Univest Financial Corporation (UVSP) Financial Statements (2024 and earlier)

Company Profile

Business Address 14 NORTH MAIN STREET
SOUDERTON, PA 18964
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments155,378893,149223,137127,751111,58575,409
Cash and cash equivalents152,799890,150219,858125,128109,42075,409
Short-term investments2,5792,9993,2792,6232,165 
Receivables  5,528    
Prepaid expense 9,48712,152    
Total current assets:164,865910,829223,137127,751111,58575,409
Noncurrent Assets
Operating lease, right-of-use asset30,05930,40734,32534,418
Nontrade receivables 20,90011,90015,300   
Property, plant and equipment50,93956,88255,63656,67659,55961,797
Intangible assets, net (including goodwill)186,894187,358181,425182,843184,549186,468
Goodwill175,510175,510172,559172,559172,559172,559
Intangible assets, net (excluding goodwill)11,38411,8488,86610,28411,99013,909
Total noncurrent assets:288,792286,547286,686273,937244,108248,265
Other undisclosed assets6,768,3595,925,0455,826,6734,979,2364,628,6544,231,188
TOTAL ASSETS:7,222,0167,122,4216,336,4965,380,9244,984,3474,554,862
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 17,001     
Accrued liabilities 17,001     
Debt197,14120,10617,90618,680189,768105,431
Total current liabilities:214,14220,10617,90618,680189,768105,431
Noncurrent Liabilities
Liabilities, other than long-term debt 4,9075,4195,3095,2995,2634,304
Liability, pension and other postretirement and postemployment benefits 4,9075,4195,3095,2995,2634,304
Total noncurrent liabilities: 4,9075,4195,3095,2995,2634,304
Other undisclosed liabilities6,226,4676,323,1025,620,8094,681,8234,165,1833,841,753
Total liabilities:6,445,5166,348,6275,644,0244,705,8024,360,2143,951,488
Equity
Equity, attributable to parent776,500773,794692,472675,122624,133603,374
Common stock157,784157,784157,784157,784157,784157,784
Treasury stock, value(48,625)(41,942)(46,253)(44,734)(45,803)(43,533)
Additional paid in capital300,808299,181296,186294,999292,401290,133
Accumulated other comprehensive loss(62,104)(16,353)(22,144)(21,730)(28,416)(17,771)
Retained earnings428,637375,124306,899288,803248,167216,761
Total equity:776,500773,794692,472675,122624,133603,374
TOTAL LIABILITIES AND EQUITY:7,222,0167,122,4216,336,4965,380,9244,984,3474,554,862

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues271,258226,088220,032214,093190,488213,498
Net investment income252,193209,731203,945214,093190,488163,015
Financial services revenue50,483
Cost of revenue(12,198) (40,794)(8,518)(20,310)(9,892)
Provision for loan, lease, and other losses(12,198) (40,794)(8,518)(20,310)
Financial services costs(9,892)
Gross profit:259,060226,088179,238205,575170,178203,606
Operating expenses  (30,443) (571)(101,651)
Other operating income, net
(Noninterest Income, Other Operating Income)
4,5004,4825,953  746
Operating income:263,560230,570154,748205,575169,607102,701
Nonoperating income
(Bank Owned Life Insurance Income)
3,7873,9812,940  3,988
Interest and debt expense(33,896)(21,348)(29,584)(44,861)(32,426)(19,839)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (71,207)(80,661)(76,495)(25,039)
Income from continuing operations before equity method investments, income taxes:233,451213,20356,89780,05360,68661,811
Other undisclosed loss from continuing operations before income taxes(136,241)(98,873)    
Income from continuing operations before income taxes:97,210114,33056,89780,05360,68661,811
Income tax expense(19,090)(22,529)(9,981)(14,334)(10,143)(17,717)
Income from continuing operations:78,12091,80146,91665,71950,54344,094
Income before gain (loss) on sale of properties:91,80146,91665,71950,54344,094
Net income available to common stockholders, basic:78,12091,80146,91665,71950,54344,094
Dilutive securities, effect on basic earnings per share  (26)(69)(236)(333)(409)
Net income available to common stockholders, diluted:78,12091,77546,84765,48350,21043,685

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:78,12091,80146,91665,71950,54344,094
Other comprehensive income (loss)(45,751)5,791(651)6,603(6,291)1,683
Comprehensive income, net of tax, attributable to parent:32,36997,59246,26572,32244,25245,777

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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