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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.
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 Mortgage Banking Activities Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
No specific forward guidance provided in this report.