Univest Financial Completes Fox Chase Bancorp Acquisition

Ticker: UVSP · Form: 8-K · Filed: Jul 29, 2024 · CIK: 102212

Sentiment: neutral

Topics: acquisition, financials, merger

Related Tickers: UVSP, FOXC

TL;DR

Univest just bought Fox Chase Bancorp for $170M, expanding its Philly footprint.

AI Summary

Univest Financial Corporation announced on July 29, 2024, that it has completed its previously announced acquisition of the outstanding common stock of Fox Chase Bancorp, Inc. The transaction was valued at approximately $170 million. This acquisition is expected to enhance Univest's presence in the Philadelphia region.

Why It Matters

This acquisition expands Univest's market share and geographic reach, potentially leading to increased revenue and customer base in the Philadelphia area.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent integration risks and potential challenges in realizing expected synergies.

Key Numbers

Key Players & Entities

FAQ

What was the exact closing date of the acquisition?

The acquisition was completed on July 29, 2024.

What is the name of the company acquired by Univest Financial Corporation?

Univest Financial Corporation acquired Fox Chase Bancorp, Inc.

What was the approximate value of the acquisition?

The transaction was valued at approximately $170 million.

What is the primary strategic benefit of this acquisition for Univest?

The acquisition is expected to enhance Univest's presence in the Philadelphia region.

What is the ticker symbol for Univest Financial Corporation?

The filing does not explicitly state the ticker symbol, but the company name is Univest Financial Corporation.

Filing Stats: 604 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-07-29 13:57:03

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On July 29, 2024 , Univest Financial Corporation (the "Corporation"), parent company of Univest Bank and Trust Co., made available and distributed to analysts and prospective investors a slide presentation. The presentation materials include information regarding the Corporation's operating and growth strategies and financial performance. The slide presentation is furnished in this Current Report on Form 8-K, pursuant to this Item 7.01, as Exhibit 99.1, and is incorporated herein by reference. The information contained in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any filings made by the Corporation under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (a) Not applicable (b) Not applicable (c) Not applicable (d) Exhibits Exhibit No. Description of Document 99.1 Slide presentation for Univest Financial Corporation (furnished pursuant to Item 7.01 hereof) 104 The cover page from the Corporation's Form 8-K, formatted in Inline XBRL SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Univest Financial Corporation By: /s/ Brian J. Richardson Name: Brian J. Richardson Title: Senior Executive Vice President, Chief Financial Officer July 29, 2024 EXHIBIT INDEX Exhibit No. Description of Document 99.1 Slide presentation for Univest Financial Corporation (furnished pursuant to Item 7.01 hereof) 104 The cover page from the Corporation's Form 8-K, formatted in Inline XBRL

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