Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 127

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 127
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202763,391 56,881 202838,934 32,899 202918,183 12,101 Thereafter4,492 1,964 Total future minimum lease payments receivable257,978 271,947 Plus: Unguaranteed residual1,478 1,485 Plus: Initial direct costs2,932 3,156 Less: Imputed interest(29,947)(31,927)Lease financings$232,441 $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 six months ended June 30, 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 June 30, 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 June 30, 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 $5,172 $96 $6,788 $6,597 $191 Customer related intangibles2,476 1,514 962 2,476 1,348 1,128 Servicing rights12,632 5,723 6,909 12,274 5,284 6,990 Total amortized intangible assets$20,376 $12,409 $7,967 $21,538 $13,229 $8,309 (1) Included within accumulated amortization is a