Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 170

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 170
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4,052 11,995 12,344 10,533 22,877 Loans to individuals(31)181 150 21 665 686 Tax-exempt loans and leases(20)580 560 (178)72 (106)Lease financings702 1,118 1,820 2,103 131 2,234 Interest and fees on loans and leases13,079 22,289 35,368 34,885 75,170 110,055 Total interest income17,242 23,357 40,599 33,751 85,070 118,821 Interest expense:Interest-bearing checking deposits3,911 5,278 9,189 990 17,668 18,658 Money market savings8,024 8,040 16,064 2,560 47,758 50,318 Regular savings(549)829 280 (256)2,236 1,980 Time deposits20,730 8,557 29,287 10,118 19,553 29,671 Total time and interest-bearing deposits32,116 22,704 54,820 13,412 87,215 100,627 Short-term borrowings(4,072)(2,774)(6,846)3,288 2,418 5,706 Long-term debt(373)1,851 1,478 4,229 3,948 8,177 Subordinated notes— — — 2,591 736 3,327 Interest on borrowings(4,445)(923)(5,368)10,108 7,102 17,210 Total interest expense27,671 21,781 49,452 23,520 94,317 117,837 Net interest income$(10,429)$1,576 $(8,853)$10,231 $(9,247)$984 

35

Provision for Credit Losses

The provision for credit losses for the years ended December 31, 2024, 2023 and 2022 was $5.9 million, $10.8 million and $12.2 million, respectively. Net loan and lease charge-offs for the years ended December 31, 2024, 2023, and 2022 were $3