UVSP

This article first appeared on GuruFocus. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Univest Financial Corp (NASDAQ:UVSP) reported a solid second quarter with a net income of $23 million, marking an 18.8% increase in earnings per share compared to Q2 2025. Loan growth was strong, with an increase of $101.7 million or 6% annualized. Total deposits grew by $119.2 million, or 7.2% annualized, reflecting successful execution of their initiative to lower the loan-to-deposit ratio. The company actively engaged in stock buybacks, repurchasing 425,539 shares during the quarter, with a year-to-date total of 776,677 shares. Net interest margin expanded by 16 basis points to 3.49%, with core NIM increasing by 9 basis points to 3.53%, driven by growth in average loan balances and improved asset yields. A $5.2 million valuation adjustment on an REO property negatively impacted earnings per share by $0.15. A commercial loan relationship totaling $28.6 million was placed on non-accrual status, requiring a specific reserve of $9.8 million. Non-interest income decreased by $3.4 million compared to Q2 2025, primarily due to the REO valuation adjustment. Increased competition in loan pricing is putting pressure on margins, particularly in long-term CRE, prompting a shift towards construction-oriented financing. The company faces challenges in selling an REO property in the Princeton market, which has been on sale for about a year without a buyer. Warning! GuruFocus has detected 8 Warning Signs with UVSP. Is UVSP fairly valued? Test your thesis with our free DCF calculator. Q: On the outlook for loan growth, could you discuss the competition you're seeing in your various markets, and if it's intensifying in any specific market or loan category? A: Yes, we are seeing increased competition on pricing across all markets. Despite this, we believe there's still room to achieve adequate margins and meet our loan growth targets. We've pivoted from long-term CRE to more construction-oriented financing to maintain wider margins and fee income. - Mike Time, COO and President of Univest Bank and Trust. Q: Can you discuss the NIM trajectory going forward, especially with potential rate hikes? A: From a rate change perspective, we model out fairly neutral. I expect NIM to hold in the current range of around 3.50%, give or take a few basis points, assuming no drastic changes. - Brian Richardson, CFO. Q: Can you provide more details on the OREO property, including its market and loan category? A: The OREO property is a lab space office building in the Princeton market, approximately 165,000 square feet. It required significant repairs, completed last year, and has been marketed since the second quarter of last year. Recent market comps led to a decrease in its appraised value. - Brian Richardson, CFO. Q: What is your perspective on M&A activity in the market? A: We are open to M&A conversations on both the bank and insurance sides. While activity slowed down, conversations are still occurring. However, there must be something for sale and an agreement on future terms for any deal to proceed. - Jeff Schweitzer, Chairman, President, and CEO. Q: What do your deposit pipelines look like, and what are your plans for talent acquisition? A: Our deposit pipelines are strong, with initiatives like union deposits and public funds building in the third quarter. On the talent side, we actively hire when opportunities arise, adding new RMs recently. We continue to seek quality talent to join our organization. - Mike Time, COO and President of Univest Bank and Trust. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Univest Corporation of Pennsylvania? Here are five stocks we like better. Univest posted solid Q2 2026 operating results with net income of $23 million, or $0.82 per share, and EPS up 18.8% year over year. Management said the quarter was weighed down by a $5.2 million OREO valuation adjustment, but core performance remained strong. Net interest income and margin improved as higher loan balances, better asset yields and lower funding costs drove gains. Net interest income rose 11.3% from a year ago, and management expects full-year net interest income growth of 8% to 10%. Credit quality and capital management were key focus areas after a $28.6 million loan went non-accrual and charge-offs rose, while the company also booked a specific reserve and the OREO write-down. Univest continued share repurchases and said it remains open to M&A while balancing capital against growth opportunities. Univest Corporation of Pennsylvania (NASDAQ:UVSP) reported second-quarter 2026 net income of $23 million, or $0.82 per share, during its earnings call, with Chairman, President and CEO Jeff Schweitzer saying earnings per share rose 18.8% from the second quarter of 2025. Schweitzer said the quarter was affected by a $5.2 million valuation adjustment on an OREO property following an updated appraisal, which reduced earnings by $0.15 per share. Excluding that item, he described the company’s core operating results as strong. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? “We had a solid second quarter,” Schweitzer said, citing loan growth of $101.7 million, or 6% annualized, and deposit growth of $119.2 million, or 7.2% annualized. He also said the company continued efforts to reduce its loan-to-deposit ratio, which was 180 basis points lower on average year to date than through the first six months of 2025. Chief Financial Officer Brian Richardson said net interest income increased $2.9 million, or 4.5%, from the first quarter and rose $6.7 million, or 11.3%, from the year-earlier quarter. He attributed the increase to growth in average loan balances, improved asset yields and a lower overall cost of funds. → 3 Photonics Companies Making Quantum Tech Possible Reported net interest margin expanded 16 basis points from the first quarter to 3.49%, while core net interest margin, excluding excess liquidity, increased nine basis points to 3.53%. Richardson said management now expects full-year net interest income growth of 8% to 10%, reflecting first-half performance and continued margin stability. In response to an analyst question, he said Univest models its balance sheet as “fairly neutral” to rate changes, whether up or down, and expects core NIM to remain around the 3.50% range over the next several quarters, plus or minus about five basis points, assuming no major changes. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Credit quality was a major focus of the call. Richardson said the company recorded the $5.2 million pre-tax valuation adjustment on a real estate owned property, reducing after-tax earnings by $4.1 million, or $0.15 per diluted share. He said the property is a roughly 165,000-square-foot lab and office building in the Princeton market. Significant repairs were completed from the first quarter into the second quarter of last year, after which the property was marketed. Richardson said an updated appraisal reflected pressure from market comparisons for both sales and rental rates. The quarter also included a commercial loan relationship totaling $28.6 million being placed on non-accrual status, along with a $9.8 million specific reserve. Net charge-offs were $1.9 million, or 11 basis points annualized, while the allowance for credit losses coverage ratio remained stable at 1.28% of total loans held for investment. Mike Keim, chief operating officer and president of Univest Bank and Trust, said the non-accrual credit is a C&I loan tied to an operating business that manufactures and distributes discretionary items. He said the business is seasonal, with its strongest period late in the third quarter into the fourth quarter. Keim said the company is reviewing updated financials and assessing whether a sale of the company or parts of the company could be the best resolution. Non-interest income totaled $18.1 million, down $3.4 million from the second quarter of 2025, primarily due to the OREO valuation adjustment. Richardson said underlying fee income trends remained solid when excluding that item. Investment advisory commission and fee income increased $583,000, or 10.7%, from the prior year, driven by asset appreciation and new customer relationships. Net gains on mortgage banking activities rose $365,000, or 37.2%, due to higher saleable volume and improved margins. The company recognized $708,000 of tax-free bank-owned life insurance death benefit proceeds during the quarter. Richardson said Univest maintained its full-year outlook for loan growth of approximately 2% to 3%, non-interest income growth of approximately 6% to 8% excluding BOLI death benefits and REO valuation adjustments, non-interest expense growth of 3% to 5%, and provisioning of $11 million to $13 million. He cautioned that provisioning remains event-driven and could be affected by the resolution of the $28.6 million non-accrual loan, other charge-offs, loan growth and economic conditions. The effective tax rate is expected to remain in the 20% to 21% range. Asked about loan growth and market competition, Keim said Univest is seeing increased pricing competition “across the board” in its markets, with narrowing spreads as lenders compete for asset growth. He said the company has shifted more toward construction-oriented financing and away from longer-term commercial real estate because management believes the product offers wider margins and fee income opportunities. On deposits, Keim said pipelines remain strong, supported by CD offerings, a union deposit initiative, seasonal public funds growth in the third quarter and efforts involving title companies and law firms. Richardson said there is limited opportunity to reduce deposit costs further in a stable rate environment, with just over $300 million of CDs maturing in the third quarter and current offering rates at or slightly above those levels. Schweitzer said Univest repurchased 425,539 shares during the quarter and 776,677 shares year to date. He said the company expects to remain active with buybacks while balancing capital use against potential M&A opportunities and balance sheet growth. Richardson added that management is not looking to materially grow capital ratios from where they began the year. Schweitzer also said Univest remains open to M&A conversations in banking, wealth and insurance, though he noted that any transaction depends on whether a business is actually for sale and whether the parties can agree on terms. “We’ve had a strong start to the year through the first six months,” Schweitzer said in closing, adding that the company plans to continue executing its strategic plans over the remainder of 2026. Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions. Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Univest Corporation of Pennsylvania Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

(18.8% increase in earnings per share compared to 2025 second quarter) 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 ItemsThe 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. LoansGross 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 LiquidityTotal 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 MarginNet 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 IncomeNoninterest 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 ExpenseNoninterest 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 LossesNonperforming 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 RepurchasesOn 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 CallUnivest 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 CorporationUnivest 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) CONTACT: CONTACT: Brian J. Richardson UNIVEST FINANCIAL CORPORATION Chief Financial Officer 215-721-2446, [email protected]

Univest (UVSP) came out with quarterly earnings of $0.82 per share, missing the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.65%. A quarter ago, it was expected that this holding company for Univest Bank and Trust Co. would post earnings of $0.84 per share when it actually produced earnings of $0.96, delivering a surprise of +14.29%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Univest, which belongs to the Zacks Banks - Northeast industry, posted revenues of $84.35 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.81%. This compares to year-ago revenues of $81.04 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Univest shares have added about 35.7% since the beginning of the year versus the S&P 500's gain of 9.7%. While Univest has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Univest was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.92 on $89.4 million in revenues for the coming quarter and $3.60 on $351.89 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Eastern Bankshares, Inc. (EBC), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 23. This company is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of +12.2%. The consensus EPS estimate for the quarter has been revised 0.3% lower over the last 30 days to the current level. Eastern Bankshares, Inc.'s revenues are expected to be $304.32 million, up 24.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Univest Corporation of Pennsylvania (UVSP) : Free Stock Analysis Report Eastern Bankshares, Inc. (EBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Bank First Corporation (BFC) came out with quarterly earnings of $2.45 per share, beating the Zacks Consensus Estimate of $2.28 per share. This compares to earnings of $1.71 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.46%. A quarter ago, it was expected that this company would post earnings of $2.4 per share when it actually produced earnings of $2.24, delivering a surprise of -6.67%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Bank First Corporation, which belongs to the Zacks Banks - Northeast industry, posted revenues of $65.04 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.35%. This compares to year-ago revenues of $41.62 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Bank First Corporation shares have added about 19.7% since the beginning of the year versus the S&P 500's gain of 8.7%. While Bank First Corporation has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Bank First Corporation was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.43 on $64.37 million in revenues for the coming quarter and $9.69 on $256.11 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Univest (UVSP), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 22. This holding company for Univest Bank and Trust Co. is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of +24.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Univest's revenues are expected to be $86.79 million, up 7.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank First National Corporation (BFC) : Free Stock Analysis Report Univest Corporation of Pennsylvania (UVSP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Strong Q1 results: Univest reported net income of $27.1 million (EPS $0.96), a 24.7% YoY EPS increase, with return on average assets of 1.33% and improved efficiency alongside a lower loan‑to‑deposit ratio. Capital returns prioritized: The board raised the quarterly dividend 4.5% to $0.23 and repurchased 351,138 shares, with management signaling continued buybacks while monitoring CET1 (~11.3%) and remaining open to opportunistic M&A. Margin and outlook uplift: Reported NIM rose 23 bps to 3.33% (core 3.44%), prompting an updated net interest income growth outlook of 5–7% for 2026 and a maintained loan growth target of ~2–3%, while credit metrics stayed strong (NPLs ~0.25%, ACL 1.28%). Interested in Univest Corporation of Pennsylvania? Here are five stocks we like better. Univest Corporation of Pennsylvania (NASDAQ:UVSP) opened 2026 with what executives described as a strong first quarter, driven by higher earnings, margin expansion and continued progress on efficiency and balance sheet priorities. Chairman, President and CEO Jeff Schweitzer said the company reported first-quarter net income of $27.1 million, or $0.96 per share, representing a 24.7% increase in earnings per share compared to the first quarter of 2025. He added that return on average assets improved to 1.33% for the quarter. → Credo Stock Flashes Strong Bullish Signal—Upswing Just Starting Schweitzer also highlighted efforts to lower the loan-to-deposit ratio and improve operating leverage. He said the company’s average loan-to-deposit ratio was 280 basis points lower than the first quarter of 2025, while the efficiency ratio declined 190 basis points year over year, which he tied to benefits from recent technology investments. Management emphasized capital return actions taken during the quarter. Schweitzer said the board increased the quarterly dividend by 4.5% to $0.23 per share and that the company repurchased 351,138 shares during the quarter. → Allbirds Exits Shoes, Pivots to AI With NewBird Rebrand In response to a question about the pace of repurchases, Schweitzer said he did not anticipate pulling back on buybacks in the near term. CFO Brian Richardson added that the company closely monitors common equity tier 1 (CET1) capital and indicated management intends to manage that level lower through buybacks. Richardson said CET1 started the year at 11.22% and ended the first quarter at 11.32%, and that the company does not expect that increase to continue. Schweitzer also said the company continues to keep “dry powder” available for potential opportunities across bank, wealth and insurance M&A, but that the “best use” of capital currently appears to be share repurchases. He said Univest is open to “opportunistic strategic” M&A and is looking at opportunities more than it had in recent years, while remaining “heavier in the buyback arena” for now. → Amazon Stock Up 30%: Is AMZN Still a Buy Before Earnings? Richardson said Univest posted “solid” net interest margin (NIM) expansion in the quarter. Reported NIM increased 23 basis points to 3.33%. He added that core NIM, which excludes excess liquidity, was 3.44% and increased seven basis points from the fourth quarter. On the outlook, Richardson said the company updated its full-year net interest income growth expectation to a range of 5% to 7%, citing first-quarter performance and “continued margin momentum.” He said the effective tax rate is expected to remain in the 20% to 21% range. Asked about how many Federal Reserve rate cuts were embedded in expectations, management said initial guidance assumed two cuts, but that moving to fewer—or even none—would not meaningfully change the company’s guidance range. Management said the first couple of rate cuts are not expected to be “overly impactful” to net interest income or margin in the near term due to repricing timing dynamics. On loan growth, management maintained its outlook for approximately 2% to 3% growth for 2026. During the Q&A, Chief Operating Officer and President of Univest Bank and Trust Mike Keim said the loan pipeline was “solid for the second quarter” and noted that the company has started to see a “normalization” in prepayment activity. Keim said the company recorded $23 million of net commercial growth in the first quarter despite making fewer commitments than in the prior year period. He also said Univest typically sees its best loan growth in the second and fourth quarters and did not see anything that would change that expectation. Competitive pressure was a recurring theme. Keim said competition has increased “especially on the CRE side,” while noting that construction lending margins remain strong. He added that competition has also intensified on permanent takeout loans and strong C&I credits, though he said the company is still able to operate in targeted niches with “strong pricing.” Management said new commercial loan rates in the first quarter were consistent with the fourth quarter, “in that kind of mid-6% range.” Richardson said credit quality “remained strong” in the first quarter and that the company recorded a provision for credit losses of $1.3 million. As of March 31, non-performing loans and leases were approximately 0.25% of total loans, while the allowance for credit losses remained steady at 1.28% of loans held for investment. Net charge-offs totaled $1.3 million, or seven basis points annualized. In response to a question about potential pressure points among borrowers, management said it was not seeing concerning trends in the portfolio. Management pointed to monitoring the impact of higher fuel and energy costs and, given the company’s “large ag book,” potential impacts tied to fertilizer costs. Management said some shipping and distribution customers have been able to add surcharges, and that many agricultural clients had purchased fertilizer in advance, making it more of a “next year consideration.” On revenue diversification, Richardson said non-interest income increased $1.7 million, or 7.5%, compared to the first quarter of 2025. Excluding BOLI death benefits, he said non-interest income increased $2.3 million, or 11%, driven by strength in investment advisory, insurance and servicing-related fee income, as well as higher risk participation and swap-related fee income. Mortgage banking revenue increased modestly from the prior period, reflecting higher saleable volume. Non-interest expense rose $3.3 million, or 6.8%, year over year. Richardson said that included $427,000 of restructuring charges and a $753,000 increase in medical claims expense tied to the company’s self-funded medical plan, which he said can create volatility based on the timing and size of claims. Excluding restructuring charges and the increase in medical costs, expenses rose $2.2 million, or 4.4%, which Richardson said was in line with prior guidance. For full-year 2026, Richardson said management is maintaining its outlook for: Loan growth of approximately 2% to 3% Provisioning of $11 million to $13 million Non-interest income growth of approximately 6% to 8% (excluding BOLI death benefits) Non-interest expense growth of 3% to 5% In the Q&A, management also provided context on funding and liquidity. On deposit costs, management said the company is approaching an “equilibrium” in a stable rate environment, noting the overall book cost of funds was down 10 basis points on a spot basis from Dec. 31 to March 31, with some ongoing CD repricing. Management said efforts to grow deposits and reduce the loan-to-deposit ratio can put pressure on cost of funds, contributing to expectations for relative stability rather than further material declines. Regarding cash and excess liquidity, management attributed the quarter’s decline to typical seasonality tied to the runoff of public funds and deployment into loans. Management said it expects runoff to continue into the second quarter, with a typical trough at the end of the second quarter tied to Pennsylvania tax collection cycles, followed by rebuilding later in the year. Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions. Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions. The article "Univest Corporation of Pennsylvania Q1 Earnings Call Highlights" was originally published by MarketBeat.

Image source: The Motley Fool. Thursday, April 23, 2026 at 9 a.m. ET President & Chief Executive Officer — Jeff Schweitzer Chief Financial Officer — Brian Richardson President, Univest Bank and Trust Co. — Mike Keim Need a quote from a Motley Fool analyst? Email [email protected] We had a strong start to the year as we reported net income for the first quarter of $27.1 million or $0.96 per share, which was a 24.7% increase compared to earnings per share in Q1 of 2025. Results were solid across our lines of business, resulting in our ROAA improving to 1.33% for the quarter. Additionally, we continue to execute on our initiatives to lower our loan-to-deposit ratio, which on average was 280 basis points lower than Q1 of 2025 and our efficiency ratio, which declined 190 basis points from Q1 of 2025, showing improved operating leverage as we continue to see results from our investments in technology over the past few years. Our strong results for the quarter also resulted in our rewarding our shareholders by increasing our quarterly dividend 4.5% to $0.23 per share and buying back 351,138 shares of our stock during the quarter. Before I pass it over to Brian, I would like to thank the entire Univest family for the great work they do every day and for their continued efforts serving our customers, communities and each other. I'll now turn it over to Brian for further discussion on our results. Brian Richardson: Thank you, Jeff, and thank you to everyone for joining us this morning. I would like to start by touching on 4 items from the earnings release. First, we saw a solid NIM expansion during the quarter with reported NIM increasing 23 basis points to 3.33%. Additionally, core NIM, which excludes excess liquidity of 3.44% increased 7 basis points compared to the fourth quarter. Second, during the quarter, credit quality remained strong, and we recorded a provision for credit losses of $1.3 million. At March 31, nonperforming loans and leases represented approximately 0.25% of total loans, and our allowance for credit losses remained steady at 1.28% of loans held for investments. Net charge-offs for the quarter totaled $1.3 million or 7 basis points annualized. Third, noninterest income increased $1.7 million or 7.5% compared to the first quarter of 2025. When excluding BOLI death benefits, noninterest income increased $2.3 million or 11% compared to the first quarter of 2025. This growth was driven by continued strength in investment advisory, insurance and servicing-related fee income as well as increased risk participation and swap-related fee income. Mortgage banking revenue increased modestly from the prior period, reflecting higher saleable volume during the quarter. Fourth, noninterest expense increased $3.3 million or 6.8% compared to the first quarter of 2025. This included $427,000 of restructuring charges and an increase of $753,000 or 48.8% in medical claims expense. The corporation maintains a self-funded or 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. Excluding the restructuring charges and increased medical costs, expenses increased $2.2 million or 4.4% compared to the first quarter of 2025, which is in line with the guidance that I had provided on January's call. Turning briefly to our outlook for the remainder of 2026. Based on the first quarter performance and current assumptions, we are maintaining our outlook for loan growth of approximately 2% to 3%, provisioning of $11 million to $13 million, noninterest expense growth of approximately 6% to 8%, excluding BOLI debt benefits and noninterest expense growth of 3% to 5%. We are updating our full year net interest income growth outlook to the range of 5% to 7%, reflecting the strength of the first quarter results continued with margin momentum. Our effective tax rate is expected to remain in the 20% to 21% range. That concludes my prepared remarks. Rebecca, would you please begin the question-and-answer session? Operator: [Operator Instructions] Your first question comes from the line of Jacob Morton with Stephens. Jacob Morton: This is Jacob Morton on for Matt Breese. First, I want to start out with deposit cost reductions from this quarter. I'm curious about the spot rate at the end of the quarter. And can you also talk about how much more room you see to lower deposit costs? Brian Richardson: So we're starting to get to a little bit of a point of equilibrium. Don't expect there to be too much based on the stable interest rate environment, don't expect there to be too much movement in the cost of funds in the near term. If we look at spot overall, the book, we were down 10 basis points on a spot basis compared to 12/31 to 3/31. We do have inherently churning of CDs that are coming off tend to put replacement dollars on at a little bit lower cost. But as we're looking to grow deposits and decrease our loan-to-deposit ratio, that inherently puts a little bit of pressure on cost of funds. So that's why we don't see potentially more upside, but looking for relative stability there in the near term. Jacob Morton: Got it. I appreciate the color there. And moving on, so cash balances came down quite a bit this quarter. Do you feel liquidity is where you want it or more to deploy? And if so, how do you intend to do so over time? And what is the time frame for that deployment? Brian Richardson: Yes. So the decrease we saw in cash and excess liquidity during the quarter was consistent with what we normally see from a seasonality perspective with the runoff of public funds and then you inherently have the deployment into loans we'd expect that runoff of public fund dollars to continue at a similar rate here into the second quarter. And we normally hit the trough at the end of the second quarter based on the tax collection cycles in Pennsylvania. And then we would look for that to continue to build. Again, that's just the normal seasonality of public funds outside of any of our deposit initiatives and other things we're looking to do to grow core deposits. Jacob Morton: Got it. Great. And last one for me. Can you talk about the loan pipeline, expectations for growth over the next few quarters and competitive conditions? And then last, what are incremental yields? Mike Keim: So it's Mike Keim. In terms of pipeline, pipeline is solid for the second quarter. And the biggest thing that we're starting to see is somewhat of a normalization of our prepayment activity. That's actually what saw some of our commercial growth. We actually did a lower number of commitments in the first quarter than we did prior year, but still did an additional $23 million worth of net growth on the commercial side. So pipelines are solid. From a competitive perspective, and I would also mention that typically and historically, our quarters, the second quarter and the fourth quarter have been our best quarters from a loan growth perspective. And I don't see anything in the current picture that would change that. From a competitive perspective, it continues -- actually has gotten more competitive, especially on the CRE side. The good news with that from our perspective is we are playing more on the construction side, which margins are still strong there. But on the permit takeout side and obviously, on the strong C&I credits, you are starting to see this get even more competitive than it was. So we're still able to play in the niches that we want to and still see strong pricing with where we're originating and funding loans at. Brian can give you the specifics with regard to pricing. Brian Richardson: Yes. We tend to be in the -- it's really consistent with the fourth quarter, what we saw in the first quarter in that kind of mid-6 range is where we were on new commercial loan rates. Operator: Your next question comes from the line of Emily Lee with KBW. Emily Noelle Lee: This is Emily Lee stepping in for Tim Switzer. Congrats on a great quarter. Yes, no problem. So my first question is, how many Fed rate cuts are baked into your expectations? And if we have a flat rate environment, where do you anticipate the NIM shaking out? And then what would the impact of 125 bps Fed rate cut have on the NIM? Brian Richardson: So when we came into the year in my initial guidance and our initial guidance was based on 2 rate cuts in the year. But as I had indicated at that time, the first couple of rate cuts really is not impactful to our over -- exclusive of short-term timing within any given quarter and just the timing of how things reprice, not overly impactful to our NII or NIM in the near term. So therefore, with the fact that now if there's an expectation of lower or reduced rate cuts, not really expecting that to have an impact on our guidance. So call it, whether there's 2 cuts or no cuts, we're kind of in the same range as the guidance that I provided. Emily Noelle Lee: Great. And then kind of switching to capital. On capital deployment, you continue to be active on the buyback front with about $12 million of repurchases this quarter. So how should we think about the buyback story going forward given your current capital position? And do you kind of anticipate you sticking around the $10 million plus range quarterly? Or would you guys pull back at all? Jeff Schweitzer: Emily, this is Jeff. No, I don't anticipate us pulling back on buybacks. It's a balance between loan growth, timing of loan growth where you might see a slight increase in our ratios compared to what we're targeting. But overall, we don't anticipate pulling back on buybacks in any time in the near future. Brian Richardson: Yes. And this is Brian. Just to elaborate a little bit further. As we have indicated in the past, we really do not -- the metric we most closely monitor is CET1. We do not look for that to materially grow or really grow at all. During the quarter, that didn't -- we came into the year at 11.22%. We finished the first quarter here at 11.32%. We do not look for that to continue, and we actually look to ratchet that back down to that 11.22% or lower range here. So we would be ramping up buybacks accordingly to target that. Emily Noelle Lee: Understood. And then outside of buybacks, you increased the dividend this quarter. Are there any -- are you exploring any other capital priorities? And I guess, has your update for M&A changed at all? Or is it mainly buybacks? Jeff Schweitzer: So right now, I mean, we want to -- we've always wanted to keep some dry powder out there in case there are opportunities on the M&A front, whether it be in bank M&A, wealth M&A, insurance M&A. Right now, the best use of our capital appears to be on buying back shares. Obviously, there's no real execution risk there. Our earn-back period is still pretty short. So we're going to continue to be somewhat aggressive on the buyback front, but be opportunistic if something of interest were out there. We are open to looking at M&A opportunities that may arise more so than we probably were the last few years. given that we've done a lot of things internally that we've gotten projects behind us that we think we're probably in a lot better place to be able to look at M&A opportunities. So we're looking at them. We -- we'd be open to an opportunistic strategic opportunity. But in the meantime, we will continue to be heavier in the buyback arena. Emily Noelle Lee: Definitely makes sense. And then I guess just on the credit front, credit remained stable. I guess, is there anything you've been kind of looking out for from borrowers that you're kind of keeping an eye on? Jeff Schweitzer: First, there's no trends that we're seeing in our portfolio that are concerning. And I think that what we would look at is similar to what everybody else is looking at in terms of what is the impact of higher fuel costs and energy costs. And then we have a large ag book. So what is the impact of shortfalls and then obviously, increases in fertilizer costs. At the present time, those customers that are in either the shipping/distribution business are putting surcharges in. So they're not impacted it and are in discussion with our kind of ag clients, most of them have bought and gotten their fertilizer in advance. So it will be a next year consideration and one we'll have to evaluate in terms of how long the conflict remains and what the impact is on fertilizer prices as we move forward here. Emily Noelle Lee: Got it. And then just lastly for me. Can you just remind us what portion of the loan book is floating rate? Brian Richardson: About 1/3 of the book is purely floating, about 30% is fixed, and then we have the remainder, which is adjustable with a little bit longer reset dates. Operator: [Operator Instructions] And at this time, there are no -- my apologies. And at this time, we have a question from the line of Chris Reynolds with Neuberger Berman. Chris Reynolds: Yes, that was just a terrific quarter. My questions have been answered, but I just wanted to provide an observation that Neuberger became investors in your company back in 2009 when you raised cash, selling shares around $17. And Jeff, you and your management team have just done a superb job. Taking a look at where your earnings are right now, you may be approximating a $4 per share normalized earnings rate. And in that '08, '09 period, you were in the $1.60, $1.75 range. So there's been a tremendous increase in the earnings production and your market cap during that period has gone from about $270 million to $950 million. And so there's been a tremendous performance. And I think your stock does look undervalued, and I support the comments that you made about stock repurchase because if you look back during that period that I just referenced, your stock has topped out around $30 a share, 4x despite this increase in the earnings power of the company. So my thought is it looks like your stock is broken out and likely continue to move higher and the stock repurchase program really makes a lot of sense. So I just wanted to provide those comments and congratulate you on the performance. Jeff Schweitzer: Thanks, Chris. We really appreciate it. It's good to hear your voice. I know it's been a little bit of a while, but I appreciate you as a shareholder and all of our shareholders. We're excited about the first quarter. We're excited about the year. Obviously, there's a lot of uncertainty in the world, but I think we're in a good spot, and we're looking forward to having a really successful 2026. Operator: I will now turn the call back over to Jeff Schweitzer for closing remarks. Jeff Schweitzer: Thank you, Rebecca, and thank you, everyone, for joining us today. We have our shareholders' meeting this afternoon at 11:30 later this morning. So if anybody participates in that, we look forward to talking to you again at that point. Otherwise, just really appreciate everybody's support. And as I said a few seconds ago, we're really excited about the first quarter results and the year ahead of us and look forward to continue to perform at a high level. Have a great day. Operator: Ladies and gentlemen, that concludes today's call. Thank you all for joining. You may now disconnect. Before you buy stock in Univest Financial, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Univest Financial wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Univest (UVSP) Q1 2026 Earnings Transcript was originally published by The Motley Fool

Image source: The Motley Fool. Thursday, July 24, 2025, at 9 a.m. ET Chief Executive Officer — Jeff Schweitzer President & Chief Operating Officer — Mike Keim Chief Financial Officer — Brian Richardson Jeff Schweitzer: Thank you, Carly, and good morning, and thank you to all of our listeners for joining us. Joining me on the call this morning is Mike Keim, our Chief Operating Officer and President of Univest Bank and Trust; and Brian Richardson, our Chief Financial Officer. Before we begin, I would like to remind everyone of the forward-looking statements disclaimer. Please be advised that during the course of this conference call, management may make forward-looking statements that express management's intentions, beliefs or expectations within the meaning of the federal securities laws. Univest's actual results may differ materially from those contemplated by these forward-looking statements. I will refer you to the forward-looking cautionary statements in our earnings release and in our SEC filings. Hopefully, everyone had a chance to review our earnings release from yesterday. If not, it can be found on our website at univest.net under the Investor Relations tab. We reported net income of $20 million during the second quarter or $0.69 per share. While loan outstandings contracted by $31.9 million during the quarter, production has remained solid through the first 6 months of the year. However, we continue to be impacted by early payoffs and paydowns. Overall, year-to-date commercial loan production through June 30 was $507 million compared to $402 million in the prior year. However, this has resulted in contraction in loan outstandings year-to-date of $25.4 million compared to growth of $117.6 million in the prior year. While deposits decreased $75.8 million during the quarter, this was predominantly due to the seasonal decline of public funds deposits and a decline in broker deposits. Excluding these declines, deposits increased $77.5 million during the quarter. During the quarter, we recorded $7.8 million of net charge-offs predominantly related to one credit, which accounted for $7.3 million of the charge-offs. The remaining balance of this relationship of $16.4 million has been placed on nonaccrual and is supported by the appraised value of the real estate collateral. As this is still an active situation where fraud is suspected, we will have no further comments at this time. Absent this one relationship, credit quality continues to remain strong. Before I pass it over to Brian, I would like to thank the entire Univest family for the great work they do every day and for their continued efforts serving our customers, communities and each other. I'll now turn it over to Brian for further discussion on our results. Brian Richardson: Thank you, Jeff. I would also like to thank everyone for joining us today. I would like to start by highlighting a few items from the earnings release. First, during the quarter, reported NIM of 3.2% increased by 11 basis points from 3.09% in the prior quarter due to increased yields on assets and a reduction in our cost of funds. Core NIM of 3.24%, which excludes the impact of excess liquidity, expanded by 12 basis points compared to the first quarter. We expect core NIM to contract by a few basis points in the third quarter due to the repricing of our 2020 sub debt issuance and the seasonal build of higher cost public funds. However, we expect NII to be relatively in line with the second quarter. Second, noninterest income increased by $521,000 or 2.5% compared to the second quarter of 2024. This was primarily driven by increases in investment management fees, gains on sale of SBA loans and treasury management fees, partially offset by a decrease in net gains on mortgage banking due to elevated interest rate environment and competition. Third, noninterest expense increased $1.6 million or 3.3% compared to the second quarter of 2024. The increase was primarily driven by compensation costs, specifically annual merit increases, medical costs and variable incentives. I believe the remainder of the earnings release was straightforward, and I would now like to provide an update to our 2025 guidance. First, for the full year, we expect loan growth of approximately 1% to 3%, and we expect net interest income growth of 10% to 12% compared to 2024. Second, our provision for credit loss guidance remains unchanged at $12 million to $14 million for 2025. However, the provision will continue to be event-driven, including loan growth, changes in economic-related assumptions and the credit performance of the portfolio, including specific credits. Third, 2024 noninterest income totaled $84.5 million when excluding the $3.5 million gain on sale of MSRs and $245,000 of BOLI death benefits. For 2025, we expect noninterest income growth of approximately 1% to 3% off the $84.5 million base. Fourth, we reported noninterest expense of $198 million for 2024. For 2025, we expect growth of approximately 2% to 4% Lastly, as it relates to income taxes, our guidance remains unchanged at 20% to 20.5% based on current statutory rates. The aggregate impact of these guidance updates when compared to our most recent guidance is accretive to both EPS and PPNR. That concludes my prepared remarks. We will be happy to answer any questions. Carly, would you please begin the question-and-answer session? Operator: [Operator Instructions] Our first question comes from Tim Switzer from KBW. Timothy Switzer: I apologize, you broke up a little bit on my end on some of the guidance numbers. Could you give me your update for loan growth and expenses? Brian Richardson: Sure. Loan growth is 1% to 3% and corresponding net interest income growth is 10% to 12% and then expenses is 2% to 4%. Timothy Switzer: Okay. Great. I guess could you maybe talk about some of the changes there? It looks like both those numbers are down a little bit. Could you just talk about what you're seeing from the loan environment? Is there a lot of -- is demand kind of faltering a little bit? Or is it more about competition? Brian Richardson: Actually, as Jeff referenced at the beginning of his remarks, Tim, loan activity and loan origination activity is strong. We're consistent with what it has been in the prior year. We were just impacted fairly significantly by payoff activity in the first half of the year. We look to -- we predict that and forecast that and are interacting with our customers to the best of our ability. We're looking for that to slow down, that being prepayment activity in the second half of the year, and we'll continue to produce at the levels that we have, and therefore, that will lead to growth. And then on the expense side, we just continue to see the benefit of our prudent expense management and discipline on that side. Of course, there's some variable expenses like medical costs and some things like that, that aren't directly controllable. But as we trend through the first 6 months of the year, that's what's causing us to ratchet the expense growth down from 4% to 5% down to 2% to 4%. Timothy Switzer: Got you. Okay. And you guys are sitting with very healthy capital levels. You haven't seemed all that determined to execute any M&A deals. You guys are doing a little bit of share repurchases, but with the share price coming up, it's going to be a longer earnback. Can you kind of talk about what your strategy is going to be to efficiently deploy that capital and whether you're going to return it to shareholders or find some opportunities to reinvest into the business? Jeff Schweitzer: Yes. So Tim, we will continue to be active on buybacks. And even with the rise in our share price, the earn-back period, while it's gotten longer, it's still well -- it's within a 2- to 3-year range even as we go up from here. So we'll continue to stay active on the buyback front. We feel that's a good use of capital. While M&A isn't an immediate strategic priority of ours, we always want to be -- have our eyes open and see what's available out there. There's nothing that's overly exciting right now. But we also look at on the insurance side, wealth management side, we're always keeping our eyes open there, too. So we're not opposed to M&A. I would say it's probably more on the nonbank side than the bank side at this point that we would be more interested. But in lieu of opportunities like that, we're going to continue to also do share buybacks. Timothy Switzer: Okay. And I'm curious what you guys are hearing or seeing in terms of deposit competition out there. There's been some reports from some competitors that it's starting to step up a little bit. And with the Fed not lowering rates this year so far, it sounds like a lot of the deposit repricing has kind of already ran through. Mike Keim: No, I would say that's consistent with what we see, especially on the consumer side with money market rates and CD rates. So yes, it is a tough environment out there. People continue to fight for the deposit and generate the liquidity necessary to support their growth. So we've identified certain things, certain campaigns and certain niches that we continue to push forward with. And we look forward to continue to grow our deposits as the year moves forward. As you well know or most people know as they follow us, the third quarter will be a peak quarter for us on public funds. So that would be expected and we will continue to manage through. But no, it is a tough environment from a competitive perspective. Timothy Switzer: Okay. Got you. And last question for me. Could you guys talk about your outlook in terms of the NIM trajectory going forward over the next couple of quarters? You mentioned public funds is going to be seasonally higher next quarter, so that impacts it a little bit. And then what would you guide -- what kind of impact would you expect from 1 or 2 rate cuts in the back half of the year? Brian Richardson: Sure, Tim. So as I had guided for the third quarter, we expect core NIM to pull back -- reported NIM to pull back for sure, core NIM to pull back slightly just again, due to our -- the repricing of our sub debt issuance as well as those higher cost public funds coming on, then we expect it to be flat to slightly up thereafter, assuming relatively stable interest rate environment for the next several quarters. If we -- 1 or 2 rate cuts, it really does not expect it to be impactful over a longer term. There might be noise within a given quarter just based on how the timing of when assets and liabilities reprice. But then once that kind of blends itself through, you're not expecting that to be overly impactful due to our relative neutrality from an ALM perspective. Operator: [Operator Instructions] Our next question comes from Tyler Cacciator from Stephens. Tyler Cacciator: This is Tyler on for Matt Breese. I just wanted to start, last week, Senator Dave McCormick held Energy and Innovation Summit in Pittsburgh, outlining a number of projects totaling around $90 billion in data centers, energy and power infrastructure and some other projects, some of which are expected in Eastern Pennsylvania. Just curious on if you've heard anything on these projects and if you think there could be some positive benefit in your footprint? Jeff Schweitzer: I mean any time that there's investment in our state, we're obviously very supportive of that and excited to see the money flowing into Pennsylvania. We'll benefit more from our customers being able to participate in any projects that are being built out. We have a very diversified customer base, a lot of which are in electrical contracting and construction and things of that nature that could potentially benefit from this. I think it's a little early stages right now as far as that we've heard any significant chatter from our customers in market, but I know that everybody is excited, obviously, to see the investment made in Pennsylvania. Mike Keim: And I would just add, wouldn't just be Eastern Pennsylvania for us. We're obviously active in Central Pennsylvania, and we have a presence in Western Pennsylvania. So to Jeff's point, we'd be certainly pleased to participate across our footprint. Tyler Cacciator: All right. And then I just had one more. I know you talked about the pipeline a little bit. I was just wondering how yields are holding up. I know you cited some increased competition. But in terms of spread compression, how much are you seeing there? Brian Richardson: We really haven't. New loan yields on the commercial side, especially have been relatively stable for the last quarter or 2. And again, as we said, production remained strong, just the lack of loan growth is really driven by the payoff headwinds. Tyler Cacciator: Okay. Great. So do you think without any rate cuts, this pace of loan yield expansion is repeatable? Brian Richardson: Not repeat. I think that will definitely start to slow down from an expansion perspective because we have the repricing of the book occurs, of course, as that base gets higher, just on a notional basis, that expansion will start to slow down even if you can remain with consistent production volume. So I think it would slow down a little bit and things remain competitive for sure, but nothing that would suggest at this point that it's going to start pulling back in any way. Operator: We currently have no further questions. So I'd just like to hand back to Jeff Schweitzer for any further remarks. Jeff Schweitzer: I'd just like to thank everyone for participating today. I hope you're having a great summer, and we look forward to talking to everybody after the end of the third quarter. Operator: As we conclude today's call, we'd like to thank everyone for joining. You may now disconnect your lines. Before you buy stock in Univest Financial, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Univest Financial wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $499,277!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,225,371!* Now, it’s worth noting Stock Advisor’s total average return is 972% — a market-crushing outperformance compared to 198% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of April 22, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Univest (UVSP) Q2 2025 Earnings Transcript was originally published by The Motley Fool

(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. 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