Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 185

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 185
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 borrowings11,181 6,306 4,875 77.3 Long-term debt225,000 310,000 (85,000)(27.4)Subordinated notes149,261 148,761 500 0.3 Operating lease liabilities31,485 34,851 (3,366)(9.7)Accrued interest payable and other liabilities64,930 65,721 (791)(1.2)  Total liabilities$7,241,116 $6,941,420 $299,696 4.3 %

Deposits

Total deposits increased $383.5 million, or 6.0%, from December 31, 2023, primarily due to increases in consumer, commercial, brokered and public funds deposits. At December 31, 2024, noninterest-bearing deposits totaled $1.4 billion and represented 20.9% of total deposits, compared to $1.5 billion representing 23.0% at December 31, 2023. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.5 billion at December 31, 2024 and 2023. This represented 22.0% of total deposits at December 31, 2024, down from 23.3% at December 31, 2023.

Table 10—Deposits

The following table summarizes the average amount of deposits for the periods indicated:

For the Years Ended December 31,(Dollars in thousands)202420232022Noninterest-bearing deposits$1,380,178 $1,646,286 $2,068,086 Interest-bearing checking deposits1,191,634 1,034,327 884,656 Money market savings1,801,035 1,611,169 1,389,226 Regular savings740,493 871,332 1,056,019 Time deposits1,413,589 931,944 443,845 Total average deposits$6,526,929 $6,095,058 $5,841,832 

At December 31, 2024 and 2023, the Corporation had $3.2 billion and $3.0 billion, respectively, in uninsured deposits in excess of the FDIC insurance limit of $250,000. At December 31, 2024 and