Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 165

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 2
Chunk 165
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 371 372 Federal Home Loan Bank, Federal Reserve Bank and other stock(35)(2)(37)Interest on deposits, investments and other earning assets(51)129 78 Commercial, financial and agricultural loans862 (365)497 Real estate—commercial and construction loans1,515 520 2,035 Real estate—residential loans1,262 725 1,987 Loans to individuals(164)9 (155)Tax-exempt loans and leases(26)423 397 Lease financings(128)199 71 Interest and fees on loans and leases3,321 1,511 4,832 Total interest income3,270 1,640 4,910 Interest expense:Interest-bearing checking deposits266 (1,409)(1,143)Money market savings1,384 (2,569)(1,185)Regular savings(82)(60)(142)Time deposits2,476 — 2,476      Total time and interest-bearing deposits4,044 (4,038)6 Short-term borrowings(3)12 9 Long-term debt(809)287 (522)Interest on borrowings(812)299 (513)Total interest expense3,232 (3,739)(507)Net interest income$38 $5,379 $5,417 

45

Provision for Credit Losses

The provision for credit losses for the three months ended March 31, 2025 and 2024 was $2.3 million and $1.4 million, respectively. The following table details information pertaining to the Corporation’s allowance for credit losses on loans and leases as a percentage of loans and leases held for investment at the dates indicated. 

(Dollars in thousands)March 31, 2025December 31, 2024September 30, 2024June 30, 2024March 31, 2024Allowance for credit losses, loans and leases$87,790 $87,091 $86,041 $85,745 $85,632 Loans and leases held for investment6,833,037 6,826,583 6,730,734 6,684,837 6,579,086 Allowance for credit losses, loans and leases / loans and leases held for investment1.28 %1.28 %1