Univest Financial Corporation (UVSP) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining today's call. Can I take your first and your last name, please? Thank you. And what company are you calling from today? Thank you. I'll get your transfer into the call now. Commercial loan commitments through September 30th were $808 million compared to $659 million in the prior year. However, this has resulted in contraction in loan outstandings year-to-date of $41.1 million compared to growth of $163.5 million in the prior year. Deposits increased significantly during the quarter by $635.5 million compared predominantly due to the seasonal build of public funds deposit $473.2 million. Excluding the build in public funds deposits, deposits increased $162 million during the quarter. During the second quarter of this year, we recorded a $7.3 million charge-off related to a commercial loan relationship that had been placed on non-accrual and had a $16.4 million carrying balance as of June 3, 2025. As of September 30, 2005, the carrying balance of loans and other real estate owned related to this relationship totaled $13.9 million and $1.4 million respectively. The $13.9 million of loans is secured by commercial real estate, which is under the control of a court receiver. The receiver has entered into an agreement with the property, which is subject to court approval. If the sale is approved by the court and Consummated in accordance with the executed agreement, we expect the proceeds will adequately cover our carrying balance resulting in further charge-offs. With regards to the $1.4 million asset, the carrying balance is supported by appraisal and eviction proceedings are underway. Before I pass it over to Brian, I would like to thank the entire Univest family for the great work they do today and for their continued efforts serving our customers,...