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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 RTTNews Staff Writer

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