(24.7% increase in earnings per share compared to 2025 first quarter)
(4.5% increase in dividend)
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 $27.1 million, or $0.96 diluted earnings per share, compared to net income of $22.4 million, or $0.77 diluted earnings per share, for the quarter ended March 31, 2025.
Dividend
On April 22, 2026, Univest declared a quarterly cash dividend of $0.23 per share to be paid on May 20, 2026 to shareholders of record as of May 6, 2026, which represents an increase of $0.01 per share, or 4.5%. Univest had last increased its dividend by $0.01 per share in May 2025.
One-Time Items
The financial results for the quarter included tax-free bank owned life insurance ("BOLI") death benefit proceeds of $372 thousand, which represented $0.01 diluted earnings per share. In addition, the financial results for the quarter included a $427 thousand restructuring charge ($337 thousand after-tax), or $0.01 diluted earnings per share, related to the planned closure of two underutilized facilities: a financial center and a limited purpose banking office.
Loans
Gross loans and leases increased $25.4 million, or 0.4% (1.6% annualized), from December 31, 2025, primarily due to increases in commercial and commercial real estate loans, partially offset by decreases in construction and residential mortgage loans. Gross loans and leases increased $107.2 million, or 1.6%, from March 31, 2025, driven primarily by growth in construction, commercial, commercial real estate, and home equity loans. This growth was partially offset by a decline in residential mortgage loans, which is consistent with our strategy to focus balance sheet growth on full-relationship customers which will improve our loan-to-deposit ratio.
Deposits and Liquidity
Total deposits decreased $273.6 million, or 3.9% (15.6% annualized), from December 31, 2025 due to decreases in commercial, consumer, brokered deposits, and public funds, primarily reflecting seasonal public funds runoff during the quarter. Total deposits increased $155.3 million, or 2.3%, from March 31, 2025, primarily due to an increase in commercial deposits, partially offset by decreases in consumer, brokered and public funds deposits.
Noninterest-bearing deposits totaled $1.5 billion and represented 21.7% of total deposits at March 31, 2026, compared to $1.4 billion representing 20.2% of total deposits at December 31, 2025. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion at March 31, 2026 and December 31, 2025. This represented 23.7% of total deposits at March 31, 2026, compared to 23.2% at December 31, 2025.
As of March 31, 2026, the Corporation and its subsidiaries held cash and cash equivalents totaling $222.4 million. The Corporation and its subsidiaries had committed borrowing capacity of $3.7 billion, of which $2.4 billion was available. The Corporation and its subsidiaries also maintained uncommitted funding sources from correspondent banks of $472.0 million at March 31, 2026. 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 $63.4 million for the first quarter of 2026 increased $6.6 million, or 11.6%, from the first quarter of 2025 and $816 thousand, or 1.3%, from the fourth quarter of 2025. The increase in net interest income for the first quarter of 2026 compared to the first quarter of 2025 was driven by higher average balances of loans and cash and cash equivalents, as well as a reduction in our cost of funds offset by higher average balances of interest-bearing liabilities. The increase in net interest income for the first quarter of 2026 compared to the fourth quarter of 2025 was primarily driven by the lower average balances and reduced costs of interest-bearing liabilities, partially offset by lower average balances and reduced yields on interest-earning deposits with other banks.
Net interest margin, on a tax-equivalent basis, was 3.33% for the first quarter of 2026, compared to 3.10% for the fourth quarter of 2025 and 3.09% for the first quarter of 2025. Excess liquidity reduced net interest margin by approximately 11 basis points for the quarter ended March 31, 2026 compared to approximately 27 basis points for the quarter ended December 31, 2025 and approximately three basis points for the quarter ended March 31, 2025. Excluding the impact of excess liquidity, the net interest margin, on a tax-equivalent basis, would have been 3.44% for the quarter ended March 31, 2026 compared to 3.37% for the fourth quarter of 2025 and 3.12% for the quarter ended March 31, 2025.
Noninterest Income
Noninterest income for the quarter ended March 31, 2026 was $24.1 million, an increase of $1.7 million, or 7.5%, from the comparable period in the prior year.
Other income increased $587 thousand, or 239.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. Fees on risk participation agreements for interest rate swaps increased $219 thousand due to increased demand. Additionally, income on other real estate owned for the three months ended March 31, 2025 included a one-time expense of $254 thousand related to building repairs.
Investment advisory commission and fee income increased $541 thousand, or 9.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, driven by appreciation in assets under management and new customer relationships.
Insurance commission and fee income increased $534 thousand, or 7.8%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to an increase of $342 thousand in premiums on commercial lines. Additionally, contingent income increased $194 thousand for the quarter, from $1.6 million for the three months ended March 31, 2025 to $1.8 million for the three months ended March 31, 2026. Contingent income is largely recognized in the first quarter of the year.
Other service fee income increased $334 thousand, or 12.3%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. This was driven by a $284 thousand decrease in the valuation allowance on servicing rights in the first quarter of 2026 compared to a $19 thousand increase in the first quarter of 2025.
Net gain on mortgage banking activities increased $144 thousand, or 22.3%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to increased salable volume.
BOLI income decreased $627 thousand, or 32.0%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. The financial results for the three months ended March 31, 2026 included $372 thousand in BOLI death benefit proceeds compared to $1.0 million for the three months ended March 31, 2025.
Noninterest Expense
Noninterest expense for the quarter ended March 31, 2026 was $52.7 million, an increase of $3.3 million, or 6.8%, from the comparable period in the prior year.
Salaries, benefits and commissions increased $2.6 million, or 8.5%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily driven by higher salary expense of $1.3 million. Additionally, medical claims expense increased by $753 thousand, or 48.8%. The Corporation maintains a self-insured medical plan and is responsible for claim costs up to the stop loss limit. This results in expense volatility based on the timing and magnitude of claims.
Restructuring charges increased $427 thousand for the quarter ended March 31, 2026 compared to the comparable period in the prior year as previously discussed.
Marketing and advertising expense increased $281 thousand, or 79.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. This increase was primarily driven by the inclusion of certain sponsorship activities that were historically reported in Other Expense and the Corporation's entry into a sponsorship agreement with a local university, enhancing community engagement and visibility.
Professional fees decreased $120 thousand, or 6.7%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to reduced consultant fees.
Tax Provision
The effective income tax rate was 19.1% and 18.7% for the quarters ended March 31, 2026 and March 31, 2025, respectively. The discrete tax effect of vested equity compensation awards favorably impacted the first quarters of 2026 and 2025 by 132 and 71 basis points, respectively. Additionally, the effective tax rates for the three months ended March 31, 2026 and 2025 were favorably impacted by 21 and 73 basis points, respectively, from the proceeds of BOLI death benefit proceeds. Excluding the discrete impact of vested equity compensation awards and BOLI death benefit proceeds, the effective tax rate was 20.6% for the three months ended March 31, 2026 compared to 20.2% for the three months ended March 31, 2025.
Asset Quality and Provision for Credit Losses
Nonperforming assets totaled $41.2 million at March 31, 2026, $37.8 million at December 31, 2025, and $34.0 million at March 31, 2025. During the first quarter, a $3.9 million commercial real estate loan and a $1.0 million residential real estate loan secured for business purpose were placed on nonaccrual status. Subsequent to their nonaccrual designation, these loans incurred charge-offs totaling $652 thousand and were transferred to held-for-sale status.
Net loan and lease charge-offs were $1.3 million for the three months ended March 31, 2026 compared to $1.1 million and $1.7 million for the three months ended December 31, 2025 and March 31, 2025, respectively.
The provision for credit losses was $1.3 million for the three months ended March 31, 2026 compared to $3.1 million and $2.3 million for the three months ended December 31, 2025 and March 31, 2025, respectively. The allowance for credit losses on loans and leases as a percentage of loans and leases held for investment was 1.28% at March 31, 2026, December 31, 2025, and March 31, 2025.
Share Repurchases
During the quarter ended March 31, 2026, the Corporation repurchased 351,138 shares of common stock at an average price of $33.70 per share. Including brokerage fees and excise tax, the average cost per share was $34.07. As of March 31, 2026, 1,919,799 shares are available for repurchase under the Share Repurchase Plan.
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 $8.1 billion in assets and $5.8 billion in assets under management and supervision through its Wealth Management lines of business at March 31, 2026. 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 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, $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 | 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 $793 thousand and $559 thousand for the three months ended March 31, | ||||||||||||||
| 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 21.0%. | ||||||||||||||
| 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 $793 thousand and $554 thousand for the three months ended | ||||||||||||||
| 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 21.0%. | ||||||||||||||
| 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 >$50 million in outstandings | - | 4,714,419 | 84.9 | - | |
| Industries with <$50 million in outstandings | - | 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 | ||||||||||||||||||||
