Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 44

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 44
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.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 payments that could result from the contingent consideration arrangement for the Sheaffer acquisition range from $0 to a maximum of $635 thousand through the measurement period ended November 30, 2024, to be made in the first quarter of 2025.  The following table includes a rollforward of credit derivatives for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the three months ended March 31, 2025 and 2024:    Three Months Ended March 31, 2025(Dollars in thousands)Balance atDecember 31,2024AdditionsIncrease in valueBalance at March 31, 2025Credit derivatives$(67)$(30)$18 $(79)Net total $(67)$(30)$18 $(79) Three Months Ended March 31, 2024(Dollars in thousands)Balance atDecember 31,2023AdditionsIncrease in valueBalance at March 31, 2024Credit derivatives$(186)$(161)$227 $(120)Net total$(186)$(161)$227 $(120)The following table presents the change in the balance of the contingent consideration liability related to acquisitions for which the Corporation utilized Level 3 inputs to determine fair value on a recurring basis for the three months ended March 31, 2025 and 2024: Three Months Ended March 31, 2025(Dollars in thousands)Balance atDecember 31,2024Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at March 31, 2025Paul I. Sheaffer Insurance Agency$635 $635 $— $— Total contingent consideration liability$635 $635 $— $—  Three Months Ended March 31, 2024(Dollars in thousands)Balance atDecember 31,2023Payment ofContingentConsiderationAdjustmentof ContingentConsiderationBalance at March 31, 2024Paul I. Sheaffer Insurance Agency$1,224 $635 $12 $601 Total contingent consideration liability$1,224 $635 $12 $601 

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