SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported September 21, 1998)
UWHARRIE CAPITAL CORP
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(Exact name of Registrant as specified in its charter)
NORTH CAROLINA 33-58882 56-1814206
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(State or other jurisdiction (Commission File No.) (IRS Employer Identification
of incorporation) number)
167 NORTH SECOND STREET, ALBEMARLE, NORTH CAROLINA 28001
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(Address of principal executive offices)
Registrant's telephone number, including area code (704) 983-6181
NOT APPLICABLE
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(Former address of principal executive offices)
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ITEM 5 OTHER EVENTS.
Beginning September 21, 1998, the Registrant offered for sale a minimum of
300,000 and a maximum of 850,000 shares of its common stock par value $1.25 per
share at a price of $5.50 per share. The stock is being offered to shareholders
of the Registrant as of August 28, 1998 for the first 30 days of the offering
until October 21, 1998. If shares remain unsubscribed as the end of the
Shareholder Offering, they will be offered at the same price and with the same
purchase limitations on a first-come, first-served basis to (1) existing
customers of the Bank of Stanly, a subsidiary of the Registrant, or any one of
its subsidiaries (ii) businesses in, residents of, or persons having property
interests in Stanly, Montgomery, Richmond, Anson, Union, Cabarrus, Rowan,
Randolph or Davidson Counties, North Carolina. and (iii) other persons or
businesses outside of the aforementioned counties subject to the approval of the
Registrant's Board of Directors.
The net proceeds from the offering will be used for corporate purposes to
include (a) improving banking equipment and operating systems, providing new
product lines, and implementing technological advances at the Registrant and its
subsidiaries (b) providing funds for internal growth and expansion through the
hiring of new management personnel and (c) financing de novo expansion or
acquisitions that complement existing operations.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UWHARRIE CAPITAL CORP
By: /s/ Roger L. Dick
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Roger L. Dick,
President and Chief Executive Officer
Dated: Oct.7, 1998
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EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION OF EXHIBIT
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21 Press Release dated September 23, 1998
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UWHARRIE CAPITAL CORP
News Release
FOR IMMEDIATE RELEASE
CONTACT: TAMARA SINGLETARY
UWHARRIE CAPITAL CORP (704) 982-4415
DATE: SEPTEMBER 23, 1998
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Albemarle, North Carolina--Uwharrie Capital Corp, the bank holding company of
the Bank of Stanly, announced that it has received approval from the Securities
and Exchange Commission to offer up to 850,000 shares of its common stock. The
common stock is being offered for the first thirty days of the offering pursuant
to nontransferable subscription rights to shareholders of the Company as of
August 28, 1998 and thereafter, if any shares remain, on a first come, first
serve basis to existing customers as of August 28, 1998, of the Bank of Stanly
and its subsidiaries, The Strategic Alliance Corporation and BOS Agency, Inc.,
and businesses in, residents of, or persons having property interests in Stanly,
Montgomery, Richmond, Anson, Union, Cabarrus, Rowan, Randolph, or Davidson
Counties, North Carolina. The Company intends to use the net proceeds from the
offering for such corporate purposes as (a) improving equipment and operating
systems, providing new product lines, and implementing technological advances at
the Company and the Bank of Stanly and its subsidiaries; (b) providing funds for
internal growth and expansion at the Company and the Bank of Stanly and its
subsidiaries through the hiring of new management personnel; and (c) financing
de novo expansion or new acquisitions for the Bank of Stanly and its
subsidiaries that complement existing operations. The offering will be made only
by means of a prospectus.
For further information, please contact the Stock Information Center at
Uwharrie Capital Corp, 134 North First Street, Albemarle, North Carolina
28001, telephone number (704) 982-4415.
**END OF RELEASE**
