Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 49

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 49
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,722 Total available-for-sale securities— 366,421 — 366,421 Equity securities:Money market mutual funds1,801 — — 1,801 Total equity securities1,801 — — 1,801 Loans held for sale— 17,774 — 17,774 Interest rate locks with customers*— 359 — 359 Total assets$1,801 $384,554 $— $386,355 Liabilities:Credit derivatives*$— $— $79 $79 Forward loan sale commitments*— 51 — 51 Total liabilities$— $51 $79 $130 * Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."The $79 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which is obtained from real-time financial market data, of 134 interest rate swaps with a notional amount of $839.3 million. The June 30, 2025 CVA was calculated using a 40% loss given default rate on the most recent investment grade credit curve. At December 31, 2024(Dollars in thousands)Level 1Level 2Level 3Assets/Liabilities atFair ValueAssets:Available-for-sale securities:State and political subdivisions$— $1,295 $— $1,295 Residential mortgage-backed securities— 283,381 — 283,381 Collateralized mortgage obligations— 1,685 — 1,685 Corporate bonds— 71,000 — 71,000 Total available-for-sale securities— 357,361 — 357,361 Equity securities:Money market mutual funds2,506 — — 2,506 Total equity securities2,506 — — 2,506 Loans held for sale— 16,653 — 16,653 Interest rate locks with customers*— 214 — 214 Forward loan sale commitments*— 12 — 12 Total assets$2,506 $374,240 $— $376,746 Liabilities:Contingent consideration liability$— $— $635 $635 Credit derivatives*— — 67 67 Total liabilities$— $