2005 Annual Meeting of Shareholders

• SOURCE: STANLY NEWS & PRESS
• BY: JIM LISK

Tuesday, May 10th 2005 - Albemarle, NC - Shareholders of Uwharrie Capital Corp were treated to performances by the Anson High School Marching Bearcat Band and the Albemarle High School Advanced Women's Chorus. Awards were also presented to Teachers and Businesses representing the best of Anson, Cabarrus and Stanly counties.

While we remain committed to self-sufficiency and economic independence, managing costs has become increasingly more challenging," Uwharrie Capital Corp CEO Roger Dick said to stockholders at the company's recent annual meeting. Increased regulations, the move within the banking industry to consolidation, and the globalization of the world economy have combined to make the task of the community bank "difficult and extremely complicated."

Roger Dick told stockholders that Uwharrie Capital's move into Anson and Cabarrus with additional community banks was working. "We think that a scale of $500 million in assets must be reached to offer all the services required to be competitive long-term in today's financial services industry," he said. "This is the reason we chose to partner with neighboring communities and in doing so we continue on the journey of creating community wealth while appropriately rewarding all stakeholders."

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Uwharrie Capital Corp Board Chair Cindy Beane introduced the Teacher of the Year and outstanding Small Business of the Year for Anson, Cabarrus and Stanly counties. These awards were presented by directors and CEO's from Anson Bank & Trust, Bank of Stanly and Cabarrus Bank & Trust.

Winners of the Teacher of the Year were: Anson County - Sherry Lisk, a first grade teacher at Wadesboro Primary School. Cabarrus County - Keith Maletta, an English teacher at Central Cabarrus High School; and Stanly County - Mark Rowles, a science teacher at West Stanly High School. Uwharrie Capital presented each with two gifts. A drawing by local artist Grey Carle that depicts their field of teaching and a $1,000 stipend.

"Hometown businesses are a vital part of the economic integrity and success of the region we serve as a financial services company;" Cindy Beane said. "These businesses provide jobs for local residents who, in turn, attend our churches, coach our youth sports, volunteer for fire departments and spend their hard earned dollars at local businesses."

Anson County - Dr. Fred Thompson (Anson Community Hospital) Cabarrus County - Jack Ritchie (Ritchie Services Co.) Stanly County - Terry & Darla Smith (Terry L Smith Construction Co.)

Honored as Small Business of the Year winners were: Anson County - Anson Community Hospital; Cabarrus County - Ritchie Services Company; and Stanly County - Terry L. Smith Construction Company Inc. / 21st Century Housing. Each were presented with a wall mounted Grandfather Clock.

At a brief meeting of the Uwharrie Capital Corp Board of Directors following the Annual Meeting, Michael Snyder was elected Vice Chair, of the board, and James Nance was elected Chair for 2005 - 2006.

UCC Recognized as a Leader in Implementation of Check Clearing Monday, May 9th 2005 - Albemarle, NC - Uwharrie Capital Corp was recently featured in the publication American Banker as a leader in using Imaging Technology. By partnering with ...