Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 164

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 8
Chunk 164
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 on mortgage banking activities981 1,710 (729)(42.6)1,628 2,649 (1,021)(38.5)Other income1,236 745 491 65.9 1,481 1,770 (289)(16.3)Total noninterest income$21,501 $20,980 $521 2.5 %$43,916 $46,575 $(2,659)(5.7 %)

Three and six months ended June 30, 2025 versus 2024 

Noninterest income for the three months ended June 30, 2025 was $21.5 million, an increase of $521 thousand, or 2.5%, from the three months ended June 30, 2024. Noninterest income for the six months ended June 30, 2025 was $43.9 million, a decrease of $2.7 million, or 5.7%, from the six months ended June 30, 2024.

Service charges on deposit accounts increased $276 thousand, or 13.9%, for the three months ended June 30, 2025 and $599 thousand, or 15.5%, for the six months ended June 30, 2025 from the comparable periods in the prior year, primarily due to increased treasury management income.

Investment advisory commission and fee income increased $222 thousand, or 4.2%, for the three months ended June 30, 2025 and $641 thousand, or 6.1%, for the six months ended June 30, 2025 from the comparable periods in the prior year, primarily due to new customer relationships and appreciation of assets under management and supervision.

Insurance commission and fee income decreased $218 thousand, or 1.8%, for the six months ended June 30, 2025 from the comparable period in the prior year, primarily due to a decrease in contingent income of $701 thousand, which was $1.6 million and $2.3 million, for the six months ended June 30, 2025 and June 30, 2024, respectively. Contingent income is largely recognized in the first quarter of the year. The decrease was partially offset by an increase of $485 thousand in revenue for commercial lines.

Other service fee income decreased $3.6 million, or 38.1%, for the six months ended June 30,