Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 175

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 8
Chunk 175
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30, 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 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 nine months ended September 30, 2025 or 2024. There can be no assurance that future impairment assessments or tests will not result in a charge to earnings.

Liabilities

The following table presents liabilities at the dates indicated:

(Dollars in thousands)At September 30, 2025At December 31, 2024ChangeAmountPercentDeposits$7,218,143 $6,759,259 $458,884 6.8%Short-term borrowings11,951 11,181 770 6.9 Long-term debt200,000 225,000 (25,000)(11.1)Subordinated notes129,597 149,261 (19,664)(13.2)Operating lease liabilities29,310 31,485 (2,175)(6.9)Accrued interest payable and other liabilities51,396 64,930 (13,534)(20.8)Total liabilities$7,640,397 $7,241,116 $399,281 5.5%

Deposits

Total deposits increased $458.9 million, or 6.8%, from December 31, 2024, primarily due to seasonal increases in public funds deposits and increases in commercial and brokered deposits, partially offset by a decrease in consumer deposits. At September 30, 2025, noninterest bearing deposits totaling $1.4 billion represented 19.3% of total deposits compared to $1.4 billion representing 20.9% of total deposits at December 31, 2024. At September 30, 2025 and December 31, 2024, unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion and $1.5 billion, respectively, which represented 22.0% of total deposits for both periods.

Borrowings

Total borrowings decreased $43.9 million, or 11