Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 6

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 6
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529 3,249 1,269 Interest on time deposits64,266 34,979 5,308 Interest on short-term borrowings249 7,095 1,389 Interest on long-term debt and subordinated notes 20,067 18,589 7,085 Total interest expense201,185 151,733 33,896 Net interest income211,170 219,997 218,297 Provision for credit losses5,933 10,770 12,198 Net interest income after provision for credit losses205,237 209,227 206,099 Noninterest incomeTrust fee income8,491 7,732 7,743 Service charges on deposit accounts8,082 7,048 6,175 Investment advisory commission and fee income21,208 18,864 19,748 Insurance commission and fee income22,349 21,043 19,065 Other service fee income14,747 12,381 12,425 Bank owned life insurance income3,861 3,185 3,787 Net gain on sales of investment securities18 — 30 Net gain on mortgage banking activities5,265 3,689 4,412 Other income4,034 2,882 4,500 Total noninterest income88,055 76,824 77,885 Noninterest expenseSalaries, benefits and commissions123,745 120,188 115,806 Net occupancy11,025 10,686 10,193 Equipment4,453 4,132 3,904 Data processing16,956 16,799 15,215 Professional fees6,402 7,141 9,332 Marketing and advertising2,173 2,180 2,462 Deposit insurance premiums4,432 4,825 3,075 Intangible expenses694 938 1,293 Restructuring charges— 1,519 184 Other expense28,112 28,954 25,310 Total noninterest expense197,992 197,362 186,774 Income before income taxes95,300 88,689 97,210 Income tax expense19,369 17,585 19,090 Net income$75,931 $71,104 $78,120 Net income per share:Basic$2.