Univest acquires Paul Sheaffer Insurance Agency, terms undisclosed » 16:2212/0112/01/21
Univest and its insurance…
Univest and its insurance subsidiary, Univest Insurance, announced the acquisition of the Paul Sheaffer Insurance Agency, a full-service firm providing insurance solutions to businesses and individuals in Central Pennsylvania. The Paul I. Sheaffer Insurance Agency was founded by Paul I. Sheaffer in 1951. Headquartered in Intercourse, Pennsylvania, all of the agency's employees will be retained and begin operating under the name Univest Insurance, LLC immediately. Sheaffer will serve as senior vice president and Central Pennsylvania regional manager.
|Over a month ago|
Univest reports Q3 EPS 71c, consensus 60c » 16:2810/2710/27/21
Gross loans and leases,…
Gross loans and leases, excluding PPP loans, increased $92.0M, or 7.3%, from June 30, 2021 due to increases in commercial real estate and residential mortgage loans. Total deposits increased $619.5M, or 46.6%, from June 30, 2021 due to increases in commercial deposits and seasonal increases in public funds deposits.
|Over a quarter ago|
Univest reports Q2 EPS 71c, consensus 66c » 16:4807/2807/28/21
Net interest income of…
Net interest income of $46.8 million for the three months ended June 30, 2021 increased $1.3 million, or 3.0%, from the three months ended March 31, 2021, and $3.2 million, or 7.4%, from the three months ended June 30, 2020. Net interest income of $92.2 million for the six months ended June 30, 2021 increased $6.2 million, or 7.2%, from the six months ended June 30, 2020. The increase in net interest income for the six months ended June 30, 2021 compared to the same period of 2020 was primarily due to an increase in PPP loan income of $7.2 million and lower deposit costs offset by a decrease in yield on loans and investment securities. Net interest margin, on a tax-equivalent basis, was 3.15% for the second quarter of 2021, compared to 3.12% for the first quarter of 2021 and 3.18% for the second quarter of 2020. Excess liquidity reduced net interest margin by approximately ten basis points for the quarter ended June 30, 2021 compared to eleven basis points for the quarter ended March 31, 2021 and sixteen basis points for the quarter ended June 30, 2020.
Univest reports Q1 EPS $1.11, consensus 60c » 16:2004/2804/28/21
Reports common equity…
Reports common equity book value per share $24.59 vs. $23.64 in Q4. Reports tangible common equity book value per share $18.64 vs. $17.66 in Q4. Reports tier 1 leverage ratio 9.45%.
Univest reports Q4 diluted EPS 88c, consensus 52c » 16:2201/2701/27/21
Q4 results included a 4c…
Q4 results included a 4c diluted earnings per share restructuring charge associated with the corporation's previously announced financial service center optimization plan. The results also included a charge of 3c diluted earnings per share in other expense related to the extinguishment of long-term debt. During Q4, the corporation modified the vesting criteria for outstanding performance-based restricted stock grants to better reflect the current operating environment. As a result of these modifications, a benefit of 3c diluted earnings per share was recognized in salaries, benefits and commissions for the quarter.