Company: UVSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000102212-25-000019
Chunk: 9

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 9
---
". This ASU clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2025. Early adoption is permitted for all entities that have adopted the amendments in ASU 2020-06. The Corporation does not expect the adoption of this ASU will have a material impact on the Corporation's financial statements.

Note 2. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share.Three Months Ended March 31,(Dollars and shares in thousands, except per share data)20252024Numerator for basic and diluted earnings per share—net income available to common shareholders$22,395 $20,305 Denominator for basic earnings per share—weighted-average shares outstanding29,001 29,414 Effect of dilutive securities—stock options and restricted stock units270 150 Denominator for diluted earnings per share—adjusted weighted-average shares outstanding29,271 29,564 Basic earnings per share$0.77 $0.69 Diluted earnings per share$0.77 $0.69 Average antidilutive options and restricted stock units excluded from computation of diluted earnings per share115 263 

8

Note 3. Investment Securities

The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at March 31, 2025 and December 31, 2024, by contractual maturity within each type: At March 31, 2025(Dollars in thousands)AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesAllowance for Credit LossesFair ValueSecurities Held-to-MaturityResidential mortgage-backed securities:After 1 year to 5 years$949 $— $(17)$— $932 After 5 years to 10 years10,842 — (344)— 10,498 Over 10 years119,098 — (16,101)— 102,997 130,889 — (16,462)— 114,427 Total$130,889 $— $(16,462)$— $114,427 Securities Available-for-SaleResidential mortgage-backed securities:Within 1