Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 51

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 51
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 $— $— Total contingent consideration liability$635 $635 $— $—  Six Months Ended June 30, 2024(Dollars in thousands)Balance atDecember 31,2023Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at June 30, 2024Paul I. Sheaffer Insurance Agency$1,224 $635 $25 $614 Total contingent consideration liability$1,224 $635 $25 $614 

38

The Corporation may be required to periodically measure certain assets and liabilities at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market accounting or changes in the value of individual assets. The following table represents assets measured at fair value on a non-recurring basis at June 30, 2025 and December 31, 2024: At June 30, 2025(Dollars in thousands)Level 1Level 2Level 3Assets atFair ValueIndividually analyzed loans held for investment$— $— $24,660 $24,660 Other real estate owned— — 22,471 22,471 Repossessed assets — — 80 80 Total$— $— $47,211 $47,211  At December 31, 2024(Dollars in thousands)Level 1Level 2Level 3Assets atFair ValueIndividually analyzed loans held for investment$— $— $10,111 $10,111 Other real estate owned— — 20,141 20,141 Repossessed assets— — 76 76 Total$— $— $30,328 $30,328 The following table presents assets and liabilities not measured at fair value on a recurring or non-recurring basis in the Corporation’s condensed consolidated balance sheets but for which the fair value is required to be disclosed at June 30, 2025 and December 31, 2024. The disclosed fair values are classified using the fair value hierarchy.  At June 30, 2025(Dollars in thousands)Level 1Level 2Level 3FairValueCarryingAmountAssets:Cash and short-term interest-earning assets$160,365 $— $