Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 37

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 37
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 2024$138,476 $15,434 $21,600 $175,510 Addition to goodwill from acquisitions— — — — Balance at June 30, 2025$138,476 $15,434 $21,600 $175,510 The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:At June 30, 2025At December 31, 2024(Dollars in thousands)Gross Carrying AmountAccumulated Amortization (1)Net Carrying AmountGross Carrying AmountAccumulated Amortization (1)Net Carrying AmountAmortized intangible assets:Core deposit intangibles$5,268 $5,172 $96 $6,788 $6,597 $191 Customer related intangibles2,476 1,514 962 2,476 1,348 1,128 Servicing rights12,632 5,723 6,909 12,274 5,284 6,990 Total amortized intangible assets$20,376 $12,409 $7,967 $21,538 $13,229 $8,309 (1) Included within accumulated amortization is a valuation allowance of $21 thousand and $7 thousand on servicing rights at June 30, 2025 and December 31, 2024, respectively.

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The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2025 and the succeeding fiscal years is as follows:Year(Dollars in thousands)AmountRemainder of 2025$208 2026318 2027216 2028161 2029105 Thereafter50 Total$1,058 The aggregate fair value of servicing rights was $11.4 million and $12.7 million at June 30, 2025 and December 31, 2024, respectively. The fair value of these rights was determined using a discount rate of 11.1% and 11.0% at June 30, 2025 and December 31, 2024, respectively