Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 45

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 45
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- to 4-family residential properties whose predominant risk characteristic is interest rate risk.Derivatives TablesThe Corporation had no derivatives designated as hedging instruments recorded on the condensed consolidated balance sheets at June 30, 2025 or December 31, 2024. The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the condensed consolidated balance sheets at June 30, 2025 and December 31, 2024:  Derivative AssetsDerivative Liabilities(Dollars in thousands)NotionalAmountBalance SheetClassificationFairValueBalance SheetClassificationFairValueAt June 30, 2025Credit derivatives$839,335  $— Other liabilities$79 Interest rate locks with customers31,973 Other assets359  — Forward loan sale commitments49,747  — Other liabilities51 Total$921,055 $359 $130 At December 31, 2024Credit derivatives$860,423 $— Other liabilities$67 Interest rate locks with customers23,291 Other assets214  — Forward loan sale commitments39,944 Other assets12  — Total$923,658 $226 $67 

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The following table presents amounts included in the condensed consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:Statement of IncomeClassificationThree Months EndedSix Months EndedJune 30,June 30,(Dollars in thousands)2025202420252024Interest rate swap—cash flow hedge—net interest paymentsInterest expense$— $1,586 $— $3,172 Reclassification adjustment included in earnings (1)Interest income(569)— (1,134)— Total net loss$(569)$(1,586)$(1,134)$(3,172)(1) Represents reclassification to earnings as a reduction to interest income of amounts included in accumulated other comprehensive income on the condensed consolidated balance sheet related to the interest rate swap terminated on August 2, 2024.The following table presents amounts included in the condensed consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:Statement of Income ClassificationThree Months EndedSix Months EndedJune 30,June 30,(Dollars in thousands)2025202420252024Credit derivativesOther noninterest income$135 $111 $152 $338 Interest rate