Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 147

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 147
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 Advocacy Groups65,857 1.2 CRE - Mixed-Use - Commercial64,683 1.2 Miniwarehouse / Self-Storage64,553 1.2 Personal and Laundry Services64,508 1.2 Education62,362 1.2 Amusement, Gambling, and Recreation Industries61,437 1.1 Food Manufacturing56,400 1.0 Industries with >$50 million in outstandings$4,462,306 82.7 %Industries with <$50 million in outstandings$936,324 17.3 %Total Commercial Loans$5,398,630 100.0 %Consumer Loans and Lease FinancingsTotal Outstanding BalanceReal Estate-Residential Secured for Personal Purpose$992,767 Real Estate-Home Equity Secured for Personal Purpose189,119 Loans to Individuals16,930 Lease Financings235,591 Total Consumer Loans and Lease Financings$1,434,407 Total$6,833,037 

Goodwill and Other Intangible Assets

Goodwill and other intangible assets have been recorded on the books of the Corporation in connection with acquisitions. The Corporation has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The amortization of core deposit and customer-related intangibles was $130 thousand and $175 thousand for the three months ended March 31, 2025 and 2024, respectively. See Note 5 to the Condensed Unaudited Consolidated Financial Statements, "Goodwill and Other Intangible Assets," for a summary of intangible assets at March 31, 2025 and December 31, 2024.

The Corporation also has goodwill with a net carrying value of $175.5 million at March 31, 2025 and December 31, 2024, which is deemed to be an indefinite intangible asset and is not amortized. The Corporation completes a goodwill impairment analysis on an annual basis, or more often if events and circumstances indicate that there may be impairment. The Corporation 

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also completes an impairment test for other identifiable intangible assets on an annual basis or more often if events and circumstances indicate there may be impairment. There was no impairment of goodwill or identifiable intangibles during the three months ended March