Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 128

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 128
---
 valuation allowance of $21 thousand and $7 thousand on servicing rights at June 30, 2025 and December 31, 2024, respectively.

28

The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2025 and the succeeding fiscal years is as follows:Year(Dollars in thousands)AmountRemainder of 2025$208 2026318 2027216 2028161 2029105 Thereafter50 Total$1,058 The aggregate fair value of servicing rights was $11.4 million and $12.7 million at June 30, 2025 and December 31, 2024, respectively. The fair value of these rights was determined using a discount rate of 11.1% and 11.0% at June 30, 2025 and December 31, 2024, respectively. Changes in the servicing rights balance are summarized as follows: Three Months Ended June 30,Six Months Ended June 30,(Dollars in thousands)2025202420252024Beginning of period$6,872 $5,681 $6,990 $8,982 Servicing rights capitalized464 537 747 963 Amortization of servicing rights(432)(136)(814)(477)Sold servicing rights— — — (3,466)Changes in valuation allowance5 1 (14)81 End of period$6,909 $6,083 $6,909 $6,083 Loans serviced for others$1,049,499 $933,873 $1,049,499 $933,873 Activity in the valuation allowance for servicing rights was as follows: Three Months Ended June 30,Six Months Ended June 30,(Dollars in thousands)2025202420252024Valuation allowance, beginning of period$(26)$(18)$(7)$(98)Additions— — (14)— Reductions5 1 — 81 Valuation allowance, end of period$(21)$(17)$(21)$(17)The estimated amortization expense of servicing rights for the remainder of 2025 and the succeeding fiscal years is as follows:Year(Dollars in thousands)AmountRemainder of 2025$1,118 2026941 2027794