Univest Financial Corporation Reports Fourth Quarter 2025 Results

SOUDERTON, Pa., Jan. 28, 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 December 31, 2025 of $22.7 million, or $0.79 diluted earnings per share, compared to net income of $18.9 million, or $0.65 diluted earnings per share, for the quarter ended December 31, 2024. For the year ended December 31, 2025, net income totaled $90.8 million, or $3.13 diluted earnings per share, compared to net income of $75.9 million, or $2.58 diluted earnings per share, for the year ended December 31, 2024.

Loans


Gross loans and leases increased $129.3 million, or 1.9% (7.6% annualized), from September 30, 2025, primarily due to increases in commercial and commercial real estate loans, partially offset by a decrease in residential mortgage loans. Gross loans and leases increased $88.2 million, or 1.3%, from December 31, 2024, primarily due to increases in construction, commercial real estate and home equity loans, partially offset by decreases in commercial and residential mortgage loans and lease financings.

Deposits and Liquidity


Total deposits decreased $130.8 million, or 1.8% (7.2% annualized), from September 30, 2025, primarily due to decreases in public funds and commercial deposits, partially offset by increases in consumer and brokered deposits. Total deposits increased $328.1 million, or 4.9%, from December 31, 2024, primarily due to increases in commercial, brokered and public funds deposits, partially offset by a decrease in consumer deposits.

Noninterest-bearing deposits totaled $1.4 billion and represented 20.2% of total deposits at December 31, 2025, compared to $1.4 billion representing 19.3% of total deposits at September 30, 2025. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion at December 31, 2025 and September 30, 2025. This represented 23.2% of total deposits at December 31, 2025, compared to 22.0% at September 30, 2025.

As of December 31, 2025, the Corporation and its subsidiaries held cash and cash equivalents totaling $553.7 million. The Corporation and its subsidiaries had committed borrowing capacity of $3.8 billion, of which $2.3 billion was available. The Corporation and its subsidiaries also maintained uncommitted funding sources from correspondent banks of $457.0 million at December 31, 2025. Future availability under these uncommitted funding sources is subject to the prerogatives of the granting banks and may be withdrawn at will.

Net Interest Income and Margin


Net interest income of $62.5 million for the fourth quarter of 2025 increased $7.1 million, or 12.8%, from the fourth quarter of 2024 and $1.2 million, or 2.0%, from the third quarter of 2025. The increase in net interest income for the fourth quarter of 2025 compared to the fourth quarter of 2024 was driven by higher average balances of loans and cash and cash equivalents and increased loan yields, as well as a reduction in our cost of funds, offset by decreases in the yield on cash and cash equivalents and an increase in deposits. The increase in net interest income for the fourth quarter of 2025 compared to the third quarter of 2025 was primarily driven by the increased average balance of cash and cash equivalents and a reduction in our cost of funds, offset by decreases in the yield on cash and cash equivalents and an increase in deposits.

Net interest margin, on a tax-equivalent basis, was 3.10% for the fourth quarter of 2025, compared to 3.17% for the third quarter of 2025 and 2.88% for the fourth quarter of 2024. Excess liquidity reduced net interest margin by approximately 27 basis points for the quarter ended December 31, 2025 compared to approximately 16 basis points for the quarter ended September 30, 2025 and approximately 14 basis points for the quarter ended December 31, 2024. Excluding the impact of excess liquidity, the net interest margin, on a tax-equivalent basis, would have been 3.37% for the quarter ended December 31, 2025 compared to 3.33% for the third quarter of 2025 and 3.02% for the fourth quarter of 2024.

Noninterest Income


Noninterest income for the quarter ended December 31, 2025 was $22.0 million, an increase of $692 thousand, or 3.2%, from the comparable period in the prior year.

Investment advisory commission and fee income increased $598 thousand, or 11.0%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year, primarily due to the appreciation of assets under management and supervision and new customer relationships.

Other income increased $1.2 million, or 137.9%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year. Fees on risk participation agreements for interest rate swaps increased $480 thousand due to increased demand. Additionally, income on other real estate owned increased $837 thousand for the quarter ended December 31, 2025 compared to the comparable period in the prior year due to leasing-related activities in the respective periods.

Other service fee income decreased $805 thousand, or 23.2%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year. The three months ended December 31, 2024 included a reversal of a $785 thousand valuation allowance on mortgage servicing rights that was initially recorded in the third quarter of 2024. The reversal was driven by a decrease in prepayment speed assumptions as a result of the increase in interest rates during the fourth quarter of 2024.

Net gain on mortgage banking activities decreased $434 thousand, or 32.9%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year, primarily due to decreased salable volume.

Noninterest Expense


Noninterest expense for the quarter ended December 31, 2025 was $52.7 million, an increase of $2.1 million, or 4.1%, from the comparable period in the prior year.

Salaries, benefits and commissions increased $1.5 million, or 4.7%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year, primarily due to annual merit increases and an increase in incentive compensation due to increased profitability, partially offset by an increase in capitalized compensation driven by higher loan production.

Professional fees increased $278 thousand, or 16.7%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year driven by an increase in consultant fees for data integration resources and legal fees.

Data processing increased $244 thousand, or 5.9%, for the quarter ended December 31, 2025 compared to the comparable period in the prior year due to increased costs on long-term service contracts.

Tax Provision


The effective income tax rate was 20.8% for the quarter ended December 31, 2025, compared to an effective tax rate of 20.3% for the quarter ended December 31, 2024.

Asset Quality and Provision for Credit Losses


Nonperforming assets totaled $37.8 million at December 31, 2025, $52.1 million at September 30, 2025, and $33.2 million at December 31, 2024. During the fourth quarter, loans totaling $13.9 million related to a nonaccrual commercial loan relationship were paid off and a $449 thousand recovery was recognized. This relationship was placed on nonaccrual during the second quarter of 2025. As of December 31, 2025, a residential property related to this relationship remains in other real estate owned with a carrying value of $1.4 million.

Net loan and lease charge-offs were $1.1 million for the three months ended December 31, 2025 compared to $480 thousand and $767 thousand for the three months ended September 30, 2025 and December 31, 2024, respectively.

The provision for credit losses was $3.1 million for the three months ended December 31, 2025 compared to $517 thousand and $2.4 million for the three months ended September 30, 2025 and December 31, 2024, respectively. The allowance for credit losses on loans and leases as a percentage of loans and leases held for investment was 1.28% at December 31, 2025, September 30, 2025, and December 31, 2024.

Dividend and Share Repurchases


On January 28, 2026, Univest declared a quarterly cash dividend of $0.22 per share to be paid on February 25, 2026 to shareholders of record as of February 11, 2026. On December 10, 2025, the Board of Directors of the Corporation approved an increase of 2,000,000 shares available for repurchase under the Corporation’s share repurchase program, or approximately 7.1% of the Corporation’s common stock outstanding as of November 30, 2025. During the quarter ended December 31, 2025, the Corporation repurchased 479,690 shares of common stock at an average price of $31.82 per share. Including brokerage fees and excise tax, the average cost per share was $32.17. As of December 31, 2025, 2,270,937 shares are available for repurchase under the Share Repurchase Plan.

Conference Call


Univest will host a conference call to discuss fourth quarter 2025 results on Thursday, January 29, 2026 at 9:00 a.m. EDT. Participants may preregister at https://www.netroadshow.com/events/login/LE9zwo3ifeosEEag73U8miOA26AU31t8QCP. The general public can access the call by dialing 1-833-470-1428; using Access Code 927698. A replay of the conference call will be available through February 5, 2026 by dialing 1-866-813-9403; using Access Code 393949.

About Univest Financial Corporation


Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $8.4 billion in assets and $5.9 billion in assets under management and supervision through its Wealth Management lines of business at December 31, 2025. Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations primarily in the Mid-Atlantic Region. Univest delivers these services through a network of more than 50 offices and online at www.univest.net.  

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 imposition of tariffs or other domestic or international governmental policies and retaliatory responses; (12) the impact of a potential government shutdown; (13) the failure to maintain current technologies and to successfully implement future information technology enhancements; (14) technological issues that may adversely affect our operations or those of our customers; (15) a failure or breach in our operational or security systems or infrastructure, including cyberattacks; (16) changes in the securities markets; (17) the current or anticipated impact of military conflict, terrorism or other geopolitical events; (18) our ability to enter into new markets successfully and capitalize on growth opportunities; (19) changes in investor sentiment or consumer spending or savings behavior; and/or (20) risk factors mentioned in the reports and registration statements Univest files with the Securities and Exchange Commission.

(UVSP – ER)

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
December 31, 2025
(Dollars in thousands)
Balance Sheet (Period End)		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24
ASSETS
Cash and due from banks		$	63,579			$	70,843			$	76,624			$	73,319			$	75,998
Interest-earning deposits with other banks			490,133				745,896				83,741				95,815				252,846
Cash and cash equivalents			553,712				816,739				160,365				169,134				328,844
Investment securities held-to-maturity			123,024				126,040				128,455				130,889				134,111
Investment securities available for sale, net of allowance for credit losses			371,251				368,393				366,421				364,503				357,361
Investments in equity securities			2,014				2,413				1,801				1,667				2,506
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost			37,808				39,617				36,482				35,732				38,980
Loans held for sale			15,288				6,330				17,774				13,150				16,653
Loans and leases held for investment			6,914,804				6,785,482				6,801,185				6,833,037				6,826,583
Less: Allowance for credit losses, loans and leases			(88,165	)			(86,527	)			(86,989	)			(87,790	)			(87,091	)
Net loans and leases held for investment			6,826,639				6,698,955				6,714,196				6,745,247				6,739,492
Premises and equipment, net			45,554				46,245				47,140				47,175				46,671
Operating lease right-of-use assets			25,795				26,536				27,278				27,182				28,531
Goodwill			175,510				175,510				175,510				175,510				175,510
Other intangibles, net of accumulated amortization			7,328				7,537				7,967				8,061				8,309
Bank owned life insurance			140,001				139,044				140,086				139,482				139,351
Accrued interest and other assets			112,973				120,257				115,581				117,435				112,098
Total assets		$	8,436,897			$	8,573,616			$	7,939,056			$	7,975,167			$	8,128,417
LIABILITIES
Noninterest-bearing deposits		$	1,431,974			$	1,390,565			$	1,461,189			$	1,433,995			$	1,414,635
Interest-bearing deposits:			5,655,339				5,827,578				5,121,471				5,224,503				5,344,624
Total deposits			7,087,313				7,218,143				6,582,660				6,658,498				6,759,259
Short-term borrowings			24,411				11,951				6,271				4,031				11,181
Long-term debt			200,000				200,000				200,000				175,000				225,000
Subordinated notes			98,867				129,597				149,511				149,386				149,261
Operating lease liabilities			28,531				29,310				30,106				30,062				31,485
Accrued expenses and other liabilities			54,457				51,396				53,775				54,718				64,930
Total liabilities			7,493,579				7,640,397				7,022,323				7,071,695				7,241,116
SHAREHOLDERS’ EQUITY
Common stock, $5 par value: 48,000,000 shares authorized and 31,556,799 shares issued			157,784				157,784				157,784				157,784				157,784
Additional paid-in capital			304,021				302,696				301,640				300,634				302,829
Retained earnings			591,202				574,715				555,403				541,776				525,780
Accumulated other comprehensive loss, net of tax benefit			(25,467	)			(31,636	)			(34,969	)			(37,922	)			(43,992	)
Treasury stock, at cost			(84,222	)			(70,340	)			(63,125	)			(58,800	)			(55,100	)
Total shareholders’ equity			943,318				933,219				916,733				903,472				887,301
Total liabilities and shareholders’ equity		$	8,436,897			$	8,573,616			$	7,939,056			$	7,975,167			$	8,128,417
		For the three months ended,																				For the twelve months ended,
Balance Sheet (Average)		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24				12/31/25			12/31/24
Assets		$	8,528,465			$	8,191,010			$	7,979,475			$	7,981,043			$	8,163,347			$	8,171,555		$	7,897,707
Investment securities, net of allowance for credit losses			497,201				492,197				497,214				500,078				500,748				496,652			497,051
Loans and leases, gross			6,848,654				6,790,827				6,846,938				6,856,503				6,758,649				6,835,586			6,677,206
Deposits			7,165,437				6,836,043				6,633,250				6,617,653				6,804,483				6,814,659			6,526,929
Shareholders’ equity			936,417				923,454				908,536				896,811				880,237				916,433			858,019

Univest Financial Corporation
Consolidated Summary of Loans by Type and Asset Quality Data (Unaudited)
December 31, 2025
(Dollars in thousands)
Summary of Major Loan and Lease Categories (Period End)		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24
Commercial, financial and agricultural		$	1,027,434			$	996,612			$	1,052,246			$	1,034,361			$	1,037,835
Real estate-commercial			3,621,536				3,517,803				3,485,615				3,546,402				3,530,451
Real estate-construction			306,793				309,365				302,424				281,785				274,483
Real estate-residential secured for business purpose			554,178				545,191				535,210				536,082				536,095
Real estate-residential secured for personal purpose			959,610				974,395				984,166				992,767				994,972
Real estate-home equity secured for personal purpose			200,394				197,503				195,014				189,119				186,836
Loans to individuals			12,793				13,447				14,069				16,930				21,250
Lease financings			232,066				231,166				232,441				235,591				244,661
Total loans and leases held for investment, net of deferred income			6,914,804				6,785,482				6,801,185				6,833,037				6,826,583
Less: Allowance for credit losses, loans and leases			(88,165	)			(86,527	)			(86,989	)			(87,790	)			(87,091	)
Net loans and leases held for investment		$	6,826,639			$	6,698,955			$	6,714,196			$	6,745,247			$	6,739,492
Asset Quality Data (Period End)		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24
Nonaccrual loans and leases, including nonaccrual loans held for sale		$	13,743			$	27,330			$	27,909			$	11,126			$	12,667
Accruing loans and leases 90 days or more past due			89				829				125				322				321
Total nonperforming loans and leases			13,832				28,159				28,034				11,448				12,988
Other real estate owned			23,926				23,926				22,471				22,433				20,141
Repossessed assets			65				40				80				79				76
Total nonperforming assets		$	37,823			$	52,125			$	50,585			$	33,960			$	33,205
Nonaccrual loans and leases / Loans and leases held for investment			0.20	%			0.40	%			0.41	%			0.16	%			0.19	%
Nonperforming loans and leases / Loans and leases held for investment			0.20	%			0.41	%			0.41	%			0.17	%			0.19	%
Nonperforming assets / Total assets			0.45	%			0.61	%			0.64	%			0.43	%			0.41	%
Allowance for credit losses, loans and leases		$	88,165			$	86,527			$	86,989			$	87,790			$	87,091
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			641.53	%			316.60	%			311.69	%			789.05	%			687.54	%
Allowance for credit losses, loans and leases / Nonperforming loans and leases			637.40	%			307.28	%			310.30	%			766.86	%			670.55	%
		For the three months ended,																				For the twelve months ended,
		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24				12/31/25				12/31/24
Net loan and lease charge-offs		$	1,145			$	480			$	7,807			$	1,686			$	767			$	11,118			$	3,802
Net loan and lease charge-offs (annualized)/Average loans and leases			0.07	%			0.03	%			0.46	%			0.10	%			0.05	%			0.16	%			0.06	%

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
December 31, 2025
(Dollars in thousands, except per share data)
		For the three months ended,															For the twelve months ended,
For the period:		12/31/25			09/30/25			06/30/25			03/31/25			12/31/24			12/31/25			12/31/24
Interest income		$	111,716		$	109,648		$	105,706		$	103,416		$	107,476		$	430,486		$	412,355
Interest expense			49,167			48,324			46,165			46,635			52,004			190,291			201,185
Net interest income			62,549			61,324			59,541			56,781			55,472			240,195			211,170
Provision for credit losses			3,145			517			5,694			2,311			2,380			11,667			5,933
Net interest income after provision for credit losses			59,404			60,807			53,847			54,470			53,092			228,528			205,237
Noninterest income:
Trust fee income			2,316			2,230			2,146			2,161			2,265			8,853			8,491
Service charges on deposit accounts			2,237			2,302			2,258			2,194			2,192			8,991			8,082
Investment advisory commission and fee income			6,055			5,671			5,460			5,613			5,457			22,799			21,208
Insurance commission and fee income			4,825			5,468			5,261			6,889			4,743			22,443			22,349
Other service fee income			2,668			2,416			3,147			2,707			3,473			10,938			14,747
Bank owned life insurance income			970			1,908			1,012			1,959			1,012			5,849			3,861
Net gain on sales of investment securities			–			–			–			–			–			–			18
Net gain on mortgage banking activities			886			848			981			647			1,320			3,362			5,265
Other income			2,065			1,080			1,236			245			868			4,626			4,034
Total noninterest income			22,022			21,923			21,501			22,415			21,330			87,861			88,055
Noninterest expense:
Salaries, benefits and commissions			33,009			31,652			31,536			30,826			31,518			127,023			123,745
Net occupancy			2,882			2,675			2,739			2,853			2,751			11,149			11,025
Equipment			1,052			1,076			1,043			1,122			1,147			4,293			4,453
Data processing			4,390			4,263			4,408			4,364			4,146			17,425			16,956
Professional fees			1,947			1,876			1,597			1,797			1,669			7,217			6,402
Marketing and advertising			479			323			498			353			552			1,653			2,173
Deposit insurance premiums			1,106			1,195			1,074			1,151			1,102			4,526			4,432
Intangible expenses			102			106			131			130			155			469			694
Other expense			7,743			7,503			7,306			6,732			7,618			29,284			28,112
Total noninterest expense			52,710			50,669			50,332			49,328			50,658			203,039			197,992
Income before taxes			28,716			32,061			25,016			27,557			23,764			113,350			95,300
Income tax expense			5,971			6,422			5,038			5,162			4,823			22,593			19,369
Net income		$	22,745		$	25,639		$	19,978		$	22,395		$	18,941		$	90,757		$	75,931
Net income per share:
Basic		$	0.80		$	0.89		$	0.69		$	0.77		$	0.65		$	3.16		$	2.60
Diluted		$	0.79		$	0.89		$	0.69		$	0.77		$	0.65		$	3.13		$	2.58
Dividends declared per share		$	0.22		$	0.22		$	0.22		$	0.21		$	0.21		$	0.87		$	0.84
Weighted average shares outstanding			28,376,191			28,716,582			28,859,348			29,000,567			29,070,039			28,734,922			29,215,365
Period end shares outstanding			28,156,917			28,576,346			28,810,805			28,962,648			29,045,877			28,156,917			29,045,877

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
December 31, 2025
		For the three months ended,																				For the twelve months ended,
Profitability Ratios (annualized)		12/31/25				09/30/25				06/30/25				03/31/25				12/31/24				12/31/25				12/31/24
Return on average assets			1.06	%			1.24	%			1.00	%			1.14	%			0.92	%			1.11	%			0.96	%
Return on average shareholders’ equity			9.64	%			11.02	%			8.82	%			10.13	%			8.56	%			9.90	%			8.85	%
Return on average tangible common equity (1)(3)			11.93	%			13.68	%			11.02	%			12.69	%			10.79	%			12.33	%			11.24	%
Net interest margin (FTE)			3.10	%			3.17	%			3.20	%			3.09	%			2.88	%			3.14	%			2.86	%
Efficiency ratio (2)			61.8	%			60.2	%			61.6	%			61.6	%			65.5	%			61.3	%			65.7	%
Capitalization Ratios
Dividends declared to net income			27.5	%			24.7	%			31.8	%			27.2	%			32.2	%			27.6	%			32.3	%
Shareholders’ equity to assets (Period End)			11.18	%			10.88	%			11.55	%			11.33	%			10.92	%			11.18	%			10.92	%
Tangible common equity to tangible assets (1)			9.27	%			9.00	%			9.52	%			9.31	%			8.92	%			9.27	%			8.92	%
Common equity book value per share		$	33.50			$	32.66			$	31.82			$	31.19			$	30.55			$	33.50			$	30.55
Tangible common equity book value per share (1)		$	27.20			$	26.45			$	25.66			$	25.06			$	24.43			$	27.20			$	24.43
Regulatory Capital Ratios (Period End)
Tier 1 leverage ratio			9.51	%			9.85	%			9.94	%			9.80	%			9.51	%			9.51	%			9.51	%
Common equity tier 1 risk-based capital ratio			11.22	%			11.40	%			11.19	%			10.97	%			10.85	%			11.22	%			10.85	%
Tier 1 risk-based capital ratio			11.22	%			11.40	%			11.19	%			10.97	%			10.85	%			11.22	%			10.85	%
Total risk-based capital ratio			13.86	%			14.28	%			14.58	%			14.35	%			14.19	%			13.86	%			14.19	%
(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	December 31, 2025							September 30, 2025
	Average			Income/		Average		Average			Income/		Average
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate
Assets:
Interest-earning deposits with other banks	$	680,052		$	6,808	3.97	%	$	395,944		$	4,363	4.37	%
Other debt and equity securities		497,201			4,021	3.21			492,197			3,923	3.16
Federal Home Loan Bank, Federal Reserve Bank and other stock		38,894			754	7.69			37,159			736	7.86
Total interest-earning deposits, investments and other interest-earning assets		1,216,147			11,583	3.78			925,300			9,022	3.87
Commercial, financial, and agricultural loans		939,461			15,900	6.71			949,676			17,223	7.20
Real estate—commercial and construction loans		3,781,248			56,163	5.89			3,705,154			55,469	5.94
Real estate—residential loans		1,716,569			21,967	5.08			1,719,844			21,846	5.04
Loans to individuals		13,023			297	9.08			13,497			308	9.05
Tax-exempt loans and leases		225,707			3,091	5.43			229,253			3,033	5.25
Lease financings		172,646			3,158	7.26			173,403			3,159	7.23
Gross loans and leases		6,848,654			100,576	5.83			6,790,827			101,038	5.90
Total interest-earning assets		8,064,801			112,159	5.52			7,716,127			110,060	5.66
Cash and due from banks		56,000							60,950
Allowance for credit losses, loans and leases		(87,615	)						(88,202	)
Premises and equipment, net		46,062							46,980
Operating lease right-of-use assets		26,153							26,901
Other assets		423,064							428,254
Total assets	$	8,528,465						$	8,191,010
Liabilities:
Interest-bearing checking deposits	$	1,389,619		$	9,175	2.62	%	$	1,293,781		$	8,685	2.66	%
Money market savings		2,168,721			19,679	3.60			1,915,501			18,765	3.89
Regular savings		754,027			1,444	0.76			724,927			1,068	0.58
Time deposits		1,441,199			14,371	3.96			1,482,837			15,100	4.04
Total time and interest-bearing deposits		5,753,566			44,669	3.08			5,417,046			43,618	3.19
Short-term borrowings		21,490			3	0.06			10,639			1	0.04
Long-term debt		200,000			2,144	4.25			200,000			2,145	4.26
Subordinated notes		120,764			2,351	7.72			139,127			2,560	7.30
Total borrowings		342,254			4,498	5.21			349,766			4,706	5.34
Total interest-bearing liabilities		6,095,820			49,167	3.20			5,766,812			48,324	3.32
Noninterest-bearing deposits		1,411,871							1,418,997
Operating lease liabilities		28,902							29,702
Accrued expenses and other liabilities		55,455							52,045
Total liabilities		7,592,048							7,267,556
Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)		7,507,691				2.60			7,185,809				2.67
Shareholders’ Equity:
Common stock		157,784							157,784
Additional paid-in capital		303,235							302,063
Retained earnings and other equity		475,398							463,607
Total shareholders’ equity		936,417							923,454
Total liabilities and shareholders’ equity	$	8,528,465						$	8,191,010
Net interest income				$	62,992						$	61,736
Net interest spread						2.32							2.34
Effect of net interest-free funding sources						0.78							0.83
Net interest margin						3.10	%						3.17	%
Ratio of average interest-earning assets to average interest-bearing liabilities		132.30	%						133.80	%
* 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 $559 thousand and $687 thousand for the three months ended December 31, 2025 and September 30, 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 December 31, 2025 and September 30, 2025 have
been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation
Average Balances and Interest Rates (Unaudited)
				For the Three Months Ended December 31,
Tax Equivalent Basis					2025							2024
	Average			Income/		Average		Average			Income/		Average
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate
Assets:
Interest-earning deposits with other banks	$	680,052		$	6,808	3.97	%	$	402,753		$	4,852	4.79	%
Obligations of state and political subdivisions*		–			–	–			1,290			7	2.16
Other debt and equity securities		497,201			4,021	3.21			499,458			3,815	3.04
Federal Home Loan Bank, Federal Reserve Bank and other stock		38,894			754	7.69			39,407			746	7.53
Total interest-earning deposits, investments and other interest-earning assets		1,216,147			11,583	3.78			942,908			9,420	3.97
									–
Commercial, financial, and agricultural loans		939,461			15,900	6.71			972,840			17,492	7.15
Real estate—commercial and construction loans		3,781,248			56,163	5.89			3,631,142			53,163	5.82
Real estate—residential loans		1,716,569			21,967	5.08			1,708,795			21,249	4.95
Loans to individuals		13,023			297	9.08			25,803			522	8.05
Tax-exempt loans and leases		225,707			3,091	5.43			233,036			2,652	4.53
Lease financings		172,646			3,158	7.26			187,033			3,296	7.01
Gross loans and leases		6,848,654			100,576	5.83			6,758,649			98,374	5.79
Total interest-earning assets		8,064,801			112,159	5.52			7,701,557			107,794	5.57
Cash and due from banks		56,000							56,989
Allowance for credit losses, loans and leases		(87,615	)						(86,812	)
Premises and equipment, net		46,062							47,155
Operating lease right-of-use assets		26,153							28,891
Other assets		423,064							415,567
Total assets	$	8,528,465						$	8,163,347
Liabilities:
Interest-bearing checking deposits	$	1,389,619		$	9,175	2.62	%	$	1,275,348		$	8,504	2.65	%
Money market savings		2,168,721			19,679	3.60			1,954,246			20,653	4.20
Regular savings		754,027			1,444	0.76			705,222			817	0.46
Time deposits		1,441,199			14,371	3.96			1,499,998			17,247	4.57
Total time and interest-bearing deposits		5,753,566			44,669	3.08			5,434,814			47,221	3.46
Short-term borrowings		21,490			3	0.06			7,102			1	0.06
Long-term debt		200,000			2,144	4.25			225,000			2,501	4.42
Subordinated notes		120,764			2,351	7.72			149,194			2,281	6.08
Total borrowings		342,254			4,498	5.21			381,296			4,783	4.99
Total interest-bearing liabilities		6,095,820			49,167	3.20			5,816,110			52,004	3.56
Noninterest-bearing deposits		1,411,871							1,369,669
Operating lease liabilities		28,902							31,864
Accrued expenses and other liabilities		55,455							65,467
Total liabilities		7,592,048							7,283,110
Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)		7,507,691				2.60			7,185,779				2.88
Shareholders’ Equity:
Common stock		157,784							157,784
Additional paid-in capital		303,235							301,895
Retained earnings and other equity		475,398							420,558
Total shareholders’ equity		936,417							880,237
Total liabilities and shareholders’ equity	$	8,528,465						$	8,163,347
Net interest income				$	62,992						$	55,790
Net interest spread						2.32							2.01
Effect of net interest-free funding sources						0.78							0.87
Net interest margin						3.10	%						2.88	%
Ratio of average interest-earning assets to average interest-bearing liabilities		132.30	%						132.42	%
* 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 $559 thousand and $676 thousand for the three months ended
December 31, 2025 and 2024, 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 December 31, 2025 and 2024 have been
calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation
Average Balances and Interest Rates (Unaudited)
				For the Twelve Months Ended December 31,
Tax Equivalent Basis					2025							2024
	Average			Income/		Average		Average			Income/		Average
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate
Assets:
Interest-earning deposits with other banks	$	333,556		$	13,902	4.17	%	$	220,356		$	11,193	5.08	%
Obligations of state and political subdivisions*		217			4	1.84			1,447			33	2.28
Other debt and equity securities		496,435			15,925	3.21			495,604			14,909	3.01
Federal Home Loan Bank, Federal Reserve Bank and other stock		37,584			2,848	7.58			38,647			2,912	7.53
Total interest-earning deposits, investments and other interest-earning assets		867,792			32,679	3.77			756,054			29,047	3.84
									–
Commercial, financial, and agricultural loans		971,245			67,829	6.98			972,213			69,921	7.19
Real estate—commercial and construction loans		3,720,892			218,473	5.87			3,587,147			207,053	5.77
Real estate—residential loans		1,723,191			87,127	5.06			1,670,126			82,344	4.93
Loans to individuals		15,360			1,335	8.69			26,646			2,161	8.11
Tax-exempt loans and leases		228,478			11,951	5.23			232,020			10,157	4.38
Lease financings		176,420			12,749	7.23			189,054			12,845	6.79
Gross loans and leases		6,835,586			399,464	5.84			6,677,206			384,481	5.76
Total interest-earning assets		7,703,378			432,143	5.61			7,433,260			413,528	5.56
Cash and due from banks		57,252							57,799
Allowance for credit losses, loans and leases		(87,942	)						(86,530	)
Premises and equipment, net		46,797							48,610
Operating lease right-of-use assets		26,936							29,990
Other assets		425,134							414,578
Total assets	$	8,171,555						$	7,897,707
Liabilities:
Interest-bearing checking deposits	$	1,281,075		$	32,735	2.56	%	$	1,191,634		$	32,857	2.76	%
Money market savings		1,920,600			73,424	3.82			1,801,035			80,217	4.45
Regular savings		720,718			4,024	0.56			740,493			3,529	0.48
Time deposits		1,485,281			61,838	4.16			1,413,589			64,266	4.55
Total time and interest-bearing deposits		5,407,674			172,021	3.18			5,146,751			180,869	3.51
Short-term borrowings		11,112			19	0.17			13,703			249	1.82
Long-term debt		204,452			8,778	4.29			253,733			10,942	4.31
Subordinated notes		139,584			9,473	6.79			149,007			9,125	6.12
Total borrowings		355,148			18,270	5.14			416,443			20,316	4.88
Total interest-bearing liabilities		5,762,822			190,291	3.30			5,563,194			201,185	3.62
Noninterest-bearing deposits		1,406,985							1,380,178
Operating lease liabilities		29,765							33,006
Accrued expenses and other liabilities		55,550							63,310
Total liabilities		7,255,122							7,039,688
Total interest-bearing liabilities and noninterest-bearing deposits (“Cost of Funds”)		7,169,807				2.65			6,943,372				2.90
Shareholders’ Equity:
Common stock		157,784							157,784
Additional paid-in capital		302,243							300,644
Retained earnings and other equity		456,406							399,591
Total shareholders’ equity		916,433							858,019
Total liabilities and shareholders’ equity	$	8,171,555						$	7,897,707
Net interest income				$	241,852						$	212,343
Net interest spread						2.31							1.94
Effect of net interest-free funding sources						0.83							0.92
Net interest margin						3.14	%						2.86	%
Ratio of average interest-earning assets to average interest-bearing liabilities		133.67	%						133.61	%
* 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 $2.5 million and $2.7 million for the twelve months ended December 31,
2025 and 2024, 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 twelve months ended December 31, 2025 and 2024 have
been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation
Loan Portfolio Overview (Unaudited)
December 31, 2025
(Dollars in thousands)
Industry Description	Total Outstanding Balance			% of Commercial Loan Portfolio
CRE – Retail		437,864		7.9	%
Animal Production		428,809		7.8
CRE – Multi-family		383,688		7.0
CRE – 1-4 Family Residential Investment		277,643		5.0
Hotels & Motels (Accommodation)		259,170		4.7
CRE – Office		244,534		4.4
CRE – Industrial / Warehouse		222,619		4.0
Specialty Trade Contractors		209,450		3.8
Nursing and Residential Care Facilities		163,938		3.0
Homebuilding (tract developers, remodelers)		150,906		2.7
Merchant Wholesalers, Durable Goods		137,124		2.5
Crop Production		135,818		2.5
Repair and Maintenance		124,570		2.3
Motor Vehicle and Parts Dealers		116,657		2.1
CRE – Mixed-Use – Commercial		114,659		2.1
CRE – Mixed-Use – Residential		108,517		2.0
Administrative and Support Services		99,083		1.8
Wood Product Manufacturing		98,771		1.8
Real Estate Lenders, Secondary Market Financing		93,066		1.7
Professional, Scientific, and Technical Services		92,883		1.7
Food Services and Drinking Places		90,211		1.6
Fabricated Metal Product Manufacturing		79,947		1.5
Merchant Wholesalers, Nondurable Goods		79,922		1.5
Education		78,031		1.4
Amusement, Gambling, and Recreation Industries		76,874		1.4
Religious Organizations, Advocacy Groups		65,397		1.2
Miniwarehouse / Self-Storage		63,371		1.2
Personal and Laundry Services		62,052		1.1
Food Manufacturing		59,804		1.1
Machinery Manufacturing		52,598		1.0
Industries with >$50 million in outstandings	$	4,607,976		83.6	%
Industries with <$50 million in outstandings	$	901,965		16.4	%
Total Commercial Loans	$	5,509,941		100.0	%
Consumer Loans and Lease Financings	Total Outstanding Balance
Real Estate-Residential Secured for Personal Purpose		959,610
Real Estate-Home Equity Secured for Personal Purpose		200,394
Loans to Individuals		12,793
Lease Financings		232,066
Total – Consumer Loans and Lease Financings	$	1,404,863
Total	$	6,914,804

Univest Financial Corporation
Non-GAAP Reconciliation
December 31, 2025
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,																				As of or for the twelve months ended,
(Dollars in thousands)				12/31/25				09/30/25				06/30/25				03/31/25				12/31/24				12/31/25				12/31/24
Net income				$	22,745			$	25,639			$	19,978			$	22,395			$	18,941			$	90,757			$	75,931
Amortization of intangibles, net of tax					81				84				103				103				122				371				548
Net income before amortization of intangibles				$	22,826			$	25,723			$	20,081			$	22,498			$	19,063			$	91,128			$	76,479
Shareholders’ equity				$	943,318			$	933,219			$	916,733			$	903,472			$	887,301			$	943,318			$	887,301
Goodwill					(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Other intangibles (a)					(1,919	)			(1,966	)			(2,040	)			(2,104	)			(2,263	)			(1,919	)			(2,263	)
Tangible common equity				$	765,889			$	755,743			$	739,183			$	725,858			$	709,528			$	765,889			$	709,528
Total assets				$	8,436,897			$	8,573,616			$	7,939,056			$	7,975,167			$	8,128,417			$	8,436,897			$	8,128,417
Goodwill					(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Other intangibles (a)					(1,919	)			(1,966	)			(2,040	)			(2,104	)			(2,263	)			(1,919	)			(2,263	)
Tangible assets				$	8,259,468			$	8,396,140			$	7,761,506			$	7,797,553			$	7,950,644			$	8,259,468			$	7,950,644
Average shareholders’ equity				$	936,417			$	923,454			$	908,536			$	896,811			$	880,237			$	916,433			$	858,019
Average goodwill					(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Average other intangibles (a)					(1,935	)			(1,983	)			(2,068	)			(2,162	)			(2,146	)			(2,036	)			(2,193	)
Average tangible common equity				$	758,972			$	745,961			$	730,958			$	719,139			$	702,581			$	738,887			$	680,316
(a) Amount does not include mortgage servicing rights

CONTACT: 
Brian J. Richardson
UNIVEST FINANCIAL CORPORATION
Chief Financial Officer
215-721-2446, [email protected]