Exhibit 99.1

Third Quarter Report

November 8, 2016

Dear Shareholder:

Uwharrie Capital Corp and its subsidiaries, Uwharrie Bank and Uwharrie Investment Advisors, reported consolidated total assets of $552.2 million at September 30, 2016, versus $532.2 million at December 31, 2015, representing year-to-date growth of $20 million or an annualized growth rate of 5.01%.

Net income for the nine-month period ended September 30, 2016, was $1.8 million versus $1.9 million for the same period in 2015. For the nine months ended September 30, 2016, net income available to common shareholders was $1.3 million or $0.19 per share compared to $1.4 million or $0.20 per share for September 30, 2015. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company.

The difference in earnings largely represents the additional Allowance for Loan and Lease Loss provisions associated with the strong growth in the loan portfolio — up $24.4 million or 10.16% annualized net of contractual paydowns. With each new loan produced, the bank must fund the full loan loss reserve for a loan the day it is funded; however, the interest earned on the loan is recognized as earned over the life of the asset. This results in a short-term negative impact on revenue for growing the loan portfolio in a substantial manner.

Through nine months ended September 30, 2016, Net Interest Margin (the difference in interest earned on loans and investments, less the interest paid on deposits and borrowings) has improved $352 thousand. This improvement is directly related to the growth in loans, as well as our core deposit mix. Non-interest Income increased $1.4 million, while Non-interest Expenses (our costs associated with building and growing our fee income strategies) increased by $1.2 million, providing a net improvement to income before taxes of $200 thousand.

We are pleased to inform you of your Board’s declaration of a 2% stock dividend payable to shareholders November 23, 2016. Growth opportunities demand capital and the payment of a stock dividend allows us to retain capital while providing the best value to our shareholders. Individuals who are still in their peak-earning years and do not want the additional tax burden will not have to recognize income generated by a stock dividend. Shareholders looking for income now can sell these new shares for cash.

The Board of Directors also voted to transition to “Book Entry,” which is a system of tracking the ownership of securities where no paper certificates are distributed to investors. Book Entry reduces the risks and costs associated with replacing lost or stolen certificated share(s), thus reducing your costs of ownership. Furthermore, it allows for faster buy/sell transactions, as well as quicker transfers of shares in brokerage accounts or gifting to other individuals.

In addition to the benefit direct to our shareholders, the corporation benefits from reduced costs associated with paper certificate(s). We believe this transition to Book Entry could save your company thousands of dollars per year, which improves the financial performance of the company, consequently increasing the value of your investment.

We are delighted to have delivered another solid quarter of financial performance. At Uwharrie Capital Corp, we remain committed to the values that brought a group of people together more than thirty years ago to create a community banking organization “For and By the People.” In order to be successful, we must be thoughtful, intentional and strategic in order to improve and sustain ourselves and our communities. We diligently strive to remain focused on both the financial bottom line and the people we serve, without compromising either.

In keeping with tradition, you will soon receive the Uwharrie Capital Corp 2017 Community Calendar. This year’s calendar highlights our community’s earliest diversification from agriculture, as our nation witnessed its first gold rush in the Piedmont region of North Carolina. We think you will enjoy this bit of history and collection of nostalgic photographs.

Warmest wishes to you and your family for the coming holiday season.

Sincerely,

UWHARRIE CAPITAL CORP

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 Sheet (Unaudited)

Uwharrie Capital Corp and Subsidiaries

Consolidated Statements of Income (Unaudited)