Univest Financial Corporation Reports Second Quarter Results

SOUDERTON, Pa., July 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 June 30, 2026 of $23.0 million, or $0.82 diluted earnings per share, compared to net income of $20.0 million, or $0.69 diluted earnings per share, for the quarter ended June 30, 2025.

Notable Non-Core Items

The financial results for the quarter included a pre-tax charge of $5.2 million ($4.1 million after-tax), or $0.15 diluted earnings per share, related to a valuation adjustment on an other real estate owned ("OREO") property. The adjustment was recorded based on an updated appraisal which reflects the property's estimated fair value less costs to sell. The property was initially transferred to OREO during the quarter ended June 30, 2022 and was listed for sale during the quarter ended June 30, 2025. The financial results for the quarter also included tax-free bank owned life insurance ("BOLI") death benefit proceeds of $708 thousand, which represented $0.03 diluted earnings per share.

Loans

Gross loans and leases increased $101.7 million, or 1.5% (6.0% annualized), from March 31, 2026, $127.2 million, or 1.8% (3.6% annualized), from December 31, 2025, and $240.8 million, or 3.5%, from June 30, 2025. The increases during these periods were primarily driven by growth in commercial, construction and commercial real estate 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 increased $119.2 million, or 1.8% (7.2% annualized), from March 31, 2026, primarily due to increases in commercial, consumer and brokered deposits, partially offset by a seasonal decrease in public funds deposits. Total deposits decreased $154.3 million, or 2.2% (4.4% annualized), from December 31, 2025, primarily due to decreases in consumer and public funds deposits, partially offset by increases in commercial and brokered deposits. Total deposits increased $350.3 million, or 5.3%, from June 30, 2025, primarily due to increases in commercial and brokered deposits.

Noninterest-bearing deposits totaled $1.5 billion and represented 21.1% of total deposits at June 30, 2026, compared to $1.5 billion representing 21.7% of total deposits at March 31, 2026. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.7 billion and $1.6 billion at June 30, 2026 and March 31, 2026, respectively. This represented 24.6% of total deposits at June 30, 2026, compared to 23.7% at March 31, 2026.

As of June 30, 2026, the Corporation and its subsidiaries held cash and cash equivalents totaling $195.3 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 $422.0 million at June 30, 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 $66.2 million for the second quarter of 2026 increased $6.7 million, or 11.3%, from the second quarter of 2025 and $2.9 million, or 4.5%, from the first quarter of 2026. The increase in net interest income for the second quarter of 2026 compared to the second quarter of 2025 was driven by higher average balances of loans, coupled with a reduction in our cost of funds, as lower rates paid on interest‑bearing liabilities more than offset the impact of higher average balances of these liabilities. The increase in net interest income for the second quarter of 2026 compared to the first quarter of 2026 was driven by higher average balances and yields on loans, coupled with a modest reduction in our cost of funds and a decrease in the average balance of interest-bearing liabilities, partially offset by lower average balances of interest-earning deposits with other banks.

Net interest margin, on a tax-equivalent basis, was 3.49% for the second quarter of 2026, compared to 3.33% for the first quarter of 2026 and 3.20% for the second quarter of 2025. Excess liquidity reduced net interest margin by approximately four basis points for the quarter ended June 30, 2026 compared to approximately 11 basis points for the quarter ended March 31, 2026 and approximately four basis points for the quarter ended June 30, 2025. Excluding the impact of excess liquidity, the net interest margin, on a tax-equivalent basis, would have been 3.53% for the quarter ended June 30, 2026 compared to 3.44% for the first quarter of 2026 and 3.24% for the quarter ended June 30, 2025.

Noninterest Income

Noninterest income for the quarter ended June 30, 2026 was $18.1 million, a decrease of $3.4 million, or 15.8%, from the comparable period in the prior year, primarily due to the net loss on the sale and write-down of OREO of $5.2 million for the quarter ended June 30, 2026, due to the valuation adjustment recorded during the quarter as previously mentioned.

BOLI income increased $686 thousand, or 67.8%, for the quarter ended June 30, 2026 compared to the comparable period in the prior year. The financial results for the three months ended June 30, 2026 included $708 thousand in BOLI death benefit proceeds compared to $71 thousand for the three months ended June 30, 2025.

Investment advisory commission and fee income increased $583 thousand, or 10.7%, for the quarter ended June 30, 2026 compared to the comparable period in the prior year, driven by appreciation in assets under management and new customer relationships.

Net gain on mortgage banking activities increased $365 thousand, or 37.2%, for the quarter ended June 30, 2026 compared to the comparable period in the prior year, primarily due to increased salable volume and increased margins.

Noninterest Expense

Noninterest expense for the quarter ended June 30, 2026 was $53.1 million, an increase of $2.8 million, or 5.5%, from the comparable period in the prior year.

Salaries, benefits and commissions increased $1.7 million, or 5.3%, for the quarter ended June 30, 2026 compared to the comparable period in the prior year, primarily driven by higher salary expense of $1.3 million due to annual merit increases and an increase of $375 thousand in medical claims expenses.

Marketing and advertising expense increased $490 thousand, or 98.4%, for the quarter ended June 30, 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 increased $432 thousand, or 27.1%, for the quarter ended June 30, 2026 compared to the comparable period in the prior year, primarily due to increased marketing consultant fees.

Tax Provision

The effective income tax rate was 19.6% for the quarter ended June 30, 2026, compared to an effective tax rate of 20.1% for the quarter ended June 30, 2025. The effective tax rates for the three months ended June 30, 2026 and 2025 were favorably impacted by proceeds of BOLI death benefit proceeds. Excluding the BOLI death benefit proceeds, the effective tax rate was 20.1% for the three months ended June 30, 2026 compared to 20.2% for the three months ended June 30, 2025. The effective tax rate for the quarter ended June 30, 2026, also reflected a discrete tax benefit related to equity compensation awards.

Asset Quality and Provision for Credit Losses

Nonperforming assets totaled $63.0 million at June 30, 2026, $41.2 million at March 31, 2026, and $50.6 million at June 30, 2025. During the second quarter, a commercial loan relationship totaling $28.6 million was placed on nonaccrual status with a specific reserve of $9.8 million. This increase was partially offset by the valuation adjustment recorded on OREO during the quarter.

Net loan and lease charge-offs were $1.9 million for the three months ended June 30, 2026 compared to $1.3 million and $7.8 million for the three months ended March 31, 2026 and June 30, 2025, respectively. Net loan and lease charge-offs for the three months ended June 30, 2025 included a $7.3 million charge-off associated with a nonaccrual commercial loan relationship.

The provision for credit losses was $2.7 million for the three months ended June 30, 2026 compared to $1.3 million and $5.7 million for the three months ended March 31, 2026 and June 30, 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 June 30, 2026, March 31, 2026, and June 30, 2025.

Dividend and Share Repurchases

On July 22, 2026, Univest declared a quarterly cash dividend of $0.23 per share to be paid on August 19, 2026 to shareholders of record as of August 5, 2026. During the quarter ended June 30, 2026, the Corporation repurchased 425,539 shares of common stock at an average price of $38.71 per share. Including brokerage fees and excise tax, the average cost per share was $39.13. As of June 30, 2026, 1,494,260 shares are available for repurchase under the Share Repurchase Plan.

Conference Call

Univest will host a conference call to discuss second quarter 2026 results on Thursday, July 23, 2026 at 9:00 a.m. EDT. Participants may preregister at https://registrations.events/direct/Q4I3774017. The general public can access the call by dialing 1-888-500-3691; referencing Conference ID 37740 or "Univest Financial Corporation Second Quarter 2026 Earnings Call" to the operator. A replay of the conference call will be available through July 30, 2026 using the following link: https://registrations.events/direct/Q4I3774017.

About Univest Financial Corporation

Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $8.2 billion in assets and $6.2 billion in assets under management and supervision through its Wealth Management lines of business at June 30, 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 and are subject to change based on various factors, many of which are beyond our control. 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, trade restrictions and retaliatory measures impacting our borrowers and the broader economy; (14) the impact of a potential government shutdown, debt ceiling impasses or fiscal uncertainty; (15) the failure to maintain current technologies and to successfully implement future information technology enhancements and the operational risks associated with the adoption of artificial intelligence and other emerging technologies; (16) risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors; (17) changes in the securities markets; (18) the current or anticipated impact of military conflict, terrorism or other geopolitical events; (19) the ability to attract, develop and retain qualified personnel in a competitive labor market; (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)

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
June 30, 2026
(Dollars in thousands)
Balance Sheet (Period End)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25
ASSETS
Cash and due from banks	$	79,490			$	69,645			$	63,579			$	70,843			$	76,624
Interest-earning deposits with other banks		115,835				152,712				490,133				745,896				83,741
Cash and cash equivalents		195,325				222,357				553,712				816,739				160,365
Investment securities held-to-maturity		116,207				119,490				123,024				126,040				128,455
Investment securities available for sale, net of allowance for credit losses		378,586				379,028				371,251				368,393				366,421
Investments in equity securities		2,705				2,898				2,014				2,413				1,801
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost		32,798				35,511				37,808				39,617				36,482
Loans held for sale		13,237				14,371				15,288				6,330				17,774
Loans and leases held for investment		7,041,957				6,940,212				6,914,804				6,785,482				6,801,185
Less: Allowance for credit losses, loans and leases		(89,967	)			(88,900	)			(88,165	)			(86,527	)			(86,989	)
Net loans and leases held for investment		6,951,990				6,851,312				6,826,639				6,698,955				6,714,196
Premises and equipment, net		44,373				44,774				45,554				46,245				47,140
Operating lease right-of-use assets		24,267				25,032				25,795				26,536				27,278
Goodwill		175,510				175,510				175,510				175,510				175,510
Other intangibles, net of accumulated amortization		7,850				7,583				7,328				7,537				7,967
Bank owned life insurance		142,130				142,141				140,001				139,044				140,086
Accrued interest and other assets		118,014				121,575				112,973				120,257				115,581
Total assets	$	8,202,992			$	8,141,582			$	8,436,897			$	8,573,616			$	7,939,056
LIABILITIES
Noninterest-bearing deposits	$	1,463,965			$	1,475,851			$	1,431,974			$	1,390,565			$	1,461,189
Interest-bearing deposits:		5,469,043				5,337,912				5,655,339				5,827,578				5,121,471
Total deposits		6,933,008				6,813,763				7,087,313				7,218,143				6,582,660
Short-term borrowings		18,826				26,156				24,411				11,951				6,271
Long-term debt		125,000				175,000				200,000				200,000				200,000
Subordinated notes		98,994				98,908				98,867				129,597				149,511
Operating lease liabilities		26,863				27,699				28,531				29,310				30,106
Accrued expenses and other liabilities		46,048				48,106				54,457				51,396				53,775
Total liabilities		7,248,739				7,189,632				7,493,579				7,640,397				7,022,323
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		302,549				301,154				304,021				302,696				301,640
Retained earnings		628,327				611,771				591,202				574,715				555,403
Accumulated other comprehensive loss, net of tax benefit		(26,728	)			(25,951	)			(25,467	)			(31,636	)			(34,969	)
Treasury stock, at cost		(107,679	)			(92,808	)			(84,222	)			(70,340	)			(63,125	)
Total shareholders’ equity		954,253				951,950				943,318				933,219				916,733
Total liabilities and shareholders’ equity	$	8,202,992			$	8,141,582			$	8,436,897			$	8,573,616			$	7,939,056
	For the three months ended,																				For the six months ended,
Balance Sheet (Average)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25				06/30/26				06/30/25
Assets	$	8,132,913			$	8,250,766			$	8,528,465			$	8,191,010			$	7,979,475			$	8,191,514			$	7,980,254
Investment securities, net of allowance for credit losses		502,065				499,078				497,201				492,197				497,214				500,579				498,638
Loans and leases, gross		7,008,079				6,939,600				6,848,654				6,790,827				6,846,938				6,974,029				6,851,694
Deposits		6,843,709				6,891,928				7,165,437				6,836,043				6,633,250				6,867,685				6,625,494
Shareholders' equity		951,863				949,509				936,417				923,454				908,536				950,693				902,706

Univest Financial Corporation
Consolidated Summary of Loans by Type and Asset Quality Data (Unaudited)
June 30, 2026
(Dollars in thousands)
Summary of Major Loan and Lease Categories (Period End)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25
Commercial, financial and agricultural	$	1,081,624			$	1,038,947			$	1,027,434			$	996,612			$	1,052,246
Real estate-commercial		3,684,721				3,656,779				3,621,536				3,517,803				3,485,615
Real estate-construction		329,558				299,962				306,793				309,365				302,424
Real estate-residential secured for business purpose		576,326				556,040				554,178				545,191				535,210
Real estate-residential secured for personal purpose		911,116				942,054				959,610				974,395				984,166
Real estate-home equity secured for personal purpose		205,502				201,244				200,394				197,503				195,014
Loans to individuals		12,342				12,319				12,793				13,447				14,069
Lease financings		240,768				232,867				232,066				231,166				232,441
Total loans and leases held for investment, net of deferred income		7,041,957				6,940,212				6,914,804				6,785,482				6,801,185
Less: Allowance for credit losses, loans and leases		(89,967	)			(88,900	)			(88,165	)			(86,527	)			(86,989	)
Net loans and leases held for investment	$	6,951,990			$	6,851,312			$	6,826,639			$	6,698,955			$	6,714,196
Asset Quality Data (Period End)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25
Nonaccrual loans and leases	$	43,897			$	13,289			$	13,743			$	27,330			$	27,909
Accruing loans and leases 90 days or more past due		160				3,750				89				829				125
Total nonperforming loans and leases		44,057				17,039				13,832				28,159				28,034
Other real estate owned		18,914				24,073				23,926				23,926				22,471
Repossessed assets		10				124				65				40				80
Total nonperforming assets	$	62,981			$	41,236			$	37,823			$	52,125			$	50,585
Nonaccrual loans and leases / Loans and leases held for investment		0.62	%			0.19	%			0.20	%			0.40	%			0.41	%
Nonperforming loans and leases / Loans and leases held for investment		0.63	%			0.25	%			0.20	%			0.41	%			0.41	%
Nonperforming assets / Total assets		0.77	%			0.51	%			0.45	%			0.61	%			0.64	%
Allowance for credit losses, loans and leases	$	89,967			$	88,900			$	88,165			$	86,527			$	86,989
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		204.95	%			668.97	%			641.53	%			316.60	%			311.69	%
Allowance for credit losses, loans and leases / Nonperforming loans and leases		204.21	%			521.74	%			637.40	%			307.28	%			310.30	%
	For the three months ended,																				For the six months ended,
	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25				06/30/26				06/30/25
Net loan and lease charge-offs	$	1,932			$	1,263			$	1,145			$	480			$	7,807			$	3,195			$	9,493
Net loan and lease charge-offs (annualized)/Average loans and leases		0.11	%			0.07	%			0.07	%			0.03	%			0.46	%			0.09	%			0.28	%

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
June 30, 2026
(Dollars in thousands, except per share data)
	For the three months ended,																				For the six months ended,
For the period:	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25				06/30/26				06/30/25
Interest income	$	108,129			$	106,351			$	111,716			$	109,648			$	105,706			$	214,480			$	209,122
Interest expense		41,881				42,986				49,167				48,324				46,165				84,867				92,800
Net interest income		66,248				63,365				62,549				61,324				59,541				129,613				116,322
Provision for credit losses		2,672				1,303				3,145				517				5,694				3,975				8,005
Net interest income after provision for credit losses		63,576				62,062				59,404				60,807				53,847				125,638				108,317
Noninterest income:
Trust fee income		2,283				2,236				2,316				2,230				2,146				4,519				4,307
Service charges on deposit accounts		2,363				2,279				2,237				2,302				2,258				4,642				4,452
Investment advisory commission and fee income		6,043				6,154				6,055				5,671				5,460				12,197				11,073
Insurance commission and fee income		5,351				7,423				4,825				5,468				5,261				12,774				12,150
Other service fee income		3,319				3,041				2,668				2,416				3,147				6,360				5,854
Bank owned life insurance income		1,698				1,332				970				1,908				1,012				3,030				2,971
Net gain on investment securities transactions		11				-				-				-				-				11				-
Net gain on mortgage banking activities		1,346				791				886				848				981				2,137				1,628
Net (loss) gain on sales and write-downs of other real estate owned		(5,249	)			-				-				-				-				(5,249	)			4
Other income		941				832				2,065				1,080				1,236				1,773				1,477
Total noninterest income		18,106				24,088				22,022				21,923				21,501				42,194				43,916
Noninterest expense:
Salaries, benefits and commissions		33,208				33,459				33,009				31,652				31,536				66,667				62,362
Net occupancy		2,938				2,998				2,882				2,675				2,739				5,936				5,592
Equipment		1,122				1,079				1,052				1,076				1,043				2,201				2,165
Data processing		4,627				4,480				4,390				4,263				4,408				9,107				8,772
Professional fees		2,029				1,677				1,947				1,876				1,597				3,706				3,394
Marketing and advertising		988				634				479				323				498				1,622				851
Deposit insurance premiums		1,118				1,170				1,106				1,195				1,074				2,288				2,225
Intangible expenses		92				93				102				106				131				185				261
Restructuring charges		-				427				-				-				-				427				-
Other expense		7,002				6,652				7,743				7,503				7,306				13,654				14,038
Total noninterest expense		53,124				52,669				52,710				50,669				50,332				105,793				99,660
Income before taxes		28,558				33,481				28,716				32,061				25,016				62,039				52,573
Income tax expense		5,605				6,389				5,971				6,422				5,038				11,994				10,200
Net income	$	22,953			$	27,092			$	22,745			$	25,639			$	19,978			$	50,045			$	42,373
Net income per share:
Basic	$	0.83			$	0.97			$	0.80			$	0.89			$	0.69			$	1.79			$	1.46
Diluted	$	0.82			$	0.96			$	0.79			$	0.89			$	0.69			$	1.78			$	1.45
Dividends declared per share	$	0.23			$	0.22			$	0.22			$	0.22			$	0.22			$	0.45			$	0.43
Weighted average shares outstanding		27,741,836				28,032,897				28,376,191				28,716,582				28,859,348				27,886,563				28,929,123
Period end shares outstanding		27,585,768				27,949,173				28,156,917				28,576,346				28,810,805				27,585,768				28,810,805

Univest Financial Corporation
Consolidated Selected Financial Data (Unaudited)
June 30, 2026
	For the three months ended,																				For the six months ended,
Profitability Ratios (annualized)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25				06/30/26				06/30/25
Return on average assets		1.13	%			1.33	%			1.06	%			1.24	%			1.00	%			1.23	%			1.07	%
Return on average assets, excluding restructuring charges (1)		1.13	%			1.35	%			1.06	%			1.24	%			1.00	%			1.24	%			1.07	%
Return on average shareholders' equity		9.67	%			11.57	%			9.64	%			11.02	%			8.82	%			10.62	%			9.47	%
Return on average shareholders' equity, excluding restructuring charges (1)		9.67	%			11.72	%			9.64	%			11.02	%			8.82	%			10.69	%			9.47	%
Return on average tangible common equity (1)(3)		11.93	%			14.27	%			11.93	%			13.68	%			11.02	%			13.09	%			11.84	%
Return on average tangible common equity, excluding restructuring charges (1)(3)		11.93	%			14.45	%			11.93	%			13.68	%			11.02	%			13.18	%			11.84	%
Net interest margin (FTE)		3.49	%			3.33	%			3.10	%			3.17	%			3.20	%			3.41	%			3.14	%
Efficiency ratio (2)		62.3	%			59.7	%			61.8	%			60.2	%			61.6	%			60.9	%			61.6	%
Capitalization Ratios
Dividends declared to net income		27.9	%			22.8	%			27.5	%			24.7	%			31.8	%			25.1	%			29.4	%
Shareholders' equity to assets (Period End)		11.63	%			11.69	%			11.18	%			10.88	%			11.55	%			11.63	%			11.55	%
Tangible common equity to tangible assets (1)		9.68	%			9.72	%			9.27	%			9.00	%			9.52	%			9.68	%			9.52	%
Common equity book value per share	$	34.59			$	34.06			$	33.50			$	32.66			$	31.82			$	34.59			$	31.82
Tangible common equity book value per share (1)	$	28.16			$	27.71			$	27.20			$	26.45			$	25.66			$	28.16			$	25.66
Regulatory Capital Ratios (Period End)
Tier 1 leverage ratio		10.13	%			9.95	%			9.51	%			9.85	%			9.94	%			10.13	%			9.94	%
Common equity tier 1 risk-based capital ratio		11.19	%			11.32	%			11.22	%			11.40	%			11.19	%			11.19	%			11.19	%
Tier 1 risk-based capital ratio		11.19	%			11.32	%			11.22	%			11.40	%			11.19	%			11.19	%			11.19	%
Total risk-based capital ratio		13.81	%			13.95	%			13.86	%			14.28	%			14.58	%			13.81	%			14.58	%
(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	June 30, 2026							March 31, 2026
	Average			Income/		Average		Average			Income/		Average
(Dollars in thousands)	Balance			Expense		Rate		Balance			Expense		Rate
Assets:
Interest-earning deposits with other banks	$	120,511		$	1,118	3.72	%	$	306,797		$	2,810	3.71	%
Other debt and equity securities		502,065			4,203	3.36			499,078			4,053	3.29
Federal Home Loan Bank, Federal Reserve Bank and other stock		33,537			625	7.47			37,286			704	7.66
Total interest-earning deposits, investments and other interest-earning assets		656,113			5,946	3.63			843,161			7,567	3.64
Commercial, financial, and agricultural loans		989,950			16,293	6.60			959,673			15,331	6.48
Real estate—commercial and construction loans		3,892,900			57,589	5.93			3,861,156			55,796	5.86
Real estate—residential loans		1,711,210			22,002	5.16			1,710,239			21,526	5.10
Loans to individuals		12,511			270	8.66			12,396			273	8.93
Tax-exempt loans and leases		224,883			3,235	5.77			223,166			3,116	5.66
Lease financings		176,625			3,294	7.48			172,970			3,212	7.53
Gross loans and leases		7,008,079			102,683	5.88			6,939,600			99,254	5.80
Total interest-earning assets		7,664,192			108,629	5.69			7,782,761			106,821	5.57
Cash and due from banks		58,713							57,980
Allowance for credit losses, loans and leases		(89,488	)						(88,832	)
Premises and equipment, net		44,926							45,359
Operating lease right-of-use assets		24,640							25,414
Other assets		429,930							428,084
Total assets	$	8,132,913						$	8,250,766
Liabilities:
Interest-bearing checking deposits	$	1,255,397		$	7,603	2.43	%	$	1,280,570		$	7,722	2.45	%
Money market savings		1,998,397			16,604	3.33			2,045,306			16,918	3.35
Regular savings		748,657			1,203	0.64			765,296			1,372	0.73
Time deposits		1,411,889			13,357	3.79			1,389,144			13,130	3.83
Total time and interest-bearing deposits		5,414,340			38,767	2.87			5,480,316			39,142	2.90
Short-term borrowings		33,437			30	0.36			25,578			3	0.05
Long-term debt		131,868			1,337	4.07			201,389			2,093	4.21
Subordinated notes		98,944			1,747	7.08			98,897			1,748	7.17
Total borrowings		264,249			3,114	4.73			325,864			3,844	4.78
Total interest-bearing liabilities		5,678,589			41,881	2.96			5,806,180			42,986	3.00
Noninterest-bearing deposits		1,429,369							1,411,612
Operating lease liabilities		27,271							28,116
Accrued expenses and other liabilities		45,821							55,349
Total liabilities		7,181,050							7,301,257
Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")		7,107,958				2.36			7,217,792				2.42
Shareholders' Equity:
Common stock		157,784							157,784
Additional paid-in capital		301,620							303,413
Retained earnings and other equity		492,459							488,312
Total shareholders' equity		951,863							949,509
Total liabilities and shareholders' equity	$	8,132,913						$	8,250,766
Net interest income				$	66,748						$	63,835
Net interest spread						2.73							2.57
Effect of net interest-free funding sources						0.76							0.76
Net interest margin						3.49	%						3.33	%
Ratio of average interest-earning assets to average interest-bearing liabilities		134.97	%						134.04	%
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 $801 thousand and $793 thousand for the three months ended June 30, 2026 and March 31, 2026, 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 June 30, 2026 and March 31, 2026 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 June 30,
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	$	120,511		$	1,118	3.72	%	$	131,391		$	1,371	4.19	%
Other debt and equity securities		502,065			4,203	3.36			497,214			3,962	3.20
Federal Home Loan Bank, Federal Reserve Bank and other stock		33,537			625	7.47			36,711			671	7.33
Total interest-earning deposits, investments and other interest-earning assets		656,113			5,946	3.63			665,316			6,004	3.62
Commercial, financial, and agricultural loans		989,950			16,293	6.60			1,005,784			17,686	7.05
Real estate—commercial and construction loans		3,892,900			57,589	5.93			3,692,262			54,165	5.88
Real estate—residential loans		1,711,210			22,002	5.16			1,727,381			21,772	5.06
Loans to individuals		12,511			270	8.66			15,575			337	8.68
Tax-exempt loans and leases		224,883			3,235	5.77			228,856			2,966	5.20
Lease financings		176,625			3,294	7.48			177,080			3,192	7.23
Gross loans and leases		7,008,079			102,683	5.88			6,846,938			100,118	5.86
Total interest-earning assets		7,664,192			108,629	5.69			7,512,254			106,122	5.67
Cash and due from banks		58,713							55,335
Allowance for credit losses, loans and leases		(89,488	)						(88,127	)
Premises and equipment, net		44,926							47,299
Operating lease right-of-use assets		24,640							26,948
Other assets		429,930							425,766
Total assets	$	8,132,913						$	7,979,475
Liabilities:
Interest-bearing checking deposits	$	1,255,397		$	7,603	2.43	%	$	1,216,909		$	7,800	2.57	%
Money market savings		1,998,397			16,604	3.33			1,754,428			16,945	3.87
Regular savings		748,657			1,203	0.64			700,762			749	0.43
Time deposits		1,411,889			13,357	3.79			1,541,008			16,261	4.23
Total time and interest-bearing deposits		5,414,340			38,767	2.87			5,213,107			41,755	3.21
Short-term borrowings		33,437			30	0.36			5,254			1	0.08
Long-term debt		131,868			1,337	4.07			200,549			2,128	4.26
Subordinated notes		98,944			1,747	7.08			149,444			2,281	6.12
Total borrowings		264,249			3,114	4.73			355,247			4,410	4.98
Total interest-bearing liabilities		5,678,589			41,881	2.96			5,568,354			46,165	3.33
Noninterest-bearing deposits		1,429,369							1,420,143
Operating lease liabilities		27,271							29,802
Accrued expenses and other liabilities		45,821							52,640
Total liabilities		7,181,050							7,070,939
Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")		7,107,958				2.36			6,988,497				2.65
Shareholders' Equity:
Common stock		157,784							157,784
Additional paid-in capital		301,620							301,016
Retained earnings and other equity		492,459							449,736
Total shareholders' equity		951,863							908,536
Total liabilities and shareholders' equity	$	8,132,913						$	7,979,475
Net interest income				$	66,748						$	59,957
Net interest spread						2.73							2.34
Effect of net interest-free funding sources						0.76							0.86
Net interest margin						3.49	%						3.20	%
Ratio of average interest-earning assets to average interest-bearing liabilities		134.97	%						134.91	%
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 $801 thousand and $689 thousand for the three months ended June 30, 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 June 30, 2026 and 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 Six Months Ended June 30,
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	$	213,140		$	3,928	3.72	%	$	125,725		$	2,731	4.38	%
Obligations of state and political subdivisions*		-			-	-			437			4	1.85
Other debt and equity securities		500,579			8,256	3.33			498,201			7,981	3.23
Federal Home Loan Bank, Federal Reserve Bank and other stock		35,401			1,329	7.57			37,134			1,358	7.37
Total interest-earning deposits, investments and other interest-earning assets		749,120			13,513	3.64			661,497			12,074	3.68
Commercial, financial, and agricultural loans		974,895			31,624	6.54			998,363			34,706	7.01
Real estate—commercial and construction loans		3,877,116			113,385	5.90			3,698,214			106,841	5.83
Real estate—residential loans		1,710,727			43,528	5.13			1,728,259			43,314	5.05
Loans to individuals		12,454			543	8.79			17,495			730	8.41
Tax-exempt loans and leases		224,030			6,351	5.72			229,491			5,827	5.12
Lease financings		174,807			6,506	7.51			179,872			6,432	7.21
Gross loans and leases		6,974,029			201,937	5.84			6,851,694			197,850	5.82
Total interest-earning assets		7,723,149			215,450	5.63			7,513,191			209,924	5.63
Cash and due from banks		58,349							56,009
Allowance for credit losses, loans and leases		(89,162	)						(87,975	)
Premises and equipment, net		45,141							47,076
Operating lease right-of-use assets		25,025							27,352
Other assets		429,012							424,601
Total assets	$	8,191,514						$	7,980,254
Liabilities:
Interest-bearing checking deposits	$	1,267,914		$	15,325	2.44	%	$	1,219,446		$	14,875	2.46	%
Money market savings		2,021,722			33,522	3.34			1,797,074			34,980	3.93
Regular savings		756,930			2,575	0.69			701,648			1,512	0.43
Time deposits		1,400,579			26,487	3.81			1,508,930			32,367	4.33
Total time and interest-bearing deposits		5,447,145			77,909	2.88			5,227,098			83,734	3.23
Short-term borrowings		29,530			33	0.23			6,076			15	0.50
Long-term debt		166,436			3,430	4.16			208,978			4,489	4.33
Subordinated notes		98,921			3,495	7.12			149,382			4,562	6.16
Total borrowings		294,887			6,958	4.76			364,436			9,066	5.02
Total interest-bearing liabilities		5,742,032			84,867	2.98			5,591,534			92,800	3.35
Noninterest-bearing deposits		1,420,540							1,398,396
Operating lease liabilities		27,691							30,236
Accrued expenses and other liabilities		50,558							57,382
Total liabilities		7,240,821							7,077,548
Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds")		7,162,572				2.39			6,989,930				2.68
Shareholders' Equity:
Common stock		157,784							157,784
Additional paid-in capital		302,512							301,830
Retained earnings and other equity		490,397							443,092
Total shareholders' equity		950,693							902,706
Total liabilities and shareholders' equity	$	8,191,514						$	7,980,254
Net interest income				$	130,583						$	117,124
Net interest spread						2.65							2.28
Effect of net interest-free funding sources						0.76							0.86
Net interest margin						3.41	%						3.14	%
Ratio of average interest-earning assets to average interest-bearing liabilities		134.50	%						134.37	%
* 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 $1.6 million and $1.2 million for the six months ended June 30, 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 six months ended June 30, 2026 and 2025 have been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation
Loan Portfolio Overview (Unaudited)
June 30, 2026
(Dollars in thousands)
Industry Description	Total Outstanding Balance			% of Commercial Loan Portfolio
Animal Production		440,916		7.8	%
CRE - Retail		426,394		7.5
CRE - Multi-family		393,126		6.9
CRE - 1-4 Family Residential Investment		279,515		4.9
Hotels & Motels (Accommodation)		268,482		4.7
CRE - Office		252,607		4.5
Specialty Trade Contractors		243,448		4.3
CRE - Industrial / Warehouse		215,638		3.8
Nursing and Residential Care Facilities		176,891		3.1
Homebuilding (tract developers, remodelers)		163,688		2.9
Crop Production		145,110		2.6
Merchant Wholesalers, Durable Goods		138,817		2.5
CRE - Mixed-Use - Commercial		121,993		2.2
Repair and Maintenance		121,737		2.1
Motor Vehicle and Parts Dealers		120,416		2.1
CRE - Mixed-Use - Residential		110,034		1.9
Wood Product Manufacturing		101,076		1.8
Nondepository Credit Intermediation and Related Activities (except 5221)		99,227		1.7
Administrative and Support Services		97,708		1.7
Food Services and Drinking Places		97,346		1.7
Education		91,845		1.6
Merchant Wholesalers, Nondurable Goods		88,338		1.6
Professional, Scientific, and Technical Services		85,432		1.5
Amusement, Gambling, and Recreation Industries		78,808		1.4
Fabricated Metal Product Manufacturing		75,975		1.3
Food Manufacturing		68,126		1.2
Personal and Laundry Services		67,103		1.2
Private Equity & Special Purpose Entities (except 52592)		65,968		1.2
Religious Organizations, Advocacy Groups		63,624		1.1
Machinery Manufacturing		62,643		1.1
Miniwarehouse / Self-Storage		56,126		1.0
Nonresidential Building Contractors		54,376		1.0
Industries with >$50 million in outstandings	$	4,872,533		85.9	%
Industries with <$50 million in outstandings	$	799,696		14.1	%
Total Commercial Loans	$	5,672,229		100.0	%
Consumer Loans and Lease Financings	Total Outstanding Balance
Real Estate-Residential Secured for Personal Purpose		911,116
Real Estate-Home Equity Secured for Personal Purpose		205,502
Loans to Individuals		12,342
Lease Financings		240,768
Total - Consumer Loans and Lease Financings	$	1,369,728
Total	$	7,041,957

Univest Financial Corporation
Non-GAAP Reconciliation
June 30, 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,																				As of or for the six months ended,
(Dollars in thousands)	06/30/26				03/31/26				12/31/25				09/30/25				06/30/25				06/30/26				06/30/25
Restructuring charges (a)	$	-			$	427			$	-			$	-			$	-			$	427			$	-
Tax effect of restructuring charges		-				(90	)			-				-				-				(90	)			-
Restructuring charges, net of tax	$	-			$	337			$	-			$	-			$	-			$	337			$	-
Net income	$	22,953			$	27,092			$	22,745			$	25,639			$	19,978			$	50,045			$	42,373
Amortization of intangibles, net of tax		73				73				81				84				103				146				206
Net income before amortization of intangibles	$	23,026			$	27,165			$	22,826			$	25,723			$	20,081			$	50,191			$	42,579
Shareholders' equity	$	954,253			$	951,950			$	943,318			$	933,219			$	916,733			$	954,253			$	916,733
Goodwill		(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Other intangibles (b)		(1,923	)			(1,960	)			(1,919	)			(1,966	)			(2,040	)			(1,923	)			(2,040	)
Tangible common equity	$	776,820			$	774,480			$	765,889			$	755,743			$	739,183			$	776,820			$	739,183
Total assets	$	8,202,992			$	8,141,582			$	8,436,897			$	8,573,616			$	7,939,056			$	8,202,992			$	7,939,056
Goodwill		(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Other intangibles (b)		(1,923	)			(1,960	)			(1,919	)			(1,966	)			(2,040	)			(1,923	)			(2,040	)
Tangible assets	$	8,025,559			$	7,964,112			$	8,259,468			$	8,396,140			$	7,761,506			$	8,025,559			$	7,761,506
Average shareholders' equity	$	951,863			$	949,509			$	936,417			$	923,454			$	908,536			$	950,693			$	902,706
Average goodwill		(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)			(175,510	)
Average other intangibles (b)		(1,938	)			(1,922	)			(1,935	)			(1,983	)			(2,068	)			(1,929	)			(2,114	)
Average tangible common equity	$	774,415			$	772,077			$	758,972			$	745,961			$	730,958			$	773,254			$	725,082
(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

CONTACT: Brian J. Richardson
UNIVEST FINANCIAL CORPORATION
Chief Financial Officer
215-721-2446, richardsonb@univest.net