Capitol Research Division
SNL Financial
Table of Contents
2 Financial Performance
5 Mission and Profile
6 Letter to Shareholders
8 Unchanging Values
20 Officers and Directors
22 Locations
24 Shareholder Information
Financial Pcrformmce
.5 Y e x Trendr
Net Loans (Millions):
Earnings Per Share:
Book Value Per Share:
. .
Shareholders’ Eguitv (Millions):
.
Management Succession: A Strong Leadership Team. (From Left to Right/ Marvin A. Anders, Outgoing Chairman is pictured
with the new leadership team appointed by the Univest Board of Directors. K. Leon Moyer, Senior Executive Vice President
of Univest Corporation, President, Chief Operating Officer and Director of Univest National Bank and Trust Co. Wallace H.
Bieler, Senior Executive Vice President, Chief Financial Officer. Chief Operation Officer, and Corporate Secretary for Univest
Corporation and Univest National Bank and Trust Co. William S. Aichele, Chairman, President and Chief Executive Officer
for Univest Corporation, Chairman and Chief Executive Officer for Univest National Bank and Trust Co.. Chairman of Univest
Insurance, Inc. and Univest Investments, Inc.
AT DECEMBER 31, (IN THOUSANDS)
q
11 :iiiii diic from h i k s . . . . . . . . . . . I,
n u :iii(l fcd h i l i d 5 s2!IS
Otiicr Asscrs . . . . . . . . . . .
Aswts. . . . . . . . . . . . s
Ikposits . . . . . . . . . . . 'z
Rwwwiii$s . . . . . . . . . . .
Orlicr i i h i l i r i c s . . . . . . . . . . .
Linbilirii. . . . . . . . . . . . .
5
1,27O,?(iS
2 16,930
24,212
1,511. i i 6
FOR THE YEARS ENDED DECEMBER 31, (IN THousaws. EXCEPT PER SHARE DATa)
2003"
2002
4
71.965
21.150
4
50,81 i
;3,040
25,814
4 - 3 6
Mission Statement
Our purpose and philosophy is to be a strong, influential leader in the markets we choose to serve. We will
provide financial solutions to individuals, businesses, and nonprofit organizations; maintain an active role in
our communities; and build loyal relationships with our customers and employees so that a fair profit will be
provided for both the Corporation and our shareholders.
Corporate Profile
Univest Corporation is a +h-ania because we
believe in innovation and performance, using technology to improvc the products we offer, but never forgetting
the warm, personal service so important to ON customers. As we continue to he a leader in the markets we choose
to serve, we will remain close to our customers, strengthening our existing relationships and building new ones.
We take pride in being an organization that offers our customers an expanding scope of services while maintaining
traditional beliefs and a determined commitment to the communiq7.
A Fond Farewell
I am pleased to announce my retirement alier 47 years of service with
Univest Corporation. It has been an honor to be a part of this company,
to work closely with our employees, customers, shareholders, and the
community, and help to grow our Corporation into one of the h e s t financial
serticc piuviders in the region When I started nith Univest, we only
provided basic banking services. Today, we are a Mly integrated financial
3
The Year In Review
Dear Univest Shareholder:
We are pleased to report another year of solid achievements across our integrated platform of financial
solutions for Univest Corporation. It was a year marked by many ~uccesse~ and challenges. In 2004, a low
interest rate environment dominated our industry for the fourth consecutive year. While we started to see
interest rates rise in the second halfof the year, the financial impact from the first six months coupled with
increased competition impacted industry performance. At Univest, we are proud of our financial achiemiicnt
with net income reported of $23,591,000. This represents a 2.2% increase over the previous record year.
In 2004, we continued to focus on upholding the high standards of o u r vision, mission and cure values.
Additional attention was given to providing outstanding service to our shareholders and delivering increased
value. Our Board of Directors declared significant qiiarterly dividends of$.25 prr share, a 23% increase
over each dividend paid in 2003. On June 25, we experienced a milestone when the Russell Index recognized
Univest as onc of the top 3,000 performing companies. We are pleased the investment community recognizes
our solid performance and commitnicnt to incrcasiiig shareholder valuc.
Univest's dedication to providing Fiiznncial Solzrtions Fou Life was apparent in our business activities and
successes throughout the year. We made great strides in becoming a stronger integrated company, working
hard to increase sales across all business lines and strengthening our brand in the community. In 2004, we
continued the expansion of our financial service centers with the opening of our 36* office in Skippack,
Montgomery County. Construction also bcgan on our state-of-the art facility in Kulpsville, Montgomery
County, which is expected to open in Spring 2005.
On December 23, Univest Corporation announced the acquisition of Donald I<. Martin & Company,
an insurance agency located i n West Chester, PA. Donald I<. iMartin & Company, A DixTision of Univest
Insurance, Inc., specializes in property and casualty insurance for commercial clients with a focus on the
nonprofit sector. This exciting acquisition enables Univest to provide insurance solutions for the first time
in Chester County.
Reaching out to the cominuiutics in our ncwcr markets continues to bc essential to helpiiig us increase brand
awareness. A notable achicvcmcnt was the expansion of the 77" annual Univest Grand Prix. This year, we
continued with the race held on Saturday in Souderton, and we unveiled the international cycling festival on
Sunday in Doylestuwn, Bucks County. Thousands of cycling fans lined the race route as Univcst introduced
one of the region's most exciting sporting and community events.
We made key advances in tcchnology for our customcrs, shareholders and cmployccs in 2004. After several
years of planning and preparation, we launched our new Weh site located a t wivw.zLnivcst.net. Featuring a
more convenient design and new services, the site provides customers with easy access to free online
banking, bill payment, e-statements and other helpful information. We also launched a new link from our
W'eb site www.univert.net, providing shareholders access to industry, company, and shareholder data.
A major undertaking for 2004 was impleinenting the regulatory changes required by the Sarbanes-Oxley
Act. Lhlikc many puhlicly held companies, Univcst's approach was unique. Following our long-standing
tradition of protecting our excellent reputation and exercising the highest standards of corporate gwernancc,
w e chose to forego third party involvement and implemented the Act by engaging our employees. With their
incredible support, hard work and dedication, w e are in full compliance \+ith Sarbanes-Oxlcy.
In September, Marvin A. Anders announced he would mire as Chairman of the Board, effective Deccmher 31,2004,
and an extensive management succcssion plan was presented. The plan aligns our executive manageinent team
with the evolving needs of our growing financial institution. William S. Aichele, who held the title of President
and Chief Executiw Officer of the Corporation and Bank, was also elected Chairman of the Corporation and
its three subsidiaries. K. Leon Moyer, who held the title of Senior Executive Vice President for the Corporation
and Bank, was elected to Seniiir Exscutivc Vice President of the Corpcmtion and President, Chief Operating
Officer and Director for Univest National Bank and Trust Co. Wallace H. Bielcr, who held the title (ifSenior
Executive Vice President, Chief Financial Officer, and Corporate Secretary for the Corporation and Bank, was
also elcctcd Chief Operation Officer of Univest Corporation. Marvin A. Andcrs will continue to serve OIJ the
Univest Board of Directors.
Unchanging Values
organization's unchanging values. Our integrated
Throughout Univest's 128-year history, we
successes in 2004 are due, in large measure, to
have experienced many changes - a growing
our long-term commitment to tradition, excellence,
marketplace, increased competition, industry
spirituality, community and integrity. In these
deregulation, advances in technology, new
pages, we will share our highlights with you.
products and sewices and ever-changing
regulatory requirements. We are proud that
while the world around us continues to
change, w e strive to be a leader in the market
and remain true to our roots. Our excellent
leadership teams and dedicated employees
strive to live out Univest's mission statement,
demonstrating a deep commitment to the
2004 Year in Review
The year 2004 proved to be one in which
Univest made great strides in becoming a
successfully integrated financial services
provider. We elevated our brand in the
marketplace and raised awareness for being
more than a bank ... offering, Financiai
Solutions For Life.
Univest has earned a reputation as one of
the region's top performing financial holding
companies. In an increasingly competitive market,
our tradition of providing results through hard
work and innovation helps to differentiate us.
We continue to create long-term sustainable
growth, building a strong balance sheet that
helps us remain independent. In 2004, we once
again lived up to that tradition. We delivered a
2.2 percent increase in net income, the highest
in Univest's history, and increased our dividend
payout to shareholders by 25 percent. For our
customers, w e delivered innovative solutions
across business lines and continued to offer
competitive rates in a changing rate environment.
New Markets, New Solutions
On January 30, w e celebrated the grand
opening of a new financial service center
in Skippack, Montgomeiy County. This
insurance and investment needs.
Our cross-selling initiative requires that
every Univest associate - from teller
to branch manager to financial advisor -
office features an Express Banking Center,
listens carefully to our customers in ordel
which provides business customers with
24-hour-a-day access to make deposits
and receive rolled coin and bill exchanges.
A Coin to Cash machine, available free of
charge to customers and non-customers,
is another added convenience.
to assist them with their finances.
At Univest, w e believe that our people
are our most important asset. And in
2004, we placed many of our associates
in new positions to take advantage of
their talents and appropriately align the
organization with the growing needs of
Retail Banking launched a new line of
our customers.
checking accounts in May. The six new
personal accounts range from Classic
Checking with basic services, to Rewards
Checking with several free benefits.
Growth of core deposits remains a primary
focus and these new accounts were
designed to meet the individual banking
needs of a wide range of customers.
Superior service is a Univest hallmark and
a true characteristic of our culture. Our
commitment to excellent service remains
a competitive advantage in a market
crowded with impersonal, regional and
mega-banks. Part of delivering excellent
sewice is identifying customers banking.
The vault;s the mast distinctive feature
of our historic Souderton Office.
Integrated Successes
In 2004, Univest Insurance grew impressively
Despite sluggish economic recovery, many
despite a softening insurance market in which
Univest business units performed extremely
competition is stiff and rates are being reduced.
well. Strong real estate lending helped produce
As an independent agency, we are able to
a double-digit increase in our Corporate Banking
offer insurance through more than 50 carriers,
loan portfolio. Doubling its 2004 performance
including some of the strongest regional and
goal, our Private Banking business unit also
national companies. Our commercial property
experienced a solid year. Small business
and casualty insurance line remains the bedrock
development, the lifeblood of our communities,
of our insurance business, while our group
experienced healthy growth in 2004, and
insurance offerings represent significant growth
Univest remained one of the top community
opportunities. With the cost of medical services
bank providers of Small Business Administration
continuing to rise, employee benefit solutions
(SBAI 7(a) loans. We were particularly proud
for our business clients are a strong point
when a long-time customer, Byers Choice,
of differentiation.
received district and regional SBA recognition
for their growth and excellent business
Through the integrated efforts of Univest
performance. Univest was also pleased to
Insurance, Retail Banking and Wealth
present Pocono Turf Supply Company, Inc. in
Management &Trust, w e introduced a package
Horsham, Montgomery County with the Univest
of employer solutions to help meet the
2004 Small Business of the Year award.
needs of our business customers. We worked
together to help businesses research, design,
plan and implement customized employee
benefit packages with health, payroll, 401 K and
traditional banking solutions.
~ Univest representatives present the third Univest Small
~ Business Achievement Award. From ieft to right: Patricia J.
Kratz, Willjam S. Aichele, Thomas J. Hunter of Pocono Turf
Slipply Company, Inc., K. Leon Moyer; aiid Roriaid S. Price.
Enhanced Technology
In October, Univest adopted the Check
To support our sales and customer
21 Act, the federal law that is designed
sewice efforts, Univest associates
to enable banks to process check images
employed a variety of new technology
electronically, making the process faster
tools in 2004. We launched our new Web
and more efficient. While many banks
site, located a t www.univesr.neT, featuring
in the industry struggled to implement
a more interactive environment. The newly
the Act, it was a seamless transition for
designed site provides customers with
our customers who have been receiving
easy access to free online banking, bill
check images since 2001.
payment and links with additional services
for shareholders. Creating and bringing the
We completed the first full year of using
new site online was a true team effort,
our Customer Relationship Management
and the result underscores our ability
(CRM) software in 2004 While helping
to deliver integrated financial solutions
Univest associates to improve sales in
through the ever-dynamic e-channel.
banking, insurance and investments, the
software also helps employees provide
In addition to our enhanced Web site
services, w e are one of the few local
community banks now able to provide our
customers with electronic statements.
This is a highly valued service for a growing
number of customers who prefer to use
the Internet for their banking needs.
Customers now have the convenience
of managing finances online, receiving
statements in a timelier manner, and
reducing paperwork.
Univest's historical spiritual roots run deep,
execute meaningful, mutually beneficial
and they are evident daily in the way
charitable donations to support worthy
w e treat and work with one another.
nonprofits. Through the Foundation,
We strive to do "the right thing,"whether
individuals can achieve significant tax
it's in our interactions with fellow
advantages by supporting nonprofit
employees. customers or the community.
organizations through endowments, gift
funds, remainder and lead trusts and,
One of the most notable expressions
beginning in 2005, gift annuities. In 2004,
of this philosophy is the Univest
the Foundation increased its offerings to
Foundation. Incorporated in 2003
clients through a link on the new Web site
as a separate 501 (ci(3) organization,
www.univest.net, enabling convenient
the Foundation helps high net worth
access to planning assistance, projections,
individuals and families design and
calculators and other valuable tools
and information.
Growing Relationships
In December 2004, Univest acquired the
Donald K. Martin &Company insurance
agency in West Chester, Pennsylvania.
Through this agency's strong relationships
with nonprofit organizations such as
churches, senior adult communities and
life care communities, we are enhancing
the services w e provide to faith-based and
other vital community organizations. The
acquisition also extends, for the first time,
our footprint into Chester County, enabling
us to provide these residents with access
to the same full line of financial solutions
available to our customers in Bucks and
Montgomey counties.
Univest continues to be a leader in serving
Providing a pleasant work environment
family businesses through our Corporate,
and stimulating employment is part of
Private and Reiail Banking areas.
what we do to create a fulfilling career for
Generations of businesses and individuals
the associates of Univest. Listening to our
have benefited from our full platform of
employees is an essential part of creating
financial solutions - from checking and
a company for which they enjoy working.
savings to insurance and investments.
In 2004, we implemented a program to
We have many business customers who
solicit employee input on job satisfaction,
are second and third generation owners
suggestions for improving current
and have been banking with us for 20,30
processes and programs and ideas for
and even 40 or more years!
new initiatives. As a result of this program,
w e have started implementing many
Increased competition in our region led
recommendations that will make Univest
to several banks adopting seven-day-a-
a better place to work and an organization
week banking. While delivering excellent
that is even more responsive to customers
customer service remains a top priority
and shareholders.
at Univest, we recognize the importance
of providing odr employees with time to
spend with their families. A healthy balance
between work life and family life is critical
to attracting and retaining high-performing
employees and achieving overall success
for the Corporation.
The Univest Insurance corporate
office is located in Lansdale,
Montgomery County
Univest's mission statement offers
Univest a prominent foothold in Bucks
compelling evidence of how w e view our
County, and throughout 2004 w e worked
role in the community: "Our purpose and
to build our brand, develop relationships
philosophy is to be a strong, influential
and create new business opportunities.
leader in the markets we choose to
Our employees in these offices also
serve;" to "maintain an active role in
got involved in their communities by
our communities."
joining local boards, supporting local
causes, volunteering their time and in
In 2004, a major operational focus was
other ways contributing to civic life.
the continued assimilation of the financial
service centers formerly under the
First County and Suburban Community
banners. These 2003 acquisitions gave
The remnants of Hurricane Ivan didn?
deter competitors during the first day of
the 2004 Univesr Grand Prix iii Souderton
The sun shown brightly on the inaugural
ruiiiiing o f t h e Univest Grand Prix in
Doylesfown. Wliliam S. Aichele
congratiilates the winners.
14
L
Serving Nonprofits
Our Corporate Banking operation continued
its tradition of serving the nonprofit
community, providing it with fair lending
opportunities. Without Univest's support,
many nonprofit organizations would not be
able to do all of the good work they do
throughout our communities. We don't
just provide financing assistance. We take
a more holistic, consultative approach and
work to build relationships. We serve on
nonprofit boards and offer our expertise to
help them with their finances, fundraising
and day-to-day operations.
In addition to our financial support to
nonprofits. w e also continue to be a leader
in the Community Lenders Community
Development Corporation (CDC). Founded
in 1998. the consortium of community
banks continues to provide low-interest
financing for affordable housing and other
community development projects.
He:piiig Uirivest celebrate the
second Helping Hands Day in
Buchs Counly was Buzzbee,
the 8-101 radio niascot
Community Outreach
grateful appreciation to the countless
Beyond our support of various organizations
volunteers and local businesses that
thi-oughout our marketplace, we have
made the 7Ip annual Univest Grand Prix
traditionally been an advocate for events
a success.
driving community spirit and involvement.
The Univest Grand Prix remains one of
Our other significant community
the most anticipated and colorful annual
program is Univest Helping Hands,
community events in southeastern
designed to encourage employees
Pennsylvania. This year, the event was
to become more involved in our
held not only in Souderton, but was
communities and to educate the public
expanded to a second day in Doylestown.
on the need for volunteers. In 2004,
Top cycling teams from North America,
we expanded our program reach into
France, Belgium, Holland and Italy
Bucks County by holding expo-style
participated in men and women's races.
events in Doylestown and Langhorne.
Spectators were treated to competitive
We hosted dozens of charitable
races and enjoyed games, food,
organizations and provided employees
giveaways and more.
and local residents an opportunity to sign
up to volunteer with these important
The second day of racing in one of our
community resources
newer markets was a tremendous way
for us to demonstrate our commitment
to serving our communities. As the
event grew, so did our support from the
community, volunteers and businesses.
In addition to other new sponsors,
we were pleased to bring on a major
contributor: Doylestown's daily newspaper,
The inreiiigencer. They joined Leidy's,
Rosenberger's Dairies, Bergey's, Clemens
Family Markets, Comcast SportsNet
and WFMZ-TV. We want to extend our
Bergeys Dealership is a long-tern1 llnwest customer arid a supporter of the
Griiiid Prix. Anthony D. DaCosta Ilehl, Retail Loan Originalor for Uiiivesl, helps
Hergey's Patricia A. Tucker provide fiiranciiig for the dealersliip's ciistoniers.
Employees, customers, sharelholders and
shareholders and the public. One of
communities all value relationships that
the biggest challenges for many public
are built on integrity. For Univest, acting
companies in 2004 -including Univest -
with integrity is not just how w e deal with
was implementing the necessary
our various audiences; it is critical to the
processes and operational changes to
business success of an enterprise that
comply with SOX Section 404. This was
offers a variety of financial solutions for
a major undertaking, and Univest met the
customers. Increasingly, integrity also is
Act's requirements head-on by involving
a t the heart of legislation that impacts
the entire Corporation. Employees were
our industry.
challenged to balance the time-consuming
SOX requirements of re-evaluating and
The Sarbanes-Oxley (SOX) Act was
testing internal controls while handling
passed in 2003 as a reaction to the failure
their regular work responsibilities - and
of several publicly held companies to live
they came through with flying colors. The
up to their responsibilities to employees,
Corporation's external auditors commended
this holistic approach because many other
institutions outsourced their compliance
responsibility
Investment Solutions
To remain competitive in the marketplace
and to respond to growing demands,
Univest now offers investment options fot
various stages of life and asset classes.
In conjunction with the launch of the
Retail Banking checking series, w e
introduced Univest ShareBuilder, which
enables customers to invest in more
than 4.100 stocks and index securities
Integrity is demonstrated daily in the actions of our Wealth Management &
Trust Group. Pictured from left to right: J. Matthew Holliday. Gary E, Brown,
and Fern M. Zepp.
automatically in any dollar amount. This is
increased visibility in 2004 through the
a simple, flexible and affordable way for
launch of an extensive media campaign.
individuals to purchase fractional shares
Throughout the year, we received a
of stock.
tremendous increase in media attention
from the local, regional and national
Univest Investments implemented new
press including CNBC. Bloomberg TV,
online brokerage capabilities targeting
Forbes on Fox and CBS Marketwatch.
investors who wan? to manage their own
Our representatives also were quoted in
finances. The strength of this program
Businessweek, The Christian Science
is that our experienced professionals
Monitor, Investment News, SmartMoney.
deliver reliable, personalized guidance
USA Today and The Wall Sti-eet Journal,
to open the account, then allow the
among others
customer increased flexibility to continue
management of the account electronically
We also elevated the profile of Univest
Investments among customers in 2004
Our Wealth Management &Trust group
and were able to assist more clients
began offering clients Separately
with a broader array of solutions.
Managed Accounts, or SMAs. SMAs
The integration effort between Univest
offer clients an opportunity to customize
Investments and Retail Banking
their portfolios, own individual securities
helped grow the business significantly.
and consolidate investments. Clients
Approximately 75 percent of new
benefit from working with an experienced
business came in through the financial
Univest senior financial advisor, choosing
service centers, which underscores
from an exclusive list of asset managers
the importance of integrity and trust in
defined by asset class, and receiving one
Univest's ability to cross-sell a variety
consolidated statement monthly.
of services.
Raising Our Profile
As Univest's scope of services continues
to increase, so does our credibility and
brand. Our Wealth Management &Trust
operation experienced growth and
2 0 0 4 A N A 7 T D A I . I l F P O R 1
Wealth Management & Trust
representatives are highly
sought experts by the
financial media.
Top - Gary S. Wolfer appears
on Bloomberg TV
Bottom ~ James E. Fisher
appears on
Bloomberg Tv
Unchaii giiig Values
We have shared many of our 2004
Despite the increases in interest rates
highlights in the previous pages, identifying
that led to a decrease in the refinancing
the strong connection between our values
business, our Mortgage Banking area
and our accomplishments. Our five core
values - tradition, excellence, spirituality,
community, and integrity ~ extend beyond
also continued to grow because of an
increase in referrals. And, referrals came
not just from our front-line sales staff,
our business highlights into the way we
but from employees in all business lines
conduct business - and conduct ourselves -
and support areas. Mortgage Banking
day in and day out.
strengthened its scope of services to
include, multi-family, mixed-use, and out of
Dedication and teamwork were critical to
state property loans through relationships
many Univest achievements throughout
with other investors. Many customers
the year, especially with the advances w e
were pleased to learn that Univest could
made in better integrating our services.
provide their primary residential mortgage
Corporate Banking strengthened many
as well as financing for their vacation
customer relationships through Retail
property. United Commercial Abstract. L.P.,
Banking's WorkLife program. Univest
our full-service title insurance agency, is a
Insurance also benefited from strong
convenient way for our customers to obtain
integration with Corporate Banking leading
title insurance for both residential and
the way with the most qualified referrals
commercial mortgages.
Soudelton. lime of our
dest financial service
?nter and our head-
iaflers since 1876
of any business line. Univest Investments
saw strong referrals from other business
areas, too. Clearly. a healthy referral
system is built on trust - our customers'
belief that they will find the same quality
and personalized sewice they've discovered
in one business line in other Univest
financial solutions.
Leadership Development
Univest analyzed the customer service
and leadership skills of our associates
and worked for improvement in 2004.
We provided our employees with a variety
of training programs to help develop
their skills. We hosted another branch
managers' seminar focused on connecting
the new managers from our First County
and Suburban Community acquisitions
Univest's dedication to unchanging values
with other veteran team members so
in 2004 was a beacon in a sea of market
they would benefit from this strong
change and uncertainty. Every day, the
support network. We will continue these
Corporation's employees embody these
educational efforts in 2005, working with
core values in their work and interactions
our employees to provide them with the
in the community, enabling us to be a
tools they need to make sure every service
strong business success and a valued
experience meets the high standards
community resource. All our employees
customers have come to expect from us.
wish to thank you, the shareholders of our
Looking Ahead
enterprise, for your continued support -
and we look forward to working together
In 2004, we enhanced our platform of
to serve you and the needs of our
solutions; worked internally to improve
communities in 2005.
employee satisfaction and deliver excellent
customer service; strengthened our ability
to cross-sell solutions; and implemented
a strategic planning process to create
momentum into 2005. As w e look ahead,
ACTS Retirement~life
Communities' corporate
headquariers are located
in West Point, PA.
I ‘
Officers
n ofjnnnnr? I , ZOOS
U N IVEST C O R P O RAT1 0 N
O F P E N N S Y L V A N I A
Executive Management Group
William S. Aichele,
Chairnzan, President ami
Chzef E x e c n h e Officer
Wallace H. Bieler,
Senior Execntive Vice Presidetat,
Chbf Operation Officer,
ChLf Financial Offcer and
Curpurate Secretary
K. Leon htoycr,
Seniur E.wcutive Vice President
Duane J. Brobst, Executive Vice
President, Chi$ Credit Officer
Douglas R. Delp,
Executive I& President
Kenneth D. Hochstetler,
E.rzcwtiia Vice Pmiident
Diane L. Koehler, Executiiv Vice
President, Chicj’Hi.rk Officer
Ronald S. Price,
FIwecutiue Vice President
Barry L, Stoltzfus,
Executive Vice President
Richard R. Swartley,
Exemtivc Vice President
George D. Terry, Jr.,
Exccutiue Vice President
Senior Vice Presidents
Richard L. Boaman
G. Brian Cooper
Annette D. Szygiel
Vice Presidents
John R. Benner
Linda C. Cahill
Patricia S. Coleman
Barbara J. Cornell
Ted M. Doman
Suzanne M. Fleischmann
Senior Vice Presidents
G. Jay Francis
Richard D. Juniper
Garry R. Kuhnle
Mary Beth Liddle
Mary L. Marger
William B. Meyer
Diane R. hloyer
Keith B. Paich
M. Theresa Schwartzer
Lori L. Shelly
Karen E. Tejkl
Keith C. Thomas
U N IVE ST N A T l O N A L
B A N K A N D T R U S T C O .
Executive Management Group
William S. iiichelc, Chairman
and ChiefExeci~tive Officer
K. Leon Moyer, President and
Chief Operatin8 Office.
Wallace H. Bider,
SenZo?, Executive Vice President,
Chief Financial Office?, a?zd
Corporate Seciwary
Duane J. Brobst, ExeczLtive Vice
Preidcnt, Chief Credit O f f e r
Douglas R. Delp,
Executire Vice Pmident
Ronald S. Price,
E.wczitive T7ice President
Barry L. Stoltzfus,
Execntive Vice President
George D. Terry, Jr.,
Evecntive Vice President
Executive Vice President
H. Paul Lewis
Gary E. Brown
Aileen M. Connolly
J. Matthew Holliday
Kenneth L. Keller
John T. Landes
Rose A. Radcliff
Stephen D. Robinson
Vice Presidents
Stephanie A. Bowers
John J. Buczek
Thomas C. Cassidy, 111
Vernon L. Clemmer
Gregory J. D’Angelo
John C. Dooley
John W. Duerksen
Carmella A. Faust
James E. Fisher
Darlene E. Grafton
David C. Groves
Darren G . Johnson
Patricia J. Kratz
Cynthia D. Lauterbach
William D. Maeglin
William F. Marks
Teresa A. Mason
Timothy E. Mininger
Richard t5’. Slabinski, Jr.
James M. Spindler
Raymon iM. Staley
Timothy V. Swartley
Jane E. Ward
Harry A. Wenzel
Gary S. Wolfer
Fern M. Zepp
OTHER PRINCIPAL
UNIVEST INVESTMENTS, INC.
S U B S I D I A R I E S U N I V E S T
William S. Aichele, L%ail.nzail
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
Univest Rcalty Corporation
Univest Reinsurance
Corporation
Univest Delaware, Inc.
I Iirect o r s
,!1 ,,/ / , ? , , l , , l ! . , ~ i. Jilll->
William S. Aichele *t
Chairman, President and Chief
Execzrtive Oficer, Univert
Corpuration ufPennqlvania; niid
Chairman, and Chief Executive
f)fjcev, C?ziiwt Mationnl Rank
and Twst Co.
Marvin A. Andcrs *t
Retired Chaiuman, Univest
Curporatiun of Pmwylvauia;
mid Retired Chnivmaii, Univest
Natioizaltlank and Zust Cu.
James 1,. Bergey *I
PYesident and Sales M a m . e r
Abrnm W Regey &Suns, Inc.
R. I h e Delp *
Principal,
R.L. De@ C? Cumpay
Kenneth D. Hochstetlcr, President
Darren C . Johnson, Vzcel+eszdent
UNIVEST INSURANCE. INC.
William S. Aichele, Chnirmnn
Kciineth D. Hochstetler,
Pmident
George Becker, Jr.,
Senior Vice l’mident
Richard W. Godshall, M.D.”
Upper Bucks Orthopaedic Associntes
Charles H. Hoeflich *t
Chzii-m.an Emeritus, Uwivest
Clorpwation ufl’e?zri.c/lvanin
Norman L. Kellcr *
Retired Execartive Vice
President. Umivest Corporation
of Pennsylvania
Thomas K. Lcidy *t
Pvesident atad ChiefExecntive
Officer, Ixidy’r, Inc.
H. Ray Mininger *
Pueside%t,
H. Il”iini?ger C?Suu, h c .
William G. Morral’
Execectitive Director.
Morth Penn United Way
Donald K. Martin,
.%xior Vice Pwsident
William R. Erickson,
Vice P’resident
Christine 13. Lightfoot,
Vice President
Hervey tt’. Schofield,
Vice Presideizt
Gail M. Strohnieyer,
Vice Pmidetat
Richard Theis,
I’ice President
K. Leon IMoyer t
President and Chief fperatiilg
O f f e r , Unii7est ?Jntiunal RavLk
and Trust Co.
Merrill S. Moyer *
Retired Chairmail, Zinivest
Corporation of Peniirylvania;
aizd Rctiwd Chairman, U?ziim
National Bank nizd Trust C u .
Paul Gregory Shelly *t
President,
Shellv Enterpiser, Inc.
John U. Young *
Consdtnnt mid Director
Alde@r Rolognn Co., Im.
Margaret K. Zook O
Executive Director,
Soudertuii hfeunnaite Homes
* Director of Univest Corporation of Pennsylvania
t Director of Univest National Bank and Trust Co.
Alternate Director of Univest Corporation of Pennsyhania
21
Locations
Univest Plaza Office
Corpovate Headquarten
14 North Main Street
PO Bos 64197
Souderton, PA 18964
1.800.660.4276 or 215.721.2400
Univest Investments, Inc.
14 North Main Street
PO Box 64197
Souderton, PA 18964
215.721.2112
Univest Insurance. Inc.
521 West Main Street
Lansdale, PA 19446
1.800.220.3077
Univest Insurance, Inc.
(West Chester Office)
27 South Church Street
West Chester, PA 19382
1.800.875.0227
Bensalem Office
3325 Street Road
4 Greenwood Square
Bensalem, PA 19020
215.244.9200
Buckingham Office
Hunt Acres Center
5006 York Road
Holicong, PA 18928
215.794.5916
Center Point Office
2960 Skippack Pike
Worcester, PL4 19490
610.584.8450
Center Square Office
Clemens Market
1301 Skippack Pike
Center Square, PA 19422
610.279.3901
Chalfont Office
195 East Butler Avenue
Chalfont, PA 18914
215.996.1633
Doylestown Office
191 West State Strcet
Doylestown, PA 18901
215.348.7966
Doylestown Cross Keys Office
842 Korth Easton Road
Doylestown, PA 18901
215.348.8620
East Greenville Office
321 Main Street
East Greenville, PA 18041
215.679.7928
Feasterville Office
40 East Street Road
Feasterville, PA 19053
215.354.0330
Franconia Office
500 Harleysville Pike
Franconia, PA 18924
215.721.0707
Green Lane Office
101 Walnut Street
Green Lane, PA 18054
215.234.4511
Harleysville Office
Clemens Market
611 Main Street
Harleysville, PA 19438
215.256.8048
H i l l t o w n Supermarket Office
Clemens Market
731 Route 113
Souderton, PA 18964
215.721.9863
H i l l t o w n Office
Routes 113 & 309
Souderton, PA 18964
215721.2471
Kulpsville Office
1715 Sumncytown Pike
Kulpsville, PA 19443
215.368.1666
Lansdale Area Office
2333 West Main Street, Suite 12
Lansdale, PA 19446
215.362.8835
Lansdale East Office
Clemens Market
620 East Main Street
Lansdale, PA 19446
215.412.9750
Line Lexington Office
Route 309 &Line Lexington Road
Line Lexington, PA 18932
215.822.3314
M i l f o r d Office
1950 John Fries Highway
Milford Square, PA 18935
215.536.4204
Montgomery Office
986 Bethlehem Pike
Montgomeryville, PA 18936
215.699.3525
N e w Britain Office
Clemens Market
202 Town Ccuter
New Britain, PA 18901
215.345.8259
N e w t o w n Office
3 Friends Lane
Kervtown, PA 18940
215.504.2828
Oxford Valley Office
100 K. Buckstown Drive
Suite E-205
Langhorne, PA 19047
215.891.0201
Perkasie Office
545 Constitution Avenue
Perkasie, P.4 18944
215.257.6607
Corporate Headquarters
Univest Stock Transfer Agent
Univest Plaza
14 North Main Street
P.O. Box 64197
Souderton, Pennsylvania 18964
Shareholders’ Meeting
The Annual Sharcholdcrs’ Meeting
will take place at 10:45 am.,
Tuesday,April 12,2005, in thc
Board Room at Univest Plaza,
14 North Main Street,
Souderton, Pennsylvania.
For more information on Univest
Corporation of Pennsylvania com-
iiion stock, please call StockTraiis,
Inc. at 610.649.7300 or contact
them at 44 West Lancastcr ,4veiiuc,
A4rd~iiorc, PA 19003. You may
also click on our invcstor relations
link at iuww.univest.net.
Univest Shareholder
Information Hotline
For more information on the
Univest Corporation of
Pennsylvania, plcasc call
215.721.2434.
Market Makers lor Univest
Corporation of Pennsylvania
Common Stock
Bocnniiig & Scattergood, Iiic.
Ferris Baker Watts, Inc.
Hill, Thompson, Magid & Co.
Janney Montgomery, I d C
Knight Securities, L.P.
Legg Mason Wood Walker, Inc.
Moors & Cabot, Iiic.
Ryan Beck & Co., Inc.
Susquchanna Capital Group
Repr
R e x
(Sec
Rose
esent
iurcer
urityl,
‘ A . Ri