Corporate History

Our organization was chartered as Bank of Stanly in January 1984. It was the desire of the organizers to create a community-based organization that could take care of the financial needs of Stanly County. During most of the Twentieth Century, Stanly County enjoyed local ownership of several financial companies. In the early 1980's, two local banks were acquired by large regional banks and the community began feeling a real sense of loss over local economic development, local capital, and economic literacy. It was the sense of this loss that became the primary motivating force for the development of our organization.

The creation of community wealth, as opposed to individual wealth, became a guiding principal for the organizing group. An attempt was made to sell the stock to a broad base of the community. Organizers were able to raise the necessary capital to charter the bank, with less than a dozen people owning as much as 1% of the stock.

Consistent with this broad base of community ownership, Uwharrie Capital Corp is governed by a large, diverse Board of Directors that represents the various constituencies of our region. The Board utilizes a rotation system for terms of service and geographic representation, much like our legislative bodies. Serious effort and actions were taken in the development of our organization to assure that it would be an institution that was truly "For the people, by the people."

Today our organization has grown in to a financial services holding company meeting more of the total needs of our market, which we've defined as the Uwharrie Lakes Region (Anson, Cabarrus, Davidson, Montgomery, Randolph, Richmond, Rowan, Stanly and Union counties of North Carolina). On January 19, 2000 Anson Bank & Trust, in Wadesboro, NC partnered with Uwharrie Capital Corp to provide a full range of financial services. This has allowed us to take our community philosophy to our neighbors in Anson County.

During 2002 Uwharrie Capital Corp partnered with a group of incorporators in Cabarrus County to create a third community based financial services company. Cabarrus Bank & Trust has given Cabarrus County a local financial services company that can pursue its own community mission, focusing attention on the needs of local customers.

We remain today a broad-based, community orientated, financial services company with control of a significant proportion of our local capital. Local leaders are involved in studying and understanding the underlying causes and effects of our local economy, with a hand in creating a desired future. Our organization has become one of the area's largest benefactors to worthwhile community projects and charities. We're creating greater overall community wealth, we're Making a Difference in the quality of life and the kind of future our descendants will enjoy.