Univest In The News
Univest Corporation Of Pennsylvania – Univest National Bank And Trust Co. – Reports First Quarter Earnings
SOUDERTON, Pa., April 24, 2008 – Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest National Bank and Trust Co. of Souderton, Pa., has reported net income of $6,721,000 or $0.52 basic net income per share for the first quarter ended March 31, 2008, compared to $6,247,000 or $0.48 basic net income per share for the first quarter ended March 31, 2007. This is an increase of 7.59% or 8.33%, respectively. Diluted earnings per share were $0.52 for the first quarter ended March 31, 2008, compared to $0.48 per share for the first quarter ended March 31, 2007.
“We are pleased with our first quarter performance and our ability to once again demonstrate how our diversified business mix contributed to steady, organic growth for Univest,” said William S. Aichele, chairman, president and chief executive officer for Univest Corporation.
On April 1, 2008, Univest Corporation paid a quarterly cash dividend of $0.20 per
share.
As of March 31, 2008, assets totaled $2,059,572,000 compared to $1,935,930,000 at March 31, 2007. This is an increase of 6.39%. Total shareholders’ equity increased 7.61% year-over-year with $203,263,000 reported as of March 31, 2008, compared to $188,889,000 as of March 31, 2007.
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.