Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 82

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 82
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,022,323 $7,241,116 $(218,793)(3.0 %)

Deposits

Total deposits decreased $176.6 million, or 2.6%, from December 31, 2024, primarily due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. At June 30, 2025, noninterest bearing deposits totaling $1.5 billion represented 22.2% of total deposits compared to $1.4 billion representing 20.9% of total deposits at December 31, 2024. At June 30, 2025 and December 31, 2024, unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.5 billion, which represented 23.0% and 22.0% of total deposits at the respective periods.

Borrowings

Total borrowings decreased $29.7 million, or 7.7%, from December 31, 2024, primarily due to maturities of long-term FHLB advances totaling $75.0 million, offset by advances of long-term FHLB advances totaling $50.0 million. These borrowings were replaced with brokered deposits during the quarter. Additionally, customer repurchase agreements decreased $4.9 million from December 31, 2024.

Other Liabilities

Other liabilities decreased $11.2 million, or 17.2%, from December 31, 2024, primarily due to a decrease in accrued interest payable on time deposits and to the payment of previously accrued annual incentive compensation.

Shareholders’ Equity

The following table presents total shareholders’ equity at the dates indicated:

(Dollars in thousands)At June 30, 2025At December 31, 2024ChangeAmountPercentCommon stock$157,784 $157,784 $— — %Additional paid-in capital301,640 302,829 (1,189)(0.4)Retained earnings555,403 525,780 29,623 5.6 Accumulated other comprehensive loss(34,969)(43,992)9,023 (20.5)Treasury stock(63,125)(55,100)(8,025)14.6 Total shareholders’ equity$916,733 $887,301 $29,432 3.3 %

57

Total shareholders' equity increased