Company: UVSP
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001628280-25-036392
Chunk: 186

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 186
---
 and return on average assets and average equity were as follows: 

Three Months EndedSix Months Ended June 30,ChangeJune 30,Change(Dollars in thousands, except per share data)20252024AmountPercent20252024AmountPercentNet income$19,978 $18,107 $1,871 10.3 %$42,373 $38,412 $3,961 10.3 %Net income per share:Basic$0.69 $0.62 $0.07 11.3 $1.46 $1.31 $0.15 11.5 Diluted0.69 0.62 0.07 11.3 1.45 1.30 0.15 11.5 Return on average assets1.00 %0.94 %6 BP6.4 1.07 %1.00 %7 BP7.0 Return on average equity8.82 %8.62 %20 BP2.3 9.47 %9.16 %31 BP3.4 

47

The Corporation reported net income of $20.0 million, or $0.69 diluted earnings per share, for the three months ended June 30, 2025, compared to net income of $18.1 million, or $0.62 diluted earnings per share, for the three months ended June 30, 2024. The Corporation reported net income of $42.4 million, or $1.45 diluted earnings per share, for the six months ended June 30, 2025, compared to net income of $38.4 million, or $1.30 diluted earnings per share, for the six months ended June 30, 2024. 

The financial results for the six months ended June 30, 2025 included tax-free bank owned life insurance death benefits claims of $1.1 million, which represented $0.04 diluted earnings per share. The financial results for the six months ended June 30, 2024 included a $3.4 million net gain ($2.7 million after-tax), or $0.09 diluted earnings per share, generated from the sale of mortgage servicing rights associated with $591.1 million of serviced loans in the first quarter of 2024.

Results of Operations

Net Interest Income

Net interest income is the difference