Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 171

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 171
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.8 million, $5.4 million and $3.9 million, respectively. The year ended December 31, 2023 included $2.4 million in charge-offs related to two nonaccrual commercial loans to one borrower. The following table details information pertaining to the Corporation's allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated.

At December 31,(Dollars in thousands)202420232022Allowance for credit losses, loans and leases$87,091 $85,387 $79,004 Loans and leases held for investment6,826,583 6,567,214 6,123,230 Allowance for credit losses, loans and leases / loans and leases held for investment1.28 %1.30 %1.29 % 

Noninterest Income

The following table presents noninterest income for the years ended December 31, 2024, 2023 and 2022:

 For the Years Ended December 31,$ Change% Change(Dollars in thousands)2024202320222024 to 20232023 to 20222024 to 20232023 to 2022Trust fee income$8,491 $7,732 $7,743 $759 $(11)9.8 %(0.1)%Service charges on deposit accounts8,082 7,048 6,175 1,034 873 14.7 14.1 Investment advisory commission and fee income21,208 18,864 19,748 2,344 (884)12.4 (4.5)Insurance commission and fee income22,349 21,043 19,065 1,306 1,978 6.2 10.4 Other service fee income14,747 12,381 12,425 2,366 (44)19.1 (0.4)Bank owned life insurance income3,861 3,185 3,787 676 (602)21.2 (15.9)Net gain on sales of investment securities18 — 30 18 (30)N/MN/MNet gain on mortgage banking activities5,265 3,689 4,412 1,576 (723)42.7 (16.4)Other income4,034 2,