Uwharrie CEO Receives Compensation of $431,000 in 2016

4/23/17

By Jonathan Ponciano, NC BIZ News

The chief executive of Uwharrie Capital Corp. received $431,000 in total compensation last year, a slight increase from his $424,000 compensation in 2015, according to a filing with the Securities and Exchange Commission.

As part of his compensation package, Roger Dick, who also serves as president of the Albemarle-based holding company, received a base salary of about $248,000 in 2016 – the same as his salary in 2015.

The total compensation figure also included $125,000 in deferred compensation earnings and a bonus of $30,000, 20 percent more than Dick’s bonus in 2015.

Uwharrie, parent company of its namesake bank, also reported compensation figures for two other executives.

Chief Operating Officer Brendan Duffey received $379,000 in 2016, up 1.6 percent from 2015. Duffey’s base salary of $227,000 remained unchanged in 2016 while his bonus increased to $30,000 from $22,500 in the previous year.

Chief Financial Officer David Beaver III saw his total compensation package climb nearly 25 percent to $264,000 in 2016. His base salary grew by 15 percent, totaling $190,000 for the year. He also received a bonus of $20,000, compared to no bonus in 2015.

Uwharrie’s annual meeting of shareholders will be held at the Stanly County Agri-Civic Center on Tuesday, May 9 in Albemarle, North Carolina.

Shareholders will vote to elect three board members, ratify a resolution regarding executive compensation and ratify the appointment of Charlotte-based Dixon Hughes Goodman LLP as the company’s public accounting firm for 2017.

Uwharrie reported 2016 net income of $2.2 million, up 10.2 percent from 2015.

Uwharrie Bank offers its personal loans, business loans and wealth management services from banking centers and loan offices in Albemarle and surrounding regions.

Shares of the bank holding company closed at $5.30 on Friday, up 6 cents, or 1.2 percent.

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