Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 0

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 0
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Item 1. Financial Statements

UNIVEST FINANCIAL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(Dollars in thousands, except share data)At March 31, 2025At December 31, 2024ASSETSCash and due from banks$73,319 $75,998 Interest-earning deposits with other banks95,815 252,846 Cash and cash equivalents169,134 328,844 Investment securities held-to-maturity (fair value $114,427 and $115,007 at March 31, 2025 and December 31, 2024, respectively)130,889 134,111 Investment securities available-for-sale (amortized cost $402,633 and $402,651, net of allowance for credit losses of $746 and $839 at March 31, 2025 and December 31, 2024, respectively)364,503 357,361 Investments in equity securities 1,667 2,506        Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost35,732 38,980 Loans held for sale13,150 16,653 Loans and leases held for investment6,833,037 6,826,583 Less: Allowance for credit losses, loans and leases(87,790)(87,091)Net loans and leases held for investment6,745,247 6,739,492 Premises and equipment, net47,175 46,671 Operating lease right-of-use assets27,182 28,531 Goodwill175,510 175,510 Other intangibles, net of accumulated amortization8,061 8,309 Bank owned life insurance139,482 139,351 Accrued interest receivable and other assets117,435 112,098 Total assets$7,975,167 $8,128,417 LIABILITIESNoninterest-bearing deposits$1,433,995 $1,414,635 Interest-bearing deposits5,224,503 5,344,624 Total deposits6,658,498 6,759,259 Short-term borrowings4,031 11,181 Long-term debt175,000 225,000 Subordinated notes149,386 149,261 Operating lease liabilities30,062 31,485 Accru