Univest Financial Corporation has recently released its 10-Q report, providing a detailed insight into its financial condition and operations. The company operates as the bank holding company for Univest Bank and Trust Co., offering banking, wealth management, and insurance services. The Banking segment provides financial services to individuals, businesses, municipalities, and non-profit organizations, including deposit-taking, loan origination, mortgage banking, and equipment lease financing. The Wealth Management segment offers investment advisory, financial planning, and trust services, while the Insurance segment provides full-service insurance brokerage agency services.
According to the 10-Q report, for the three months ended March 31, 2025, Univest Financial Corporation reported a net income of $22.4 million, or $0.77 diluted earnings per share, compared to net income of $20.3 million, or $0.69 diluted earnings per share, for the same period in 2024. The company's return on average assets was 1.14%, and its return on average equity was 10.13% for the first quarter of 2025.
The report also highlighted that net interest income on a tax-equivalent basis for the three months ended March 31, 2025, was $57.2 million, representing an increase of $5.4 million, or 10.5%, compared to the same period in 2024. The net interest margin, on a tax-equivalent basis, was 3.09% for the first quarter of 2025, compared to 2.88% for the first quarter of 2024. The increase in net interest income was primarily driven by higher average balances of loans, increased yields on interest-earning assets, and a reduction in the overall cost of funds.
Univest Financial Corporation's 10-Q report provides a comprehensive overview of its financial performance and operations for the first quarter of 2025, demonstrating growth and stability in its key financial metrics. Today the company's shares have moved 1.0% to a price of $29.71. For more information, read the company's full 10-Q submission here.
