Exhibit 99.1

Second Quarter Report

September 9, 2016

Dear Shareholder:

We are pleased to report that during the second quarter of 2016; your company continued to grow, improve asset quality, and increase earnings and capital which allowed us to improve the value of your investment despite a lethargic economy and intense competition.

The macroeconomic forces, primarily the anticipated British exit of the European Union (“Brexit”), continue to increase investor and business uncertainty in the global economy and in the United States. Since the Brexit vote, there has been renewed downward pressure on interest rates, squeezing industry margins, and causing the Fed to defer planned interest rate hikes. The world’s top economists are forecasting continued slow growth with flat interest rates. In turn, this creates challenges for investors to find valuable alternatives, most particularly for those dependent on fixed income investments.

Confronted with a lack of growth in the economy, banks can only find new loan opportunities by taking existing loans away from other lenders. The consequence of this intensified competition is further pressure on margins and, in some cases, more liberal loan underwriting which will affect credit quality in subsequent periods. Our strategy is to maintain credit standards while focusing instead on excellent service, total financial relationships, and intense business development efforts. This approach is paying off as evidenced by our progress in growing loans and improving margins.

Deposit growth is strong in both our urban and rural markets. Our expansion into Charlotte is also proving beneficial and provides us an opportunity to widen our network, improve core bank earnings and, generally, to grow and diversify our fee income sources.

Continuing with our efforts to diversify revenue sources with a strategic focus on fee income, we are pleased with the progress being made by both Uwharrie Bank Mortgage (UBM) and Uwharrie Investment Advisors (UIA). Total mortgage production for the six months ending June 30, 2016, was $52.7 million compared to $27.3 million for the same period of 2015 — a 93% increase. This very favorable improvement in production results in greater leverage of UBM backroom operations, thus improving overall profitability.

Uwharrie Investment Advisors also increased revenue year-over-year by 15%. We continue to work with clients to offer an array of products to fit their investment needs based on their individual goals and risk tolerance. UIA is in the process of offering new and enhanced technologies, and asset management solutions that will further add convenience and value for our clients.

Uwharrie Capital Corp (UCC) and its subsidiaries reported total assets of $525 million at June 30, 2016, compared to $518 million reported March 31, 2016; slightly over 5% annualized growth. The primary contributor to that growth came from the loan portfolio, which increased $4.9 million during the quarter, nearly 6%. The bank also grew core deposit funding during this period by $7.6 million which enabled us to reduce more expensive wholesale borrowings by $1.6 million. This shift in the balance sheet mix contributes to improved core bank earnings.

Net Income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Company. For the three months ended June 30,2016, Net Income available to common shareholders was $562 thousand or $0.08 per share compared to $513 thousand or $0.07 per share for June 30, 2015, a 9.6% improvement. The improved earnings available to common shareholders increased the Company’s capital position.

We are pleased to report the continued positive momentum in the price of your stock. UCC stock price as of March 31, 2016, was $4.36 per share and as of June 30, 2016, it was up to $4.55 which represents an increase of 60% since year-end 2013 when the price was $2.85. Uwharrie Capital Corp stock is still trading below book value and well below its intrinsic value, but that gap is steadily narrowing.

We remain focused on our mission to help improve the lives of our customers and the economic vibrancy of our communities. In today’s world of uncertainty, creating value for our customers means remaining relevant in providing real solutions to their financial challenges in achieving a secure future.

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 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.

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)