Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 68

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 68
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.98 428,449 5,300 4.98 Total interest-bearing liabilities5,568,354 46,165 3.33 5,397,431 48,805 3.64 Noninterest-bearing deposits1,420,143 1,384,770 Operating lease liabilities29,802 33,382 Accrued expenses and other liabilities52,640 61,385 Total liabilities7,070,939 6,876,968 Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")6,988,497 2.65 6,782,201 2.89 Shareholders’ Equity:Common stock157,784 157,784 Additional paid-in capital301,016 299,426 Retained earnings and other equity449,736 387,362 Total shareholders’ equity908,536 844,572 Total liabilities and shareholders’ equity$7,979,475 $7,721,540 Net interest income$59,957 $51,311 Net interest spread2.34 1.91 Effect of net interest-free funding sources0.86 0.93 Net interest margin3.20 %2.84 %Ratio of average interest-earning assets to average interest-bearing liabilities134.91 %134.43 %

*Obligations of states and political subdivisions are tax-exempt earning assets.

Notes:   For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. 

Net interest income includes net deferred costs amortization of $689 thousand and $698 thousand for the three months ended June 30, 2025 and 2024, respectively.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the three months ended June 30, 2025 and 2024 have been calculated using the Corporation's federal applicable rate of 21%.

49

 Six Months Ended June 30, 20252024(Dollars in thousands)AverageBalanceIncome/ExpenseAverageRateAverageBalanceIncome/ExpenseAverageRateAssets:Interest-earning deposits with other banks$125,725 $2,731 4.38 %$102,696 $2,717 5.32 %Obligations of states and political subdivisions*437 4