Univest Financial Corporation reported a significant increase in its financial performance for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. The company achieved a net income of $25.6 million for the three months ended September 30, 2025, representing a 38% increase from $18.6 million in the same period of the previous year. For the nine months ended September 30, 2025, net income rose to $68 million, up 19.3% from $57 million in 2024. Earnings per share also saw a notable rise, with basic earnings per share increasing to $0.89 from $0.64 year-over-year for the third quarter, and to $2.36 from $1.95 for the nine-month period.
The company’s total assets increased by 5.5% to $8.57 billion as of September 30, 2025, compared to $8.13 billion at the end of 2024. This growth was primarily driven by a substantial rise in cash and interest-earning deposits, which surged by 148.4% to $816.7 million, largely due to increased customer deposits. However, loans and leases held for investment decreased slightly by 0.6% to $6.79 billion, attributed to declines in commercial and residential mortgage loans, partially offset by increases in construction and home equity loans.
Univest Financial also reported strategic developments, including a focus on enhancing its wealth management and insurance segments. The wealth management segment's pre-tax income for the third quarter was $2.1 million, while the insurance segment reported similar earnings. The company continues to expand its customer base, with assets under management in the wealth management segment reaching $5.8 billion, up from $5.3 billion a year earlier. Additionally, the bank's total deposits increased by 6.8% to $7.22 billion, reflecting strong growth in public funds and commercial deposits.
Operationally, the bank's nonaccrual loans and leases increased to $27.3 million from $12.7 million at the end of 2024, with a related allowance for credit losses of $3.1 million. The increase in nonaccrual loans was primarily due to a significant commercial loan placed on nonaccrual status. The bank's provision for credit losses for the nine months ended September 30, 2025, was $8.5 million, compared to $3.6 million in the prior year, reflecting the impact of the aforementioned charge-off.
Looking ahead, Univest Financial remains optimistic about its growth trajectory, emphasizing its commitment to maintaining strong capital levels and liquidity. The bank's capital ratios indicate compliance with regulatory requirements, positioning it well for future opportunities. The management's focus on strategic growth in its banking, wealth management, and insurance segments is expected to drive continued profitability and shareholder value in the coming quarters.
About UNIVEST FINANCIAL Corp
Univest Financial Corporation is a community-focused financial services provider offering banking, wealth management, insurance, and equipment financing. Serving customers across Pennsylvania, New Jersey, and Maryland, it emphasizes personalized service, local decision-making, and community involvement. With a diversified business model, the company leverages its subsidiaries to deliver comprehensive financial solutions, maintain regulatory compliance, and foster inclusive workplace culture.
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