Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 190

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 190
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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 1.85 1,610 19 2.37 Other debt and equity securities498,201 7,981 3.23 495,451 7,388 3.00 Federal Home Loan Bank, Federal Reserve Bank and other stock37,134 1,358 7.37 38,201 1,424 7.50 Total interest-earning deposits, investments and other interest-earning assets661,497 12,074 3.68 637,958 11,548 3.64 Commercial, financial and agricultural loans998,363 34,706 7.01 959,132 33,970 7.12 Real estate—commercial and construction loans3,698,214 106,841 5.83 3,562,174 101,218 5.71 Real estate—residential loans1,728,259 43,314 5.