Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 149

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 149
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 incentive compensation.

Shareholders’ Equity

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

(Dollars in thousands)At March 31, 2025At December 31, 2024ChangeAmountPercentCommon stock$157,784 $157,784 $— — %Additional paid-in capital300,634 302,829 (2,195)(0.7)Retained earnings541,776 525,780 15,996 3.0 Accumulated other comprehensive loss(37,922)(43,992)6,070 (13.8)Treasury stock(58,800)(55,100)(3,700)6.7 Total shareholders’ equity$903,472 $887,301 $16,171 1.8 %

Total shareholders' equity increased $16.2 million, or 1.8%, from December 31, 2024. Retained earnings at March 31, 2025 increased by $16.0 million primarily due to net income of $22.4 million offset by $6.1 million in cash dividends paid during the three months ended March 31, 2025. Accumulated other comprehensive loss decreased by $6.1 million, which was primarily attributable to increases in the fair value of available-for-sale investment securities of $5.6 million, net of tax. Treasury stock increased $3.7 million from December 31, 2024, related to repurchases of 221,760 shares at a cost of $6.5 million, offset by 

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$2.8 million of stock issued under the dividend reinvestment and employee stock purchase plans and stock-based incentive plan activity. 

Discussion of Segments

The Corporation has three operating segments: Banking, Wealth Management and Insurance. Detailed segment information appears in Note 13, "Segment Reporting" included in the Notes to the Condensed Unaudited Consolidated Financial Statements under Item 1 of this Quarterly Report on Form 10-Q. 

The Banking segment reported pre-tax income of $26.1 million and $24.6 million for the three months ended March 31, 2025 and 2024, respectively. See the section of this Management's Discussion and Analysis under the headings "Results of Operations" and "Financial Condition" for a discussion of key items impacting the Banking Segment. 

The Wealth Management segment reported pre-tax income of $2.0 million and $1