UNIVEST FINANCIAL CorpUVSP
UNIVEST FINANCIAL Corp Revenue Disclosure
Revenue from Contracts with Customers
The following tables disaggregate the Corporation's revenue by major source and reportable segment for the years ended December 31, 2025, 2024 and 2023.
| (Dollars in thousands) | Banking | Wealth Management | Insurance | Other | Consolidated | ||||||||||||||||||||||||
| For the Year Ended December 31, 2025 | |||||||||||||||||||||||||||||
| Net interest income (1) | $ | 249,488 | $ | 62 | $ | — | $ | (9,355) | $ | 240,195 | |||||||||||||||||||
| Noninterest income: | |||||||||||||||||||||||||||||
| Trust fee income | — | 8,853 | — | — | 8,853 | ||||||||||||||||||||||||
| Service charges on deposit accounts | 8,991 | — | — | — | 8,991 | ||||||||||||||||||||||||
| Investment advisory commission and fee income | — | 22,799 | — | — | 22,799 | ||||||||||||||||||||||||
| Insurance commission and fee income | — | — | 22,443 | — | 22,443 | ||||||||||||||||||||||||
| Other service fee income (2) | 10,635 | 262 | 41 | — | 10,938 | ||||||||||||||||||||||||
| Bank owned life insurance income (1) | 5,723 | — | — | 126 | 5,849 | ||||||||||||||||||||||||
| Net gain on mortgage banking activities (1) | 3,362 | — | — | — | 3,362 | ||||||||||||||||||||||||
| Other income (2) | 4,606 | 6 | — | 14 | 4,626 | ||||||||||||||||||||||||
| Total noninterest income | $ | 33,317 | $ | 31,920 | $ | 22,484 | $ | 140 | $ | 87,861 | |||||||||||||||||||
| (Dollars in thousands) | Banking | Wealth Management | Insurance | Other | Consolidated | ||||||||||||||||||||||||
| For the Year Ended December 31, 2024 | |||||||||||||||||||||||||||||
| Net interest income (1) | $ | 220,204 | $ | 73 | $ | — | $ | (9,107) | $ | 211,170 | |||||||||||||||||||
| Noninterest income: | |||||||||||||||||||||||||||||
| Trust fee income | — | 8,491 | — | — | 8,491 | ||||||||||||||||||||||||
| Service charges on deposit accounts | 8,082 | — | — | — | 8,082 | ||||||||||||||||||||||||
| Investment advisory commission and fee income | — | 21,208 | — | — | 21,208 | ||||||||||||||||||||||||
| Insurance commission and fee income | — | — | 22,349 | — | 22,349 | ||||||||||||||||||||||||
| Other service fee income (2) | 14,415 | 210 | 122 | — | 14,747 | ||||||||||||||||||||||||
| Bank owned life insurance income (1) | 3,739 | — | — | 122 | 3,861 | ||||||||||||||||||||||||
| Net gain on sales of investment securities (1) | 18 | — | — | — | 18 | ||||||||||||||||||||||||
| Net gain on mortgage banking activities (1) | 5,265 | — | — | — | 5,265 | ||||||||||||||||||||||||
| Other income (2) | 3,961 | — | — | 73 | 4,034 | ||||||||||||||||||||||||
| Total noninterest income | $ | 35,480 | $ | 29,909 | $ | 22,471 | $ | 195 | $ | 88,055 | |||||||||||||||||||
| (Dollars in thousands) | Banking | Wealth Management | Insurance | Other | Consolidated | ||||||||||||||||||||||||
| For the Year Ended December 31, 2023 | |||||||||||||||||||||||||||||
| Net interest income (1) | $ | 229,017 | $ | 67 | $ | — | $ | (9,087) | $ | 219,997 | |||||||||||||||||||
| Noninterest income: | |||||||||||||||||||||||||||||
| Trust fee income | — | 7,732 | — | — | 7,732 | ||||||||||||||||||||||||
| Service charges on deposit accounts | 7,048 | — | — | — | 7,048 | ||||||||||||||||||||||||
| Investment advisory commission and fee income | — | 18,864 | — | — | 18,864 | ||||||||||||||||||||||||
| Insurance commission and fee income | — | — | 21,043 | — | 21,043 | ||||||||||||||||||||||||
| Other service fee income (2) | 11,715 | 208 | 458 | — | 12,381 | ||||||||||||||||||||||||
| Bank owned life insurance income (1) | 3,067 | — | — | 118 | 3,185 | ||||||||||||||||||||||||
| Net gain on mortgage banking activities (1) | 3,689 | — | — | — | 3,689 | ||||||||||||||||||||||||
| Other income (2) | 2,895 | — | — | (13) | 2,882 | ||||||||||||||||||||||||
| Total noninterest income | $ | 28,414 | $ | 26,804 | $ | 21,501 | $ | 105 | $ | 76,824 | |||||||||||||||||||
(1)Net interest income as well as many other revenues for financial assets and liabilities including loans, leases, securities, and derivatives are excluded from the scope of FASB ASC 606 "Revenue from Contracts with Customers" ("FASB ASC 606"). Noninterest income streams that are out of scope of FASB ASC 606 include bank owned life insurance income, sales of investment securities and mortgage banking activities.
(2)Other service fee income and other income include certain items that are in scope and certain items that are out of scope of FASB ASC 606 as described further in the following paragraphs.
Banking Segment
Service charges on deposit accounts are generally earned on depository accounts for commercial and consumer customers and primarily includes fees for account services, overdraft and non-sufficient funds services, and cash management services for commercial customers. Account services include fees for event-driven services such as ATM transactions and fees for periodic account maintenance activities. Cash management services for commercial customers include fees for event-driven services such as lockbox processing and line sweep services and fees for periodic account maintenance activities. The Corporation's obligation for event-driven services is satisfied at the time of the event when the service is delivered, while the obligation for periodic services is satisfied over the course of each month. Obligations for overdraft services are satisfied at the time of the overdraft.
Other service fee income is earned from commercial and consumer customers and primarily includes credit and debit card interchange and merchant revenues, mortgage servicing income, which is out of scope of FASB ASC 606, and other deposit related service fee income such as wire transfers, check services and safe deposit boxes. Interchange and merchant revenues are recognized concurrently with the delivery of services on a monthly basis. Other deposit related service fee income include fees for event-driven services, such as wire transfers and check services, and fees for periodic services such as safe deposit box services. The obligation for event-driven services is satisfied at the time of the event when the service is delivered, while the obligation for periodic services is satisfied over the course of each month.
Other income primarily includes net gains or losses from the sales of loans and leases, net gains or losses from the sales or disposition of fixed assets and net gains or losses on interest rate swaps, all of which are out of scope of FASB ASC 606, and net gains or losses on sales and write-downs of other real estate owned. Net gains or losses on sales of other real estate owned are recognized at the point in time in which control of the other real estate owned is transferred.
Wealth Management Segment
Trust fee income is earned for providing trust, investment management and other related services. Obligations for trust and other related services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature and obligations for investment management services are generally performed over time. Fees for trust fee income are typically based on a tiered scale relative to the market value of assets under management and are recognized in conjunction with the delivery of services.
Investment advisory commission and fee income include fees for financial planning, guardian and custodian of employee benefits, investment advisory, and brokerage services. Obligations for financial planning, guardian and custodian of employee benefits, and investment advisory services are generally satisfied over time and fees, typically based on a tiered scale relative to the market value of assets under management, are recognized in conjunction with the delivery of services. Brokerage services are typically event driven and are based on the size and number of transactions executed at the client's direction and recognized on the trade date.
Insurance Segment
Insurance commission and fee income is derived primarily from commissions from the sale of insurance policies, which are generally calculated as a percentage of the policy premium, and contingent income, which is calculated based on the performance of the policies held by each carrier. Obligations for the sale of insurance policies are generally satisfied at the point in time which the policy is executed and are recognized at the point in time in which the amounts are known and collection is reasonably assured. Obligations for contingent income are generally satisfied over time and are recognized at the point in time in which the amounts are known and collection is reasonably assured.
Other service fee income is earned from payroll and human resources consulting services. These obligations are generally satisfied over time and are recognized on a periodic basis.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.