Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 50

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 50
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— $702 $702 * Such financial instruments are recorded at fair value as further described in Note 11, "Derivative Instruments and Hedging Activities."

37

The $67 thousand of credit derivatives liability represented the CVA, which is obtained from real-time financial market data, of 135 interest rate swaps with a current notional amount of $860.4 million. The December 31, 2024 CVA was calculated using a 40% loss given default rate on the most recent investment grade credit curve.The contingent consideration liability resulting from the Sheaffer acquisition was calculated using a discount rate of 8.3% on the acquisition date. During the six months ended June 30, 2025, the Corporation paid $635 thousand in contingent consideration related to this acquisition. There was no contingent consideration liability at June 30, 2025. During the year ended December 31, 2024, the Corporation paid $635 thousand in contingent consideration related to this acquisition. The contingent consideration liability was $635 thousand at December 31, 2024.The following table includes a roll forward of credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the six months ended June 30, 2025 and 2024:    Six Months Ended June 30, 2025(Dollars in thousands)Balance atDecember 31,2024AdditionsIncrease in valueBalance at June 30, 2025Credit derivatives$(67)$(164)$152 $(79)Net total $(67)$(164)$152 $(79) Six Months Ended June 30, 2024(Dollars in thousands)Balance atDecember 31,2023AdditionsIncrease in valueBalance at June 30, 2024Credit derivatives$(186)$(268)$338 $(116)Net total$(186)$(268)$338 $(116)The following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the six months ended June 30, 2025 and 2024: Six Months Ended June 30, 2025(Dollars in thousands)Balance atDecember 31,2024Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at June 30, 2025Paul I. Sheaffer Insurance Agency$635 $635