Uwharrie Capital Corp. (UWHR) in Albemarle, N.C., has repaid more than three-fourths of the money it took through the Troubled Asset Relief Program.
On April 3, Uwharrie redeemed $7.7 million of the $10 million of preferred shares it issued to the Treasury Department as part of the Tarp program in December 2008, the $541 million-asset company said last week in a
The company plans to fully exit Tarp within 18 months, it said in the filing.
Uwharrie is the holding company for three North Carolina banks: the $349 million-asset Bank of Stanley in Albemarle, the $132 million-asset Cabbarus Bank & Trust in Concord and the $60 million-asset Anson Bank & Trust in Wadesboro. It plans to merge the three into a single bank by the end of the year, it said in an
Uwharrie's Tarp repayment was
