-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RvWb2BQXclIVFSAVd7gaZwnHLRTINYZ7jywW8rhxOg+CGIVfKHG/6tuc+nlD7Byo bu0j3BcSZuae5IRqy62YXw== 0001171843-07-000399.txt : 20070726 0001171843-07-000399.hdr.sgml : 20070726 20070725203644 ACCESSION NUMBER: 0001171843-07-000399 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070725 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20070726 DATE AS OF CHANGE: 20070725 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIVEST CORP OF PENNSYLVANIA CENTRAL INDEX KEY: 0000102212 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 231886144 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-07617 FILM NUMBER: 071000449 BUSINESS ADDRESS: STREET 1: 14 NORTH MAIN STREET STREET 2: P. O. BOX 64197 CITY: SOUDERTON STATE: PA ZIP: 18964 BUSINESS PHONE: 2157212400 MAIL ADDRESS: STREET 1: 14 NORTH MAIN STREET STREET 2: P. O. BOX 64197 CITY: SOUDERTON STATE: PA ZIP: 18964 8-K 1 document.htm FORM 8-K FILING DOCUMENT Form 8-K Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8-K


CURRENT REPORT

Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 25, 2007


Univest Corporation of Pennsylvania
(Exact name of registrant as specified in its charter)


Pennsylvania
 
0-7617
 
23-1886144
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer Identification No.)


 
14 North Main Street, Souderton, Pennsylvania
 
18964
 
  (Address of principal executive offices)   (Zip Code)  

Registrant's telephone number, including area code:   (215) 721-2400



________________________________________________________________________________
(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  [   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [   ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)
  [   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On July 25, 2007 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

    Exhibit 99.1.       Press release dated July 25, 2007


SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

    Univest Corporation of Pennsylvania
(Registrant)

July 25, 2007
(Date)
  /s/   WALLACE H. BIELER
Wallace H. Bieler
Senior Executive Vice President, Chief Operation Officer and Chief Financial Officer


  Exhibit Index
  99.1 Press release dated July 25, 2007






EX-99.1 2 newsrelease.htm PRESS RELEASE Univest Corporation of Pennsylvania -- Univest National Bank and Trust Co. Reports Second Quarter Earnings

EXHIBIT 99.1

Univest Corporation of Pennsylvania -- Univest National Bank and Trust Co. Reports Second Quarter Earnings

SOUDERTON, Pa., July 25, 2007 (PRIME NEWSWIRE) -- Univest Corporation of Pennsylvania (Nasdaq:UVSP), parent company of Univest National Bank and Trust Co., has reported net income of $6,075,000 or $0.47 basic net income per share for the second quarter ended June 30, 2007, compared to $6,015,000 or $0.47 basic net income per share for the same period ended June 30, 2006. This net income change represents an increase of 1.00%. Diluted earnings per share were $0.47 and $0.46 for the three-month periods ended June 30, 2007 and 2006 respectively.

Assets totaled $1,978,272,000 and shareholders' equity totaled $187,653,000 as of June 30, 2007.

For the six months ended June 30, 2007, Univest reported net income of $12,322,000 or $0.95 basic net income per share, compared to $12,229,000 or $0.95 basic net income per share reported for the six months ended June 30, 2006. This net income change represents an increase of 0.76%. Diluted earnings per share were $0.95 and $0.94 for the six months ended June 30, 2007 and 2006 respectively.

On July 2, 2007, Univest Corporation paid a quarterly cash dividend of $0.20 per share to shareholders of record as of June 7, 2007. This is an increase of $0.01 or 5.3% over the same period last year.

Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, and Montgomery counties. Univest National Bank and Trust Co. offers customers 33 financial service centers, 12 retirement financial services centers, and 39 ATM locations throughout the region, and is the parent company of Vanguard Leasing, Inc., a small ticket commercial leasing business. Univest Insurance, Inc., an independent insurance agency headquartered in Lansdale, Pa. serves commercial and personal customers, and has two divisions in Chester County -- Donald K. Martin & Co. and B.G. Balmer & Co. Univest Investments, Inc., a full-service broker-dealer and investment advisory firm, offers a wide range of investment products and services.

For more information on Univest Corporation, please visit www.univest.net.

The Univest Corporation of Pennsylvania logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3932

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission.



                    Univest Corporation of Pennsylvania
                       Financial Summary Highlights

                               (Unaudited)
                 ($ in thousands, except per share data)


                                       For the Three Months Ended

                                     June 30,    June 30,
                                       2007       2006       % CHANGE
                                     --------    --------    --------
 Net interest income               $    15,638 $    15,555       0.53%
 Provision for loan and
   lease losses                    $       653 $       515      26.80%
 Net interest income after
   provision for loan and
   lease losses                    $    14,985 $    15,040      -0.37%
 Net income                        $     6,075 $     6,015       1.00%
 Net income per share:
 Basic                             $      0.47 $      0.47          --
 Diluted                           $      0.47 $      0.46       2.17%
 Dividends per share               $      0.20 $      0.19       5.26%


                                        For the Six Months Ended

                                     June 30,    June 30,
                                       2007       2006       % CHANGE
                                     --------    --------    --------
 Net interest income               $    31,083 $    30,547       1.75%
 Provision for loan and
   lease losses                    $     1,277 $     1,026      24.46%
 Net interest income after
   provision for loan and
   lease losses                    $    29,806 $    29,521       0.97%
 Net income                        $    12,322 $    12,229       0.76%
 Net income per share:
 Basic                             $      0.95 $      0.95          --
 Diluted                           $      0.95 $      0.94       1.06%
 Dividends per share               $      0.40 $      0.38       5.26%


                                     June 30,    June 30,
                                       2007       2006       % CHANGE
                                     --------    --------    --------
 Total assets                      $ 1,978,272 $ 1,851,573       6.84%
 Total shareholders' equity        $   187,653 $   178,116       5.35%
 Total deposits                    $ 1,556,701 $ 1,439,777       8.12%
CONTACT:  Univest Corporation Of Pennsylvania
          Kim Detwiler, VP, Corporate Communications
          215-721-8396
          detwilerk@univest.net
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