Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 145

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 145
---
31, 2025, a $2.5 million nonaccrual 

48

residential real estate loan was transferred to other real estate owned. In addition, a $1.2 million commercial loan was placed on nonaccrual status. Individual reserves have been established based on current facts and management's judgments about the ultimate outcome of these credits, including the most recent known data available on any related underlying collateral and the borrower's cash flows. The amount of individual reserve needed for these credits could change in future periods subject to changes in facts and judgments related to these credits.

Net loan and lease charge-offs for the three months ended March 31, 2025 were $1.7 million compared to $1.4 million for the same period in the prior year.

Other real estate owned (OREO) was $22.4 million at March 31, 2025, compared to $20.1 million at December 31, 2024. During the three months ended March 31, 2025, one nonaccrual residential real estate loan with a carrying value of $2.5 million was transferred to OREO. Additionally, during the three months ended March 31, 2025, two residential real estate properties with a total carrying value of $226 thousand were sold. Repossessed assets were $79 thousand and $76 thousand at March 31, 2025 and December 31, 2024, respectively. During the three months ended March 31, 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 March 31, 2025At December 31, 2024Nonaccrual loans and leases held for investment 11,126 12,667 Accruing loans and leases, 90 days or more past due322 321 Total nonperforming loans and leases$11,448 $12,988 Other real estate owned22,433 20,141 Repossessed assets 79 76 Total nonperforming assets$33,960 $33,205 Loans and leases held for investment$6,833,037 $