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Sep 30, 2023
Univest Q3 2023 Earnings Report
Net income decreased due to increases in the cost of funds and interest-bearing liabilities, partially offset by an increase in the yield and average balance of interest-earning assets.
Key Takeaways
Univest Financial Corporation reported net income of $17.0 million, or $0.58 diluted earnings per share, for the quarter ended September 30, 2023, compared to net income of $20.8 million, or $0.71 diluted earnings per share, for the quarter ended September 30, 2022.
Gross loans and leases increased $112.7 million, or 1.7%, from June 30, 2023.
Total deposits increased $451.8 million, or 7.5%, from June 30, 2023.
Net interest income decreased $740 thousand, or 1.4%, from the three months ended June 30, 2023.
Noninterest income increased $732 thousand, or 4.1%, compared to the third quarter of 2022.
Revenue by Segment
Forward Guidance
No specific forward guidance provided in this report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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