Exhibit 99.1

First Quarter Report

September 4, 2015

Dear Shareholders:

Your Company is at a strategic inflection point due to the economy, the evolution of financial services and the characteristics of the markets in which we operate. The economy in our part of the world is improving, but ever so slightly. Job growth continues to be tentative, businesses are cautious and economic uncertainties abound. Technology is challenging the industry as banking channels morph into a greater reliance on electronic delivery. Organic growth is a formidable challenge for the entire industry causing a rapid consolidation of community banks across the country. Rural-based markets are, for the most part, flat or declining as large cities benefit from the migration of young and skilled workers and thus the preponderance of growth opportunities and jobs. However, we are focused on a strategic response to all these challenges and so far it’s working.

Our first priority as we came through the recession was to improve credit quality and dispose of problem assets. We have done that. Our credit quality is as strong as it ever has been and even better than before the recession. Total non-performing loans reached an all-time low for the most recent decade, declining to 0.44% of the total loan portfolio, an 80% improvement from what it was during the peak of the recession. Our second priority was to become more efficient in our processes and our structure. We accomplished that through the consolidation of our banks and the introduction of state-of-the-art paperless and digital processes. Despite the investment outlays for new technologies, we have reduced operating expenses significantly, saving the company $2 million over the past couple of years.

Our strategic priority now is to manage the balance sheet while we grow the Company to achieve the scale required to handle the new over-regulated environment and to open new avenues to increase income. We embarked on this strategic priority in 2014 and we continue down this path.

Favorable changes in our loan portfolio and in the reduction of non-performing assets afforded us the ability to reduce our Allowance for Loan and Lease Losses by nearly $300 thousand to date during 2015. Our Net Interest Margin, the difference between interest income earned from loans and bonds, and the interest paid on deposits and borrowings, reflects a slight compression year-over-year as have the vast majority of banks. However, since December 31, 2014, Net Interest Margin has improved as we carefully invest cash into new loans and short-term bonds. We continue to work to improve our Net Interest Margin without sacrificing credit quality or increasing the interest rate risk of the portfolio.

In 2015, we established a new loan production office in Charlotte, NC. As we expand our market presence into more robust economic markets, we may temporarily incur costs before reaping the income benefit. However, these investments in new markets are essential to growth and the future of our organization.

In addition to the new markets, we also have a heightened focus on Mortgage Banking and Wealth Management, two existing business lines that provide scalable income sources. Your Company’s Non-Interest Income through six months of 2015 was 1.46% of average assets, while our national peer is only 0.88%. This represents slightly over $3 million dollars of additional revenue compared to peers based on our current asset size.

Even though we are increasing expenses in 2015 to achieve new growth in revenues, earnings from Operations were $1.3 million as of June 30, 2015, 14% or $164 thousand better than 2014 and led to an overall net improvement in capital of $1.2 million or 2.91%. As of June 30, 2015, our Total Risk-based Capital Ratio was 15.69%, 35 basis points above our national peer group.

In summary, your management and board of directors understand the unprecedented headwinds community banks are facing today and in the foreseeable future. We continue to take appropriate actions to ensure your Company is the strong, viable and agile economic engine our communities require. Thank you for your trust and continued support. Because of you, our valued shareholders, we continue to be able to make a difference.

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