Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 174

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 174
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 Management's Discussion and Analysis under the headings "Results of Operations" and "Financial Condition" for a discussion of key items impacting the Banking Segment. 

The Wealth Management segment reported pre-tax income of $1.8 million and $827 thousand for the three months ended June 30, 2025 and 2024, respectively, which included noninterest income of $7.7 million in 2025 and $6.8 million in 2024 and pre-tax income of $3.8 million and $2.8 million for the six months ended June 30, 2025 and 2024, respectively, which included noninterest income of $15.5 million in 2025 and $14.1 million in 2024. The increase in pre-tax income for the three and six months ended June 30, 2025 was primarily due to new customer relationships and appreciation of assets under management and supervision. Assets under management and supervision were $5.4 billion as of June 30, 2025, $5.2 billion as of March 31, 2025, $5.0 billion as of June 30, 2024 and $4.7 billion as of March 31, 2024. 

The Insurance segment reported pre-tax income of $964 thousand and $1.1 million for the three months ended June 30, 2025 and 2024, respectively, which included noninterest income of $5.3 million in 2025 and $5.2 million in 2024 and pre-tax income of $3.4 million and $4.2 million for the six months ended June 30, 2025 and 2024, respectively, which included noninterest income of $12.2 million in 2025 and $12.5 million in 2024. The decrease in noninterest income for the six months ended June 30, 2025 was primarily due to a decrease in contingent income of $701 thousand, which was $1.6 million and $2.3 million for the six months ended June 30, 2025 and 2024, respectively. Contingent income is largely recognized in the first quarter of the year. 

Capital Adequacy

Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum capital amounts and ratios as set forth in the following table. To comply with the regulatory definition of well capitalized, a depository institution must maintain minimum