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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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