Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 93

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 93
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)Change in securities for which a previous expected credit loss was recognized(86)Ending balance$(817)At March 31, 2025, the fair value of available-for-sale securities in an unrealized loss position for which an allowance for credit losses has been recorded was $132.5 million, including unrealized losses of $10.3 million, and allowance for credit losses of $746 thousand. These holdings were comprised of 27 investment grade corporate bonds, all of which fluctuate in value based on changes in market conditions. For these securities, fluctuations were primarily due to changes in the interest rate environment. The Corporation does not intend to sell these securities, and it is not likely that it will be required to sell the securities before their anticipated recovery. The underlying issuers continue to make timely principal and interest payments on the securities.The Corporation recognized a $36 thousand net loss on equity securities during the three months ended March 31, 2024 in other noninterest income. There were no sales of equity securities during the three months ended March 31, 2025 or 2024.

Note 4. Loans and Leases

Summary of Major Loan and Lease Categories(Dollars in thousands)At March 31, 2025At December 31, 2024Commercial, financial and agricultural$1,034,361 $1,037,835 Real estate-commercial3,546,402 3,530,451 Real estate-construction281,785 274,483 Real estate-residential secured for business purpose536,082 536,095 Real estate-residential secured for personal purpose992,767 994,972 Real estate-home equity secured for personal purpose189,119 186,836 Loans to individuals16,930 21,250 Lease financings235,591 244,661 Total loans and leases held for investment, net of deferred income$6,833,037 $6,826,583 Less: Allowance for credit losses, loans and leases(87,790)(87,091)Net loans and leases held for investment$6,745,247 $6,739,492 Imputed interest on lease financings, included in the above table$(30,318)$(31,927)Net deferred costs, included in the above table6,839 6,992 Overdraft deposits included in the above table81 104 

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Age Analysis of Past Due Loans