Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 0

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 0
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Item 1. Financial Statements

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(Dollars in thousands, except share data)At June 30, 2025At December 31, 2024ASSETSCash and due from banks$76,624 $75,998 Interest-earning deposits with other banks83,741 252,846 Cash and cash equivalents160,365 328,844 Investment securities held-to-maturity (fair value $113,166 and $115,007 at June 30, 2025 and December 31, 2024, respectively)128,455 134,111 Investment securities available-for-sale (amortized cost $400,676 and $402,651, net of allowance for credit losses of $17 and $839 at June 30, 2025 and December 31, 2024, respectively)366,421 357,361 Investments in equity securities 1,801 2,506        Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost36,482 38,980 Loans held for sale17,774 16,653 Loans and leases held for investment6,801,185 6,826,583 Less: Allowance for credit losses, loans and leases(86,989)(87,091)Net loans and leases held for investment6,714,196 6,739,492 Premises and equipment, net47,140 46,671 Operating lease right-of-use assets27,278 28,531 Goodwill175,510 175,510 Other intangibles, net of accumulated amortization7,967 8,309 Bank owned life insurance140,086 139,351 Accrued interest receivable and other assets115,581 112,098 Total assets$7,939,056 $8,128,417 LIABILITIESNoninterest-bearing deposits$1,461,189 $1,414,635 Interest-bearing deposits5,121,471 5,344,624 Total deposits6,582,660 6,759,259 Short-term borrowings6,271 11,181 Long-term debt200,000 225,000 Subordinated notes149,511 149,261 Operating lease liabilities30,106 31,485 Accru