UNIVEST FINANCIAL Corp
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
UVSP$41.09+1.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| At December 31, | ||
|---|---|---|
| (Dollars in thousands, except share data) | 2023 | 2022 |
| ASSETS | ||
| Cash and due from banks | $72,815 | $84,176 |
| Interest-earning deposits with other banks | 176,984 | 68,623 |
| Cash and cash equivalents | 249,799 | 152,799 |
| Investment securities held-to-maturity (fair value $128,277 and $134,068 at December 31, 2023 and 2022, respectively) | 145,777 | 154,727 |
| Investment securities available-for-sale (amortized cost $395,727 and $402,111, net of allowance for credit losses of $731 and $1,140 at December 31, 2023 and 2022, respectively) | 351,553 | 350,256 |
| Investments in equity securities | 3,293 | 2,579 |
| Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost | 40,499 | 33,841 |
| Loans held for sale | 11,637 | 5,037 |
| Loans and leases held for investment | 6,567,214 | 6,123,230 |
| Less: Allowance for credit losses, loans and leases | (85,387) | (79,004) |
| Net loans and leases held for investment | 6,481,827 | 6,044,226 |
| Premises and equipment, net | 51,441 | 50,939 |
| Operating lease right-of-use asset | 31,795 | 30,059 |
| Goodwill | 175,510 | 175,510 |
| Other intangibles, net of accumulated amortization | 10,950 | 11,384 |
| Bank owned life insurance | 131,344 | 120,297 |
| Accrued interest receivable and other assets | 95,203 | 90,362 |
| Total assets | $7,780,628 | $7,222,016 |
| LIABILITIES | ||
| Noninterest-bearing deposits | $1,468,320 | $2,047,263 |
| Interest-bearing deposits | 4,907,461 | 3,866,263 |
| Total deposits | 6,375,781 | 5,913,526 |
| Short-term borrowings | 6,306 | 197,141 |
| Long-term debt | 310,000 | 95,000 |
| Subordinated notes | 148,761 | 148,260 |
| Operating lease liabilities | 34,851 | 33,153 |
| Accrued interest payable and other liabilities | 65,721 | 58,436 |
| Total liabilities | 6,941,420 | 6,445,516 |
| SHAREHOLDERS' EQUITY | ||
| Common stock, $5 par value: 48,000,000 shares authorized at December 31, 2023 and 2022; 31,556,799 shares issued at December 31, 2023 and 2022; 29,511,721 and 29,271,915 shares outstanding at December 31, 2023 and 2022, respectively | 157,784 | 157,784 |
| Additional paid-in capital | 301,066 | 300,808 |
| Retained earnings | 474,691 | 428,637 |
| Accumulated other comprehensive loss, net of tax benefit | (50,646) | (62,104) |
| Treasury stock, at cost; 2,045,078 and 2,284,884 shares at December 31, 2023 and 2022, respectively | (43,687) | (48,625) |
| Total shareholders' equity | 839,208 | 776,500 |
| Total liabilities and shareholders' equity | $7,780,628 | $7,222,016 |
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