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

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 10
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 (24,552)Stock-based compensation— — 4,526 (290)— — 4,236 Stock issued under dividend reinvestment and employee stock purchase plans98,424 — 114 — — 2,270 2,384 Vesting of restricted stock units, net of shares withheld to cover taxes108,615 — (3,251)— — 2,378 (873)Exercise of stock options130,810 — 374 — — 2,821 3,195 Purchases of treasury stock(803,693)— — — — (18,882)(18,882)Balance at December 31, 202429,045,877 $157,784 $302,829 $525,780 $(43,992)$(55,100)$887,301 

See accompanying notes to consolidated financial statements.

57

UNIVEST FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31,(Dollars in thousands)202420232022Cash flows from operating activities:Net income$75,931 $71,104 $78,120 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses5,933 10,770 12,198 Depreciation of premises and equipment5,473 5,057 4,465 Net gain on sales of investment securities(18)— (30)Net gain on mortgage banking activities(5,265)(3,689)(4,412)Bank owned life insurance income(3,861)(3,185)(3,787)Net amortization of investment securities premiums and discounts1,058 1,138 1,462 Amortization, fair market value adjustments and capitalization of servicing rights1,993 (411)(693)Net amortization (accretion) of acquisition accounting fair value adjustments41 25 (130)Stock-based compensation4,615 4,194 4,120 Intangible expenses 694 938 1,293 Other adjustments to reconcile net income to cash used in by operating activities(3,403)(1,487)(4,094)Deferred tax benefit(1,271)(710)(545)Originations of loans held for sale(309,506)(228,532)(233,634)Proceeds from the