Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 32

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 32
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 (34,443)— 251,316 299,848 131 (35,427)— 264,552 Collateralized mortgage obligations:After 5 years to 10 years241 — (11)— 230 Over 10 years1,960 — (189)— 1,771 2,201 — (200)— 2,001 Corporate bonds:Within 1 year18,011 1 (176)(27)17,809 After 1 year to 5 years13,339 23 (671)(43)12,648 After 5 years to 10 years60,000 — (7,097)(661)52,242 91,350 24 (7,944)(731)82,699 Total$395,727 $155 $(43,598)$(731)$351,553 Gross unrealized gains and losses on available-for-sale securities are recognized in accumulated other comprehensive income (loss) and changes in the allowance for credit loss are recorded in provision for credit loss expense. Expected maturities may differ from contractual maturities because debt issuers may have the right to call or prepay obligations without call or prepayment penalties and mortgage-backed securities typically prepay at a rate faster than contractually due. Securities with a carrying value of $424.8 million and $464.0 million at December 31, 2024 and 2023, respectively, were pledged to secure public funds deposits and contingency funding. There were no pledged securities to secure credit derivatives and interest rate swaps at December 31, 2024 or 2023. The following table presents information related to sales of securities available-for-sale during the years ended December 31, 2024, 2023 and 2022: For the Years Ended December 31,(Dollars in thousands)202420232022Securities available-for-sale:Proceeds from sales$505 $— $1,530 Gross realized gains on sales18 — 30 Tax expense related to net realized gains on sales4 — 6 At December 31, 2024 and 2023, there were no reportable investments in any single issuer representing more than 10% of shareholders' equity.

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The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at December