Univest Financial Corporation Reports Third Quarter Results
Key Highlights
- ➤Q3 net income $21.6 million, or $0.78 diluted EPS, down from $25.6 million
- ➤Provision for credit losses rose to $9.0 million from $517 thousand
- ➤Net loan and lease charge-offs increased to $17.6 million from $480 thousand
- ➤Net interest income increased 10.5% year over year to $67.8 million
- ➤Univest declared a $0.23 quarterly cash dividend and repurchased 301,127 shares
SOUDERTON, Pa., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Univest Financial Corporation (“Univest” or the "Corporation") (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. (the "Bank") and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended September 30, 2026 of $21.6 million, or $0.78 diluted earnings per share, compared to net income of $25.6 million, or $0.89 diluted earnings per share, for the quarter ended September 30, 2025, primarily due to an increase in provision for credit losses during the quarter associated with elevated charge-offs.
Loans Gross loans and leases decreased $27.5 million, or 0.4% (1.6% annualized), from June 30, 2026. The decrease was primarily driven by a $35.3 million payoff of a shared national credit relationship and a $14.4 million charge-off associated with a $28.3 million commercial loan relationship. Gross loans and leases increased $99.6 million, or 1.4% (1.9% annualized), from December 31, 2025, and $229.0 million, or 3.4%, from September 30, 2025, primarily driven by growth in construction and commercial real estate loans. The growth from December 31, 2025 and September 30, 2025 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 is intended to improve our loan-to-deposit ratio.
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