufficiency.
December 31, 2014 and 2013
(3,738) (5,095)
(989)
(562)
11
CONSOLIDATED STATEMENTS OF INCOME
INTEREST INCOME Loans, including fees $ 16,336 $ 17,573 $ 19,724 Investment securities: US Treasury 361 397 581 US Government agencies and corporations 1,271 1,066 1,105 State and political subdivisions 321 252 324 Interest-earning deposits with banks and federal funds sold 168 177 137 Total interest income 18,457 19,465 21,871
INTEREST EXPENSES Interest checking and money market accounts 299 439 542 Savings deposits 57 171 197 Time deposits $100,000 and over 471 592 802 Other time deposits 526 708 1,008 Short-term borrowed funds 34 160 353 Long-term debt 573 664 796 Total interest expense 1,960 2,734 3,698 Net interest income 16,497 16,731 18,173
PROVISION FOR (RECOVERY OF) LOAN LOSSES Net interest income after provision for loan losses 16,886 16,703 16,341
NONINTEREST INCOME Service charges on deposit accounts 1,467 1,627 1,723 Other service fees and commissions 3,928 3,399 3,178 Gain (loss) on sale of securities (includes reclassification of ($2,000) and ($523,000) from accumulated comprehensive income) 1,286 Income from mortgage loan sales 1,001 2,113 3,740 Other income 927 971 748 Total noninterest income 7,321 7,587 10,675
INTEREST INCOME Salaries and employee benefits 12,051 12,423 12,891 Net occupancy expense 1,107 1,098 1,155 Equipment expense 680 734 733 Data processing costs 729 784 889 Office supplies and printing 273 358 334 Foreclosed real estate expense 1,246 1,647 2,994 Professional fees and services 847 680 588 Marketing and donations 762 728 691 Electronic banking expense 939 999 951 Software amortization and maintenance 535 541 576 FDIC insurance 425 518 693 Goodwill Impairment - - 987 Other noninterest expense 2,286 2,484 2,765 Total noninterest expense 21,880 22,994 26,247 Income before income taxes 2,327 1,296 769 Income taxes (includes reclassification of ($1,000 and $202,000) from accumulated other comprehensive income, respectively) 648 342 365
NET INCOME $ 1,679 $ 954 $ 404
Consolidated net income $ 1,679 $ 954 $ 404Less: Net income attributable to noncontrolling interest -Net income attributable to Uwharrie Capital Corp 1,088 476 404Dividends on preferred stock - Net Income (loss) available to common shareholders $ 1,088 $ 151 $ Net income (loss) per common share Basic $ 0.15 $ 0.02 $ Diluted $ 0.15 $ 0.02 $
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic 7,300,988 7,422,286 7,519,100 Diluted 7,300,988 7,422,286 7,519,100
The accompanying notes are an integral part of the consolidated financial statements.
2014 2013 2012
(dollarsinthousands,exceptshareandpersharedata)
GUIDE.
Years Ended December 31, 2014, 2013 and 2012
(389) 1,83228
(2) (523)
(591) (478)
(325) (645)(241)
(0.03)(0.03)
BETTY J. ALDERMAN
HEATHER H. ALMOND
KATHY H. ALMOND
JASON R. ANDREW
ANNIE S. AUSTIN
AMY Y. BARBEE
RONALD D. BARNES
JILL A. BARRIER
ANITRA C. BARRINGER
R. DAVID BEAVER III
DAYLE C. BEAVER
SARAH G. BIVINS
JENNIFER L. BLAKE
KASEY A. BLANKENSHIP
RONNIE D. BLANTON
REBECCA B. BOST
MELISSA T. BOWERS
ROBERT B. BRANNAN III
MISTY C. BROADWAY
W. GAYNELLE BROOKS
BARRY C. BRUMMITT
DEBBIE S. BURKETT
JOANNE B. BURLESON
B. DIANE BURRIS
CATHY M. BURRIS
JUDITH A. CAMP
ANITA F. CARPENTER
MICHELLE B. CARVER
BRANDIS T. CHEWNING
D. STARR CLONINGER
VICTORIA H. COGGINS
TRACY L. COLLIER
MARY A. COLLINS
GAYLE F. COMER
SHELIA B. COOK
ANNGENELL Y. COOKE
MELISSA L. CURLEE
DONALD M. DAVIS
CHERYL J. DEARMON
STEPHEN A. DENNING
ROGER L. DICK
BRENDAN P. DUFFEY
DONALD R. EDWARDS
DEBRA M. ERK
BRADLEY W. EUDY
BRANDON J. EUDY
KARI G. EUDY
KYLE V. EUDY
LESLIE T. EUDY
DUANE S. FAGG
MONTY L. FAST
ANNE R. FLYNN
TAMMIE D. FRALEY
MELISSA S. FREEMAN
DEBORAH G. FRICK
ELIZABETH G. GALYAN
YOSELINA J. GARCIA
E. NICOLE GARDIN
DAVID C. GASKIN
SUSAN B. GIBSON
M. CASEY GREENE
MATTHEW W. GREENE
CARIS H. HAHN
LINDA D. HARKEY
ALISA E. HARTSELL
E. TOM HARTSELL
MARY A. HARTSELL
MICHAEL G. HARWOOD
BETTY H. HASTY
JANIE S. HATLEY
TAMMY R. HELMS
ANITA C. HILL
JILLIAN E. HILLIARD
DEBORAH T. HINSON
JAN L. HOBBS
GERALD B. HONEYCUTT
NANCY J. HONEYCUTT
PATRICIA D. HORTON
MARTHA E. HUGHES
BRIAN A. INGOLD
WILLIESENIA A. INGRAM
RICHARD E. JAMES
JACQUELINE S. JERNIGAN
SONYA H. JOHNSON
CAROL H. JONES
MARK O. JONES
KATHRYN W. KLUTTZ
SUZETTE D. KLUTTZ
MITCHELL C. KNIGHTEN
W.D. “BILL” LAWHON
DARIA W. LEDBETTER
HOLLY F. LEE
CHARLIE W. LENTZ
CARRIE W. LISENBY
KIMBERLY C. LONG
KIMBERLY E. LOVE
AUDREY F. LOWDER
G. MARTY LOWDER
KELLY S. LOWDER
PATRICIA L. LOWDER
SHEILA M. LOWDER
TERESA G. LOWDER
TONYA M. LOWDER
RODRIGO M. LUEVANO
DANA A. MANESS
CHASITY E. MANUEL
J. MICHAEL MASSEY
ELSA E. MATA
JOHN P. MCINTYRE
CHRISTOPHER W. MELTON
DAWN L. MELTON
ASSOCIATES
The team at Uwharrie Capital Corp is better than it has ever been and these are the people who are
providing service that makes a difference in the lives of our customers. We’re proud of this group
and confident in our future. To each of our associates, we offer our sincere thanks.
12
LORELEI V. MISENHEIMER
JENNIFER B. MOREHEAD
CHARLES N. MYERS
LORRIE M. NANTZ
ROBIN E. NICOLAISEN
JOHNDA S. NOBLE
MISTY M. NORDAN
MARTHA W. O’BRIEN
JANNA H. PRESSLEY
TRENA B. PURVIS
BRANDI A. RAY
CINDY L. RILEY
CHERYL P. RINEHARDT
MANDI ROGERS
DAVID M. RUDISILL
M. STARR RUSSELL
CYNTHIA C. SASSER
KATHY L. SAVAGE
E. ANNE SCOTT
BROOKE L. SENTER
NEIL B. SENTER
R. SCOTT SEYMOUR
DEBBIE B. SHEPPARD
SHELLI G. SHOAF
TAMARA M. SINGLETARY
BRANDI M. SMITH
ERICA M. SMITH
KATRINA H. SMITH
KELLY B. SMITH
SABRINA D. SMITH
WILLIAM H. SOWARDS
PATRICIA B. SPEIGHT
MEGAN I. SPRINGER
CHRISTY D. STONER
KELLY F. STORY
MACY B. STUTTS
A. DONNIE SWARINGEN
JEFFREY M. TALLEY
M. CHAD TARLTON
ANGELA S. TEEMS
MISTI D. THOMPSON
MISTY W. THORNBURG
CRYSTAL M. TROUTMAN
MARCI A. TUCKER
SUSAN T. TUCKER
TINA L. USSERY
KATHY R. VALENTINE
VINITA K. VANHOY
EDDIE F. WALL
ROBBIE H. WALTERS
ANGELA T. WEBB
DONNA N. WHITLEY
NICOLE M. WILLIAMS
CYNTHIA G. WILSON
TONDA M. WITMORE
KENNETH E. YELTON
ASSOCIATES
13
LEAD.Exemplify the right balance between community and profits.
Uwharrie’s work to make a difference takes many forms. Along with helping the individuals,
families and businesses we call customers, we also try to make a difference by supporting the
communities where we work and live. Here are some of the highlights of these efforts from
the past year.
MAKING A DIFFERENCE IN THE COMMUNITY
14
Uwharrie Bank provided special financing on a new
state-of-the-art fire truck for the Town of Norwood.
Helping our local communities and residents stay safe,
while also saving them some money, is just one way
we promise to make a difference.
Uwharrie provided loans and other banking services to
local farmers and food growers such as The Naked Pig
Meat Company and Carolina Farms. These companies
are key to the local foods movement in our neck of the
woods and supporting them secures jobs and food for
our neighbors and also benefits our local economy.
On the last Friday of every month, Uwharrie associates were allowed to wear jeans in exchange for a $5 donation
to a local charity. To add extra incentive, the associates were given the opportunity to choose the organizations to
support. The initiative began in April of 2014 and raised more than $5,500 for organizations in Anson, Cabarrus and
Stanly counties. We’ll continue the Denim Difference this year and we’re excited to provide even more help to local
organizations.
COMMUNITY INVESTMENT
Our people have drawn much inspiration from the work being done in and around our
communities by many organizations. Last year, Uwharrie Capital Corp provided support to
each of the following groups in an effort to help them do more.
4-H Clubs
Albemarle Downtown Development
Corporation
Albemarle Parks and Recreation
Alzheimer’s Association
American Legion
American Red Cross
Anson County Agriculture
Anson County Arts Council
Anson County Partnership for
Children
Ben Mynatt Children’s Foundation
Big Lick Bluegrass Festival
Boys and Girls Club of Cabarrus
County
Cabarrus Arts Council
Cabarrus Economic Development
Central NC Council Boy Scouts
Chambers of Commerce
Churches & Christian Ministries
CMC Northeast Medical Foundation
Community Athletics, Benefits,
Concerts, Events, Youth
Community Free Clinic
Concord Downtown Development
Corporation
Esther House
Feed My Lambs
Fire Departments
Friends of Library
Friends of the Butterfly House
GHA Autism Supports
Girl Scouts
Gray Stone Educational
Foundation, Inc
Habitat For Humanity
Hands for Hope
Historic Cabarrus
Homes of Hope
Hospice
Humane Society
Kerri D. Efird Memorial Scholarship
Kiwanis Clubs
Lions Clubs
Meals on Wheels
Monarch
Municipalities
Muscular Dystrophy Association
National Wild Turkey Federation
NC Corporative Extension
NC Zoo Society
Outdoor Heritage Days
Pee Dee Lodge
Pfeiffer University
Police Departments
Relay For Life
Rescue Unit of Stanly County
Rotary Clubs
Rowan Cabarrus Community College
Schools—Project Graduation,
Academic Programs, Athletics
Special Olympics
Stanly Community College Foundation
Stanly County Arts Guild
Stanly County Senior Center
Stanly Regional Medical Center
Foundation
The Good Samaritan
United Way Campaigns
Upper Pee Dee Farm
and Food Council
Uptown Wadesboro
Uwharrie Eagles
Uwharrie Players
Uwharrie Youth Arts
Veterans Memorial
VFW
Civitan Clubs
Waverly House
Will Hughes Scholarship Fund
YMCAs
15
LOVE.Let your passion propel your work.
It is the philosophy of Uwharrie Capital Corp to promote a strong, local shareholder base. While bid and ask prices for the
Company’s common stock are quoted on the Over the Counter Bulletin Board under the symbol UWHR, trading is sporadic
with most trades taking place in privately negotiated transactions. Management makes every reasonable effort to match
the willing buyers with willing sellers as they become known for the purpose of private negotiations for the
purchase and sale of the Company’s common stock.
Shareholders needing information about purchasing or selling stock should contact Tamara Singletary, Executive Vice
President, Investor Relations, 704.982.4415, [email protected].
Securities are not FDIC insured, are not guaranteed by any financial institution and may involve investment risk and/or loss
of principal.
The financial information appearing in this Summary Annual Report has been condensed from the consolidated financial
statements which accompany the Proxy Statement distributed in connection with Uwharrie Capital Corp’s 2015 Annual
Meeting of Shareholders. A copy of the Company’s 2014 Annual Report on Form 10-K, as filed with the Securities and
Exchange Commission (SEC), may be obtained at no charge by searching the “EDGAR” archives at www.sec.gov or by
notifying Tamara Singletary, Executive Vice President, Investor Relations, 704.982.4415, [email protected].
Management has simplified the financial presentation in this Summary Annual Report because it believes such simpli-
fication enhances the shareholder communication process. Management’s objective is to provide shareholders with
relevant financial information in an easily understood and readable format.
The accompanying condensed consolidated financial statements and their integrity and objectivity are the responsibility
of the Company’s management. The financial statements include amounts based on management’s best estimates and
judgment. Management also prepared other information in the Summary Annual Report and is responsible for its accuracy
and consistency.
This Annual Report 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
Company’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,” “project,” “outlook,” or similar expressions.
These statements are based upon the current belief and expectations of the Company’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
Company’s control).
SHAREHOLDER INFORMATION
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LOCATIONS
ALBEMARLE PO Box 338Albemarle, NC 28002
Downtown Office167 North 2nd Street704.983.6181
Village Office*710 North 1st Street704.983.6181
East Office*800 NC 24-27 Highway704.983.6181
NORWOOD*107 South Main StreetPO Box 657Norwood, NC 28128704.474.3103
OAKBORO*624 North Main StreetPO Box 624Oakboro, NC 28129704.485.3435
WEST STANLY*416 West Main StreetPO Box 715Locust, NC 28097704.888.8897
CONCORDPO Box 1970Concord, NC 28026
Palaside Drive Office*25 Palaside Drive, NE704.262.3855
Church Street Office700 Church Street North704.262.3855
MT. PLEASANT*1490 South Main StreetPO Box 1081Mt. Pleasant, NC 28124704.436.2300
WADESBORO211 South Greene StreetPO Box 249Wadesboro, NC 28170704.694.2122
ATM Location426 East Caswell StreetWadesboro, NC 28170
* ATM locations
UWHARRIE BANK LOCATIONS
ALBEMARLE132 North First Street PO Box 1517 Albemarle, NC 28002704.983.5959
CONCORD700 Church Street NorthPO Box 1970 Concord, NC 28026 704.262.3855
WEST STANLY416 West Main StreetPO Box 715Locust, NC 28097704.888.8897
STRATEGIC INVESTMENT ADVISORS LOCATIONS
Securities, with the exception of bank products, are not FDIC insured, are not guaranteed by any financial institution and may involve investment risk and/or loss of principal.
ALBEMARLE 132 North First Street PO Box 338 Albemarle, NC 28002 704.982.4415
UWHARRIE CAPITAL CORP LOCATION
INSPIRE.Make a difference and motivate others to do the same.
BRAND GUIDELINES
uwharrie.com
