Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 61

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 61
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 credit losses for the three months ended March 31, 2025 and 2024 was $2.3 million and $1.4 million, respectively. The following table details information pertaining to the Corporation’s allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated. 

(Dollars in thousands)March 31, 2025December 31, 2024September 30, 2024June 30, 2024March 31, 2024Allowance for credit losses, loans and leases$87,790 $87,091 $86,041 $85,745 $85,632 Loans and leases held for investment6,833,037 6,826,583 6,730,734 6,684,837 6,579,086 Allowance for credit losses, loans and leases / loans and leases held for investment1.28 %1.28 %1.28 %1.28 %1.30 %

Noninterest Income

The following table presents noninterest income for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31,Change(Dollars in thousands)20252024AmountPercentTrust fee income$2,161 $2,108 $53 2.5 %Service charges on deposit accounts2,194 1,871 323 17.3 Investment advisory commission and fee income5,613 5,194 419 8.1 Insurance commission and fee income6,889 7,201 (312)(4.3)Other service fee income2,707 6,415 (3,708)(57.8)Bank owned life insurance income1,959 842 1,117 132.7 Net gain on mortgage banking activities647 939 (292)(31.1)Other income245 1,025 (780)(76.1)Total noninterest income$22,415 $25,595 $(3,180)(12.4 %)

Three months ended March 31, 2025 versus 2024 

Noninterest income for the three months ended March 31, 2025 was $22.4 million, a decrease of $3.2 million, or 12.4%, from the three months ended March 31, 2024. 

Other