Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 129

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 129
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2028673 2029570 Thereafter2,813 Total$6,909 

29

Note 6. Deposits

Deposits and their respective weighted average interest rate at June 30, 2025 and December 31, 2024 consisted of the following:At June 30, 2025At December 31, 2024Weighted Average Interest RateAmountWeighted Average Interest RateAmount(Dollars in thousands)Noninterest-bearing deposits— %$1,461,189 — %$1,414,635 Demand deposits3.31 2,896,516 3.25 3,186,597 Savings deposits0.45 723,996 0.44 704,321 Time deposits4.04 1,500,959 4.40 1,453,706 Total2.43 %$6,582,660 2.52 %$6,759,259 Deposits are insured up to applicable limits by the Deposit Insurance Fund of the FDIC, which is currently $250 thousand per account owner. The aggregate amount of time deposits in denominations over $250 thousand was $321.6 million at June 30, 2025 and $276.0 million at December 31, 2024. At June 30, 2025, the scheduled maturities of time deposits were as follows:Year(Dollars in thousands)AmountRemainder of 2025$722,537 2026361,263 2027178,352 2028163,626 202973,417 Thereafter1,764 Total$1,500,959 

Note 7. Borrowings

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.At June 30, 2025At December 31, 2024(Dollars in thousands)Balance at End of PeriodWeighted Average Interest Rate at End of PeriodBalance at End of PeriodWeighted Average Interest Rate at End of PeriodShort-term borrowings:Customer repurchase agreements$6,271 0.05 %$11,181 0.05 %Long-term debt:FHLB advances$200,000 4.20 $225,000 4.35 %Subordinated notes149,511 6.08