Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 124

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 124
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 Months Ended March 31, 2025(Dollars in thousands)Balance atDecember 31,2024Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at March 31, 2025Paul I. Sheaffer Insurance Agency$635 $635 $— $— Total contingent consideration liability$635 $635 $— $—  Three Months Ended March 31, 2024(Dollars in thousands)Balance atDecember 31,2023Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at March 31, 2024Paul I. Sheaffer Insurance Agency$1,224 $635 $12 $601 Total contingent consideration liability$1,224 $635 $12 $601 

34

The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or changes in the value of individual assets. The following table represents assets measured at fair value on a non-recurring basis at March 31, 2025 and December 31, 2024: At March 31, 2025(Dollars in thousands)Level 1Level 2Level 3Assets atFair ValueIndividually analyzed loans held for investment$— $— $8,030 $8,030 Other real estate owned— — 22,433 22,433 Repossessed assets — — 79 79 Total$— $— $30,542 $30,542  At December 31, 2024(Dollars in thousands)Level 1Level 2Level 3Assets atFair ValueIndividually analyzed loans held for investment$— $— $10,111 $10,111 Other real estate owned— — 20,141 20,141 Repossessed assets— — 76 76 Total$— $— $30,328 $30,328 The following table presents assets and liabilities not measured at fair value on a recurring or non-recurring basis in the Corporation’s condensed consolidated balance sheets but for which the fair value is required to be disclosed at March 31, 2025 and December 31, 2024. The disclosed