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Dec 31, 2019
Univest Q4 2019 Earnings Report
Univest Financial Corporation reported fourth quarter results with net income of $15.5 million and diluted earnings per share of $0.53.
Key Takeaways
Univest Financial Corporation reported net income for the quarter ended December 31, 2019 of $15.5 million, or $0.53 diluted earnings per share, compared to net income of $18.4 million, or $0.63 diluted earnings per share, for the quarter ended December 31, 2018. Gross loans and leases increased $380.3 million, or 9.5%, from December 31, 2018 and $134.9 million, or 12.7% (annualized), from September 30, 2019 primarily due to growth in commercial real estate and residential real estate loans. Total deposits increased $468.8 million, or 12.1%, from December 31, 2018.
Net income for the quarter ended December 31, 2019 was $15.5 million, or $0.53 diluted earnings per share.
Gross loans and leases increased $380.3 million, or 9.5%, from December 31, 2018.
Total deposits increased $468.8 million, or 12.1%, from December 31, 2018.
Noninterest income for the quarter ended December 31, 2019 was $16.2 million, an increase of $1.8 million, or 12.2%, from the fourth quarter of 2018.