Univest Q3 2022 net income $20.8M ($0.71 EPS), flat YoY; board adds 1M shares to buyback

UNIVEST FINANCIAL Corp

2022-Q3 EPS reported $1.84

Net income $20.8M, $0.71 diluted EPS for Q3 2022 vs $20.9M, $0.71 EPS in Q3 2021; includes $0.02 EPS from BOLI death benefit.
Loans ex-PPP grew 13.5% annualized from Q2 2022, 14.4% from YE 2021; deposits up 16.1% annualized from Q2 but down 5.9% from YE.
Board approved additional 1.0M shares (3.4% of outstanding) for repurchase, supplementing existing program.
Entered new change-in-control agreements with CEO, COO, CFO, and Chief Risk Officer; provides 2x salary plus avg bonus upon qualifying termination.

item 2.02 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVEST FINANCIAL Corp reported the quarter ended September 30, 2022 results: net income $20.8 million, EPS $0.71 diluted earnings per share.

Period: the quarter ended September 30, 2022
Net income: $20.8 million
EPS: $0.71 diluted earnings per share
Result: reported results

Exact text from the filing

announced net income for the quarter ended September 30, 2022 was $20.8 million, or $0.71 diluted earnings per share

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Source: SEC EDGAR

accession 0000102212-22-000045

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