Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 71

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 71
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 and purchase accounting adjustments. 

Net interest income includes net deferred costs amortization of $1.2 million for the six months ended June 30, 2025 and 2024.

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 six months ended June 30, 2025 and 2024 have been calculated using the Corporation's federal applicable rate of 21%.

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Table 2—Analysis of Changes in Net Interest Income

The rate-volume variance analysis set forth in the table below compares changes in tax-equivalent net interest income for the periods indicated by their rate and volume components. The change in interest income/expense due to both volume and rate has been allocated proportionately.

Three Months EndedSix Months Ended June 30, 2025 Versus 2024June 30, 2025 Versus 2024(Dollars in thousands)VolumeChangeRateChangeTotalVolumeChangeRateChangeTotalInterest income:Interest-earning deposits with other banks$524 $(261)$263 $544 $(530)$14 Obligations of states and political subdivisions(7)— (7)(12)(3)(15)Other debt and equity securities43 178 221 40 553 593 Federal Home Loan Bank, Federal Reserve Bank and other stock(10)(19)(29)(41)(25)(66)Interest on deposits, investments and other earning assets550 (102)448 531 (5)526 Commercial, financial and agricultural loans421 (182)239 1,295 (559)736 Real estate—commercial and construction loans2,178 1,410 3,588 3,623 2,000 5,623 Real estate—residential loans849 510 1,359 2,137 1,209 3,346 Loans to individuals(240)35 (205)(400)40 (360)Tax-exempt loans and leases(18)508 490 (42)929 887 Lease financings(214)301 87 (344)502 158 Interest and fees on loans and leases2,976 2,582 5,558 6,269 4,121 10,390 Total interest income3,526 2,480 6,006 6,800