Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 157

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 8
Chunk 157
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 the parent company of Girard Investment Services, LLC, a full-service registered introducing broker-dealer and a licensed insurance agency, Girard Advisory Services, LLC, a registered investment advisory firm, and Girard Pension Services, LLC, a registered investment advisor, which provides investment consulting and management services to municipal entities. The Bank is also the parent company of Univest Insurance, LLC, an independent insurance agency, and Univest Capital, Inc., an equipment financing business.

The Corporation earns revenues primarily from the margins and fees generated from lending and depository services as well as fee-based income from trust, insurance, mortgage banking, treasury management and investment services. The Corporation seeks to achieve adequate and reliable earnings through business growth while maintaining adequate levels of capital and liquidity and limiting exposure to credit and interest rate risk. 

50

Executive Overview

The Corporation’s consolidated net income, earnings per share and return on average assets and average equity were as follows: 

Three Months EndedNine Months Ended September 30,ChangeSeptember 30,Change(Dollars in thousands, except per share data)20252024AmountPercent20252024AmountPercentNet income$25,639 $18,578 $7,061 38.0 %$68,012 $56,990 $11,022 19.3 %Net income per share:Basic$0.89 $0.64 $0.25 39.1 $2.36 $1.95 $0.41 21.0 Diluted0.89 0.63 0.26 41.3 2.34 1.94 0.40 20.6 Return on average assets1.24 %0.92 %32 BP34.8 1.13 %0.97 %16 BP16.5 Return on average equity11.02 %8.55 %247 BP28.9 10.00 %8.95 %105 BP11.7 

The financial results for the three and nine months ended September 30, 2025 included tax-free bank owned life insurance (BOLI) death benefit claims of $967 thousand and $2.1 million, respectively, which represented $0.03 and $0.07 diluted earnings per share for the respective periods. The financial results for the nine months ended September 30, 2024 included a $3.4 million net gain ($2