Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 173

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 173
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 interest payable on time deposits and to the payment of previously accrued annual incentive compensation.

Shareholders’ Equity

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

(Dollars in thousands)At June 30, 2025At December 31, 2024ChangeAmountPercentCommon stock$157,784 $157,784 $— — %Additional paid-in capital301,640 302,829 (1,189)(0.4)Retained earnings555,403 525,780 29,623 5.6 Accumulated other comprehensive loss(34,969)(43,992)9,023 (20.5)Treasury stock(63,125)(55,100)(8,025)14.6 Total shareholders’ equity$916,733 $887,301 $29,432 3.3 %

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Total shareholders' equity increased $29.4 million, or 3.3%, from December 31, 2024. Retained earnings at June 30, 2025 increased by $29.6 million primarily due to net income of $42.4 million offset by $12.4 million in cash dividends paid during the six months ended June 30, 2025. Accumulated other comprehensive loss decreased by $9.0 million, which was primarily attributable to increases in the fair value of available-for-sale investment securities of $8.1 million, net of tax. Treasury stock increased $8.0 million from December 31, 2024, related to repurchases of 394,517 shares at a cost of $11.4 million, offset by $3.4 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 $26.6 million and $24.1 million for the three months ended June 30, 2025 and 2024, respectively, and pre-tax income of $52.7 million and $48.6 million for the six months ended June 30, 2025 and 2024, respectively. See the section of this