Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 72

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 72
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4,116 10,916 Interest expense:Interest-bearing checking deposits817 (328)489 1,065 (1,719)(654)Money market savings695 (2,881)(2,186)2,080 (5,451)(3,371)Regular savings(70)(110)(180)(143)(179)(322)Time deposits1,321 (1,194)127 3,784 (1,181)2,603      Total time and interest-bearing deposits2,763 (4,513)(1,750)6,786 (8,530)(1,744)Short-term borrowings(111)(130)(241)(108)(124)(232)Long-term debt(524)(125)(649)(1,340)169 (1,171)Interest on borrowings(635)(255)(890)(1,448)45 (1,403)Total interest expense2,128 (4,768)(2,640)5,338 (8,485)(3,147)Net interest income$1,398 $7,248 $8,646 $1,462 $12,601 $14,063 

51

Provision for Credit Losses

The provision for credit losses for the three months ended June 30, 2025 and 2024 was $5.7 million and $707 thousand, respectively. The provision for credit losses for the six months ended June 30, 2025 and 2024 was $8.0 million and $2.1 million, respectively. The increase in provision for both periods was primarily driven by a $7.3 million charge-off recorded on a $23.7 million commercial loan relationship. The following table details information pertaining to the Corporation’s allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated. 

(Dollars in thousands)June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024Allowance for credit losses, loans and leases$86,989 $87,790 $87,091 $86,041 $85,745 Loans and leases held for investment6,801,185 6,833,037 6,826,583 6,730,734 6,684,