Financial Data and Key Metrics Changes - The company reported net income of $22.4 million for Q1 2025, translating to $0.77 per share, indicating a solid start despite economic uncertainties [4] - Net loan growth was $6.5 million, impacted by larger payoffs, while deposits decreased by $100.8 million primarily due to seasonal declines in public funds deposits [5] - The net interest margin (NIM) improved to 3.09% from 2.88% in Q4 2024, reflecting stabilization in non-interest-bearing deposits and disciplined loan pricing [6] Business Line Data and Key Metrics Changes - Non-interest income decreased by $3.2 million or 12.4% compared to Q1 2024, with contingent income in the insurance line decreasing by $700,000 [10] - Non-interest expense decreased by $746,000 or 1.5% compared to Q1 2024, demonstrating a focus on prudent expense management [11] Market Data and Key Metrics Changes - Credit quality remained strong, with non-performing assets to total assets increasing slightly by two basis points to 43 basis points, and net charge-offs remaining low at 10 basis points annualized [6] Company Strategy and Development Direction - The company plans to continue stock buybacks, having repurchased 221,760 shares during the quarter, indicating a commitment to returning capital to shareholders [7] - The management aims to navigate the loan-to-deposit ratio towards a target of 95% to 100%, acknowledging the cyclicality and seasonality of public funds [18][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating uncertainties related to interest rates and geopolitical concerns, emphasizing a solid first quarter performance [4][27] - The company maintains a guidance range for fee income growth of 4% to 6% for the year, contingent on mortgage banking performance [15] Other Important Information - The Board of Directors announced a $0.01 increase in the quarterly dividend to $0.22 per share, reflecting a commitment to returning value to shareholders [6] Q&A Session Summary Question: Fee income growth expectations - Management confirmed a guidance range of 4% to 6% for fee income growth, with mortgage banking performance being a potential driver [15] Question: Loan-to-deposit ratio trends - Management indicated a long-term target of 95% to 100% for the loan-to-deposit ratio, acknowledging the seasonal fluctuations in public funds [18][20] Question: Capital return and buyback potential - Management discussed the potential for buybacks, indicating that decisions will be made quarterly based on earnings projections and regulatory capital ratios [22]

Financial Data and Key Metrics Changes - The company reported net income of $22.4 million for Q1 2025, translating to $0.77 per share, indicating a solid start despite economic uncertainties [4] - Net loan growth was $6.5 million, impacted by larger payoffs, while deposits decreased by $100.8 million primarily due to seasonal declines in public funds [5] - The net interest margin (NIM) improved to 3.09% from 2.88% in Q4 2024, reflecting effective loan pricing discipline [5][7] - Nonperforming assets to total assets increased slightly by 2 basis points to 43 basis points, with net charge-offs remaining low at 10 basis points annualized [6] Business Line Data and Key Metrics Changes - Noninterest income decreased by $3.2 million or 12.4% compared to the previous quarter, with a notable decline in contingent income from the insurance line [8] - Noninterest expense decreased by $746,000 or 1.5%, demonstrating the company's focus on prudent expense management [9] Market Data and Key Metrics Changes - The company observed a cautious approach from commercial customers due to uncertainties surrounding tariffs, taxes, and interest rates, impacting loan growth [5] Company Strategy and Development Direction - The company plans to continue stock buybacks, having repurchased 221,760 shares during the quarter, and aims to maintain a disciplined approach to capital deployment [6][16] - The management maintains a loan-to-deposit ratio target of 95% to 105%, acknowledging the seasonal fluctuations in public funds [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating uncertainties in the economic environment and highlighted a solid first quarter performance [20] - The company expects fee income growth in the mid-single digits for the year, contingent on mortgage banking performance [11] Other Important Information - The Board of Directors announced a $0.01 increase in the quarterly dividend to $0.22 per share, reflecting the company's commitment to returning capital to shareholders [6] Q&A Session Summary Question: Fee income growth expectations - Management confirmed guidance for fee income growth at 4% to 6% for the year, with mortgage banking performance being a potential driver [11] Question: Loan to deposit ratio trends - Management indicated a long-term target of 95% to 100% for the loan-to-deposit ratio, acknowledging the cyclical nature of public funds [12][13] Question: Capital returns and buybacks - Management discussed the potential for continued stock buybacks, emphasizing a cautious approach based on earnings projections and regulatory capital ratios [15][16]

Exhibit 99.1 NEWS CONTACT: Brian J. Richardson UNIVEST FINANCIAL CORPORATION Chief Financial Officer 215-721-2446, richardsonb@univest.net FOR IMMEDIATE RELEASE UNIVEST FINANCIAL CORPORATION REPORTS FIRST QUARTER RESULTS (Announces 4.8% increase in dividend) SOUDERTON, Pa., April 23, 2025 - 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 ...

(Announces 4.8% increase in dividend)SOUDERTON, Pa., April 23, 2025 (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, 2025 of $22.4 million, or $0.77 diluted earnings per share, compared to net income of $20.3 million, or $0.69 diluted earnings per share, for the quarter ended March ...

Core Viewpoint - Univest Financial Corporation will host a conference call to discuss its first quarter 2025 earnings on April 24, 2025, with earnings released after market close on April 23, 2025 [1] Company Overview - Univest Financial Corporation, including its subsidiary Univest Bank and Trust Co., has approximately $8.1 billion in assets and $5.2 billion in assets under management as of December 31, 2024 [3] - The company provides a full range of financial solutions for individuals, businesses, municipalities, and nonprofit organizations primarily in the Mid-Atlantic Region [3] - Univest operates through a network of more than 50 offices and online services [3]

Financial Performance - Interest income for 2024 reached $412,355,000, an increase of 11% from $371,730,000 in 2023[188] - Net income for 2024 was $75,931,000, compared to $71,104,000 in 2023, marking a 6.9% increase[188] - The Corporation reported net income of $75.9 million for 2024, an increase of 6.8% from $71.1 million in 2023[190] - Diluted earnings per share for 2024 were $2.58, up from $2.41 in 2023, reflecting a 7.1% increase[190] - Basic net income per share for 2024 was $2.60, up from $2.42 in 2023, reflecting a growth of 7.4%[302] - Comprehensive income for 2024 was $82,585 thousand, compared to $82,562 thousand in 2023, showing stability in overall financial performance[304] Income and Expenses - Noninterest income increased to $88,055,000, up from $76,824,000 in 2023, reflecting a growth of 14.4%[188] - Total noninterest income rose to $88,055 thousand in 2024, a 14.6% increase compared to $76,824 thousand in 2023[302] - Net interest income after provision for credit losses was $205,237,000, slightly down from $209,227,000 in 2023[188] - Total noninterest expense for 2024 was $197,992 thousand, a slight increase from $197,362 thousand in 2023[302] - Interest expense rose by $49.5 million in 2024, primarily due to increased costs of interest-bearing deposits[194] - The company reported a total interest expense of $201,185 thousand in 2024, which is a 32.5% increase from $151,733 thousand in 2023[302] Credit Quality - The allowance for credit losses to total loans and leases held for investment was 1.28% at year-end 2024, down from 1.30% in 2023[188] - The provision for credit losses for the year ended December 31, 2024 was $5.9 million, down from $10.8 million in 2023[203] - Net loan and lease charge-offs for the year ended December 31, 2024 were $3.8 million, down from $5.4 million in 2023[203] - Nonaccrual loans and leases decreased to $12.7 million in 2024 from $20.5 million in 2023, indicating improved asset quality[233] - The allowance for credit losses on loans and leases was $87.1 million, representing 1.28% of loans and leases held for investment[237] - The allowance for credit losses on loans and leases increased to $87.1 million in 2024, up from $85.4 million in 2023, representing a 2.0% increase[242] Assets and Liabilities - Total assets increased by $347.8 million, or 4.5%, from December 31, 2023, reaching $8,128.4 million[221] - The Corporation's total liabilities rose to $7.24 billion in 2024, a 4.3% increase from $6.94 billion in 2023[246] - Total deposits rose by $383.5 million, or 6.0%, to $6.76 billion as of December 31, 2024, driven by increases in consumer, commercial, brokered, and public funds deposits[247] - Cash and cash equivalents increased by $79.0 million, or 31.6%, primarily due to increased interest-earning deposits at the Federal Reserve Bank[222] - The Corporation's long-term debt decreased by $85.0 million, or 27.4%, to $225.0 million in 2024, reflecting pay-downs during the year[246] Capital and Equity - Total shareholders' equity increased by $48.1 million, or 5.7%, to $887.3 million as of December 31, 2024, mainly due to a rise in retained earnings[252] - The Corporation's Tier 1 risk-based capital ratio improved to 10.85% in 2024 from 10.58% in 2023, indicating a stronger capital position[258] - Shareholders' equity grew to $887,301 thousand in 2024, compared to $839,208 thousand in 2023, marking an increase of about 5.7%[300] Economic Outlook - The economic forecast indicates a GDP growth rate of 1.12% for 2024, up from 0.76% in 2023[183] - The Corporation's cumulative gap as a percentage of interest-earning assets is -20.7% within three months and 25.0% over five years, indicating a greater amount of liabilities that can reprice over assets in the next twelve months[264] Operational Efficiency - The efficiency ratio improved to 65.7% in 2024 from 66.0% in 2023, indicating better cost management[188] - The return on average assets was 0.96% for 2024, slightly up from 0.94% in 2023[188] - Return on average equity for 2024 was 8.85%, a marginal increase from 8.83% in 2023[190] Strategic Initiatives - The Corporation's strategy for credit risk management includes well-defined credit policies and regular monitoring of loan performance[231] - The Corporation's liquidity management includes a contingency funding plan to address potential liquidity needs during financial crises[277] - The Corporation's loan portfolio is managed with strict underwriting standards, focusing on the borrower's capacity and willingness to repay[269]

Financial Data and Key Metrics - Net income for Q4 2024 was $18.9 million, or $0.65 per share [4] - Loans grew by $95.8 million during the quarter, representing a 5.6% annualized growth rate [4] - Consumer and commercial deposits increased by $104 million during the quarter [4] Business Line Data and Key Metrics - No specific data provided for individual business lines in the provided content Market Data and Key Metrics - No specific data provided for individual markets in the provided content Company Strategy and Industry Competition - No specific information provided regarding company strategy or industry competition in the provided content Management Commentary on Operating Environment and Future Outlook - No specific commentary provided by management on the operating environment or future outlook in the provided content Other Important Information - Management reminded listeners of the forward-looking statements disclaimer, noting that actual results may differ materially from those contemplated by such statements [3] Q&A Session Summary - No Q&A session content provided in the provided documents

Net Income and Earnings - Net income for Q4 2024 was $18.9 million, or $0.65 diluted earnings per share, an 18.2% increase compared to Q4 2023[1] - Net income for the twelve months ended 12/31/2024 was $75,931 thousand, up from $71,104 thousand in 2023[28] - Net income for the three months ended 12/31/2024 was $18,941 thousand, compared to $16,254 thousand for the same period in 2023, representing a 16.5% increase[47] - Basic net income per share for the twelve months ended 12/31/2024 was $2.60, up from $2.42 in 2023[28] - Net income before amortization of intangibles for the twelve months ended 12/31/2024 was $76,479 thousand, a 6.5% increase from $71,845 thousand for the same period in 2023[47] Loans and Leases - Gross loans and leases increased by $95.8 million (1.4%) from September 30, 2024, and $259.4 million (3.9%) from December 31, 2023[2] - Net loans and leases held for investment grew to $6,739,492 thousand, up from $6,481,827 thousand in December 2023[24] - Loans and leases, gross averaged $6,758,649 thousand for the three months ended December 31, 2024, compared to $6,594,233 thousand in the same period last year[24] - Total loans and leases held for investment increased to $6,826,583 thousand as of 12/31/2024, up from $6,567,214 thousand on 12/31/2023[26] - Commercial, financial, and agricultural loans remained stable at $972.84 million in Q4 2024, with a slight increase in yield to 7.15% from 7.13% in Q4 2023[36] - Real estate—commercial and construction loans increased to $3.63 billion in Q4 2024, up from $3.59 billion in Q4 2023, with a yield increase to 5.82% from 5.60%[36] - Commercial, financial, and agricultural loans generated $69,921 thousand in income with a yield of 7.19% in 2024, up from $67,487 thousand and 6.81% in 2023[40] - Real estate—commercial and construction loans increased to $3,587,147 thousand in 2024, generating $207,053 thousand in income with a yield of 5.77%, up from $3,483,576 thousand and $188,644 thousand in 2023[40] - CRE - Retail loans accounted for 8.6% of the commercial loan portfolio, totaling $463,882 thousand as of December 31, 2024[44] - Animal production loans represented 7.3% of the commercial loan portfolio, with a balance of $393,902 thousand as of December 31, 2024[44] - Total consumer loans and lease financings amounted to $1,447,719 thousand, including $994,972 thousand in real estate-residential secured loans for personal purposes as of December 31, 2024[44] - Industries with over $50 million in outstanding loans represented 84.3% of the commercial loan portfolio, totaling $4,532,454 thousand as of December 31, 2024[44] Deposits - Total deposits decreased by $94.9 million (1.4%) from September 30, 2024, but increased by $383.5 million (6.0%) from December 31, 2023[3] - Noninterest-bearing deposits totaled $1.4 billion, representing 20.9% of total deposits at December 31, 2024[3] - Total deposits reached $6,759,259 thousand, a rise from $6,375,781 thousand in the prior year[24] - Noninterest-bearing deposits increased to $1,414,635 thousand, up from $1,468,320 thousand in December 2023[24] - Total interest-bearing deposits grew to $5,146,751 thousand in 2024, with an average rate of 3.51%, up from $4,448,772 thousand and 2.83% in 2023[40] Net Interest Income and Margin - Net interest income for Q4 2024 was $55.5 million, a 5.1% increase from Q4 2023 and a 4.3% increase from Q3 2024[6] - Net interest margin was 2.88% for Q4 2024, compared to 2.82% for Q3 2024 and 2.84% for Q4 2023[7] - Net interest income for the twelve months ended 12/31/2024 was $211,170 thousand, compared to $219,997 thousand for the same period in 2023[28] - Net interest margin (FTE) for the three months ended December 31, 2024, was 2.88%, up from 2.82% in the previous quarter[30] - Net interest income increased to $55.79 million in Q4 2024, up from $53.02 million in Q4 2023, reflecting a growth of 5.2%[36] - Net interest margin improved to 2.88% in Q4 2024, up from 2.84% in Q4 2023, driven by higher interest-earning asset yields[36] - Net interest income decreased to $212,343 thousand in 2024 from $221,196 thousand in 2023, with a net interest margin of 2.86% compared to 3.12% in 2023[40] Noninterest Income and Expenses - Noninterest income for Q4 2024 was $21.3 million, a 14.6% increase from the same period in 2023[8] - Noninterest income for the twelve months ended 12/31/2024 was $88,055 thousand, compared to $76,824 thousand in 2023[28] - Net deferred costs amortization for Q4 2024 was $676 thousand, compared to $428 thousand in Q4 2023, indicating higher amortization expenses[38] - Net deferred costs amortization for the twelve months ended December 31, 2024, was $2.7 million, compared to $2.1 million in 2023[42] - Restructuring charges for the twelve months ended 12/31/2024 were $1,519 thousand, compared to $189 thousand for the same period in 2023[47] Asset Quality and Credit Losses - Nonperforming assets totaled $33.2 million at December 31, 2024, down from $36.6 million at September 30, 2024, and $40.1 million at December 31, 2023[14] - The provision for credit losses was $2.4 million for Q4 2024, compared to $1.4 million for Q3 2024 and $1.9 million for Q4 2023[16] - Nonperforming loans and leases decreased to $12,988 thousand as of 12/31/2024, down from $21,061 thousand on 12/31/2023[26] - Allowance for credit losses as a percentage of loans and leases held for investment remained stable at 1.28% as of 12/31/2024[26] - Net loan and lease charge-offs for the twelve months ended 12/31/2024 were $3,802 thousand, down from $5,397 thousand in 2023[26] - Total nonperforming assets decreased to $33,205 thousand as of 12/31/2024, down from $40,093 thousand on 12/31/2023[26] Dividends and Shareholder Equity - Univest declared a quarterly cash dividend of $0.21 per share, payable on February 19, 2025[17] - Shareholders' equity increased to $887,301 thousand, compared to $839,208 thousand in December 2023[24] - Dividends declared per share remained consistent at $0.84 for both 2024 and 2023[28] - Common equity book value per share as of December 31, 2024, was $30.55, up from $28.44 in the same period in 2023[30] - Tangible common equity as of 12/31/2024 was $709,528 thousand, up 7.3% from $661,293 thousand as of 12/31/2023[47] - Average tangible common equity for the twelve months ended 12/31/2024 was $680,316 thousand, an 8.4% increase from $627,355 thousand for the same period in 2023[47] - Shareholders' equity as of 12/31/2024 was $887,301 thousand, a 5.7% increase from $839,208 thousand as of 12/31/2023[47] Total Assets and Liabilities - Total assets increased to $8,128,417 thousand as of December 31, 2024, compared to $7,780,628 thousand in the previous year[24] - Cash and cash equivalents stood at $328,844 thousand, up from $249,799 thousand in the previous year[24] - Investment securities available for sale, net of allowance for credit losses, totaled $357,361 thousand, slightly higher than $351,553 thousand in December 2023[24] - Long-term debt decreased to $225,000 thousand, down from $310,000 thousand in the previous year[24] - Total assets as of 12/31/2024 were $8,128,417 thousand, a 4.5% increase from $7,780,628 thousand as of 12/31/2023[47] - Tangible assets as of 12/31/2024 were $7,950,644 thousand, a 4.6% increase from $7,602,713 thousand as of 12/31/2023[47] - Total assets increased to $8.16 billion in Q4 2024, up from $7.87 billion in Q4 2023, reflecting overall growth in the company's financial position[36] Interest-Earning Assets and Liabilities - Total interest-earning assets for the three months ended December 31, 2024, were $7,701,557 thousand, generating $107,794 thousand in income at a rate of 5.57%[32] - Total interest-bearing liabilities for the three months ended December 31, 2024, were $5,816,110 thousand, with an expense of $52,004 thousand at a rate of 3.56%[32] - Total interest-earning assets grew to $7.70 billion in Q4 2024, compared to $7.41 billion in Q4 2023, an increase of 3.9%[36] - Total interest-bearing liabilities rose to $5.82 billion in Q4 2024, compared to $5.49 billion in Q4 2023, with a cost of funds increase to 3.56% from 3.50%[36] - Total interest-earning assets increased to $7,433,260 thousand in 2024 from $7,096,690 thousand in 2023, with a yield of 5.56% compared to 5.25% in 2023[40] - The ratio of average interest-earning assets to average interest-bearing liabilities decreased slightly to 132.42% in Q4 2024 from 134.93% in Q4 2023[36] Capital Ratios and Efficiency - Tier 1 leverage ratio as of December 31, 2024, was 9.51%, compared to 9.36% in the same period in 2023[30] - Total risk-based capital ratio as of December 31, 2024, was 14.19%, up from 13.90% in 2023[30] - Efficiency ratio for the twelve months ended December 31, 2024, was 65.7%, compared to 66.0% in 2023[30] - Return on average assets for the twelve months ended December 31, 2024, was 0.96%, compared to 0.94% in the same period in 2023[30] - Return on average shareholders' equity for the twelve months ended December 31, 2024, was 8.85%, slightly higher than 8.83% in 2023[30] Tax and Adjustments - Tax-equivalent adjustments were calculated using a federal applicable rate of 21.0% for both Q4 2024 and Q4 2023[38]

Group 1 - Univest reported quarterly earnings of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.61 per share, and up from $0.55 per share a year ago, representing an earnings surprise of 6.56% [1] - The company achieved revenues of $76.8 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.26%, compared to $71.38 million in the same quarter last year [2] - Over the last four quarters, Univest has consistently surpassed consensus EPS estimates four times and topped revenue estimates two times [2] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - Univest shares have increased by approximately 2.2% since the beginning of the year, while the S&P 500 has gained 2.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.61 on revenues of $75.75 million, and for the current fiscal year, it is $2.32 on revenues of $308.02 million [7] Group 3 - The Zacks Industry Rank indicates that the Banks - Northeast sector is in the top 24% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5][6] - The estimate revisions trend for Univest is currently favorable, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6]

Core Viewpoint - Univest Financial Corporation reported a net income of $18.9 million for Q4 2024, reflecting an 18.2% increase in earnings per share compared to Q4 2023, driven by higher net interest income and noninterest income growth [1]. Financial Performance - Net income for Q4 2024 was $18.9 million, or $0.65 diluted earnings per share, compared to $16.3 million, or $0.55 diluted earnings per share, in Q4 2023 [1]. - Net interest income increased by $2.7 million, or 5.1%, from Q4 2023, totaling $55.5 million for Q4 2024 [5]. - Noninterest income for Q4 2024 was $21.3 million, an increase of $2.7 million, or 14.6%, from the same period last year [7]. Loans and Deposits - Gross loans and leases increased by $95.8 million, or 1.4% (5.6% annualized), from September 30, 2024, and by $259.4 million, or 3.9%, from December 31, 2023 [2]. - Total deposits decreased by $94.9 million, or 1.4% (5.6% annualized), from September 30, 2024, but increased by $383.5 million, or 6.0%, from December 31, 2023 [3]. Asset Quality - Nonperforming assets totaled $33.2 million at December 31, 2024, down from $40.1 million at December 31, 2023 [14]. - The provision for credit losses was $2.4 million for Q4 2024, compared to $1.4 million and $1.9 million for the previous quarters [16]. Shareholder Returns - The company declared a quarterly cash dividend of $0.21 per share, to be paid on February 19, 2025 [17]. - During Q4 2024, the company repurchased 139,492 shares at an average price of $29.64 per share [17]. Company Overview - Univest Financial Corporation has approximately $8.1 billion in assets and $5.2 billion in assets under management as of December 31, 2024 [19].