Company: UVSP
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000102212-25-000006
Chunk: 163

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 163
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0.41 0.52 0.46 0.48 0.64 Net charge-offs to average loans and leases outstanding0.06 0.08 0.07 — 0.10 Allowance for credit losses, loans and leases to total loans and leases held for investment1.28 1.30 1.29 1.35 1.56 Allowance for credit losses, loans and leases to nonaccrual loans and leases687.54 415.97 591.66 216.57 262.03 Allowance for credit losses, loans and leases to nonperforming loans and leases (1)670.55 405.43 555.27 213.37 251.01 (1) The Corporation adopted ASU 2022-02 "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" effective January 1, 2023, which eliminated the category of troubled debt restructurings. Ratios at December 31, 2022, 2021 and 2020 were restated to exclude troubled debt restructured loans from nonperforming loans and nonperforming assets.

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Executive Overview

The Corporation's consolidated net income, earnings per share and return on average assets and average equity were as follows:

 For the Years Ended December 31,Amount of ChangePercent Change(Dollars in thousands, except per share data)2024202320222024 to 20232023 to 20222024 to 20232023 to 2022Net income$75,931 $71,104 $78,120 $4,827 $(7,016)6.8 %(9.0)%Net income per share:Basic$2.60 $2.42 $2.66 $0.18 $(0.24)7.4 (9.0)Diluted2.58 2.41 2.64 0.17 (0.23)7.1 (8.7)Return on average assets0.96 %0.94 %1.12 %2 BP(18) BP2.1 (16.1)Return on average equity8.85 %8.83 %10.13 %2 BP(130) BP0.2 (12.8)

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