Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 122

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 122
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 securities$— $290,166 $— $290,166 Collateralized mortgage obligations— 1,630 — 1,630 Corporate bonds— 72,707 — 72,707 Total available-for-sale securities— 364,503 — 364,503 Equity securities:Money market mutual funds1,667 — — 1,667 Total equity securities1,667 — — 1,667 Loans held for sale— 13,150 — 13,150 Interest rate locks with customers*— 422 — 422 Total assets$1,667 $378,075 $— $379,742 Liabilities:Credit derivatives*$— $— $79 $79 Forward loan sale commitments*— 141 — 141 Total liabilities$— $141 $79 $220 * Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."The $79 thousand of credit derivatives liability represented the Credit Valuation Adjustment (CVA), which is obtained from real-time financial market data, of 135 interest rate swaps with a notional amount of $854.8 million. The March 31, 2025 CVA was calculated using a 40% loss given default rate on the most recent investment grade credit curve. At December 31, 2024(Dollars in thousands)Level 1Level 2Level 3Assets/Liabilities atFair ValueAssets:Available-for-sale securities:State and political subdivisions$— $1,295 $— $1,295 Residential mortgage-backed securities— 283,381 — 283,381 Collateralized mortgage obligations— 1,685 — 1,685 Corporate bonds— 71,000 — 71,000 Total available-for-sale securities— 357,361 — 357,361 Equity securities:Money market mutual funds2,506 — — 2,506 Total equity securities2,506 — — 2,506 Loans held for sale— 16,653 — 16,653 Interest rate locks with customers*— 214 — 214 Forward loan sale commitments*— 12 — 12 Total assets$2,506 $374,240