User:Vchimpanzee/Uwharrie Capital
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Uwharrie Capital Corporation (UWHR) is a bank holding company headquartered in Albemarle, North Carolina. In Novemer 2012 it had $535 million in assets.[1]
History
[edit]Bank of Stanly
[edit]Bank of Stanly in Albemarle began January 26, 1984. As of 2013 it has $349,202,000 in assets, three branches in Albemarle and one brach each in Locust, Norwood and Oakboro.[2]
Cabarrus Bank & Trust
[edit]In 2002, a group of investors announced plans to start the first local bank in many years. Cabarrus Bank & Trust would bring back the name of a bank taken over by Northwestern Bank (later itself taken over by First Union). The bank's headquarters was to be located on North Church Street in Concord, North Carolina.[3] The bank opened April 11, 2003 with over $17 million in assets. It was owned by Uwharrie Capital Corp., parent of Bank of Stanly, which opened a branch in Concord intending for that branch to become the first Cabarrus Bank branch. Bank of Stanly also had an office in Mount Pleasant. Those who started Cabarrus Bank & Trust promised it would remain a local bank.[4][3] The Concord headquarters was renovated in 2007.[5]
Merger and name change
[edit]CEO Roger Dick said in 2013 that it would be more efficient to have one bank. [6]
References
[edit]- ^ O'Daniel, Adam (November 23, 2012). "Uwharrie Capital's different take on TARP". Charlotte Business Journal. Retrieved April 18, 2013.
- ^ "Bank of Stanly Locations". Retrieved April 18, 2013.
- ^ a b Mangen, Tim (July 3, 2002). "Local investors to open Cabarrus Bank & Trust". Independent Tribune. p. A1.
- ^ "Cabarrus Bank and Trust opens". Charlotte Business Journal. April 10, 2003. Retrieved April 11, 2013.
- ^ Elkins, Ken (July 9, 2007). "Cabarrus Bank & Trust to give Concord HQ a new look". Charlotte Business Journal. Retrieved April 11, 2013.
- ^ Wilson, Jen (March 19, 2013). "Uwharrie Capital to merge its banks into one". Charlotte Business Journal.
External links
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