Univest Financial Corporation operates as the parent company for Univest Bank and Trust Co., primarily delivering banking solutions throughout Pennsylvania. The organization ...
Univest Financial Corporation is a regional financial services company whose operating model combines traditional community banking with wealth management and insurance services. The company was founded in 1876 and historically operated as Univest Corporation of Pennsylvania before adopting the Univest Financial Corporation name in January 2019. Its shares trade on ...Univest Financial Corporation is a regional financial services company whose operating model combines traditional community banking with wealth management and insurance services. The company was founded in 1876 and historically operated as Univest Corporation of Pennsylvania before adopting the Univest Financial Corporation name in January 2019. Its shares trade on the Nasdaq Global Select Market under the ticker UVSP. The company is headquartered at 14 North Main Street in Souderton, Pennsylvania, and serves customers across a broad Mid-Atlantic footprint, including Bucks, Berks, Chester, Cumberland, Dauphin, Delaware, Lancaster, Lehigh, Montgomery, Northampton, Philadelphia, and York counties in Pennsylvania, as well as Atlantic, Burlington, and Cape May counties in New Jersey.
Univest's business is organized into three principal segments. The Banking segment provides checking and savings accounts, commercial and consumer loans, mortgage banking, municipal and nonprofit banking, equipment lease financing, treasury management, and other general financial services. Its customer base includes consumers, small and middle-market businesses, local governments, and nonprofit institutions. Relationship-based lending and deposit gathering are central to the company's community-bank strategy, while digital banking and financial technology support convenience and operating efficiency.
The Wealth Management segment provides investment advisory, brokerage, financial planning, trust administration, retirement-plan services, and fiduciary solutions. It serves private families, individuals, trusts, guardianships, municipal pension plans, retirement plans, and other institutions. This business can provide recurring fee income and deepen relationships with banking customers, although it is exposed to market levels, client asset values, investment flows, and regulatory requirements.
The Insurance segment offers commercial property and casualty coverage, employee benefits, personal insurance, and human resources consulting. Insurance broadens Univest's revenue base beyond interest-sensitive banking activities and gives business clients access to integrated risk-management services. Unlike a manufacturing company, Univest does not have a conventional bill of materials or physical product cost structure. Its principal inputs and costs include funding costs on deposits and borrowings, employee compensation, technology and cybersecurity spending, branch and occupancy expenses, professional services, credit-loss provisions, compliance costs, and insurance-service operating expenses.
The supplied data identifies approximately 960 full-time employees, placing the company in the 501-1000 employee category. The chief executive is Jeffrey M. Schweitzer, who also serves as chairman and chief executive officer of Univest Bank and Trust Co. The company reported approximately $8.2 billion in assets and $6.2 billion in assets under management and supervision in the supplied search results.
Selected trailing-twelve-month indicators from the supplied market data include revenue per share of approximately $18.79, net income per share of approximately $3.55, return on equity of approximately 10.4%, net profit margin of approximately 18.9%, price-to-earnings ratio of approximately 12.3, price-to-book ratio of approximately 1.25, and a dividend yield of approximately 2.1%. These figures are snapshot metrics and may change with market prices, quarterly results, interest rates, credit performance, and balance-sheet movements. Key strategic priorities for a regional bank such as Univest include maintaining asset quality, managing net interest margin and deposit costs, growing fee-based wealth and insurance revenue, investing in digital capabilities, serving local communities, and achieving disciplined growth while preserving capital and regulatory strength.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$518.3M
+3.6%
-2.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$90.8M
+19.5%
-15.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+61.0%
+4.1%
-1.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+21.9%
+14.8%
-12.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+17.5%
+15.4%
-13.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$96.9M
+34.6%
+13.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+18.7%
+30.0%
+16.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
37.3%
-20.6%
-17.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.08x
-8.1%
+12294.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning and welcome everyone to the Univest Financial Corporation second quarter 2026 earnings call. Today's conference is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press the star key followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. At this time, I would like to turn the conference over to Jeff Schweitzer, Chairman, President, and CEO of Univest Financial Corporation. Please go ahead.
Jeff Schweitzer: Thank you, Audra. Good morning and thank you to all of our listeners for joining us. Joining me on the call this morning is Mike Keim, our Chief Operating Officer and President of Univest Bank and Trust, and Brian Richardson, our Chief Financial Officer. Before we begin, I would like to remind everyone of the forward-looking statements disclaimer. Please be advised that during the course of this conference call, management may make forward-looking statements that express management's intentions, beliefs, or expectations within the meaning of the federal securities laws. Univest's actual results may differ materially from those contemplated by these forward-looking statements. I will refer you to the forward-looking cautionary statements in our earnings release and in our SEC filings. Hopefully, everyone had a chance to review our earnings release from yesterday. If not, it can be found on our website at univest.net under the investor relations tab. We had a solid second quarter as we reported net income of $23 million, or $0.82 per share, which was an 18.8% increase compared to earnings per share in Q2 of 2025. Our results for the quarter were impacted by a $5.2 million valuation adjustment on an OREO property due to an updated appraisal, which impacted earnings per share for the quarter by $0.15. Excluding this adjustment, our core operating results for the quarter were strong. Loan growth for the quarter was solid as we grew loans by $101.7 million, or 6% annualized. Total deposits for the quarter increased to $119.2 million or 7.2% annualized. We continue to execute on our initiative to lower our loan-to-deposit ratio, which on average was 180 basis points lower year-to-date than through the first six months of 2025. We also continue to be active with respect to stock buybacks, buying back 425,539 shares of our stock during the quarter. Year-to-date, we have repurchased 776,677 shares. Before I pass it over to Brian, I would like to thank the entire Univest family for the great work they do every day and for their continued efforts serving our customers, communities, and each other. I'll now turn it over to Brian for further discussion on our results.
Brian Richardson: Thank you, Jeff, and thank you to everyone for joining us today. I would like to start by touching on three items from …
