Univest Financial Corporation Reports Fourth Quarter 2025 Results

Financial Performance - Univest Financial Corporation reported a net income of $22.7 million for Q4 2025, translating to $0.79 diluted earnings per share, a 21.5% increase from $18.9 million or $0.65 per share in Q4 2024 [1] - For the full year 2025, net income reached $90.8 million, or $3.13 diluted earnings per share, compared to $75.9 million, or $2.58 per share in 2024 [1] Loans and Leases - Gross loans and leases increased by $129.3 million, or 1.9% (7.6% annualized), from September 30, 2025, primarily driven by growth in commercial and commercial real estate loans [2] - Year-over-year, gross loans and leases rose by $88.2 million, or 1.3%, mainly due to increases in construction, commercial real estate, and home equity loans [2] Deposits and Liquidity - Total deposits decreased by $130.8 million, or 1.8% (7.2% annualized), from September 30, 2025, mainly due to declines in public funds and commercial deposits [3] - However, total deposits increased by $328.1 million, or 4.9%, from December 31, 2024, primarily due to growth in commercial, brokered, and public funds deposits [3] Noninterest Income - Noninterest income for Q4 2025 was $22.0 million, reflecting a 3.2% increase from the same period in the previous year [8] - Investment advisory commission and fee income rose by $598 thousand, or 11.0%, due to asset appreciation and new customer relationships [8] Noninterest Expense - Noninterest expense for Q4 2025 was $52.7 million, an increase of $2.1 million, or 4.1%, from the same period last year [12] - Salaries, benefits, and commissions increased by $1.5 million, or 4.7%, primarily due to merit increases and higher incentive compensation [13] Asset Quality - Nonperforming assets totaled $37.8 million at December 31, 2025, down from $52.1 million at September 30, 2025 [16] - The provision for credit losses was $3.1 million for Q4 2025, compared to $517 thousand in Q3 2025 [18] Shareholder Actions - Univest declared a quarterly cash dividend of $0.22 per share, payable on February 25, 2026 [19] - The Board approved an increase of 2,000,000 shares for repurchase, representing approximately 7.1% of the common stock outstanding as of November 30, 2025 [19]