Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 130

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 8
Chunk 130
---
 continue to be amortized over their useful life using the present value of projected cash flows.

30

 The following table reflects the components of intangible assets at the dates indicated:At September 30, 2025At December 31, 2024(Dollars in thousands)Gross Carrying AmountAccumulated Amortization (1)Net Carrying AmountGross Carrying AmountAccumulated Amortization (1)Net Carrying AmountAmortized intangible assets:Core deposit intangibles$5,268 $5,196 $72 $6,788 $6,597 $191 Customer related intangibles2,476 1,596 880 2,476 1,348 1,128 Servicing rights12,876 6,291 6,585 12,274 5,284 6,990 Total amortized intangible assets$20,620 $13,083 $7,537 $21,538 $13,229 $8,309 (1) Included within accumulated amortization is a valuation allowance of $329 thousand and $7 thousand on servicing rights at September 30, 2025 and December 31, 2024, respectively.The estimated aggregate amortization expense for core deposit and customer-related intangibles for the remainder of 2025 and the succeeding fiscal years is as follows:Year(Dollars in thousands)AmountRemainder of 2025$102 2026318 2027216 2028161 2029105 Thereafter50 Total$952 The aggregate fair value of servicing rights was $10.5 million and $12.7 million at September 30, 2025 and December 31, 2024, respectively. The fair value of these rights was determined using a discount rate of 11.2% and 11.0% at September 30, 2025 and December 31, 2024, respectively. Changes in the servicing rights balance are summarized as follows: Three Months Ended September 30,Nine Months Ended September 30,(Dollars in thousands)2025202420252024Beginning of period$6,909 $6,083 $6,990 $8,982 Servicing rights capitalized416 541 1,163 1,504 Amortization of servicing rights(432)(151)(1,246)(628