Univest Q2 net income falls 37% to $13.2M; EPS $0.45 vs $0.71 YoY

UNIVEST FINANCIAL Corp

2022-Q2 EPS reported $1.13

Q2 2022 net income $13.2M ($0.45 diluted EPS) vs $20.9M ($0.71) in Q2 2021, down 37%.
Gross loans (ex-PPP) grew $265.9M or 19.6% annualized from Q1 2022; total loans up 11.5% YoY.
Total deposits fell $484.9M (32% annualized) from Q1 2022; down $492.1M from Dec 2021.
New change-in-control agreements for CEO, COO, CFO and CRO with 2x salary+bonus severance and non-compete.

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