Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 57

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 57
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 60,000 4,126 5.63 Customer repurchase agreements11,181 0.05 14,101 9,376 0.05 Long-term debt:FHLB advances$225,000 4.35 %$310,000 $253,730 4.31 %Security repurchase agreements— — — 3 — Subordinated notes149,261 6.08 149,261 149,007 6.12 2023Short-term borrowings:FHLB borrowings$— — %$265,400 $75,685 5.23 %Federal funds purchased— — 125,000 58,926 5.31 Customer repurchase agreements6,306 0.05 21,181 14,165 0.05 Long-term debt:FHLB advances$310,000 3.73 %$320,000 $263,877 3.59 %Subordinated notes148,761 6.08 148,761 148,507 6.14 The Corporation, through the Bank, has a credit facility with the FHLB that had a maximum borrowing capacity of approximately $3.3 billion and $3.2 billion at December 31, 2024 and 2023, 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. At December 31, 2024 and 2023, the Bank had outstanding short-term letters of credit with the FHLB totaling $1.3 billion and $1.1 billion, 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. The available borrowing capacity from the FHLB totaled $1.7 billion at December 31, 2024 and 2023.The Corporation, through the Bank, holds investment securities at the Federal Reserve Bank of Philadelphia to provide access to the Discount Window Lending program. During the second quarter of 2024, the Bank was approved to participate in the FRB Borrower in Custody program, which provides additional committed borrowing capacity for the Bank through the Discount Window Lending program based upon select loans pledged to the FRB