Business
Univest Financial Corporation Reports Third Quarter Results
SOUDERTON, Pa., Oct. 22, 2025 (GLOBE NEWSWIRE) -- Univest Financial Corporation (“Univest” or the "Corporation") (NASDAQ: UVSP), parent company of Univest
About this update from Univest Financial Corporation
[{"type":"text","content":"SOUDERTON, Pa., Oct. 22, 2025 (GLOBE NEWSWIRE) -- Univest Financial Corporation (“Univest” or the \"Corporation\") (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. (the \"Bank\") and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended September 30, 2025 of $25.6 million, or $0.89 diluted earnings per share, compared to net income of $18.6 million, or $0.63 diluted earnings per share, for the quarter ended September 30, 2024. One-Time ItemsThe financial results for the quarter included tax-free bank owned life insurance (\"BOLI\") death benefit claims of $967 thousand, which represented $0.03 diluted earnings per share. LoansGross loans and leases decreased $15.7 million, or 0.2% (0.8% annualized), from June 30, 2025 and $41.1 million, or 0.6% (0.8% annualized), from December 31, 2024, primarily due to decreases in commercial and residential mortgage loans and lease financings, partially offset by increases in construction, commercial real estate and home equity loans. Gross loans and leases increased $54.7 million, or 0.8%, from September 30, 2024, primarily due to increases in construction, commercial real estate, residential mortgage and home equity loans, partially offset by decreases in commercial loans and lease financings. Deposits and LiquidityTotal deposits increased $635.5 million, or 9.7% (38.8% annualized), from June 30, 2025 and $458.9 million, or 6.8% (9.1% annualized), from December 31, 2024, primarily due to seasonal increases in public funds deposits and increases in commercial and brokered deposits, partially offset by a decrease in consumer deposits. Total deposits increased $364.0 million, or 5.3%, from September 30, 2024, primarily due to increases in public funds deposits and increases in commercial and brokered deposits, partially offset by a decrease in consumer deposits. Noninterest-bearing deposits totaled $1.4 billion and represented 19.3% of total deposits at September 30, 2025, compared to $1.5 billion representing 22.2% of total deposits at June 30, 2025. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion and $1.5 billion at September 30, 2025 and June 30, 2025, respectively. This represented 22.0% of total deposits at September 30, 2025, compared to 23.0% at June 30, 202...