Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 177

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 177
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 securities.

Table 3—Investment Securities

The following table shows the carrying amount of investment securities, net of allowance for credit losses, at the dates indicated. Held-to-maturity, available-for-sale and equity security portfolios are combined.

At December 31,(Dollars in thousands)202420232022State and political subdivisions$1,295 $2,301 $2,285 Residential mortgage-backed securities417,492 410,329 418,115 Collateralized mortgage obligations1,685 2,001 2,322 Corporate bonds71,000 82,699 82,261 Equity securities2,506 3,293 2,579 Total investment securities$493,978 $500,623 $507,562 

Table 4—Investment Securities (Yields)

The following table shows the maturity distribution and weighted average yields of investment securities at amortized cost at December 31, 2024. Expected maturities may differ from contractual maturities because debt issuers may have the right to call or prepay obligations without call or prepayment penalties. Therefore, the stated yield may not be recognized in future periods. Additionally, residential mortgage-backed securities, which are collateralized by residential mortgage loans, typically prepay at a rate faster than the stated maturity. The weighted average yield is calculated by dividing income, which has not been tax effected on tax-exempt obligations, within each contractual maturity range by the outstanding amount of the related investment. Held-to-maturity and available-for-sale portfolios are combined, net of allowance for credit losses.

1 Year or lessAfter 1 Year to 5 YearsAfter 5 Years to 10 YearsAfter 10 Years(Dollars in thousands)Amortized CostWeighted Average YieldAmortized CostWeighted Average YieldAmortized CostWeighted Average YieldAmortized CostWeighted Average YieldState and political subdivisions$1,300 2.10 %$— — %$— — %$— — %Residential mortgage-backed securities20 2.81 1,412 2.46 21,469 2.71 433,914 2.80 Collateralized mortgage obligations— — 155 2.62 — — 1,663 1.60 Corporate bonds5,905 2.68 10,924 2.68 60,000 3.94