Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 91

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 91
---
 income (expense)224,038 20 — (5,761)218,297 Noninterest income30,342 27,695 19,930 (82)77,885 Total revenue254,380 27,715 19,930 (5,843)296,182 Provision for credit losses12,198 — — — 12,198 Less: (1)Salaries, benefits and commissions68,867 14,215 12,959 19,765 115,806 Net occupancy8,684 244 600 665 10,193 Equipment3,548 53 89 214 3,904 Data processing11,764 1,111 555 1,785 15,215 Professional fees4,897 490 65 3,880 9,332 Marketing and advertising1,623 120 61 658 2,462 Deposit insurance premiums3,075 — — — 3,075 Intangible expenses514 96 683 — 1,293 Restructuring charges184 — — — 184 Other segment items (2)18,608 2,637 735 3,330 25,310 Intersegment expense (revenue) (3)26,942 843 889 (28,674)— Income (expense) before income taxes$93,476 $7,906 $3,294 $(7,466)$97,210 Net capital expenditures$(2,474)$534 $82 $234 $(1,624)(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.(2) Other segment items for each reportable segment includes:Banking - loan and lease financing related fees, deposit and card service fees, and certain overhead expenses.Wealth Management - referral fees, clearing broker fees, and certain overhead expenses.Insurance - certain overhead expenses.Other - Board of Director fees, retirement costs, and certain overhead expenses.(3) Includes an allocation of general and administrative expenses from both the parent holding company and the Bank.The following tables show significant components of segment net assets as of December 31, 2024 and 2023.At December 31, 2024(Dollars in thousands)BankingWealth ManagementInsuranceOtherConsolidatedOther segment disclosures: