Univest Financial Corporation Reports Earnings Results for the Third Quarter Ended September 30, 2020
October 28, 2020 at 04:15 pm EDT
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Univest Financial Corporation announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced net interest income was USD 43.854 million compared to USD 42.645 million a year ago. Net income was USD 18.119 million compared to USD 17.662 million a year ago. Basic earnings per share from continuing operations was USD 0.62 compared to USD 0.6 a year ago. For the nine months, net interest income was USD 129.840 million compared to USD 126.803 million a year ago. Net income was USD 21.042 million compared to USD 50.209 million a year ago. Basic earnings per share from continuing operations was USD 0.72 compared to USD 1.71 a year ago.
Univest Financial Corporation is a bank holding company for Univest Bank and Trust Co. (the Bank). The Bank is a state-chartered bank and trust company. The Company has three segments: Banking, Wealth Management and Insurance. Banking segment provides financial services to individuals, businesses, municipalities and non-profit organizations. These services include a full range of banking services, such as deposit taking, loan origination and servicing, mortgage banking, other general banking services, and equipment lease financing. Wealth Management segment offers investment advisory, financial planning, trust and brokerage services. The segment serves a diverse client base of private families and individuals, municipal pension plans, retirement plans, trusts and guardianships. Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, employee benefit solutions, personal insurance lines and human resources consulting.
UNIVEST FINANCIAL CORPORATION 
