Univest Financial Corporation Announces Completion of $50.0 Million Subordinated Debt Offering

Core Points - Univest Financial Corporation has completed a $50.0 million private placement of fixed-to-floating rate subordinated notes [1] - The proceeds will be used to redeem $80.0 million of callable subordinated notes and for general corporate purposes [1] - The notes have a maturity date of November 15, 2035, with a fixed interest rate of 6.00% for the first five years, transitioning to a floating rate thereafter [2] Financial Details - The floating rate will be set quarterly, equal to the three-month Secured Overnight Financing Rate (SOFR) plus 261.5 basis points [2] - The notes can be redeemed by the Corporation without penalty starting November 15, 2030 [2] - These notes are structured to qualify as Tier 2 capital for regulatory purposes [2] Regulatory and Advisory Information - The Corporation has entered into registration rights agreements with purchasers for the exchange of the notes for registered subordinated notes [3] - Piper Sandler & Co. acted as the sole placement agent for the private offering, with legal advice provided by Luse Gorman, PC and Troutman Pepper Locke LLP [4] Company Overview - Univest Financial Corporation has approximately $8.6 billion in assets and $5.7 billion in assets under management as of September 30, 2025 [6] - The Corporation provides a full range of financial solutions primarily in the Mid-Atlantic Region through over 50 offices [6]