Univest Financial Corporation Reports Fourth Quarter 2025 Results

Univest Financial Corporation Reports Fourth Quarter 2025 Results January 28, 2026 (21.5% increase in earnings per share compared to fourth quarter 2024) 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 CorporationConsolidated 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 12/31/24Assets $8,528,465 $8,191,010 $7,979,475 $7,981,043 $8,163,347 $8,171,555 $7,897,707Investment securities, net of allowance for credit losses 497,201 492,197 497,214 500,078 500,748 496,652 497,051Loans and leases, gross 6,848,654 6,790,827 6,846,938 6,856,503 6,758,649 6,835,586 6,677,206Deposits 7,165,437 6,836,043 6,633,250 6,617,653 6,804,483 6,814,659 6,526,929Shareholders' equity 936,417 923,454 908,536 896,811 880,237 916,433 858,019Univest 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 CorporationConsolidated 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 BasisDecember 31, 2025 September 30, 2025 AverageIncome/Average AverageIncome/Average (Dollars in thousands)BalanceExpenseRate BalanceExpenseRate Assets: Interest-earning deposits with other banks$680,052 $6,8083.97%$395,944 $4,3634.37%Other debt and equity securities 497,201 4,0213.21 492,197 3,9233.16 Federal Home Loan Bank, Federal Reserve Bank and other stock 38,894 7547.69 37,159 7367.86 Total interest-earning deposits, investments and other interest-earning assets 1,216,147 11,5833.78 925,300 9,0223.87 Commercial, financial, and agricultural loans 939,461 15,9006.71 949,676 17,2237.20 Real estate—commercial and construction loans 3,781,248 56,1635.89 3,705,154 55,4695.94 Real estate—residential loans 1,716,569 21,9675.08 1,719,844 21,8465.04 Loans to individuals 13,023 2979.08 13,497 3089.05 Tax-exempt loans and leases 225,707 3,0915.43 229,253 3,0335.25 Lease financings 172,646 3,1587.26 173,403 3,1597.23 Gross loans and leases 6,848,654 100,5765.83 6,790,827 101,0385.90 Total interest-earning assets 8,064,801 112,1595.52 7,716,127 110,0605.66 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 $9,1752.62%$1,293,781 $8,6852.66%Money market savings 2,168,721 19,6793.60 1,915,501 18,7653.89 Regular savings 754,027 1,4440.76 724,927 1,0680.58 Time deposits 1,441,199 14,3713.96 1,482,837 15,1004.04 Total time and interest-bearing deposits 5,753,566 44,6693.08 5,417,046 43,6183.19 Short-term borrowings 21,490 30.06 10,639 10.04 Long-term debt 200,000 2,1444.25 200,000 2,1454.26 Subordinated notes 120,764 2,3517.72 139,127 2,5607.30 Total borrowings 342,254 4,4985.21 349,766 4,7065.34 Total interest-bearing liabilities 6,095,820 49,1673.20 5,766,812 48,3243.32 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 havebeen 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 AverageIncome/Average AverageIncome/Average (Dollars in thousands)BalanceExpenseRate BalanceExpenseRate Assets: Interest-earning deposits with other banks$680,052 $6,8083.97%$402,753 $4,8524.79%Obligations of state and political subdivisions* - -- 1,290 72.16 Other debt and equity securities 497,201 4,0213.21 499,458 3,8153.04 Federal Home Loan Bank, Federal Reserve Bank and other stock 38,894 7547.69 39,407 7467.53 Total interest-earning deposits, investments and other interest-earning assets 1,216,147 11,5833.78 942,908 9,4203.97 - Commercial, financial, and agricultural loans 939,461 15,9006.71 972,840 17,4927.15 Real estate—commercial and construction loans 3,781,248 56,1635.89 3,631,142 53,1635.82 Real estate—residential loans 1,716,569 21,9675.08 1,708,795 21,2494.95 Loans to individuals 13,023 2979.08 25,803 5228.05 Tax-exempt loans and leases 225,707 3,0915.43 233,036 2,6524.53 Lease financings 172,646 3,1587.26 187,033 3,2967.01 Gross loans and leases 6,848,654 100,5765.83 6,758,649 98,3745.79 Total interest-earning assets 8,064,801 112,1595.52 7,701,557 107,7945.57 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 $9,1752.62%$1,275,348 $8,5042.65%Money market savings 2,168,721 19,6793.60 1,954,246 20,6534.20 Regular savings 754,027 1,4440.76 705,222 8170.46 Time deposits 1,441,199 14,3713.96 1,499,998 17,2474.57 Total time and interest-bearing deposits 5,753,566 44,6693.08 5,434,814 47,2213.46 Short-term borrowings 21,490 30.06 7,102 10.06 Long-term debt 200,000 2,1444.25 225,000 2,5014.42 Subordinated notes 120,764 2,3517.72 149,194 2,2816.08 Total borrowings 342,254 4,4985.21 381,296 4,7834.99 Total interest-bearing liabilities 6,095,820 49,1673.20 5,816,110 52,0043.56 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 includedin 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 AverageIncome/Average AverageIncome/Average (Dollars in thousands)BalanceExpenseRate BalanceExpenseRate Assets: Interest-earning deposits with other banks$333,556 $13,9024.17%$220,356 $11,1935.08%Obligations of state and political subdivisions* 217 41.84 1,447 332.28 Other debt and equity securities 496,435 15,9253.21 495,604 14,9093.01 Federal Home Loan Bank, Federal Reserve Bank and other stock 37,584 2,8487.58 38,647 2,9127.53 Total interest-earning deposits, investments and other interest-earning assets 867,792 32,6793.77 756,054 29,0473.84 - Commercial, financial, and agricultural loans 971,245 67,8296.98 972,213 69,9217.19 Real estate—commercial and construction loans 3,720,892 218,4735.87 3,587,147 207,0535.77 Real estate—residential loans 1,723,191 87,1275.06 1,670,126 82,3444.93 Loans to individuals 15,360 1,3358.69 26,646 2,1618.11 Tax-exempt loans and leases 228,478 11,9515.23 232,020 10,1574.38 Lease financings 176,420 12,7497.23 189,054 12,8456.79 Gross loans and leases 6,835,586 399,4645.84 6,677,206 384,4815.76 Total interest-earning assets 7,703,378 432,1435.61 7,433,260 413,5285.56 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 $32,7352.56%$1,191,634 $32,8572.76%Money market savings 1,920,600 73,4243.82 1,801,035 80,2174.45 Regular savings 720,718 4,0240.56 740,493 3,5290.48 Time deposits 1,485,281 61,8384.16 1,413,589 64,2664.55 Total time and interest-bearing deposits 5,407,674 172,0213.18 5,146,751 180,8693.51 Short-term borrowings 11,112 190.17 13,703 2491.82 Long-term debt 204,452 8,7784.29 253,733 10,9424.31 Subordinated notes 139,584 9,4736.79 149,007 9,1256.12 Total borrowings 355,148 18,2705.14 416,443 20,3164.88 Total interest-bearing liabilities 5,762,822 190,2913.30 5,563,194 201,1853.62 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 havebeen 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 DescriptionTotal 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 FinancingsTotal 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 CorporationNon-GAAP ReconciliationDecember 31, 2025 Non-GAAP to GAAP ReconciliationManagement 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] Source: Univest Financial Corporation