Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 192

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 192
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 10,469 4.79 Total interest-bearing liabilities5,591,534 92,800 3.35 5,371,827 95,947 3.59 Noninterest-bearing deposits1,398,396 1,396,917 Operating lease liabilities30,236 33,774 Accrued expenses and other liabilities57,382 62,981 Total liabilities7,077,548 6,865,499 Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")6,989,930 2.68 6,768,744 2.85 Shareholders’ Equity:Common stock157,784 157,784 Additional paid-in capital301,830 300,052 Retained earnings and other equity443,092 385,723 Total shareholders’ equity902,706 843,559 Total liabilities and shareholders’ equity$7,980,254 $7,709,058 Net interest income$117,124 $103,061 Net interest spread2.28 1.93 Effect of net interest-free funding sources0.86 0.93 Net interest margin3.14 %2.86 %Ratio of average interest-earning assets to average interest-bearing liabilities134.37 %134.91 %

*Obligations of states and political subdivisions are tax-exempt earning assets.

Notes:   For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. 

Net interest income includes net deferred costs amortization of $1.2 million for the six months ended June 30, 2025 and 2024.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the six months ended June 30, 2025 and 2024 have been calculated using the Corporation's federal applicable rate of 21%.

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Table 2—Analysis of Changes in Net Interest Income

The rate-volume variance analysis set forth in the table below compares changes in tax-equivalent net interest income for the periods indicated by their rate and volume components. The change in interest income/expense due to both volume and rate has been allocated proportionately.

Three Months EndedSix Months Ended June 30, 2025 Versus 2024June 30, 2025 Versus 2024(D