Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 203

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 203
---
175.5 million at June 30, 2025 and December 31, 2024, which is deemed to be an indefinite intangible asset and is not amortized. The Corporation completes a goodwill impairment analysis on an annual basis, or more often if events and circumstances indicate that there may be impairment. The Corporation also completes an impairment test for other identifiable intangible assets on an annual basis or more often if events and circumstances indicate there may be impairment. There was no impairment of goodwill or identifiable intangibles during the six months ended June 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 June 30, 2025At December 31, 2024ChangeAmountPercentDeposits$6,582,660 $6,759,259 $(176,599)(2.6 %)Short-term borrowings6,271 11,181 (4,910)(43.9)Long-term debt200,000 225,000 (25,000)(11.1)Subordinated notes149,511 149,261 250 0.2 Operating lease liabilities30,106 31,485 (1,379)(4.4)Accrued interest payable and other liabilities53,775 64,930 (11,155)(17.2)Total liabilities$7,022,323 $7,241,116 $(218,793)(3.0 %)

Deposits

Total deposits decreased $176.6 million, or 2.6%, from December 31, 2024, primarily due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. At June 30, 2025, noninterest bearing deposits totaling $1.5 billion represented 22.2% of total deposits compared to $1.4 billion representing 20.9% of total deposits at December 31, 2024. At June 30, 2025 and December 31, 2024, unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.5 billion, which represented 23.0% and 22.0% of total deposits at the respective periods.

Borrowings

Total borrowings decreased $29.7 million,