Univest In The News
Univest Corporation Of Pennsylvania – Univest National Bank And Trust Co. Reports Third Quarter Earnings
SOUDERTON, Pa., October 24, 2007 – Univest Corporation of Pennsylvania (listed on NASDAQ: UVSP), parent company of Univest National Bank and Trust Co., has reported net income of $6,688,000 or $0.52 basic net income per share for the third quarter ended September 30, 2007, compared to $6,537,000 or $0.50 basic net income per share for the same period ended September 30, 2006. This net income change represents an increase of 2.31%. Diluted earnings per share were $0.52 and $0.50 for the three-month periods ended September 30, 2007 and 2006 respectively.
Assets totaled $1,952,375,000 and shareholders’ equity totaled $191,947,000 as of September 30, 2007.
For the nine months ended September 30, 2007, Univest reported net income of $19,010,000 or $1.47 basic net income per share, compared to $18,766,000 or $1.45 basic net income per share reported for the nine months ended September 30, 2006. This net income change represents an increase of 1.30%. Diluted earnings per share were $1.47 and $1.44 for the nine months ended September 30, 2007 and 2006 respectively.
On October 1, 2007, Univest Corporation paid a quarterly cash dividend of $0.20 per share to shareholders of record as of September 6, 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.