CONTENTS
Our Corporrtte Business Dcvclopmcnr team is responsiblc for- utilizing prodricts a n d services
from all divisioiis of’ the organization to acq~iire iicw business relutionships. Prospects ai-e
contacted through pc
jnal visits, referrals from 3ttoi-rlc!’s a ~ ~ d
:lCCc)tlIitii11ts, and hy doing fidlow
lip to quarterly direct m~rkctirig initiatives ;is w i s sccn with our unicluc
poixtc “drip” glovc
caiiipaign. Kciiifbr-cing oui- taglinc, “A little Iiandlioldi tig iicver hurt aiiyoiie,77 pairs of gloves,
each with ;I diffcrcnt ilrcriic and riiessage, were mailed to :i sclcct groty of Iwsinc-ss prospects
pcriotlically t lirougliout the p i - . ‘Ihc campnign’s goal was to crcate business opportunities aiid
enhance tl-ie corporate sales process. To date, the results liavc bccri vcry fiivorable and plans are
Liiicicrwiy t o continue the canipaigil in 2003.
and unclcrstand their needs, tlwi suggest
_ _
resirlentinl morrgages,
Iiome eqiiity
loxis und
investment, insurance , i d trust services.
liclationship managcrs are responsiblt. h r c x c u t i n g
Univest’s retention stratcgics. ‘Ib meet o u r overall
strutcgic objective nf
incrcasing tht. number of
corporate relationships ycar after )7c;ir, we work hard to
retain o u r existing cListoiiicrs. Tlic elcctronic delivery
of daily sweep notices \vas a scrvicc e1i11~~n~c111ent
that
baicfitcd oiir cuszomm while resulting in a sigilificrtilt
savings t o IJnivest.
C:oiitiniiirig cducazion and de~7elopiiie1it of oui-
lcnding staff focused o n supporting thc integration
of all finvicial scrvjccs offercd at Univest, and
tccliniqucs to maintain a quality Ionn portfolio in ;I
clianging K C O I I O I ~ ~ ~ / .
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13espitc ;i weakeniiig cconomv, the quality of O L I ~
loan portfolio continucd t o compare f h r a b l y to
o u r industry peer groups. More aggrcssive risk
rnanagernent prxticcs put into placc. during the
last scveral ycurs Iiiwc cont inurd to cnhanrc thc
iii;liiapmctit of our c~\~c~i11
portfolio. All lending
areas are rcsponsil7le for maintaining the bniancc
hetween growth and quality i l l order to meet d ~ s e
risk nianagement objectives.
are the
ehind robust
Tlic S;11.1~3IiC‘s-Oxle!, Act of 2002 wns pnsscd 3s ;i n’iictim t o tlrc doamf~i11
of several coi.poritr Anicricun gi;iJits, Nor siiice tlie 19.70s have accounting,
financial and otlicr busiricss ilinctions bccn s o scrntinizetl. Ethical practices aiid
procedures arc tlie ti)undation of this new hill desigiicci to strciigtlim corpmxtc
g o w x ” c e activities.
Since our fbunding in 1 X7h, ethics aiici ~ ~ ~ l u c s
havc been the basis o~cvcryihing wc
do at Univest. O u r Mission Stazctiicnr says, “ Wc will provide financial solutions to
individuals, busincsscs and noli-profit orpiizations; rnaintuin xi ;ictivc role in our
cotiimunities; and build loyil rclazionships with our C1ISKOfllerS and c.t-nployecs so
Khat ii f%r profit will he provided for both thc corporation arid oiir sharcho~dcr.5.”
Our corpolrtc ethical culturc is 311 ongoing practice, not a
oiic - ti iiic cffor t . Et liica 1 1 cad el-sh i p pri i i ci plcs 3rc i 11 st i 1 Icd i 11
cvery ernployee, at every level, throughout his or her entire
Uiiivest carccr. Ethics iiiattcr, m d our coiiiiiiitiiieiit to
et liica 1 conduct is ci mmvcriiig.
A ilot h e r e x a m pl e of et h i c31 f i i a 11 agcm cn t is 011 r d cd i ca t i on to “I n tcI’pr i se Risk
Maixigcriicrit.” O u r full langc of prodwts and services allows us to be “1iiore
t h a n ;I l)i111k.” ‘I’his range of scrvices also makes it possible for us to reduce risk
by creatiiig operating cf’ficicncics, diversifying poteiitial revrnue sources and
compct itig cr‘fccti\cly with otlici- nonbanlc competitors. iiislcs arc identified,
asscssrd, nppropriarcly r-nanagcd atid controlled across the entire cnterprise.
Ongoing risk xscssiiieiits strengthen risk nianngement priicticcs in mi. d a y t o -
day operxions, crcating opportunities to strcngtlicri c ~ ~ s t o ~ i i c r
r-clationsliips nnrl
providc x i ;itt ract ive re tu rn to 011 I’ sha re holders.
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S e n i o r M a n a g e m e n t
Willinm S. Ajchele, i'r
Marvin A. hiders, C7hfii~~~/~fi~i/
Wallucc H. Bieler
I<. T,eoii Moyer, 1
Gcorpc 1). Terry, Jr., 1:;
O t h e r P r i n c i p a l S u b s i d i a r i e s U n i v e s t C o r p o r a t i o n
o f P e n n s y l v a n i a
L'iiivcst Realty CorporCnioil
LJriivcst Reinsurance Corporation
Ilnivesr Delaware Inc.
U n i v e s l I n s u r a n c e I n c .
George Bccker, Jr., i
Willi,mi R. Erickson, T
.