Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 183

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 183
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-construction329,218 500 0.15 414,567 206 0.05 312,024 — — Real estate-residential secured for business purpose528,631 (235)(0.04)505,240 (135)(0.03)427,849 (55)(0.01)Real estate-residential secured for personal purpose960,915 (134)(0.01)826,943 — — 626,102 — — Real estate-home equity secured for personal purpose180,579 (46)(0.03)175,395 2 — 168,289 (38)(0.02)Loans to individuals26,645 828 3.11 27,063 426 1.57 26,642 179 0.67 Lease financings247,697 539 0.22 230,466 351 0.15 192,673 210 0.11 Total$6,677,206 $3,802 0.06 %$6,418,664 $5,397 0.08 %$5,651,265 $3,895 0.07 %

During the year ended December 31, 2023, the Corporation recorded charge-offs of $2.4 million related to two nonaccrual commercial loans to one borrower totaling $5.9 million. During the year ended December 31, 2022, the Corporation recorded charge-offs of $3.3 million related to two commercial real estate loans totaling $5.8 million.

Table 9—Allowance for Credit Losses On Loans and Leases

The following table summarizes the allocation of the allowance for credit losses on loans and leases, and the percentage of loans and leases in each major loan category to total loans and leases held for investment at the dates indicated.

At December 31,20242023(Dollars in thousands)ACL% of ACL to Total ACL% of Loans to Total LoansACL% of ACL to Total ACL% of Loans to Total LoansCommercial, financial and agricultural$16,079 18.5 %15.2 %$13,699 16.0 %15.1 %Real estate-commercial46,867 53.8 51.7 45,849 53.7 50.3 Real estate-construction4,924 5