Univest Financial Corporation Reports First Quarter Results

(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. 

(UVSP - ER)

CONTACT:Brian J. Richardson UNIVEST FINANCIAL CORPORATION Chief Financial Officer 215-721-2446, [email protected] 

Univest Financial CorporationConsolidated Selected Financial Data (Unaudited)March 31, 2026(Dollars in thousands)                   Balance Sheet (Period End)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25ASSETS         Cash and due from banks$69,645  $63,579  $70,843  $76,624  $73,319 Interest-earning deposits with other banks 152,712   490,133   745,896   83,741   95,815 Cash and cash equivalents 222,357   553,712   816,739   160,365   169,134 Investment securities held-to-maturity 119,490   123,024   126,040   128,455   130,889 Investment securities available for sale, net of allowance for credit losses 379,028   371,251   368,393   366,421   364,503 Investments in equity securities 2,898   2,014   2,413   1,801   1,667 Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost 35,511   37,808   39,617   36,482   35,732 Loans held for sale 14,371   15,288   6,330   17,774   13,150 Loans and leases held for investment 6,940,212   6,914,804   6,785,482   6,801,185   6,833,037 Less: Allowance for credit losses, loans and leases (88,900)  (88,165)  (86,527)  (86,989)  (87,790)Net loans and leases held for investment 6,851,312   6,826,639   6,698,955   6,714,196   6,745,247 Premises and equipment, net 44,774   45,554   46,245   47,140   47,175 Operating lease right-of-use assets 25,032   25,795   26,536   27,278   27,182 Goodwill 175,510   175,510   175,510   175,510   175,510 Other intangibles, net of accumulated amortization 7,583   7,328   7,537   7,967   8,061 Bank owned life insurance 142,141   140,001   139,044   140,086   139,482 Accrued interest and other assets 121,575   112,973   120,257   115,581   117,435 Total assets$8,141,582  $8,436,897  $8,573,616  $7,939,056  $7,975,167           LIABILITIES         Noninterest-bearing deposits$1,475,851  $1,431,974  $1,390,565  $1,461,189  $1,433,995 Interest-bearing deposits: 5,337,912   5,655,339   5,827,578   5,121,471   5,224,503 Total deposits 6,813,763   7,087,313   7,218,143   6,582,660   6,658,498 Short-term borrowings 26,156   24,411   11,951   6,271   4,031 Long-term debt 175,000   200,000   200,000   200,000   175,000 Subordinated notes 98,908   98,867   129,597   149,511   149,386 Operating lease liabilities 27,699   28,531   29,310   30,106   30,062 Accrued expenses and other liabilities 48,106   54,457   51,396   53,775   54,718 Total liabilities 7,189,632   7,493,579   7,640,397   7,022,323   7,071,695           SHAREHOLDERS' EQUITY         Common stock, $5 par value: 48,000,000 shares authorized and 31,556,799 shares issued 157,784   157,784   157,784   157,784   157,784 Additional paid-in capital 301,154   304,021   302,696   301,640   300,634 Retained earnings 611,771   591,202   574,715   555,403   541,776 Accumulated other comprehensive loss, net of tax benefit (25,951)  (25,467)  (31,636)  (34,969)  (37,922)Treasury stock, at cost (92,808)  (84,222)  (70,340)  (63,125)  (58,800)Total shareholders’ equity 951,950   943,318   933,219   916,733   903,472 Total liabilities and shareholders’ equity$8,141,582  $8,436,897  $8,573,616  $7,939,056  $7,975,167                      For the three months ended,Balance Sheet (Average)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25Assets$8,250,766  $8,528,465  $8,191,010  $7,979,475  $7,981,043 Investment securities, net of allowance for credit losses 499,078   497,201   492,197   497,214   500,078 Loans and leases, gross 6,939,600   6,848,654   6,790,827   6,846,938   6,856,503 Deposits 6,891,928   7,165,437   6,836,043   6,633,250   6,617,653 Shareholders' equity 949,509   936,417   923,454   908,536   896,811 

Univest Financial CorporationConsolidated Summary of Loans by Type and Asset Quality Data (Unaudited)March 31, 2026(Dollars in thousands)                   Summary of Major Loan and Lease Categories (Period End)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25Commercial, financial and agricultural$1,038,947  $1,027,434  $996,612  $1,052,246  $1,034,361 Real estate-commercial 3,656,779   3,621,536   3,517,803   3,485,615   3,546,402 Real estate-construction 299,962   306,793   309,365   302,424   281,785 Real estate-residential secured for business purpose 556,040   554,178   545,191   535,210   536,082 Real estate-residential secured for personal purpose 942,054   959,610   974,395   984,166   992,767 Real estate-home equity secured for personal purpose 201,244   200,394   197,503   195,014   189,119 Loans to individuals 12,319   12,793   13,447   14,069   16,930 Lease financings 232,867   232,066   231,166   232,441   235,591 Total loans and leases held for investment, net of deferred income 6,940,212   6,914,804   6,785,482   6,801,185   6,833,037 Less: Allowance for credit losses, loans and leases (88,900)  (88,165)  (86,527)  (86,989)  (87,790)Net loans and leases held for investment$6,851,312  $6,826,639  $6,698,955  $6,714,196  $6,745,247                     Asset Quality Data (Period End)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25Nonaccrual loans and leases$13,289  $13,743  $27,330  $27,909  $11,126 Accruing loans and leases 90 days or more past due 3,750   89   829   125   322 Total nonperforming loans and leases 17,039   13,832   28,159   28,034   11,448 Other real estate owned 24,073   23,926   23,926   22,471   22,433 Repossessed assets 124   65   40   80   79 Total nonperforming assets$41,236  $37,823  $52,125  $50,585  $33,960 Nonaccrual loans and leases / Loans and leases held for investment 0.19%  0.20%  0.40%  0.41%  0.16%Nonperforming loans and leases / Loans and leases held for investment 0.25%  0.20%  0.41%  0.41%  0.17%Nonperforming assets / Total assets 0.51%  0.45%  0.61%  0.64%  0.43%          Allowance for credit losses, loans and leases$88,900  $88,165  $86,527  $86,989  $87,790 Allowance for credit losses, loans and leases / Loans and leases held for investment 1.28%  1.28%  1.28%  1.28%  1.28%Allowance for credit losses, loans and leases / Nonaccrual loans and leases 668.97%  641.53%  316.60%  311.69%  789.05%Allowance for credit losses, loans and leases / Nonperforming loans and leases 521.74%  637.40%  307.28%  310.30%  766.86%                               For the three months ended, 03/31/26 12/31/25 09/30/25 06/30/25 03/31/25Net loan and lease charge-offs$1,263  $1,145  $480  $7,807  $1,686 Net loan and lease charge-offs (annualized)/Average loans and leases 0.07%  0.07%  0.03%  0.46%  0.10%          

Univest Financial Corporation Consolidated Selected Financial Data (Unaudited) March 31, 2026 (Dollars in thousands, except per share data)           For the three months ended, For the period:03/31/26 12/31/25 09/30/25 06/30/25 03/31/25 Interest income$106,351 $111,716 $109,648 $105,706 $103,416 Interest expense 42,986  49,167  48,324  46,165  46,635 Net interest income 63,365  62,549  61,324  59,541  56,781 Provision for credit losses 1,303  3,145  517  5,694  2,311 Net interest income after provision for credit losses 62,062  59,404  60,807  53,847  54,470 Noninterest income:          Trust fee income 2,236  2,316  2,230  2,146  2,161 Service charges on deposit accounts 2,279  2,237  2,302  2,258  2,194 Investment advisory commission and fee income 6,154  6,055  5,671  5,460  5,613 Insurance commission and fee income 7,423  4,825  5,468  5,261  6,889 Other service fee income 3,041  2,668  2,416  3,147  2,707 Bank owned life insurance income 1,332  970  1,908  1,012  1,959 Net gain on mortgage banking activities 791  886  848  981  647 Other income 832  2,065  1,080  1,236  245 Total noninterest income 24,088  22,022  21,923  21,501  22,415 Noninterest expense:          Salaries, benefits and commissions 33,459  33,009  31,652  31,536  30,826 Net occupancy 2,998  2,882  2,675  2,739  2,853 Equipment 1,079  1,052  1,076  1,043  1,122 Data processing 4,480  4,390  4,263  4,408  4,364 Professional fees 1,677  1,947  1,876  1,597  1,797 Marketing and advertising 634  479  323  498  353 Deposit insurance premiums 1,170  1,106  1,195  1,074  1,151 Intangible expenses 93  102  106  131  130 Restructuring charges 427  -  -  -  - Other expense 6,652  7,743  7,503  7,306  6,732 Total noninterest expense 52,669  52,710  50,669  50,332  49,328 Income before taxes 33,481  28,716  32,061  25,016  27,557 Income tax expense 6,389  5,971  6,422  5,038  5,162 Net income$27,092 $22,745 $25,639 $19,978 $22,395 Net income per share:          Basic$0.97 $0.80 $0.89 $0.69 $0.77 Diluted$0.96 $0.79 $0.89 $0.69 $0.77 Dividends declared per share$0.22 $0.22 $0.22 $0.22 $0.21 Weighted average shares outstanding 28,032,897  28,376,191  28,716,582  28,859,348  29,000,567 Period end shares outstanding 27,949,173  28,156,917  28,576,346  28,810,805  28,962,648            

Univest Financial CorporationConsolidated Selected Financial Data (Unaudited)March 31, 2026                               For the three months ended,Profitability Ratios (annualized)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25          Return on average assets 1.33%  1.06%  1.24%  1.00%  1.14%Return on average assets, excluding restructuring 1.35%  1.06%  1.24%  1.00%  1.14%charges (1)         Return on average shareholders' equity 11.57%  9.64%  11.02%  8.82%  10.13%Return on average shareholders' equity, excluding 11.72%  9.64%  11.02%  8.82%  10.13%restructuring charges (1)         Return on average tangible common equity (1)(3) 14.27%  11.93%  13.68%  11.02%  12.69%Return on average tangible common equity, excluding 14.45%  11.93%  13.68%  11.02%  12.69%restructuring charges (1)(3)         Net interest margin (FTE) 3.33%  3.10%  3.17%  3.20%  3.09%Efficiency ratio (2) 59.7%  61.8%  60.2%  61.6%  61.6%          Capitalization Ratios                   Dividends declared to net income 22.8%  27.5%  24.7%  31.8%  27.2%Shareholders' equity to assets (Period End) 11.69%  11.18%  10.88%  11.55%  11.33%Tangible common equity to tangible assets (1) 9.72%  9.27%  9.00%  9.52%  9.31%Common equity book value per share$34.06  $33.50  $32.66  $31.82  $31.19 Tangible common equity book value per share (1)$27.71  $27.20  $26.45  $25.66  $25.06           Regulatory Capital Ratios (Period End)         Tier 1 leverage ratio 9.95%  9.51%  9.85%  9.94%  9.80%Common equity tier 1 risk-based capital ratio 11.32%  11.22%  11.40%  11.19%  10.97%Tier 1 risk-based capital ratio 11.32%  11.22%  11.40%  11.19%  10.97%Total risk-based capital ratio 13.95%  13.86%  14.28%  14.58%  14.35%          (1) Non-GAAP metric. A reconciliation of this and other non-GAAP to GAAP performance measures is included below.    (2) Noninterest expense to net interest income before loan loss provision plus noninterest income adjusted for tax equivalent income.   (3) Net income before amortization of intangibles to average tangible common equity.        

Univest Financial Corporation Average Balances and Interest Rates (Unaudited)  For the Three Months Ended, Tax Equivalent BasisMarch 31, 2026 December 31, 2025  AverageIncome/Average AverageIncome/Average (Dollars in thousands)BalanceExpenseRate BalanceExpenseRate Assets:        Interest-earning deposits with other banks$306,797 $2,8103.71%$680,052 $6,8083.97%Other debt and equity securities 499,078  4,0533.29  497,201  4,0213.21 Federal Home Loan Bank, Federal Reserve Bank and other stock 37,286  7047.66  38,894  7547.69 Total interest-earning deposits, investments and other interest-earning assets 843,161  7,5673.64  1,216,147  11,5833.78          Commercial, financial, and agricultural loans 959,673  15,3316.48  939,461  15,9006.71 Real estate—commercial and construction loans 3,861,156  55,7965.86  3,781,248  56,1635.89 Real estate—residential loans 1,710,239  21,5265.10  1,716,569  21,9675.08 Loans to individuals 12,396  2738.93  13,023  2979.08 Tax-exempt loans and leases 223,166  3,1165.66  225,707  3,0915.43 Lease financings 172,970  3,2127.53  172,646  3,1587.26 Gross loans and leases 6,939,600  99,2545.80  6,848,654  100,5765.83 Total interest-earning assets 7,782,761  106,8215.57  8,064,801  112,1595.52 Cash and due from banks 57,980     56,000    Allowance for credit losses, loans and leases (88,832)    (87,615)   Premises and equipment, net 45,359     46,062    Operating lease right-of-use assets 25,414     26,153    Other assets 428,084     423,064    Total assets$8,250,766    $8,528,465             Liabilities:        Interest-bearing checking deposits$1,280,570 $7,7222.45%$1,389,619 $9,1752.62%Money market savings 2,045,306  16,9183.35  2,168,721  19,6793.60 Regular savings 765,296  1,3720.73  754,027  1,4440.76 Time deposits 1,389,144  13,1303.83  1,441,199  14,3713.96 Total time and interest-bearing deposits 5,480,316  39,1422.90  5,753,566  44,6693.08          Short-term borrowings 25,578  30.05  21,490  30.06 Long-term debt 201,389  2,0934.21  200,000  2,1444.25 Subordinated notes 98,897  1,7487.17  120,764  2,3517.72 Total borrowings 325,864  3,8444.78  342,254  4,4985.21 Total interest-bearing liabilities 5,806,180  42,9863.00  6,095,820  49,1673.20 Noninterest-bearing deposits 1,411,612     1,411,871    Operating lease liabilities 28,116     28,902    Accrued expenses and other liabilities 55,349     55,455    Total liabilities 7,301,257     7,592,048    Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") 7,217,792  2.42  7,507,691  2.60          Shareholders' Equity:        Common stock 157,784     157,784    Additional paid-in capital 303,413     303,235    Retained earnings and other equity 488,312     475,398    Total shareholders' equity 949,509     936,417    Total liabilities and shareholders' equity$8,250,766    $8,528,465    Net interest income $63,835   $62,992           Net interest spread  2.57   2.32 Effect of net interest-free funding sources  0.76   0.78 Net interest margin  3.33%  3.10%Ratio of average interest-earning assets to average interest-bearing liabilities 134.04%    132.30%            * Obligations of states and political subdivisions are tax-exempt earning assets.     Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.Net interest income includes net deferred costs amortization of $793 thousand and $559 thousand for the three months ended March 31,2026 and December 31, 2025, respectively.
Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included
in the average loan balances. Tax-equivalent amounts for the three months ended March 31, 2026 and December 31, 2025 have
been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation Average Balances and Interest Rates (Unaudited)   For the Three Months Ended March 31,   Tax Equivalent Basis 2026
   2025
   AverageIncome/Average AverageIncome/Average (Dollars in thousands)BalanceExpenseRate BalanceExpenseRate Assets:        Interest-earning deposits with other banks$306,797 $2,8103.71%$119,997 $1,3604.60%Obligations of state and political subdivisions* -  --  879  41.85 Other debt and equity securities 499,078  4,0533.29  499,199  4,0193.27 Federal Home Loan Bank, Federal Reserve Bank and other stock 37,286  7047.66  37,561  6877.42 Total interest-earning deposits, investments and other interest-earning assets 843,161  7,5673.64  657,636  6,0703.74          Commercial, financial, and agricultural loans 959,673  15,3316.48  990,860  17,0206.97 Real estate—commercial and construction loans 3,861,156  55,7965.86  3,704,232  52,6765.77 Real estate—residential loans 1,710,239  21,5265.10  1,729,146  21,5425.05 Loans to individuals 12,396  2738.93  19,438  3938.20 Tax-exempt loans and leases 223,166  3,1165.66  230,133  2,8615.04 Lease financings 172,970  3,2127.53  182,694  3,2407.19 Gross loans and leases 6,939,600  99,2545.80  6,856,503  97,7325.78 Total interest-earning assets 7,782,761  106,8215.57  7,514,139  103,8025.60 Cash and due from banks 57,980     56,690    Allowance for credit losses, loans and leases (88,832)    (87,822)   Premises and equipment, net 45,359     46,852    Operating lease right-of-use assets 25,414     27,761    Other assets 428,084     423,423    Total assets$8,250,766    $7,981,043             Liabilities:        Interest-bearing checking deposits$1,280,570 $7,7222.45%$1,222,012 $7,0752.35%Money market savings 2,045,306  16,9183.35  1,840,194  18,0353.97 Regular savings 765,296  1,3720.73  702,543  7630.44 Time deposits 1,389,144  13,1303.83  1,476,495  16,1064.42 Total time and interest-bearing deposits 5,480,316  39,1422.90  5,241,244  41,9793.25          Short-term borrowings 25,578  30.05  6,909  140.82 Long-term debt 201,389  2,0934.21  217,500  2,3614.40 Subordinated notes 98,897  1,7487.17  149,319  2,2816.20 Total borrowings 325,864  3,8444.78  373,728  4,6565.05 Total interest-bearing liabilities 5,806,180  42,9863.00  5,614,972  46,6353.37 Noninterest-bearing deposits 1,411,612     1,376,409    Operating lease liabilities 28,116     30,675    Accrued expenses and other liabilities 55,349     62,176    Total liabilities 7,301,257     7,084,232    Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") 7,217,792  2.42  6,991,381  2.71          Shareholders' Equity:        Common stock 157,784     157,784    Additional paid-in capital 303,413     302,653    Retained earnings and other equity 488,312     436,374    Total shareholders' equity 949,509     896,811    Total liabilities and shareholders' equity$8,250,766    $7,981,043    Net interest income $63,835   $57,167           Net interest spread  2.57   2.23 Effect of net interest-free funding sources  0.76   0.86 Net interest margin  3.33%  3.09%Ratio of average interest-earning assets to average interest-bearing liabilities 134.04%    133.82%            * Obligations of states and political subdivisions are tax-exempt earning assets.     Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.Net interest income includes net deferred costs amortization of $793 thousand and $554 thousand for the three months ended
March 31, 2026 and 2025, respectively.  Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been includedin the average loan balances. Tax-equivalent amounts for the three months ended March 31, 2026 and 2025 have been
calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial CorporationLoan Portfolio Overview (Unaudited)March 31, 2026     (Dollars in thousands)    Industry DescriptionTotal Outstanding Balance  % of Commercial Loan Portfolio Animal Production 432,795 7.8%CRE - Retail 428,107 7.7 CRE - Multi-family 389,616 7.0 CRE - 1-4 Family Residential Investment 276,464 5.0 Hotels & Motels (Accommodation) 268,311 4.8 CRE - Office 255,519 4.6 CRE - Industrial / Warehouse 221,472 4.0 Specialty Trade Contractors 212,762 3.8 Nursing and Residential Care Facilities 163,252 2.9 Homebuilding (tract developers, remodelers) 149,383 2.7 Crop Production 136,365 2.5 Merchant Wholesalers, Durable Goods 132,459 2.4 Repair and Maintenance 128,533 2.3 CRE - Mixed-Use - Commercial 120,441 2.2 Motor Vehicle and Parts Dealers 119,414 2.2 CRE - Mixed-Use - Residential 109,227 2.0 Nondepository Credit Intermediation and Related Activities (except 5221) 104,189 1.9 Wood Product Manufacturing 103,621 1.9 Administrative and Support Services 97,371 1.8 Food Services and Drinking Places 90,711 1.6 Professional, Scientific, and Technical Services 90,018 1.6 Education 82,622 1.5 Merchant Wholesalers, Nondurable Goods 81,088 1.5 Fabricated Metal Product Manufacturing 78,283 1.4 Amusement, Gambling, and Recreation Industries 75,792 1.4 Personal and Laundry Services 64,254 1.2 Food Manufacturing 63,358 1.1 Miniwarehouse / Self-Storage 63,051 1.1 Religious Organizations, Advocacy Groups 62,815 1.1 Private Equity & Special Purpose Entities (except 52592) 56,916 1.0 Machinery Manufacturing 56,210 1.0 Industries with >$50 million in outstandings$4,714,419 84.9%Industries with <$50 million in outstandings$837,309 15.1%Total Commercial Loans$5,551,728 100.0%          Consumer Loans and Lease FinancingsTotal Outstanding Balance   Real Estate-Residential Secured for Personal Purpose 942,054   Real Estate-Home Equity Secured for Personal Purpose 201,244   Loans to Individuals 12,319   Lease Financings 232,867   Total - Consumer Loans and Lease Financings$1,388,484        Total$6,940,212   

Univest Financial CorporationNon-GAAP ReconciliationMarch 31, 2026             Non-GAAP to GAAP ReconciliationManagement uses non-GAAP measures in its analysis of the Corporation's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of the non-GAAP financial measures, which exclude the impact of the specified items, provides useful supplemental information that is essential to a proper understanding of the financial results of the Corporation. See the table below for additional information on non-GAAP measures used throughout this earnings release.             As of or for the three months ended,(Dollars in thousands)03/31/26 12/31/25 09/30/25 06/30/25 03/31/25Restructuring charges (a)$427  $-  $-  $-  $- Tax effect of restructuring charges (90)  -   -   -   - Restructuring charges, net of tax$337  $-  $-  $-  $-            Net income$27,092  $22,745  $25,639  $19,978  $22,395 Amortization of intangibles, net of tax 73   81   84   103   103 Net income before amortization of intangibles$27,165  $22,826  $25,723  $20,081  $22,498            Shareholders' equity$951,950  $943,318  $933,219  $916,733  $903,472 Goodwill (175,510)  (175,510)  (175,510)  (175,510)  (175,510)Other intangibles (b) (1,959)  (1,919)  (1,966)  (2,040)  (2,104)Tangible common equity$774,481  $765,889  $755,743  $739,183  $725,858            Total assets$8,141,582  $8,436,897  $8,573,616  $7,939,056  $7,975,167 Goodwill (175,510)  (175,510)  (175,510)  (175,510)  (175,510)Other intangibles (b) (1,959)  (1,919)  (1,966)  (2,040)  (2,104)Tangible assets$7,964,113  $8,259,468  $8,396,140  $7,761,506  $7,797,553            Average shareholders' equity$949,509  $936,417  $923,454  $908,536  $896,811 Average goodwill (175,510)  (175,510)  (175,510)  (175,510)  (175,510)Average other intangibles (b) (1,922)  (1,935)  (1,983)  (2,068)  (2,162)Average tangible common equity$772,077  $758,972  $745,961  $730,958  $719,139            (a) Associated with planned closure of two underutilized facilities; a financial center and a limited purpose banking office    (b) Amount does not include mortgage servicing rights