David Beaver Is Named Assistant Vice President

Tuesday, April 7th 2009 - Albemarle, NC - Roger Dick, President and Chief Executive Officer of Uwharrie Capital Corp, is pleased to announce that David Beaver was named Assistant Vice President at the March Board of Directors meeting.

David joined Uwharrie Capital Corp as a financial accountant in June 2005. David is primarily responsible for income simulation modeling, and forecasting and managing the daily cash position for the holding company and its subsidiaries. He also assists the Chief Financial Officer in the management of the investment portfolio, wholesale funding and the asset liability function.

David is a native of Albemarle and graduated Magna Cum Laude in 2005 from Pfeiffer University, with a Bachelor of Science degree in Accounting, with a concentration in Finance, Business Administration and Marketing. He has attended various financial services training courses, including Daily Cash Management from The Federal Reserve Bank and Asset Liability Management from IPS Sendero in Atlanta, and is a 2007 graduate of Bond Math University in Chicago.

David has been active within the company as the 2008 Chair of the Uwharrie Capital Corp Young Adult Committee and was instrumental in the development of the "Shop Local" campaign within the Stanly, Anson and Cabarrus communities. He is a member of New London United Methodist Church, where he serves as Vice-Chair of the Staff Parish Relations Committee. In his spare time, he enjoys woodworking and playing golf and tennis. He and his wife, Emily, reside in the Albemarle community with their daughter, Riley.

Upon David's appointment as Assistant Vice President, Uwharrie Capital Corp President and Chief Executive Officer, Roger Dick commented, "We congratulate David and commend him for his dedication and commitment to the company and to the work he does for our customers and communities. We are fortunate to have him as part of our corporate family."

Uwharrie Capital Corp is a $452.5 million multi-bank holding company located in Albemarle, North Carolina. The corporation offers a full range of financial solutions through its financial services subsidiary companies including Anson Bank & Trust, Bank of Stanly, Cabarrus Bank & Trust, Strategic Investment Group and Strategic Investment Advisors.