Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 84

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 1
Chunk 84
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 September 30, 2025 or 2024. There can be no assurance that future impairment assessments or tests will not result in a charge to earnings.

Liabilities

The following table presents liabilities at the dates indicated:

(Dollars in thousands)At September 30, 2025At December 31, 2024ChangeAmountPercentDeposits$7,218,143 $6,759,259 $458,884 6.8%Short-term borrowings11,951 11,181 770 6.9 Long-term debt200,000 225,000 (25,000)(11.1)Subordinated notes129,597 149,261 (19,664)(13.2)Operating lease liabilities29,310 31,485 (2,175)(6.9)Accrued interest payable and other liabilities51,396 64,930 (13,534)(20.8)Total liabilities$7,640,397 $7,241,116 $399,281 5.5%

Deposits

Total deposits increased $458.9 million, or 6.8%, from December 31, 2024, primarily due to seasonal increases in public funds deposits and increases in commercial and brokered deposits, partially offset by a decrease in consumer deposits. At September 30, 2025, noninterest bearing deposits totaling $1.4 billion represented 19.3% of total deposits compared to $1.4 billion representing 20.9% of total deposits at December 31, 2024. At September 30, 2025 and December 31, 2024, unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion and $1.5 billion, respectively, which represented 22.0% of total deposits for both periods.

Borrowings

Total borrowings decreased $43.9 million, or 11.4%, from December 31, 2024, primarily due to maturities of long-term FHLB advances totaling $75.0 million, offset by advances of long-term FHLB advances totaling $50.0 million. Additionally, subordinated notes decreased $19.7 million primarily due to a $20.0 million redemption of the previously issued 2020 subordinated notes during the quarter.

Other Liabilities

Other liabilities decreased $13.5 million, or 20.8