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June 18, 2014
09:06 EDTUVSPUnivest to acquire Valley Green Bank in all stock transaction valued at $76M
Univest and Valley Green Bank announced that they have entered into a definitive merger agreement pursuant to which Valley Green will be merged with and into Univest Bank in an all-stock transaction with an aggregate value of approximately $76M. Headquartered in the Mt. Airy neighborhood of Philadelphia, Valley Green had approximately $370M in assets, $329M in loans, and $335M in deposits at March 31 and operates three full-service banking offices and two loan production offices in the greater Philadelphia marketplace. Valley Green was recently ranked the 8th best performing bank out of more than 4,000 banks in the nation in 2013 for banks with assets less than $500M by SNL Financial. Under the terms of the Merger Agreement, Valley Green shareholders will receive shares of Univest common stock equal to $27.00 for each share of Valley Green stock outstanding, subject to certain adjustments depending upon the changes in the price of Univest's common stock. The final exchange ratio will be based upon an average closing price of Univest's stock over the 20 consecutive trading day period ending on the day prior to the closing date.
News For UVSP From The Last 14 Days
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October 22, 2014
10:54 EDTUVSPUnivest reports Q3 EPS 38c, one estimate 34c
The net interest margin on a tax-equivalent basis for Q314 was 3.88%, compared to 3.86% for Q214 and 3.83% for Q313. Net interest income of $18.2M for Q314 was consistent with Q313. Net interest income declined $437K, or less than 1%, to $53.9M for the nine months ended September 30, compared to the same period in the prior year. The decline in year-to-date net interest income from the prior year was primarily attributable to a reduction in investment securities. This decline was partially offset by the redemption of Univest's trust preferred securities and the termination of the related interest rate swap during Q213, maturities of higher yielding time deposits and a decline in the rate paid on time deposits.

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