Exhibit 99.1

First Quarter Report

June 10, 2015

Dear Shareholders:

Your Company completed first quarter 2015 showing continued improvement in both asset quality and earnings. Uwharrie Capital Corp and its subsidiaries reported total assets of $515 million at March 31, 2015, which is the same level of assets that were reported for March 31, 2014. While your Company did not show growth in total assets, we made progress in the composition and quality of our balance sheet. We have steadily improved our asset quality over the past four years, and in the first quarter continued with this positive momentum to return to the lowest point since 2008, reducing non-performing assets by over $12 million. At March 31, 2015, the end of first quarter, non-performing assets expressed as a percentage of total assets were 1.55%. This number compares favorably to our peers and is a result of the diligence of our associates in helping our customers work through what has been a difficult economy.

A further positive development in our balance sheet is reflected in the continued growth of our core deposits. While the level of deposits was relatively the same, the mix of deposits changed to a lower cost of funds, primarily non-interest bearing checking accounts. Cost of funds was reduced by $102 thousand the first quarter of 2015, when compared to the same period 2014. Our challenge remains in finding quality loans to put these funds to work in the communities we serve. Fortunately, we are beginning to see some recovery of the economy in our region. The loan portfolio reflected growth of $3.9 million for the quarter ended March 31, 2015, as compared to the same period for 2014.

According to FDIC Chairman, Martin J. Gruenberg, community bank earnings in the first quarter of 2015 were up 16%. Earnings the first quarter of 2015 available to common shareholders for your Company were $491 thousand as opposed to $391 thousand for the first quarter of 2014, an increase of 25.58%. Earnings improvement for most banks was driven by an increase in loan demand and improving net interest margins. While Uwharrie Bank experienced a growth in loans outstanding, net interest margin was not the driver of our earnings improvement. As a result of our continued focus on the development of fee income, we added staff and resources in our mortgage banking division. Revenues and fees from our mortgage division increased 137% during the first quarter 2015 compared to the same period for 2014. This has been the primary driver of our first quarter improvement. Wealth management and traditional bank lending are important, and we continue to work to grow these areas as sources of revenue, but for the first quarter, their level of earnings was flat when compared to the same period for 2014. Operating expenses for the first quarter were also flat, when compared to first quarter 2014.

In summary, the first quarter of 2015 was a good quarter for community banks in general, as it was for your organization. Improved asset quality, improved earnings and an economic environment that is recovering, bid better days for the financial services industry as a whole. However, we are not completely out of the woods yet. The low interest rate environment is putting pressure on net interest margins for all banks, which is still the source of the majority of community banks’ revenue. This is another reason your bank is working hard to develop new non-margin sources of revenue.

We are grateful for a good start to 2015. As we expand our services into new growth markets and add new programs and products to meet our customers’ needs, we are going to increase our efforts to communicate our story. You will soon see our new ads on local television for the first time. New billboard and radio messages, along with increased social media, will convey to the public our vision and mission. We are the financial partner that helps people and communities achieve their dreams. We are going to explain how and what we mean when we say we are about “Making a Difference.”

Thank you for your support as a customer and shareholder. Please remember to invite your friends and business associates to come join us in making a difference. Join us as we go about building a great community banking organization that is helping to build stronger local economies, businesses and communities in which to raise our families.

This Report may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Company’s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook,” or similar expressions. These statements are based upon the current belief and expectations of the Company’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control).

Uwharrie Capital Corp and Subsidiaries

Consolidated Balance Sheets

Uwharrie Capital Corp and Subsidiaries

Consolidated Statements of Income