Exhibit 99.1

November 21, 2025

Dear Shareholder:

As we close the third quarter of 2025, Uwharrie Capital Corp continues to move forward—not only in financial strength, but also in the deeper mission that has always defined us.

As of September 30, 2025, our assets reached $1.22 billion, an increase of $35 million, or 3%, compared to the same period in 2024. Our loan portfolio grew by $31 million to $682 million, supported by core deposit growth of $26 million year-over-year. Net income for the nine months ended September 30, 2025, rose to $8.3 million, up from $7.6 million in 2024. These results reflect the steady effort of our associates, the trust of our customers, and the confidence of our shareholders.

While the numbers tell a story of continued progress, what matters most is the purpose behind them. They represent people—families buying homes, local entrepreneurs growing their enterprises, and communities building resilience. Every loan, every deposit, every relationship contributes to a larger effort to strengthen financial well-being and opportunity close to home. Our focus remains on creating long-term value—not only for shareholders, but also for families, local businesses, and the communities that rely on strong community banking.

In recognition of the Company’s continued progress, the Board of Directors has declared a 3% stock dividend. Shareholders of record as of November 10, 2025, will receive the dividend on December 1, 2025. This action reflects both our financial performance and the shared purpose that guides our work. The dividend will be distributed electronically through book-entry, and, consistent with prior years, shareholders may retain the shares to potentially defer income recognition or sell them if liquidity is preferred.

As the holidays draw near, we are reminded of the deeper meaning behind our work—the connections we share and the good we can do together. This season, our Christmas initiatives will once again support local nonprofits and families in need, honoring you, our shareholders and customers, by extending generosity and hope throughout our communities.

As we turn the page on another year, my gratitude runs deep for the dedication of our team, the loyalty of our customers, and the steadfast support of our shareholders. Your belief in community banking that puts people first continues to light our way. Together, we are building something enduring—rooted in service, strengthened by trust, and guided by purpose.

Sincerely,

UWHARRIE CAPITAL CORP

/s/ Roger L. Dick

President and Chief Executive Officer

This 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,” “projects,” “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).


Uwharrie Capital Corp and Subsidiaries
Consolidated Balance Sheets (Unaudited)
	September 30,			September 30,
(Amounts in thousands except share and per share data)	2025			2024

Assets
Cash and due from banks	$	10,768		$	8,115
Interest-earning deposits with banks		100,250			115,783
Securities available for sale		354,920			332,645
Securities held to maturity (fair value $20,016 and $24,888, respectively)		22,023			26,843
Less: allowance for credit losses on securities held to maturity		(46	)		(66	)
Net securities held to maturity		21,977			26,777
Equity securities, at fair value		332			355
Loans held for sale		5,083			4,787
Loans held for investment		677,390			647,125
Less: allowance for credit losses on loans		(6,356	)		(5,736	)
Net loans held for investment		671,034			641,389
Premises and equipment, net		14,171			14,722
Interest receivable		4,700			4,821
Restricted stock		1,779			1,729
Bank-owned life insurance		8,044			7,901
Deferred income tax benefit		7,132			6,991
Loan servicing assets		3,799			3,982
Other assets		11,837			11,062
Total assets	$	1,215,826		$	1,181,059

Liabilities
Deposits:
Demand, noninterest-bearing	$	287,219		$	288,278
Interest checking and money market accounts		429,147			431,230
Savings accounts		100,842			94,562
Time deposits, $250,000 and over		137,654			131,992
Other time deposits		149,191			131,749
Total deposits		1,104,053			1,077,811
Short-term borrowed funds		43			1,419
Long-term debt		29,219			29,142
Other liabilities		11,545			11,566
Total liabilities		1,144,860			1,119,938

Shareholders' Equity
Common stock, $1.25 par value: 20,000,000 shares authorized;
issued and outstanding or in process of issuance
6,988,394 and 6,964,323 shares, respectively.
Book value per share $8.38 in 2025 and $6.90 in 2024 (1)		8,735			8,705
Common stock dividend distributable		262			174
Additional paid-in capital		13,666			12,735
Undivided profits		56,089			48,217
Accumulated other comprehensive loss		(18,441	)		(19,365	)
Total Uwharrie Capital Corp shareholders' equity		60,311			50,466
Noncontrolling interest		10,655			10,655
Total shareholders' equity		70,966			61,121
Total liabilities and shareholders' equity	$	1,215,826		$	1,181,059


(1) Net income per share, book value per share and weighted average shares outstanding have been adjusted to reflect the 3.0% stock dividend in 2025 and the 2.0% stock dividend in 2024.


Uwharrie Capital Corp and Subsidiaries
Consolidated Statements of Income (Unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Amounts in thousands except share and per share data)	2025			2024			2025			2024

Interest Income
Interest and fees on loans	$	10,800		$	9,966		$	31,504		$	28,045
Interest on investment securities		3,218			3,378			9,500			9,942
Interest-earning deposits with banks and federal funds sold		682			780			1,834			2,116
Total interest income		14,700			14,124			42,838			40,103

Interest Expense
Interest paid on deposits		4,481			4,658			13,106			12,484
Interest paid on borrowed funds		331			408			1,009			1,207
Total interest expense		4,812			5,066			14,115			13,691

Net Interest Income		9,888			9,058			28,723			26,412
Provision for (recovery of) credit losses		176			(230	)		711			171
Net interest income after provision for (recovery of) credit losses		9,712			9,288			28,012			26,241

Noninterest Income
Service charges on deposit accounts		280			283			802			818
Interchange and card transaction fees		252			267			809			877
Other service fees and commissions		1,002			991			2,972			2,819
Loss on sale/call of securities		-			-			-			(148	)
Realized/unrealized gain (loss) on equity securities		7			31			(2	)		53
Income from mortgage banking		927			861			3,005			2,301
Other income		438			96			785			364
Total noninterest income		2,906			2,529			8,371			7,084

Noninterest Expense
Salaries and employee benefits		5,581			5,152			16,712			15,511
Occupancy expense		488			454			1,385			1,308
Equipment expense		195			217			606			642
Data processing		223			177			664			610
Loan costs		47			58			205			142
Professional fees and services		289			252			826			778
Marketing and donations		375			383			1,093			1,088
Software amortization and maintenance		412			344			1,132			1,003
Other operating expenses		1,251			783			3,146			2,452
Total noninterest expense		8,861			7,820			25,769			23,534

Income before income taxes		3,757			3,997			10,614			9,791
Provision for income taxes		867			962			2,347			2,160
Net Income	$	2,890		$	3,035		$	8,267		$	7,631

Consolidated net income	$	2,890		$	3,035		$	8,267		$	7,631
Less: net income attributable to noncontrolling interest		(142	)		(142	)		(422	)		(424	)
Net income attributable to common shareholders	$	2,748		$	2,893		$	7,845		$	7,207
Net Income Per Common Share (1)
Basic	$	0.38		$	0.39		$	1.08		$	0.97
Assuming dilution	$	0.38		$	0.39		$	1.08		$	0.97
Weighted Average Common Shares Outstanding (1)
Basic		7,216,259			7,376,072			7,254,062			7,436,961
Assuming dilution		7,216,259			7,376,072			7,254,062			7,436,961

UWHARRIE CAPITAL CORP 8-K