Univest Q3 net income $18.6M ($0.63 EPS), up 9% YoY; loan growth 2.8% annualized

UNIVEST FINANCIAL Corp

2024-Q3 EPS reported $1.94 revenue$222,423,000

Q3 2024 net income $18.6M, diluted EPS $0.63 vs $0.58 a year ago; net interest income $53.2M, down 0.7% YoY but up 4.3% linked quarter.
Loans grew $45.9M (0.7%) from Q2; total deposits up $358.8M (5.5%) driven by seasonal public funds. Noninterest-bearing deposits 19.3% of total.
Noninterest income $20.2M (+7.8% YoY) on higher investment advisory and insurance fees; expenses down 0.9% to $48.6M.
Nonperforming assets flat at $36.6M; provision for credit losses $1.4M vs $2.0M last year. Allowance 1.28% of loans.
Declared $0.21/share dividend (payable Nov 20); repurchased 156,728 shares; board authorized additional 1M shares for repurchase.

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