Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 114

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 114
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 December 31, 2024, of which $2.3 billion and $2.1 billion was available as of March 31, 2025 and December 31, 2024, respectively. The Corporation, through the Bank, also maintained uncommitted funding sources from correspondent banks of $468.0 million at March 31, 2025 and December 31, 2024. Future availability under these lines is subject to the prerogatives of the granting banks and may be withdrawn at will.Long-term advances with the FHLB of Pittsburgh mature as follows:(Dollars in thousands)As of March 31, 2025Weighted Average RateRemainder of 2025$25,000 4.20 %2026100,000 4.29 202725,000 3.99 202825,000 4.61 2029— — Thereafter— — Total$175,000 4.28 %

Note 8. Retirement Plans and Other Postretirement Benefits

Information with respect to the Retirement Plans and Other Postretirement Benefits follows:  Three Months Ended March 31, 2025202420252024(Dollars in thousands)Retirement PlansOther Post RetirementBenefitsService cost$132 $148 $11 $14 Interest cost604 592 27 27 Expected loss on plan assets(891)(871)— — Amortization of net actuarial loss (gain)63 175 (11)(28)Net periodic benefit (income) cost$(92)$44 $27 $13 The components of net periodic benefit cost, other than the service cost component, are included in other noninterest expense in the condensed consolidated statements of income.The Corporation expects to make total contributions of $156 thousand to the Retirement Plans and $107 thousand to Other Postretirement Benefit Plans in 2025. During the three months ended March 31, 2025, the Corporation contributed $39 thousand to its Retirement Benefit Plans and $23 thousand to its Other Postretirement Benefit Plans. During the three months ended March 31, 2025, $706 thousand was paid to participants from the Retirement Plans and $23 thousand was paid to participants from the Other Postretirement Benefit Plans.

Note 9. Stock-Based Incentive Plan

On April 26, 2023, the 2023 Equity Incentive Plan (