Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 8

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 8
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 2,265 (8,446)(1,774)(6,672)Defined benefit pension plans:Net unrealized gains (losses) arising during the period6,129 1,287 4,842 3,380 710 2,670 (1,162)(244)(918)Less: amortization of net actuarial loss included in net periodic pension costs (3)587 123 464 985 207 778 873 184 689 Total defined benefit pension plans6,716 1,410 5,306 4,365 917 3,448 (289)(60)(229)Other comprehensive income (loss)8,422 1,768 6,654 14,504 3,046 11,458 (57,912)(12,161)(45,751)Total comprehensive income$103,722 $21,137 $82,585 $103,193 $20,631 $82,562 $39,298 $6,929 $32,369 

(1) Included in net gain on sales of investment securities on the consolidated statements of income (before tax amount).

(2) Represents reclassification to earnings as a reduction to interest income of amounts included in accumulated other comprehensive income on the consolidated balance sheet related to the interest rate swap terminated August 2, 2024.

(3) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 13, "Retirement Plans and Other Postretirement Benefits" for additional details.

See accompanying notes to consolidated financial statements.

56

UNIVEST FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

(Dollars in thousands, except per share data)CommonSharesOutstandingCommonStockAdditionalPaid-inCapitalRetainedEarningsAccumulatedOtherComprehensive(Loss) IncomeTreasuryStockTotalBalance at December 31, 202129,500,542 $157,784 $299,181 $375,124 $(16,353)$(41,942)$773,794 Net income— — — 78,120 — — 78,120 Other comprehensive loss, net of income tax benefit— — — — (45,751)— (45,751)Cash dividends declared ($0.83 per