Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 110

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 110
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ase FinancingsThe following presents the schedule of minimum lease payments receivable:(Dollars in thousands)At March 31, 2025At December 31, 20242025 (excluding the three months ended March 31, 2025)$69,751 $91,125 202679,525 76,977 202759,373 56,881 202835,631 32,899 202914,327 12,101 Thereafter2,896 1,964 Total future minimum lease payments receivable261,503 271,947 Plus: Unguaranteed residual1,425 1,485 Plus: Initial direct costs2,981 3,156 Less: Imputed interest(30,318)(31,927)Lease financings$235,591 $244,661 

Note 5. Goodwill and Other Intangible Assets

The Corporation has goodwill from acquisitions which is deemed to be an indefinite intangible asset and is not amortized. Changes in the carrying amount of the Corporation's goodwill by business segment for the three months ended March 31, 2025 were as follows:(Dollars in thousands)BankingWealth ManagementInsuranceConsolidatedBalance at December 31, 2024$138,476 $15,434 $21,600 $175,510 Addition to goodwill from acquisitions— — — — Balance at March 31, 2025$138,476 $15,434 $21,600 $175,510 The Corporation also has core deposit and customer-related intangibles, which are not deemed to have an indefinite life and therefore will continue to be amortized over their useful life using the present value of projected cash flows. The following table reflects the components of intangible assets at the dates indicated:At March 31, 2025At December 31, 2024(Dollars in thousands)Gross Carrying AmountAccumulated Amortization (1)Net Carrying AmountGross Carrying AmountAccumulated Amortization (1)Net Carrying AmountAmortized intangible assets:Core deposit intangibles$5,268 $5,124 $144 $6,788 $6,597 $191 Customer related intangibles2,476 1,431 1,045 2,476 1,348 1,128