Subsequent Event (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the consideration paid for Valley Green Bank and the fair value of assets acquired and liabilities assumed at the acquisition date:



(Dollars in thousands, except share data)

Purchase price consideration in common stock:
Valley Green common shares outstanding	2,797,454
Exchange ratio	1.3541
Univest shares issued	3,787,866
Univest closing stock price at December 31, 2014	$	20.24
Purchase price assigned to Valley Green common shares exchanged for Univest stock			$	76,667
Purchase price assigned to cash in lieu of fractional shares			3
Purchase price assigned to Valley Green options settled for cash			2,236
Total purchase price			$	78,906

Fair value of assets acquired:
Cash and due from banks	$	4,919
Federal funds sold	17,442
Investment securities available-for-sale	12,766
Loans held for investment	382,892
Premises and equipment, net	3,102
Core deposit intangible	1,867
Accrued interest receivable and other assets	3,779
Total identifiable assets			426,767
Fair value of liabilities assumed:
Deposits - noninterest bearing	$	49,826
Deposits - interest bearing	336,086
Change in control accrued payments	2,070
Accrued interest payable and other liabilities	1,792
Total liabilities			389,774
Net identifiable net assets			36,993
Goodwill resulting from merger (1)			$	41,913

(1) - Goodwill is not expected to be deductible for federal income tax purposes. The goodwill is allocated to the Banking business segment.

Schedule Of Impaired Financing Receivable Table

The following is a summary of the acquired impaired loans at January 1, 2015 resulting from the merger with Valley Green:



(Dollars in thousands)

Contractually required principal and interest payments	$	4,539
Contractual cash flows not expected to be collected (nonaccretable difference)	(2,848		)
Cash flows expected to be collected	1,691
Interest component of expected cash flows (accretable difference)	(291		)
Fair value of loans acquired with a deterioration of credit quality	$	1,400

Business Acquisition, Pro Forma Information

The unaudited pro forma data presented below is based on, and should be read together with, the historical financial information of the Corporation included in this Form 10-K for the indicated periods and the historical information of Valley Green Bank included in the Corporation's Current Report on Form 8-K filed with the SEC on January 7, 2015.



	Pro Forma For the Years Ended December 31,
(Dollars in thousands, except share data)	2014		2013
Net interest income	$	92,356	$	89,897
Noninterest income	49,325		47,550
Noninterest expense	98,792		90,456
Net income	27,503		26,557
Earnings per share
Basic	$	1.37	$	1.30
Diluted	1.37		1.30