Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 204

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 204
---
 or 7.7%, from December 31, 2024, primarily due to maturities of long-term FHLB advances totaling $75.0 million, offset by advances of long-term FHLB advances totaling $50.0 million. These borrowings were replaced with brokered deposits during the quarter. Additionally, customer repurchase agreements decreased $4.9 million from December 31, 2024.

Other Liabilities

Other liabilities decreased $11.2 million, or 17.2%, from December 31, 2024, primarily due to a decrease in accrued interest payable on time deposits and to the payment of previously accrued annual incentive compensation.

Shareholders’ Equity

The following table presents total shareholders’ equity at the dates indicated:

(Dollars in thousands)At June 30, 2025At December 31, 2024ChangeAmountPercentCommon stock$157,784 $157,784 $— — %Additional paid-in capital301,640 302,829 (1,189)(0.4)Retained earnings555,403 525,780 29,623 5.6 Accumulated other comprehensive loss(34,969)(43,992)9,023 (20.5)Treasury stock(63,125)(55,100)(8,025)14.6 Total shareholders’ equity$916,733 $887,301 $29,432 3.3 %

57

Total shareholders' equity increased $29.4 million, or 3.3%, from December 31, 2024. Retained earnings at June 30, 2025 increased by $29.6 million primarily due to net income of $42.4 million offset by $12.4 million in cash dividends paid during the six months ended June 30, 2025. Accumulated other comprehensive loss decreased by $9.0 million, which was primarily attributable to increases in the fair value of available-for-sale investment securities of $8.1 million, net of tax. Treasury stock increased $8.0 million from December 31, 2024, related to repurchases of 394,517 shares at a cost of $11.4 million, offset by $3.4 million of stock issued under the dividend reinvestment and employee stock purchase plans and stock-based incentive plan activity. 

Discussion of Segments

The Corporation has three operating segments: Banking, Wealth Management and Insurance.