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Jun 30, 2020
Univest Q2 2020 Earnings Report
Reported net income of $2.1 million, or $0.07 diluted earnings per share.
Key Takeaways
Univest Financial Corporation reported a decrease in net income for the quarter ended June 30, 2020, with $2.1 million, or $0.07 diluted earnings per share, compared to the previous year's $16.5 million, or $0.56 diluted earnings per share.
Pre-tax pre-provision income increased by 15.1% compared to the second quarter of 2019.
The company modified approximately 1,420 loans and leases with a combined principal balance of approximately $720 million due to COVID-19.
Successfully originated approximately 2,550 loans and secured funding of approximately $510 million for customers through the Paycheck Protection Program.
Total deposits increased $462.0 million, or 41.9% (annualized), from March 31, 2020.
Univest
Univest
Univest Revenue by Segment
Revenue by Segment
Trust Fee Income Revenue
CapyFin.comService Charges on Deposit Accounts Revenue
CapyFin.comInvestment Advisory Commission and Fee Income Revenue
CapyFin.comInsurance Commission and Fee Income Revenue
CapyFin.comOther Service Fee Income Revenue
CapyFin.comBank Owned Life Insurance Income Revenue
CapyFin.comNet Gain on Sales of Investment Securities Revenue
CapyFin.comNet Gain on Mortgage Banking Activities Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
Univest did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income