Univest Financial Corporation

UVSP: 10-Q · periodic report

Univest Financial reported net income of $50.0 million for the six months ended June 30, 2026, an 18.1% increase from the prior year, driven by an 11.5% rise in net interest income and a 29 basis point expansion in net interest margin to 3.41%. The results included a $5.2 million pre-tax charge related to a valuation adjustment on other real estate owned and a $427 thousand restructuring charge for facility closures, partially offset by $1.1 million in tax-free bank owned life insurance proceeds. Asset quality metrics weakened during the period, with nonaccrual loans rising to $43.9 million from $13.7 million at December 31, 2025, primarily due to a single $28.6 million commercial loan relationship that was placed on nonaccrual status in the second quarter. Despite this, the allowance for credit losses remained stable at 1.28% of loans and leases held for investment. Shareholders' equity increased 1.2% to $954.3 million, supported by retained earnings growth, which was partially offset by the repurchase of $28.5 million in treasury stock. Total assets decreased 2.8% to $8.2 billion, largely due to a seasonal decrease in interest-earning deposits at the Federal Reserve Bank as funds were deployed into loan growth.

SEC 10-Q•2mo ago

Univest Financial Corporation Reports Second Quarter Results

Univest Financial reported Q2 net income of $23.0 million, or $0.82 per share, increasing from $20.0 million and $0.69 per share in the prior year, as strong core operating results offset a $5.2 million pre-tax charge on an OREO property. Net interest margin expanded to 3.49% on a tax-equivalent basis, up from 3.20% a year ago, driven by higher loan yields and a reduction in the cost of funds which boosted net interest income by 11.3% to $66.2 million. Asset quality metrics showed stress with nonperforming assets rising to $63.0 million due to a specific $28.6 million commercial loan relationship, while the board raised the quarterly dividend to $0.23 and repurchased 425,539 shares during the quarter.

•3mo ago

Univest Financial Corporation Reports First Quarter Results

Univest Financial reported Q1 diluted EPS of $0.96, a 24.7% increase from the year-ago period, driven by an 11.6% rise in net interest income and margin expansion to 3.33%. The board raised the quarterly dividend by 4.5% to $0.23 per share and repurchased 351,138 shares during the quarter at an average price of $33.70. Total deposits decreased $273.6 million quarter-over-quarter due to seasonal public funds runoff, while nonperforming assets increased to $41.2 million from $34.0 million a year ago.

•6mo ago