Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 52

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 52
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 premiums1,135 — — — 1,135 Intangible expense78 — 109 — 187 Other segment items (2)5,080 615 147 990 6,832 Intersegment expense (revenue) (3)5,449 52 123 (5,624)— Income (loss) before income taxes$24,558 $1,929 $3,113 $(4,044)$25,556 Income tax expense (benefit)4,959 413 688 (809)5,251 Net income (loss)$19,599 $1,516 $2,425 $(3,235)$20,305 Net capital expenditures$(1,463)$6 $9 $48 $(1,400)(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.(2) Other segment items for each reportable segment includes:Banking - loan and lease financing related fees, deposit and card service fees, and certain overhead expenses.Wealth Management - referral fees, clearing broker fees, and certain overhead expenses.Insurance - certain overhead expenses.Other - Board of Director fees, retirement costs, and certain overhead expenses.(3) Includes an allocation of general and administrative expenses from both the parent holding company and the Bank.  The following tables show significant components of segment net assets as of March 31, 2025 and December 31, 2024.At March 31, 2025(Dollars in thousands)BankingWealth ManagementInsuranceOtherConsolidatedOther segment disclosures:Cash and cash equivalents$84,832 $50,898 $33,404 $— $169,134 Loans and leases, including loans held for sale, net of allowance for credit losses6,758,397 — — — 6,758,397 Goodwill138,476 15,434 21,600 — 175,510 Other segment assets843,554 2,567 2,597 23,408 872,126 Total segment assets$7,825,259 $68,899 $57,601 $23,408 $7,975,167 

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At December 31, 2024(Dollars in thousands)BankingWealth ManagementInsuranceOtherConsolidatedOther segment disclosures: