2 0 1 0 A N N U A L R E P O R T 1 8 7 6 1 9 2 9 2 0 1 0 I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT W E B E L I E V E I N O U R I N D E P E N D E N C E 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 TA B L E O F C O N T E N T S role in our communities; and build loyal relationships with our Financial Performance . . . . . . . . . . . . . . .1 customers and employees so that a fair profit is provided for both the corporation and our shareholders. M I S S I O N S T A T E M E N T Letter to Shareholders . . . . . . . . . . . . .2-3 2010 Highlights . . . . . . . . . . . . . . . . . . .4-9 W E B E L I E V E I N O U R S TA B I L I T Y Officers and Board of Directors . . .10-11 Tradition • Integrity • Excellence • Community • Spirituality Shareholder Information . . . . . . . . . . . .12 C O R E V A L U E S W E B E L I E V E I N O U R V I S I O N “To be the best integrated financial solutions provider in the market.” V I S I O N S T A T E M E N T 2 0 1 0 F I N A N C I A L P E R F O R M A N C E At December 31, (in Thousands) 2010 2009 Cash, interest-earning deposits and federal funds sold.........................................................$ 29,187 Investment securities............................................................................................................................ 467,024 Net loans and leases.............................................................................................................................. 1,440,288 197,394 Other assets .............................................................................................................................................. Total assets...................................................................................................................... $ 2,133,893 Deposits .....................................................................................................................................................$ 1,686,270 143,865 Borrowings................................................................................................................................................ 37,534 Other liabilities........................................................................................................................................ 1,867,669 Liabilities ................................................................................................................................................... Shareholders’ equity.............................................................................................................................. 266,224 Total liabilities and shareholders’ equity....................................................................$ 2,133,893 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............................................................................................................. 2010 91,003 17,469 73,534 21,565 51,969 34,418 67,349 19,038 3,282 15,756 15.99 0.95 0.95 0.80 $ 68,597 420,045 1,401,182 195,597 $ 2,085,421 $ 1,564,257 214,063 39,294 1,817,614 267,807 $ 2,085,421 $ $ $ 2009 96,359 28,723 67,636 20,886 46,750 29,917 65,324 11,343 563 10,780 16.27 0.75 0.75 0.80 $ $ $ 2008 108,057 42,310 65,747 8,769 56,978 26,615 57,225 26,368 5,778 20,590 15.71 1.60 1.60 0.80 Weighted average shares outstanding.......................................................................................... 16,598,284 Period end shares outstanding......................................................................................................... 16,648,303 14,347,104 16,465,083 12,872,899 12,938,514 6 8 6 , 1 4 6 5 , 1 3 3 5 , 1 7 2 5 , 1 0 4 3 , 1 2 4 3 , 1 6 3 2 , 1 9 8 4 , 1 7 6 3 , 1 7 3 4 , 1 1 0 4 , 1 0 4 4 , 1 8 7 . 2 7 . 0 8 . 0 8 . 0 8 . 0 8 . 2 5 9 , 7 0 1 3 5 5 , 7 9 2 6 3 , 2 9 5 8 2 , 9 8 2 3 9 , 6 8 2 8 6 , 1 8 ‘06 ‘07 ‘05 ‘08 Total Deposits (IN MILLIONS) ‘09 ‘10 ‘07 ‘06 ‘10 ‘05 Net Loans and Leases (IN MILLIONS) ‘08 ‘09 1 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 Dividends Declared (PER SHARE) ‘06 ‘07 ‘05 ‘08 Total Revenue (IN THOUSANDS) ‘09 ‘10 1 TO OUR FAMILY OF EMPLOYEES, CUSTOMERS AND SHAREHOLDERS W “ A s l o c a l c o m p e t i t o r s w e r e b o u g h t a n d s o l d a n d o t h e r s m a d e h e a d l i n e s f o r f i n a n c i a l s t r u g g l e s , w e e x p e r i e n c e d a f l i g h t t o q u a l i t y a n d i n t e r e s t i n c h o o s i n g U n i v e s t , a w e l l - r e s p e c t e d l o c a l p a r t n e r. ” e often speak of the Univest family and our unique of our integrated strategy help reduce our reliance on net culture which differentiates us from our competition. interest income, but it enables customers – who trust us – to Like most families, this past year we celebrated achievements and overcame challenges. We worked hard to offer the best integrated financial solutions to meet the expand their relationship with Univest. As local competitors were bought and sold and others made needs of our employees, customers, shareholders and headlines for financial struggles, we experienced a flight to communities. With our mission, core values and vision guiding our quality and interest in choosing Univest, a well-respected local focused and disciplined business approach, we achieved another partner. We were poised to respond to the market disruption as a year of stable growth for the Corporation. result of investing in the Univest brand and new, experienced employees. Our success was proven by our ability to grow in our Univest’s performance was favorable compared to our peers and newer markets and newer lines of business. We continued to the industry overall. We welcomed many new customers eager providing credit to qualified borrowers and increased our gross to find a financial partner offering stability and confidence in the loans and leases by $45.2 million. We also recorded significant future. For the year ended December 31, 2010, Univest reported growth of $122 million in deposits year over year. net income of $15.8 million compared to $10.8 million for 2009. Univest shared this success with our shareholders through Our respectable growth this past year was accomplished while consistent quarterly dividends. also supporting our local communities. We pride ourselves on being actively involved in the communities we serve and uphold Our achievements speak to the daily contributions made by our reputation of being a good corporate citizen through our employees who once again voted Univest a Best Place to financial contributions and volunteer efforts. Employees were Work in Pennsylvania. Our results also reflect our heightened engaged in various service initiatives to make a difference and focus on providing integrated financial solutions. We realize, personally made record-setting contributions to our annual especially during challenging economic times, the value our United Way Campaign. As a Corporation, we supported our diverse mix of financial solutions brings to our business and employees’ efforts while also making it possible for many our customers. Not only does the successful implementation nonprofit organizations to meet growing client demands. 2 “ U n i v e s t h a s a l w a y s l o o k e d a h e a d w i t h o p t i m i s m b e c a u s e n o m a t t e r w h a t e c o n o m i c , r e g u l a t o r y a n d b u s i n e s s c o n d i t i o n s w e h a v e f a c e d o v e r t h e p a s t 1 3 4 y e a r s , w e h a v e s h o w n o u r r e s i l i e n c e . We ’ r e p r o u d o f o u r a c c o m p l i s h m e n t s a n d a b i l i t y t o o v e r c o m e t h e c h a l l e n g e s f a c i n g o u r n a t i o n , o u r i n d u s t r y a n d o u r c o m m u n i t i e s . ” The ongoing challenges in the economy coupled with rising Univest has always looked ahead with optimism because no bank failures – 157 in 2010 – encouraged the federal matter what economic, regulatory and business conditions we government to continue its increased oversight. While many have faced over the past 134 years, we have shown our resilience. were surprised to see this occur in 2009 when the federal We’re proud of our accomplishments and ability to overcome the government intervened by offering bailout support to many challenges facing our nation, our industry and our communities. institutions, the industry certainly did not anticipate the We know Univest is operating from a position of strength and extreme steps our government took in 2010 to rebuild the therefore believe our future is bright. On behalf of the entire economy and industry through regulatory changes. These Univest family, we want to thank you for your continued support changes, while not completely outlined, will undoubtedly and investment. transform the banking industry and redefine expectations for earnings performance. We believe stable companies like Univest Sincerely, Corporation – which has remained independent – and has a history of operating with prudent business practices, solid capital and a disciplined focus on short-term and long-term William S. Aichele strategies will succeed and emerge as leaders. Chairman, President and Chief Executive Officer Two of our great leaders Thomas K. Leidy and John U. Young January 31, 2011 retired from the Board of Directors in 2010 after 26 years and 21 years of service, respectively. Their loyalty and strategic contributions helped Univest grow and evolve into a strong, stable organization. I want to take this opportunity to recognize and thank them for their dedicated service to Univest and our community. I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT 3 I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT 22 00 11 00 HH II GG HH LL II GG HH TT SS :: CC oo nn tt ii nn uu ii nn gg TT r a d i t i o n s a n d I n v e s t i n g i n o u r F u t u r e The financial services industry experienced another challenging year W e carried out our tradition of delivering steady and stable growth for our shareholders and the Corporation, which once again showed in 2010 marked by the prolonged tough economic environment and a our ability to lead during challenging new era of regulatory reform. Many uncertainties remain as the economic crisis – which according to economists began in 2008 – slowly shows signs of recovery. While many banks concentrated on rebuilding their business and regaining their independence, Univest Corporation approached 2010 with confidence in a focused and disciplined business model which has served us well since 1876. Our sustainable approach enabled us to operate from a position of strength, maintaining our independence, demonstrating our stability and executing our organizational vision. We believe the road to recovery will be slow, but are confident it will also provide new opportunities to fuel our short-term and long-term strategies for the benefit of our employees, customers, shareholders and communities. As we reflect on our 2010 performance and highlights, we realize the value of our prudent philosophy and believe a bright future lies ahead. 4 times. This was validated by favorable performance in comparison to our peer group and across the industry. We were able to do this while sharing our success with our shareholders through consistent quarterly dividends, our employees through fair salaries and benefits, our customers through new convenient solutions and our communities through financial and volunteer support. In 2010, we built upon the momentum created in 2009 by investing once again in the Univest brand to raise awareness and position ourselves to seize market share. As the market experienced intense disruption, we positioned Univest as the strong, stable and local choice. The “Believe in the Power of Local” messaging was executed through a variety of campaigns including outdoor, radio, online, event-based and print advertising. Our brand efforts attracted new customers and built loyalty with existing customers. 2 0 1 0 H I G H L I G H T S : C o n t i n u i n gg TT rr aa dd ii tt ii oo nn ss aa nn dd II nn vv ee ss tt ii nn gg ii nn oo uu rr FF uu tt uu rr ee 2 0 1 0 ANNUAL REPORT The strength of our business coupled Second to a solid capital position, on our consumer segment. In May, Louis with our solid capital position allowed consumer deposits became the lifeblood P. Spinelli was appointed executive vice Univest to operate from an offensive for the banking industry during the president and director of consumer position. We sought opportunities to prolonged economic downturn. Univest’s strategy and delivery. Mr. Spinelli assumed welcome new customers while also significant growth in local deposits led to responsibility for our 32 financial service devoting ourselves to strengthening increases in Univest’s market share and centers and 12 retirement community customer experiences. In 2010, many also fueled opportunities to reposition the centers, e-commerce and the Univest customers needed us to listen. Listen balance sheet. As of December 31, we Service Center. We believe these changes to their business hardships, new replaced all but $5 million of our speak to our commitment to strengthen visions or uncertainties about maturing Federal Home Loan Bank (FHLB) the focus on the consumer business while personally investing and re-entering borrowings with core deposits, actively seeking ways to connect the markets. And in each case, we contributing to improvements in our net customers with other Univest experts were there for them as a trusted interest income and net interest margin. and financial solutions across our partner. This speaks to our long-term integrated platform. strategy to provide consultative and With heightened disruption in the differentiated service to our customers marketplace, increasing deposits and a During the year, we opened two new through good and difficult times – an new regulatory environment approaching, office locations in core markets by approach which we believe is the key it became apparent it was time to invest repositioning to higher traffic sites for to a bright future. in an experienced leader to focus solely improved accessibility and visibility. As we celebrated the grand opening of the first LEED Certified financial service center in Hilltown, Bucks County, we reflected on Univest’s core values. These core values are prominently displayed in each of our newer offices. 5 I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT Our Hilltown Financial Service Center, the suite of financial solutions with new we are confident the foundation and the first LEED Certified facility for Univest and features and mobile functionality. behaviors around integration are in place. for Hilltown Township, celebrated its Univest’s capabilities now include Customers are experiencing the Grand Opening on April 9. We also providing customers with the convenience convenience and benefits of the full suite celebrated the Grand Opening of our of opening accounts, applying for loans, of integrated financial services. At the Lansdale Area Financial Service Center on transacting business and staying on top of same time, employees are well-versed in October 1. This new office conveniently their bank accounts from their home, talking about our capabilities and are services the communities of Hatfield, office or on their mobile phone. increasing referrals to non-traditional Lansdale and Towamencin townships in Customers can also utilize value-added lines of business. While this is still an area Montgomery County. Following the services including daily e-mail alerts and ripe with opportunity, we believe Univest opening of this environmentally-friendly person-to-person funds transfers. We and our employees are poised to increase facility, Univest received the Hatfield believe innovation in technology helps to our integration achievements in the Township Green Award in January, 2011. level the competitive field with larger coming years. As we continue to progress We were pleased to provide these new banks and offers an advantage over towards our Vision – to be the best facilities to enhance employee and community banks. integrated financial solutions provider in customer experiences and demonstrate the market – Univest will gain greater our long-term commitment to these INTEGRATION: Steady Progress and financial stability for the Corporation. communities. Long-Term Stability In addition to repositioned financial various efforts to integrate new particular with solid growth and service centers, we bolstered our online companies and employees into Univest, performance in part due to increased After ten years of development and Univest Investments, Inc. was one area in Executive management, Township representatives, local leaders and elected officials came together for the ribbon-cutting ceremony at the Lansdale Area Financial Service Center, serving the communities of Hatfield, Lansdale and Towamencin. 6 2 0 1 0 ANNUAL REPORT referral activity and strong sales support teams. In 2010, our support conversion results. The low interest rate departments contributed to our overall environment coupled with a rebound in success in many new ways. In addition to the stock market fueled customer inquiries carrying out their day-to-day with our consumer banking team, who responsibilities, many more were fully- encouraged them to meet with our engaged in our integration efforts to “In addition to repositioned financial advisors to learn more about our generate new business referrals. Building financial service centers, we capabilities. A renewed interest to invest in upon the integration successes of 2010 the stock market led to our investments will strengthen our ability even more to bolstered our online suite of area achieving a record $750 million in navigate these challenging times. financial solutions with new brokerage assets under supervision as of December 31, 2010. THE DAWN OF A NEW ERA: features and mobile functionality. Regulatory Reform Univest’s capabilities now Another area reaching a significant As Americans began to see signs of a slow milestone was our mortgage banking economic turnaround, the Federal department – achieving over $200 million government announced a new wave of in mortgage originations during the year. regulations for the financial industry. This accomplishment was due to the Financial Reform was signed into law on success of our expanding team of July 21, shortly after Healthcare Reform experienced mortgage representatives and was made law on March 24. While many include providing customers with the convenience of opening accounts, applying for loans, transacting business and staying our diverse suite of mortgage solutions. unknowns still surround both pieces of on top of their bank accounts This rapid growth would not have been legislation, it is clear significant change possible without the support the mortgage lies ahead for financial institutions and from their home, office or on team received from the operations center. the customers we serve. their mobile phone.” In 2010, support employees in this area increased productivity levels while also At Univest, we took proactive measures to managing an upgrade to our back-end prepare for the new era in regulatory systems to ensure we continue to operate reform. We established an enterprise-wide with optimal efficiencies. risk management team focused on identifying organizational risks including The growth in our integrated platform has liquidity, operational and reputational. It is not happened overnight, and as we our goal to better align our risk taking and continue growing in our market area and likely earnings volatility to investor capabilities, we need to acknowledge the expectations while complying with these additional work this creates for our new requirements. 7 I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT The economic climate and changes in by believing in them; providing a stable and the quality experience we strive regulatory requirements posed challenges and safe work environment; compensating for with all employees in the for Univest and our industry. On August fairly; and encouraging and fostering organization. In addition to the best 15, 2010, amendments to the Electronic career growth. Funds Transfer Act (Regulation E) places to work honor, the Philadelphia Business Journal recognized Univest as requiring customers to opt-in for Our investment in our employees and one of the healthiest places to work overdraft protection on debit card and the culture we create together is and one of the top philanthropic point of sale transactions were something special. As we’ve grown and companies locally. implemented. These amendments attracted new talent, we have worked contributed to a decline in service charges hard to sustain our culture by training Being a socially responsible company on deposit accounts. employees at every level across the and giving back to the communities we organization to enhance their ability to serve remains a core value for Univest. Many additional regulatory changes lie succeed, carry out our mission and core In 2010, amidst this challenging ahead for the financial industry with the values and focus their efforts on economic environment, we clearly Dodd-Frank Wall Street Reform and achieving our vision. Our success in demonstrated this value through our Consumer Act and Basel III to name a few. 2010 was a result of our combined financial support of more than 340 While the new requirements are not efforts and our disciplined approach to nonprofit organizations. Additionally, known, we believe you’ll find comfort in managing the business with a balanced our employees served in hundreds of knowing Univest is actively working on focus on the needs of our employees, volunteer positions with local ways to minimize the impact for our customers, shareholders and organizations, totaling more than employees, customers, shareholders and communities. communities. 11,000 hours. Univest’s employees also showed their strong support of our In these challenging economic times, it communities and the well-being of our LOYAL EMPLOYEES: Leadership is encouraging to have a talented, neighbors through our annual United and Service at Work and In motivated and engaged workforce Way campaign. Our employees the Community Univest’s employees are the Corporation’s most important supporting our business approach. contributed record-setting financial Attracting top talent across the support of more than $100,000. industry has been made easier with our ambassadors – the faces our customers consistent recognition as a best place In addition to volunteering time and and communities come to know and to work. For the fifth consecutive year, supporting our communities trust and the hands doing the Corporation’s work. Day in and day out, our employees make Univest’s Univest earned a spot on the Best financially, we continued our tradition Places to Work in Pennsylvania list – of bringing the excitement of ranking among the state’s 20 best large international bike racing to the region. belief in our communities come to life. companies. This achievement is a The Univest Grand Prix unveiled a Univest nourishes employee experiences reflection of our culture of excellence dynamic, new race course in 8 2 0 1 0 ANNUAL REPORT Souderton. Though the Univest Grand LOOKING AHEAD Prix has become the most prestigious While we know Univest and the industry UCI Pro/Am road race in the United will face unprecedented times with the States, Univest never lost sight of the challenging economic climate and ever- event’s role in helping to build our changing regulatory environment, we communities. The two-day event remain confident. Our focused and “Our success in 2010 was a continued on Sunday with the 7th prudent approach to business has been at result of our combined efforts annual running of the Univest Grand the core of Univest’s success for 134 years Prix Doylestown Criterium. – and will continue to be in the future. and our disciplined approach to We are well-capitalized and, in turn, well- managing the business with a Our cycling enthusiasm grew this year positioned to remain independent and into new markets as we partnered for the control our own destiny. We believe first time with the Valley Preferred Cycling Univest has a bright future – providing Center in Allentown. With this being the for you, our valued shareholders, an newest service area for Univest, our investment you can rely on and a partnership elevated recognition of our company of which you can be proud. brand awareness throughout the Lehigh Valley. In Chester County, Univest The employees of Univest thank continued its support of the annual Iron you for your ongoing support Hill Twilight Criterium reinforcing our and loyalty. presence in this newer market. balanced focus on the needs of our employees, customers, shareholders and communities.” Employees carry out Univest's Community Core Value in many ways. In September, we supported the United Way’s “Days of Caring" with 40 employees helping area nonprofits. Employees partnered with the American Bankers Association during Teach Children to Save Day. Over 300 students in Bucks and Montgomery counties were taught the importance of being financially responsible. 9 I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT U N I V E S T C O R P O R AT I O N O F P E N N S Y LVA N I A U N I V E S T N AT I O N A L B A N K A N D T R U S T C O . EXECUTIVE MANAGEMENT TEAM EXECUTIVE MANAGEMENT TEAM William S. Aichele, Chairman, President and Chief Executive Officer K. Leon Moyer, Vice Chairman Jeffrey M. Schweitzer, Senior Executive Vice President and Chief Financial Officer Kenneth D. Hochstetler, Senior Executive Vice President Duane J. Brobst, Executive Vice President and Chief Risk Officer Louis P. Spinelli, Executive Vice President and Director of Consumer Strategy and Delivery Annette D. Szygiel, Executive Vice President and Chief Experience Officer OTHER WHOLLY-OWNED SUBSIDIARIES Allied Benefits Group, LLC Delview, Inc. TCG Investment Advisory, Inc. Univest Capital Trust I Univest Delaware, Inc. Univest Reinsurance Corporation William S. Aichele, Chairman K. Leon Moyer, President and Chief Executive Officer Jeffrey M. Schweitzer, Senior Executive Vice President and Chief Financial Officer Kenneth D. Hochstetler, Senior Executive Vice President Duane J. Brobst, Executive Vice President and Chief Risk Officer Philip C. Jackson, Market President, Montgomery County and Lehigh Valley Kenneth L. Keller, Market President, Bucks County Louis P. Spinelli, Executive Vice President and Director of Consumer Strategy and Delivery UNIVEST INVESTMENTS, INC. William S. Aichele, Chairman Kenneth D. Hochstetler, President Jeffrey M. Schweitzer, Secretary/Treasurer UNIVEST INSURANCE, INC. William S. Aichele, Chairman Kenneth D. Hochstetler, President Jeffrey M. Schweitzer, Secretary/Treasurer UNIVEST CAPITAL, INC. (SUBSIDIARY OF UNIVEST NATIONAL BANK AND TRUST CO.) Hugh W. Connelly, President Jeffrey M. Schweitzer, Secretary/Treasurer P l e a s e v i s i t u n i v e s t . n e t f o r a c o m p l e t e l i s t o f l o c a t i o n s f o r U n i v e s t C o r p o r a t i o n a n d o u r s u b s i d i a r i e s . 10 2 0 1 0 ANNUAL REPORT K. Leon Moyer †° Vice Chairman, Univest Corporation of Pennsylvania; and President and Chief Executive Officer Univest National Bank and Trust Co. Mark A. Schlosser * Secretary and Treasurer, Schlosser Steel, Inc. Paul Gregory Shelly *† President, Shelly Enterprises, Inc. Margaret K. Zook ° MK Consulting and Coaching Retired Executive Director, Souderton Mennonite Homes * Director of Univest Corporation of Pennsylvania † Director of Univest National Bank and Trust Co. o Alternate Director of Univest Corporation of Pennsylvania U N I V E S T C O R P O R AT I O N O F P E N N S Y LVA N I A BOARD OF DIRECTORS William S. Aichele *† Chairman, President and Chief Executive Officer, Univest Corporation of Pennsylvania; and Chairman, Univest National Bank and Trust Co. Marvin A. Anders *† Retired Chairman, Univest Corporation of Pennsylvania; and Retired Chairman, Univest National Bank and Trust Co. Douglas C. Clemens ° President, Clemens Food Group R. Lee Delp * Principal, R.L. Delp Company Charles H. Hoeflich *† Chairman Emeritus, Univest Corporation of Pennsylvania H. Paul Lewis * Vice President/Sales Agent, Bucks County Commercial Realty, Inc. Retired Executive Vice President, Univest National Bank and Trust Co. H. Ray Mininger * Vice President and Secretary, H. Mininger and Son, Inc. William G. Morral, CPA * Accounting and Financial Consultant, Former CFO, Moyer Packing Company The 13th annual Univest Grand Prix was a day of celebration in our local communities. Spectators, sponsors and customers came together to enjoy the festivities and cheer on the professional riders in both Souderton and Doylestown. 11 SHAREHOLDER INFORMATION Shareholders' Meeting The Annual Shareholders' Meeting will take place at 10:45 a.m., Tuesday, April 19, 2011, in the Board Room at Univest Plaza, 14 North Main Street, Souderton, Pennsylvania 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 877.723.5571 or 215.721.2434 Common Stock Information Traded on the NASDAQ Global Select Market, Symbol: UVSP Market Makers for Univest Corporation of Pennsylvania Common Stock Boenning & Scattergood, Inc. Goldman, Sachs & Co. Janney Montgomery Scott LLC Keefe Bruyette & Woods, Inc. Morgan Stanley & Co., Inc. UBS Securities LLC 12 Rated #16 by our Employees Most Charitable Givers #3 Philanthropic Donor #3 In-Kind-Donor Rated #3 Gold Category 4-Star Rating, 1st and 2nd Quarters 5-Star Rating, 3rd and 4th Quarters “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 like eagles; they will run and not grow weary, they will walk and not faint.” – Isaiah 40:29, 31 2 0 1 0 A N N U A L R E P O R T I N D E P E N D E N C E . S T A B I L I T Y. V I S I O N . WE BELIEVE OUR FUTURE IS BRIGHT Univest Plaza • 14 North Main Street • P.O. Box 64197 • Souderton, PA 18964 877.723.5571 • www.univest.net