Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 3

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 3
---
 rate swaps used in cash flow hedges:Net unrealized holding losses arising during the period— — — (4,013)(843)(3,170)Less: reclassification adjustment for net losses realized in net income— — — 1,586 333 1,253 Reclassification adjustment recorded in earnings (1)565 119 446 — — — Total net unrealized gains (losses) on interest rate swaps used in cash flow hedges 565 119 446 (2,427)(510)(1,917)Defined benefit pension plans:Amortization of net actuarial gains included in net periodic pension costs (2)52 11 41 147 31 116 Total defined benefit pension plans52 11 41 147 31 116 Other comprehensive income (loss)7,684 1,614 6,070 (5,183)(1,089)(4,094)Total comprehensive income$35,241 $6,776 $28,465 $20,373 $4,162 $16,211 

(1) Represents reclassification to earnings as a reduction to interest income of amounts included in accumulated other comprehensive income on the condensed consolidated balance sheet related to the interest rate swap terminated on August 2, 2024.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 8, "Retirement Plans and Other Postretirement Benefits" for additional details.

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

4

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands, except per share data)CommonSharesOutstandingCommonStockAdditionalPaid-inCapitalRetainedEarningsAccumulatedOtherComprehensiveLossTreasuryStockTotalThree Months Ended March 31, 2025Balance at December 31, 202429,045,877 $157,784 $302,829 $525,780 $(43,992)$(55,100)$887,301 Net income — — — 22,395 — — 22,395 Other comprehensive income, net of income tax— — — — 6,070 — 6,070 Cash