Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 96

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 96
---
Assets:Cash$132,643 $117,345 Interest-earning deposits with other banks— 321 Cash and cash equivalents132,643 117,666 Investments in securities— 763 Investments in subsidiaries, at equity in net assets:Bank887,188 856,289 Non-banks— — Other assets22,247 17,139 Total assets$1,042,078 $991,857 Liabilities:Subordinated notes$149,261 $148,761 Other liabilities5,516 3,888 Total liabilities154,777 152,649 Shareholders' equity:887,301 839,208 Total liabilities and shareholders' equity$1,042,078 $991,857 

116

(Dollars in thousands)For the Years Ended December 31,Statements of Income202420232022Dividends from Bank$56,283 $18,386 $23,303 Dividends from non-bank— — — Other income24,754 25,000 28,630 Total operating income81,037 43,386 51,933 Interest expense9,125 9,125 5,798 Operating expenses28,266 27,627 30,297 Income before income tax benefit and equity in undistributed income of subsidiaries43,646 6,634 15,838 Income tax benefit(2,733)(2,751)(1,983)Income before equity in undistributed income of subsidiaries46,379 9,385 17,821 Equity in undistributed income of subsidiaries:Bank29,552 61,719 60,299 Non-banks— — — Net income$75,931 $71,104 $78,120 (Dollars in thousands)For the Years Ended December 31,Statements of Cash Flows202420232022Cash flows from operating activities:Net income$75,931 $71,104 $78,120 Adjustments to reconcile net income to net cash provided by operating activities:Equity in undistributed net income of subsidiaries(29,552)(61,719)(60,299)Bank owned life insurance income(122)(118)(116)Depreciation of premises and equipment355 342 346 Stock based compensation4,615 4,194 4,120 Contributions to pension