Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 12

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 12
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ollars in thousands)Fair ValueUnrealizedLossesFair ValueUnrealizedLossesFair ValueUnrealizedLossesAt March 31, 2025Securities Held-to-MaturityResidential mortgage-backed securities$2,585 $(18)$111,842 $(16,444)$114,427 $(16,462)Total$2,585 $(18)$111,842 $(16,444)$114,427 $(16,462)Securities Available-for-SaleResidential mortgage-backed securities$35,342 $(323)$205,109 $(33,114)$240,451 $(33,437)Collateralized mortgage obligations— — 1,630 (114)1,630 (114)Corporate bonds994 (1)— — 994 (1)Total$36,336 $(324)$206,739 $(33,228)$243,075 $(33,552)At December 31, 2024Securities Held-to-MaturityResidential mortgage-backed securities$2,566 $(50)$112,441 $(19,054)$115,007 $(19,104)Total$2,566 $(50)$112,441 $(19,054)$115,007 $(19,104)Securities Available-for-SaleResidential mortgage-backed securities$65,044 $(905)$205,071 $(38,537)$270,115 $(39,442)Collateralized mortgage obligations— — 1,685 (133)1,685 (133)Total$65,044 $(905)$206,756 $(38,670)$271,800 $(39,575)At March 31, 2025, the fair value of held-to-maturity securities in an unrealized loss position for which an allowance for credit losses has not been recorded was $114.4 million, including unrealized losses of $16.5 million. These holdings were comprised of 90 federal agency mortgage-backed securities, which are U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The Corporation did not recognize any credit losses on held-to-maturity debt securities for the three months ended March 31, 2025. At March 31, 2025, the fair value of available-for-sale securities in an