Bill Lawhon Named President & Chief Executive Officer

Wednesday, July 9th, 2003 - Albemarle, NC - Mark Mabry, Chair of the Board of Directors for Bank of Stanly is pleased to announce that Bill Lawhon has been named President and Chief Executive Officer of Bank of Stanly.

"We feel fortunate to have Bill as a Bank of Stanly team member with his wealth of experience, background and character. He truly has our community's interests at heart. His enthusiasm toward putting his knowledge to work in our community is evident in the way he goes about serving others," added Mr. Mabry.

Bill was born and raised in Stanly County and is a graduate of Albemarle High School. He has completed both the Mid-Management and Advanced Management Programs of the University of North Carolina School of Banking, and in 1998 graduated from the Louisiana State University Graduate School of Banking, earning a banking diploma.

He began his finance and banking career in 1973, beginning with Northwestern Bank in Statesville and Franklin, NC. He was also associated previously with Security Bank in Albemarle as City Executive. In 1987, he joined North Carolina Federal Savings & Loan Association in Albemarle which was acquired by First Citizens Bank in 1990. Prior to joining Bank of Stanly, Bill was Area Relationship Banking Manager with First Citizens Bank responsible for commercial and business banking for Stanly, Union and Cabarrus Counties.

Bill and his wife, Gail, live in the Endy community and are both natives of Stanly County. They have two married sons and one grandson.

Bill currently serves on the Boards of Directors of Stanly Memorial Hospital, Stanly County Economic Development Commission, and the Centralina Development Corporation, the organization that approves Small Business Administration loans for an eight-county region, in which Stanly County is located. He is also a member of the Albemarle Kiwanis Club and Stanly County Schools JobReady Partnership Advisory Board. A member of Pleasant Grove Baptist Church, he currently serves as a Sunday School teacher and member of the Recreation Committee.

He has also served in the past with the Stanly County Chamber of Commerce, Albemarle Lions Club, Central NC Council of Boy Scouts, United Way, Albemarle Downtown Development Corporation, and the Albemarle-Stanly County Airport Authority Board.

"I feel I have been called to the banking profession. It is my sincere desire to help the people of Stanly County realize their financial dreams. Through my association with Bank of Stanly, I think I can do just that. The hometown people deserve banking with a hometown touch, and I'm glad to have the opportunity to serve my friends," added Bill.

Ron Davis, President of Uwharrie Capital Corp, parent company of Bank of Stanly commented, I can't imagine a more capable individual than Bill to whom our company could turn this important responsibility.

By working together, we can continue to enhance the well being of the counties we serve and make a difference in our community.

Bank of Stanly operates full service banking offices in Albemarle, Norwood and Oakboro. Uwharrie Capital Corp is a multi-bank holding company located in Albemarle, NC. The corporation offers a full range of financial solutions through its financial services companies including Bank of Stanly, Anson Bank & Trust, Cabarrus Bank & Trust, Strategic Investment Group and Strategic Investment Advisors.