Univest Q2 net income $20.9M ($0.71 EPS) vs $2.1M a year ago; loan growth ex-PPP 14% YoY

UNIVEST FINANCIAL Corp

2021-Q2 EPS reported $1.81

Net income of $20.9M ($0.71 diluted EPS) for Q2 2021, up from $2.1M ($0.07) in Q2 2020, aided by $4.8M PPP loan income and $893K BOLI death benefit.
Reversal of provision for credit losses of $59K vs $23.7M provision in Q2 2020 due to favorable CECL assumption changes.
Gross loans and leases excluding PPP grew 14.0% YoY (15.4% annualized QoQ); total deposits up 9.2% YoY.
Declared quarterly cash dividend of $0.20 per share, payable Aug 25 to holders of record Aug 11.
Director K. Leon Moyer retires Aug 1; Joseph P. Beebe appointed Class III director effective same date.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

K. Leon Moyer

Director

UVSP · UNIVEST FINANCIAL Corp

Effective: 2021-08-01
Successor: Joseph P. Beebe
Filed: July 29, 2021, 7:59 PM ET

On August 1, 2021, K. Leon Moyer will retire from the Board of Directors of the Corporation and the Bank.

Appointed

Joseph P. Beebe

Class III Director

UVSP · UNIVEST FINANCIAL Corp

Effective: 2021-08-01
Filed: July 29, 2021, 7:59 PM ET

On July 28, 2021, the Board of Directors of the Corporation appointed Joseph P. Beebe, who is presently serving as an Alternate Director of the Corporation, as a Class III director, effective August 1, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

K. Leon Moyer retired as Director at UNIVEST FINANCIAL Corp.

Action: retired
Role: Director

Exact text from the filing

On August 1, 2021, K. Leon Moyer will retire from the Board of Directors of the Corporation and the Bank.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph P. Beebe was appointed as Class III Director at UNIVEST FINANCIAL Corp.

Action: appointed
Role: Class III Director

Exact text from the filing

On July 28, 2021, the Board of Directors of the Corporation appointed Joseph P. Beebe, who is presently serving as an Alternate Director of the Corporation, as a Class III director, effective August 1, 2021.

View on SEC.gov

UNIVEST FINANCIAL Corp filing history →

Source: SEC EDGAR

accession 0000102212-21-000027

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.