Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 170

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 8
Chunk 170
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 municipal securities and loans and leases. Additionally, the effective tax rates for the nine months ended September 30, 2025 and 2024 were favorably impacted from the proceeds of BOLI death benefits. Excluding the impact of BOLI death benefits, the effective tax rates were 20.1% and 20.4% for the nine months ended September 30, 2025 and 2024, respectively.

Financial Condition

Assets

The following table presents assets at the dates indicated:

 At September 30, 2025At December 31, 2024Change(Dollars in thousands)AmountPercentCash, interest-earning deposits and federal funds sold$816,739 $328,844 $487,895 148.4 %Investment securities496,846 493,978 2,868 0.6 Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost39,617 38,980 637 1.6 Loans held for sale6,330 16,653 (10,323)(62.0)Loans and leases held for investment6,785,482 6,826,583 (41,101)(0.6)Allowance for credit losses, loans and leases(86,527)(87,091)564 (0.6)Premises and equipment, net46,245 46,671 (426)(0.9)Operating lease right-of-use assets26,536 28,531 (1,995)(7.0)Goodwill and other intangibles, net183,047 183,819 (772)(0.4)Bank owned life insurance139,044 139,351 (307)(0.2)Accrued interest receivable and other assets120,257 112,098 8,159 7.3         Total assets$8,573,616 $8,128,417 $445,199 5.5 %

Cash and Interest-Earning Deposits

Cash and interest-earning deposits increased $487.9 million, or 148.4%, from December 31, 2024, primarily due to an increase in interest-earning deposits at the Federal Reserve Bank of $488.2 million driven by increases in customer deposits.

Investment Securities

Total investment securities at September 30, 2025 increased $2.9 million, or 0.