Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 169

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 169
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 for the three months ended June 30, 2025 were $7.8 million compared to $809 thousand for the same period in the prior year. Net loan and lease charge-offs for the six months ended June 30, 2025 were $9.5 million compared to $2.2 million for the same period in the prior year. The increase in charge-offs for both periods was related to the charge-off of $7.3 million on the previously discussed commercial loan relationship 

Other real estate owned (OREO) was $22.5 million at June 30, 2025, compared to $20.1 million at December 31, 2024. During the six months ended June 30, 2025, one nonaccrual residential real estate loan with a carrying value of $2.5 million was transferred to OREO. Additionally, during the six months ended June 30, 2025, two residential real estate properties with a total carrying value of $226 thousand were sold. Repossessed assets were $80 thousand and $76 thousand at June 30, 2025 and December 31, 2024, respectively. During the six months ended June 30, 2025, repossessed assets of $17 thousand were acquired and repossessed assets totaling $13 thousand were sold.

Table 3—Nonaccrual and Past Due Loans and Leases; Other Real Estate Owned; Repossessed Assets; and Related Ratios

The following table details information pertaining to the Corporation’s nonperforming assets at the dates indicated. 

(Dollars in thousands)At June 30, 2025At December 31, 2024Nonaccrual loans and leases held for investment 27,909 12,667 Accruing loans and leases, 90 days or more past due125 321 Total nonperforming loans and leases$28,034 $12,988 Other real estate owned22,471 20,141 Repossessed assets 80 76 Total nonperforming assets$50,585 $33,205 Loans and leases held for investment$6,801,185 $6,826,583 Allowance for credit losses, loans and leases86,989 87,091 Nonaccrual loans and leases with partial charge-offs2,724 273 Reserves on individually analyzed loans2,808 1,945 Allowance for credit