Form 8-K

8-K — UNIVEST FINANCIAL Corp

Accession: 0000102212-26-000022

Filed: 2026-04-23

Period: 2026-04-22

CIK: 0000102212

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — uvsp-20260422.htm (Primary)

EX-99.1 (exhibit991earningsrelease3.htm)

GRAPHIC (logoa.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: uvsp-20260422.htm · Sequence: 1

uvsp-20260422

0000102212FALSE00001022122026-04-222026-04-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________________

FORM 8-K

_______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2026

_______________________

UNIVEST FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Pennsylvania 0-7617 23-1886144

(State or other jurisdiction (Commission (I.R.S. Employer

of incorporation) File Number) Identification No.)

14 North Main Street, Souderton, Pennsylvania 18964

(Address of principal executive office)(Zip Code)

Registrant’s telephone number, including area code (215) 721-2400

Not applicable

(Former name or former address, if changed since last report)

_______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2 (b))

☐ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4 (c))

Securities registered pursuant to Section 12(b) of the Act:

Title of class Trading Symbol Name of exchange on which registered

Common Stock, $5 par value UVSP The NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicated by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition

On April 22, 2026, Univest Financial Corporation (the “Corporation”), parent company of Univest Bank and Trust Co. (the "Bank"), issued a press release reporting 2026 first quarter earnings. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(a) Not applicable

(b) Not applicable

(d) Exhibits

Exhibit No. Description of Document

99.1

Press release issued by Univest Financial Corporation on April 22, 2026

104 The cover page from the Corporation's Form 8-K, formatted in Inline XBRL

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Univest Financial Corporation

By: /s/ Brian J. Richardson

Name: Brian J. Richardson

Title: Senior Executive Vice President,

Chief Financial Officer

April 23, 2026

EXHIBIT INDEX

Exhibit No. Description of Document

99.1

Press release issued by Univest Financial Corporation on April 22, 2026

104 The cover page from the Corporation's Form 8-K, formatted in Inline XBRL

EX-99.1

Filename: exhibit991earningsrelease3.htm · Sequence: 2

Document

Exhibit 99.1

NEWS

CONTACT: Brian J. Richardson

UNIVEST FINANCIAL CORPORATION

Chief Financial Officer

215-721-2446, richardsonb@univest.net

FOR IMMEDIATE RELEASE

UNIVEST FINANCIAL CORPORATION REPORTS FIRST QUARTER RESULTS

(24.7% increase in earnings per share compared to 2025 first quarter)

(4.5% increase in dividend)

SOUDERTON, Pa., April 22, 2026 - Univest Financial Corporation (“Univest” or the "Corporation") (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. (the "Bank") and its insurance, investments and equipment financing subsidiaries, announced net income for the quarter ended March 31, 2026 of $27.1 million, or $0.96 diluted earnings per share, compared to net income of $22.4 million, or $0.77 diluted earnings per share, for the quarter ended March 31, 2025.

Dividend

On April 22, 2026, Univest declared a quarterly cash dividend of $0.23 per share to be paid on May 20, 2026 to shareholders of record as of May 6, 2026, which represents an increase of $0.01 per share, or 4.5%. Univest had last increased its dividend by $0.01 per share in May 2025.

One-Time Items

The financial results for the quarter included tax-free bank owned life insurance ("BOLI") death benefit proceeds of $372 thousand, which represented $0.01 diluted earnings per share. In addition, the financial results for the quarter included a $427 thousand restructuring charge ($337 thousand after-tax), or $0.01 diluted earnings per share, related to the planned closure of two underutilized facilities: a financial center and a limited purpose banking office.

Loans

Gross loans and leases increased $25.4 million, or 0.4% (1.6% annualized), from December 31, 2025, primarily due to increases in commercial and commercial real estate loans, partially offset by decreases

in construction and residential mortgage loans. Gross loans and leases increased $107.2 million, or 1.6%, from March 31, 2025, driven primarily by growth in construction, commercial, commercial real estate, and home equity loans. This growth was partially offset by a decline in residential mortgage loans, which is consistent with our strategy to focus balance sheet growth on full-relationship customers which will improve our loan-to-deposit ratio.

Deposits and Liquidity

Total deposits decreased $273.6 million, or 3.9% (15.6% annualized), from December 31, 2025 due to decreases in commercial, consumer, brokered deposits, and public funds, primarily reflecting seasonal public funds runoff during the quarter. Total deposits increased $155.3 million, or 2.3%, from March 31, 2025, primarily due to an increase in commercial deposits, partially offset by decreases in consumer, brokered and public funds deposits.

Noninterest-bearing deposits totaled $1.5 billion and represented 21.7% of total deposits at March 31, 2026, compared to $1.4 billion representing 20.2% of total deposits at December 31, 2025. Unprotected deposits, which excludes insured, internal, and collateralized deposit accounts, totaled $1.6 billion at March 31, 2026 and December 31, 2025. This represented 23.7% of total deposits at March 31, 2026, compared to 23.2% at December 31, 2025.

As of March 31, 2026, the Corporation and its subsidiaries held cash and cash equivalents totaling $222.4 million. The Corporation and its subsidiaries had committed borrowing capacity of $3.7 billion, of which $2.4 billion was available. The Corporation and its subsidiaries also maintained uncommitted funding sources from correspondent banks of $472.0 million at March 31, 2026. Future availability under these uncommitted funding sources is subject to the prerogatives of the granting banks and may be withdrawn at will.

Net Interest Income and Margin

Net interest income of $63.4 million for the first quarter of 2026 increased $6.6 million, or 11.6%, from the first quarter of 2025 and $816 thousand, or 1.3%, from the fourth quarter of 2025. The increase in net interest income for the first quarter of 2026 compared to the first quarter of 2025 was driven by higher average balances of loans and cash and cash equivalents, as well as a reduction in our cost of funds offset by higher average balances of interest‑bearing liabilities. The increase in net interest income for the first quarter of 2026 compared to the fourth quarter of 2025 was primarily driven by the lower average balances and reduced costs of interest‑bearing liabilities, partially offset by lower average balances and reduced yields on interest-earning deposits with other banks.

Net interest margin, on a tax-equivalent basis, was 3.33% for the first quarter of 2026, compared to 3.10% for the fourth quarter of 2025 and 3.09% for the first quarter of 2025. Excess liquidity reduced net interest margin by approximately 11 basis points for the quarter ended March 31, 2026 compared to approximately 27 basis points for the quarter ended December 31, 2025 and approximately three basis points for the quarter ended March 31, 2025. Excluding the impact of excess liquidity, the net interest margin, on a tax-equivalent basis, would have been 3.44% for the quarter ended March 31, 2026 compared to 3.37% for the fourth quarter of 2025 and 3.12% for the quarter ended March 31, 2025.

Noninterest Income

Noninterest income for the quarter ended March 31, 2026 was $24.1 million, an increase of $1.7 million, or 7.5%, from the comparable period in the prior year.

Other income increased $587 thousand, or 239.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. Fees on risk participation agreements for interest rate swaps increased $219 thousand due to increased demand. Additionally, income on other real estate owned for the three months ended March 31, 2025 included a one-time expense of $254 thousand related to building repairs.

Investment advisory commission and fee income increased $541 thousand, or 9.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, driven by appreciation in assets under management and new customer relationships.

Insurance commission and fee income increased $534 thousand, or 7.8%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to an increase of $342 thousand in premiums on commercial lines. Additionally, contingent income increased $194 thousand for the quarter, from $1.6 million for the three months ended March 31, 2025 to $1.8 million for the three months ended March 31, 2026. Contingent income is largely recognized in the first quarter of the year.

Other service fee income increased $334 thousand, or 12.3%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. This was driven by a $284 thousand decrease in the valuation allowance on servicing rights in the first quarter of 2026 compared to a $19 thousand increase in the first quarter of 2025.

Net gain on mortgage banking activities increased $144 thousand, or 22.3%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to increased salable volume.

BOLI income decreased $627 thousand, or 32.0%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. The financial results for the three months ended March 31, 2026 included $372 thousand in BOLI death benefit proceeds compared to $1.0 million for the three months ended March 31, 2025.

Noninterest Expense

Noninterest expense for the quarter ended March 31, 2026 was $52.7 million, an increase of $3.3 million, or 6.8%, from the comparable period in the prior year.

Salaries, benefits and commissions increased $2.6 million, or 8.5%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily driven by higher salary expense of $1.3 million. Additionally, medical claims expense increased by $753 thousand, or 48.8%. The Corporation maintains a self-insured medical plan and is responsible for claim costs up to the stop loss limit. This results in expense volatility based on the timing and magnitude of claims.

Restructuring charges increased $427 thousand for the quarter ended March 31, 2026 compared to the comparable period in the prior year as previously discussed.

Marketing and advertising expense increased $281 thousand, or 79.6%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year. This increase was primarily driven by the inclusion of certain sponsorship activities that were historically reported in Other Expense and the Corporation's entry into a sponsorship agreement with a local university, enhancing community engagement and visibility.

Professional fees decreased $120 thousand, or 6.7%, for the quarter ended March 31, 2026 compared to the comparable period in the prior year, primarily due to reduced consultant fees.

Tax Provision

The effective income tax rate was 19.1% and 18.7% for the quarters ended March 31, 2026 and March 31, 2025, respectively. The discrete tax effect of vested equity compensation awards favorably impacted the first quarters of 2026 and 2025 by 132 and 71 basis points, respectively. Additionally, the effective tax rates for the three months ended March 31, 2026 and 2025 were favorably impacted by 21 and 73 basis points, respectively, from the proceeds of BOLI death benefit proceeds. Excluding the discrete impact of vested equity compensation awards and BOLI death benefit proceeds, the effective tax rate was 20.6% for the three months ended March 31, 2026 compared to 20.2% for the three months ended March 31, 2025.

Asset Quality and Provision for Credit Losses

Nonperforming assets totaled $41.2 million at March 31, 2026, $37.8 million at December 31, 2025, and $34.0 million at March 31, 2025. During the first quarter, a $3.9 million commercial real estate loan and a $1.0 million residential real estate loan secured for business purpose were placed on nonaccrual status. Subsequent to their nonaccrual designation, these loans incurred charge-offs totaling $652 thousand and were transferred to held-for-sale status.

Net loan and lease charge-offs were $1.3 million for the three months ended March 31, 2026 compared to $1.1 million and $1.7 million for the three months ended December 31, 2025 and March 31, 2025, respectively.

The provision for credit losses was $1.3 million for the three months ended March 31, 2026 compared to $3.1 million and $2.3 million for the three months ended December 31, 2025 and March 31, 2025, respectively. The allowance for credit losses on loans and leases as a percentage of loans and leases held for investment was 1.28% at March 31, 2026, December 31, 2025, and March 31, 2025.

Share Repurchases

During the quarter ended March 31, 2026, the Corporation repurchased 351,138 shares of common stock at an average price of $33.70 per share. Including brokerage fees and excise tax, the average cost per share was $34.07. As of March 31, 2026, 1,919,799 shares are available for repurchase under the Share Repurchase Plan.

Conference Call

Univest will host a conference call to discuss first quarter 2026 results on Thursday, April 23, 2026 at 9:00 a.m. EDT. Participants may preregister at https://registrations.events/direct/Q4I46085961. The general public can access the call by dialing 1-800-715-9871; referencing Access Code 46085 or "Univest Financial Corporation First Quarter 2026 Earnings Call" to the operator. A replay of the conference call will be available through April 30, 2026 using the following link: https://registrations.events/direct/Q4I46085961.

About Univest Financial Corporation

Univest Financial Corporation (UVSP), including its wholly-owned subsidiary Univest Bank and Trust Co., Member FDIC, has approximately $8.1 billion in assets and $5.8 billion in assets under management and supervision through its Wealth Management lines of business at March 31, 2026. Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations primarily in the Mid-Atlantic Region. Univest delivers these services through a network of more than 50 offices and online at www.univest.net.

# # #

This press release and the reports Univest files with the Securities and Exchange Commission often contain "forward-looking statements" relating to trends or factors affecting the financial services industry and, specifically, the financial condition and results of operations, business, prospects and strategies of Univest. These forward-looking statements involve certain risks and

uncertainties in that there are a number of important factors that could cause Univest's future financial condition, results of operations, business, prospects or strategies to differ materially from those expressed or implied by the forward-looking statements. These factors include, but are not limited to: (1) competition and demand for financial services in our market area; (2) inflation and/or changes in interest rates, which may adversely impact our margins and yields, reduce the fair value of our financial instruments, reduce our loan originations and/or lead to higher operating costs and higher costs we pay to retain and attract deposits; (3) changes in asset quality, prepayment speeds, loan sale volumes, charge-offs and/or credit loss provisions; (4) fluctuations in real estate values and both residential and commercial real estate market conditions; (5) changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; (6) our ability to access cost-effective funding; (7) changes in economic conditions nationally and in our market, including potential recessionary conditions and the levels of unemployment in our market area; (8) changes in the economic assumptions or methodology used to calculate our allowance for credit losses; (9) legislative, regulatory, accounting or tax changes; (10) monetary and fiscal policies of the U.S. government, including the policies of the Board of Governors of the Federal Reserve System; (11) the effectiveness of our risk management processes and procedures; (12) the ability to maintain and increase market share and control expenses; (13) the imposition of tariffs or other domestic or international governmental policies and retaliatory responses; (14) the impact of a potential government shutdown; (15) the failure to maintain current technologies and to successfully implement future information technology enhancements; (16) technological issues that may adversely affect our operations or those of our customers; (17) a failure or breach in our operational or security systems or infrastructure, including cyberattacks; (18) changes in the securities markets; (19) the current or anticipated impact of military conflict, terrorism or other geopolitical events; (20) our ability to enter into new markets successfully and capitalize on growth opportunities; (21) changes in investor sentiment or consumer spending or savings behavior; and/or (22) risk factors mentioned in the reports and registration statements Univest files with the Securities and Exchange Commission.

(UVSP - ER)

Univest Financial Corporation

Consolidated Selected Financial Data (Unaudited)

March 31, 2026

(Dollars in thousands)

Balance Sheet (Period End) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

ASSETS

Cash and due from banks $ 69,645 $ 63,579 $ 70,843 $ 76,624 $ 73,319

Interest-earning deposits with other banks 152,712 490,133 745,896 83,741 95,815

Cash and cash equivalents 222,357 553,712 816,739 160,365 169,134

Investment securities held-to-maturity 119,490 123,024 126,040 128,455 130,889

Investment securities available for sale, net of allowance for credit losses 379,028 371,251 368,393 366,421 364,503

Investments in equity securities 2,898 2,014 2,413 1,801 1,667

Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost 35,511 37,808 39,617 36,482 35,732

Loans held for sale 14,371 15,288 6,330 17,774 13,150

Loans and leases held for investment 6,940,212 6,914,804 6,785,482 6,801,185 6,833,037

Less: Allowance for credit losses, loans and leases (88,900) (88,165) (86,527) (86,989) (87,790)

Net loans and leases held for investment 6,851,312 6,826,639 6,698,955 6,714,196 6,745,247

Premises and equipment, net 44,774 45,554 46,245 47,140 47,175

Operating lease right-of-use assets 25,032 25,795 26,536 27,278 27,182

Goodwill 175,510 175,510 175,510 175,510 175,510

Other intangibles, net of accumulated amortization 7,583 7,328 7,537 7,967 8,061

Bank owned life insurance 142,141 140,001 139,044 140,086 139,482

Accrued interest and other assets 121,575 112,973 120,257 115,581 117,435

Total assets $ 8,141,582 $ 8,436,897 $ 8,573,616 $ 7,939,056 $ 7,975,167

LIABILITIES

Noninterest-bearing deposits $ 1,475,851 $ 1,431,974 $ 1,390,565 $ 1,461,189 $ 1,433,995

Interest-bearing deposits: 5,337,912 5,655,339 5,827,578 5,121,471 5,224,503

Total deposits 6,813,763 7,087,313 7,218,143 6,582,660 6,658,498

Short-term borrowings 26,156 24,411 11,951 6,271 4,031

Long-term debt 175,000 200,000 200,000 200,000 175,000

Subordinated notes 98,908 98,867 129,597 149,511 149,386

Operating lease liabilities 27,699 28,531 29,310 30,106 30,062

Accrued expenses and other liabilities 48,106 54,457 51,396 53,775 54,718

Total liabilities 7,189,632 7,493,579 7,640,397 7,022,323 7,071,695

SHAREHOLDERS' EQUITY

Common stock, $5 par value: 48,000,000 shares authorized and 31,556,799 shares issued 157,784 157,784 157,784 157,784 157,784

Additional paid-in capital 301,154 304,021 302,696 301,640 300,634

Retained earnings 611,771 591,202 574,715 555,403 541,776

Accumulated other comprehensive loss, net of tax benefit (25,951) (25,467) (31,636) (34,969) (37,922)

Treasury stock, at cost (92,808) (84,222) (70,340) (63,125) (58,800)

Total shareholders’ equity 951,950 943,318 933,219 916,733 903,472

Total liabilities and shareholders’ equity $ 8,141,582 $ 8,436,897 $ 8,573,616 $ 7,939,056 $ 7,975,167

For the three months ended,

Balance Sheet (Average) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Assets $ 8,250,766 $ 8,528,465 $ 8,191,010 $ 7,979,475 $ 7,981,043

Investment securities, net of allowance for credit losses 499,078 497,201 492,197 497,214 500,078

Loans and leases, gross 6,939,600 6,848,654 6,790,827 6,846,938 6,856,503

Deposits 6,891,928 7,165,437 6,836,043 6,633,250 6,617,653

Shareholders' equity 949,509 936,417 923,454 908,536 896,811

Univest Financial Corporation

Consolidated Summary of Loans by Type and Asset Quality Data (Unaudited)

March 31, 2026

(Dollars in thousands)

Summary of Major Loan and Lease Categories (Period End) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Commercial, financial and agricultural $ 1,038,947 $ 1,027,434 $ 996,612 $ 1,052,246 $ 1,034,361

Real estate-commercial 3,656,779 3,621,536 3,517,803 3,485,615 3,546,402

Real estate-construction 299,962 306,793 309,365 302,424 281,785

Real estate-residential secured for business purpose 556,040 554,178 545,191 535,210 536,082

Real estate-residential secured for personal purpose 942,054 959,610 974,395 984,166 992,767

Real estate-home equity secured for personal purpose 201,244 200,394 197,503 195,014 189,119

Loans to individuals 12,319 12,793 13,447 14,069 16,930

Lease financings 232,867 232,066 231,166 232,441 235,591

Total loans and leases held for investment, net of deferred income 6,940,212 6,914,804 6,785,482 6,801,185 6,833,037

Less: Allowance for credit losses, loans and leases (88,900) (88,165) (86,527) (86,989) (87,790)

Net loans and leases held for investment $ 6,851,312 $ 6,826,639 $ 6,698,955 $ 6,714,196 $ 6,745,247

Asset Quality Data (Period End) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Nonaccrual loans and leases $ 13,289 $ 13,743 $ 27,330 $ 27,909 $ 11,126

Accruing loans and leases 90 days or more past due 3,750 89 829 125 322

Total nonperforming loans and leases 17,039 13,832 28,159 28,034 11,448

Other real estate owned 24,073 23,926 23,926 22,471 22,433

Repossessed assets 124 65 40 80 79

Total nonperforming assets $ 41,236 $ 37,823 $ 52,125 $ 50,585 $ 33,960

Nonaccrual loans and leases / Loans and leases held for investment 0.19 % 0.20 % 0.40 % 0.41 % 0.16 %

Nonperforming loans and leases / Loans and leases held for investment 0.25 % 0.20 % 0.41 % 0.41 % 0.17 %

Nonperforming assets / Total assets 0.51 % 0.45 % 0.61 % 0.64 % 0.43 %

Allowance for credit losses, loans and leases $ 88,900 $ 88,165 $ 86,527 $ 86,989 $ 87,790

Allowance for credit losses, loans and leases / Loans and leases held for investment 1.28 % 1.28 % 1.28 % 1.28 % 1.28 %

Allowance for credit losses, loans and leases / Nonaccrual loans and leases 668.97 % 641.53 % 316.60 % 311.69 % 789.05 %

Allowance for credit losses, loans and leases / Nonperforming loans and leases 521.74 % 637.40 % 307.28 % 310.30 % 766.86 %

For the three months ended,

3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Net loan and lease charge-offs $ 1,263 $ 1,145 $ 480 $ 7,807 $ 1,686

Net loan and lease charge-offs (annualized)/Average loans and leases 0.07 % 0.07 % 0.03 % 0.46 % 0.10 %

Univest Financial Corporation

Consolidated Selected Financial Data (Unaudited)

March 31, 2026

(Dollars in thousands, except per share data)

For the three months ended,

For the period: 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Interest income $ 106,351 $ 111,716 $ 109,648 $ 105,706 $ 103,416

Interest expense 42,986 49,167 48,324 46,165 46,635

Net interest income 63,365 62,549 61,324 59,541 56,781

Provision for credit losses 1,303 3,145 517 5,694 2,311

Net interest income after provision for credit losses 62,062 59,404 60,807 53,847 54,470

Noninterest income:

Trust fee income 2,236 2,316 2,230 2,146 2,161

Service charges on deposit accounts 2,279 2,237 2,302 2,258 2,194

Investment advisory commission and fee income 6,154 6,055 5,671 5,460 5,613

Insurance commission and fee income 7,423 4,825 5,468 5,261 6,889

Other service fee income 3,041 2,668 2,416 3,147 2,707

Bank owned life insurance income 1,332 970 1,908 1,012 1,959

Net gain on mortgage banking activities 791 886 848 981 647

Other income 832 2,065 1,080 1,236 245

Total noninterest income 24,088 22,022 21,923 21,501 22,415

Noninterest expense:

Salaries, benefits and commissions 33,459 33,009 31,652 31,536 30,826

Net occupancy 2,998 2,882 2,675 2,739 2,853

Equipment 1,079 1,052 1,076 1,043 1,122

Data processing 4,480 4,390 4,263 4,408 4,364

Professional fees 1,677 1,947 1,876 1,597 1,797

Marketing and advertising 634 479 323 498 353

Deposit insurance premiums 1,170 1,106 1,195 1,074 1,151

Intangible expenses 93 102 106 131 130

Restructuring charges 427 — — — —

Other expense 6,652 7,743 7,503 7,306 6,732

Total noninterest expense 52,669 52,710 50,669 50,332 49,328

Income before taxes 33,481 28,716 32,061 25,016 27,557

Income tax expense 6,389 5,971 6,422 5,038 5,162

Net income $ 27,092 $ 22,745 $ 25,639 $ 19,978 $ 22,395

Net income per share:

Basic $ 0.97 $ 0.80 $ 0.89 $ 0.69 $ 0.77

Diluted $ 0.96 $ 0.79 $ 0.89 $ 0.69 $ 0.77

Dividends declared per share $ 0.22 $ 0.22 $ 0.22 $ 0.22 $ 0.21

Weighted average shares outstanding 28,032,897 28,376,191 28,716,582 28,859,348 29,000,567

Period end shares outstanding 27,949,173 28,156,917 28,576,346 28,810,805 28,962,648

Univest Financial Corporation

Consolidated Selected Financial Data (Unaudited)

March 31, 2026

For the three months ended,

Profitability Ratios (annualized) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Return on average assets 1.33 % 1.06 % 1.24 % 1.00 % 1.14 %

Return on average assets, excluding restructuring charges (1) 1.35 % 1.06 % 1.24 % 1.00 % 1.14 %

Return on average shareholders' equity 11.57 % 9.64 % 11.02 % 8.82 % 10.13 %

Return on average shareholder's equity, excluding restructuring charges (1) 11.72 % 9.64 % 11.02 % 8.82 % 10.13 %

Return on average tangible common equity (1)(3) 14.27 % 11.93 % 13.68 % 11.02 % 12.69 %

Return on average tangible common equity, excluding restructuring charges (1)(3) 14.45 % 11.93 % 13.68 % 11.02 % 12.69 %

Net interest margin (FTE) 3.33 % 3.10 % 3.17 % 3.20 % 3.09 %

Efficiency ratio (2) 59.7 % 61.8 % 60.2 % 61.6 % 61.6 %

Capitalization Ratios

Dividends declared to net income 22.8 % 27.5 % 24.7 % 31.8 % 27.2 %

Shareholders' equity to assets (Period End) 11.69 % 11.18 % 10.88 % 11.55 % 11.33 %

Tangible common equity to tangible assets (1) 9.72 % 9.27 % 9.00 % 9.52 % 9.31 %

Common equity book value per share $ 34.06 $ 33.50 $ 32.66 $ 31.82 $ 31.19

Tangible common equity book value per share (1) $ 27.71 $ 27.20 $ 26.45 $ 25.66 $ 25.06

Regulatory Capital Ratios (Period End)

Tier 1 leverage ratio 9.95 % 9.51 % 9.85 % 9.94 % 9.80 %

Common equity tier 1 risk-based capital ratio 11.32 % 11.22 % 11.40 % 11.19 % 10.97 %

Tier 1 risk-based capital ratio 11.32 % 11.22 % 11.40 % 11.19 % 10.97 %

Total risk-based capital ratio 13.95 % 13.86 % 14.28 % 14.58 % 14.35 %

(1) Non-GAAP metric. A reconciliation of this and other non-GAAP financial measures is included at the end of this document.

(2) Noninterest expense to net interest income before loan loss provision plus noninterest income adjusted for tax equivalent income.

(3) Net income before amortization of intangibles to average tangible common equity.

Univest Financial Corporation

Average Balances and Interest Rates (Unaudited)

For the Three Months Ended,

Tax Equivalent Basis March 31, 2026 December 31, 2025

Average Income/ Average Average Income/ Average

(Dollars in thousands) Balance Expense Rate Balance Expense Rate

Assets:

Interest-earning deposits with other banks $ 306,797 $ 2,810 3.71 % $ 680,052 $ 6,808 3.97 %

Other debt and equity securities 499,078 4,053 3.29 497,201 4,021 3.21

Federal Home Loan Bank, Federal Reserve Bank and other stock 37,286 704 7.66 38,894 754 7.69

Total interest-earning deposits, investments and other interest-earning assets 843,161 7,567 3.64 1,216,147 11,583 3.78

Commercial, financial, and agricultural loans 959,673 15,331 6.48 939,461 15,900 6.71

Real estate—commercial and construction loans 3,861,156 55,796 5.86 3,781,248 56,163 5.89

Real estate—residential loans 1,710,239 21,526 5.10 1,716,569 21,967 5.08

Loans to individuals 12,396 273 8.93 13,023 297 9.08

Tax-exempt loans and leases 223,166 3,116 5.66 225,707 3,091 5.43

Lease financings 172,970 3,212 7.53 172,646 3,158 7.26

Gross loans and leases 6,939,600 99,254 5.80 6,848,654 100,576 5.83

Total interest-earning assets 7,782,761 106,821 5.57 8,064,801 112,159 5.52

Cash and due from banks 57,980 56,000

Allowance for credit losses, loans and leases (88,832) (87,615)

Premises and equipment, net 45,359 46,062

Operating lease right-of-use assets 25,414 26,153

Other assets 428,084 423,064

Total assets $ 8,250,766 $ 8,528,465

Liabilities:

Interest-bearing checking deposits $ 1,280,570 $ 7,722 2.45 % $ 1,389,619 $ 9,175 2.62 %

Money market savings 2,045,306 16,918 3.35 2,168,721 19,679 3.60

Regular savings 765,296 1,372 0.73 754,027 1,444 0.76

Time deposits 1,389,144 13,130 3.83 1,441,199 14,371 3.96

Total time and interest-bearing deposits 5,480,316 39,142 2.90 5,753,566 44,669 3.08

Short-term borrowings 25,578 3 0.05 21,490 3 0.06

Long-term debt 201,389 2,093 4.21 200,000 2,144 4.25

Subordinated notes 98,897 1,748 7.17 120,764 2,351 7.72

Total borrowings 325,864 3,844 4.78 342,254 4,498 5.21

Total interest-bearing liabilities 5,806,180 42,986 3.00 6,095,820 49,167 3.20

Noninterest-bearing deposits 1,411,612 1,411,871

Operating lease liabilities 28,116 28,902

Accrued expenses and other liabilities 55,349 55,455

Total liabilities 7,301,257 7,592,048

Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") 7,217,792 2.42 7,507,691 2.60

Shareholders' Equity:

Common stock 157,784 157,784

Additional paid-in capital 303,413 303,235

Retained earnings and other equity 488,312 475,398

Total shareholders' equity 949,509 936,417

Total liabilities and shareholders' equity $ 8,250,766 $ 8,528,465

Net interest income $ 63,835 $ 62,992

Net interest spread 2.57 2.32

Effect of net interest-free funding sources 0.76 0.78

Net interest margin 3.33 % 3.10 %

Ratio of average interest-earning assets to average interest-bearing liabilities 134.04 % 132.30 %

*Obligations of states and political subdivisions are tax-exempt earning assets.

Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.

Net interest income includes net deferred costs amortization of $793 thousand and $559 thousand for the three months ended March 31, 2026 and December 31, 2025, respectively.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances.

Tax-equivalent amounts for the three months ended March 31, 2026 and December 31, 2025 have been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation

Average Balances and Interest Rates (Unaudited)

For the Three Months Ended March 31,

Tax Equivalent Basis 2026 2025

Average Income/ Average Average Income/ Average

(Dollars in thousands) Balance Expense Rate Balance Expense Rate

Assets:

Interest-earning deposits with other banks $ 306,797 $ 2,810 3.71 % $ 119,997 $ 1,360 4.60 %

Obligations of state and political subdivisions* — — — 879 4 1.85

Other debt and equity securities 499,078 4,053 3.29 499,199 4,019 3.27

Federal Home Loan Bank, Federal Reserve Bank and other stock 37,286 704 7.66 37,561 687 7.42

Total interest-earning deposits, investments and other interest-earning assets 843,161 7,567 3.64 657,636 6,070 3.74

Commercial, financial, and agricultural loans 959,673 15,331 6.48 990,860 17,020 6.97

Real estate—commercial and construction loans 3,861,156 55,796 5.86 3,704,232 52,676 5.77

Real estate—residential loans 1,710,239 21,526 5.10 1,729,146 21,542 5.05

Loans to individuals 12,396 273 8.93 19,438 393 8.20

Tax-exempt loans and leases 223,166 3,116 5.66 230,133 2,861 5.04

Lease financings 172,970 3,212 7.53 182,694 3,240 7.19

Gross loans and leases 6,939,600 99,254 5.80 6,856,503 97,732 5.78

Total interest-earning assets 7,782,761 106,821 5.57 7,514,139 103,802 5.60

Cash and due from banks 57,980 56,690

Allowance for credit losses, loans and leases (88,832) (87,822)

Premises and equipment, net 45,359 46,852

Operating lease right-of-use assets 25,414 27,761

Other assets 428,084 423,423

Total assets $ 8,250,766 $ 7,981,043

Liabilities:

Interest-bearing checking deposits $ 1,280,570 $ 7,722 2.45 % $ 1,222,012 $ 7,075 2.35 %

Money market savings 2,045,306 16,918 3.35 1,840,194 18,035 3.97

Regular savings 765,296 1,372 0.73 702,543 763 0.44

Time deposits 1,389,144 13,130 3.83 1,476,495 16,106 4.42

Total time and interest-bearing deposits 5,480,316 39,142 2.90 5,241,244 41,979 3.25

Short-term borrowings 25,578 3 0.05 6,909 14 0.82

Long-term debt 201,389 2,093 4.21 217,500 2,361 4.40

Subordinated notes 98,897 1,748 7.17 149,319 2,281 6.20

Total borrowings 325,864 3,844 4.78 373,728 4,656 5.05

Total interest-bearing liabilities 5,806,180 42,986 3.00 5,614,972 46,635 3.37

Noninterest-bearing deposits 1,411,612 1,376,409

Operating lease liabilities 28,116 30,675

Accrued expenses and other liabilities 55,349 62,176

Total liabilities 7,301,257 7,084,232

Total interest-bearing liabilities and noninterest-bearing deposits ("Cost of Funds") 7,217,792 2.42 6,991,381 2.71

Shareholders' Equity:

Common stock 157,784 157,784

Additional paid-in capital 303,413 302,653

Retained earnings and other equity 488,312 436,374

Total shareholders' equity 949,509 896,811

Total liabilities and shareholders' equity $ 8,250,766 $ 7,981,043

Net interest income $ 63,835 $ 57,167

Net interest spread 2.57 2.23

Effect of net interest-free funding sources 0.76 0.86

Net interest margin 3.33 % 3.09 %

Ratio of average interest-earning assets to average interest-bearing liabilities 134.04 % 133.82 %

*Obligations of states and political subdivisions are tax-exempt earning assets.

Notes: For rate calculation purposes, average loan and lease categories include deferred fees and costs and purchase accounting adjustments.

Net interest income includes net deferred costs amortization of $793 thousand and $554 thousand for the three months ended March 31, 2026 and 2025, respectively.

Nonaccrual loans and leases have been included in the average loan and lease balances. Loans held for sale have been included in the average loan balances.

Tax-equivalent amounts for the three months ended March 31, 2026 and 2025 have been calculated using the Corporation’s federal applicable rate of 21.0%.

Univest Financial Corporation

Loan Portfolio Overview (Unaudited)

March 31, 2026

(Dollars in thousands)

Industry Description Total Outstanding Balance % of Commercial Loan Portfolio

Animal Production $ 432,795 7.8 %

CRE - Retail 428,107 7.7

CRE - Multi-family 389,616 7.0

CRE - 1-4 Family Residential Investment 276,464 5.0

Hotels & Motels (Accommodation) 268,311 4.8

CRE - Office 255,519 4.6

CRE - Industrial / Warehouse 221,472 4.0

Specialty Trade Contractors 212,762 3.8

Nursing and Residential Care Facilities 163,252 2.9

Homebuilding (tract developers, remodelers) 149,383 2.7

Crop Production 136,365 2.5

Merchant Wholesalers, Durable Goods 132,459 2.4

Repair and Maintenance 128,533 2.3

CRE - Mixed-Use - Commercial 120,441 2.2

Motor Vehicle and Parts Dealers 119,414 2.2

CRE - Mixed-Use - Residential 109,227 2.0

Nondepository Credit Intermediation and Related Activities (except 5221) 104,189 1.9

Wood Product Manufacturing 103,621 1.9

Administrative and Support Services 97,371 1.8

Food Services and Drinking Places 90,711 1.6

Professional, Scientific, and Technical Services 90,018 1.6

Education 82,622 1.5

Merchant Wholesalers, Nondurable Goods 81,088 1.5

Fabricated Metal Product Manufacturing 78,283 1.4

Amusement, Gambling, and Recreation Industries 75,792 1.4

Personal and Laundry Services 64,254 1.2

Food Manufacturing 63,358 1.1

Miniwarehouse / Self-Storage 63,051 1.1

Religious Organizations, Advocacy Groups 62,815 1.1

Private Equity & Special Purpose Entities (except 52592) 56,916 1.0

Machinery Manufacturing 56,210 1.0

Industries with >$50 million in outstandings $ 4,714,419 84.9 %

Industries with <$50 million in outstandings $ 837,309 15.1 %

Total Commercial Loans $ 5,551,728 100.0 %

Consumer Loans and Lease Financings Total Outstanding Balance

Real Estate-Residential Secured for Personal Purpose $ 942,054

Real Estate-Home Equity Secured for Personal Purpose 201,244

Loans to Individuals 12,319

Lease Financings 232,867

Total Consumer Loans and Lease Financings $ 1,388,484

Total $ 6,940,212

Univest Financial Corporation

Non-GAAP Reconciliation

March 31, 2026

Management uses non-GAAP measures in its analysis of the Corporation's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of the non-GAAP financial measures, which exclude the impact of the specified items, provides useful supplemental information that is essential to a proper understanding of the financial results of the Corporation. See the table below for additional information on non-GAAP measures used throughout this earnings release.

As of or for the three months ended,

(Dollars in thousands) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Restructuring charges (a) $ 427 $ — $ — $ — $ —

Tax effect of restructuring charges (90) — — — —

Restructuring charges, net of tax $ 337 $ — $ — $ — $ —

Net income $ 27,092 $ 22,745 $ 25,639 $ 19,978 $ 22,395

Amortization of intangibles, net of tax 73 81 84 103 103

Net income before amortization of intangibles $ 27,165 $ 22,826 $ 25,723 $ 20,081 $ 22,498

Shareholders' equity $ 951,950 $ 943,318 $ 933,219 $ 916,733 $ 903,472

Goodwill (175,510) (175,510) (175,510) (175,510) (175,510)

Other intangibles (b) (1,960) (1,919) (1,966) (2,040) (2,104)

Tangible common equity $ 774,480 $ 765,889 $ 755,743 $ 739,183 $ 725,858

Total assets $ 8,141,582 $ 8,436,897 $ 8,573,616 $ 7,939,056 $ 7,975,167

Goodwill (175,510) (175,510) (175,510) (175,510) (175,510)

Other intangibles (b) (1,960) (1,919) (1,966) (2,040) (2,104)

Tangible assets $ 7,964,112 $ 8,259,468 $ 8,396,140 $ 7,761,506 $ 7,797,553

Average shareholders' equity $ 949,509 $ 936,417 $ 923,454 $ 908,536 $ 896,811

Average goodwill (175,510) (175,510) (175,510) (175,510) (175,510)

Average other intangibles (b) (1,922) (1,935) (1,983) (2,068) (2,162)

Average tangible common equity $ 772,077 $ 758,972 $ 745,961 $ 730,958 $ 719,139

(a) Associated with planned closure of two underutilized facilities; a financial center and a limited purpose banking office

(b) Amount does not include mortgage servicing rights

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