Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 38

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 38
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. 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 2028673 2029570 Thereafter2,813 Total$6,909 

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Note 6. Deposits

Deposits and their respective weighted average interest rate at June 30, 2025 and December 31, 2024 consisted of the following:At June 30, 2025At December 31, 2024Weighted Average Interest RateAmountWeighted Average Interest RateAmount(Dollars in thousands)Noninterest-bearing deposits— %$1,461,189 — %$1,414,635 Demand deposits3.31 2,896,516 3.25 3,186,597 Savings deposits0.45 723,996 0.44 704,321 Time deposits4.04 1,500,959 4.40 1,453,706 Total2.43 %$6,582