Ready for a Bright Future
Shareholder Information
Across our industry, technology and regulatory demands continue to drive rapid
change. At Univest, we remain laser focused on moving the performance needle
and ensuring that we exceed customer expectations for the solutions, service,
and security we deliver.
Shareholders’ Meeting
The Annual Shareholders’ Meeting will take place at 10:45 a.m. on Tuesday, April 19, 2016 at Indian Valley
Country Club, located at 650 Bergey Road, Telford, PA 18969.
Univest Stock Transfer Agent
For more information on Univest Corporation of Pennsylvania common stock, please contact Broadridge
As we close the chapter on one year and look ahead to 2016, we have never been
Corporate Issuer Solutions or visit the investor relations section at www.univest.net.
more cognizant of what sets us apart – our people, diversified financial solutions,
commitment to service excellence and our ability to keep up with rapid change
to remain relevant and competitive.
The year ahead marks our 140th year in business. While focusing on building
the franchise, the legacy of Univest and achieving our vision, we will remain
guided by our mission and core values that have helped provide for a strong
foundation to successfully serve our four publics – employees, shareholders,
customers and communities.
We are confident in our abilities and strategic direction, and grateful for the
support of you, our loyal shareholders.
Vision Statement
To be the best integrated
financial solutions provider
in the market.
Regular Mail Communications:
Overnight Mail Communications:
Broadridge Corporate Issuer Solutions, Inc.
Broadridge Corporate Issuer Solutions, Inc.
PO Box 1342
Brentwood, NY 11717
Phone Number: 866-321-8021
Email Address: shareholder@broadridge.com
Website: https://investor.broadridge.com
ATTN: IWS
1155 Long Island Avenue
Edgewood, NY 11717
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 National Market, Symbol: UVSP.
Market Makers For Univest Corporation of Pennsylvania Common Stock
Boenning & Scattergood, Inc.
Goldman Sachs & Co.
Griffin Financial Group LLC
Janney Montgomery Scott LLC
Keefe Bruyette & Woods, Inc.
Morgan Stanley & Co., Inc.
UBS Securities LLC
“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 be faint.”
- Isaiah 40:29, 31
Our Franchise
139 YEARS OF
BUSINESS
SUCCESS
7 LOCAL PA
COUNTIES
SERVED
2015
ANNUAL REPORT
717 EMPLOYEES
MAKING IT
HAPPEN
17,647 EMPLOYEE
VOLUNTEER
HOURS
29 FINANCIAL
CENTERS
7 COMMERCIAL
& CORPORATE
OFFICES
3 INVESTMENT
OFFICES
5 INSURANCE
OFFICES
48,884 CONSUMER
HOUSEHOLDS 10,006 BUSINESS
CUSTOMERS
Ready for a Bright Future
Shareholder Information
Across our industry, technology and regulatory demands continue to drive rapid
change. At Univest, we remain laser focused on moving the performance needle
and ensuring that we exceed customer expectations for the solutions, service,
and security we deliver.
Shareholders’ Meeting
The Annual Shareholders’ Meeting will take place at 10:45 a.m. on Tuesday, April 19, 2016 at Indian Valley
Country Club, located at 650 Bergey Road, Telford, PA 18969.
Univest Stock Transfer Agent
For more information on Univest Corporation of Pennsylvania common stock, please contact Broadridge
As we close the chapter on one year and look ahead to 2016, we have never been
Corporate Issuer Solutions or visit the investor relations section at www.univest.net.
more cognizant of what sets us apart – our people, diversified financial solutions,
commitment to service excellence and our ability to keep up with rapid change
to remain relevant and competitive.
The year ahead marks our 140th year in business. While focusing on building
the franchise, the legacy of Univest and achieving our vision, we will remain
guided by our mission and core values that have helped provide for a strong
foundation to successfully serve our four publics – employees, shareholders,
customers and communities.
We are confident in our abilities and strategic direction, and grateful for the
support of you, our loyal shareholders.
Vision Statement
To be the best integrated
financial solutions provider
in the market.
Regular Mail Communications:
Overnight Mail Communications:
Broadridge Corporate Issuer Solutions, Inc.
Broadridge Corporate Issuer Solutions, Inc.
PO Box 1342
Brentwood, NY 11717
Phone Number: 866-321-8021
Email Address: shareholder@broadridge.com
Website: https://investor.broadridge.com
ATTN: IWS
1155 Long Island Avenue
Edgewood, NY 11717
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 National Market, Symbol: UVSP.
Market Makers For Univest Corporation of Pennsylvania Common Stock
Boenning & Scattergood, Inc.
Goldman Sachs & Co.
Griffin Financial Group LLC
Janney Montgomery Scott LLC
Keefe Bruyette & Woods, Inc.
Morgan Stanley & Co., Inc.
UBS Securities LLC
“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 be faint.”
- Isaiah 40:29, 31
Our Franchise
139 YEARS OF
BUSINESS
SUCCESS
7 LOCAL PA
COUNTIES
SERVED
2015
ANNUAL REPORT
717 EMPLOYEES
MAKING IT
HAPPEN
17,647 EMPLOYEE
VOLUNTEER
HOURS
29 FINANCIAL
CENTERS
7 COMMERCIAL
& CORPORATE
OFFICES
3 INVESTMENT
OFFICES
5 INSURANCE
OFFICES
48,884 CONSUMER
HOUSEHOLDS 10,006 BUSINESS
CUSTOMERS
2015 Financial Performance
At December 31, (Dollars in thousands)
2015
2014
2013
Cash and interest-earning deposits
Investment securities
Net loans and leases
Other assets
Total assets
Deposits
Borrowings
Other liabilities
Total liabilities
Shareholders’ equity
Total liabilities and shareholders’ equity
$ 60,799
370,760
2,161,385
286,507
$ 2,879,451
$ 38,565
368,630
1,605,963
222,163
$ 2,235,321
$ 69,169
402,284
1,516,990
203,116
$ 2,191,559
$ 2,394,360
73,588
49,929
2,517,877
361,574
$ 2,879,451
$ 1,861,341
41,974
47,452
1,950,767
284,554
$ 2,235,321
$ 1,844,498
37,256
29,299
1,911,053
280,506
$ 2,191,559
For the years ended December 31,
(Dollars in thousands, except share and per share data)
2015
2014
2013
Interest income
Interest expense
Net-interest income
Provision for loan and lease losses
Net-interest income after provision for loan and lease losses
Non-interest income
Non-interest expense
Net income before income taxes
Income taxes
Net income
$ 101,459
8,065
93,394
3,802
89,592
52,949
105,515
37,026
9,758
$ 75,885
3,996
71,889
3,607
68,282
48,651
87,254
29,679
7,448
$ 77,579
5,117
72,462
11,228
61,234
46,784
81,133
26,885
5,696
$ 27,268
$ 22,231
$ 21,189
Book value per share
Net income per share:
Basic
Diluted
Dividends declared per share
$ 18.51
$ 17.54
$ 17.22
1.39
1.39
0.80
1.37
1.37
0.80
1.28
1.28
0.80
Weighted average shares outstanding
Period end shares outstanding
19,663,039
19,530,930
16,234,959
16,221,607
16,605,232
16,287,812
$2,000,000
$1,600,000
$1,200,000
$800,000
$400,000
$-
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$-
$30,000
$25,000
$20,000
$15,500
$10,000
$5,000
$-
$1.60
$1.55
$1.50
$1.45
$1.40
$1.35
$1.30
$1.25
$1.20
$1.15
2015
Financial
Highlights
Commercial Loans
Consumer Loans
Residential Real Estate
Lease Financings
‘14
‘13
Loan and Lease Outstandings
(in Thousands)
‘15
Non-interest income
Net-interest income
‘13
‘14
Total Revenue
(in Thousands)
‘15
9
8
1
,
1
2
$
‘13
1
3
2
,
2
2
$
‘14
Net Income
(in Thousands)
‘11
8
6
2
,
7
2
$
‘15
0
3
.
1
$
4
4
.
1
$
4
5
.
1
$
‘13
‘14
Diluted Earnings Per Share*
*EXCLUDING INTEGRATION AND ACQUISITION-RELATED
COSTS AND RESTRUCTURING CHARGES.
‘11
‘12
‘15
$2.9b
TOTAL ASSETS
57.35%
DIVIDENDS DECLARED
PAYOUT RATIO
1.09%
ROAA*
3.96%
NIM
12.86%
ROATE*
*EXCLUDING INTEGRATION AND
ACQUISITION-RELATED COSTS AND
RESTRUCTURING CHARGES.
• Diversifying our business and continuing to grow over time across the bank and our non-
banking operations organically, and supplemented by strategic acquisitions, is what will ensure
long term success for Univest. In 2015, we grew the bank both organically and through the
strategic acquisition of Valley Green Bank. During the fourth quarter, we announced a definitive
merger agreement to acquire Fox Chase Bancorp. The deal is anticipated to close during the
third quarter of 2016. In order to position the bank for continued success as we grow the size
and scope of our franchise, we expanded our bank leadership team during the fourth quarter of
2015 with the following appointments:
o Philip C. Jackson, President of the Northern Division of Commercial Banking,
which is defined as Bucks and Montgomery counties and the Lehigh Valley.
o Jay R. Goldstein, President of the Southern Division of Commercial Banking,
which is defined as Chester, Delaware and Philadelphia counties.
o Louis P. Spinelli, President of Consumer Banking, assumed responsibility for the
Valley Green Bank Division financial centers in addition to Univest’s 26 other financial
centers he was already leading.
o Hugh W. Connelly, President of Small Business Lending for Univest Bank and Trust Co.,
in addition to continuing as president of Univest Capital, Inc.
• While the acquisitions completed and anticipated have and will continue to increase our core
banking revenue, we remain focused on growing our non-banking revenue at an accelerated
pace. We remain committed to our goal of having 60% of our revenue and earnings coming from
core banking and 40% coming from our other financial operations.
2015
Integrated Successes
$3.0b
ASSETS UNDER
MANAGEMENT
AND SUPERVISION
$864m
LOANS SERVICED
FOR OTHERS
$147m
TOTAL INSURANCE
WRITTEN PREMIUM
$125m
EQUIPMENT FINANCE
OUTSTANDINGS
CORE BANKING
OPERATION
65% TOTAL REVENUE FOR
35% TOTAL REVENUE FOR
NON-BANKING
OPERATIONS
Univest Corporation of Pennsylvania
Listing as of January 1, 2016
Senior Leadership Team
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief
Executive Officer, Univest Bank and Trust Co.
Michael S. Keim
President and acting Chief Financial Officer,
Univest Bank and Trust Co. and Senior
Executive Vice President and acting Chief
Financial Officer, Univest Corporation
of Pennsylvania
Duane J. Brobst
Senior Executive Vice President and Chief Risk
Officer, Univest Corporation of Pennsylvania
Hugh W. Connelly
President, Univest Capital, Inc. and President
of Small Business Lending, Univest Bank and
Trust Co.
Ronald R. Flaherty
President, Univest Insurance, Inc.
Jay R. Goldstein
President, Commercial Banking, Southern
Division, Univest Bank and Trust Co.
Board of Directors
Listing as of January 1, 2016
Edward D. Hughes
President, Mortgage Banking,
Univest Bank and Trust Co.
Philip C. Jackson
President, Commercial Banking, Northern Division,
Univest Bank and Trust Co.
Kevin B. Norris
President, Girard Partners, Ltd and President,
Wealth Management, Univest Bank and Trust Co.
Louis P. Spinelli
President, Consumer Banking,
Univest Bank and Trust Co.
Eric W. Conner
Executive Vice President and Chief Technology Officer,
Univest Corporation of Pennsylvania
M. Theresa Schwartzer
Executive Vice President and Director of Human
Resources, Univest Corporation of Pennsylvania
Annette D. Szygiel
Executive Vice President and Chief Experience Officer,
Univest Corporation of Pennsylvania
William S. Aichele
Chairman of Univest Corporation of Pennsylvania
and of Univest Bank and Trust Co. Retired President
and Chief Executive Officer of Univest Corporation of
Pennsylvania and Univest Bank and Trust Co.
Thomas Scannapieco
President and CEO, Scannapiecco Development
Corporation
Mark A. Schlosser
Secretary and Treasurer, Schlosser Steel, Inc.
Douglas C. Clemens
Chief Executive Officer, Clemens Food Group
R. Lee Delp
Principal, R. L. Delp & Company
Jay R. Goldstein
President, Commercial Banking, Southern Division,
Univest Bank and Trust Co.
William G. Morral, C.P.A.
Accountant and Financial Consultant
Former Senior Vice President and Chief Financial
Officer, Moyer Packing Company
Glenn E. Moyer
Chief Executive Officer, Live Oak Strategies, LLC;
Board Chair and Trustee, Wyomissing Foundation;
Former Pennsylvania Secretary of Banking
and Securities
K. Leon Moyer
Retired President and Chief Executive Officer,
Univest Bank and Trust Co.
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief Executive
Officer, Univest Bank and Trust Co.
P. Gregory Shelly
President, Shellys US LBM LLC
Michael L. Turner
Partner, Marshall, Dennehey, Warner, Coleman
& Goggin
Margaret K. Zook
Director of Church and Community Relations,
Living Branches Retirement Communities; Board
Chair, The Penn Foundation
Charles H. Zimmerman*
Senior Leadership, Calvary Church; Director,
Clemens Family Corporation; Former Chairman
of the Department of Practical Theology, Biblical
Theological Seminary
*Alternate Director of Univest Corporation of Pennsylvania
Other Wholly-Owned Subsidiaries
Univest Bank and Trust Co.
Delview, Inc.
Univest Capital, Inc.
Univest Insurance, Inc.
Univest Investments, Inc.
Allied Benefits Group, LLC
Girard Partners, Ltd., a Univest Wealth
Management Firm
TCG Investment Advisory, Inc.
Please visit univest.net for a complete list of locations for Univest Corporation and our subsidiaries.
Integration Highlights
Diversifying our revenue and earnings streams and expanding in areas that complement our traditional
banking roots and business model have proven successful to Univest in both good and challenging
economic times.
2015 was the first year since 2011 that Univest did not grow its non-banking business through
acquisition. While largely fueled by momentum generated from acquisitions over the last few years, our
growth in our non-banking lines of business in 2015 was 100% attributed to organic growth.
Here are several highlights of our 2015 integrated successes:
• Our diversified businesses contributed $14.9 million in pre-tax income, representing over 40% of
our total pre-tax income.
• Univest Insurance continued to benefit from the acquisitions of John T. Fretz Insurance Agency
and Sterner Insurance Associates, which were completed in 2013 and 2014 respectively. These two
agencies continue to outperform expectations. Combined with the efforts of our existing team, we
realized record results with respect to new business sales.
• In addition to continuing to grow our equipment finance
outstandings, Univest Capital adopted a new, innovative
platform through nCino in 2015 to not only help streamline
sales execution and processing for the small ticket financing
subsidiary, but also to gain efficiencies for our small business
lending program.
• Since we started our Mortgage Banking business in 2008, it has
contributed significant revenue as a result of strong refinancing
activity through 2013 and a resurgence in new home purchases
in 2014 and 2015. The housing market rebounded even
more in 2015, fueling an increase in new mortgage volume.
Our expansion into Philadelphia also brought widespread
opportunities for our home loans division.
• Despite being negatively impacted by market performance,
financial advisors in our Wealth Management businesses achieved
strong organic growth coupled with increased referral activity
from strategic partners.
• To improve efficiency and the customer experience within
our Wealth Management businesses, we announced an internal
restructuring to combine the Univest and Girard advisory teams.
Simultaneously, we made the decision to retain the powerful
Girard name as a sub-brand of Univest and introduced a new
logo to align with Univest’s overall brand.
• To elevate awareness of our investment advisory capabilities,
Univest launched a robust public relations campaign in October
2015. Our experienced wealth advisors have provided insights
to several local and national media outlets. We are proud of
our growing brand and reputation for being a premier wealth
management firm in the greater Philadelphia region.
• We remain committed to growing the business in the local
communities that surround our headquarters as well as by
growing our presence in our expansion markets in southeastern
Pennsylvania, New Jersey and across the United States. As a
result of our diversified business model and convenient online
solutions, Univest has clients in all 50 states.
LOCAL AND NATIONAL MEDIA LOOK TO PREMIER
WEALTH MANAGEMENT FIRM FOR INSIGHTS
NEW ONLINE TOOL CAN TELL
YOU WHEN IT’S TIME TO RETIRE
(NOVEMBER 22, 2015)
HOW TO SPOT EARLY WARNING
SIGNS OF ELDER FINANCIAL ABUSE
(DECEMBER 9, 2015)
SEVEN MOVES INVESTORS CAN
MAKE AFTER THE FED’S RATE
HIKE (DECEMBER 18, 2015)
To our family of Shareholders, Customers and Employees
We are pleased to once again share a report which highlights a successful 2015 and our ability
to build the business for long-term success in a year of continued change and volatility for the
economy, our marketplace and the financial industry. Univest Corporation of Pennsylvania
reported net income of $27.3 million for the year, a 23% increase from $22.2 million in
2014. Our diversified earnings and disciplined business approach led to another year of solid
performance. We were pleased to continue sharing our success through consistent dividends for
our loyal shareholders.
We completed the strategic acquisition of Valley Green Bank on January 1, 2015. This
acquisition expanded our service area to the growing Philadelphia marketplace and brought
organic growth opportunities for our non-banking operations. During the fourth quarter,
we announced our definitive merger agreement to acquire Fox Chase Bancorp, Inc., parent
company of Fox Chase Bank which had approximately $1.1 billion in total assets, $768 million
in loans and $765 million in deposits at December 31, 2015. The acquisition of Fox Chase will make Univest the ninth largest
bank headquartered in Pennsylvania and the largest locally headquartered bank in the Bucks, Montgomery and Philadelphia
region by deposit market share.
Jeffrey M. Schweitzer, William S. Aichele
Our growth was a result of acquisitions, organic growth and the accomplishment of key strategic initiatives. During the year, our
success was achieved because of efficiencies gained and new opportunities realized from the rollout of our branch optimization
plan which included the consolidation of six offices and opening two financial centers featuring a new, modern branch model.
We organically grew our non-banking operations, upheld our reputation in our core communities and further built brand equity
in our expansion markets, invested in improved customer experiences and acquired and retained top talent to strengthen the
capabilities of our workforce.
In June, H. Paul Lewis retired from the Board of Directors after seven years of service. His loyalty and strategic contributions
helped Univest grow, specifically in the lower Bucks County community. We recognize and thank Paul for his leadership and
service to Univest and the community. We also had the privilege, in June, to welcome Glenn E. Moyer, former Secretary of
Banking and Securities for the Commonwealth of Pennsylvania, as a Director and Charles H. Zimmerman, Department Chair
for the Philadelphia Biblical Theological Seminary and Teaching Pastor for Calvary Church of Souderton, as an Alternate
Director to the Board.
In October, we promoted our Chief Financial Officer, Michael S. Keim, to President of Univest Bank and Trust Co. and
expanded the bank leadership team to strengthen our focus on organic growth across Univest’s widening marketplace.
Disruption in the marketplace created by big banks acquiring smaller community banks will no doubt bring Univest significant
opportunities in 2016 to gain market share and leverage our 140 years of solid performance and local commitment. We are
confident that the changes made in 2015 have put us in a strong position to build the business in the years ahead.
Our success and commitment to the communities we serve goes well beyond our financial performance and diverse financial
offerings. In 2015, we continued our philanthropic tradition and increased awareness of our “Committed to Local” giving
program. As a company, we gave back more than $1.5 million to local, nonprofit organizations and our employees volunteered
more than 17,600 hours of their time.
As you review the 2015 Annual Report, we trust you will be pleased with our accomplishments and plans for continued growth
and stability. We are well-positioned to seize opportunities, strengthen our franchise and enhance shareholder value. On behalf
of the entire Univest family, thank you for your support and investment.
IS THE EARLY 2016 DIP A GOOD BUYING
OPPORTUNITY? (JANUARY 5, 2016)
Sincerely,
HELPING A DENTIST TRANSITION INTO
RETIREMENT (FEBRUARY 17, 2016)
William S. Aichele
Chairman
Jeffrey M. Schweitzer
President and CEO
2015 Highlights
2015 was a year of successful growth and significant change as we worked to integrate the people, systems and cultures
of three acquisitions – completed from January 2014 to January 2015 – into the Univest family. These included:
Girard Partners, Ltd. (completed January 1, 2014 and now operating as a Univest Wealth Management Firm), Sterner
Insurance Associates (completed July 1, 2014 and now operating under Univest Insurance, Inc.) and Valley Green
Bank (completed January 1, 2015 and operating as a Division of Univest Bank and Trust Co.). The significant growth
through acquisition coupled with market disruption created a perfect storm of opportunity for Univest.
As a result, we focused much of 2015 on building relationships, investing in the business to improve systems and
convenience solutions, ensuring the safety of our customers and ultimately positioning Univest as the local financial
solutions partner of choice. Whether it was through marketing and communications campaigns, enhanced customer
experiences, new products and technology advances or other one-on-one efforts to build relationships, we remained
focused on evolving the business so we can remain relevant and serve our customers today, tomorrow and well into
the future.
We are pleased with all of our achievements, most of which were made possible by the earnest work of more than 700
employees. Together we achieved the following accomplishments:
• Revenue increased 21% over 2014.
• Earnings per share increased more than 7% over 2014 after adjusting both 2015 and 2014 net income for
integration and acquisition-related and restructuring charges, as applicable.
• Our loan portfolio increased $552 million from December 2014 as borrowing demand increased steadily in
conjunction with improvements in the local economy. In addition to the $381 million in loans acquired as a
result of the Valley Green Bank acquisition, we experienced strong organic loan growth of 11%.
• We continued to improve our asset quality with non-accrual loans down $3.2 million from December 2014
to $14.2 million at December 31, 2015.
• Deposits increased $533 million from December 2014 due to the acquisition of Valley Green Bank combined
with 8% organic growth.
• We raised $50 million in capital through the issuance of subordinated debt to enhance our regulatory capital
and support the growth occurring at Univest both organically and through acquisition.
• The first of Univest’s newly designed financial centers was opened in Newtown, Bucks County during the
first quarter of 2015. This facility features an improved customer experience that delivers highly personalized
service in a digitally engaging, contemporary environment. In the fall, we opened a second financial center
in Collegeville, Montgomery County. The new model has been well-received and is strengthening Univest’s
positive image as a progressive financial solutions provider.
Solid Growth
$381m
ACQUISITIVE LOAN GROWTH AS
A RESULT OF THE AQUISITION
OF VALLEY GREEN BANK
11%
ORGANIC LOAN GROWTH
FOR THE YEAR ENDED
DECEMBER 31, 2015
$386m
ACQUISITIVE DEPOSIT GROWTH
AS A RESULT OF THE AQUISITION
OF VALLEY GREEN BANK
8%
ORGANIC DEPOSIT GROWTH
FOR THE YEAR ENDED
DECEMBER 31, 2015
• In addition to locations we added through acquisitions and two new financial centers, Univest invested in
our facilities in 2015 to improve customer and employee experiences. Our corporate headquarters underwent
construction for a new main entrance to enhance handicap accessibility and improve security. The new lobby features
historical photographs depicting our growth as well as the growth of Souderton, the hometown of our headquarters
since 1876. Other office renovations occurred at Univest Plaza and at one of our Chester County locations.
• We also implemented positive change in other areas of the company, introduced new systems and refined
processes to maximize efficiency and reduce costs. Most notably, we converted former Valley Green Bank
customers to the Univest core banking platform in April and implemented a new deposit platform with enhanced
workflow which will generate efficiencies and improve the customer experience.
• Our marketing strategy continued to evolve as demand for digital and mobile content increased among
consumers online. By complementing traditional mass advertising channels with digital, social and online
advertising we’ve further built our company brand, optimized our targeting capabilities, improved campaign
success and increased lead generation across our integrated platform of solutions.
Spruce Street Harbor Park
Community Partnership
• Strategic brand partnerships also helped build awareness
for Univest throughout the year in many of our markets.
We continued partnerships with WFMZ, PBS39 and the
Iron Pigs in the Lehigh Valley; WNPV and Suburban
One Sports in Bucks and Montgomery counties,
and two new significant partnerships in our southern
region. In Chester County we partnered with Uptown
Entertainment Alliance to bring West Chester Borough
its first downtown theater in the historic Pennsylvania
National Guard Armory. Our sponsorship of the
Delaware River Waterfront Corporation’s Spruce Street
Harbor Park, a true summer oasis for the community and
a tourist destination, brought significant visibility to the
Univest brand in Philadelphia.
• In a commodity business, it is critical to continue to innovate with products that differentiate one financial
provider from another. After a nine-month beta program, Univest launched Univest PrimeSM which offers Univest
small business clients bundled services for one monthly subscription fee. Univest also introduced Perks@Work to
our business customers as a gateway to deliver consultative services, educational seminars and financial savings to
their employees.
• Univest continued to enhance its social media presence by consistently working to strengthen social connections
through our blog – My Univest, Twitter, Facebook, YouTube and LinkedIn. Successfully building our social
network and engaging individuals in our content led to Univest being recognized for the second consecutive year
by the Independent Community Bankers Association. In 2015, Univest was awarded the #2 spot among the top
50 community bank leaders in social media.
• Expenses related to risk management and technology continued to increase across the industry as a result of
rising fraud and cyber security. We recognize that the weakest link in cyber security is the human factor. As a
result, we implemented additional training for employees and customers in an attempt to mitigate these risks
through proactive education. In addition, we continued to invest in hardware and software solutions that monitor
for threats to the Univest network so they can be neutralized before serious damage can occur. Mid-year, we
implemented a secure email solution to protect our customers’ information and a more secure remote access
process for employees.
• Improving experiences for our biggest asset – our employees – remains a top priority. Happy, satisfied employees
help deliver superior experiences to our customers. In 2015, Univest enhanced its employee Wellness Program
and our efforts were recognized by the American Heart Association. Univest was honored as a Gold Level
Fit Friendly Worksite for our commitment to promoting a wellness culture, promoting physical activity and
supporting healthy eating options.
Integration Highlights
Diversifying our revenue and earnings streams and expanding in areas that complement our traditional
banking roots and business model have proven successful to Univest in both good and challenging
economic times.
2015 was the first year since 2011 that Univest did not grow its non-banking business through
acquisition. While largely fueled by momentum generated from acquisitions over the last few years, our
growth in our non-banking lines of business in 2015 was 100% attributed to organic growth.
Here are several highlights of our 2015 integrated successes:
• Our diversified businesses contributed $14.9 million in pre-tax income, representing over 40% of
our total pre-tax income.
• Univest Insurance continued to benefit from the acquisitions of John T. Fretz Insurance Agency
and Sterner Insurance Associates, which were completed in 2013 and 2014 respectively. These two
agencies continue to outperform expectations. Combined with the efforts of our existing team, we
realized record results with respect to new business sales.
• In addition to continuing to grow our equipment finance
outstandings, Univest Capital adopted a new, innovative
platform through nCino in 2015 to not only help streamline
sales execution and processing for the small ticket financing
subsidiary, but also to gain efficiencies for our small business
lending program.
• Since we started our Mortgage Banking business in 2008, it has
contributed significant revenue as a result of strong refinancing
activity through 2013 and a resurgence in new home purchases
in 2014 and 2015. The housing market rebounded even
more in 2015, fueling an increase in new mortgage volume.
Our expansion into Philadelphia also brought widespread
opportunities for our home loans division.
• Despite being negatively impacted by market performance,
financial advisors in our Wealth Management businesses achieved
strong organic growth coupled with increased referral activity
from strategic partners.
• To improve efficiency and the customer experience within
our Wealth Management businesses, we announced an internal
restructuring to combine the Univest and Girard advisory teams.
Simultaneously, we made the decision to retain the powerful
Girard name as a sub-brand of Univest and introduced a new
logo to align with Univest’s overall brand.
• To elevate awareness of our investment advisory capabilities,
Univest launched a robust public relations campaign in October
2015. Our experienced wealth advisors have provided insights
to several local and national media outlets. We are proud of
our growing brand and reputation for being a premier wealth
management firm in the greater Philadelphia region.
• We remain committed to growing the business in the local
communities that surround our headquarters as well as by
growing our presence in our expansion markets in southeastern
Pennsylvania, New Jersey and across the United States. As a
result of our diversified business model and convenient online
solutions, Univest has clients in all 50 states.
LOCAL AND NATIONAL MEDIA LOOK TO PREMIER
WEALTH MANAGEMENT FIRM FOR INSIGHTS
NEW ONLINE TOOL CAN TELL
YOU WHEN IT’S TIME TO RETIRE
(NOVEMBER 22, 2015)
HOW TO SPOT EARLY WARNING
SIGNS OF ELDER FINANCIAL ABUSE
(DECEMBER 9, 2015)
SEVEN MOVES INVESTORS CAN
MAKE AFTER THE FED’S RATE
HIKE (DECEMBER 18, 2015)
To our family of Shareholders, Customers and Employees
We are pleased to once again share a report which highlights a successful 2015 and our ability
to build the business for long-term success in a year of continued change and volatility for the
economy, our marketplace and the financial industry. Univest Corporation of Pennsylvania
reported net income of $27.3 million for the year, a 23% increase from $22.2 million in
2014. Our diversified earnings and disciplined business approach led to another year of solid
performance. We were pleased to continue sharing our success through consistent dividends for
our loyal shareholders.
We completed the strategic acquisition of Valley Green Bank on January 1, 2015. This
acquisition expanded our service area to the growing Philadelphia marketplace and brought
organic growth opportunities for our non-banking operations. During the fourth quarter,
we announced our definitive merger agreement to acquire Fox Chase Bancorp, Inc., parent
company of Fox Chase Bank which had approximately $1.1 billion in total assets, $768 million
in loans and $765 million in deposits at December 31, 2015. The acquisition of Fox Chase will make Univest the ninth largest
bank headquartered in Pennsylvania and the largest locally headquartered bank in the Bucks, Montgomery and Philadelphia
region by deposit market share.
Jeffrey M. Schweitzer, William S. Aichele
Our growth was a result of acquisitions, organic growth and the accomplishment of key strategic initiatives. During the year, our
success was achieved because of efficiencies gained and new opportunities realized from the rollout of our branch optimization
plan which included the consolidation of six offices and opening two financial centers featuring a new, modern branch model.
We organically grew our non-banking operations, upheld our reputation in our core communities and further built brand equity
in our expansion markets, invested in improved customer experiences and acquired and retained top talent to strengthen the
capabilities of our workforce.
In June, H. Paul Lewis retired from the Board of Directors after seven years of service. His loyalty and strategic contributions
helped Univest grow, specifically in the lower Bucks County community. We recognize and thank Paul for his leadership and
service to Univest and the community. We also had the privilege, in June, to welcome Glenn E. Moyer, former Secretary of
Banking and Securities for the Commonwealth of Pennsylvania, as a Director and Charles H. Zimmerman, Department Chair
for the Philadelphia Biblical Theological Seminary and Teaching Pastor for Calvary Church of Souderton, as an Alternate
Director to the Board.
In October, we promoted our Chief Financial Officer, Michael S. Keim, to President of Univest Bank and Trust Co. and
expanded the bank leadership team to strengthen our focus on organic growth across Univest’s widening marketplace.
Disruption in the marketplace created by big banks acquiring smaller community banks will no doubt bring Univest significant
opportunities in 2016 to gain market share and leverage our 140 years of solid performance and local commitment. We are
confident that the changes made in 2015 have put us in a strong position to build the business in the years ahead.
Our success and commitment to the communities we serve goes well beyond our financial performance and diverse financial
offerings. In 2015, we continued our philanthropic tradition and increased awareness of our “Committed to Local” giving
program. As a company, we gave back more than $1.5 million to local, nonprofit organizations and our employees volunteered
more than 17,600 hours of their time.
As you review the 2015 Annual Report, we trust you will be pleased with our accomplishments and plans for continued growth
and stability. We are well-positioned to seize opportunities, strengthen our franchise and enhance shareholder value. On behalf
of the entire Univest family, thank you for your support and investment.
IS THE EARLY 2016 DIP A GOOD BUYING
OPPORTUNITY? (JANUARY 5, 2016)
Sincerely,
HELPING A DENTIST TRANSITION INTO
RETIREMENT (FEBRUARY 17, 2016)
William S. Aichele
Chairman
Jeffrey M. Schweitzer
President and CEO
2015 Financial Performance
At December 31, (Dollars in thousands)
2015
2014
2013
Cash and interest-earning deposits
Investment securities
Net loans and leases
Other assets
Total assets
Deposits
Borrowings
Other liabilities
Total liabilities
Shareholders’ equity
Total liabilities and shareholders’ equity
$ 60,799
370,760
2,161,385
286,507
$ 2,879,451
$ 38,565
368,630
1,605,963
222,163
$ 2,235,321
$ 69,169
402,284
1,516,990
203,116
$ 2,191,559
$ 2,394,360
73,588
49,929
2,517,877
361,574
$ 2,879,451
$ 1,861,341
41,974
47,452
1,950,767
284,554
$ 2,235,321
$ 1,844,498
37,256
29,299
1,911,053
280,506
$ 2,191,559
For the years ended December 31,
(Dollars in thousands, except share and per share data)
2015
2014
2013
Interest income
Interest expense
Net-interest income
Provision for loan and lease losses
Net-interest income after provision for loan and lease losses
Non-interest income
Non-interest expense
Net income before income taxes
Income taxes
Net income
$ 101,459
8,065
93,394
3,802
89,592
52,949
105,515
37,026
9,758
$ 75,885
3,996
71,889
3,607
68,282
48,651
87,254
29,679
7,448
$ 77,579
5,117
72,462
11,228
61,234
46,784
81,133
26,885
5,696
$ 27,268
$ 22,231
$ 21,189
Book value per share
Net income per share:
Basic
Diluted
Dividends declared per share
$ 18.51
$ 17.54
$ 17.22
1.39
1.39
0.80
1.37
1.37
0.80
1.28
1.28
0.80
Weighted average shares outstanding
Period end shares outstanding
19,663,039
19,530,930
16,234,959
16,221,607
16,605,232
16,287,812
$2,000,000
$1,600,000
$1,200,000
$800,000
$400,000
$-
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$-
$30,000
$25,000
$20,000
$15,500
$10,000
$5,000
$-
$1.60
$1.55
$1.50
$1.45
$1.40
$1.35
$1.30
$1.25
$1.20
$1.15
2015
Financial
Highlights
Commercial Loans
Consumer Loans
Residential Real Estate
Lease Financings
‘14
‘13
Loan and Lease Outstandings
(in Thousands)
‘15
Non-interest income
Net-interest income
‘13
‘14
Total Revenue
(in Thousands)
‘15
9
8
1
,
1
2
$
‘13
1
3
2
,
2
2
$
‘14
Net Income
(in Thousands)
‘11
8
6
2
,
7
2
$
‘15
0
3
.
1
$
4
4
.
1
$
4
5
.
1
$
‘13
‘14
Diluted Earnings Per Share*
*EXCLUDING INTEGRATION AND ACQUISITION-RELATED
COSTS AND RESTRUCTURING CHARGES.
‘12
‘15
‘11
$2.9b
TOTAL ASSETS
57.35%
DIVIDENDS DECLARED
PAYOUT RATIO
1.09%
ROAA*
3.96%
NIM
12.86%
ROATE*
*EXCLUDING INTEGRATION AND
ACQUISITION-RELATED COSTS AND
RESTRUCTURING CHARGES.
• Diversifying our business and continuing to grow over time across the bank and our non-
banking operations organically, and supplemented by strategic acquisitions, is what will ensure
long term success for Univest. In 2015, we grew the bank both organically and through the
strategic acquisition of Valley Green Bank. During the fourth quarter, we announced a definitive
merger agreement to acquire Fox Chase Bancorp. The deal is anticipated to close during the
third quarter of 2016. In order to position the bank for continued success as we grow the size
and scope of our franchise, we expanded our bank leadership team during the fourth quarter of
2015 with the following appointments:
o Philip C. Jackson, President of the Northern Division of Commercial Banking,
which is defined as Bucks and Montgomery counties and the Lehigh Valley.
o Jay R. Goldstein, President of the Southern Division of Commercial Banking,
which is defined as Chester, Delaware and Philadelphia counties.
o Louis P. Spinelli, President of Consumer Banking, assumed responsibility for the
Valley Green Bank Division financial centers in addition to Univest’s 26 other financial
centers he was already leading.
o Hugh W. Connelly, President of Small Business Lending for Univest Bank and Trust Co.,
in addition to continuing as president of Univest Capital, Inc.
• While the acquisitions completed and anticipated have and will continue to increase our core
banking revenue, we remain focused on growing our non-banking revenue at an accelerated
pace. We remain committed to our goal of having 60% of our revenue and earnings coming from
core banking and 40% coming from our other financial operations.
2015
Integrated Successes
$3.0b
ASSETS UNDER
MANAGEMENT
AND SUPERVISION
$864m
LOANS SERVICED
FOR OTHERS
$147m
TOTAL INSURANCE
WRITTEN PREMIUM
$125m
EQUIPMENT FINANCE
OUTSTANDINGS
CORE BANKING
OPERATION
65% TOTAL REVENUE FOR
35% TOTAL REVENUE FOR
NON-BANKING
OPERATIONS
Univest Corporation of Pennsylvania
Listing as of January 1, 2016
Senior Leadership Team
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief
Executive Officer, Univest Bank and Trust Co.
Michael S. Keim
President and acting Chief Financial Officer,
Univest Bank and Trust Co. and Senior
Executive Vice President and acting Chief
Financial Officer, Univest Corporation
of Pennsylvania
Duane J. Brobst
Senior Executive Vice President and Chief Risk
Officer, Univest Corporation of Pennsylvania
Hugh W. Connelly
President, Univest Capital, Inc. and President
of Small Business Lending, Univest Bank and
Trust Co.
Ronald R. Flaherty
President, Univest Insurance, Inc.
Jay R. Goldstein
President, Commercial Banking, Southern
Division, Univest Bank and Trust Co.
Board of Directors
Listing as of January 1, 2016
Edward D. Hughes
President, Mortgage Banking,
Univest Bank and Trust Co.
Philip C. Jackson
President, Commercial Banking, Northern Division,
Univest Bank and Trust Co.
Kevin B. Norris
President, Girard Partners, Ltd and President,
Wealth Management, Univest Bank and Trust Co.
Louis P. Spinelli
President, Consumer Banking,
Univest Bank and Trust Co.
Eric W. Conner
Executive Vice President and Chief Technology Officer,
Univest Corporation of Pennsylvania
M. Theresa Schwartzer
Executive Vice President and Director of Human
Resources, Univest Corporation of Pennsylvania
Annette D. Szygiel
Executive Vice President and Chief Experience Officer,
Univest Corporation of Pennsylvania
William S. Aichele
Chairman of Univest Corporation of Pennsylvania
and of Univest Bank and Trust Co. Retired President
and Chief Executive Officer of Univest Corporation of
Pennsylvania and Univest Bank and Trust Co.
Thomas Scannapieco
President and CEO, Scannapiecco Development
Corporation
Mark A. Schlosser
Secretary and Treasurer, Schlosser Steel, Inc.
Douglas C. Clemens
Chief Executive Officer, Clemens Food Group
R. Lee Delp
Principal, R. L. Delp & Company
Jay R. Goldstein
President, Commercial Banking, Southern Division,
Univest Bank and Trust Co.
William G. Morral, C.P.A.
Accountant and Financial Consultant
Former Senior Vice President and Chief Financial
Officer, Moyer Packing Company
Glenn E. Moyer
Chief Executive Officer, Live Oak Strategies, LLC;
Board Chair and Trustee, Wyomissing Foundation;
Former Pennsylvania Secretary of Banking
and Securities
K. Leon Moyer
Retired President and Chief Executive Officer,
Univest Bank and Trust Co.
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief Executive
Officer, Univest Bank and Trust Co.
P. Gregory Shelly
President, Shellys US LBM LLC
Michael L. Turner
Partner, Marshall, Dennehey, Warner, Coleman
& Goggin
Margaret K. Zook
Director of Church and Community Relations,
Living Branches Retirement Communities; Board
Chair, The Penn Foundation
Charles H. Zimmerman*
Senior Leadership, Calvary Church; Director,
Clemens Family Corporation; Former Chairman
of the Department of Practical Theology, Biblical
Theological Seminary
*Alternate Director of Univest Corporation of Pennsylvania
Other Wholly-Owned Subsidiaries
Univest Bank and Trust Co.
Delview, Inc.
Univest Capital, Inc.
Univest Insurance, Inc.
Univest Investments, Inc.
Allied Benefits Group, LLC
Girard Partners, Ltd., a Univest Wealth
Management Firm
TCG Investment Advisory, Inc.
Please visit univest.net for a complete list of locations for Univest Corporation and our subsidiaries.
2015 Financial Performance
At December 31, (Dollars in thousands)
2015
2014
2013
Cash and interest-earning deposits
Investment securities
Net loans and leases
Other assets
Total assets
Deposits
Borrowings
Other liabilities
Total liabilities
Shareholders’ equity
Total liabilities and shareholders’ equity
$ 60,799
370,760
2,161,385
286,507
$ 2,879,451
$ 38,565
368,630
1,605,963
222,163
$ 2,235,321
$ 69,169
402,284
1,516,990
203,116
$ 2,191,559
$ 2,394,360
73,588
49,929
2,517,877
361,574
$ 2,879,451
$ 1,861,341
41,974
47,452
1,950,767
284,554
$ 2,235,321
$ 1,844,498
37,256
29,299
1,911,053
280,506
$ 2,191,559
For the years ended December 31,
(Dollars in thousands, except share and per share data)
2015
2014
2013
Interest income
Interest expense
Net-interest income
Provision for loan and lease losses
Net-interest income after provision for loan and lease losses
Non-interest income
Non-interest expense
Net income before income taxes
Income taxes
Net income
$ 101,459
8,065
93,394
3,802
89,592
52,949
105,515
37,026
9,758
$ 75,885
3,996
71,889
3,607
68,282
48,651
87,254
29,679
7,448
$ 77,579
5,117
72,462
11,228
61,234
46,784
81,133
26,885
5,696
$ 27,268
$ 22,231
$ 21,189
Book value per share
Net income per share:
Basic
Diluted
Dividends declared per share
$ 18.51
$ 17.54
$ 17.22
1.39
1.39
0.80
1.37
1.37
0.80
1.28
1.28
0.80
Weighted average shares outstanding
Period end shares outstanding
19,663,039
19,530,930
16,234,959
16,221,607
16,605,232
16,287,812
$2,000,000
$1,600,000
$1,200,000
$800,000
$400,000
$-
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$-
$30,000
$25,000
$20,000
$15,500
$10,000
$5,000
$-
$1.60
$1.55
$1.50
$1.45
$1.40
$1.35
$1.30
$1.25
$1.20
$1.15
2015
Financial
Highlights
Commercial Loans
Consumer Loans
Residential Real Estate
Lease Financings
‘14
‘13
Loan and Lease Outstandings
(in Thousands)
‘15
Non-interest income
Net-interest income
‘13
‘14
Total Revenue
(in Thousands)
‘15
9
8
1
,
1
2
$
‘13
1
3
2
,
2
2
$
‘14
Net Income
(in Thousands)
‘11
8
6
2
,
7
2
$
‘15
0
3
.
1
$
4
4
.
1
$
4
5
.
1
$
‘13
‘14
Diluted Earnings Per Share*
*EXCLUDING INTEGRATION AND ACQUISITION-RELATED
COSTS AND RESTRUCTURING CHARGES.
‘12
‘11
‘15
$2.9b
TOTAL ASSETS
57.35%
DIVIDENDS DECLARED
PAYOUT RATIO
1.09%
ROAA*
3.96%
NIM
12.86%
ROATE*
*EXCLUDING INTEGRATION AND
ACQUISITION-RELATED COSTS AND
RESTRUCTURING CHARGES.
• Diversifying our business and continuing to grow over time across the bank and our non-
banking operations organically, and supplemented by strategic acquisitions, is what will ensure
long term success for Univest. In 2015, we grew the bank both organically and through the
strategic acquisition of Valley Green Bank. During the fourth quarter, we announced a definitive
merger agreement to acquire Fox Chase Bancorp. The deal is anticipated to close during the
third quarter of 2016. In order to position the bank for continued success as we grow the size
and scope of our franchise, we expanded our bank leadership team during the fourth quarter of
2015 with the following appointments:
o Philip C. Jackson, President of the Northern Division of Commercial Banking,
which is defined as Bucks and Montgomery counties and the Lehigh Valley.
o Jay R. Goldstein, President of the Southern Division of Commercial Banking,
which is defined as Chester, Delaware and Philadelphia counties.
o Louis P. Spinelli, President of Consumer Banking, assumed responsibility for the
Valley Green Bank Division financial centers in addition to Univest’s 26 other financial
centers he was already leading.
o Hugh W. Connelly, President of Small Business Lending for Univest Bank and Trust Co.,
in addition to continuing as president of Univest Capital, Inc.
• While the acquisitions completed and anticipated have and will continue to increase our core
banking revenue, we remain focused on growing our non-banking revenue at an accelerated
pace. We remain committed to our goal of having 60% of our revenue and earnings coming from
core banking and 40% coming from our other financial operations.
2015
Integrated Successes
$3.0b
ASSETS UNDER
MANAGEMENT
AND SUPERVISION
$864m
LOANS SERVICED
FOR OTHERS
$147m
TOTAL INSURANCE
WRITTEN PREMIUM
$125m
EQUIPMENT FINANCE
OUTSTANDINGS
CORE BANKING
OPERATION
65% TOTAL REVENUE FOR
35% TOTAL REVENUE FOR
NON-BANKING
OPERATIONS
Univest Corporation of Pennsylvania
Listing as of January 1, 2016
Senior Leadership Team
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief
Executive Officer, Univest Bank and Trust Co.
Michael S. Keim
President and acting Chief Financial Officer,
Univest Bank and Trust Co. and Senior
Executive Vice President and acting Chief
Financial Officer, Univest Corporation
of Pennsylvania
Duane J. Brobst
Senior Executive Vice President and Chief Risk
Officer, Univest Corporation of Pennsylvania
Hugh W. Connelly
President, Univest Capital, Inc. and President
of Small Business Lending, Univest Bank and
Trust Co.
Ronald R. Flaherty
President, Univest Insurance, Inc.
Jay R. Goldstein
President, Commercial Banking, Southern
Division, Univest Bank and Trust Co.
Board of Directors
Listing as of January 1, 2016
Edward D. Hughes
President, Mortgage Banking,
Univest Bank and Trust Co.
Philip C. Jackson
President, Commercial Banking, Northern Division,
Univest Bank and Trust Co.
Kevin B. Norris
President, Girard Partners, Ltd and President,
Wealth Management, Univest Bank and Trust Co.
Louis P. Spinelli
President, Consumer Banking,
Univest Bank and Trust Co.
Eric W. Conner
Executive Vice President and Chief Technology Officer,
Univest Corporation of Pennsylvania
M. Theresa Schwartzer
Executive Vice President and Director of Human
Resources, Univest Corporation of Pennsylvania
Annette D. Szygiel
Executive Vice President and Chief Experience Officer,
Univest Corporation of Pennsylvania
William S. Aichele
Chairman of Univest Corporation of Pennsylvania
and of Univest Bank and Trust Co. Retired President
and Chief Executive Officer of Univest Corporation of
Pennsylvania and Univest Bank and Trust Co.
Thomas Scannapieco
President and CEO, Scannapiecco Development
Corporation
Mark A. Schlosser
Secretary and Treasurer, Schlosser Steel, Inc.
Douglas C. Clemens
Chief Executive Officer, Clemens Food Group
R. Lee Delp
Principal, R. L. Delp & Company
Jay R. Goldstein
President, Commercial Banking, Southern Division,
Univest Bank and Trust Co.
William G. Morral, C.P.A.
Accountant and Financial Consultant
Former Senior Vice President and Chief Financial
Officer, Moyer Packing Company
Glenn E. Moyer
Chief Executive Officer, Live Oak Strategies, LLC;
Board Chair and Trustee, Wyomissing Foundation;
Former Pennsylvania Secretary of Banking
and Securities
K. Leon Moyer
Retired President and Chief Executive Officer,
Univest Bank and Trust Co.
Jeffrey M. Schweitzer
President and Chief Executive Officer, Univest
Corporation of Pennsylvania and Chief Executive
Officer, Univest Bank and Trust Co.
P. Gregory Shelly
President, Shellys US LBM LLC
Michael L. Turner
Partner, Marshall, Dennehey, Warner, Coleman
& Goggin
Margaret K. Zook
Director of Church and Community Relations,
Living Branches Retirement Communities; Board
Chair, The Penn Foundation
Charles H. Zimmerman*
Senior Leadership, Calvary Church; Director,
Clemens Family Corporation; Former Chairman
of the Department of Practical Theology, Biblical
Theological Seminary
*Alternate Director of Univest Corporation of Pennsylvania
Other Wholly-Owned Subsidiaries
Univest Bank and Trust Co.
Delview, Inc.
Univest Capital, Inc.
Univest Insurance, Inc.
Univest Investments, Inc.
Allied Benefits Group, LLC
Girard Partners, Ltd., a Univest Wealth
Management Firm
TCG Investment Advisory, Inc.
Please visit univest.net for a complete list of locations for Univest Corporation and our subsidiaries.
Ready for a Bright Future
Shareholder Information
Across our industry, technology and regulatory demands continue to drive rapid
change. At Univest, we remain laser focused on moving the performance needle
and ensuring that we exceed customer expectations for the solutions, service,
and security we deliver.
Shareholders’ Meeting
The Annual Shareholders’ Meeting will take place at 10:45 a.m. on Tuesday, April 19, 2016 at Indian Valley
Country Club, located at 650 Bergey Road, Telford, PA 18969.
Univest Stock Transfer Agent
For more information on Univest Corporation of Pennsylvania common stock, please contact Broadridge
As we close the chapter on one year and look ahead to 2016, we have never been
Corporate Issuer Solutions or visit the investor relations section at www.univest.net.
more cognizant of what sets us apart – our people, diversified financial solutions,
commitment to service excellence and our ability to keep up with rapid change
to remain relevant and competitive.
The year ahead marks our 140th year in business. While focusing on building
the franchise, the legacy of Univest and achieving our vision, we will remain
guided by our mission and core values that have helped provide for a strong
foundation to successfully serve our four publics – employees, shareholders,
customers and communities.
We are confident in our abilities and strategic direction, and grateful for the
support of you, our loyal shareholders.
Vision Statement
To be the best integrated
financial solutions provider
in the market.
Regular Mail Communications:
Overnight Mail Communications:
Broadridge Corporate Issuer Solutions, Inc.
Broadridge Corporate Issuer Solutions, Inc.
PO Box 1342
Brentwood, NY 11717
Phone Number: 866-321-8021
Email Address: shareholder@broadridge.com
Website: https://investor.broadridge.com
ATTN: IWS
1155 Long Island Avenue
Edgewood, NY 11717
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 National Market, Symbol: UVSP.
Market Makers For Univest Corporation of Pennsylvania Common Stock
Boenning & Scattergood, Inc.
Goldman Sachs & Co.
Griffin Financial Group LLC
Janney Montgomery Scott LLC
Keefe Bruyette & Woods, Inc.
Morgan Stanley & Co., Inc.
UBS Securities LLC
“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 be faint.”
- Isaiah 40:29, 31
Our Franchise
139 YEARS OF
BUSINESS
SUCCESS
7 LOCAL PA
COUNTIES
SERVED
2015
ANNUAL REPORT
717 EMPLOYEES
MAKING IT
HAPPEN
17,647 EMPLOYEE
VOLUNTEER
HOURS
29 FINANCIAL
CENTERS
7 COMMERCIAL
& CORPORATE
OFFICES
3 INVESTMENT
OFFICES
5 INSURANCE
OFFICES
48,884 CONSUMER
HOUSEHOLDS 10,006 BUSINESS
CUSTOMERS
Ready for a Bright Future
Shareholder Information
Across our industry, technology and regulatory demands continue to drive rapid
change. At Univest, we remain laser focused on moving the performance needle
and ensuring that we exceed customer expectations for the solutions, service,
and security we deliver.
Shareholders’ Meeting
The Annual Shareholders’ Meeting will take place at 10:45 a.m. on Tuesday, April 19, 2016 at Indian Valley
Country Club, located at 650 Bergey Road, Telford, PA 18969.
Univest Stock Transfer Agent
For more information on Univest Corporation of Pennsylvania common stock, please contact Broadridge
As we close the chapter on one year and look ahead to 2016, we have never been
Corporate Issuer Solutions or visit the investor relations section at www.univest.net.
more cognizant of what sets us apart – our people, diversified financial solutions,
commitment to service excellence and our ability to keep up with rapid change
to remain relevant and competitive.
The year ahead marks our 140th year in business. While focusing on building
the franchise, the legacy of Univest and achieving our vision, we will remain
guided by our mission and core values that have helped provide for a strong
foundation to successfully serve our four publics – employees, shareholders,
customers and communities.
We are confident in our abilities and strategic direction, and grateful for the
support of you, our loyal shareholders.
Vision Statement
To be the best integrated
financial solutions provider
in the market.
Regular Mail Communications:
Overnight Mail Communications:
Broadridge Corporate Issuer Solutions, Inc.
Broadridge Corporate Issuer Solutions, Inc.
PO Box 1342
Brentwood, NY 11717
Phone Number: 866-321-8021
Email Address: shareholder@broadridge.com
Website: https://investor.broadridge.com
ATTN: IWS
1155 Long Island Avenue
Edgewood, NY 11717
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 National Market, Symbol: UVSP.
Market Makers For Univest Corporation of Pennsylvania Common Stock
Boenning & Scattergood, Inc.
Goldman Sachs & Co.
Griffin Financial Group LLC
Janney Montgomery Scott LLC
Keefe Bruyette & Woods, Inc.
Morgan Stanley & Co., Inc.
UBS Securities LLC
“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 be faint.”
- Isaiah 40:29, 31
Our Franchise
139 YEARS OF
BUSINESS
SUCCESS
7 LOCAL PA
COUNTIES
SERVED
2015
ANNUAL REPORT
717 EMPLOYEES
MAKING IT
HAPPEN
17,647 EMPLOYEE
VOLUNTEER
HOURS
29 FINANCIAL
CENTERS
7 COMMERCIAL
& CORPORATE
OFFICES
3 INVESTMENT
OFFICES
5 INSURANCE
OFFICES
48,884 CONSUMER
HOUSEHOLDS 10,006 BUSINESS
CUSTOMERS