Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 58

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 58
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. The total borrowing capacity based upon the qualifying pledged commercial loans and held investment securities was $397.2 million and $183.3 million at December 31, 2024 and 2023, respectively. At December 31, 2024 and 2023, the Corporation had no outstanding borrowings under the Discount Window Lending program. The Corporation has a $10.0 million committed line of credit with a correspondent bank. At December 31, 2024 and 2023, the Corporation had no outstanding borrowings under this line.The Corporation and the Bank had $3.7 billion and $3.4 billion of committed borrowing capacity at December 31, 2024 and 2023, respectively, of which $2.1 billion and $1.9 billion was available as of December 31, 2024 and 2023, respectively. The Corporation, through the Bank, also maintained uncommitted funding sources from correspondent banks of $468.0 million 

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and $369.0 million at December 31, 2024 and 2023, respectively. Future availability under these lines is subject to the prerogatives of the granting banks and may be withdrawn at will.Long-term advances with the FHLB of Pittsburgh mature as follows:(Dollars in thousands)As of December 31, 2024Weighted Average Rate2025$75,000 4.46 %2026100,000 4.29 202725,000 3.99 202825,000 4.61 2029— — Thereafter— — Total$225,000 4.35 %Subordinated NotesOn August 5, 2020, the Corporation issued $100.0 million aggregate principal amount of 5.00% fixed-to-floating rate subordinated notes due 2030 (the "2020 Notes") in an underwritten public offering. The net proceeds of the offering approximated $98.4 million. The 2020 Notes bear interest at a fixed rate of 5.00%, payable semi-annually in arrears. The last interest payment date for the fixed rate period will be August 15, 2025. From and including August 15, 2025 to, but excluding, August 15, 2030 or the date of earlier redemption, the Notes will bear interest at an annual floating rate of interest equivalent to the expected Benchmark rate, which is expected