Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 189

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 2
Chunk 189
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 management and investment services. The Corporation seeks to achieve adequate and reliable earnings through business growth while maintaining adequate levels of capital and liquidity and limiting exposure to credit and interest rate risk. 

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Executive Overview

The Corporation’s consolidated net income, earnings per share and return on average assets and average equity were as follows: 

Three Months EndedNine Months Ended September 30,ChangeSeptember 30,Change(Dollars in thousands, except per share data)20252024AmountPercent20252024AmountPercentNet income$25,639 $18,578 $7,061 38.0 %$68,012 $56,990 $11,022 19.3 %Net income per share:Basic$0.89 $0.64 $0.25 39.1 $2.36 $1.95 $0.41 21.0 Diluted0.89 0.63 0.26 41.3 2.34 1.94 0.40 20.6 Return on average assets1.24 %0.92 %32 BP34.8 1.13 %0.97 %16 BP16.5 Return on average equity11.02 %8.55 %247 BP28.9 10.00 %8.95 %105 BP11.7 

The financial results for the three and nine months ended September 30, 2025 included tax-free bank owned life insurance (BOLI) death benefit claims of $967 thousand and $2.1 million, respectively, which represented $0.03 and $0.07 diluted earnings per share for the respective periods. The financial results for the nine months ended September 30, 2024 included a $3.4 million net gain ($2.7 million after-tax), or $0.09 diluted earnings per share, generated from the sale of mortgage servicing rights associated with $591.1 million of serviced loans in the first quarter of 2024 and tax-free BOLI death benefit claims of $171 thousand, which represented $0.01 diluted earnings per share for the nine months ended September 30, 2024.

Results of Operations

Net Interest Income

Net interest income is the difference between interest earned primarily on loans, leases and investment securities and interest paid on deposits, borrowings, long-term debt and subordinated notes. Net interest income is