Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 56

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 56
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,517 9,662 Current income tax receivable 582 551 Net deferred tax assets21,295 21,793 Other11,072 7,633 Total accrued interest receivable and other assets$112,098 $95,203 

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Note 9.     Deposits

Deposits and their respective weighted average interest rate at December 31, 2024 and 2023 consisted of the following:December 31,20242023Weighted Average Interest RateAmountWeighted Average Interest RateAmount(Dollars in thousands)Noninterest-bearing deposits— %$1,414,635 — %$1,468,320 Demand deposits3.25 3,186,597 3.34 2,973,784 Savings deposits0.44 704,321 0.48 779,885 Time deposits4.40 1,453,706 4.22 1,153,792 Total2.52 %$6,759,259 2.38 %$6,375,781 Deposits are insured up to applicable limits set by the Deposit Insurance Fund of the FDIC, which is currently $250 thousand per account owner. The aggregate amount of time deposits in denominations over $250 thousand was $276.0 million and $187.0 million at December 31, 2024 and 2023, respectively. At December 31, 2024, the scheduled maturities of time deposits were as follows:     Year(Dollars in thousands)AmountDue in 2025$1,029,607 Due in 2026104,274 Due in 2027133,305 Due in 2028147,193 Due in 202938,545 Thereafter782 Total$1,453,706 

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Note 10.     Borrowings

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.    Balance at End of YearWeighted Average Interest RateMaximum Amount Outstanding at Month End During the YearAverage Amount Outstanding During the YearWeighted Average Interest Rate During the Year(Dollars in thousands)2024Short-term borrowings:FHLB borrowings$— — %$16,000 $201 5.79 %Federal funds purchased— —