Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 135

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 135
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. At June 30, 2025, the fair value of the Corporation's interest rate swap credit derivatives was a liability of $79 thousand. At June 30, 2025, the fair value of the swaps to the customers was a net gain of $31.1 million. At June 30, 2025, the Corporation's credit exposure related to customers totaled $4.0 million.The maximum potential payments by the Corporation to the third-party financial institution under these credit derivatives are not estimable as they are contingent on future interest rates and the agreements do not provide for a limitation of the maximum potential payment amount.Mortgage Banking DerivativesDerivative loan commitments represent agreements for delayed delivery of financial instruments in which the buyer agrees to purchase, and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. The Corporation’s derivative loan commitments are commitments to sell loans secured by 1- to 4-family residential properties whose predominant risk characteristic is interest rate risk.Derivatives TablesThe Corporation had no derivatives designated as hedging instruments recorded on the condensed consolidated balance sheets at June 30, 2025 or December 31, 2024. The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the condensed consolidated balance sheets at June 30, 2025 and December 31, 2024:  Derivative AssetsDerivative Liabilities(Dollars in thousands)NotionalAmountBalance SheetClassificationFairValueBalance SheetClassificationFairValueAt June 30, 2025Credit derivatives$839,335  $— Other liabilities$79 Interest rate locks with customers31,973 Other assets359  — Forward loan sale commitments49,747  — Other liabilities51 Total$921,055 $359 $130 At December 31, 2024Credit derivatives$860,423 $— Other liabilities$67 Interest rate locks with customers23,291 Other assets214  — Forward loan sale commitments39,944 Other assets12  — Total$923,658 $226 $67 

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The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:Statement of IncomeClassificationThree Months EndedSix Months EndedJune 30,June 30,(Dollars in thousands)2025202420252024