Univest Financial Corporation Reports First Quarter Results
Rhea-AI Summary
Univest Financial Corporation (NASDAQ: UVSP) reported Q1 2026 net income of $27.1M, or $0.96 diluted EPS, versus $22.4M, or $0.77 EPS in Q1 2025. The board declared a quarterly cash dividend of $0.23 per share, up $0.01 (4.5%), payable May 20, 2026.
Key operating metrics: net interest income $63.4M, tax-equivalent NIM 3.33%, noninterest income $24.1M, and repurchased 351,138 shares at an average cost of $34.07.
AI-generated analysis. Not financial advice.
Positive
- Net income increased to $27.1M (+20.8% year-over-year)
- Diluted EPS rose to $0.96 (+24.7% vs Q1 2025)
- Dividend raised to $0.23 per share (4.5% increase)
- Net interest income of $63.4M (+11.6% YoY)
- Noninterest income of $24.1M (+7.5% YoY)
- Share repurchases of 351,138 shares; 1.92M shares remain available
Negative
- Total deposits fell $273.6M (3.9%) from 12/31/25
- Nonperforming assets rose to $41.2M from $34.0M year-over-year
- Provision for credit losses declined to $1.3M, raising coverage scrutiny versus prior periods
- Noninterest expense increased to $52.7M (+6.8% YoY), driven by salaries and medical claims
News Market Reaction – UVSP
On the day this news was published, UVSP gained 2.12%, reflecting a moderate positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $23M to the company's valuation, bringing the market cap to $1.09B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
UVSP gained 0.16% on the day, while key regional bank peers showed mixed moves (e.g., SBSI +0.34%, AMAL -0.51%, BHRB -0.31%, FMBH -0.35%, TMP roughly flat). This points to a stock-specific reaction rather than a coordinated sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 07 | Earnings call notice | Neutral | +1.2% | Scheduled First Quarter 2026 earnings call and webcast details. |
| Jan 28 | Quarterly earnings | Positive | -2.1% | Q4 2025 results with higher net income, EPS and net interest income. |
| Jan 08 | Earnings call notice | Neutral | +2.1% | Announcement of Q4 2025 earnings call timing and logistics. |
| Oct 22 | Quarterly earnings | Positive | -0.5% | Q3 2025 earnings with higher EPS, NIM, and noninterest income. |
| Oct 07 | Earnings call notice | Neutral | -1.6% | Notice of Q3 2025 earnings call and brief company snapshot. |
Earnings-related headlines have produced modest moves with a mix of positive and negative reactions; strong result reports have twice coincided with next-day declines.
Over the last several quarters, Univest has repeatedly highlighted improving profitability and balance sheet growth in its earnings communications. Prior results, such as Q3 2025 and Q4 2025, showed higher net income, expanding net interest income and steady dividends, alongside active share repurchases. Call announcements around these results typically produced small single‑day moves. Today’s first‑quarter 2026 report, featuring higher EPS and a dividend increase, continues this earnings‑growth and capital‑return narrative within a similar asset base around $8–8.6 billion.
Historical Comparison
In the past year, UVSP earnings-related headlines have led to only modest average moves of about -0.18%. Today’s slight gain of 0.16% on stronger Q1 EPS and a higher dividend fits this historically muted reaction pattern.
Recent earnings updates show a progression of rising diluted EPS, expanding net interest income and steady or increasing dividends, supported by a balance sheet holding roughly $8–8.6 billion in assets over time.
Market Pulse Summary
This announcement reports higher Q1 2026 profitability, with net income of $27.1M and diluted EPS of $0.96, alongside a dividend increase to $0.23 per share. Net interest margin improved to 3.33%, while noninterest income and expenses both rose. Deposits decreased from year-end 2025, and nonperforming assets reached $41.2M, even as the allowance ratio held at 1.28%. Share repurchases at an average cost of about $34 per share and committed borrowing capacity of $3.7B frame the capital and liquidity backdrop investors may track over coming quarters.
Key Terms
bank owned life insurance financial
nonperforming assets financial
nonaccrual status financial
net interest margin financial
allowance for credit losses financial
held for sale financial
subordinated notes financial
AI-generated analysis. Not financial advice.
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SOUDERTON, Pa., April 22, 2026 (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 March 31, 2026 of
Dividend
On April 22, 2026, Univest declared a quarterly cash dividend of
One-Time Items
The financial results for the quarter included tax-free bank owned life insurance ("BOLI") death benefit proceeds of
Loans
Gross loans and leases increased
Deposits and Liquidity
Total deposits decreased
Noninterest-bearing deposits totaled
As of March 31, 2026, the Corporation and its subsidiaries held cash and cash equivalents totaling
Net Interest Income and Margin
Net interest income of
Net interest margin, on a tax-equivalent basis, was
Noninterest Income
Noninterest income for the quarter ended March 31, 2026 was
Other income increased
Investment advisory commission and fee income increased
Insurance commission and fee income increased
Other service fee income increased
Net gain on mortgage banking activities increased
BOLI income decreased
Noninterest Expense
Noninterest expense for the quarter ended March 31, 2026 was
Salaries, benefits and commissions increased
Restructuring charges increased
Marketing and advertising expense increased
Professional fees decreased
Tax Provision
The effective income tax rate was
Asset Quality and Provision for Credit Losses
Nonperforming assets totaled
Net loan and lease charge-offs were
The provision for credit losses was
Share Repurchases
During the quarter ended March 31, 2026, the Corporation repurchased 351,138 shares of common stock at an average price of
Conference Call
Univest will host a conference call to discuss first quarter 2026 results on Thursday, April 23, 2026 at 9:00 a.m. EDT. Participants may preregister at https://registrations.events/direct/Q4I46085961. The general public can access the call by dialing 1-800-715-9871; referencing Access Code 46085 or "Univest Financial Corporation First Quarter 2026 Earnings Call" to the operator. A replay of the conference call will be available through April 30, 2026 using the following link: https://registrations.events/direct/Q4I46085961.
About Univest Financial Corporation
Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately
This press release and the reports Univest files with the Securities and Exchange Commission often contain "forward-looking statements" relating to trends or factors affecting the financial services industry and, specifically, the financial condition and results of operations, business, prospects and strategies of Univest. These forward-looking statements involve certain risks and uncertainties in that there are a number of important factors that could cause Univest's future financial condition, results of operations, business, prospects or strategies to differ materially from those expressed or implied by the forward-looking statements. These factors include, but are not limited to: (1) competition and demand for financial services in our market area; (2) inflation and/or changes in interest rates, which may adversely impact our margins and yields, reduce the fair value of our financial instruments, reduce our loan originations and/or lead to higher operating costs and higher costs we pay to retain and attract deposits; (3) changes in asset quality, prepayment speeds, loan sale volumes, charge-offs and/or credit loss provisions; (4) fluctuations in real estate values and both residential and commercial real estate market conditions; (5) changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; (6) our ability to access cost-effective funding; (7) changes in economic conditions nationally and in our market, including potential recessionary conditions and the levels of unemployment in our market area; (8) changes in the economic assumptions or methodology used to calculate our allowance for credit losses; (9) legislative, regulatory, accounting or tax changes; (10) monetary and fiscal policies of the U.S. government, including the policies of the Board of Governors of the Federal Reserve System; (11) the effectiveness of our risk management processes and procedures; (12) the ability to maintain and increase market share and control expenses; (13) the imposition of tariffs or other domestic or international governmental policies and retaliatory responses; (14) the impact of a potential government shutdown; (15) the failure to maintain current technologies and to successfully implement future information technology enhancements; (16) technological issues that may adversely affect our operations or those of our customers; (17) a failure or breach in our operational or security systems or infrastructure, including cyberattacks; (18) changes in the securities markets; (19) the current or anticipated impact of military conflict, terrorism or other geopolitical events; (20) our ability to enter into new markets successfully and capitalize on growth opportunities; (21) changes in investor sentiment or consumer spending or savings behavior; and/or (22) risk factors mentioned in the reports and registration statements Univest files with the Securities and Exchange Commission.
(UVSP - ER)
| CONTACT: | Brian J. Richardson |
| UNIVEST FINANCIAL CORPORATION | |
| Chief Financial Officer | |
| 215-721-2446, richardsonb@univest.net |
| Univest Financial Corporation | |||||||||||||||||||
| Consolidated Selected Financial Data (Unaudited) | |||||||||||||||||||
| March 31, 2026 | |||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| Balance Sheet (Period End) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||||||
| ASSETS | |||||||||||||||||||
| Cash and due from banks | $ | 69,645 | $ | 63,579 | $ | 70,843 | $ | 76,624 | $ | 73,319 | |||||||||
| Interest-earning deposits with other banks | 152,712 | 490,133 | 745,896 | 83,741 | 95,815 | ||||||||||||||
| Cash and cash equivalents | 222,357 | 553,712 | 816,739 | 160,365 | 169,134 | ||||||||||||||
| Investment securities held-to-maturity | 119,490 | 123,024 | 126,040 | 128,455 | 130,889 | ||||||||||||||
| Investment securities available for sale, net of allowance for credit losses | 379,028 | 371,251 | 368,393 | 366,421 | 364,503 | ||||||||||||||
| Investments in equity securities | 2,898 | 2,014 | 2,413 | 1,801 | 1,667 | ||||||||||||||
| Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost | 35,511 | 37,808 | 39,617 | 36,482 | 35,732 | ||||||||||||||
| Loans held for sale | 14,371 | 15,288 | 6,330 | 17,774 | 13,150 | ||||||||||||||
| Loans and leases held for investment | 6,940,212 | 6,914,804 | 6,785,482 | 6,801,185 | 6,833,037 | ||||||||||||||
| Less: Allowance for credit losses, loans and leases | (88,900 | ) | (88,165 | ) | (86,527 | ) | (86,989 | ) | (87,790 | ) | |||||||||
| Net loans and leases held for investment | 6,851,312 | 6,826,639 | 6,698,955 | 6,714,196 | 6,745,247 | ||||||||||||||
| Premises and equipment, net | 44,774 | 45,554 | 46,245 | 47,140 | 47,175 | ||||||||||||||
| Operating lease right-of-use assets | 25,032 | 25,795 | 26,536 | 27,278 | 27,182 | ||||||||||||||
| Goodwill | 175,510 | 175,510 | 175,510 | 175,510 | 175,510 | ||||||||||||||
| Other intangibles, net of accumulated amortization | 7,583 | 7,328 | 7,537 | 7,967 | 8,061 | ||||||||||||||
| Bank owned life insurance | 142,141 | 140,001 | 139,044 | 140,086 | 139,482 | ||||||||||||||
| Accrued interest and other assets | 121,575 | 112,973 | 120,257 | 115,581 | 117,435 | ||||||||||||||
| Total assets | $ | 8,141,582 | $ | 8,436,897 | $ | 8,573,616 | $ | 7,939,056 | $ | 7,975,167 | |||||||||
| LIABILITIES | |||||||||||||||||||
| Noninterest-bearing deposits | $ | 1,475,851 | $ | 1,431,974 | $ | 1,390,565 | $ | 1,461,189 | $ | 1,433,995 | |||||||||
| Interest-bearing deposits: | 5,337,912 | 5,655,339 | 5,827,578 | 5,121,471 | 5,224,503 | ||||||||||||||
| Total deposits | 6,813,763 | 7,087,313 | 7,218,143 | 6,582,660 | 6,658,498 | ||||||||||||||
| Short-term borrowings | 26,156 | 24,411 | 11,951 | 6,271 | 4,031 | ||||||||||||||
| Long-term debt | 175,000 | 200,000 | 200,000 | 200,000 | 175,000 | ||||||||||||||
| Subordinated notes | 98,908 | 98,867 | 129,597 | 149,511 | 149,386 | ||||||||||||||
| Operating lease liabilities | 27,699 | 28,531 | 29,310 | 30,106 | 30,062 | ||||||||||||||
| Accrued expenses and other liabilities | 48,106 | 54,457 | 51,396 | 53,775 | 54,718 | ||||||||||||||
| Total liabilities | 7,189,632 | 7,493,579 | 7,640,397 | 7,022,323 | 7,071,695 | ||||||||||||||
| SHAREHOLDERS' EQUITY | |||||||||||||||||||
| Common stock, | 157,784 | 157,784 | 157,784 | 157,784 | 157,784 | ||||||||||||||
| Additional paid-in capital | 301,154 | 304,021 | 302,696 | 301,640 | 300,634 | ||||||||||||||
| Retained earnings | 611,771 | 591,202 | 574,715 | 555,403 | 541,776 | ||||||||||||||
| Accumulated other comprehensive loss, net of tax benefit | (25,951 | ) | (25,467 | ) | (31,636 | ) | (34,969 | ) | (37,922 | ) | |||||||||
| Treasury stock, at cost | (92,808 | ) | (84,222 | ) | (70,340 | ) | (63,125 | ) | (58,800 | ) | |||||||||
| Total shareholders’ equity | 951,950 | 943,318 | 933,219 | 916,733 | 903,472 | ||||||||||||||
| Total liabilities and shareholders’ equity | $ | 8,141,582 | $ | 8,436,897 | $ | 8,573,616 | $ | 7,939,056 | $ | 7,975,167 | |||||||||
| For the three months ended, | |||||||||||||||||||
| Balance Sheet (Average) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||||||
| Assets | $ | 8,250,766 | $ | 8,528,465 | $ | 8,191,010 | $ | 7,979,475 | $ | 7,981,043 | |||||||||
| Investment securities, net of allowance for credit losses | 499,078 | 497,201 | 492,197 | 497,214 | 500,078 | ||||||||||||||
| Loans and leases, gross | 6,939,600 | 6,848,654 | 6,790,827 | 6,846,938 | 6,856,503 | ||||||||||||||
| Deposits | 6,891,928 | 7,165,437 | 6,836,043 | 6,633,250 | 6,617,653 | ||||||||||||||
| Shareholders' equity | 949,509 | 936,417 | 923,454 | 908,536 | 896,811 | ||||||||||||||
| Univest Financial Corporation | |||||||||||||||||||
| Consolidated Summary of Loans by Type and Asset Quality Data (Unaudited) | |||||||||||||||||||
| March 31, 2026 | |||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| Summary of Major Loan and Lease Categories (Period End) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||||||
| Commercial, financial and agricultural | $ | 1,038,947 | $ | 1,027,434 | $ | 996,612 | $ | 1,052,246 | $ | 1,034,361 | |||||||||
| Real estate-commercial | 3,656,779 | 3,621,536 | 3,517,803 | 3,485,615 | 3,546,402 | ||||||||||||||
| Real estate-construction | 299,962 | 306,793 | 309,365 | 302,424 | 281,785 | ||||||||||||||
| Real estate-residential secured for business purpose | 556,040 | 554,178 | 545,191 | 535,210 | 536,082 | ||||||||||||||
| Real estate-residential secured for personal purpose | 942,054 | 959,610 | 974,395 | 984,166 | 992,767 | ||||||||||||||
| Real estate-home equity secured for personal purpose | 201,244 | 200,394 | 197,503 | 195,014 | 189,119 | ||||||||||||||
| Loans to individuals | 12,319 | 12,793 | 13,447 | 14,069 | 16,930 | ||||||||||||||
| Lease financings | 232,867 | 232,066 | 231,166 | 232,441 | 235,591 | ||||||||||||||
| Total loans and leases held for investment, net of deferred income | 6,940,212 | 6,914,804 | 6,785,482 | 6,801,185 | 6,833,037 | ||||||||||||||
| Less: Allowance for credit losses, loans and leases | (88,900 | ) | (88,165 | ) | (86,527 | ) | (86,989 | ) | (87,790 | ) | |||||||||
| Net loans and leases held for investment | $ | 6,851,312 | $ | 6,826,639 | $ | 6,698,955 | $ | 6,714,196 | $ | 6,745,247 | |||||||||
| Asset Quality Data (Period End) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||||||
| Nonaccrual loans and leases | $ | 13,289 | $ | 13,743 | $ | 27,330 | $ | 27,909 | $ | 11,126 | |||||||||
| Accruing loans and leases 90 days or more past due | 3,750 | 89 | 829 | 125 | 322 | ||||||||||||||
| Total nonperforming loans and leases | 17,039 | 13,832 | 28,159 | 28,034 | 11,448 | ||||||||||||||
| Other real estate owned | 24,073 | 23,926 | 23,926 | 22,471 | 22,433 | ||||||||||||||
| Repossessed assets | 124 | 65 | 40 | 80 | 79 | ||||||||||||||
| Total nonperforming assets | $ | 41,236 | $ | 37,823 | $ | 52,125 | $ | 50,585 | $ | 33,960 | |||||||||
| Nonaccrual loans and leases / Loans and leases held for investment | 0.19 | % | 0.20 | % | 0.40 | % | 0.41 | % | 0.16 | % | |||||||||
| Nonperforming loans and leases / Loans and leases held for investment | 0.25 | % | 0.20 | % | 0.41 | % | 0.41 | % | 0.17 | % | |||||||||
| Nonperforming assets / Total assets | 0.51 | % | 0.45 | % | 0.61 | % | 0.64 | % | 0.43 | % | |||||||||
| Allowance for credit losses, loans and leases | $ | 88,900 | $ | 88,165 | $ | 86,527 | $ | 86,989 | $ | 87,790 | |||||||||
| Allowance for credit losses, loans and leases / Loans and leases held for investment | 1.28 | % | 1.28 | % | 1.28 | % | 1.28 | % | 1.28 | % | |||||||||
| Allowance for credit losses, loans and leases / Nonaccrual loans and leases | 668.97 | % | 641.53 | % | 316.60 | % | 311.69 | % | 789.05 | % | |||||||||
| Allowance for credit losses, loans and leases / Nonperforming loans and leases | 521.74 | % | 637.40 | % | 307.28 | % | 310.30 | % | 766.86 | % | |||||||||
| For the three months ended, | |||||||||||||||||||
| 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | |||||||||||||||
| Net loan and lease charge-offs | $ | 1,263 | $ | 1,145 | $ | 480 | $ | 7,807 | $ | 1,686 | |||||||||
| Net loan and lease charge-offs (annualized)/Average loans and leases | 0.07 | % | 0.07 | % | 0.03 | % | 0.46 | % | 0.10 | % | |||||||||
| Univest Financial Corporation | |||||||||||||||
| Consolidated Selected Financial Data (Unaudited) | |||||||||||||||
| March 31, 2026 | |||||||||||||||
| (Dollars in thousands, except per share data) | |||||||||||||||
| For the three months ended, | |||||||||||||||
| For the period: | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||
| Interest income | $ | 106,351 | $ | 111,716 | $ | 109,648 | $ | 105,706 | $ | 103,416 | |||||
| Interest expense | 42,986 | 49,167 | 48,324 | 46,165 | 46,635 | ||||||||||
| Net interest income | 63,365 | 62,549 | 61,324 | 59,541 | 56,781 | ||||||||||
| Provision for credit losses | 1,303 | 3,145 | 517 | 5,694 | 2,311 | ||||||||||
| Net interest income after provision for credit losses | 62,062 | 59,404 | 60,807 | 53,847 | 54,470 | ||||||||||
| Noninterest income: | |||||||||||||||
| Trust fee income | 2,236 | 2,316 | 2,230 | 2,146 | 2,161 | ||||||||||
| Service charges on deposit accounts | 2,279 | 2,237 | 2,302 | 2,258 | 2,194 | ||||||||||
| Investment advisory commission and fee income | 6,154 | 6,055 | 5,671 | 5,460 | 5,613 | ||||||||||
| Insurance commission and fee income | 7,423 | 4,825 | 5,468 | 5,261 | 6,889 | ||||||||||
| Other service fee income | 3,041 | 2,668 | 2,416 | 3,147 | 2,707 | ||||||||||
| Bank owned life insurance income | 1,332 | 970 | 1,908 | 1,012 | 1,959 | ||||||||||
| Net gain on mortgage banking activities | 791 | 886 | 848 | 981 | 647 | ||||||||||
| Other income | 832 | 2,065 | 1,080 | 1,236 | 245 | ||||||||||
| Total noninterest income | 24,088 | 22,022 | 21,923 | 21,501 | 22,415 | ||||||||||
| Noninterest expense: | |||||||||||||||
| Salaries, benefits and commissions | 33,459 | 33,009 | 31,652 | 31,536 | 30,826 | ||||||||||
| Net occupancy | 2,998 | 2,882 | 2,675 | 2,739 | 2,853 | ||||||||||
| Equipment | 1,079 | 1,052 | 1,076 | 1,043 | 1,122 | ||||||||||
| Data processing | 4,480 | 4,390 | 4,263 | 4,408 | 4,364 | ||||||||||
| Professional fees | 1,677 | 1,947 | 1,876 | 1,597 | 1,797 | ||||||||||
| Marketing and advertising | 634 | 479 | 323 | 498 | 353 | ||||||||||
| Deposit insurance premiums | 1,170 | 1,106 | 1,195 | 1,074 | 1,151 | ||||||||||
| Intangible expenses | 93 | 102 | 106 | 131 | 130 | ||||||||||
| Restructuring charges | 427 | - | - | - | - | ||||||||||
| Other expense | 6,652 | 7,743 | 7,503 | 7,306 | 6,732 | ||||||||||
| Total noninterest expense | 52,669 | 52,710 | 50,669 | 50,332 | 49,328 | ||||||||||
| Income before taxes | 33,481 | 28,716 | 32,061 | 25,016 | 27,557 | ||||||||||
| Income tax expense | 6,389 | 5,971 | 6,422 | 5,038 | 5,162 | ||||||||||
| Net income | $ | 27,092 | $ | 22,745 | $ | 25,639 | $ | 19,978 | $ | 22,395 | |||||
| Net income per share: | |||||||||||||||
| Basic | $ | 0.97 | $ | 0.80 | $ | 0.89 | $ | 0.69 | $ | 0.77 | |||||
| Diluted | $ | 0.96 | $ | 0.79 | $ | 0.89 | $ | 0.69 | $ | 0.77 | |||||
| Dividends declared per share | $ | 0.22 | $ | 0.22 | $ | 0.22 | $ | 0.22 | $ | 0.21 | |||||
| Weighted average shares outstanding | 28,032,897 | 28,376,191 | 28,716,582 | 28,859,348 | 29,000,567 | ||||||||||
| Period end shares outstanding | 27,949,173 | 28,156,917 | 28,576,346 | 28,810,805 | 28,962,648 | ||||||||||
| Univest Financial Corporation | |||||||||||||||||||
| Consolidated Selected Financial Data (Unaudited) | |||||||||||||||||||
| March 31, 2026 | |||||||||||||||||||
| For the three months ended, | |||||||||||||||||||
| Profitability Ratios (annualized) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | ||||||||||||||
| Return on average assets | 1.33 | % | 1.06 | % | 1.24 | % | 1.00 | % | 1.14 | % | |||||||||
| Return on average assets, excluding restructuring | 1.35 | % | 1.06 | % | 1.24 | % | 1.00 | % | 1.14 | % | |||||||||
| charges (1) | |||||||||||||||||||
| Return on average shareholders' equity | 11.57 | % | 9.64 | % | 11.02 | % | 8.82 | % | 10.13 | % | |||||||||
| Return on average shareholders' equity, excluding | 11.72 | % | 9.64 | % | 11.02 | % | 8.82 | % | 10.13 | % | |||||||||
| restructuring charges (1) | |||||||||||||||||||
| Return on average tangible common equity (1)(3) | 14.27 | % | 11.93 | % | 13.68 | % | 11.02 | % | 12.69 | % | |||||||||
| Return on average tangible common equity, excluding | 14.45 | % | 11.93 | % | 13.68 | % | 11.02 | % | 12.69 | % | |||||||||
| restructuring charges (1)(3) | |||||||||||||||||||
| Net interest margin (FTE) | 3.33 | % | 3.10 | % | 3.17 | % | 3.20 | % | 3.09 | % | |||||||||
| Efficiency ratio (2) | 59.7 | % | 61.8 | % | 60.2 | % | 61.6 | % | 61.6 | % | |||||||||
| Capitalization Ratios | |||||||||||||||||||
| Dividends declared to net income | 22.8 | % | 27.5 | % | 24.7 | % | 31.8 | % | 27.2 | % | |||||||||
| Shareholders' equity to assets (Period End) | 11.69 | % | 11.18 | % | 10.88 | % | 11.55 | % | 11.33 | % | |||||||||
| Tangible common equity to tangible assets (1) | 9.72 | % | 9.27 | % | 9.00 | % | 9.52 | % | 9.31 | % | |||||||||
| Common equity book value per share | $ | 34.06 | $ | 33.50 | $ | 32.66 | $ | 31.82 | $ | 31.19 | |||||||||
| Tangible common equity book value per share (1) | $ | 27.71 | $ | 27.20 | $ | 26.45 | $ | 25.66 | $ | 25.06 | |||||||||
| Regulatory Capital Ratios (Period End) | |||||||||||||||||||
| Tier 1 leverage ratio | 9.95 | % | 9.51 | % | 9.85 | % | 9.94 | % | 9.80 | % | |||||||||
| Common equity tier 1 risk-based capital ratio | 11.32 | % | 11.22 | % | 11.40 | % | 11.19 | % | 10.97 | % | |||||||||
| Tier 1 risk-based capital ratio | 11.32 | % | 11.22 | % | 11.40 | % | 11.19 | % | 10.97 | % | |||||||||
| Total risk-based capital ratio | 13.95 | % | 13.86 | % | 14.28 | % | 14.58 | % | 14.35 | % | |||||||||
| (1) Non-GAAP metric. A reconciliation of this and other non-GAAP to GAAP performance measures is included below. | |||||||||||||||||||
| (2) Noninterest expense to net interest income before loan loss provision plus noninterest income adjusted for tax equivalent income. | |||||||||||||||||||
| (3) Net income before amortization of intangibles to average tangible common equity. | |||||||||||||||||||
| Univest Financial Corporation | ||||||||||||||
| Average Balances and Interest Rates (Unaudited) | ||||||||||||||
| For the Three Months Ended, | ||||||||||||||
| Tax Equivalent Basis | March 31, 2026 | December 31, 2025 | ||||||||||||
| Average | Income/ | Average | Average | Income/ | Average | |||||||||
| (Dollars in thousands) | Balance | Expense | Rate | Balance | Expense | Rate | ||||||||
| Assets: | ||||||||||||||
| Interest-earning deposits with other banks | $ | 306,797 | $ | 2,810 | 3.71 | % | $ | 680,052 | $ | 6,808 | 3.97 | % | ||
| Other debt and equity securities | 499,078 | 4,053 | 3.29 | 497,201 | 4,021 | 3.21 | ||||||||
| Federal Home Loan Bank, Federal Reserve Bank and other stock | 37,286 | 704 | 7.66 | 38,894 | 754 | 7.69 | ||||||||
| Total interest-earning deposits, investments and other interest-earning assets | 843,161 | 7,567 | 3.64 | 1,216,147 | 11,583 | 3.78 | ||||||||
| Commercial, financial, and agricultural loans | 959,673 | 15,331 | 6.48 | 939,461 | 15,900 | 6.71 | ||||||||
| Real estate—commercial and construction loans | 3,861,156 | 55,796 | 5.86 | 3,781,248 | 56,163 | 5.89 | ||||||||
| Real estate—residential loans | 1,710,239 | 21,526 | 5.10 | 1,716,569 | 21,967 | 5.08 | ||||||||
| Loans to individuals | 12,396 | 273 | 8.93 | 13,023 | 297 | 9.08 | ||||||||
| Tax-exempt loans and leases | 223,166 | 3,116 | 5.66 | 225,707 | 3,091 | 5.43 | ||||||||
| Lease financings | 172,970 | 3,212 | 7.53 | 172,646 | 3,158 | 7.26 | ||||||||
| Gross loans and leases | 6,939,600 | 99,254 | 5.80 | 6,848,654 | 100,576 | 5.83 | ||||||||
| Total interest-earning assets | 7,782,761 | 106,821 | 5.57 | 8,064,801 | 112,159 | 5.52 | ||||||||
| Cash and due from banks | 57,980 | 56,000 | ||||||||||||
| Allowance for credit losses, loans and leases | (88,832 | ) | (87,615 | ) | ||||||||||
| Premises and equipment, net | 45,359 | 46,062 | ||||||||||||
| Operating lease right-of-use assets | 25,414 | 26,153 | ||||||||||||
| Other assets | 428,084 | 423,064 | ||||||||||||
| Total assets | $ | 8,250,766 | $ | 8,528,465 | ||||||||||
| Liabilities: | ||||||||||||||
| Interest-bearing checking deposits | $ | 1,280,570 | $ | 7,722 | 2.45 | % | $ | 1,389,619 | $ | 9,175 | 2.62 | % | ||
| Money market savings | 2,045,306 | 16,918 | 3.35 | 2,168,721 | 19,679 | 3.60 | ||||||||
| Regular savings | 765,296 | 1,372 | 0.73 | 754,027 | 1,444 | 0.76 | ||||||||
| Time deposits | 1,389,144 | 13,130 | 3.83 | 1,441,199 | 14,371 | 3.96 | ||||||||
| Total time and interest-bearing deposits | 5,480,316 | 39,142 | 2.90 | 5,753,566 | 44,669 | 3.08 | ||||||||
| Short-term borrowings | 25,578 | 3 | 0.05 | 21,490 | 3 | 0.06 | ||||||||
| Long-term debt | 201,389 | 2,093 | 4.21 | 200,000 | 2,144 | 4.25 | ||||||||
| Subordinated notes | 98,897 | 1,748 | 7.17 | 120,764 | 2,351 | 7.72 | ||||||||
| Total borrowings | 325,864 | 3,844 | 4.78 | 342,254 | 4,498 | 5.21 | ||||||||
| Total interest-bearing liabilities | 5,806,180 | 42,986 | 3.00 | 6,095,820 | 49,167 | 3.20 | ||||||||
| Noninterest-bearing deposits | 1,411,612 | 1,411,871 | ||||||||||||
| Operating lease liabilities | 28,116 | 28,902 | ||||||||||||
| Accrued expenses and other liabilities | 55,349 | 55,455 | ||||||||||||
| Total liabilities | 7,301,257 | 7,592,048 | ||||||||||||
| Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") | 7,217,792 | 2.42 | 7,507,691 | 2.60 | ||||||||||
| Shareholders' Equity: | ||||||||||||||
| Common stock | 157,784 | 157,784 | ||||||||||||
| Additional paid-in capital | 303,413 | 303,235 | ||||||||||||
| Retained earnings and other equity | 488,312 | 475,398 | ||||||||||||
| Total shareholders' equity | 949,509 | 936,417 | ||||||||||||
| Total liabilities and shareholders' equity | $ | 8,250,766 | $ | 8,528,465 | ||||||||||
| Net interest income | $ | 63,835 | $ | 62,992 | ||||||||||
| Net interest spread | 2.57 | 2.32 | ||||||||||||
| Effect of net interest-free funding sources | 0.76 | 0.78 | ||||||||||||
| Net interest margin | 3.33 | % | 3.10 | % | ||||||||||
| Ratio of average interest-earning assets to average interest-bearing liabilities | 134.04 | % | 132.30 | % | ||||||||||
| * Obligations of states and political subdivisions are tax-exempt earning assets. | ||||||||||||||
| Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. | ||||||||||||||
| Net interest income includes net deferred costs amortization of | ||||||||||||||
| 2026 and December 31, 2025, respectively. | ||||||||||||||
| Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included | ||||||||||||||
| in the average loan balances. Tax-equivalent amounts for the three months ended March 31, 2026 and December 31, 2025 have | ||||||||||||||
| been calculated using the Corporation’s federal applicable rate of | ||||||||||||||
| Univest Financial Corporation | ||||||||||||||
| Average Balances and Interest Rates (Unaudited) | ||||||||||||||
| For the Three Months Ended March 31, | ||||||||||||||
| Tax Equivalent Basis | 2026 | 2025 | ||||||||||||
| Average | Income/ | Average | Average | Income/ | Average | |||||||||
| (Dollars in thousands) | Balance | Expense | Rate | Balance | Expense | Rate | ||||||||
| Assets: | ||||||||||||||
| Interest-earning deposits with other banks | $ | 306,797 | $ | 2,810 | 3.71 | % | $ | 119,997 | $ | 1,360 | 4.60 | % | ||
| Obligations of state and political subdivisions* | - | - | - | 879 | 4 | 1.85 | ||||||||
| Other debt and equity securities | 499,078 | 4,053 | 3.29 | 499,199 | 4,019 | 3.27 | ||||||||
| Federal Home Loan Bank, Federal Reserve Bank and other stock | 37,286 | 704 | 7.66 | 37,561 | 687 | 7.42 | ||||||||
| Total interest-earning deposits, investments and other interest-earning assets | 843,161 | 7,567 | 3.64 | 657,636 | 6,070 | 3.74 | ||||||||
| Commercial, financial, and agricultural loans | 959,673 | 15,331 | 6.48 | 990,860 | 17,020 | 6.97 | ||||||||
| Real estate—commercial and construction loans | 3,861,156 | 55,796 | 5.86 | 3,704,232 | 52,676 | 5.77 | ||||||||
| Real estate—residential loans | 1,710,239 | 21,526 | 5.10 | 1,729,146 | 21,542 | 5.05 | ||||||||
| Loans to individuals | 12,396 | 273 | 8.93 | 19,438 | 393 | 8.20 | ||||||||
| Tax-exempt loans and leases | 223,166 | 3,116 | 5.66 | 230,133 | 2,861 | 5.04 | ||||||||
| Lease financings | 172,970 | 3,212 | 7.53 | 182,694 | 3,240 | 7.19 | ||||||||
| Gross loans and leases | 6,939,600 | 99,254 | 5.80 | 6,856,503 | 97,732 | 5.78 | ||||||||
| Total interest-earning assets | 7,782,761 | 106,821 | 5.57 | 7,514,139 | 103,802 | 5.60 | ||||||||
| Cash and due from banks | 57,980 | 56,690 | ||||||||||||
| Allowance for credit losses, loans and leases | (88,832 | ) | (87,822 | ) | ||||||||||
| Premises and equipment, net | 45,359 | 46,852 | ||||||||||||
| Operating lease right-of-use assets | 25,414 | 27,761 | ||||||||||||
| Other assets | 428,084 | 423,423 | ||||||||||||
| Total assets | $ | 8,250,766 | $ | 7,981,043 | ||||||||||
| Liabilities: | ||||||||||||||
| Interest-bearing checking deposits | $ | 1,280,570 | $ | 7,722 | 2.45 | % | $ | 1,222,012 | $ | 7,075 | 2.35 | % | ||
| Money market savings | 2,045,306 | 16,918 | 3.35 | 1,840,194 | 18,035 | 3.97 | ||||||||
| Regular savings | 765,296 | 1,372 | 0.73 | 702,543 | 763 | 0.44 | ||||||||
| Time deposits | 1,389,144 | 13,130 | 3.83 | 1,476,495 | 16,106 | 4.42 | ||||||||
| Total time and interest-bearing deposits | 5,480,316 | 39,142 | 2.90 | 5,241,244 | 41,979 | 3.25 | ||||||||
| Short-term borrowings | 25,578 | 3 | 0.05 | 6,909 | 14 | 0.82 | ||||||||
| Long-term debt | 201,389 | 2,093 | 4.21 | 217,500 | 2,361 | 4.40 | ||||||||
| Subordinated notes | 98,897 | 1,748 | 7.17 | 149,319 | 2,281 | 6.20 | ||||||||
| Total borrowings | 325,864 | 3,844 | 4.78 | 373,728 | 4,656 | 5.05 | ||||||||
| Total interest-bearing liabilities | 5,806,180 | 42,986 | 3.00 | 5,614,972 | 46,635 | 3.37 | ||||||||
| Noninterest-bearing deposits | 1,411,612 | 1,376,409 | ||||||||||||
| Operating lease liabilities | 28,116 | 30,675 | ||||||||||||
| Accrued expenses and other liabilities | 55,349 | 62,176 | ||||||||||||
| Total liabilities | 7,301,257 | 7,084,232 | ||||||||||||
| Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") | 7,217,792 | 2.42 | 6,991,381 | 2.71 | ||||||||||
| Shareholders' Equity: | ||||||||||||||
| Common stock | 157,784 | 157,784 | ||||||||||||
| Additional paid-in capital | 303,413 | 302,653 | ||||||||||||
| Retained earnings and other equity | 488,312 | 436,374 | ||||||||||||
| Total shareholders' equity | 949,509 | 896,811 | ||||||||||||
| Total liabilities and shareholders' equity | $ | 8,250,766 | $ | 7,981,043 | ||||||||||
| Net interest income | $ | 63,835 | $ | 57,167 | ||||||||||
| Net interest spread | 2.57 | 2.23 | ||||||||||||
| Effect of net interest-free funding sources | 0.76 | 0.86 | ||||||||||||
| Net interest margin | 3.33 | % | 3.09 | % | ||||||||||
| Ratio of average interest-earning assets to average interest-bearing liabilities | 134.04 | % | 133.82 | % | ||||||||||
| * Obligations of states and political subdivisions are tax-exempt earning assets. | ||||||||||||||
| Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments. | ||||||||||||||
| Net interest income includes net deferred costs amortization of | ||||||||||||||
| March 31, 2026 and 2025, respectively. | ||||||||||||||
| Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included | ||||||||||||||
| in the average loan balances. Tax-equivalent amounts for the three months ended March 31, 2026 and 2025 have been | ||||||||||||||
| calculated using the Corporation’s federal applicable rate of | ||||||||||||||
| Univest Financial Corporation | |||||
| Loan Portfolio Overview (Unaudited) | |||||
| March 31, 2026 | |||||
| (Dollars in thousands) | |||||
| Industry Description | Total Outstanding Balance | % of Commercial Loan Portfolio | |||
| Animal Production | 432,795 | 7.8 | % | ||
| CRE - Retail | 428,107 | 7.7 | |||
| CRE - Multi-family | 389,616 | 7.0 | |||
| CRE - 1-4 Family Residential Investment | 276,464 | 5.0 | |||
| Hotels & Motels (Accommodation) | 268,311 | 4.8 | |||
| CRE - Office | 255,519 | 4.6 | |||
| CRE - Industrial / Warehouse | 221,472 | 4.0 | |||
| Specialty Trade Contractors | 212,762 | 3.8 | |||
| Nursing and Residential Care Facilities | 163,252 | 2.9 | |||
| Homebuilding (tract developers, remodelers) | 149,383 | 2.7 | |||
| Crop Production | 136,365 | 2.5 | |||
| Merchant Wholesalers, Durable Goods | 132,459 | 2.4 | |||
| Repair and Maintenance | 128,533 | 2.3 | |||
| CRE - Mixed-Use - Commercial | 120,441 | 2.2 | |||
| Motor Vehicle and Parts Dealers | 119,414 | 2.2 | |||
| CRE - Mixed-Use - Residential | 109,227 | 2.0 | |||
| Nondepository Credit Intermediation and Related Activities (except 5221) | 104,189 | 1.9 | |||
| Wood Product Manufacturing | 103,621 | 1.9 | |||
| Administrative and Support Services | 97,371 | 1.8 | |||
| Food Services and Drinking Places | 90,711 | 1.6 | |||
| Professional, Scientific, and Technical Services | 90,018 | 1.6 | |||
| Education | 82,622 | 1.5 | |||
| Merchant Wholesalers, Nondurable Goods | 81,088 | 1.5 | |||
| Fabricated Metal Product Manufacturing | 78,283 | 1.4 | |||
| Amusement, Gambling, and Recreation Industries | 75,792 | 1.4 | |||
| Personal and Laundry Services | 64,254 | 1.2 | |||
| Food Manufacturing | 63,358 | 1.1 | |||
| Miniwarehouse / Self-Storage | 63,051 | 1.1 | |||
| Religious Organizations, Advocacy Groups | 62,815 | 1.1 | |||
| Private Equity & Special Purpose Entities (except 52592) | 56,916 | 1.0 | |||
| Machinery Manufacturing | 56,210 | 1.0 | |||
| Industries with > | $ | 4,714,419 | 84.9 | % | |
| Industries with < | $ | 837,309 | 15.1 | % | |
| Total Commercial Loans | $ | 5,551,728 | 100.0 | % | |
| Consumer Loans and Lease Financings | Total Outstanding Balance | ||||
| Real Estate-Residential Secured for Personal Purpose | 942,054 | ||||
| Real Estate-Home Equity Secured for Personal Purpose | 201,244 | ||||
| Loans to Individuals | 12,319 | ||||
| Lease Financings | 232,867 | ||||
| Total - Consumer Loans and Lease Financings | $ | 1,388,484 | |||
| Total | $ | 6,940,212 | |||
| Univest Financial Corporation | ||||||||||||||||||||
| Non-GAAP Reconciliation | ||||||||||||||||||||
| March 31, 2026 | ||||||||||||||||||||
| Non-GAAP to GAAP Reconciliation | ||||||||||||||||||||
| Management uses non-GAAP measures in its analysis of the Corporation's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of the non-GAAP financial measures, which exclude the impact of the specified items, provides useful supplemental information that is essential to a proper understanding of the financial results of the Corporation. See the table below for additional information on non-GAAP measures used throughout this earnings release. | ||||||||||||||||||||
| As of or for the three months ended, | ||||||||||||||||||||
| (Dollars in thousands) | 03/31/26 | 12/31/25 | 09/30/25 | 06/30/25 | 03/31/25 | |||||||||||||||
| Restructuring charges (a) | $ | 427 | $ | - | $ | - | $ | - | $ | - | ||||||||||
| Tax effect of restructuring charges | (90 | ) | - | - | - | - | ||||||||||||||
| Restructuring charges, net of tax | $ | 337 | $ | - | $ | - | $ | - | $ | - | ||||||||||
| Net income | $ | 27,092 | $ | 22,745 | $ | 25,639 | $ | 19,978 | $ | 22,395 | ||||||||||
| Amortization of intangibles, net of tax | 73 | 81 | 84 | 103 | 103 | |||||||||||||||
| Net income before amortization of intangibles | $ | 27,165 | $ | 22,826 | $ | 25,723 | $ | 20,081 | $ | 22,498 | ||||||||||
| Shareholders' equity | $ | 951,950 | $ | 943,318 | $ | 933,219 | $ | 916,733 | $ | 903,472 | ||||||||||
| Goodwill | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | ||||||||||
| Other intangibles (b) | (1,959 | ) | (1,919 | ) | (1,966 | ) | (2,040 | ) | (2,104 | ) | ||||||||||
| Tangible common equity | $ | 774,481 | $ | 765,889 | $ | 755,743 | $ | 739,183 | $ | 725,858 | ||||||||||
| Total assets | $ | 8,141,582 | $ | 8,436,897 | $ | 8,573,616 | $ | 7,939,056 | $ | 7,975,167 | ||||||||||
| Goodwill | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | ||||||||||
| Other intangibles (b) | (1,959 | ) | (1,919 | ) | (1,966 | ) | (2,040 | ) | (2,104 | ) | ||||||||||
| Tangible assets | $ | 7,964,113 | $ | 8,259,468 | $ | 8,396,140 | $ | 7,761,506 | $ | 7,797,553 | ||||||||||
| Average shareholders' equity | $ | 949,509 | $ | 936,417 | $ | 923,454 | $ | 908,536 | $ | 896,811 | ||||||||||
| Average goodwill | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | (175,510 | ) | ||||||||||
| Average other intangibles (b) | (1,922 | ) | (1,935 | ) | (1,983 | ) | (2,068 | ) | (2,162 | ) | ||||||||||
| Average tangible common equity | $ | 772,077 | $ | 758,972 | $ | 745,961 | $ | 730,958 | $ | 719,139 | ||||||||||
| (a) Associated with planned closure of two underutilized facilities; a financial center and a limited purpose banking office | ||||||||||||||||||||
| (b) Amount does not include mortgage servicing rights | ||||||||||||||||||||
