Company: UVSP
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000102212-25-000028
Chunk: 204

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-10-24
Form: 10-Q
Item: Item 2
Chunk 204
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 for the same period in the prior year. Net loan and lease charge-offs for the nine months ended September 30, 2025 were $10.0 million compared to $3.0 million for the same period in the prior year. The increase in charge-offs for the nine months ended September 30, 2025 was related to the charge-off of $7.3 million on the previously discussed commercial loan relationship. 

Other real estate owned (OREO) was $23.9 million at September 30, 2025, compared to $20.1 million at December 31, 2024. During the nine months ended September 30, 2025, two nonaccrual residential real estate loans with a total carrying value of $3.9 million were transferred to OREO. Additionally, during the nine months ended September 30, 2025, two residential real estate properties with a total carrying value of $226 thousand were sold. Repossessed assets were $40 thousand and $76 thousand at September 30, 2025 and December 31, 2024, respectively. During the nine months ended September 30, 2025, repossessed assets totaling $78 thousand were acquired and repossessed assets totaling $69 thousand were sold.

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Table 3—Nonaccrual and Past Due Loans and Leases; Other Real Estate Owned; Repossessed Assets; and Related Ratios

The following table details information pertaining to the Corporation’s nonperforming assets at the dates indicated. 

(Dollars in thousands)At September 30, 2025At December 31, 2024Nonaccrual loans and leases held for investment 27,330 12,667 Accruing loans and leases, 90 days or more past due829 321 Total nonperforming loans and leases$28,159 $12,988 Other real estate owned23,926 20,141 Repossessed assets 40 76 Total nonperforming assets$52,125 $33,205 Loans and leases held for investment$6,785,482 $6,826,583 Allowance for credit losses, loans and leases86,527 87,091 Nonaccrual loans and leases with partial charge-offs1,639 273 Reserves on individually analyzed loans3,108 1,945 Allowance for credit losses, loans and leases / loans and leases held