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Dec 31, 2020
Univest Q4 2020 Earnings Report
Reported net income of $25.9 million and diluted earnings per share of $0.88 for the quarter ended December 31, 2020.
Key Takeaways
Univest Financial Corporation reported a strong fourth quarter with net income of $25.9 million, or $0.88 diluted earnings per share. The results were driven by an $8.7 million reversal of provision for credit losses and a $4.0 million increase in noninterest income.
Net income for the quarter ended December 31, 2020 was $25.9 million, or $0.88 diluted earnings per share.
Pre-tax pre-provision income for the quarter ended December 31, 2020 was $22.9 million, an increase of $1.8 million, or 8.6%, from the fourth quarter of 2019.
Noninterest income for the quarter ended December 31, 2020 was $20.1 million, an increase of $4.0 million, or 24.6%, from the comparable period in the prior year.
The reversal of provision for credit losses was $8.7 million for the fourth quarter of 2020.
Forward Guidance
The press release does not contain specific forward guidance. Therefore, a response cannot be generated.
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