Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 76

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 76
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 Valuation Adjustment ("CVA"), which is obtained from real-time financial market data, of 135 interest rate swaps with a current notional amount of $860.4 million. The December 31, 2024, CVA is calculated using a 40% loss given default rate on the most recent investment grade credit curve.The contingent consideration liability resulting from the Sheaffer acquisition was calculated using a discount rate of 8.3% on the acquisition date. During the year ended December 31, 2024, the Corporation paid $635 thousand in contingent consideration related to this acquisition. The contingent consideration liability was $635 thousand at December 31, 2024. The remaining potential cash payment that could result from the contingent consideration arrangement for the Sheaffer acquisition range from $0 to a maximum of $635 thousand through the measurement period ended November 30, 2024, to be made in the first quarter of 2025.

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 At December 31, 2023(Dollars in thousands)Level 1Level 2Level 3Assets/Liabilities atFair ValueAssets:Available-for-sale securities:State and political subdivisions$— $2,301 $— $2,301 Residential mortgage-backed securities— 264,552 — 264,552 Collateralized mortgage obligations— 2,001 — 2,001 Corporate bonds— 82,699 — 82,699 Total available-for-sale securities— 351,553 — 351,553 Equity securities:Equity securities - financial services industry764 — — 764 Money market mutual funds2,529 — — 2,529 Total equity securities3,293 — — 3,293 Loans held for sale— 11,637 — 11,637 Interest rate locks with customers*— 717 — 717 Total assets$3,293 $363,907 $— $367,200 Liabilities:Contingent consideration liability$— $— $1,224 $1,224 Interest rate swaps*— 5,779 — 5,779 Credit derivatives*— — 186 186 Forward loan sale commitments*— 427 — 427 Total liabilities$— $6,206 $1,410 $7,616 *Such financial instruments are recorded at