Univest Financial's Business Segments

Univest Corporation of Pennsylvania is a Pennsylvania corporation organized in 1973 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956. The Corporation owns all of the capital stock of Univest Bank and Trust Co. (the Bank). The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiary, the Bank. The Corporation’s and the Bank’s legal headquarters are located at 14 North Main Street, Souderton, PA 18964.

The Bank is a Pennsylvania state-chartered bank and trust company. As a state-chartered member bank of the Federal Reserve System, the Bank is regulated primarily by the Pennsylvania Department of Banking and Securities and the Federal Reserve Bank of Philadelphia.

Univest Financial Corporation is a comprehensive financial services organization that operates primarily through three main segments: Banking, Wealth Management, and Insurance. Each segment provides a variety of products and services tailored to meet the diverse needs of consumers, businesses, and governmental entities.

Banking Segment

The Banking segment of Univest Financial Corporation serves as the backbone of the organization, offering an extensive range of financial services designed for various client types. This segment includes:

1. Deposit Services:
- Checking accounts: Everyday banking needs with various options to suit customers preferences.
- Savings accounts: Interest-bearing accounts designed for individuals and businesses looking to save money.
- Certificates of Deposit (CDs): Time deposits with fixed interest rates for a predetermined period, offering a safe investment option.

2. Loan Origination and Servicing:
- Personal loans: Unsecured loans for consumers looking to finance personal needs such as education, vacations, or major purchases.
- Business loans: Loans designed for small, medium, and large enterprises to support various business needs, including expansion, equipment purchases, and operational costs.
- Mortgage loans: Offering a variety of mortgage products, including fixed-rate, adjustable-rate, and specialty lending options for homebuyers.
- Home equity lines of credit (HELOCs): Allowing homeowners to borrow against their home equity for various purposes.

3. Mortgage Banking:
- Origination: The process of creating and processing new mortgage loans.
- Servicing: Management of existing mortgage loans, including payment processing and customer service.

4. General Banking Services:
- Online banking: Convenient technology-enabled banking that allows customers to manage their accounts, pay bills, and transfer funds electronically.
- Mobile banking: An app-based service that provides customers access to their accounts and banking services via smartphones and tablets.
- ATM services: Extensive network of ATMs for easy cash withdrawals and deposits.

5. Equipment Lease Financing:
- Providing financing solutions for businesses looking to acquire equipment through leasing rather than outright purchasing, enabling cash flow management and tax benefits.

Wealth Management Segment

The Wealth Management segment focuses on enhancing the financial well-being of clients through a variety of sophisticated financial services, which include:

1. Trust Services:
- Personal trusts: Customized trust arrangements to manage and protect clients’ assets for heirs or charitable beneficiaries.
- Estate planning: Helping clients develop estates to ensure their wishes are carried out and minimize tax implications.

2. Investment Advisory Services:
- Portfolio management: Tailored investment strategies based on individual risk profiles and financial objectives.
- Financial planning: Comprehensive planning services that address issues such as retirement, tax, and education funding strategies.

3. Employee Benefit Solutions:
- Offering 401(k) plans, pension plans, and other retirement savings options for businesses to provide their employees.
- Custodial services: Safekeeping of plan assets and administration of employee benefits.

4. Brokerage Services:
- Providing trading services for stocks, bonds, mutual funds, and other securities to meet individual and institutional investment needs.

5. Private Investment Accounts:
- Management of bespoke investment accounts that cater specifically to the needs of high-net-worth individuals and institutions.

Insurance Segment

The Insurance segment consists of a full suite of offerings through a brokerage agency, addressing the risk management needs of individuals and organizations. This includes:

1. Commercial Property and Casualty Insurance:
- Comprehensive coverage policies designed to protect businesses from property damage and liability claims.

2. Life and Health Insurance:
- Group life insurance policies providing employees with death benefit coverage.
- Health coverage options for individuals and groups, designed to meet the varying needs of clients.

3. Employee Benefit Solutions:
- A range of insurance products targeting corporate clients looking to offer competitive benefit packages to attract and retain talent.

4. Personal Insurance Lines:
- Coverage options for homeowners, auto, renters, and other personal lines to protect individual assets.

5. Human Resources Consulting:
- Consulting services that assist businesses with benefit design, compliance, and human resources best practices.

Through these segments, Univest Financial Corporation demonstrates a commitment to providing a comprehensive suite of financial products and services that not only cater to traditional banking needs but also enhance clients overall financial health. The organization continues to adapt its offerings to fit the evolving landscape of financial services while maintaining a focus on customer satisfaction and financial security.