UNIVEST FINANCIAL Corp

For the period ended Dec 31, 2024. Filed Feb 24, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 24, 2025

UVSP$40.83-0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

	For the Years Ended December 31,
(Dollars in thousands, except per share data)	2024	2023	2022
Interest income
Interest and fees on loans and leases	$383,308	$347,918	$237,156
Interest and dividends on investment securities:
Taxable	14,909	14,225	11,432
Exempt from federal income taxes	33	58	58
Interest on deposits with other banks	11,193	6,660	1,920
Interest and dividends on other earning assets	2,912	2,869	1,627
Total interest income	412,355	371,730	252,193
Interest expense
Interest on demand deposits	113,074	87,821	18,845
Interest on savings deposits	3,529	3,249	1,269
Interest on time deposits	64,266	34,979	5,308
Interest on short-term borrowings	249	7,095	1,389
Interest on long-term debt and subordinated notes	20,067	18,589	7,085
Total interest expense	201,185	151,733	33,896
Net interest income	211,170	219,997	218,297
Provision for credit losses	5,933	10,770	12,198
Net interest income after provision for credit losses	205,237	209,227	206,099
Noninterest income
Trust fee income	8,491	7,732	7,743
Service charges on deposit accounts	8,082	7,048	6,175
Investment advisory commission and fee income	21,208	18,864	19,748
Insurance commission and fee income	22,349	21,043	19,065
Other service fee income	14,747	12,381	12,425
Bank owned life insurance income	3,861	3,185	3,787
Net gain on sales of investment securities	18	—	30
Net gain on mortgage banking activities	5,265	3,689	4,412
Other income	4,034	2,882	4,500
Total noninterest income	88,055	76,824	77,885
Noninterest expense
Salaries, benefits and commissions	123,745	120,188	115,806
Net occupancy	11,025	10,686	10,193
Equipment	4,453	4,132	3,904
Data processing	16,956	16,799	15,215
Professional fees	6,402	7,141	9,332
Marketing and advertising	2,173	2,180	2,462
Deposit insurance premiums	4,432	4,825	3,075
Intangible expenses	694	938	1,293
Restructuring charges	—	1,519	184
Other expense	28,112	28,954	25,310
Total noninterest expense	197,992	197,362	186,774
Income before income taxes	95,300	88,689	97,210
Income tax expense	19,369	17,585	19,090
Net income	$75,931	$71,104	$78,120
Net income per share:
Basic	$2.60	$2.42	$2.66
Diluted	2.58	2.41	2.64

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.