Uwharrie Capital Corporation (UWHR) has reported 5.10 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $0.39 million, or $0.06 a share in the quarter, compared with $0.41 million, or $0.06 a share for the same period last year.
Revenue during the quarter went down marginally by 0.11 percent to $6.60 million from $6.60 million in the previous year period. Net interest income for the quarter rose 5.29 percent over the prior year period to $4.24 million. Non-interest income for the quarter rose 15.24 percent over the last year period to $2.59 million.
Uwharrie Capital Corporation has made provision of $0.24 million for loan losses during the quarter, compared with a negative provision of $0.32 million in the same period last year.
Liabilities outpace assets growthTotal assets stood at $552.21 million as on Sep. 30, 2016, up 4.76 percent compared with $527.10 million on Sep. 30, 2015. On the other hand, total liabilities stood at $507.41 million as on Sep. 30, 2016, up 5.02 percent from $483.17 million on Sep. 30, 2015.
Loans outpace deposit growthNet loans stood at $341.69 million as on Sep. 30, 2016, up 6.83 percent compared with $319.86 million on Sep. 30, 2015. Deposits stood at $489.06 million as on Sep. 30, 2016, up 5.78 percent compared with $462.35 million on Sep. 30, 2015. Noninterest-bearing deposit liabilities were $104.88 million or 21.44 percent of total deposits on Sep. 30, 2016, compared with $92.75 million or 20.06 percent of total deposits on Sep. 30, 2015.
Investments stood at $112.54 million as on Sep. 30, 2016, up 4.01 percent or $4.34 million from year-ago. Shareholders equity stood at $44.80 million as on Sep. 30, 2016, up 1.98 percent or $0.87 million from year-ago.
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