Univest Financial Corporation · NASDAQ:UVSP
Univest Financial — Investor Presentation (July 2025)
47 slides from Univest Financial's investor presentation, Jul 28, 2025
Slide 1: Investor Presentation July 28, 2025
Investor Presentation July 28, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement 2 Cautionary Note Regarding Forward-Looking Statements The information contained in this report may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words "believe," "anticipate," "estimate," "expect," "project," "target,"
Slide 3: Safe Harbor Statement (cont’d)
Safe Harbor Statement (cont’d) 3 Cautionary Note Regarding Forward-Looking Statements • Our ability to enter new markets successfully and capitalize on growth opportunities; • Competition for loans, deposits and employees; • System failures or cyber-security breaches of our information technology in
Slide 4: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures include tangible common equity, core net interest income excludi
Slide 5: Company Overview
COMPANY OVERVIEW
Slide 6: Univest Company Overview
Univest Company Overview • Headquartered in Souderton, Pennsylvania (Montgomery County) • Bank founded in 1876, holding company formed in 1973 • Engaged in financial services business, providing full range of banking, insurance and wealth management services ◦ Comprehensive financial solutions deliv
Slide 7: UVSP by the Numbers
UVSP by the Numbers 7 7th Largest Diversified Financial Institution Headquartered in PA 4.4%1 Core PTPP-NCO2 <--5-year CAGR--> 9.3% TBV/Share Conservatively Managed Organic Growth Engine ~25% - 30% Fee Income Business Revenue/Total 6.6% 5-yr CAGR Organic Loan Growth w/ Exceptional Asset Quality 6.2%
Slide 8: Deposits and Liquidity Highlights
Deposits and Liquidity Highlights (As of June 30, 2025) 8 Committed borrowing capacity of $3.6 billion ($2.3 billion available1) Estimated unprotected deposits totaled $1.5 billion3 or 23.0% of total deposits Noninterest-bearing deposits represent 22.2% of total deposits Prudently managed investment
Slide 9: Executive Leadership Team
Executive Leadership Team 9 Name Age Tenure (yrs) with Univest Title Jeffrey M. Schweitzer 52 17 Chairman, President and CEO, Univest Financial Corporation Michael S. Keim 57 16 Chief Operating Officer, Univest Financial Corporation and President, Univest Bank and Trust Co. Brian J. Richardson 42 9
Slide 10: Univest Primary Physical Service Area
Univest Primary Physical Service Area 10 KEY Headquarters Financial Center Regional Center Regional Center (Deposit Taking) Insurance Western PA Maryland Southeastern PA, Central PA and New Jersey
Slide 11: 2025 Strategy
2025 Strategy 11 Balance Sheet Optimization Improve Operating Leverage Growth In Non-Interest Income Businesses Human Capital ◦ Maintain net interest margin with peer competitive metrics ◦ Execute a diversified deposit sourcing strategy ◦ Manage loan growth focusing on full relationship customers an
Slide 12: Attractive Investment Opportunity
Attractive Investment Opportunity 12 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 2. Based on price of $29.38 (represents closing price on 7/25/2025). 3. Based on analyst average consensus of $2.96 EPS for 2026 (KBW projection of $3.04 as of July 24th and Stephe
Slide 13: Summary Financial Highlights
SUMMARY FINANCIAL HIGHLIGHTS
Slide 14: YTD Q2 2025 Results
YTD Q2 2025 Results 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 2. Includes PA capital stock tax expense - increases efficiency ratio by approximately 180 bps 14 Earnings Loans & Deposits Key Ratios Reported Earnings: $42.4 million $1.46 per Share Core PTPP-NCO
Slide 15: Core Pre-Tax Pre-Provision Income less Net Charge-Offs
$64,978 $68,620 $84,911 $85,340 $87,236 $108,434 $100,321 93,825 $49,950 2017 2018 2019 2020 2021 2022 2023 2024 YTD Q2 2025 $— $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Core Pre-Tax Pre-Provision Income less Net Charge-Offs1 1. This is a non-GAAP financial measure. Refer to the Appendix for
Slide 16: Tangible Book Value Per Share
$14.44 $15.24 $17.01 $17.66 $20.14 $20.42 $22.41 $24.43 $25.66 2017 2018 2019 2020 2021 2022 2023 2024 YTD Q2 2025 $— $5.00 $10.00 $15.00 $20.00 $25.00 Tangible Book Value Per Share1 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 2. Assumes no Wealth Management or
Slide 17: Core PTPP-NCO ROAA & ROTE
Core PTPP- NCO ROAA & ROTE 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 1.49% 1.45% 1.63% 1.51% 1.37% 1.56% 1.33% 1.19% 1.26% 2017 2018 2019 2020 2021 2022 2023 2024 YTD Q2 2025 1.00% 1.10% 1.20% 1.30% 1.40% 1.50% 1.60% 1.70% 1.80% 1.90% 2.00% 19.54% 16.33% 18.2
Slide 18: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 2. Pro forma tax equivalent margin calculation excludes purchase accounting accretion and is based upon a pro forma 21% tax rate for all periods presented 3. 2020 - 2022 Core
Slide 19: Efficiency Ratio
62.5% 61.9% 61.4% 60.6% 60.9% 62.4% 66.0% 65.7% 61.6% 60.8% 60.1% 60.2% 60.7% 63.2% 59.7% 62.0% 64.7% 60.4% Reported Efficiency Ratio (Noninterest Expense/Tax Equivalent Revenue) Efficiency Ratio (Core Noninterest Expense Excluding PA Shares Tax/Core Tax Equivalent Revenue) (1),(2) 2017 2018 2019 20
Slide 20: Revenue
Revenue 1. This is a non-GAAP financial measure. Refer to the Appendix for reconciliation. 2. 2022 is a pro forma annualized figure - (YTD Q3/3x4) Revenue = Net Interest Income + Noninterest Income $ (0 00 ) N on-Interest Incom e % of Total R evenue Net Interest Income (excl PPP) Non-Interest Income
Slide 21: Fee Income
Fee Income 21 $55,963 $59,240 $60,173 $65,422 $78,328 $83,224 $77,885 $76,824 $88,055 $43,916 33% 29% 28% 28% 32% 32% 26% 26% 29% 27% Trust / Wealth Fee Income Insurance Fee Income Mortgage Banking Service Charges on Deposit Accounts Other Service Fee Income BOLI Other % of Total Revenue 2016 2017 2
Slide 22: Assets and Loans
Assets and Loans Chart data as of December 31 except for 2025 (6/30) Assets Excluding PPP Loans: 2020 = $5.9B, 2021 = $7.1B and 2022 = $7.2B $ (0 00 ) $4.2B $4.6B $5.0B $5.4B $6.3B $7.1B $7.2B $7.8B $8.1B $7.9B Net Loans & Leases Total Investment Securities Other Assets Cash and Due From Banks 2016
Slide 23: Liabilities and Deposits
Liabilities and Deposits Chart data as of December 31 except for 2025 (6/30) $ (0 00 ) $3.7B $4.0B $4.4B $4.7B $5.6B $6.3B $6.4B $6.9B $7.2B $7.0B Interest-Bearing Deposits Noninterest-Bearing Deposits Borrowings Other Liabilities 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1,000,000 2,000,0
Slide 24: Asset Quality
Asset Quality Chart data as of December 31 except for 2025 (6/30) $ (0 00 ) Nonaccrual Loans and Leases ACL/nonaccrual loans and leases 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 — 10,000 20,000 30,000 40,000 50,000 0.0% 100.0% 200.0% 300.0% 400.0% 500.0% 600.0% 700.0% 800.0% $ (0 00 ) Nonacc
Slide 25: Current Expected Credit Loss (CECL)
Current Expected Credit Loss (CECL)1 25 1. Reflects the current expected credit loss for loans and leases only; excludes the current expected credit loss for investment securities and unfunded commitments 2020 2021 2022 2023 2024 YTD 2025 Beginning of year Loan and Lease Reserve $ 35,331 $ 83,044 $
Slide 26: Liquidity and Capital
LIQUIDITY AND CAPITAL
Slide 27: Liquidity and Capital
Liquidity and Capital All data in millions, as of 6/30/25 Balance Unused FHLB - Pittsburgh* $ 200.0 $ 1,862.6 Federal Fund Lines (8 Lenders)** — 469.0 FRB - Philadelphia — 414.5 Univest Financial Corp. LOC 1 — 10.0 Total $ 200.0 $ 2,756.1 *FHLB remaining capacity is less outstanding letters of credi
Slide 28: Strong Capital Ratios Provide for Operating Flexibility
Strong Capital Ratios Provide for Operating Flexibility 28 Tier 1 (Leverage) 8.84% 10.48% 10.13% 10.02% 9.08% 9.13% 9.81% 9.36% 9.51% 9.94% 5.00% Required Capital Ratio with full Basel III phase-in Univest Financial Corp 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 —% 2.50% 5.00% 7.50% 10.00% 1
Slide 29: Largest Deposit Relationships
Largest Deposit Relationships 1 – As of 6/30/25 29 Deposits Balance Rank Type (000s) 1 Bus/Corp 103,999 2 Public Funds 92,136 3 Bus/Corp 71,072 4 Bus/Corp 50,199 5 Public Funds 49,997 6 Public Funds 39,336 7 Bus/Corp 37,019 8 Public Funds 35,582 9 Public Funds 35,143 10 Bus/Corp 34,667 11 Public Fun
Slide 30: Investments
Investments Corporate Bonds (in millions) Moody’s Rating Aa3 1.0 Aa2 0.5 Aa1 — Aaa 0.5 A3 16.9 A2 15.5 A1 43.5 Baa2 — Baa1 — WR — N/A — Total 77.9 30 MBS/ CMO 84.8% Other 0.4% Corporate Bonds 14.8% $497 Million at 6/30/25 Investment Portfolio Corporate Bond Ratings
Slide 31: Loan Portfolio Detail and Credit Overview
LOAN PORTFOLIO DETAIL AND CREDIT OVERVIEW
Slide 32: Loan & Lease Detail
Loan & Lease Detail Chart Data is as of December 31 except for 2025 (6/30) 2020 - 2022 Total Loans excludes PPP 32 1,375 1,542 1,741 2,040 2,459 2,719 3,028 3,303 3,530 3,486 823 896 938 947 893 956 1,087 990 1,038 1,052 175 176 216 233 243 284 382 394 274 302 294 342 363 374 381 410 478 517 536 535
Slide 33: Largest Loan Exposures
Largest Loan Exposures – As of 6/30/25 33 Commercial Real Estate and Residential Real Estate Secured for Business Purposes Commercial & Industrial $4,323M | Avg Loan Size $607K $1,052M | Avg Loan Size $351K Risk Exposure Risk Exposure Rank Loan Type/Industry Rating (000s) Geography Rank Loan Type/In
Slide 34: Loan Portfolio Overview
Loan Portfolio Overview – As of 6/30/25 34 Industry Description Total Outstanding Balance % of Commercial Loan Portfolio CRE - Retail $ 453,445 8.4 % Animal Production 401,946 7.5 CRE - Multi-family 360,345 6.7 CRE - 1-4 Family Residential Investment 279,322 5.2 CRE - Office 262,374 4.9 Hotels & Mot
Slide 35: Credit Infrastructure Approval Process
Credit Infrastructure 35 Approval Process Credit / Risk Owns Borrower Risk Risk Assessment/Analysis Portfolio Risk Assessment Credit Risk Structure Underwriting Process Approval Sign-Off Independent Loan Review Line of Business Owns Borrower Relationship Business/Industry Expertise or Analysis Trans
Slide 36: Credit risk management practices
• Joint signature up to $10.0MM, then management level loan committee for the largest exposures. ◦ Itemized report of all closed loans of $500K or more reported weekly to Officers Loan Committee. • Robust independent loan review process, using team based audits with risk based scope. • Generally, le
Slide 37: Line of Business Overview
GUNIVEST Capi BANK AND TRUST CO. AUNIVEST WEALTH DIVISION Member FDIC LINE OF BUSINESS OVERVIEW alk WW y GUNIVEST UNIVEST HOME LOANS
Slide 38: Commercial Banking
Commercial Banking • As of 6/30/25, 86 lenders, relationship managers and portfolio managers operating in four divisions established by geography: ◦ East Penn and New Jersey: Bucks, Montgomery, Chester, Delaware, Berks, Philadelphia, Lehigh and Northampton counties in Pennsylvania and Cape May, Atla
Slide 39: Consumer Banking
Consumer Banking • 27 financial service centers located in Bucks, Lancaster, Lehigh, Montgomery, Northampton and Philadelphia counties in PA; also operating 12 Regional Centers (Deposit Taking) and 10 retirement centers in Bucks and Montgomery counties. • Proactively addressed continued reduction in
Slide 40: Mortgage Banking
Mortgage Banking • As of 6/30/25, 34 Loan Officers predominately operating in Bank’s core footprint • Primarily agency lender: FNMA, FHLMC, FHA, VA and USDA ◦ FNMA and FHLMC eligible loans sold with servicing retained ◦ GNMA issuer ◦ FHA, VA and USDA loans currently sold primarily to correspondents
Slide 41: Univest Capital, Inc.
Univest Capital, Inc. • Equipment financing business with $232 million in lease receivables as of 6/30/25 • Average lease size $46,000 typically with four-year term • Primary industries served: health care, education, automotive, golf/turf, C&I equipment and energy • Manage residual risk by primaril
Slide 42: Wealth Management
Wealth Management • Comprehensive wealth management platform including broker / dealer, municipal pension services, registered investment advisor, retirement plan services and trust • The wealth management division operates under the Girard brand (i.e., Girard Advisory Services, LLC, Girard Benefits
Slide 43: Insurance
Insurance • Independent insurance agency with more than 60 carrier relationships • Full service agency providing commercial and personal lines, employee benefits and HR consulting solutions • Built via a series of eight acquisitions beginning in 2000 • Agent for written premiums of $229 million as o
Slide 44: Appendix (Non-GAAP Reconciliations)
APPENDIX (Non-GAAP Reconciliations)
Slide 45: Appendix – Non-GAAP Reconciliations
Appendix – Non-GAAP Reconciliations 1. Amount does not include mortgage servicing rights 2. Based upon a pro forma 21% tax rate for all periods presented. $s in millions 2017 2018 2019 2020 2021 2022 2023 2024 YTD Q2 2025 1. Tangible Common Equity Shareholders' Equity $ 603,374 $ 624,133 $ 675,122 $
Slide 46: Appendix – Non-GAAP Reconciliations (cont.)
Appendix – Non-GAAP Reconciliations (cont.) 1. Based upon a pro forma 21% tax rate for all periods presented. 2. Excess liquidity is defined by Management as Interest Earning Deposits with Other Banks greater than $40 million 46 $s in millions 2017 2018 2019 2020 2021 2022 2023 2024 YTD Q2 2025 5. C
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