Univest's news feed. 2012 http://www.univest.net Wed, 01 May 2013 00:00:00 EST Wed, 01 May 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa, May 1, 2013 - Univest Corporation of Pennsylvania (NASDAQ: UVSP) and its insurance subsidiary, Univest Insurance, Inc., today announced the acquisition of John T. Fretz Insurance Agency, Inc., a family-owned-and-operated full-service property and casualty insurance agency providing solutions to both personal and commercial clients. The acquisition, completed on May 1, 2013, expands Univest's insurance business and market share in the Corporation's primary service area - Montgomery County, Pa.   "Growth of the Univest Insurance business through acquisition is part of our long term strategy to diversify our business, giving consumers and businesses in the region convenient access to a complete range of financial solutions from one company," said William S. Aichele, chairman and CEO of Univest Corporation.  "For more than 75 years, the Fretz Agency has been a well-respected local company with an experienced team of professionals.  We are excited to welcome them to Univest and believe their contributions will further strengthen Univest's ability to serve the insurance needs of businesses and individuals in our communities."   The John T. Fretz Insurance Agency was founded in 1935 by John T. Fretz and is currently owned and operated by M. Scott Clemens, president and nephew of John T. Fretz.  The Fretz Agency, which operates offices in Souderton and Lansdale, Montgomery County, grew throughout its history organically by serving both personal and commercial insurance clients in its local markets and through strategic acquisitions.  The Fretz Agency has been recognized for excellence by the North Penn United Way and other local non-profit organizations for its active support of the community.  The agency has a solid reputation across the industry and has been an advocate for the independent insurance agency system as a Trusted Choice © independent insurance agency.   "While this is Univest's seventh insurance acquisition since 1999, this is only the second agency located in Univest's core market," stated Ronald R. Flaherty, president of Univest Insurance, Inc. "This acquisition will help to further identify Univest as a leader in delivering competitive and comprehensive insurance solutions.  And, the integration of our companies will be seamless for our employees and customers because we both believe in providing exceptional insurance solutions, excellent service and strong financial and volunteer support to our local communities."   Fretz Agency employees will join Univest as a result of the acquisition.  These employees will be located in Univest Insurance's Lansdale office and in a new location expected to open in Souderton later this summer.  The John T. Fretz Insurance Agency, Inc. will immediately begin operating under the name Univest Insurance, Inc.   About Univest Insurance, Inc. Univest Insurance, Inc., headquartered in Lansdale, Pa. is an independent insurance agency, providing property and casualty insurance, employee benefits, and life, health and disability insurance for individuals, businesses and nonprofit clients.  Univest Insurance also has offices in West Chester, Chester County and Upper Marlboro Township, MD.   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net .   This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2013/april/univest-corporation-expands-insurance-subsidiary-through-acquisition-of-john-t-fretz-insurance-agency,-inc/ http://www.univest.net/news/2013/april/univest-corporation-expands-insurance-subsidiary-through-acquisition-of-john-t-fretz-insurance-agency,-inc/ Wed, 01 May 2013 00:00:00 EST Univest Bank and Trust Co.   S OUDERTON,  Pa., April 29, 2013 - The Univest Foundation, a 501(c)(3) organization established in 2002, has named Barry L. Stoltzfus as the Foundation's executive director. The Foundation gives clients various charitable planning options including charitable gift annuities, donor advised funds and charitable remainder and lead trusts and can assist with family foundations. Stoltzfus is responsible for developing new relationships with potential clients - individuals and charitable organizations - and strengthening existing relationships.   Stoltzfus was one of the founders of the Foundation and served on its board of directors as chairman, treasurer and secretary.   The Univest Foundation assists clients with their charitable planning needs by accepting gifts of cash, securities, real estate, closely held business stocks and IRAs. The Foundation provides donors with giving options with immediate tax benefits that allow them to make their planned gifts while maintaining control of their giving wishes.   Kenneth D. Hochstetler, chairman of the Univest Foundation, said, "As executive director, Barry brings outstanding knowledge of the Univest Foundation's business and commitment to its success. He also has significant wealth management and financial planning experience, including earning the Certified Financial Planner designation."   In addition to his new responsibilities with Univest Foundation, Stoltzfus is executive vice president of Wealth Management and Planning Services for Univest Bank and Trust Co.  He also serves in various leadership roles on the boards of directors for local nonprofit organizations.  Stoltzfus currently serves as board chairman for Montgomery County Community College Foundation, past board chairman for Souderton-Telford Main Streets and as a board member for the Indian Valley Public Library.  Stoltzfus also is active in his hometown of Souderton where he serves as secretary and board member for the Souderton Borough Planning Commission.  http://www.univest.net/news/2013/april/univest-foundation-names-barry-l-stoltzfus-as-its-executive-director/ http://www.univest.net/news/2013/april/univest-foundation-names-barry-l-stoltzfus-as-its-executive-director/ Mon, 29 Apr 2013 00:00:00 EST Univest Bank and Trust Co. Senator Bob Mensch and Univest Employees Promote Financial Literacy in Area Schools Univest employees, Senator Bob Mensch and Mrs. Dawn Glowacki's second grade class participated in Teach Children to Save Day at Salford Hills Elementary School on April 23, 2013   SOUDERTON, Pa., April 24, 2013 - Univest Bank and Trust Co. participated in the 17 th annual Teach Children to Save Day on April 23, 2013, presenting to seven local schools and reaching nearly 500 students.  Univest bankers taught students financial skills through activities, interactive scenarios and sharing real-life experiences. The lessons included topics such as the basics of saving, how interest makes money grow, how to create a budget and how to distinguish needs from wants.   Senator Bob Mensch joined Univest presenters and Univest's eaglet mascots, Buck and Penny, at Salford  Hills Elementary School in Harleysville to present to three second grade  classes.  Other participating schools were: Corpus Christi (Lansdale), Doyle Elementary (Doylestown), Faith Christian Academy (Sellersville), Quakertown Christian School (Quakertown), St. Isidore School (Quakertown) and St. Mary Catholic School (Schwenksville).    Univest is committed to promoting financial literacy in the communities it serves.  Schools, libraries or other organizations that would like to invite Univest's speakers and/or eaglet mascots, Buck and Penny, to participate in a special event or community activity can contact Univest's corporate communications team at 215-721-2450.   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2013/april/univest-reaches-nearly-500-students-on-teach-children-to-save-day/ http://www.univest.net/news/2013/april/univest-reaches-nearly-500-students-on-teach-children-to-save-day/ Wed, 24 Apr 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., April 24, 2013 - Univest Corporation of Pennsylvania ("Univest") ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries today announced financial results for the first quarter ended March 31, 2013. Univest reported net income of $5.4 million or $0.32 diluted earnings per share for the quarter ended March 31, 2013, a 3% increase in net income compared to $5.3 million or $0.31 diluted earnings per share for the quarter ended March 31, 2012.   Loans Gross loans and leases increased $5.5  million from December 31, 2012 and $27.5 million from March 31, 2012. The  growth in loans from the previous consecutive quarter occurred primarily in commercial  loans, while the growth from the comparable quarter in the prior year occurred mainly  in residential mortgages and equipment financing. While Univest continued to  see increased loan activity during 2013, overall credit demand and utilization  of lines by businesses and consumers remained light as a result of the sluggish  economy.   Deposits Total deposits grew $84.6 million from March  31, 2012, primarily  due to an increase in demand deposits and new customers choosing Univest. Total  deposits declined $50.7 million from December 31, 2012, mainly due to a decrease  in public fund deposits of $38.9 million.   Net Interest Income and Margin Net interest income decreased $221 thousand or 1% to $17.9 million in the first quarter of 2013 compared to the first  quarter of 2012. The net interest margin on a tax-equivalent basis for the first  quarter of 2013 was 3.83%, compared to 3.80% during the fourth quarter of 2012 and  3.95% in the first quarter of 2012.   The declines in net interest income and net interest margin during the first quarter of 2013 from the comparable period  in the prior year were primarily due to the re-investment of maturing and called investment securities into lower yielding investments as a result of the lower interest rate environment and lower rates on commercial and residential real estate loans due to re-pricing and competitive pressures. The declines in net interest income and net interest margin were partially offset by favorable re-pricing of savings accounts and certificates of deposit.      Non-Interest Income Non-interest income for the quarter ended March 31, 2013 was $11.5 million, an increase of $454 thousand or 4% from the  comparable period in the prior year. Insurance commission and fee income was up $451 thousand primarily a result of the acquisition of Javers Group on May 31, 2012. Investment advisory commission and fee income was up $445 thousand, primarily due to a 16.3% increase in assets under supervision. The net gain on mortgage banking activities increased $424 thousand during the first quarter of 2013 over the same period in 2012 as refinance volume continues to be strong. Partially offsetting these favorable variances were proceeds from bank owned life insurance death benefits of $989 thousand recognized during the first quarter of 2012.   Non-Interest Expense Non-interest expense for the first quarter of 2013 was $20.2 million, an increase of $1.4 million or 7% compared to the first quarter of 2012. Commission expense increased $693 thousand in the first quarter of 2013 compared to the same period in the prior year mainly related to increased production activity and revenues generated in our mortgage banking, equipment finance, investment and insurance businesses. During the first quarter of 2013, Univest implemented a company-wide restructuring plan which reduced staffing levels by 3.4% and included the announced closure and consolidation of our Silverdale financial service center, effective May 2013, into our Hilltown and Perkasie locations. As a result, Univest recorded severance and fixed asset retirement expenses of $437 thousand and $102 thousand, respectively. The restructuring involved strategic changes to ensure we are effectively managing costs, improving efficiencies and evolving the business to meet the needs of all of our stakeholders.     Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $28.9 million at March 31, 2013 from $32.1 million at December 31, 2012 and $36.3 million at March 31, 2012. The decrease in non-accrual loans from December 31, 2012 was mainly due to the foreclosure of commercial loans for two borrower relationships totaling $1.7 million and loan charge-offs. Net loan and lease charge-offs were $1.6 million during the first quarter of 2013, down from $3.4 million for the first quarter of 2012.   Non-accrual loans and leases as a percentage of total loans and leases (held for investment and nonaccrual loans held for sale) were 1.94% at March 31, 2013, compared to 2.17% at December 31, 2012 and 2.48% at March 31, 2012. Other real estate owned was $3.6 million at March 31, 2013, compared to $1.6 million at December 31, 2012 and $5.0 million at March 31, 2012. The year-to-date increase was primarily due to the addition of commercial properties for $1.7 million, as previously discussed. Of the other real estate owned properties held at March 31, 2013, two locations with an associated carrying balance of $2.0 million are currently under agreements of sale.   The provision for loan and lease losses was $2.1 million for the first quarter of 2013, compared to $4.1 million for the quarter ended March 31, 2012. The decrease in the year-to-date provision was primarily the result of migration and resolution of loans through the loan workout process and a decrease in loss factors for commercial real estate loans. The allowance for loan and lease losses as a percentage of loans and leases held for investment was 1.70% at March 31, 2013, compared to 1.67% at December 31, 2012 and 2.10% at March 31, 2012. The allowance for loan and lease losses to nonaccrual loans and leases held for investment equaled 87.31% at March 31, 2013, compared to 77.01% at December 31, 2012 and 84.36% at March 31, 2012.    Capital Univest continues to remain well-capitalized at March 31, 2013. Total risk-based capital at March 31, 2013 was 15.37%, well in excess of the regulatory minimum for well capitalized status of 10%.   During the quarter, Univest  repurchased 61 thousand shares of common stock at a cost of $1.0 million under our Board approved stock repurchase program. Shares available for future repurchases under the plan totaled 481 thousand at March 31, 2013. Total shares outstanding at March 31, 2013 were 16,762,695.   Dividend On February 27, 2013, Univest declared a quarterly cash dividend of $0.20 per share, payable on April 1, 2013. This represented a 4.70% annualized yield based on the closing price of Univest's stock on the date the dividend was paid.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2013/april/univest-corporation-of-pennsylvania-univest-bank-and-trust-co℠-reports-first-quarter-earnings/ http://www.univest.net/news/2013/april/univest-corporation-of-pennsylvania-univest-bank-and-trust-co℠-reports-first-quarter-earnings/ Wed, 24 Apr 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., April 22, 2013 - Two Univest financial advisors will conduct a one-hour, live video web chat hosted by 6abc (WPVI-TV) and 6abc.com on Tuesday, April 30 from 4:00 to 5:00 p.m. During the web chat, viewers will be able to submit their questions about planning for retirement and wise investing on a 6abc.com chat page. The questions will be forwarded to the Univest advisors to answer.   The Univest participants in the web chat are William Van Sant, III, CFP ® , senior vice president and sales manager for Univest Investments, Inc., and Glen Reyburn ChFC ® , AEP ® , vice president and senior financial advisor for Univest Bank and Trust Co.'s Wealth Management & Trust Group. Van Sant is a Certified Financial Planner ® , holds FINRA (Financial Industry Regulatory Authority) licenses 7, 63, 24 and 51 as well as the Pennsylvania Life, Accident and Health Insurance license. Reyburn is an Accredited Estate Planner ® and a Chartered Financial Consultant ® .   Kenneth D. Hochstetler, president of Wealth Management for Univest Bank and Trust Co. and of Univest Investments, Inc., said, "Many consumers are concerned whether they have saved enough for retirement, especially during uncertain economic times. Common questions to ask include 'How do I plan for retirement?', 'When is the right time to get started?' and 'Will my pension plan and 401(k) be enough?' William and Glen will be prepared to answer these and any other retirement and financial planning questions. The web chat will also include helpful resources including a customizable retirement planning assessment tool ."   A complete transcript of the web chat will be available online after the program at 6abc.com and univest.net . If you are interested in learning more details about the presenters or submitting a question in advance of the live event, click here .   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.   Investments are offered through Univest Investments, Inc. member FINRA and SIPC, a licensed subsidiary of Univest Corporation of Pennsylvania.  They are not FDIC insured, are not a deposit of or bank guaranteed, and are subject to risks, including possible loss of principal amount invested.  http://www.univest.net/news/2013/april/univest-financial-advisors-to-hold-live-web-chat-on-6abccom-to-answer-viewers-questions-on-planning-for-retirement/ http://www.univest.net/news/2013/april/univest-financial-advisors-to-hold-live-web-chat-on-6abccom-to-answer-viewers-questions-on-planning-for-retirement/ Mon, 22 Apr 2013 00:00:00 EST Univest Bank and Trust Co.     SOUDERTON, Pa., March 28, 2013 - Univest Corporation awarded Quakertown Music Promoters Organization (QMPO) $1,000 as the winner of the Caring for the Arts Facebook contest.  As part of its Committed to Local philanthropic giving program, Univest hosts a contest four times each year through its Facebook page in which it asks community members to nominate local nonprofits that deserve financial assistance.  Through the Caring for the Arts Giveaway, Univest asked the community to vote for a  deserving, local, nonprofit, arts organization.  QMPO, which strives to enrich the music experience of students in the Quakertown Community School District, was selected as the winner after receiving the most posts on its behalf.   "We are so excited to have won Univest's Facebook contest.  It is a testament to the dedication of our students, parents and community members that we received the most votes," said Karen Quinn on behalf of the QMPO executive board.  "We thank Univest for the opportunity to earn the $1,000.  It will be put to good use supporting the Quakertown Community High School music students."   "Univest is proud to be able to award such a worthwhile group with the $1,000 prize," said Kim Detwiler, senior vice president and director of corporate communications, Univest Corporation.  "Arts and education are two of the areas in which we focus our giving, so supporting QMPO is a great fit.  We look forward to supporting a variety of causes throughout the year through Committed to Local."   In addition to financial contributions, which totaled more than $1.1 million in 2012, Univest was also dedicated to helping the community through community service.  In 2012, Univest employees provided more than 13,500 volunteer hours to the communities we serve in Bucks, Chester and Montgomery counties and the Lehigh Valley.   If registered 501 (c) (3) organizations are interested in applying for support from Univest's Committed to Local program, applications can be found by going to univest.net .  The Caring for the Arts Giveaway launched on March 8, 2013 and ran through March 25, 2013.  To be eligible to win the $1,000, the nonprofit group had to be a registered 501 (c) (3) organization that aligned with the Univest giving guidelines and operates somewhere in the Univest service area of Bucks, Chester and Montgomery counties and the Lehigh Valley.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.   For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.   Univest Corporation's Caring for the Arts Giveaway was open to all legal residents of the United States who are 18 years of age and older. Participants may post to the Univest Facebook page the organization they support. The winner was determined by the most posts, and the nonprofit must also had to meet Univest Corporation's grant-giving standards. We request only one organization name per post. The winning organization will be contacted via phone or email. The promotion runs from 8:00 a.m. Monday, March 8, 2013 to 8:00 a.m. Monday, March 25, 2013. In the event a winning organization cannot be reached and/or does not respond by 5:00 p.m. Monday, April 1, 2013, they forfeit the grant to a new randomly selected group. Univest Corporation is not responsible for the organization's availability or non-response. Univest Corporation reserves the right to modify, suspend or cancel the contest at any time. The Caring for the Arts Giveaway is in no way sponsored, endorsed, administered by or associated with Facebook. http://www.univest.net/news/2013/march/univest-corporation-awards-$1,000-to-quakertown-music-promoters-organization/ http://www.univest.net/news/2013/march/univest-corporation-awards-$1,000-to-quakertown-music-promoters-organization/ Fri, 29 Mar 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., March 7, 2013 - Univest Corporation today announced the first Caring for Community Giveaway of 2013, a contest that will award $1,000 to a local, nonprofit arts organization.   As part of its Committed to Local philanthropic giving program, Univest hosts a contest four times each year through its Facebook page in which it asks customers and community members to nominate local nonprofits that deserve financial assistance.  Through the Caring for Arts Giveaway, Univest will award $1,000 to a deserving, local, nonprofit, arts organization selected by the members of the community it serves.    Here's how it works: Identify a local, nonprofit, arts organization that deserves the $1,000 donation. Nominate the group by posting a comment on the Univest Facebook page, www.facebook.com/UnivestCorporation , explaining why the group should win the money.  The nonprofit arts organization with the most posts at the end of the contest will be the winner.   The contest launches on March 8, 2013 at 8:00 a.m. and will run through March 25, 2013 at 8:00 a.m.  To be eligible to win the $1,000, the nonprofit group must be a registered 501 (c) (3) organization that aligns with the Univest giving guidelines and operates somewhere in the Univest service area of Bucks, Chester and Montgomery counties and the Lehigh Valley. We encourage you to be an advocate and nominate your favorite local, nonprofit, arts organization for a chance to win $1,000.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . Univest Corporation's Caring for the Arts Giveaway is open to all legal residents  of the United States who are 18 years of age and older. Participants may post  to the Univest Facebook page the organization they support. The winner will be determined by the most posts, and the nonprofit must also meet Univest Corporation's grant-giving standards. We request only one organization name per post. The winning organization will be contacted via phone or email. The promotion runs from 8:00 a.m. Monday, March 8, 2013 to 8:00 a.m. Monday, March 25, 2013. In the event a winning organization cannot be reached and/or does not respond by 5:00 p.m. Monday, April 1, 2013, they forfeit the grant to a new randomly selected group. Univest Corporation is not responsible for the organization's availability or non-response. Univest Corporation reserves the right to modify, suspend or cancel the contest at any time. The Caring for the Arts Giveaway is in no way sponsored, endorsed, administered by or associated with Facebook. http://www.univest.net/news/2013/march/univest-corporation-launches-caring-for-the-arts-giveaway-local-nonprofit-will-win-$1,000/ http://www.univest.net/news/2013/march/univest-corporation-launches-caring-for-the-arts-giveaway-local-nonprofit-will-win-$1,000/ Thu, 07 Mar 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., February 27, 2013 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today declared a $.20 per share quarterly cash dividend.  The dividend will be paid on April 1, 2013 to shareholders of record as of March 13, 2013.  About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2013/february/univest-corporation-declares-first-quarter-dividend/ http://www.univest.net/news/2013/february/univest-corporation-declares-first-quarter-dividend/ Wed, 27 Feb 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., January 23, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today announced financial results for the quarter and year ended December 31, 2012. Univest reported net income of $5.1 million or $0.30 diluted earnings per share for the quarter ended December 31, 2012, a 3% decrease in net income compared to $5.3 million or $0.32 diluted earnings per share for the quarter ended December 31, 2011. For the year ended December 31, 2012, Univest reported net income of $20.9 million or $1.24 diluted earnings per share, compared to $18.9 million or $1.13 diluted earnings per share for the same period in the prior year. The increase in net income of $2.0 million during 2012 represents an increase of 11% over the prior year.   Loans Gross loans and leases increased $12.4 million from September 30, 2012 and $35.5 million from December 31, 2011. The growth in loans from the prior year-end occurred primarily in the commercial and residential mortgage categories. While the Corporation continued to see increased loan activity during 2012, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the slow and uncertain economic recovery.   Deposits Total deposits increased $87.4 million from September 30, 2012 and $116.1 million from December 31, 2011. Deposits, excluding public funds, grew $87.1 million from September 30, 2012 and $120.2 million from December 31, 2011, primarily due to new customers choosing Univest and an overall increase in demand deposits.   Net Interest Income and Margin Net interest income decreased $184 thousand or 1% to $18.2 million in the fourth quarter of 2012 compared to the fourth quarter of 2011. The net interest margin on a tax-equivalent basis for the fourth quarter of 2012 was 3.80%, compared to 3.84% during the third quarter of 2012, and down from 3.96% in the fourth quarter of 2011. Net interest income decreased $2.3 million or 3% to $72.5 million for the year ended December 31, 2012 compared to the same period in 2011. The net interest margin on a tax-equivalent basis for the year ended December 31, 2012 was 3.89% compared to 4.15% for the year ended December 31, 2011.   The declines in net interest income and net interest margin were primarily due to the re-investment of maturing and called investment securities into lower yielding investments as a result of the lower interest rate environment and lower rates on commercial loans due to re-pricing and competitive pressures. The declines in net interest income and net interest margin were partially offset by re-pricing of certificates of deposit and savings account products.   Non-Interest Income Non-interest income for the quarter ended December 31, 2012 was $10.4 million, an increase of $1.4 million or 16% from the comparable period in the prior year. The net gain on mortgage banking activities increased $919 thousand during the fourth quarter of 2012 over the same period in 2011 as refinance volume continues to be strong. Insurance commission and fee income was up $404 thousand mainly due to the Javers Group acquisition on May 31, 2012. In addition, trust fee income increased $433 thousand primarily due to growth in trust assets and estate fees. Partially offsetting this favorable variance was a decline in investment advisory commission and fee income of $371 thousand, primarily a result of timing and customer product selection.   Non-interest income for the year ended December 31, 2012 was $40.3 million, an increase of $5.9 million or 17% compared to the same period in the prior year. The increase was primarily attributable to an increase in the net gain on mortgage banking activities of $4.2 million due to stronger mortgage demand from increased refinance activity, a $1.3 million gain on the sale of a former operations building and proceeds from bank owned life insurance death benefits of $989 thousand. In addition, insurance commission and fee income was up $798 thousand mostly due to the Javers Group acquisition. These favorable variances were partially offset by an increase in the net loss on sales and write-downs of other real estate owned of $1.1 million. In addition, the net gain on sales of securities was $305 thousand for the year ended December 31, 2012 compared to $1.4 million for the same period in 2011.   Non-Interest Expense Non-interest expense for the fourth quarter of 2012 was $19.7 million, an increase of $2.1 million or 12% compared to the fourth quarter of 2011. Salaries and benefits expense increased $1.4 million primarily due to higher commissions related to increased mortgage banking activities, annual performance increases and additional staff hired to expand our existing business lines and welcomed through the Javers acquisition. Additionally, non-interest expense increased due to higher equipment expenses and employment services used to identify top sales personnel.   Non-interest expense for the year ended December 31, 2012 was $76.3 million, an increase of $8.3 million or 12% compared to same period in the prior year. Salaries and benefits expense increased $6.1 million primarily due to higher commissions related to increased mortgage banking activities, annual performance increases and additional staff hired primarily to support revenue generation. Additionally, non-interest expense increased due to higher loan workout, legal, employment services and equipment expenses. The year-to-date increases were partially offset by a decline in deposit insurance premiums of $350 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment on the average consolidated total assets less average tangible equity.   Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $32.1 million at December 31, 2012 from $38.2 million at December 31, 2011. Non-accrual loans and leases were $30.5 million at September 30, 2012. The decrease in non-accrual loans from December 31, 2011 was mainly due to loan charge-offs, pay-downs and sales, and one large non-accrual troubled debt restructured credit for $6.2 million which was returned to accruing troubled debt restructured status as the borrower made six consecutive principal and interest payments; these collectively exceeded the additions to non-accrual loans. Net loan and lease charge-offs were $4.7 million during the fourth quarter of 2012 compared to $4.3 million for the fourth quarter of 2011. For the year ended December 31, 2012, net loan and lease charge-offs were $15.2 million compared to $18.5 million for the year ended December 31, 2011.   Non-accrual loans and leases as a percentage of total loans and leases (held for investment and nonaccrual loans held for sale) were 2.17% at December 31, 2012, compared to 2.07% at September 30, 2012 and 2.64% at December 31, 2011. Other real estate owned decreased to $1.6 million, consisting of two properties at December 31, 2012, compared to $3.3 million at September 30, 2012 and $6.6 million at December 31, 2011. The year-to-date decrease was primarily due to write-downs on properties of $2.0 million to their updated appraised values, and the sale of three commercial properties for $3.0 million which had a total carrying value of $2.9 million, resulting in a gain on sale of $97 thousand.   The provision for loan and lease losses was $2.4 million for the fourth quarter of 2012, compared to $2.2 million for the quarter ended September 30, 2012 and $3.1 million for the quarter ended December 31, 2011. The provision for loan and lease losses for the year ended December 31, 2012 was $10.0 million, a reduction of $7.5 million compared to $17.5 million for the year ended December 31, 2011. The decrease in the year-to-date provision was primarily the result of migration and resolution of loans through the loan workout process and a decrease in loss factors for commercial real estate loans. The allowance for loan and lease losses as a percentage of loans and leases held for investment was 1.67% at December 31, 2012, compared to 1.84% at September 30, 2012 and 2.07% at December 31, 2011. The allowance for loan and lease losses to nonaccrual loans and leases held for investment equaled 77.01% at December 31, 2012, compared to 97.03% at September 30, 2012 and 78.18% at December 31, 2011.   Capital Univest continues to remain well-capitalized at December 31, 2012. Univest's total risk-based capital at December 31, 2012 was 15.62%, well in excess of the regulatory minimum for well capitalized status of 10%.   Dividend On November 28, 2012, Univest Corporation declared a quarterly cash dividend of $0.20 per share, payable on December 28, 2012. This represented a 4.82% annualized yield based on the closing price of Univest's stock on the date the dividend was paid.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2013/january/univest-corporation-of-pennsylvania-univest-bank-and-trust-co℠-reports-fourth-quarter-and-year-end-earnings/ http://www.univest.net/news/2013/january/univest-corporation-of-pennsylvania-univest-bank-and-trust-co℠-reports-fourth-quarter-and-year-end-earnings/ Wed, 23 Jan 2013 00:00:00 EST Univest Bank and Trust Co. Pictured (standing left to right): Meghan Garber, volunteer coordinator, Bucks County SPCA, with Chihuahua/Terrier mix, Max; Kim Detwiler, senior vice president and director of corporate communications, Univest  Corporation, with Poodle mix, Jordy; Anne Irwin, Executive Director, Bucks County SPCA; Beth Kittrell, director of development, Bucks County SPCA; Annette  Szygiel, executive vice president and chief experience officer, Univest  Corporation; (front) Bucks County SPCA volunteer Laura Goodwin with Pitbull, Lucy.   SOUDERTON, Pa., January 9, 2013 - Univest Corporation today announced the winner of the Caring for Community Giveaway, a contest that awarded $5,000 to a local, nonprofit organization.  The Bucks County SPCA was randomly selected as the winner from 233 local, nonprofit organizations.  Nominations for the prize were made through the Univest Facebook page , with each post made on behalf of a nonprofit organization counting as an entry in the contest.  There were a total of 1,997 posts over the course of the contest, which ran from December 3, 2012 through December 31, 2012.   "We are so honored and excited to have been chosen in Univest's Caring for Community Giveaway! With the opening of the Bucks County SPCA's Upper Bucks shelter last year, the $5,000 could not have come at a better time," said Beth Kittrell, director of development for the Bucks County SPCA.  "This boost to our Centennial Campaign will go a long way toward helping us develop the new shelter and advance our core mission - preventing and alleviating the suffering of thousands of animals each year.  We are deeply grateful to Univest for such generous support and to our always enthusiastic Facebook family for so many kind words and nominations."    "We were thrilled with the overwhelming response we received for the Caring For Community Giveaway," said Annette Szygiel, executive vice president and chief experience officer of Univest Corporation.  "This contest truly brought to light all of the great work being done for so many different causes right here in our own communities.  We are proud to be able to support the Bucks County SPCA and look forward to continuing to support a variety of organizations through our Committed to Local giving program."   This $5,000 Caring For Community Giveaway wrapped up the first year of Univest's new Committed to Local giving program, an initiative that provided an additional $100,000 over the course of 2012 to local nonprofits to help make a difference in the neighborhoods Univest serves. Univest's total support to the community surpassed its $1 million goal and employees of Univest volunteered more than 13,500 hours to help local nonprofits.   Univest has announced its Committed to Local giving program will become Univest's overall philanthropic program moving forward.  In 2013, Univest once again expects to contribute more than $1 million to the communities it serves.  If registered 501 (c) (3)organizations are interested in applying for support from Univest's Committed to Local program applications and giving guidelines can be found by going to univest.net/ctl . For more information, please contact Nicole O'Neil at 215-721-2450 or oneiln@univest.net.   For the complete rules for the Caring For Community Giveaway, click here .   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.  About Bucks County SPCA The Bucks County SPCA has been dedicated to preventing and alleviating the suffering of animals since 1912.  For more information, please visit www.bcspca.org or call the Lahaska shelter at 215-794-7425 or the Upper Bucks shelter at 267-347-4674.  http://www.univest.net/news/2013/january/univest-corporation-awards-$5,000-to-the-bucks-county-spca-as-winner-of-the-caring-for-community-giveaway/ http://www.univest.net/news/2013/january/univest-corporation-awards-$5,000-to-the-bucks-county-spca-as-winner-of-the-caring-for-community-giveaway/ Wed, 09 Jan 2013 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., December 30, 2012 - Univest Bank and Trust Co. announced the winners of the Apple gift card sweepstakes.  The sweepstakes, which ran from October 1, 2012 through November 16, 2012, awarded $500 gift certificates to five individuals.  The winners were:  Mitchell Berger, Richard Kratz, Justin Myers, Barbara Root and Ronald Tomes.  Univest customers were automatically entered in the sweepstakes when they used their MasterMoney Debit Card to make a purchase, in addition, entries were accepted by mail with no purchase necessary.  For the Official Sweepstakes Rules, click here .   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/december/univest-bank-and-trust-co-announces-winners-of-the-apple-gift-card-sweepstakes/ http://www.univest.net/news/2012/december/univest-bank-and-trust-co-announces-winners-of-the-apple-gift-card-sweepstakes/ Sun, 30 Dec 2012 00:00:00 EST Univest Bank and Trust Co. Univest also named Kenneth D. Hochstetler to president of Wealth Management for Univest Bank and Trust Co. and Michael S. Keim to executive vice president and chief financial officer for Univest Corporation and Univest Bank and Trust Co.   SOUDERTON, Pa., December 18, 2012 -- Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, named the company's chief operating officer, Jeffrey M. Schweitzer, to the additional position of president of Univest Corporation, effective January 1, 2013.  Schweitzer assumes the position from William S. Aichele, who remains chairman and chief executive officer. K. Leon Moyer remains vice chairman and president and chief executive officer of Univest Bank and Trust Co. Schweitzer is the fifth president of the $2.2 billion organization, following such notable leaders as Aichele (1997-2012), Merrill S. Moyer (1984-1997), Paul E. Witter (1978-1984) and Charles H. Hoeflich (1973-1978).    Univest Corporation also announced the promotions of Kenneth D. Hochstetler to president of Wealth Management for Univest Bank and Trust Co. and Michael S. Keim to executive vice president and chief financial officer for Univest Corporation and Univest Bank and Trust Co., effective January 1, 2013.   Schweitzer joined Univest in October 2007 as executive vice president and chief financial officer for Univest Corporation and Univest Bank and Trust Co.  In January 2011, Schweitzer was promoted to senior executive vice president and chief financial officer of Univest Corporation and Univest Bank and Trust Co. In July 2012, he assumed the role of chief operating officer, a position he will retain.  In his new role as president, Schweitzer will oversee the chief financial officer function and the following lines of business and support: Consumer Banking, Insurance, Mortgage Banking, Wealth Management, Equipment Finance, Risk Management and Technology.   Hochstetler joined Univest in 1992 and has more than 20 years of experience in the financial services industries.  He founded Univest's Wealth Management division in 2000.  As president of Wealth Management for Univest Bank and Trust Co., Hochstetler will focus on growing the business both organically and through acquisition in Univest's service area.  In addition to his role as president of Wealth Management, Hochstetler will continue as senior executive vice president for Univest Corporation and as president of Univest Investments, Inc., the Corporation's investment advisory and brokerage subsidiary.   Keim joined Univest Bank and Trust Co. in 2008 and most recently held the position of senior vice president, Mortgage Banking. Prior to joining Univest, he was a self-employed consultant working with a private equity firm to develop and implement a bank acquisition strategy.  Keim also spent 14 years working for GMAC Residential where he had varied responsibilities including senior vice president and managing director of Consumer Lending, chief financial officer and executive vice president and chief operating officer of GMAC Bank.  Keim will report to Schweitzer and oversee all areas of Finance, Treasury Services, Investor Relations, Operations and Property Management.   In addition to their responsibilities at Univest, Schweitzer, Hochstetler and Keim are involved in the local communities where they live and work. Schweitzer is on the board of directors of the North Penn and Indian Valley Boys and Girls Club.  Additionally he serves on the steering committee for PerkUp of the Upper Perkiomen Valley.  Schweitzer resides in Skippack.   Hochstetler serves as chairman of the Souderton (Pa.) Industrial Development Authority and serves on the boards of directors of Goshen College (In.), and Microvest Capital Management (Md.).  Hochstetler also is in leadership and committee roles with the North Penn United Way and Blooming Glen Mennonite Church.  Hochstetler resides in Souderton.   Keim was co-chair of St. Bede's Church's recent capital campaign and is a member of the Kappa Delta Rho Alumni Corp. finance committee, which works to provide scholarships for undergraduate members at Temple University. Keim resides in Richboro.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester and Montgomery counties, and the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.   This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors.  Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission. http://www.univest.net/news/2012/december/jeffrey-m-schweitzer-named-president-of-univest-corporation/ http://www.univest.net/news/2012/december/jeffrey-m-schweitzer-named-president-of-univest-corporation/ Wed, 19 Dec 2012 00:00:00 EST Univest Bank and Trust Co.     J anet Whitehead, chair of the Univest fundraising committee is joined by committee members Della Ashton and Bryce Bergey to present Sarah C. Whetstone, executive director of the North Penn United Way, with a check for 2012's overall contribution of $154,600. Pictured left to right:  Janet Whitehead, vice president and assistant director of human resources, Univest; Della Ashton, deposit operations officer, Univest; Sarah C. Whetstone, executive director, North Penn United Way; Bryce Bergey, vice president, institutional investments, Univest.   SOUDERTON, Pa., December 11, 2012 - In 2012, Univest Corporation (NASDAQ: UVSP) and its employees have contributed $154,600 to the North Penn United Way. The financial support was raised with the help of its employees who supported the company's annual giving campaign.  Univest Corporation also contributed financially through a sponsorship of the United Way's Run for Your Neighbor 5K in November.     Janet Whitehead, vice president and assistant director of human resources for Univest led the internal fundraising campaign, "At Univest, we firmly believe in giving back to the local communities we serve and our employees take pride in living out our commitment to being a socially responsible company. We are proud to have so many of our employees donate both their time and money to help make a difference in the communities we serve."   For the 2012 campaign, Univest encouraged its employees to not only increase monetary contributions, but to also support the organization by participating in the United Way Day of Caring.  One hundred Univest employees volunteered at various local nonprofits renovating buildings and parks this past September.  In addition, Univest also held an internal silent auction with 100% of the proceeds going to the United Way.  This year, giving to the United Way saw a 21% increase over 2011.   "We are thrilled with this generous donation from Univest that will advance our goals to ensure that all children succeed in school, older adults remain independent and community connected, and our community maintains a strong safety net for those in crisis," said Sarah C. Whetstone, executive director of the North Penn United Way. "We are thankful for the support we receive year after year from Univest and its employees."   In July, Univest was recognized by the North Penn United Way as the recipient of their Corporate Community Service Award.  In addition, Univest employees have pledged to volunteer 10,000 hours to various nonprofits over the course of the year and the Corporation has pledged to give back $1 million to the communities it serves in 2012.   About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/november/univest-corporation-with-its-employees-contributes-$154,600-to-the-north-penn-united-way/ http://www.univest.net/news/2012/november/univest-corporation-with-its-employees-contributes-$154,600-to-the-north-penn-united-way/ Tue, 11 Dec 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., November 30, 2012 - Univest Bank and Trust Co. today announced the various nonprofit groups it is supporting with holiday collections in each of its 32 financial service centers.  Local organizations to benefit include Penn Foundation, Laurel House, Open Line, Bucks County Opportunity Council and Keystone Opportunity Center. Univest is committed to providing strong leadership, financial support and volunteerism in the communities it serves. Employees and customers are encouraged to join in the effort to give back this holiday season.    The chart below summarizes the items being collected on behalf of  each organization.  Donations can be dropped off at the participating Financial Service Center.  Contact information and addresses for each location can be found at www.univest.net .  For general questions, the Univest Call Center is also available at 1.877.723.5571.     About Univest Corporation of PA Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/november/univest-bank-and-trust-co-locations-support-local-nonprofit-organizations-with-holiday-collections/ http://www.univest.net/news/2012/november/univest-bank-and-trust-co-locations-support-local-nonprofit-organizations-with-holiday-collections/ Fri, 30 Nov 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., November 28, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today declared a $0.20 per share quarterly cash dividend.    As a result of the uncertainty surrounding the tax treatment of dividends beyond 2012, the Board of Directors voted today to accelerate the payout date to December 28, 2012, from the normal payout date of January 2, 2013, to shareholders of record as of December 12, 2012.    About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.  For more information on  Univest Corporation of Pennsylvania  and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.     http://www.univest.net/news/2012/november/univest-corporation-declares-fourth-quarter-dividend/ http://www.univest.net/news/2012/november/univest-corporation-declares-fourth-quarter-dividend/ Wed, 28 Nov 2012 00:00:00 EST Univest Bank and Trust Co. Univest presents St. Luke's Hospital - Quakertown Campus with a $1,000 check for winning the "Committed to Local" Facebook contest. Pictured left to right: Kathy Ramson, Vice President of Patient Services, St. Luke's Hospital - Quakertown Campus; John Sylvia, President, St. Luke's Hospital - Quakertown Campus; and Kim Detwiler, Senior Vice President and Director of Corporate Communications, Univest.  SOUDERTON, Pa.,  November 26, 2012 - Univest Corporation awarded St. Luke's Hospital - Quakertown Campus $1,000 for winning the most recent "Committed to Local" Facebook contest.  Earning more than 60% of the vote, St. Luke's Hospital - Quakertown Campus beat out Grand View Hospital and Lansdale Hospital for the prize.   This contribution is part of Univest's "Committed to Local" campaign which is focused on advancing the missions of local nonprofit organizations focused on youth education and wellness development.  As of September 30, 2012, Univest has partnered with more than 60 nonprofit organizations tied to youth education and wellness development and contributed more than $485,000.  In addition to financial contributions, Univest employees have pledged to volunteer more than 10,000 hours in local communities in 2012.   If registered 501 (c) (3) organizations are interested in applying for support from Univest's "Committed to Local" program applications can be found by going to www.univest.net/ctl . While Univest's "Committed to Local" initiative focuses solely on support for youth education and wellness development, Univest's overall philanthropic program also includes providing support to nonprofit and civic organizations operating in the areas of arts and culture. For more information, please contact Nicole O'Neil at 215-721-2450 oneiln@univest.net.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses and nonprofit organizations in Bucks, Chester and Montgomery counties as well as the Lehigh Valley.  For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/november/univest-corporation-awards-$1,000-to-st-lukes-hospital-–-quakertown-campus/ http://www.univest.net/news/2012/november/univest-corporation-awards-$1,000-to-st-lukes-hospital-–-quakertown-campus/ Mon, 26 Nov 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa.,  November 5, 2012 - Univest Corporation today announced its third "Committed to  Local" Facebook contest.  As part of a focus on supporting community  wellness initiatives, Univest has selected three local hospitals to compete for  a $1,000 donation: Grand View Hospital, Lansdale Hospital and St. Luke's Hospital - Quakertown Campus. Individuals can show support for the hospital of their choice by visiting the Univest corporate Facebook page at http://www.facebook.com/UnivestCorporation to vote for their favorite. The contest will run through November 23 and the hospital with the most votes will receive $1,000 from Univest.    The contributions made through these Facebook contests are part of  Univest's pledge to provide more than a million dollars to local non-profit organizations in 2012. In addition to  giving financially through the "Committed to Local" initiative, Univest employees have pledged to volunteer more than 10,000 hours this year in local communities.   Previous winners of the "Committed to Local" Facebook contest were  Bucks County Community College and the Montgomery County-Norristown Public Library.   If registered 501(c) 3 organizations are interested in applying  for support from Univest's "Committed to Local" program applications can be found by going to www.univest.net/ctl . While Univest's "Committed to Local" initiative focuses solely on support for youth education and wellness development, Univest's overall philanthropic program also includes providing support to nonprofit and civic organizations operating in the areas of arts and culture. For more information, please contact Nicole O'Neil at 215-721-2450 or oneiln@univest.net.     About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/november/univest-corporation-launches-committed-to-local-contest-on-facebook-winning-hospital-to-receive-$1,000-donation/ http://www.univest.net/news/2012/november/univest-corporation-launches-committed-to-local-contest-on-facebook-winning-hospital-to-receive-$1,000-donation/ Tue, 06 Nov 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa. October 29, 2012 - As Hurricane Sandy approaches, we want to help our customers manage through the storm where we can. One way we can help is by waiving the following Univest fees that would have occurred today, Monday, October 29 through Wednesday, October 31. Please know that you'll have until the end of business on Thursday, November 1, to make a deposit or a payment to bring your account current and avoid fees tied to the following. Overdraft ProtectionTransfer Extended Overdraft Returned Item and Insufficient Funds Fees for deposit accounts Late fees on credit cards, business and consumer loans Late fees on mortgages, home-equity, auto and student loans   We hope these efforts can play a small part in easing some of your worries from Hurricane Sandy.  We are committed to doing what we can for our customers and communities who have and will be impacted by this incredible storm.    Due to the magnitude of what is expected to hit our area, all Univest offices will close at 12:00 p.m. on Monday, October 29 for the safety of our employees and customers.  Alerts and updates on closings for tomorrow will be posted at www.univest.net , on our Facebook  page, on WNPV-1440 AM and on WFMZ-Channel 69 News as possible.  We encourage you to remain at home and take the advice of authorities during the storm.  If however you are planning to visit a Univest office in the coming days, please check the alerts and updates prior to leaving, call your local office or call our service center at 877-723-5571 for the most current information.   Thank you for trusting us with your business.  Please contact us following the storm if you have additional needs where you feel we can be of assistance.    Sincerely,   K. Leon Moyer President and CEO Univest Bank and Trust Co.   Univest Bank and Trust Co. is Member FDIC and an  Equal Housing, Opportunity and SBA Preferred Lender. http://www.univest.net/news/2012/october/univest-waiving-fees-due-to-hurricane-sandy/ http://www.univest.net/news/2012/october/univest-waiving-fees-due-to-hurricane-sandy/ Mon, 29 Oct 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., October 24, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today announced financial results for the quarter ended September 30, 2012. Univest reported net income of $5.8 million or $0.34 diluted earnings per share for the quarter ended September 30, 2012, a 10% increase in net income compared to $5.2 million or $0.31 diluted earnings per share for the quarter ended September 30, 2011. Net income for the nine months ended September 30, 2012 was $15.8 million or $0.94 diluted earnings per share, a 16% increase in net income compared to $13.6 million or $0.81 diluted earnings per share for the comparable period in the prior year.    Loans Gross loans and leases increased $4.1 million from June 30, 2012, $23.1 million from December 31, 2011 and $33.1 million from September 30, 2011.The growth in loans occurred primarily in the commercial and residential mortgage categories. While the Corporation continued to see increased loan activity in the nine months ended September 30, 2012, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the prolonged challenging economic environment.   Deposits Total deposits increased $34.0 million from June 30, 2012, $28.7 million from December 31, 2011 and $52.9 million from September 30, 2011. Deposits, excluding public funds, grew $33.2 million from December 31, 2011 and $81.8 million from September 30, 2011 primarily due to new customers choosing Univest. There was a decline from June 30, 2012 of $18.1 million in non-public fund deposits which was more than offset by an increase in public funds of $52.1 million mostly due to anticipated seasonal tax deposits.   Net Interest Income and Margin Net interest income decreased $597 thousand or 3% to $18.0 million in the third quarter of 2012 compared to the third quarter of 2011. The net interest margin on a tax-equivalent basis for the third quarter of 2012 was 3.84%, compared to 3.97% during the second quarter of 2012, and down from 4.15% in the third quarter of 2011. Net interest income decreased $2.1 million or 4% to $54.3 million for the nine months ended September 30, 2012 compared to the same period in 2011. The net interest margin on a tax-equivalent basis for the nine months ended September 30, 2012 was 3.92% compared to 4.21% for the nine months ended September 30, 2011.   The declines in net interest income and the net interest margin were primarily due to the re-investment of maturing and called investment securities with lower yielding investments, as a result of the lower interest rate environment and lower rates on commercial loans due to re-pricing and competitive pressures. The decline in net interest income and the net interest margin was partially offset by re-pricing of certificates of deposits and savings account products. During the third quarter of 2012, the Corporation increased its investments in government agencies, treasuries and corporate bonds with longer maturity durations as interest rate protection in the prolonged low rate interest environment.     Non-Interest Income Non-interest income for the quarter ended September 30, 2012 was $10.9 million, an increase of $1.9 million or 21% from the comparable period in the prior year. During the third quarter of 2012, the Corporation sold a former operations building located in Hilltown, Pennsylvania with a book value of $702 thousand for $2.0 million, resulting in a gain on sale of fixed assets of $1.3 million which is included in other income. The net gain on mortgage banking activities increased $1.3 million during the third quarter of 2012 over the same period in 2011 as re-finance activity continues to be strong. In addition, insurance commission and fee income was up $342 thousand mainly due to the Javers Group acquisition on May 31, 2012. Partially offsetting these favorable variances was an increase in the net loss on sales and write-downs of other real estate owned of $480 thousand. The net gain on sales of securities was $9 thousand for the third quarter of 2012 compared to $848 thousand during the third quarter of 2011.   Non-interest income for the nine months ended September 30, 2012 was $29.9 million, an increase of $4.5 million or 18% compared to the nine months ended September 30, 2011. The increase was primarily attributable to an increase in the net gain on mortgage banking activities of $3.3 million due to stronger mortgage demand from increased re-finance activity, a $1.3 million gain on sale of a former operations building during the third quarter of 2012 and proceeds from bank owned life insurance death benefits of $989 thousand recognized during the first quarter of 2012. These favorable variances were partially offset by an increase in the net loss on sales and write-downs of other real estate owned of $965 thousand. In addition, the net gain on sales of securities was $291 thousand for the nine months ended September 30, 2012 compared to $1.4 million for the same period in 2011.   Non-Interest Expense Non-interest expense for the third quarter of 2012 was $19.1 million, an increase of $1.8 million or 10% compared to the third quarter of 2011. Salaries and benefits expense increased $940 thousand primarily due to higher commissions related to increased mortgage banking activities, annual performance increases and additional staff including the Javers Group acquisition. Additionally, non-interest expense increased due to higher loan workout, legal, employment services and equipment expenses.   Non-interest expense for the nine months ended September 30, 2012 was $56.6 million, an increase of $6.1 million or 12% compared to the nine months ended September 30, 2011. Salaries and benefits expense increased $4.6 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives and annual performance increases. Additionally, non-interest expense increased due to higher loan workout, legal, employment services and equipment expenses. The increases for the year-to-date were partially offset by a decline in deposit insurance premiums of $303 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment on the average consolidated total assets less average tangible equity.    Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $30.5 million at September 30, 2012 from $38.2 million at both December 31, 2011 and September 30, 2011. The decrease in non-accrual loans was mainly due to loans returned to accrual of interest status, charge-offs and pay-downs, which exceeded additions to non-accrual loans. During the third quarter of 2012, one non-accrual troubled debt restructured credit for $6.2 million was returned to accruing troubled debt restructured status as the borrower made six consecutive principal and interest payments. Net loan and lease charge-offs were $5.6 million during the third quarter of 2012 compared to $5.2 million for the third quarter of 2011.   Nonperforming loans and leases as a percentage of total loans and leases (held for investment and nonaccrual loans held for sale) were 3.03% at September 30, 2012 compared to 2.94% at December 31, 2011 and 2.96% at September 30, 2011. Other real estate owned decreased to $3.3 million, consisting of three properties at September 30, 2012, compared to $6.6 million at December 31, 2011 and $7.7 million at September 30, 2011. The year-to-date decrease was primarily due to write-downs on properties to their updated appraised values and the sale of a commercial property, with a carrying value of $1.3 million, which sold for $1.5 million resulting in a gain on sale of $210 thousand.   The provision for loan and lease losses declined to $2.2 million for the third quarter of 2012 compared to $3.6 million for the quarter ended September 30, 2011. The allowance for loan and lease losses as a percentage of loans and leases held for investment was 1.84% at September 30, 2012 compared to 2.07% at December 31, 2011 and 2.16% at September 30, 2011. The allowance for loan and lease losses to nonaccrual loans and leases held for investment equaled 97.03% at September 30, 2012, compared to 78.18% at December 31, 2011 and 81.20% at September 30, 2011.    Capital Univest continues to remain well-capitalized at September 30, 2012. Univest's total risk-based capital at September 30, 2012 was 15.34%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.   Dividend On October 1, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.40% annualized yield based on the closing price of Univest's stock on the date the dividend was paid.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/october/univest-corporation-of-pennsylvania-–-univest-bank-and-trust-co-–-reports-third-quarter-earnings/ http://www.univest.net/news/2012/october/univest-corporation-of-pennsylvania-–-univest-bank-and-trust-co-–-reports-third-quarter-earnings/ Fri, 26 Oct 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa, October 23, 2012- Univest Insurance, Inc., today announced a partnership with Liazon which brings the award-winning Bright Choices ® Exchange to its clients.  With the Bright Choices Exchange employers can set predictable budgets for their benefits, helping businesses save on average 10-30% in the first year alone.    Liazon's flagship product, the Bright Choices Exchange, is an online benefits store that is changing the way employers and employees buy benefits. Bright Choices helps employers save money on their health care costs by setting predictable budgets while allowing employees to personalize their benefits package with a selection of health, dental, vision, life, disability, and other benefits from top national and regional providers. Award-winning decision support and education help employees make smarter benefits selections.   "Progressive brokers like Univest Insurance are looking for new solutions to bring better benefits options to their clients," said Michael Karp, chief revenue officer of Liazon. "Through the Bright Choices Exchange businesses can gain control over their health care costs while providing more comprehensive coverage to their employees."   "At Univest Insurance it is a priority to give our clients more choice and control while saving them money, especially in this challenging economic environment and the Bright Choices Exchange helps us do just that," said Ron Flaherty, president, Univest Insurance.     Bright Choices assists employees in making informed decisions, walking each user through a questionnaire about health, wealth, and personality in order to recommend the right benefits package for them and their families.  A personalized shopping experience follows a logical flow to help employees understand and select the best benefits for them.  From a wide variety of options, employees can compare plans side-by-side and view plan costs by pay period to ensure they are making an educated choice that will meet their needs.   *Insurance products are offered through Univest Insurance, Inc. and are obligations of the issuing insurance companies, are not obligations or deposits of or guaranteed by any bank and are not insured by the FDIC or any other agency of the United States. Insurance products are not a condition to any bank loan, product or service. Univest Insurance, Inc. is a licensed subsidiary of Univest Corporation of PA.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/october/univest-insurance,-inc-announces-partnership-with-liazon-introduces-bright-choices-exchange-to-help-employers-save-money-on-health-care-costs/ http://www.univest.net/news/2012/october/univest-insurance,-inc-announces-partnership-with-liazon-introduces-bright-choices-exchange-to-help-employers-save-money-on-health-care-costs/ Tue, 23 Oct 2012 00:00:00 EST Univest Bank and Trust Co. Univest also launched new checking accounts featuring online banking and bill payment, mobile banking, optional e-Statements, person-to-person fund transfers and more  SOUDERTON, Pa., October 15, 2012 -- Univest Bank and Trust Co., the banking subsidiary of Univest Corporation of Pennsylvania (listed on NASDAQ: UVSP), today introduced Remote Deposit Anywhere , a service that enables customers to deposit checks from an Apple iPhone 4 or higher. Univest is among the first community banks in the Philadelphia area to offer consumers the ability to remotely deposit checks. The service is free to holders of Univest personal checking accounts.   With Remote Deposit Anywhere, personal account holders simply download a new Univest  app on their iPhone, select the "Deposits" icon and take a picture of the front  and endorsed back of the check. Customers then enter the check amount and  select the Univest account for deposit. An e-mail is sent to the account holder when the deposit has been approved, usually within minutes. To watch a 'how to' video on Remote Deposit Anywhere, consumers are invited to go to the Univest website.   "Univest is bringing new financial solutions to our customers using the latest technologies," said Lou Spinelli, executive vice president of Univest Bank and Trust Co. "Increasingly, many customers are comfortable using computers, iPads and iPhones to do their banking. Our remote deposit service and other products we are introducing today not only make banking more convenient - but many of the services are free, too."   New checking accounts with free features Univest also recently introduced two new checking accounts - the  Univest Gold account and the  Univest Blue account - that include a number of free convenience features including: online banking and bill payment mobile banking direct deposit optional e-Statements QuickView e-mails, which provide a snapshot of the account holder's account activity daily, weekly or whenever the account holder specifies person-to-person fund transfers to anyone, anywhere in the United States, anytime a Univest debit card The Univest Gold account is designed for customers who maintain higher balances in a variety of Univest accounts or services and want additional benefits, including earning interest on their funds. Univest Gold account holders have nationwide surcharge-free ATM usage at all Univest and Allpoint Network ATMs. Customers also are provided $10 overdraft forgiveness and a courtesy overdraft limit of $1,250.   The Univest Blue account requires a minimum deposit of $50 at account opening, but no ongoing minimum balance is required. There are no monthly service fees, and Univest provides a courtesy overdraft limit of $750.   Chance to win a $500 Apple gift card As part of the launch of the two new checking accounts, Univest is offering a chance to win a $500 Apple gift card. When customers use their Univest debit card between October 1 and November 16, 2012, they'll be entered in a sweepstakes for a $500 gift card that they can use toward the purchase of an iPod, iPad, MacBook, iPhone 5 or other Apple product. Five, $500 gift card winners will be randomly selected from all entries. No purchase necessary to enter.  For complete contest rules, visit the Univest website.   More information on Univest Bank and Trust Co.'s new solutions can be found at www.univest.net.  Univest Bank and Trust Co. is Member FDIC.   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/october/univest-bank-and-trust-co-becomes-one-of-first-philadelphia-area-community-banks-to-offer-remote-deposit-for-consumers/ http://www.univest.net/news/2012/october/univest-bank-and-trust-co-becomes-one-of-first-philadelphia-area-community-banks-to-offer-remote-deposit-for-consumers/ Tue, 16 Oct 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., October 3, 2012-- Univest Corporation of Pennsylvania (listed on NASDAQ: UVSP) today announced its year-to-date financial giving to support its "Committed to Local" giving program. The company has donated more than $485,000 to support youth education and wellness development. Univest also launched a financial literacy initiative that will help teach local high school students about important financial concepts through a new media learning platform. The course of study, which will be offered at Bensalem High School, Spring-Ford Senior High School (Royersford) and Quakertown Community High School, covers topics including credit cards, taxes, credit scores, investing, savings and mortgages. The class is provided in partnership with EverFi, a leading education technology company focused on teaching students critical financial skills. The program uses video, animation, 3-D gaming, avatars and social networking to bring complex financial concepts to life for today's digitally adept students. In addition to these three schools, Univest is working to finalize partnerships with three other high schools in Montgomery and Bucks counties. "Univest is committed to helping our local high school students to become more knowledgeable about saving, investing and spending money," said Annette D. Szygiel, executive vice president and chief experience officer of Univest Corporation of Pennsylvania. "Financial management skills are even more important in today's tight economic conditions, so our investment in financial literacy comes at a critical time for these young men and women." Financial literacy for adults On October 24, Univest and the Credit Counseling Center (offices in Richboro, Doylestown and Levittown, Pa.) will conduct a free workshop for first-time home buyers at the Northampton Library in Richboro from 7:00 p.m. to 9:00 p.m. The workshop will be conducted by Joan Reading, president of the Credit Counseling Center, and Mike Keim, senior vice president of mortgage banking for  Univest Bank and Trust Co. Topics will include budgeting for a home purchase, credit scoring, fair housing, qualifying for a mortgage, the loan application process and the role of a Realtor ® . The program is open to the public, but seating is limited and reservations are required. For reservations, call 215-348-8003. Giving back to its communities Univest's third quarter 2012 contributions to address the financial needs in its communities totaled more than $250,000. Much of that giving focused on the "Committed to Local" program, including the company' participation in the Pennsylvania Department of Community & Economic Development's Educational Improvement Tax Credit (EITC) program. The EITC program supports private educational institutions in advancing their mission and unique educational services. The $485,000 contributed through the "Committed to Local" program so far this year is just a portion of Univest's total community contributions, which total $850,000 to date in 2012.  "Univest's 'Committed to Local' program is focused on making a difference in the lives of individuals right here in our own neighborhoods," said K. Leon Moyer, president and chief executive officer of Univest Bank and Trust Co. "One thing we have learned from the economic upheaval of the past two years is the importance of financial literacy and proactively taking charge of your own finances. We are committed to helping our neighbors - whether they are students in public or private schools or adults - make wiser decisions with their money."   About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.   For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net .  # # # This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.     http://www.univest.net/news/2012/september/univest-corporation-launches-financial-literacy-initiatives-for-high-school-students-and-home-buyers-continues-financial-contributions-through-“committed-to-local”-giving-program/ http://www.univest.net/news/2012/september/univest-corporation-launches-financial-literacy-initiatives-for-high-school-students-and-home-buyers-continues-financial-contributions-through-“committed-to-local”-giving-program/ Wed, 03 Oct 2012 00:00:00 EST Univest Bank and Trust Co. Pictured (left to right): Steve Pratt, vice president, Univest Bank and Trust Co.;  Kathy Arnold-Yerger, executive director, Montgomery County-Norristown Public Library; Annette Szygiel, executive vice president and chief experience officer, Univest Corporation.     SOUDERTON, Pa., August 21, 2012 - Univest Corporation awarded Montgomery County-Norristown Public Library $1,000 for winning the second quarter 2012 "Committed to Local" Facebook contest. Earning more than 70% of the vote, Montgomery County-Norristown Public Library beat out Chester County Library and Doylestown District Library for the prize.    This contribution is part of Univest's "Committed to Local" campaign which will invest an additional $100,000 in 2012 to advance the missions of local nonprofit organizations focused on youth education and wellness development. In the second quarter, Univest supported several libraries, giving more than $15,000 to summer reading programs and initiatives to foster literacy and education in our local community.     "We are proud to be able to support the Montgomery County-Norristown Library. It is truly a vibrant, bustling and integral part of our community," said Annette Szygiel, executive vice president and chief experience officer of Univest Corporation.  "Our "Committed to Local" program is focused on making a difference in the lives of individuals right here in our own neighborhoods, and we are certain this donation will do just that."    "We are thrilled to have won the Facebook contest, it is a true testament to the dedication of our patrons," said Kathy Arnold-Yerger, executive director of Montgomery County-Norristown Library.  "We appreciate the community support and thank Univest for the opportunity to participate.  The library is busier than ever, so the funds will be put to good use."    In addition to financial contributions, Univest employees have been involved in programs at local libraries throughout the summer to help educate youth on financial literacy and the value of saving early. This community involvement will continue throughout the remainder of the year as Univest employees have pledged to volunteer over 10,000 hours in local communities in 2012. As of June 30, 2012, Univest has partnered with 63 nonprofit organizations tied to youth education and wellness development and contributed nearly $234,000.     If registered 501 (c) (3) organizations are interested in applying for support from Univest's "Committed to Local" program applications can be found by going to univest.net . While Univest's "Committed to Local" initiative focuses solely on support for youth education and wellness development, Univest's overall philanthropic program also includes providing support to nonprofit and civic organizations operating in the areas of arts and culture. For more information, please contact Nicole O'Neil at 215-721-2450 or oneiln@univest.net.     About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.   For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . # # # http://www.univest.net/news/2012/august/univest-corporation-awards-$1,000-to-montgomery-county-norristown/ http://www.univest.net/news/2012/august/univest-corporation-awards-$1,000-to-montgomery-county-norristown/ Tue, 21 Aug 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., August 17, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and small ticket leasing subsidiaries, today declared a $0.20 per share quarterly cash dividend to be paid on October 1, 2012 to shareholders of record as of September 6, 2012. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/august/univest-corporation-declares-third-quarter-dividend/ http://www.univest.net/news/2012/august/univest-corporation-declares-third-quarter-dividend/ Fri, 17 Aug 2012 00:00:00 EST Univest Bank and Trust Co. Univest also introduces new Eaglet mascots, Buck and Penny, who will promote financial literacy among children       SOUDERTON, Pa. - July 27, 2012 - With Americans' personal saving rate - individual  and family savings as a percentage of disposable income - at a four-year low, Univest Bank and Trust Co.  offers 10 tips to help parents teach their children the importance of saving money. The bank also has introduced two new mascots - Buck and Penny , young American Eaglet twins - to help promote wise money management to children.   "The rate of personal saving in the United States has been low for years - and it has declined even further as the slow economic recovery continues to put pressure on family budgets," said Annette D. Szygiel, executive vice president and chief experience officer at Univest Corporation. "The U.S. Department of Commerce recently reported that Americans' personal saving rate was under four percent in May. That's the first time since early 2008 that the saving rate has been under four percent for four straight months. Now more than ever, parents must do everything possible to encourage their children to develop strong money-saving habits."   Experts acknowledge that the sooner children are taught about money and financial management, the more likely they'll become conscientious savers. To help parents get their children on the road to financial responsibility, Univest has introduced its new mascots, Buck and Penny, who will make appearances throughout the bank's communities to promote financial literacy.   Here are Univest Bank and Trust Co.'s top 10 tips for teaching children to save:  Set a good example. Most of what children learn about money during their early childhood comes from observing their parents. One of the best things you can do is let your children see that you save money, too. Put money in a jar and tell him or her it is your savings jar. When you go to the bank to make a deposit, take your children with you. When you model responsible money management behavior, your kids will notice and mimic you. Teach your children about saving at an early age. Talk about the importance of saving money early in your children's lives.  Most children start to learn about counting and money when they are in the first or second grade. By the time they are teenagers, children have developed the money habits they will keep throughout their lives. Give your children an allowance. An allowance teaches kids how to earn, save, invest, spend, budget, delay gratification and make wise purchasing decisions. An allowance also can be used to teach them that money is something they earn - not something they're entitled to. Open a savings account. Opening an account helps teach children important lessons about saving and investing. Kids think ATMs are magic. They don't understand that you have to deposit more than you withdraw. Take your children shopping. A grocery store is a great place to show kids how to compare prices - the price per ounce, for example. Show them that just because something is on sale doesn't mean it's the best value. Help your children learn the difference between needs and wants. This will prepare them for making good spending decisions in the future. And encourage children to identify fun things to spend their money on - things they can eventually buy if they manage their money wisely. Encourage your children to set money saving goals. People of any age rarely reach goals they haven't set. Teaching your child to set goals and work for results helps teach them how to make decisions, be disciplined and become responsible for themselves. It helps them create self-esteem, too. Teach your children the value of work and a strong work ethic. Encourage your children to work for money - whether it is extra chores around the house, selling lemonade in the neighborhood, babysitting, mowing lawns, shoveling snow - or, for older children, working a weekend or summer job. Allow your children to make spending decisions. Whether the decisions are good or bad, they will learn from their spending choices. Offer rewards for saving money. Consider rewarding your child for saving his or her money. For example, if your child doesn't spend any money for a certain amount of time, provide a small reward or treat. Or try matching a portion of your child's savings, which is a great way to encourage your child to save extra money.   In January 2011, Univest launched its Eaglet savings account, a children's savings program. The account, designed to grow with young savers, focuses on teaching children the value of saving their "bucks" and spending their "pennies" wisely. The savings club has no minimum balance and offers young savers benefits including a $10 deposit by Univest and complimentary gift when the account is opened, guaranteed interest and birthday rewards until age 18.   Schools, libraries or other organizations that would like to invite Univest's Eaglet mascots Buck and Penny to participate in a special event or community activity can contact Univest's corporate communications team at 215-721-2450. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.  http://www.univest.net/news/2012/july/top-10-tips-on-how-to-teach-kids-to-save/ http://www.univest.net/news/2012/july/top-10-tips-on-how-to-teach-kids-to-save/ Fri, 27 Jul 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., July 25, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and small ticket leasing subsidiaries, today announced financial results for the quarter ended June 30, 2012. Univest reported net income of $4.8 million or $0.28 diluted earnings per share for the quarter ended June 30, 2012, a 5% increase in net income compared to $4.5 million or $0.27 diluted earnings per share for the quarter ended June 30, 2011. Net income for the six months ended June 30, 2012 was $10.0 million or $0.60 diluted earnings per share, compared to $8.4 million or $0.50 diluted earnings per share for the comparable period in the prior year.  Loans Gross loans and leases increased $5.6 million from March 31, 2012, $19.0 million from December 31, 2011 and $26.7 million from June 30, 2011.The growth in loans occurred primarily in the commercial and residential mortgage categories. While the Corporation continued to see increased loan activity in the first six months of 2012, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the prolonged challenging economic environment. Deposits Total deposits increased $13.9 million from March 31, 2012, decreased $5.3 million from December 31, 2011 and increased $122.6 million from June 30, 2011. Deposits, excluding public funds, grew $38.1 million from March 31, 2012 and $102.1 million from June 30, 2011; the growth from December 31, 2011 of $51.2 million was offset by a decrease in public funds of $56.5 million. This continued growth, excluding public funds, was primarily due to new customers choosing Univest.   Net Interest Income and Margin Net interest income decreased $834 thousand or 4% to $18.1 million in the second quarter of 2012 compared to the second quarter of 2011. The net interest margin on a tax-equivalent basis for the second quarter of 2012 was 3.97%, compared to 3.95% during the first quarter of 2012, and down from 4.24% in the second quarter of 2011. Net interest income decreased $1.5 million or 4% to $36.3 million for the six months ended June 30, 2012 compared to the same period in 2011. The net interest margin on a tax-equivalent basis for the six months ended June 30, 2012 was 3.96% compared to 4.24% for the six months ended June 30, 2011. The declines in net interest income and the net interest margin were primarily due to the re-investment of maturing and called investment securities with lower yielding investments, as a result of the lower interest rate environment and lower rates on commercial loans due to re-pricing and competitive pressures. The decline in net interest income and the net interest margin was partially offset by re-pricing of certificates of deposits and savings account products. The net interest margin also declined from excess cash funds invested in low rate, interest-earning deposits as credit demand remains light and the Corporation continues to keep the investment portfolio short-term. Average year-to-date, interest-earning deposits with the Federal Reserve Bank increased $41.5 million from the comparable period in the prior year. Non-Interest Income Non-interest income for the quarter ended June 30, 2012 was $8.0 million, a decrease of $696 thousand or 8% from the comparable period in the prior year. The second quarter of 2012 included a fair value write-down on one other real estate owned property of $1.1 million based upon the current appraised value of the commercial property. During the second quarter of 2011, the net loss on sales and write-downs of other real estate owned was $265 thousand. Service charges on deposits declined $277 thousand during the second quarter of 2012 from the same period in 2011. This decline is primarily due to changes in industry practices to benefit consumers related to non-sufficient funds and overdraft fees, which were implemented in July 2011. In addition, the net gain on sales of securities was $24 thousand for the second quarter of 2012 compared to $569 thousand during the second quarter of 2011. Partially offsetting these unfavorable variances was an increase in the net gain on mortgage banking activities of $746 thousand which was primarily attributed to stronger mortgage demand from increased re-finance activity. Non-interest income for the six months ended June 30, 2012 was $19.0 million, an increase of $2.6 million or 16% compared to $16.5 million for the six months ended June 30, 2011. The increase was primarily attributable to an increase in the net gain on mortgage banking activities of $2.0 million due to stronger mortgage demand from increased re-finance activity and proceeds from bank owned life insurance death benefits of $989 thousand recognized during the first quarter of 2012. These favorable variances were partially offset by an increase in the net loss on sales and write-downs of other real estate owned of $485 thousand and a decline in service charges on deposits of $513 thousand. The decline in service charges on deposits is primarily due to changes in industry practices to benefit consumers. Non-Interest Expense Non-interest expense for the second quarter of 2012 was $18.6 million, an increase of $2.2 million or 14% compared to the second quarter of 2011. Salaries and benefits expense increased $1.1 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives and annual performance increases. Additionally, non-interest expense increased due to higher advertising, loan workout and equipment expenses. Non-interest expense for the six months ended June 30, 2012 was $37.5 million, an increase of $4.4 million or 13% compared to the six months ended June 30, 2011. Salaries and benefits expense increased $3.7 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives, annual performance increases and lower deferred loan origination costs. Additionally, non-interest expense increased due to higher loan workout and equipment expenses. The increases for the year-to-date were partially offset by a decline in deposit insurance premiums of $267 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment on the average consolidated total assets less average tangible equity.  Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $36.8 million at June 30, 2012 from $38.2 million at December 31, 2011 and $43.5 million at June 30, 2011. The decrease in non-accrual loans was mainly due to charge-offs and pay-downs exceeding additions to non-accrual loans. Net loan and lease charge-offs were $1.4 million during the second quarter of 2012 compared to $5.8 million for the second quarter of 2011. For the six months ended June 30, 2012, net loan and lease charge-offs were $4.8 million compared to $9.0 million for the six months ended June 30, 2011. The decrease in net charge-offs was primarily due to a higher level of commercial real estate and commercial business loan charge-offs during the second quarter of 2011 related to several large credit relationships.   Nonperforming loans and leases as a percentage of total loans and leases were 3.05% at June 30, 2012 compared to 2.94% at December 31, 2011 and 3.42% at June 30, 2011. Other real estate owned decreased to $3.9 million, consisting of three properties at June 30, 2012, down from $6.6 million at December 31, 2011 and $5.0 million at June 30, 2011. During the second quarter of 2012, one commercial property was written down to its updated appraised value, resulting in an impairment charge of $1.1 million. During the first quarter of 2012, one commercial property with a carrying value of $1.3 million was sold for $1.5 million resulting in a gain on sale of $210 thousand. The provision for loan and lease losses declined to $1.3 million for the second quarter of 2012 compared to $5.6 million for the quarter ended June 30, 2011. The decline in the provision was primarily the result of the migration and resolution of loans through the loan workout process and a decrease in historical loss factors for commercial real estate loans. The allowance for loan and lease losses as a percentage of total loans and leases was 2.08% at June 30, 2012 compared to 2.07% at December 31, 2011 and 2.27% at June 30, 2011. The allowance for loan and lease losses to nonperforming loans and leases equaled 68.18% at June 30, 2012, compared to 70.34% at December 31, 2011 and 66.26% at June 30, 2011.  Capital Univest continues to remain well-capitalized at June 30, 2012. Univest's total risk-based capital at June 30, 2012 was 15.64%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital. During the quarter, Univest deployed $386 thousand of capital to repurchase 24,816 shares of common stock through the stock repurchase program. Maximum shares available for future repurchases through the plan at June 30, 2012 was 541,929. Total shares outstanding at June 30, 2012 were 16,759,893. Dividend On July 2, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.75% annualized yield based on the closing price of Univest's stock on the date the dividend was paid. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/july/univest-corporation-reports-second-quarter-earnings/ http://www.univest.net/news/2012/july/univest-corporation-reports-second-quarter-earnings/ Wed, 25 Jul 2012 00:00:00 EST Univest Bank and Trust Co. Univest has been warned of a recent scam which affects utility customers. The Better Business Bureau (BBB) has released the information below warning customers about this fraudulent activity. Please be alert to individuals wanting to assist you with a new federal government utility assistance program. The BBB has issued a nationwide warning about a new scam claiming that President Obama will pay your utility bills through a new federal program. How the scam works: Consumers have been contacted through telephone calls, fliers, social media and text messages with claims that President Obama is providing credits or applying payments to utility bills. To receive the money, scammers claim they need the consumer's social security and bank routing numbers. In return, customers are given a fraudulent bank routing number to pay their utility bills through the automated telephone payment service. The payment service initially 'accepts' the payment but then declines it within a few days when the bank account number is discovered to be fake. The BBB has these tips to avoid becoming a victim of this scam: Never provide your social security number, credit card number or banking information to anyone requesting it who calls you, regardless of whom they claim to be representing. If you receive a call claiming to be your utility company and feel pressured for immediate payment or personal information, hang up the phone and call the customer service number on your utility bill. Never allow anyone into your home to check electrical wiring, natural gas pipes or appliances unless you have scheduled an appointment or have reported a utility problem. Also, ask utility employees for proper identification. Always think safety first. Do not give in to high pressure tactics over the phone for information or in person to get into your home. For more information about identity theft scams, please visit The Better Business Bureau . http://www.univest.net/news/2012/july/better-business-bureau-warns-new-scam-claims-president-obama-will-pay-your-utility-bills/ http://www.univest.net/news/2012/july/better-business-bureau-warns-new-scam-claims-president-obama-will-pay-your-utility-bills/ Thu, 12 Jul 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., July 5, 2012 - Univest Corporation today announced the second quarter 2012 "Committed to Local" Facebook contest.  As part of a focus on supporting summer educational opportunities, Univest has selected three local libraries to compete for the $1,000 donation: Chester County Library and DistrictCenterin Exton, Doylestown District Library and Montgomery County-Norristown Library.  Individuals can show support for their local library by visiting the Univest corporate Facebook page at http://www.facebook.com/UnivestCorporation and voting for their favorite. The poll will run through July 20 and the library with the most votes will receive $1,000 from Univest.   These quarterly contributions are part of Univest's pledge to provide more than a million dollars to local non-profit organizations in 2012.  In addition to financial contributions, Univest employees will be involved in programs throughout the summer, helping educate youth on financial literacy and teaching the value of saving early.  Special events will be held at North Wales Library on July 24 and the Upper Perkiomen Library on August 7.  The winner of the first quarter "Committed to Local" contest wasBucksCountyCommunity College, beating outMontgomeryCountyCommunity CollegeandLehighCarbonCountyCommunity Collegefor the $1,000 prize. "Through our "Committed to Local" program, Univest is focused on making a difference in the lives of individuals right here in our own neighborhoods," said William S. Aichele, chairman, president and chief executive officer of Univest Corporation. "This quarter, we focused a portion of our support on libraries and other organizations that provide educational opportunities that entertain and enlighten youth during summer break. We realize this is a difficult time for funding for these organizations and wanted to do our part to make a difference both through financial support and involvement." In addition to giving financially through the "Committed to Local" initiative, Univest employees have pledged to volunteer over 10,000 hours this year in local communities.  If registered 501(c) 3 organizations are interested in applying for support from Univest's "Committed to Local" program applications can be found by going to univest.net . While Univest's "Committed to Local" initiative focuses solely on support for youth education and wellness development, Univest's overall philanthropic program also includes providing support to nonprofit and civic organizations operating in the areas of arts and culture. For more information, please contact Nicole O'Neil at 215-721-2450.  About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties.   For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net .   # # # http://www.univest.net/news/2012/july/univest-corporation-launches-second-quarter-“committed-to-local”-contest-on-facebook-winning-library-to-receive-$1,000-donation/ http://www.univest.net/news/2012/july/univest-corporation-launches-second-quarter-“committed-to-local”-contest-on-facebook-winning-library-to-receive-$1,000-donation/ Thu, 05 Jul 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa, July 2, 2012 -- Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. and its insurance, investments and small ticket leasing subsidiaries, today announced the promotions of Jeffrey M. Schweitzer to chief operating officer for Univest Corporation and Eric W. Conner to executive vice president and chief technology officer for Univest Corporation and Univest Bank and Trust Co.  Schweitzer joined Univest in October 2007 as executive vice president and chief financial officer for Univest Corporation and Univest Bank and Trust Co.  In January 2011, Schweitzer was promoted to senior executive vice president and chief financial officer of Univest Corporation and Univest Bank and Trust Co.  He will retain this role in addition to his new responsibility as chief operating officer, which encompasses managing financial risks, record-keeping initiatives, developing and implementing strategic financial plans, overseeing various support functions and niche lines of business including all of Univest's technology and operational areas. Eric W. Conner joined Univest in April 2006 as vice president and director of e-commerce.  Conner was promoted in July 2009 to senior vice president and director of e-commerce and consumer services.  In this role, he developed and implemented Univest's customer service center and launched several online and mobile convenience services to improve customer experiences and remain competitive.  In his new role, Conner is responsible for the overall strategic direction and implementation of all technology initiatives at Univest Corporation, the Bank and its subsidiaries.  In addition to their responsibilities at Univest, both Schweitzer and Conner volunteer for nonprofit organizations in the local community.  Schweitzer is on the Board of Directors of the North Penn and Indian Valley Boys and Girls Club.  Additionally he serves on the steering committee for PerkUp of the Upper Perkiomen Valley.  Schweitzer resides in Skippack.  Conner is a coach for Harleysville Baseball and also is on the Elder Board at Faith Bible Fellowship Church.  He resides in Telford. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/july/univest-announces-executive-promotions/ http://www.univest.net/news/2012/july/univest-announces-executive-promotions/ Mon, 02 Jul 2012 00:00:00 EST Univest Bank and Trust Co. Contrary to some news reports, "loans are available, and at attractive terms." SOUDERTON, Pa, June 25, 2012 ---- Univest Bank and Trust Co. SM , an SBA Preferred Lender and a leading community bank lender in the Philadelphia region based on small business loan volume, is advising locally owned and operated businesses of the limited time now available to apply for SBA 504 loans under an advantageous temporary Small Business Administration lending program. Univest, the full-service banking subsidiary of Univest Corporation of Pennsylvania (NASDAQ: USVP), previously announced the availability of $60 million to lend through the program. "The SBA implemented the program under the Small Business Jobs Act, and it is authorized until September 27, 2012," said Patricia J. Kratz, vice president of corporate banking and SBA officer for Univest Bank and Trust Co. "This is an excellent opportunity for businesses of all sizes, but with the deadline quickly approaching, loan applicants only have until mid- to late July to apply for the loans and secure financing within the program. Much of the $60 million Univest committed to lending under this program is still available to eligible businesses." The temporary SBA program provides businesses the opportunity to lock in long-term, stable financing at attractive rates, finance eligible business expenses, protect jobs and hire additional workers. It enables borrowers to finance up to 90 percent of the appraised value of available collateral. This allows borrowers with more than 10 percent equity to obtain additional proceeds to pay for eligible business expenses. In addition, the program allows any business with a commercial mortgage that is two or more years old to refinance its debt, regardless of mortgage maturity. "Participating in the temporary SBA lending program is just another way we at Univest demonstrate our commitment to our local community," said Philip C. Jackson, president of corporate banking at Univest Bank and Trust Co. "Some news reports suggest that money is not available for small businesses looking to finance business expansion, retain current jobs and hire new workers. To the contrary, loans are available, and at attractive terms." Businesses interested in applying should contact Pat Kratz at 215-721-2449. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/june/univest-corporation-advises-local-businesses-time-running-out-on-temporary-sba-lending-program/ http://www.univest.net/news/2012/june/univest-corporation-advises-local-businesses-time-running-out-on-temporary-sba-lending-program/ Mon, 25 Jun 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa, June 15, 2012 ---- Think you don't need a vibrant public library? Think again. The recessionary economy of the past few years has put tremendous pressure on public resources that depend upon local taxes. Budgets for public schools, public parks, a variety of community events and other community institutions have been threatened with underfunding or no funding at all. Of particular concern to us at Univest Corporation is the underfunding of our communities' local libraries. The Indian Valley Public Library, the North Wales Area Library and the Upper Perkiomen Valley Library are prime examples. Next year, each of these important community institutions will be challenged to find new funding as money from state and local governments is expected to diminish. The Indian Valley Library faces the additional challenge of making up a $440,000 budget shortfall due to the Souderton Area School District's decision to end financial support for the library. (The school district, by the way, is among the last in Montgomery County to continue their funding of public libraries, and they should be commended for their long-time support of this vital community resource.) At a time when the Internet and a variety of electronic devices provide access to all kinds of information without visiting a library, conventional wisdom holds that libraries are not as important today as they used to be. However, that certainly isn't the case with Montgomery County's public libraries. The Indian Valley Library last year served 292,000 people - an average of 800 people every day. Since its move to a revitalized factory in January 2010, the North Wales Library has seen circulation of library materials more than double, and the number of registered patrons has tripled. And the Upper Perkiomen Valley Library welcomed more than 300 children to their summer reading program in 2011 and circulated nearly 27,500 children's books over the course of the year. Our libraries are serving the public in new ways, too, providing much more than just books and periodicals. Today you'll find services such as free computer use and wireless Internet access; audiobooks and e-books; a variety of research databases including health and wellness and career resources; discussion groups, programs, lectures and classes for people of all ages; story times, early literacy games and special programs for preschoolers; public meeting rooms; and much more. Whether you are just learning to read, a high school or college student seeking in-depth information for a project or paper, an adult looking for guidance on the purchase of a new car or on navigating the Medicare system, or an unemployed worker seeking job opportunities or career advice, the library remains an incredibly valuable public resource. Without additional funding, the library's resources may not continue to be available to us. Libraries throughout the region have already cut staffing and curtailed book purchases. The next step for many could be reduced hours, and that's something our communities cannot afford. At Univest, our "Committed to Local" initiative includes support for youth education and wellness development - and we believe that our libraries play an integral role in both areas. We encourage members of our communities to take advantage of all the resources our libraries offer and to support their missions of serving as gateways to lifelong learning. You can do both by bringing elementary school-aged children to a "Teaching Kids to Save" event at the Indian Valley Library on June 16, the North Wales Library on July 17 or the Upper Perkiomen Valley Library on August 8. Further, we encourage the residents and businesses of Montgomery County to support increased funding for these valuable community resources. Our libraries need you. And, now - more than ever - our communities need a strong, vibrant public library system. Sincerely, William S. Aichele Chairman, President and CEO Univest Corporation About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.   http://www.univest.net/news/2012/june/univest-library-editorial/ http://www.univest.net/news/2012/june/univest-library-editorial/ Fri, 15 Jun 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa, May 31, 2012 -- Univest Corporation of Pennsylvania (listed on NASDAQ: UVSP) and its insurance subsidiary, Univest Insurance, Inc., today announced the acquisition of Javers Group, a full-service employee benefits agency that specializes in comprehensive human resource management, payroll and administrative services to businesses with 50 to 1,000 employees. The acquisition, completed on May 31, 2012, expands Univest's insurance and employee benefits business and further diversifies its solutions to include human resource consulting services and technology. "Growth of the Univest Insurance business through acquisition is part of our long term strategy to diversify our business, giving consumers and businesses in the region convenient access to a complete range of financial solutions from one company," said William S. Aichele, chairman, president and CEO of Univest Corporation. "Javers' experienced team of professionals strengthens Univest's ability to serve the insurance, benefits, workers' compensation and human resources needs of businesses and individuals." Javers Group, founded in 1999 by its president Chris Wichser, has consistently been honored for its expertise in human resource management and significant growth throughout the Mid-Atlantic region. In 2005 they became an Alliance Partner of ADP, one of the world's largest providers of human resource, payroll, tax and business administration outsourcing solutions. In 2011, Javers ranked number one in the country for the second consecutive year in ADP's Group Health Alliance program based on business growth. It also was one of four companies honored in Pennsylvania as a Gold Member by United Healthcare for being a top performing benefits provider. "Javers Group's outsourcing services and technologies allow companies to reduce or eliminate time spent on human resource responsibilities and cut administrative costs," stated Ronald R. Flaherty, president of Univest Insurance, Inc. "While the company primarily serves businesses with more than 50 employees, they have a strong reputation for delivering a unique blend of high quality human resource programs and using innovative systems to design an affordable solution for any size business." Javers is headquartered in Berwyn, Pa., and also operates offices in New York, New Jersey and Maryland. Univest will retain all company employees, relocating staff from the Berwyn office to its current insurance office in West Chester, Pa. Javers Group employees working from offices out of state will continue to operate in their current locations. Javers Group will immediately begin operating under the name Univest Insurance, Inc. The acquisition of Javers Group is Univest's second acquisition of an employee benefits solutions company in the last five years. In December 2008, Univest acquired Liberty Benefits, Inc., a full service employee benefits brokerage and consulting firm specializing in comprehensive employee benefits packages for businesses with two to 500 employees. About Univest Insurance, Inc. Univest Insurance, Inc., headquartered in Lansdale, Pa. is an independent insurance agency, providing property and casualty insurance, employee benefits, and life, health and disability insurance for individuals, businesses and nonprofit clients. Univest Insurance also has offices in West Chester, Chester County and Upper Marlboro Township, MD. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/may/univest-corporation-expands-insurance-subsidiary-through-acquisition-of-employee-benefits-agency,-javers-group/ http://www.univest.net/news/2012/may/univest-corporation-expands-insurance-subsidiary-through-acquisition-of-employee-benefits-agency,-javers-group/ Thu, 31 May 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., May 23, 2012 - Univest Corporation of Pennsylvania (NASDAQ: UVSP) , a full service financial institution with more than 135 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investments and wealth advisory solutions, declared today a $.20 per share quarterly cash dividend to be paid on July 2, 2012 to shareholders of record as of June 7, 2012. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/may/univest-corporation-declares-second-quarter-dividend/ http://www.univest.net/news/2012/may/univest-corporation-declares-second-quarter-dividend/ Wed, 23 May 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., April 25, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ) parent company of Univest Bank and Trust Co. SM , a full-service financial institution with more than 135 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investment and wealth advisory solutions, today announced financial results for the first quarter ended March 31, 2012. Univest reported net income of $5.3 million or $0.31 diluted earnings per share for the quarter ended March 31, 2012, a 36% increase in net income compared to $3.9 million or $0.23 diluted earnings per share for the quarter ended March 31, 2011. Loans Gross loans and leases increased $13.4 million from December 31, 2011 and increased $17.7 million from March 31, 2011. Commercial loans increased $7.9 million and residential mortgage loans increased $7.0 million during the quarter. While the Corporation continued to see increased loan activity in the first quarter, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the prolonged challenging economic environment. Deposits Total deposits decreased $19.2 million from December 31, 2011 and increased $64.8 million from March 31, 2011. Core deposits, excluding public fund deposits, increased $18.2 million for the quarter and $83.7 million from March 31, 2011, primarily due to new customers choosing Univest. Net Interest Income and Margin Net interest income decreased $645 thousand or 3% to $18.2 million in the first quarter of 2012 compared to the first quarter of 2011. The net interest margin on a tax-equivalent basis for the first quarter of 2012 was 3.95%, flat compared to 3.96% during the fourth quarter of 2011, and down from 4.24% in the first quarter of 2011. The decline in net interest income and the net interest margin during the first quarter of 2012 from the same period in the prior year was primarily due to the re-investment of maturing and called investment securities with lower yielding investments due to the lower interest rate environment and lower rates on commercial business loans due to re-pricing and competitive pressures. The decline in net interest income and the net interest margin was partially offset by re-pricing of certificates of deposits and savings account products. The net interest margin also declined from excess cash funds invested in low rate, interest-earning deposits as credit demand remains light and the Corporation continues to keep the investment portfolio short. Average interest-earning deposits with the Federal Reserve Bank increased $50.5 million from the comparable period in the prior year. Non-Interest Income Non-interest income for the quarter ended March 31, 2012 was $11.0 million, an increase of $3.3 million or 42% from the comparable period in the prior year. The increase was primarily attributed to proceeds from bank owned life insurance death benefits of $989 thousand and an increase in the net gain on mortgage banking activities of $1.3 million due to stronger mortgage demand from increased re-finance activity. In addition, other income increased $616 thousand mainly due to a decrease in net loss on sales and write-downs of other real estate owned and positive valuation adjustments on mortgage servicing rights. During the first quarter of 2012, the Corporation recorded a net loss on sales and write-downs of other real estate owned of $31 thousand compared to $352 thousand for the same period in the prior year. During the first quarter of 2012, the Corporation reversed $212 thousand of negative valuation adjustments on mortgage servicing rights recorded primarily during the third quarter of 2011. In addition, the first quarter of 2012 included a net gain on sales of securities of $258 thousand. Partially offsetting these favorable variances was a decline in service charges on deposits of $236 thousand. This decline is primarily due to changes in industry practices to benefit customers impacting non-sufficient funds and overdraft fees, which were implemented in July 2011. Non-Interest Expense Non-interest expense for the first quarter of 2012 was $18.9 million, an increase of $2.1 million or 13% compared to the first quarter of 2011. Salaries and benefits expense increased $2.6 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives, annual performance increases, and lower deferred loan origination costs. The increases for the quarter were partially offset by a decline in deposit insurance premiums of $269 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment on the average consolidated total assets less average tangible equity. Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $36.3 million at March 31, 2012 from $38.2 million at December 31, 2011 and $38.6 million at March 31, 2011. The decrease in non-accrual loans was mainly due to charge-offs and pay-downs exceeding additions to non-accrual loans. Accruing troubled debt restructured loans increased to $7.3 million at March 31, 2012 from $3.9 million at December 31, 2011, primarily due to the restructuring of loans for three borrowers in the commercial business, commercial real estate and construction loan categories. Accruing troubled debt restructured loans were $5.1 million at March 31, 2011. Net loan and lease charge-offs were $3.4 million during the first quarter of 2012 compared to $4.3 million and $3.2 million for the fourth and first quarters of 2011, respectively. Nonperforming loans and leases as a percentage of total loans and leases were 3.02% at March 31, 2012 compared to 2.94% at December 31, 2011 and 3.07% at March 31, 2011. Other real estate owned decreased to $5.0 million, consisting of three properties at March 31, 2012, down from $6.6 million at December 31, 2011 and $6.1 million at March 31, 2011. During the first quarter of 2012, one property with a carrying value of $1.3 million was sold for $1.5 million resulting in a gain on sale of $210 thousand. The provision for loan and lease losses was $4.1 million for the first quarter of 2012 compared to $3.1 million for the quarter ended December 31, 2011 and $5.1 million for the quarter ended March 31, 2011. The allowance for loan and lease losses as a percentage of total loans and leases was 2.10% at March 31, 2012 compared to 2.07% at December 31, 2011 and 2.27% at March 31, 2011. The allowance for loan and lease losses to nonperforming loans and leases equaled 69.39% at March 31, 2012, compared to 70.34% at December 31, 2011 and 74.12% at March 31, 2011. Capital Univest continues to remain well-capitalized at March 31, 2012. Univest's total risk-based capital at March 31, 2012 was 15.76%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital. Dividend On April 2, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.66% annualized yield based on the closing price of Univest's stock on the date the dividend was paid. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/april/univest-corporation-reports-first-quarter-earnings/ http://www.univest.net/news/2012/april/univest-corporation-reports-first-quarter-earnings/ Wed, 25 Apr 2012 00:00:00 EST Univest Bank and Trust Co. Sponsorship Raises Money for the Lehigh Valley Zoo SOUDERTON, Pa., April, 12, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co., a full-service financial institution with over 135 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investment and wealth advisory solutions*, recently signed a sponsorship agreement with the Lehigh Valley Iron Pigs baseball team to help raise money for the Lehigh Valley Zoo, whose mission is to create a safe, engaging and enlightening wildlife experience for guests of all ages as it demonstrates leadership in the cultural, scientific and conservation communities. The sponsorship, "Double Plays Pay" provides a $25 donation to the Lehigh Valley Zoo each time the Iron Pigs turn a double play. "Univest is proud to partner with the Iron Pigs to raise funds for the Lehigh Valley Zoo," said Phil Jackson, corporate banking market president. "For over 135 years, Univest has helped our customers and communities to 'Believe in the Power of Local' by providing financial solutions, community leadership and volunteer support to the local communities we serve. We're delighted to have the opportunity to go to bat and raise money for the Lehigh Valley Zoo. Each year of the partnership with the Iron Pigs, Univest has helped a different nonprofit. In 2011, the monies raised went to the Boys & Girls Club of Allentown, in 2010 to Big Brothers Big Sisters Lehigh Valley and in 2009, the Double Plays Pays program supported Dream Come True. *Investment and insurance products are offered through Univest Investments, Inc., member FINRA/SIPC, and Univest Insurance, Inc., licensed non-bank subsidiaries of Univest Corporation of Pennsylvania. About Univest Corporation Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest Bank and Trust Co. SM , a member of the FDIC and an Equal Housing Lender, offers customers 32 financial service centers , 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. , a small ticket commercial finance business; Univest Insurance, Inc. , an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc. , a member of FINRA and SIPC and a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . About Lehigh Valley Zoo Lehigh Valley Zoo's core purpose - to save species from extinction - inspires our work, our conservation education programs, and our leadership in wildlife conservation. Lehigh Valley Zoo, located in the Central Range of the scenic 1,100-acre Trexler Nature Preserve, is home to more than 275 animals representing 70 species - from African Penguins to Zebras. The Zoo's animal collection includes sixteen species classified as endangered, threatened, or species of concern: Kordofan Aoudad, Bobcat, West African Black Crowned Crane, Red Kangaroo, Laughing Kookaburra, Mongoose Lemur, Canada Lynx, Scimitar Horned Oryx, North American River Otter, Snowy Owl, African Penguin, Prehensile-Tailed Porcupine, Trumpeter Swan, Tammar Wallaby, Mexican Gray Wolf, and Plains Zebra. Accredited by the Association of Zoos and Aquariums, the Zoo hosts family-friendly events, educational programs and camps. In 2011, attendance reached over 100,000 and over 30,000 students experienced our formal conservation education programs that meet Pennsylvania Assessment Anchors and Eligible Content Standards. Voted Best Family Day Trip in The Morning Call's Readers' Choice Awards for 2009, 2010 and 2011, the Zoo is open year-round and is operated by the Lehigh Valley Zoological Society, a private nonprofit organization. For information on how to support the Zoo, current operating hours, admission rates, Zoo Reach Program (Zoo Comes to You!), volunteer opportunities and event details, visit http://www.lvzoo.org/ , join our Facebook Page, or follow us on Twitter. Lehigh Valley Zoo is listed as an educational improvement organization under the Educational Improvement Tax Credit Program (EITC).  http://www.univest.net/news/2012/april/univest-bank-participates-in-lehigh-valley-iron-pigs-double-plays-pay-sponsorship/ http://www.univest.net/news/2012/april/univest-bank-participates-in-lehigh-valley-iron-pigs-double-plays-pay-sponsorship/ Thu, 12 Apr 2012 00:00:00 EST Univest Bank and Trust Co. Univest Plans to Contribute More than $1 Million to Local Nonprofits in 2012 SOUDERTON, Pa., March 27, 2012 - Univest Corporation of Pennsylvania (NASDAQ: UVSP) , parent company of Univest Bank and Trust Co. SM , a full service financial institution with more than 135 years of experience in delivering financial solutions, launched its "Committed to Local" giving campaign - the initiative announced last fall to invest an additional $100,000 in 2012 to advance the missions of local nonprofit organizations and help make a difference in the lives of individuals in need right here in our neighborhoods. The announcement and first round of charitable donations was made at a press conference held today at the Central Bucks Family YMCA in Doylestown, Pa. Univest Bank and Trust Co. SM 's president and chief executive officer K. Leon Moyer explained at the conference how the initiative was developed after Univest saw increased requests for financial support coming from the nonprofit community as the prolonged tough economic cycle brought increased challenges to many local organizations. "Nonprofits locally are losing funding streams at the same time the demand for services increases,' said Moyer. "While Univest has always supported the communities in which we serve, 'Committed to Local' is our way of responding to the growing needs this economic climate has brought to our local community. We are proud to be in a position to step up, increase our investment and partner with various nonprofits to make a positive difference in the lives of those in need." Through the "Committed to Local" giving program, Univest is partnering with nonprofit organizations that focus on youth education and wellness development. During the first quarter of 2012, Univest partnered with 30 nonprofit organizations tied to these two areas and contributed $172,500, approximately a 35% increase over the first quarter of last year. Five benefiting Bucks County nonprofit organizations joined Univest at the event, including the host of the conference - the Central Bucks Family YMCA, the Ann Silverman Community Health Clinic, CB Cares, Quakertown Christian School and Delaware Valley College. Administrators, executive directors, staff and teens benefitting from the support in attendance represented approximately $66,000 of the donations, a significant portion of the overall "Committed to Local" support from Univest Corporation during the first quarter. The support will help their nonprofit organizations fund new programs, keep existing programs running, offer scholarships and provide needed medical services for uninsured individuals. Perhaps the "Committed to Local" program can also be described as providing opportunities, as the funds Univest has made available to support programs such as the 7th grade free membership program at the Central Bucks Family YMCA are positively impacting teens. "The free 7th Grade Membership makes accessible the support and opportunities that empower youth to reach their personal potential and live life to the fullest through healthy and responsible choices," said Zane Moore, president and CEO of the Central Bucks Family YMCA. "It is during these critical early teen years that young people begin to experiment with their independence. We not only want to be there at this time of need, but also to provide these students with the knowledge, skills, character, and passion to be more active in the community as adults." It is insightful to learn of the impacts these programs have from the leadership teams, but it is even more meaningful when you learn of the difference services make from individuals actually using the programs. "I love being a part of the YMCA and having a chance to meet new friends from other schools," said Carmen Navia, the current teen leader at the Central Bucks Family YMCA. "The 7th grade initiative and the overall program tailored to the needs of teens at the YMCA provide amazing opportunities to many children who can't afford memberships. On behalf of the 7th graders in our program, I'd like to thank Zane and everyone involved in making this possible." In addition to announcing its initial support through "Committed to Local," Univest also highlighted its overall philanthropic commitment to contribute financially just over $1 million to the local community and volunteer more than 10,000 hours to area nonprofits. In addition to selecting organizations and distributing funds through their traditional process, Univest is allowing the community to participate in a new way. Univest is giving the community a chance to vote on their favorite nonprofit each quarter through a Facebook poll, which can be found on their corporate Facebook page at www.facebook.com/univestcorporation . Each quarter, Univest will identify a few local organizations tied to youth education and wellness development and allow all "friends" of Univest Corporation to vote for the winner. The first quarter poll includes area community colleges including Bucks County, Montgomery County and Lehigh-Carbon County colleges. The poll will be live by 5:00 p.m. on Tuesday, March 27 and continue through Sunday, April 15. The organization with the most votes will win $1,000 from Univest. "We take our role as a corporate citizen seriously," said William S. Aichele, chairman, president and chief executive officer of Univest Corporation, who also was in attendance. "Like many businesses, Univest has a mission statement and a core value that focuses on community. While many corporations print these words, our 'Committed to Local' program is an example of how we live them out every day. Our mission and our core values aren't just statements. Together with our employees, we embrace the vision of what these guiding principles mean and what they can do for the future success of our communities." If registered 501(c) 3 organizations are interested in applying for support from Univest's "Committed to Local" program, applications can be found at https://www.univest.net/online_univest_support.aspx . While Univest's "Committed to Local" initiative focuses solely on support for youth education and wellness development, Univest's overall philanthropic program also includes support to nonprofit and civic organizations operating in the areas of arts and culture. For more information, please contact Kim Detwiler, senior vice president of corporate communications at 215-721-8396 or email. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. http://www.univest.net/news/2012/march/univest-corporation-announces-first-quarter-committed-to-local/ http://www.univest.net/news/2012/march/univest-corporation-announces-first-quarter-committed-to-local/ Tue, 27 Mar 2012 00:00:00 EST Univest Bank and Trust Co. Recognized As Top Community Bank SBA Lender in Philadelphia Region in 2011 SOUDERTON, Pa., March, 16, 2012 - Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co. SM , a full-service financial institution with 135 years of experience in delivering financial solutions including personal and business banking , online banking, residential mortgages, insurance products, investment and wealth advisory solutions*, announced it has $60,000,000 available to lend to locally owned and operated small businesses through its SBA program. It's critical for small businesses to have access to available funds to spend on real estate, equipment or to increase working capital to support the economic recovery. "Univest was an invaluable resource during the process of our business acquisition completed in May of 2011", said Michael Kane, President, Vogel Carton, LLC. "Their general expertise and guidance, coupled with their intimate understanding of the SBA lending process was crucial to helping us complete the deal. We are proud to have Univest as our lending and banking partner and would highly recommend them to anyone seeking SBA funding." In 2011, Univest was recognized by the Small Business Administration (SBA) as the leading community bank lender in the Philadelphia region based on volume of small business loans. The Company was also the third largest SBA lender in the Southeastern Pennsylvania market and one of the top SBA 504 lenders in the region. "Small businesses are a critical part of our community - they help strengthen our neighborhoods and fuel our local economy," said Patricia J. Kratz, vice president, Univest Bank and Trust Co. SM "At Univest, we are proud to invest in and support local small businesses and have been doing so for more than 135 years." As an SBA Preferred Lender, Univest is able to make loan decisions faster and has a better response time for borrowers. SBA loans offer borrowers more collateral flexibility, longer loan terms, no balloon payments to negotiate and no prepayment penalties. Univest's dedicated staff of more than 25 commercial lenders assists small businesses in Bucks, Chester, Lehigh and Montgomery counties. If you are interested in learning more about Univest's SBA lending program, call 877-723-5571 or visit www.univest.net . *Investment and insurance products are offered through Univest Investments, Inc., member FINRA/SIPC, and Univest Insurance, Inc., licensed non-bank subsidiaries of Univest Corporation of Pennsylvania. About Univest Corporation Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest Bank and Trust Co. SM , a member of the FDIC and an Equal Housing Lender, offers customers 32 financial service centers , 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. , a small ticket commercial finance business; Univest Insurance, Inc. , an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc. , a member of FINRA and SIPC and a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/march/univest-bank-announces-$60-million-sba-fund/ http://www.univest.net/news/2012/march/univest-bank-announces-$60-million-sba-fund/ Fri, 16 Mar 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., February 22, 2012 - Univest Corporation of Pennsylvania (NASDAQ: UVSP) ,a full service financial institution with more than 135 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investments and wealth advisory solutions, declared today a $.20 per share quarterly cash dividend to be paid on April 2, 2012 to shareholders of record as of March 7, 2012. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/february/univest-corporation-declares-first-quarter-dividend/ http://www.univest.net/news/2012/february/univest-corporation-declares-first-quarter-dividend/ Wed, 22 Feb 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., February 15, 2012 - Univest Capital, Inc., a subsidiary of Univest Bank and Trust Co.( NASDAQ: UVSP ),a full-service financial institution with 136 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investment and wealth advisory solutions, is partnering with Bensalem Kiwanis Foundation to host the fourth annual 5K Run and 1 Mile Fun Walk on Sunday, April 29, 2012 at 8:30 a.m. at Neshaminy Mall in Bensalem. In 2011, the event pulled in over 60 participants and 30 sponsors from around the Lower Bucks region and beyond, raising $7,733 for the Bensalem Kiwanis' Club Imagination Land Park for special needs families. This year's event is expected to be even more successful. In 2012, event proceeds will go to the Bensalem Kiwanis Foundation to benefit the maintenance of the Imagination Land Park as well as other initiatives funded by the Foundation annually. Advanced registration is available online at www.uc5k.com at $15 per runner. Volunteers are also invited to e-mail Hugh Connelly to sign up. If you cannot attend the 5K but would like to donate to Bensalem Kiwanis Foundation, visit www.active.com/donate/uc5k2012 . To learn more about the Univest Capital 5K and 1 Mile Fun Run, please visit www.uc5k.com or follow us on Facebook - search: Univest Capital 5K. About Univest Corporation Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest Bank and Trust Co. SM , a member of the FDIC and an Equal Housing Lender, offers customers 32 financial service centers , 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. , a small ticket commercial finance business; Univest Insurance, Inc. , an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc. , a member of FINRA and SIPC and a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/february/univest-capital-sets-date-for-fourth-annual-5k-run-and-1-mile-walk/ http://www.univest.net/news/2012/february/univest-capital-sets-date-for-fourth-annual-5k-run-and-1-mile-walk/ Wed, 15 Feb 2012 00:00:00 EST Univest Bank and Trust Co. Univest presents four bike racks to The Partnership TMA. Pictured: Peggy Schmidt, executive director of The Partnership TMA SOUDERTON, Pa., February 8, 2012- Univest Corporation of Pennsylvania ( NASDAQ: UVSP ), parent company of Univest Bank and Trust Co., a full-service financial institution with 136 years of experience in delivering financial solutions including personal and business banking, online banking , residential mortgages, insurance products, investment and wealth advisory solutions*, donated four bike racks to The Partnership Transportation Management Association of Montgomery County (PTMA), located on North Main Street in North Wales to use for their Bike Share and Municipal Bike Rack programs. Through these programs, the bike racks will be strategically placed throughout the Upper Perkiomen Valley for public use, free of cost. These programs encourage Municipal residents to bike or walk as alternative transportation. About Univest Corporation Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest Bank and Trust Co. SM , a member of the FDIC and an Equal Housing Lender, offers customers 32 financial service centers , 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. , a small ticket commercial finance business; Univest Insurance, Inc. , an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc. , a member of FINRA and SIPC and a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . About The Partnership TMA The Partnership Transportation Management Association of Montgomery County (PTMA) is a non-profit 501c3 organization that works with local businesses, municipalities, school districts and other non-profit organizations to help reduce traffic congestion, increase mobility and access to work and educate children and adults on the issues of land use, transportation, the environment and healthy lifestyles. The PTMA receives funding from a variety of sources including PennDOT, the Delaware Valley Regional Planning Commission, membership dues, in-kind contributions and payment for services rendered. Visit www.ptma-mc.org for more information.  http://www.univest.net/news/2012/february/univest-bank-provides-donation-to-the-partnership-tma/ http://www.univest.net/news/2012/february/univest-bank-provides-donation-to-the-partnership-tma/ Wed, 08 Feb 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., January 25, 2011 - Univest Corporation of Pennsylvania (NASDAQ: UVSP) , parent company of Univest Bank and Trust Co. SM , a full-service financial institution with 136 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investment and wealth advisory solutions, today announced financial results for the fourth quarter and year ended December 31, 2011. Univest reported net income of $5.3 million or $0.32 diluted earnings per share for the quarter ended December 31, 2011, compared to $4.9 million or $0.30 diluted earnings per share for the comparable period in the prior year. For the year ended December 31, 2011, Univest reported net income of $18.9 million or $1.13 diluted earnings per share, compared to $15.8 million or $0.95 diluted earnings per share for the comparable period in the prior year. The increase in net income of $3.1 million during 2011 represents an increase of 19.84% over 2010. Deposits Total deposits increased $24.2 million from September 30, 2011 and $63.0 million from December 31, 2010. Core deposits increased $48.2 million for the quarter and $72.2 million for the year ended December 31, 2011 primarily due to new customers choosing Univest. Loans Gross loans and leases increased $10.0 million from September 30, 2011 and decreased $24.8 million from December 31, 2010. While the Corporation saw increased loan activity in the fourth quarter, overall credit demand and utilization of lines by businesses and consumers remains light as a result of the prolonged challenging economic environment. Net Interest Income and Margin Net interest income decreased $866 thousand or 4.51% to $18.3 million in the fourth quarter of 2011 compared to the fourth quarter of 2010. The net interest margin on a tax-equivalent basis for the fourth quarter of 2011 was 3.96% compared to 4.15% during the third quarter of 2011 and 4.18% in the fourth quarter of 2010. The decrease in the net interest margin during the fourth quarter of 2011 from the same period in the prior year was primarily due to a 67 basis point decrease in the ratio of average interest-earning assets to interest-bearing liabilities. Excess funds generated from the increases in public funds deposits, calls of investment securities and lower loan volume from continued light credit demand were invested in interest-earning deposits as the Corporation continues to keep the investment portfolio short. Average interest-earning deposits increased $80.9 million comparing the fourth quarter of 2011 from the same period in the prior year. Net interest income of $74.7 million for the year ended December 31, 2011 increased $1.2 million or 1.64% compared to the year ended December 31, 2010. The net interest margin on a tax-equivalent basis for the year ended December 31, 2011 increased 4 basis points to 4.15% from 4.11% for the prior year. The year-to-date increases in the net interest income and the net interest margin were a result of declines in the cost of interest-bearing liabilities, exceeding the declines in yields on interest-earning assets. The increases were also attributed to declines in the volume of Federal Home Loan Bank (FHLB) borrowings. The Corporation repaid its maturing FHLB advances in 2010 reducing average year-to-date FHLB advances from $45.8 million for the year ended December 31, 2010 to $5.0 million for the year ended December 31, 2011. FHLB advances at December 31, 2011 remained at $5.0 million. Non-Interest Income Non-interest income for the quarter ended December 31, 2011 was $9.0 million, a decrease of $290 thousand or 3.13% from the comparable period in the prior year. During the fourth quarter of 2011, service charges on deposit accounts declined $319 thousand primarily due to changes in industry practices to benefit customers impacting non-sufficient funds and overdraft fees, which were implemented in July 2011; trust fee income decreased $161 thousand; and the net gain on mortgage banking activities decreased by $127 thousand. In addition, other income was down $288 thousand mainly due to a net gain on terminated leases during the fourth quarter of 2010. These unfavorable variances were partially offset by an increase in investment advisory commissions and fee income of $587 thousand mostly as a result of attaining several new customers. Non-interest income for the year ended December 31, 2011 was $34.4 million, remaining level with the prior year. Non-interest income for 2011 included increases from trust fees of $264 thousand, investment advisory commissions and fees of $747 thousand, bank owned life insurance income of $398 thousand, and an increase in the net gain on sales of securities of $985 thousand. Additionally, the year ended December 31, 2010 was impacted by fair value write-downs on the ineffective portion of a fair value swap of $1.1 million, which was terminated in August 2010. These favorable variances were partially offset by a decline of $1.6 million in service charges on deposit accounts due to the amendments to Regulation E which were implemented on August 15, 2010, and a decline of $1.1 million in the net gain on mortgage banking activities due to weaker mortgage demand in the first six months of 2011 with significant improvement in the last six months of 2011 due to re-financings. Other income decreased $834 thousand primarily due to an increase in mortgage servicing right impairment charges of $641 thousand in 2011 compared to 2010 mainly due to the decline in interest rates which increased the projected speeds of prepayment, and an increase in the net loss on sales and fair value write-downs of other real estate owned properties of $421 thousand. The first quarter of 2010 also included proceeds from a litigation settlement. Non-Interest Expense Non-interest expense for the fourth quarter of 2011 was $17.6 million, an increase of $1.4 million or 8.48% compared to the fourth quarter of 2010. Salaries and benefits expense increased by $746 thousand primarily due to higher commissions, employee incentives, special awards for employees up through senior vice president, and lower deferred loan origination costs partially offset by lower restricted stock expense. Other expenses increased $689 thousand primarily due to loan workout, legal and other real estate owned expenses. The increases for the quarter were partially offset by a decline in deposit insurance premiums of $255 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment on the average consolidated total assets less average tangible equity. For the year ended December 31, 2011, non-interest expense was $68.0 million, an increase of $661 thousand or 0.98% compared to the same period in the prior year. This was attributed to an increase of $196 thousand in salaries and benefits mainly as a result of higher commissions, employee incentives, special awards for employees up through senior vice president and annual performance increases. Salaries and benefits expense also increased as Univest continued to grow the mortgage banking business. These increases were partially offset by higher deferred loan origination costs. The Corporation implemented higher deferred loan origination costs commencing during the fourth quarter of 2010 based upon an in-depth study performed which incorporated management's additional review time in connection with the loan approval process in the current environment. In addition, non-interest expense included increases in premises and equipment expenses of $497 thousand and increases in loan workout, legal and other real estate owned expenses. These unfavorable variances were partially offset by a decline of $558 thousand in marketing and advertising expenses and a decline of $631 thousand in deposit insurance premiums mainly due to the amended assessment calculation requirement through the FDIC. Asset Quality and Provision for Loan and Lease Losses Non-accrual loans and leases, including non-accrual troubled debt restructured loans, was $38.2 million, remaining level with September 30, 2011 and down from $45.2 million at December 31, 2010. During the year ended December 31, 2011, charge-offs, foreclosures and pay-downs exceeded the additions to non-accrual loans. Net loan and lease charge-offs were $4.3 million during the fourth quarter of 2011 compared to $5.2 million for the third quarter of 2011 and $4.3 million for the fourth quarter of 2010. For the year ended December 31, 2011, net loan and lease charge-offs were $18.5 million or 1.28% of average loans and leases compared to $15.5 million or 1.07% for the year ended December 31, 2010. Nonperforming loans and leases as a percentage of total loans and leases equaled 2.94% at December 31, 2011 compared to 2.96% at September 30, 2011 and 3.16% at December 31, 2010. Other real estate owned decreased from $7.7 million at September 30, 2011 to $6.6 million at December 31, 2011 and was $2.4 million at December 31, 2010. During the fourth quarter of 2011, three properties were sold with proceeds received totaling $1.1 million. As of December 31, 2011, a total of four properties remain in other real estate owned. The provision for loan and lease losses declined to $3.1 million for the fourth quarter of 2011 from $3.6 million for the quarter ended September 30, 2011 and $6.3 million for the quarter ended December 31, 2010. The provision for loan and lease losses for the year ended December 31, 2011 was $17.5 million, a reduction of $4.1 million compared to $21.6 million for the year ended December 31, 2010. The decrease in the year-to-date provision was primarily the result of migration and resolution of loans through the loan workout process, lower loan volume and a decrease in historical loss factors. The allowance for loan and lease losses as a percentage of total loans and leases was 2.07% at December 31, 2011 compared to 2.16% at September 30, 2011 and 2.10% at December 31, 2010. The allowance for loan and lease losses to nonperforming loans and leases equaled 70.34% at December 31, 2011, compared to 72.85% at September 30, 2011 and 66.48% at December 31, 2010. Capital Univest continues to remain well-capitalized at December 31, 2011. Univest's total risk-based capital at December 31, 2011 was 15.56%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital. During the quarter, Univest deployed $285 thousand of capital to repurchase 20,629 shares of common stock through the stock repurchase program. Maximum shares available for future repurchases through the plan at December 31, 2011 was 566,745. Total shares outstanding at December 31, 2011 were 16,702,376. Dividend On January 3, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 5.32% annualized yield based on the closing price of Univest's stock on the date the dividend was paid. About Univest Corporation Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net. This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain "forward-looking statements" relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation's future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation's financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. http://www.univest.net/news/2012/january/univest-corporation-reports-fourth-quarter-and-year-end-earnings/ http://www.univest.net/news/2012/january/univest-corporation-reports-fourth-quarter-and-year-end-earnings/ Wed, 25 Jan 2012 00:00:00 EST Univest Bank and Trust Co. SOUDERTON, Pa., January 6, 2012 - Univest Bank and Trust Co. SM ( NASDAQ: UVSP ), a full-service financial institution with more than 135 years of experience in delivering financial solutions including personal and business banking, online banking , residential mortgages, insurance products, investment and wealth advisory solutions*, announced the launch of its Anytime Voice ID service. This free service provides added security to Univest customers calling the bank for assistance as Univest can now identify a customer by simply using the customer's voice. The Univest Anytime Voice ID is not a voice recording - it is a mathematical model of a person's voice that is encrypted and unable to be used in any other way by another system or person. When a customer enrolls in this service, their identity is verified thereafter with a much higher degree of certainty than other methods of identification. In addition to heightening security, this new service also brings added convenience. For enrolled customers, they receive immediate assistance from a Univest Service Center representative without being required to provide additional information to verify their identity. "Univest is proud to be the first community bank in our region to provide this free, convenient service to our customers," said Louis P. Spinelli, executive vice president and director of consumer strategy and delivery, Univest Bank and Trust Co. SM "This innovative, new service complements our competitive suite of electronic service offerings and provides biometric security to our customer base." For more information about Univest's Anytime Voice ID service, call the Univest Service Center at 877-723-5571. About Univest Corporation Headquartered in Souderton, Pennsylvania, Univest Corporation of Pennsylvania ( www.univest.net ) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest Bank and Trust Co. SM , a member of the FDIC and an Equal Housing Lender, offers customers 32 financial service centers , 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Univest Capital, Inc. , a small ticket commercial finance business; Univest Insurance, Inc. , an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc. , a member of FINRA and SIPC and a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net . http://www.univest.net/news/2012/january/univest-bank-introduces-anytime-voice-id/ http://www.univest.net/news/2012/january/univest-bank-introduces-anytime-voice-id/ Fri, 06 Jan 2012 00:00:00 EST