Univest Corporation of Pennsylvania Shareholders Re-Elect Directors, OK KPMG and Pay in 2026 AGM

Key Points

• Shareholders re‑elected four Class III directors—Joseph P. Beebe, Natalye Paquin, Anne Vazquez and Robert C. Wonderling—and approved the ratification of KPMG LLP as auditor and the advisory vote on executive compensation.
• Univest reported record earnings for 2025 and posted first‑quarter 2026 diluted EPS of $0.96 (a 24.7% increase vs. Q1 2025), while raising the quarterly dividend to $0.23 and repurchasing over 351,000 shares.
• Management’s 2026 priorities focus on lowering the loan‑to‑deposit ratio, improving operating leverage and growing non‑interest income via a relationship‑and advisory‑driven strategy.

Univest Corporation of Pennsylvania NASDAQ: UVSP held its 2026 annual meeting of shareholders on April 23 via a hybrid format, with Chairman, President and CEO Jeffrey Schweitzer presiding. The meeting included shareholder votes on director elections, auditor ratification and an advisory executive compensation proposal, along with a management update that highlighted 2025 results and early 2026 performance.

Quorum and meeting proceedings

Doug Chia, serving as judge of election, reported that a quorum was present, with approximately 86.77% of outstanding shares represented by proxy.

Megan Santana, the meeting secretary, said the notice and proxy materials were mailed on March 13, 2026 to shareholders of record as of Feb. 6, 2026, and were also made available online and to in-person attendees. Santana also referenced a Jan. 28, 2026 board resolution setting the number of directors to be elected at the meeting as four Class III directors for three-year terms.

Shareholder votes

Schweitzer presented three items for shareholder action:

• Election of four Class III directors: Joseph P. Beebe, Natalye Paquin, Anne Vazquez, and Robert C. Wonderling
• Ratification of KPMG LLP as the company’s independent registered public accounting firm for 2026
• Advisory approval of the compensation of the company’s named executive officers, as presented in the proxy statement

Schweitzer noted that the company’s bylaws required any other director nominations to be submitted in writing at least 50 days prior to the meeting, and said none were received.

Following the vote, Chia provided a preliminary report that each director nominee received a majority of votes cast and was duly elected. He also said shareholders approved, by a majority of votes cast, the ratification of KPMG LLP and the advisory proposal on executive compensation.

Management update: 2025 highlights

In his remarks, Schweitzer described 2025 as a year marked by “ongoing economic uncertainty,” elevated deposit competition and broader industry pressure. Despite those conditions, he said the company delivered record earnings and made “meaningful progress across the organization,” attributing performance to disciplined execution and a focus on relationship-based banking.

Schweitzer said liquidity and deposit competition remained intense throughout the year, prompting the company to execute a “comprehensive, diversified deposit strategy” centered on full-relationship customers, targeted industries and segments, and further development of its small business strategy. He added that treasury management played “a critical role” in deepening relationships and generating fee income, and said this approach helped lower the company’s loan-to-deposit ratio and strengthen the balance sheet.

On lending, Schweitzer said loan production was strong but offset by higher-than-normal prepayment activity that moderated in the fourth quarter. He also pointed to the commercial banking team’s relationship focus as a driver of improved profitability in 2025.

Schweitzer emphasized the company’s “diversified business model,” citing performance contributions across mortgage banking, wealth management, insurance and equipment finance. He said these businesses support customers while providing fee income and stability that help the organization “navigate cycles more effectively.”

Efficiency initiatives, capital actions, and 2026 priorities

Schweitzer said the company continued to make progress on operational efficiency and scalability, including “incremental returns” on investments in technology, data and process improvement. He referenced enhancements to digital platforms and Lean Six Sigma initiatives, and said the company remained focused on managing expenses and improving operating leverage, including working toward a lower efficiency ratio.

He also said Univest returned capital to shareholders during 2025 through an increased dividend and share repurchases, citing a strong capital position.

Looking ahead, Schweitzer outlined 2026 priorities that include:

• Lowering the loan-to-deposit ratio into a sustainable range
• Improving operating leverage
• Growing non-interest income businesses
• Deepening relationships through an advisory-focused approach

Schweitzer said these were not new initiatives but the “next phase of disciplined execution,” aimed at maximizing returns from investments already made. He added that the company would remain “data-driven, relationship-oriented, and thoughtful” in capital deployment.

First-quarter results and shareholder Q&A

Schweitzer told shareholders the company reported first-quarter earnings the day before the meeting, saying momentum from 2025 carried into 2026. He reported diluted earnings per share of $0.96, a 24.7% increase over the first quarter of 2025. He also said the company increased its quarterly dividend to $0.23 per share and repurchased more than 351,000 shares in the first quarter.

In the brief question-and-answer portion, an attendee asked about the percentage owned by institutional investors. The operator responded that it was “right around 8%” and said it had been stable for a number of years.

Schweitzer said the company remained optimistic about 2026, while acknowledging uncertainty tied to the war in Ukraine and its impact on gas prices and the overall economy. He also noted 2026 would be significant as the company approaches its 150th anniversary in June.

The meeting concluded with Schweitzer congratulating the re-elected directors and adjourning after announcing a brief reorganizational meeting for directors.

About Univest Corporation of Pennsylvania NASDAQ: UVSP

Univest Corporation of Pennsylvania is a financial holding company headquartered in Souderton, Pennsylvania, operating through its primary subsidiary, Univest Bank and Trust Co The company offers a comprehensive range of banking services, including commercial and consumer lending, deposit products, mortgage banking, treasury and payment solutions, and wealth management services. Through its community banking model, Univest serves individuals, small to middle-market businesses, and nonprofit and public institutions.

Founded in 1893 as Souderton Industrial Savings Association, Univest has grown through a combination of organic expansion and targeted acquisitions.

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