Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 172

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 172
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 There can be no assurance that future impairment assessments or tests will not result in a charge to earnings.

Liabilities

The following table presents liabilities at the dates indicated:

(Dollars in thousands)At June 30, 2025At December 31, 2024ChangeAmountPercentDeposits$6,582,660 $6,759,259 $(176,599)(2.6 %)Short-term borrowings6,271 11,181 (4,910)(43.9)Long-term debt200,000 225,000 (25,000)(11.1)Subordinated notes149,511 149,261 250 0.2 Operating lease liabilities30,106 31,485 (1,379)(4.4)Accrued interest payable and other liabilities53,775 64,930 (11,155)(17.2)Total liabilities$7,022,323 $7,241,116 $(218,793)(3.0 %)

Deposits

Total deposits decreased $176.6 million, or 2.6%, from December 31, 2024, primarily due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. At June 30, 2025, noninterest bearing deposits totaling $1.5 billion represented 22.2% of total deposits compared to $1.4 billion representing 20.9% of total deposits at December 31, 2024. At June 30, 2025 and December 31, 2024, unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.5 billion, which represented 23.0% and 22.0% of total deposits at the respective periods.

Borrowings

Total borrowings decreased $29.7 million, or 7.7%, from December 31, 2024, primarily due to maturities of long-term FHLB advances totaling $75.0 million, offset by advances of long-term FHLB advances totaling $50.0 million. These borrowings were replaced with brokered deposits during the quarter. Additionally, customer repurchase agreements decreased $4.9 million from December 31, 2024.

Other Liabilities

Other liabilities decreased $11.2 million, or 17.2%, from December 31, 2024, primarily due to a decrease in accrued