Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 5

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 5
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298,914 $488,790 $(54,740)$(47,079)$843,669 

Note: See accompanying notes to the unaudited condensed consolidated financial statements.

5

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)  Three Months Ended March 31,(Dollars in thousands)20252024Cash flows from operating activities:Net income$22,395 $20,305 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses2,311 1,432 Depreciation of premises and equipment1,351 1,341 Net amortization of investment securities premiums and discounts229 262 Amortization, fair market value adjustments and capitalization of servicing rights118 3,302 Net gain on mortgage banking activities(647)(939)Bank owned life insurance income(1,959)(842)Stock-based compensation1,067 1,025 Intangible expenses130 187 Other adjustments to reconcile net income to cash used in operating activities(480)(710)Originations of loans held for sale(37,126)(48,450)Proceeds from the sale of loans held for sale41,441 47,981 Contributions to pension and other postretirement benefit plans(62)(63)Increase in accrued interest receivable and other assets(4,472)(6,998)Decrease in accrued interest payable and other liabilities(8,693)(6,265)Net cash provided by operating activities15,603 11,568 Cash flows from investing activities:Proceeds from sale of premises and equipment83 2,440 Purchases of premises and equipment(1,948)(1,040)Proceeds from maturities, calls and principal repayments of securities held-to-maturity3,140 3,308 Proceeds from maturities, calls and principal repayments of securities available-for-sale11,429 8,628 Purchases of investment securities held-to-maturity— (1,100)Purchases of investment securities available-for-sale(11,565)(11,059)Proceeds from sales of equity securities1,981 616 Purchases of money market mutual funds(1,142)(714)Net decrease in other investments3,248 3,105 Net increase in loans and leases(10,393)(12,965)Proceed