Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 47

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 1
Chunk 47
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 31, 2024Credit derivatives$860,423 $— Other liabilities$67 Interest rate locks with customers23,291 Other assets214  — Forward loan sale commitments39,944 Other assets12  — Total$923,658 $226 $67 The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:Statement of IncomeClassificationThree Months EndedNine Months EndedSeptember 30,September 30,(Dollars in thousands)2025202420252024Interest rate swap—cash flow hedge—net interest paymentsInterest expense$— $(575)$— $(3,747)Reclassification adjustment included in earnings (1)Interest income(577)(370)(1,711)(370)Total net loss$(577)$(945)$(1,711)$(4,117)(1) Represents reclassification to earnings as a reduction to interest income of amounts included in accumulated other comprehensive income on the condensed consolidated balance sheet related to the interest rate swap terminated on August 2, 2024.The following table presents amounts included in the condensed consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:Statement of Income ClassificationThree Months EndedNine Months EndedSeptember 30,September 30,(Dollars in thousands)2025202420252024Credit derivativesOther noninterest income$347 $22 $500 $360 Interest rate locks with customersNet (loss) gain on mortgage banking activities(56)(169)90 (139)Forward loan sale commitmentsNet gain (loss) on mortgage banking activities37 63 (26)352 Total net gain (loss)$328 $(84)$564 $573 

37

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at September 30, 2025 and December 31, 2024:(Dollars in thousands)Accumulated Other Comprehensive (Loss) IncomeAt September 30, 2025At December 31, 2024Interest rate swap—cash flow hedge (1)Fair value, net of taxes$(1,070)$(2,422)Total$(1,070)$(2,422)(1) The interest rate swap was terminated on August 2, 2024. This after-tax amount will be reclassified to earnings as a reduction to interest income over