logo
Share SHARE
FONT-SIZE Plus   Neg

Univest Corp. Q1 Profit Rises - Quick Facts

Univest Corp. of Pennsylvania (UVSP), the holding company of Univest Bank and Trust Co., Wednesday reported an increase in profit for the first quarter, due mainly to higher non-interest income and lower loan and lease loss provisions.

The Souderton, Pennsylvania-based company reported first-quarter net profit of $5.26 million or $0.31 per share, compared to $3.86 million or $0.23 per share last year.

Net interest income for the quarter dropped to $18.16 million from $18.81 million in the year-ago quarter. Total non-interest income grew to $11.02 million from $7.76 million in the prior-year quarter.

Loan and lease loss provisions for the quarter decreased to $4.10 million from $5.13 million last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Boeing Co.(BA) reported a loss for the second-quarter 2016 compared to profit in the prior year, reflecting 787 cost reclassification and charges on the 747 program and the KC-46 Tanker program, partially offset by solid execution and higher volume. It cut its profit outlook for fiscal year 2016, while it reaffirmed annual revenue guidance. Automaker Fiat Chrysler Automobiles NV on Wednesday reported a 25 percent increase in profit for the second quarter from last year. However, quarterly net revenues and worldwide shipments declined from last year. Coca-Cola Co. (KO) posted a profit for the second-quarter that increased 11 percent from last year, while net operating revenues declined 5 percent. It is targeting full-year 2016 net share repurchases of $2.0 billion to $2.5 billion.
comments powered by Disqus
Follow RTT