Univest Financial Corporation Reports First Quarter Results

(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