Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 77

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 77
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 (25,398)(0.4)Allowance for credit losses, loans and leases(86,989)(87,091)102 (0.1)Premises and equipment, net47,140 46,671 469 1.0 Operating lease right-of-use assets27,278 28,531 (1,253)(4.4)Goodwill and other intangibles, net183,477 183,819 (342)(0.2)Bank owned life insurance140,086 139,351 735 0.5 Accrued interest receivable and other assets115,581 112,098 3,483 3.1         Total assets$7,939,056 $8,128,417 $(189,361)(2.3)%

Cash and Interest-Earning Deposits

Cash and interest-earning deposits decreased $168.5 million, or 51.2%, from December 31, 2024, primarily due to a decrease in interest-earning deposits at the Federal Reserve Bank of $174.1 million due to decreases in deposits and long-term debt.

Investment Securities

Total investment securities at June 30, 2025 increased $2.7 million, or 0.5%, from December 31, 2024. Purchases of $25.9 million, which were primarily residential mortgage-backed securities, increases in the fair value of available-for-sale investment securities of $10.2 million and a reversal of provision for credit losses of $822 thousand were partially offset by maturities and pay-downs of $30.8 million, sales of $3.0 million and net amortization of purchased premiums and discounts of $494 thousand.

Loans and Leases

Gross loans and leases held for investment decreased $25.4 million, or 0.4%, from December 31, 2024. The decrease in gross loans and leases held for investment was primarily due to decreases in commercial real estate, residential mortgage loans and lease financings, partially offset by increases in commercial, construction and home equity loans. For more information on the composition of the commercial loan portfolio, see "Table 4 - Loan Portfolio Overview."

Asset Quality

The Bank's strategy for credit risk management focuses on having well-defined credit policies and uniform underwriting criteria and providing prompt attention to potential problem loans and leases. Performance of the loan and lease portfolio is monitored on a regular basis by Bank