Univest Financial Corporation Announces Completion of $50.0 Million Subordinated Debt Offering

SOUDERTON, Pa., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Univest Financial Corporation (the “Corporation”) (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today announced the closing of a $50.0 million private placement of fixed-to-floating rate subordinated notes. The Corporation plans to use the proceeds to redeem its outstanding $80.0 million of callable subordinated notes and for general corporate purposes.

The notes have a maturity date of November 15, 2035, and carry a fixed rate of interest of 6.00% for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 261.5 basis points. The notes may be redeemed at the option of the Corporation, without penalty, on or after November 15, 2030, or earlier upon certain specified events. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

In connection with the issuance and sale of the notes, the Corporation entered into registration rights agreements with the purchasers of the notes pursuant to which the Corporation has agreed to take certain actions to provide for the exchange of the notes for subordinated notes that are registered under the Securities Act of 1933, as amended, with substantially the same terms as the notes.

Piper Sandler & Co. served as sole placement agent for the private offering.  The Corporation was advised by Luse Gorman, PC and Piper Sandler & Co. was advised by Troutman Pepper Locke LLP.

The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy any security, nor shall there be any sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The indebtedness evidenced by the notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.