Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 39

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 39
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,660 2.52 %$6,759,259 Deposits are insured up to applicable limits by the Deposit Insurance Fund of the FDIC, which is currently $250 thousand per account owner. The aggregate amount of time deposits in denominations over $250 thousand was $321.6 million at June 30, 2025 and $276.0 million at December 31, 2024. At June 30, 2025, the scheduled maturities of time deposits were as follows:Year(Dollars in thousands)AmountRemainder of 2025$722,537 2026361,263 2027178,352 2028163,626 202973,417 Thereafter1,764 Total$1,500,959 

Note 7. Borrowings

The following is a summary of borrowings by type. Short-term borrowings consist of overnight borrowings and term borrowings with an original maturity of one year or less.At June 30, 2025At December 31, 2024(Dollars in thousands)Balance at End of PeriodWeighted Average Interest Rate at End of PeriodBalance at End of PeriodWeighted Average Interest Rate at End of PeriodShort-term borrowings:Customer repurchase agreements$6,271 0.05 %$11,181 0.05 %Long-term debt:FHLB advances$200,000 4.20 $225,000 4.35 %Subordinated notes149,511 6.08 149,261 6.08 The Corporation, through the Bank, has a credit facility with the Federal Home Loan Bank (the FHLB) that had a maximum borrowing capacity of approximately $3.2 billion and $3.3 billion at June 30, 2025 and December 31, 2024, respectively. All borrowings and letters of credit from the FHLB are secured by qualifying commercial real estate and residential mortgage loans, investments and other assets. The Bank had outstanding short-term letters of credit with the FHLB totaling $1.1 billion and $1.3 billion at June 30, 2025 and December 31, 2024, respectively, which were utilized to collateralize public funds deposits and other secured deposits. The maximum borrowing capacity with the FHLB changes as a function of the Bank’s qualifying collateral assets as well as the FHLB’s internal credit rating of the Bank