Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 5

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 5
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635 $1,468,320 Interest-bearing deposits5,344,624 4,907,461 Total deposits6,759,259 6,375,781 Short-term borrowings11,181 6,306 Long-term debt225,000 310,000 Subordinated notes149,261 148,761 Operating lease liabilities31,485 34,851 Accrued interest payable and other liabilities64,930 65,721 Total liabilities7,241,116 6,941,420 SHAREHOLDERS' EQUITYCommon stock, $5 par value: 48,000,000 shares authorized at December 31, 2024 and 2023; 31,556,799 shares issued at December 31, 2024 and 2023; 29,045,877 and 29,511,721 shares outstanding at December 31, 2024 and 2023, respectively157,784 157,784 Additional paid-in capital302,829 301,066 Retained earnings525,780 474,691 Accumulated other comprehensive loss, net of tax benefit(43,992)(50,646)Treasury stock, at cost; 2,510,922 and 2,045,078 shares at December 31, 2024 and 2023, respectively(55,100)(43,687)Total shareholders' equity887,301 839,208 Total liabilities and shareholders' equity$8,128,417 $7,780,628 

See accompanying notes to consolidated financial statements.

54

UNIVEST FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME For the Years Ended December 31,(Dollars in thousands, except per share data)202420232022Interest incomeInterest and fees on loans and leases$383,308 $347,918 $237,156 Interest and dividends on investment securities:Taxable14,909 14,225 11,432 Exempt from federal income taxes33 58 58 Interest on deposits with other banks11,193 6,660 1,920 Interest and dividends on other earning assets2,912 2,869 1,627 Total interest income412,355 371,730 252,193 Interest expenseInterest on demand deposits113,074 87,821 18,845 Interest on savings deposits3,