Univest Corporation Of Pennsylvania ( (UVSP) ) has released its Q1 earnings. Here is a breakdown of the information Univest Corporation Of Pennsylvania presented to its investors.
Univest Financial Corporation, headquartered in Souderton, Pennsylvania, is a diversified financial services company offering banking, insurance, investments, and equipment financing primarily in the Mid-Atlantic region. With a history dating back to 1876, Univest operates through a network of over 50 offices.
In its latest earnings report for the first quarter of 2025, Univest Financial Corporation announced a net income of $22.4 million, or $0.77 per diluted share, marking an increase from the previous year’s $20.3 million, or $0.69 per diluted share. The company also declared a 4.8% increase in its quarterly dividend, reflecting its commitment to returning value to shareholders.
Key financial highlights for the quarter include a 10.3% rise in net interest income to $56.8 million, driven by higher average loan balances and increased yields on interest-earning assets. Despite a decrease in noninterest income by 12.4% due to lower gains from mortgage servicing rights sales, Univest maintained strong asset quality with nonperforming assets totaling $34 million, down from $40 million a year ago.
Univest’s strategic management of deposits and borrowings was evident, with a 1.5% decrease in total deposits from the previous quarter due to seasonal factors, while borrowings decreased by 14.8% as long-term advances matured. The company also repurchased 221,760 shares of common stock during the quarter, contributing to a robust shareholders’ equity position.
Looking ahead, Univest Financial Corporation remains focused on leveraging its diversified financial services platform to navigate market conditions and drive sustainable growth. The management’s outlook emphasizes maintaining strong capital and liquidity positions to support future opportunities and challenges in the financial services industry.