Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 195

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 2
Chunk 195
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602 141,124 3.34 5,478,273 149,181 3.64 Noninterest-bearing deposits1,405,339 1,383,707 Operating lease liabilities30,056 33,389 Accrued expenses and other liabilities55,583 62,586 Total liabilities7,141,580 6,957,955 Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")7,055,941 2.67 6,861,980 2.90 Shareholders’ Equity:Common stock157,784 157,784 Additional paid-in capital301,908 300,224 Retained earnings and other equity450,006 392,551 Total shareholders’ equity909,698 850,559 Total liabilities and shareholders’ equity$8,051,278 $7,808,514 Net interest income$178,860 $156,553 Net interest spread2.30 1.92 Effect of net interest-free funding sources0.85 0.93 Net interest margin3.15 %2.85 %Ratio of average interest-earning assets to average interest-bearing liabilities134.17 %134.04 %

*Obligations of states and political subdivisions are tax-exempt earning assets.

Notes:   For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. 

Net interest income includes net deferred costs amortization of $1.9 million and $2.0 million for the nine months ended September 30, 2025 and 2024, respectively.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances. Tax-equivalent amounts for the nine months ended September 30, 2025 and 2024 have been calculated using the Corporation's federal applicable rate of 21%.

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Table 2—Analysis of Changes in Net Interest Income

The rate-volume variance analysis set forth in the table below compares changes in tax-equivalent net interest income for the periods indicated by their rate and volume components. The change in interest income/expense due to both volume and rate has been allocated proportionately.

Three Months EndedNine Months Ended September 30, 2025 Versus 2024September 30, 2025 Versus 2024(Dollars in thousands)VolumeChangeRateChange