2006
Annual Report 2006 | Over 130 Years of Making a Difference in Our Communities
Table of Contents | UNIVEST 2006 Annual Report
Ta b l e o f C o n t e n t s
3
| Our History
4-5
| Financial Performance and Highlights
6-7
| Letter to Shareholders
8-13
| Growth Highlights 2006
14-15 | Officers and Board of Directors
16-17
| Locations
18
| Shareholder Information
“He gives strength to the weary and increases the power of the weak...but those who hope in
the Lord will renew their strength. They will soar on wings like eagles; they will run and not
grow weary, they will walk and not faint.”
—Isaiah 40:29,31
O u r H i s t o r y
130 Years of Service, Leadership and Growth
3
If they could only see us now! The founders of Union National Bank would be proud of what their
one-room operation has become in 130 years. They would be astounded at our growth and the
opportunities we’ve seized to diversify our portfolio of financial solutions. Certainly, the founders would
also be pleased to know their core philosophy stood the test of time. Through generations of strong
leadership, multiple acquisitions expanding our financial offerings and service area and a corporate
repositioning effort to enhance our brand, our vision of a true community bank remains as alive today as it
was back in 1876.
Univest was born as Union National Bank on June 12, 1876. Founded to serve the post-Civil War financial
needs of a growing community, Union National grew slowly and steadily. Over the years, other corporate
names were introduced or incorporated — Souderton Building and Loan Association; Pennview Savings
Bank; First County Bank; and Suburban Community Bank. The branch network grew from the first
location at 24 Main Street, Souderton, to include locations throughout Bucks and Montgomery counties. In
1973, Univest Corporation of Pennsylvania was formed and began operating as the holding company for
Union National Bank and Pennview Savings Bank. In 2003, both banking subsidiaries merged to become
Univest National Bank and Trust Co.
Deregulation of U.S. financial institutions at the turn of the century enabled Univest to expand its scope of
services to include other business entities, specifically investments and insurance. In 1999, Univest
acquired The Fin-Plan Group, a company offering financial planning, investment management and
brokerage services. The corporation began its foray into the insurance market in 2000 with the acquisition
of George Becker Associates, Inc. In the next six years, Univest added several insurance agencies including
the Gum Agency, Donald K. Martin & Co., and, in 2006, B.G. Balmer & Company. With the two most
recent acquisitions, Univest now serves the Chester County community. Today, Univest Corporation of
Pennsylvania provides Financial Solutions For Life through an integrated platform of solutions and three
subsidiaries — Univest National Bank and Trust Co., Univest Insurance, Inc. and Univest Investments, Inc.
As we reflect on the past 130 years and the positive changes we have made to compete in today’s financial
services industry, it is appropriate to ask, “Can a financial institution offering banking, insurance,
investments, wealth management and trust services from 34 offices still be a community bank?” Many
years ago, the American Banking Association’s Banking Journal sponsored a contest to define “community
bank.” The winning entry read: "A community bank is the financial lifeline of the community, providing
the resources through which consumer and commercial customers perform the financial transactions of the
local economy. It renders these services personally, confidentially and economically, while striving for
community improvement and achievement of the investment return expectations of its shareholders."
As you read this report highlighting our financial and operational performance during 2006, we believe
you’ll conclude that Univest remains a community bank, and in fact sets a high standard for financial
achievement, excellent service and community improvement. This is Univest — 130 years young and
going strong.
O u r H i s t o r y
Financial | Performance
F i n a n c i a l
shareholders equity
Shareholders’ Equity (In Millions)
dividends
earnings per share
dividends
1.96
1.93
1.84
1.80
1.63
1.45
0.78
0.72
0.67
0.53
0.49
0.44
1,340
1,236
1,161
1,050
815
788
1.96
1.93
1.84
1.80
1.63
1.45
Net Loans and Leases (In Millions)*
earnings per share
Net Loans
Book Values
Net Loans
Book Values
1,340
1,236
1,161
1,050
815
788
14.25
13.37
12.47
11.37
10.47
9.34
14.25
13.37
12.47
11.37
10.47
9.34
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
earnings per share
2001 2002 2003 2004 2005 2006
Earnings Per Share (In Dollars)**
Net Loans
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
Book Values
1.96
1.93
1.84
1.80
1.63
1.45
2006
1,340
1,236
1,161
1,050
815
788
2006
14.25
13.37
12.47
11.37
10.47
9.34
2006
Dividends Declared (Per Share)**
1,050
0.78
0.72
0.67
0.53
0.49
0.44
815
788
90
1,340
1,236
1,161
Net Loans
0
20
40
60
80
earnings per share
120
100
2001 2002 2003 2004 2005 2006
1.96
1.93
1.84
1.80
1.63
1.45
2006
90
70
Book Values
2001 2002 2003 2004 2005 2006
Net Loans
1,340
Book Value (Per Share)**
1,236
1,161
50
30
14.25
13.37
10
12.47
11.37
10.47
9.34
1,050
815
788
2000 2001 2002 2003 2004 2005 2006
2006
90
70
50
30
10
2001 2002 2003 2004 2005 2006
Book Values
14.25
13.37
12.47
11.37
10.47
9.34
2000 2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
70
90
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
70
2001 2002 2003 2004 2005 2006
2006
50
30
10
90
0.78
0.72
0.67
0.53
0.49
0.44
185
173
160
146
134
122
shareholders equity
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
dividends
2001 2002 2003 2004 2005 2006
0.78
0.72
2006
0.67
shareholders equity
90
70
50
30
10
0.53
0.49
0.44
dividends
shareholders equity
earnings per share
0
20
40
60
80
100
120
90
70
50
30
10
shareholders equity
185
173
160
146
134
122
185
173
160
146
134
122
90
70
30
10
185
173
160
146
134
122
0.78
0.72
0.67
0.53
0.49
0.44
2006
90
70
50
30
10
90
70
50
30
10
185
173
160
146
134
122
2001 2002 2003 2004 2005 2006
1.96
1.93
1.84
1.80
1.63
1.45
2006
2001 2002 2003 2004 2005 2006
0
20
40
2001 2002 2003 2004 2005 2006
dividends
2001 2002 2003 2004 2005 2006
2001 2002 2003 2004 2005 2006
50
2001 2002 2003 2004 2005 2006
50
30
10
80
*The Corporation acquired First County Bank on May 17, 2003 and Suburban Community Bank on October 4, 2003.
60
** Common Stock data has been restated to give effect to a three-for-two stock split in the form of a dividend declared on March 23, 2005 to shareholders
100
120
70
of record as of April 6, 2005, distributed on April 29, 2005.
2006
50
30
10
2006
0
20
40
60
80
100
120
0
20
40
60
80
100
120
2006
2000 2001 2002 2003 2004 2005 2006
90
70
50
30
10
90
70
50
30
10
90
70
50
30
10
90
70
50
30
10
2006
2000 2001 2002 2003 2004 2005 2006
2006
2000 2001 2002 2003 2004 2005 2006
90
70
50
30
10
2001 2002 2003 2004 2005 2006
2006
5
2006 Financial Highlights
At December 31, (in Thousands)
Cash, interest-earning deposits and fed funds sold
Investment securities
Net loans and leases
Other assets
Assets
Deposits
Borrowings
Other liabilities
Liabilities
2006
$70,355
382,400
1,340,398
136,348
1,929,501
1,488,545
225,066
30,505
1,744,116
2005
$59,439
343,259
1,236,289
130,322
1,769,309
1,366,715
196,761
32,753
1,596,229
Shareholders' equity
Total liabilities and shareholders' equity
185,385
$1,929,501
173,080
$1,769,309
For the years ended December 31,
(in Thousands, Except Share and Per Share Data)
Interest income
Interest expense
Net interest income
Provision for loan and lease losses
Net interest income after provision for loan and lease losses
Noninterest income
Noninterest expense
Net income before income taxes
Applicable income taxes
Net income
*Book value per share
*Net income per share: Basic
Diluted
*Dividends declared per share
2006
$105,166
43,651
61,515
2,215
59,300
25,417
49,958
34,759
9,382
$25,377
$14.25
1.96
1.95
0.78
2005
$85,502
26,264
59,238
2,109
57,129
22,444
45,796
33,777
8,910
$24,867
$13.37
1.93
1.91
0.72
2004
$74,789
18,948
55,841
1,622
54,219
22,603
44,920
31,902
8,311
$23,591
$12.47
1.84
1.80
0.67
*Weighted Average Shares Outstanding
*Period End Shares Outstanding
12,960,074
13,005,329
12,867,080
12,947,001
12,840,596
12,863,427
*Common Stock data has been restated to give effect to a three-for-two stock split in the form of a dividend declared on
March 23, 2005 to shareholders of record as of April 6, 2005, distributed on April 29, 2005.
P e r f o r m a n c e
Letter | to Shareholders
2 0 0 6 Y e a r o f G r o w t h
To our Family of Shareholders, Customers and Employees:
Univest Corporation just completed a milestone year, celebrating the bank’s 130 years of business success and service
to our customers, communities, employees and shareholders. We continued to grow the Corporation by providing
financial solutions, delivering excellent customer service and building strong relationships in our communities.
The financial services industry in 2006 continued to be adversely impacted by an unfavorable interest rate
environment. This has been the longest period of such a challenge for the banking industry and will remain
problematic until these economic conditions change. Univest’s ability to overcome these challenges and achieve
moderate, organic growth is a tribute to our dedicated employees. We are proud of our 2006 financial performance,
reporting net income of $25,377,000. This represents a 2.1% increase over the previous record year.
Univest’s vision of being a fully-integrated financial solutions provider with a diverse revenue base contributed to our
financial success in 2006. Our nontraditional businesses were areas of particular strength, helping us reduce reliance
on net interest income. Univest Insurance’s solid performance resulted from both organic growth and growth through
the acquisition of B.G. Balmer & Co., Inc., a full-service agency located in West Chester, Pennsylvania. Univest
Investments surpassed the half-billion dollar mark with more than $577 million in assets under management, while
the Wealth Management & Trust Group exceeded $1 billion of managed assets.
In May, Univest expanded its platform of financial solutions and services with a new business venture. Vanguard
Leasing, Inc., a subsidiary of Univest National Bank and Trust Co., is a nationwide small ticket leasing company
headquartered in Bensalem, Bucks County. This business will further help diversify Univest’s revenue base and
increase profits.
Through Univest National Bank and Trust Co., we continued our commitment to providing Financial Solutions For
Life. We continued the expansion of our financial service center network with the opening of our Vernfield Office in
Montgomery County. We also launched an aggressive e-commerce strategy to complement our traditional retail sales
channel. For the first time, customers can visit www.univest.net, open a checking account and bank with Univest
online. Among community banks, we are one of the leaders in providing e-commerce solutions to attract new
customers with a preference for online banking.
Commercial banking has been the driving force of our business since 1876 and continues to be the corporation’s
foundation today. To better serve the needs of our corporate customers, we announced a new organizational structure
in September, naming three market presidents. Assuming the new positions are Ronald S. Price, Chester County;
Kenneth L. Keller, Bucks County; and Philip C. Jackson, Montgomery County. This new structure clearly delineates
our markets into three service areas with strong leadership to help us deliver personalized, local service to the
community and support the continued growth of the Univest brand.
7
In addition to our business achievements, Univest continued the tradition of making a difference in and
around our communities. In May, 15 employees formed a Helping Hands team and traveled to Bayou
LaBatre, Alabama to assist with building and clean up efforts in an area that was devastated by Hurricane
Katrina. Our 130th anniversary celebration was a shining example of Univest’s “Community” core value in
action. Events and promotions throughout our anniversary week in June attracted incredible media
coverage, raising Univest’s profile throughout our service area. The Univest Grand Prix also helped
significantly increase visibility for Univest and our communities on live television and through extensive
print and radio publicity. The ninth annual race welcomed our first field of professional cyclists,
entertained thousands of spectators and showcased the Univest name and the beauty of Bucks and
Montgomery counties.
Throughout our 130-year history, Univest’s business and community practices have been guided by our
mission, vision and core values; but in the end, it is the people of Univest — more than 500 employees —
who make our long-term success possible. Our strong culture, built and nurtured by our associates, earned
us recognition in 2006 as one of the Top 100 Best Places to Work in Pennsylvania. As part of our 130th
anniversary celebration, we recognized the contributions of more than two dozen employees who had
devoted 30 or more years of service to Univest.
During this past year, two long-time associates retired from their positions with Univest. After 35 years of
service, Diane R. Moyer retired in August from her position as Vice President, Property Management. In
late December, Fern M. Zepp retired from her position as Vice President and Senior Trust Administrator
after 40 years of service. We want to thank Diane and Fern for their contributions and many years
of leadership.
In 2006, Univest succeeded in growing the Corporation and providing a fair profit to our shareholders.
This is evident in the story that unfolds in the following pages. Please take this opportunity to read our
2006 annual report and reflect on our 130 years of business success. We’re proud of our rich heritage and
the positive changes we’ve made over the years to grow our business into a fully integrated financial
solutions provider. We realize we could not have come so far without the support of the communities we
serve, our customers, our employees and you, our valued shareholders. On behalf of the entire Univest
family, thank you for your support, confidence and investment.
Sincerely,
William S. Aichele
Chairman, President and Chief Executive Officer
January 31, 2007
Growth Highlights | 2006
F o u n d a t i o n t o Suc c e e d
Continuing our Tradition of Steady and Stable Growth
When our company was established in 1876, our founders started a community bank dedicated to serving the public
and contributing to the quality of life in their communities. As we mark 130 years in business, we reflect upon the
foundation of our early years and realize the strength this philosophy still brings to Univest today. The year 2006 was
highlighted by many achievements — record performance, growth initiatives and successes made possible by the
leadership and support of our people. We celebrated the past, commemorated 130 years of making a difference in our
communities and built and strengthened relationships to ensure success for the future.
The prolonged period of flat interest rates and the resulting flat yield curve impacted industry performance
throughout the year. In the last six months of 2006, an inverted yield curve — in which short-term rates actually
exceeded key long-term rates — made financial achievement even more challenging. Competition in our markets
also continued apace, as de novo banks provided consumers with more choices, and acquisitions and growth from
existing banks strengthened many competitors.
Despite increased pressures from competition and a challenging economy for the third consecutive year, Univest
provided strong dividends and grew net profit by 2.1% over the previous record year. Univest remains a well
capitalized institution, and the quality of our assets is strong.
Delivering Integrated Solutions to Build Strong, Vital Communities
The growth of our nontraditional businesses, restructuring of our corporate business and expansion of our network
of financial service centers were some of our 2006 highlights. These accomplishments are especially significant
because they prepare Univest for future success.
In July, we took an important step to strengthen our presence and gain visibility in Chester County when we
acquired B.G. Balmer & Company, a full-service insurance agency located in West Chester, Chester County. The
Balmer agency and Donald K. Martin & Co., our 2005 insurance agency acquisition, increase our brand awareness
and competitively position Univest for future growth in this new market.
The acquisition, coupled with organic growth through the delivery of nontraditional products and services in 2006,
helped to significantly increase our non-interest income and better positioned Univest as a fully integrated financial
solutions provider. The performance of these nontraditional businesses represents one of Univest’s strengths as we
look to continue our long-term profitable growth.
Highlights
9
Vanguard Leasing, Inc., a new business venture
which Univest established in May, will continue to
help us enhance the nontraditional side of the bank.
Specializing in leasing small ticket items such as
commercial and industrial equipment, machine
tools and material handling and medical equipment,
Vanguard delivers solutions to businesses in 50
states. The company operates as an independent,
wholly owned subsidiary of Univest National Bank
and Trust Co., and will significantly contribute to
future revenue and profits.
Changing customer needs and a growing market
area led to a new organizational structure in
Corporate Banking. In September, Univest National
Bank and Trust Co. appointed three market
presidents to deliver strong, responsive, localized
service in our three-county market. By putting local
decision makers in each region and flattening the
corporate structure, Univest has made our top
executives more accessible to customers and
improved internal efficiencies. Our new market
presidents are Kenneth L. Keller in Bucks County,
Ronald S. Price in Chester County and Philip C.
Jackson in Montgomery County.
Also in September, we opened the Vernfield
Financial Service Center in Montgomery County,
providing new opportunities for organic growth.
The 3,100-square-foot, full-service office is located
in a new shopping center with Landis Family
Supermarket and other retail stores.
During the year, we also achieved several
noteworthy financial milestones. Univest
Investments surpassed the $500 million mark in
assets under management. Our Wealth Management
& Trust Group, which has provided trust solutions
for 83 years, reached $1 billion in assets under
management. The respect and credibility our
professionals have earned is underscored by the fact
they are highly sought after for their views on the
economy by local, regional and national press such
as CNBC, Bloomberg TV, BusinessWeek and The
Wall Street Journal.
S o l u t i o n s
“Univest provided strong dividends and grew net profit
by 2.1% over the previous record year.”
Service Excellence | Univest
F i n a n c i a l S o l u t i o n s F o r L i f e
Providing Convenient Solutions For Every Stage of Life
As Univest provides Financial Solutions For Life to communities throughout Bucks, Chester and Montgomery
counties, we seek to acquire new customers through convenient, value-added solutions. Approximately 63 million
Americans bank online, or about 43 percent of Internet users — a 20 percent increase over 2005. Consumers in their
30s and 40s are the most frequent online bankers, though people in their late teens, 20s, 50s and early 60s are not
far behind.
Univest was one of the first community banks in the region to make it possible for customers to open a checking
account and bank online in 2006. Through our newly redesigned website, www.univest.net, Univest launched
competitive solutions and provided a host of financial resources to accommodate this growing online customer base.
The banking market is dynamic, and we are constantly investigating enhancements to remain competitive while
tailoring our solutions to meet the needs of consumers and businesses who use this delivery channel.
In the fourth quarter, we introduced another convenient service for businesses. Onsite CheckPass™ is a new check
depositing product, enabling business customers to easily and securely process checks from the convenience of their
offices. Univest was again one of the leaders in bringing this solution to our marketplace. Onsite CheckPass is a
product to build and strengthen relationships in Bucks, Chester and Montgomery counties.
As our market continues to grow — whether through geographic or electronic expansion — we are intentionally
building on our solid foundation established 130 years ago. Our goal is to build on our record of achievement and
success through planned growth and new directions, to develop long-lasting relationships with customers.
Excellence
11
Making a Difference in Our Communities —
Yesterday, Today and Tomorrow
Although offering new products and services is
important to Univest as we seek to penetrate our
customer base and increase our market share, how
we treat our customers is paramount. Over the last
few years, we have made significant strides in
improving our service to internal and external
customers. Through our Service Excellence
program, we have created positive experiences for
customers. In 2007, we will begin promoting the
Service Excellence program to develop our brand of
outstanding service as a competitive advantage.
Excellent service begins with more than 500
Univest associates. One of the surest signs of a
healthy and profitable commercial enterprise is the
job satisfaction of its employees. In 2006, we were
proud to be named one of the “Best Places to Work
in Pennsylvania.” Achieving this distinction has
been one of our corporate-wide goals, so we are
particularly pleased by this honor.
The employees of Univest live up to our Mission
Statement’s call to “maintain an active role in our
communities” — and did so with pride and
distinction this past year. We shined a light on our
region and its people — and we answered many
calls to help the less fortunate.
B u i l d i n g Re l a t i o n s h i p s
“The employees of Univest live up to our Mission Statement’s call to
‘maintain an active role in our communities’ — and did so with pride
and distinction this past year.”
Community | Highlights
Un i v e s t G r a n d P r i x
The Univest Grand Prix, our signature community event of the year, was an extraordinary success in 2006. For the
first time in the history of the event, the Univest Grand Prix was broadcast on live television. We welcomed our first
field of professional cyclists to compete in the two days of racing in Souderton, Montgomery County and in
Doylestown, Bucks County. The Souderton race incorporated four new municipalities — Hatfield, Towamencin,
Upper Gwynedd and Lansdale, with Lansdale hosting children’s sprints. A first-ever high school race was held in
Souderton, and local businesses and nonprofit organizations were on hand to participate in the popular community
festival. The Sunday race in Doylestown was again held in conjunction with the annual Doylestown Arts Festival,
which attracted thousands of spectators. This year’s race had all the hallmarks of a world-class professional event: top
riders, strong media and spectator appeal and an established television presence in the Philadelphia (Comcast
SportsNet, WFMZ-TV) and national (OLN, The Outdoor Life Network, which is the official broadcaster of the Tour
de France) markets.
While the Univest Grand Prix continued to strengthen our brand in Bucks and Montgomery counties, our 130th
anniversary also significantly raised awareness of Univest’s rich history. We celebrated this milestone throughout the
year and held special events during our anniversary week in June. We sponsored the Univest Gas Sale, designed to
provide some relief from the high cost of gasoline to residents of our Montgomery and Bucks County communities.
The sale attracted long lines of motorists and garnered print and broadcast news coverage, including stories on four
local television stations. The week-long celebration also included a community celebration at our corporate
headquarters in Souderton. Four generations of Univest leaders were on hand to recognize dozens of employees who
had been with Univest for more than 30 years. A highlight during the commemorative ceremony was the donation of
a total of $130,000 to seven local nonprofit organizations. This significant contribution demonstrated Univest’s
ongoing commitment to making a difference in our communities. The corporation’s community mindedness and
philanthropic philosophy were highlighted in a lengthy article in the Philadelphia Inquirer.
Throughout the year, Univest employees demonstrated their commitment to our communities by volunteering their
time to nearly 500 organizations and helping others in need. In May, 15 employees, in cooperation with Mennonite
Disaster Services, traveled south to assist residents of Bayou LaBatre, Alabama, whose town and homes had been
devastated by Hurricane Katrina. Employees will be given another opportunity to volunteer time to the hurricane
relief efforts in April 2007.
On a corporate level, Univest continues to support worthy causes with financial commitments — and, in many cases,
commitments of time — to Partners-in-Education, Central Bucks Chamber of Commerce’s Bucks Fever program,
Indian Valley Arts Foundation’s Concert Sundaes in the Park, Artists in Action and various youth and community
Community
13
orchestras and choirs. In 2006, Univest contributed
more than $1 million to the communities we serve.
Univest's social responsibility continues to benefit
the individuals and nonprofit organizations
throughout our communities, while raising brand
awareness and building relationships throughout
the region.
transactions of the local economy and strives for
community improvement. This is the responsibility
of our people, and their hard work, dedication and
daily efforts in 2006 strengthened our reputation as
a community bank and positioned Univest as a
leader in the markets we serve.
Our Vital Work as a Community
Bank Continues
For Univest, our customers, communities,
employees and shareholders, the question posed
earlier as to whether we are a community bank
is more than a rhetorical exercise. Being a
community bank defines what we are and what
we will always be. It shapes our relationships with
all our audiences. It provides a roadmap for our
success. And, it challenges us to be innovative
in order to remain competitive in a dynamic and
ever-changing marketplace.
As our industry changes and competition continues
to increase, our business philosophy as a
community bank has not wavered in 130 years.
Our customers and communities want and need a
financial institution sensitive to their changing
needs — one that performs the financial
We’ve come a long way from the one-room
operation in 1876. This annual report has
highlighted the many ways Univest and our
employees continue to grow the corporation
through challenging economic times. What sets
Univest apart in a competitive industry is our ability
to keep up with rapid change, while continuing to
honor the deeply held principles that have made us
successful and will guide us toward a bright future.
As we mark our 130th year of business success, the
employees of Univest wish to thank you, the
shareholders of our institution, for your continued
support. Our vision is based on a corporate purpose
that ensures a long and profitable future for Univest
Corporation of Pennsylvania. We will keep you
informed as our vision for the future translates into
action, and we look forward to joining you in the
continuing, vital work of a community bank.
1 3 0 t h An n i v e r s a r y
“As our industry changes and competition continues to increase,
our business philosophy as a community bank has not wavered
in 130 years.”
Officers | Univest
S t r o n g L e a d e r s h i p
Univest Corporation of Pennsylvania
Univest National Bank and Trust Co.
Executive Management Group
Executive Management Group
William S. Aichele, Chairman, President &
William S. Aichele, Chairman and Chief Executive Officer
Chief Executive Officer
Wallace H. Bieler, Senior Executive Vice President,
Chief Operation Officer, Chief Financial Officer
and Corporate Secretary
K. Leon Moyer, Senior Executive Vice President
Duane J. Brobst, Executive Vice President, Chief Credit Officer
Kenneth D. Hochstetler, Executive Vice President
Diane L. Koehler, Executive Vice President, Chief Risk Officer
K. Leon Moyer, President and Chief Operating Officer
Wallace H. Bieler, Senior Executive Vice President,
Chief Financial Officer and Corporate Secretary
Philip C. Jackson, Market President, Montgomery County
Kenneth L. Keller, Market President, Bucks County
Ronald S. Price, Market President, Chester County
Richard M. O'Donnell, Executive Vice President
Duane J. Brobst, Executive Vice President, Chief Credit Officer
Barry L. Stoltzfus, Executive Vice President
Richard M. O'Donnell, Executive Vice President
Richard R. Swartley, Executive Vice President
Barry L. Stoltzfus, Executive Vice President
Univest Investments, Inc.
William S. Aichele, Chairman
Kenneth D. Hochstetler, President
Wallace H. Bieler, Secretary, Treasurer
Univest Insurance, Inc.
William S. Aichele, Chairman
Kenneth D. Hochstetler, President
Wallace H. Bieler, Secretary, Treasurer
Richard R. Swartley, Executive Vice President
Vanguard Leasing, Inc. (Subsidiary of
Univest National Bank and Trust Co.)
Hugh W. Connelly, President
Wallace H. Bieler, Secretary, Treasurer
Delview, Inc. (Subsidiary of Univest
National Bank and Trust Co.)
Other Principal Subsidiaries of Univest
Corporation of Pennsylvania
Univest Delaware, Inc.
Univest Realty Corporation
Univest Reinsurance Corporation
Board of Directors
15
William S. Aichele *†
Chairman, President & Chief Executive Officer, Univest Corporation
of Pennsylvania; and Chairman, and Chief Executive Officer,
Univest National Bank and Trust Co.
William G. Morral, CPAo
Financial Consultant; former CFO
Moyer Packing Company
Marvin A. Anders *†
Retired Chairman, Univest Corporation of Pennsylvania; and
Retired Chairman, Univest National Bank and Trust Co.
K. Leon Moyer †
President and Chief Operating Officer
Univest National Bank and Trust Co.
James L. Bergey *†
President & Sales Manager
Abram W. Bergey & Sons, Inc.
R. Lee Delp *
Principal
R.L. Delp & Company
Charles H. Hoeflich *†
Chairman Emeritus,
Univest Corporation of Pennsylvania
Norman L. Keller *
Retired Executive Vice President
Univest Corporation of Pennsylvania
D i r e c t o r s
Thomas K. Leidy *†
Retired President & CEO
Leidy's, Inc.
Merrill S. Moyer *†
Retired Chairman, Univest Corporation of Pennsylvania; and
Retired Chairman, Univest National Bank and Trust Co.
Mark A. Schlosser o
President
Schlosser Steel, Inc.
Paul Gregory Shelly *†
President
Shelly Enterprises, Inc.
John U. Young *
Consultant & Director
Alderfer Bologna Co., Inc.
Margaret K. Zook o
Executive Director
Souderton Mennonite Homes
H. Ray Mininger *
President
H. Mininger & Son, Inc.
* Director of Univest Corporation of Pennsylvania
† Director of Univest National Bank and Trust Co.
o Alternate Director of Univest Corporation of Pennsylvania
Our Locations | Univest
F i n a n c i a l S e r v i c e C e n t e r s
Montgomery County Locations
Blue Bell
610.279.3901
694 DeKalb Pike
Blue Bell, PA 19422
Lansdale Area
215.362.8835
Rt. 63 & Forty Foot Road
Lansdale, PA 19446
Royersford
484.931.2600
328 North Lewis Road
Royersford, PA 19468
Telford
215.723.4515
50 Penn Avenue
Telford, PA 18969
East Greenville
215.679.7928
321 Main Street
East Greenville, PA 18041
Franconia
215.721.0707
Rt. 113 & Allentown Road
Franconia, PA 18924
Green Lane
215.234.4511
101 Walnut Street
P.O. Box 69
Green Lane, PA 18054
Kulpsville
215.368.1666
1715 Sumneytown Pike
P.O. Box 226
Kulpsville, PA 19443
Bucks County Locations
Bensalem
215.244.9200
3325 Street Road
Suite 110
Bensalem, PA 19020
Buckingham
215.794.5916
Hunt Acres Center
5006 York Road
P.O. Box 511
Holicong, PA 18928
Lansdale East
215.412.9750
Super Fresh
Hillcrest Shopping Center
620 East Main Street
Lansdale, PA 19446
Line Lexington
215.822.3314
Rt. 309 & Line Lexington
Road
P.O. Box 7
Line Lexington, PA 18932
Montgomery
215.699.3525
Rt. 309 & Stump Road
Montgomeryville, PA 18936
Schwenksville
610.287.7811
415 Main Street
P.O. Box 8
Schwenksville, PA 19473
Telford Supermarket
215.721.0973
Landis Market
2685 County Line Road
Telford, PA 18969
Skippack
610.222.3923
Township Line Road &
Bridge Street (Rt. 113)
Skippack, PA 19474
Souderton
215.721.2464
10 West Broad Street
P.O. Box 64197
Souderton, PA 18964
Trappe
610.454.0883
595 West Main Street
Trappe, PA 19426
Vernfield
215.256.9413
Shelly Square
Shopping Center
Rt. 63 & Shelly Road
Harleysville, PA 19438
Chalfont
215.996.1633
195 Butler Avenue
Chalfont, PA 18914
Cross Keys
215.348.8620
842 North Easton Road
Doylestown, PA 18901
Doylestown
215.348.7966
191 West State Street
Doylestown, PA 18901
Feasterville
215.354.0330
40 East Street Road
Feasterville, PA 19053
Hilltown
215.721.2471
Routes 113 & 309
Souderton, PA 18964
Hilltown
Supermarket
215.721.9863
Super Fresh
County Line Plaza
Rt. 113 & County Line Road
Souderton, PA 18964
Financial Service Centers in Bucks and Montgomery Counties
17
Vernfield
Milford
215.536.4204
1950 John Fries Highway
P.O. Box 170
Milford Square, PA 18935
Newtown
215.504.2828
3 Friends Lane
Newtown, PA 18940
Perkasie
215.257.6607
545 Constitution Avenue
Perkasie, PA 18944
Plumsteadville
215.766.3701
5829 Easton Road
P.O. Box 446
Plumsteadville, PA 18949
Quakertown
215.538.3407
GIANT Food Stores
1465-7 West Broad Street
Quakertown, PA 18951
L oc a t i o n s
Sellersville
215.257.8060
835 Lawn Avenue
Sellersville, PA 18960
Solebury
215.862.3750
Logan Square Shopping Center
6542D York Road
New Hope, PA 18938
Silverdale
215.257.9600
103 Baringer Avenue
P.O. Box 207
Silverdale, PA 18962
Warminster
215.956.1611
601 Louis Drive
Warminster, PA 18974
Univest National Bank and Trust Co. offers 12 retirement community financial service centers throughout Bucks and Montgomery counties. For a complete listing of our retirement
community offices, please visit www.univest.net.
Shareholder | Information
S h a r e h o l d e r I n f o r m a t i o n
Corporate Headquarters
Univest Plaza
14 North Main Street
P.O. Box 64197
Souderton, Pennsylvania 18964
Univest Insurance Locations
Univest Insurance, Inc. — Lansdale Office
521 Main Street
PO Box 391
Lansdale, Pennsylvania 19446
Univest Insurance — Chester County Divisions
B.G. Balmer & Company
Donald K. Martin & Co., Inc.
Glenloch Corporate Campus
1473 Dunwoody Drive
West Chester, Pennsylvania 19380-1478
Univest Investments Headquarters
Univest Plaza
14 North Main Street
P.O. Box 64197
Souderton, Pennsylvania 18964
Univest Stock Transfer Agent
For more information on Univest Corporation of
Pennsylvania common stock, please call StockTrans, Inc.,
at 610.649.7300 or contact them at 44 West Lancaster
Avenue, Ardmore, PA 19003. You may also click on our
investor relations link at www.univest.net.
Univest Shareholder Information Hotline
For more information on Univest Corporation of
Pennsylvania, please call 800.660.4276 or 215.721.2434.
Market Makers for Univest Corporation of
Pennsylvania Common Stock
Boenning & Scattergood, Inc.
Citigroup Global Markets, Inc.
Ferris, Baker Watts, Inc.
Goldman, Sachs & Company
Hill, Thompson, Magid & Co.
Knight Equity Markets, L.P.
Lehman Brothers, Inc.
Sandler O'Neill & Partners
Susquehanna Financial Group, LLP
Shareholders' Meeting
UBS Securities, LLC
The Annual Shareholders' Meeting will take place
at 10:45 a.m., Tuesday, April 10, 2007, in the Board
Room at Univest Plaza, 14 North Main Street,
Souderton, Pennsylvania.
Our Mission
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.
Core Values
Tradition | Integrity | Excellence | Community | Spirituality
Fortum scept cuemesto volupate lentranse nexor anelisti quillosti xelivi
sequat est ad maxim il citius qui nodstrum zu elipse scept.
O u r M i s s i o n
Annual Report
2006
Univest Plaza | 14 North Main Street | P.O. Box 64197 | Souderton, PA 18964
1.800.660.4276 | www.univest.net