Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 140

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 140
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1,511 4,832 Total interest income3,270 1,640 4,910 Interest expense:Interest-bearing checking deposits266 (1,409)(1,143)Money market savings1,384 (2,569)(1,185)Regular savings(82)(60)(142)Time deposits2,476 — 2,476      Total time and interest-bearing deposits4,044 (4,038)6 Short-term borrowings(3)12 9 Long-term debt(809)287 (522)Interest on borrowings(812)299 (513)Total interest expense3,232 (3,739)(507)Net interest income$38 $5,379 $5,417 

45

Provision for Credit Losses

The provision for credit losses for the three months ended March 31, 2025 and 2024 was $2.3 million and $1.4 million, respectively. The following table details information pertaining to the Corporation’s allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated. 

(Dollars in thousands)March 31, 2025December 31, 2024September 30, 2024June 30, 2024March 31, 2024Allowance for credit losses, loans and leases$87,790 $87,091 $86,041 $85,745 $85,632 Loans and leases held for investment6,833,037 6,826,583 6,730,734 6,684,837 6,579,086 Allowance for credit losses, loans and leases / loans and leases held for investment1.28 %1.28 %1.28 %1.28 %1.30 %

Noninterest Income

The following table presents noninterest income for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31,Change(Dollars in thousands)20252024AmountPercentTrust fee income$2,161 $2,108 $53 2.5 %Service charges on deposit accounts2,194 1,871 323 17.3 Investment advisory commission and fee income5,613 5,194 419 8.1 Insurance commission and fee income6,889