Univest Financial (UVSP) 8-K Univest Corporation of Pennsylvania — Univest National Bank and Trust Co. — Reports First Quarter Earnings

Exhibit 99.1

NEWS

CONTACT: Kim Detwiler
UNIVEST CORPORATION OF PENNSYLVANIA
Vice President, Director of Corporate Communications
215-721-8396,detwilerk@univest.net

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA — UNIVEST NATIONAL
BANK AND TRUST CO. — REPORTS FIRST QUARTER EARNINGS

SOUDERTON, Pa., April 22, 2009 — Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest National Bank and Trust Co. of Souderton, Pa., has reported net income of $3,836,000 or $0.30 basic net income per share for the first quarter ended March 31, 2009, compared to $6,721,000 or $0.52 basic net income per share for the first quarter ended March 31, 2008. Diluted earnings per share were $0.30 for the first quarter ended March 31, 2009, compared to $0.52 per share for the first quarter ended March 31, 2008.

On April 1, 2009, Univest Corporation paid a quarterly cash dividend of $0.20 per share.

About Univest Corporation

Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. Univest National Bank and Trust Co., member FDIC and Equal Housing Lender, offers customers 32 financial service centers, 12 retirement financial services centers, and 38 ATM locations throughout the region, and is the parent company of Univest Capital, Inc., a small ticket commercial finance business; Univest Insurance, Inc., an independent insurance agency headquartered in Lansdale, Pa., which serves commercial and personal customers; and Univest Investments, Inc., Member FINRA and SIPC, a full-service broker-dealer and investment advisory firm. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visitwww.univest.net.

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This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company’s financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
March 31, 2009

(Dollars in thousands)

Balance Sheet (Period End)	03/31/09		12/31/08		09/30/08		06/30/08		03/31/08
Assets	$	2,065,901	$	2,084,797	$	2,046,390	$	2,012,659	$	2,059,572
Securities		410,357		432,266		406,965		419,804		463,553
Loans and leases, gross		1,455,492		1,450,436		1,441,899		1,398,269		1,357,887
Allowance for loan and lease losses		14,720		13,118		14,954		13,713		12,997
Loans and leases, net		1,440,772		1,437,318		1,426,945		1,384,556		1,344,890
Total deposits		1,573,052		1,527,328		1,507,527		1,504,007		1,616,843
Non-interest bearing deposits		218,148		221,863		226,606		233,436		230,531
NOW, Money Market and Savings		819,659		795,495		783,830		788,177		925,613
Time deposits		535,245		509,970		497,091		482,394		460,699
Borrowings		245,962		312,736		304,368		275,345		202,073
Shareholders’ equity		206,238		203,207		204,251		203,138		203,263

	For the three months ended,
Balance Sheet (Average)	03/31/09		12/31/08		09/30/08		06/30/08		03/31/08
Assets	$	2,059,965	$	2,028,900	$	2,020,537	$	2,044,987	$	2,005,682
Securities		419,995		403,783		412,271		450,070		441,533
Loans and leases, gross		1,446,157		1,437,727		1,422,774		1,392,177		1,354,584
Deposits		1,555,964		1,523,964		1,503,402		1,560,015		1,565,693
Shareholders’ equity		204,544		205,384		205,062		205,464		200,439

Asset Quality Data (Period End)	03/31/09			12/31/08			09/30/08			06/30/08			03/31/08
Nonaccrual loans and leases	$	3,675		$	5,029		$	7,871		$	6,992		$	6,165
Troubled debt restructured		747			380			563			423			—
Other real estate owned		2,824			346			346			—			—
Nonperforming assets		9,355			6,900			10,358			10,422			9,680
Allowance for loan and lease losses		14,720			13,118			14,954			13,713			12,997
Nonperforming loans and leases / Loans and leases		0.45	%		0.45	%		0.69	%		0.75	%		0.71	%
Allowance for loan and lease losses / Loans and leases		1.01	%		0.90	%		1.04	%		0.98	%		0.96	%
Allowance for loan and lease losses / Nonperforming loans		225.39	%		200.15	%		149.36	%		131.58	%		134.27	%

	For the three months ended,
	03/31/09			12/31/08			09/30/08			06/30/08			03/31/08
Net loan and lease charge-offs	$	554		$	4,263		$	1,804		$	1,582		$	1,088
Net loan and lease charge-offs (annualized) / Average loans and leases		0.16	%		1.18	%		0.50	%		0.46	%		0.32	%

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
March 31, 2009

(Dollars in thousands, except per share data)

	For the three months ended,
For the period:	03/31/09			12/31/08			09/30/08			06/30/08			03/31/08
Interest income	$	24,402		$	26,455		$	26,661		$	26,935		$	28,007
Interest expense		8,057			9,630			10,148			10,370			12,162
Net interest income		16,345			16,825			16,513			16,565			15,845
Provision for loan and lease losses		2,156			2,427			3,046			2,297			999
Net interest income after provision		14,189			14,398			13,467			14,268			14,846
Noninterest income:
Trust fee income		1,425			1,171			1,578			1,628			1,627
Service charges on deposit accounts		1,613			1,723			1,719			1,708			1,658
Investment advisory commission and fee income		754			536			581			642			615
Insurance commissions and fee income		1,986			1,128			1,266			1,271			2,058
Bank owned life insurance income		157			25			241			1,734			791
Net (loss) gain on sales of and impairments on securities		(1,140	)		(122	)		(692	)		(213	)		56
Other income		1,379			867			871			1,209			938
Total noninterest income		6,174			5,328			5,564			7,979			7,743
Noninterest expense
Salaries and benefits		9,432			8,291			7,935			8,019			8,168
Premises and equipment		2,233			2,225			2,110			2,085			2,057
Other expense		3,838			4,351			3,620			4,981			3,383
Total noninterest expense		15,503			14,867			13,665			15,085			13,608
Income before taxes		4,860			4,859			5,366			7,162			8,981
Applicable income taxes		1,024			1,054			1,176			1,288			2,260
Net income	$	3,836		$	3,805		$	4,190		$	5,874		$	6,721
Per Common Share Data:
Book value per share	$	15.87		$	15.71		$	15.83		$	15.80		$	15.83
Net income per share:
Basic	$	0.30		$	0.30		$	0.33		$	0.46		$	0.52
Diluted	$	0.30		$	0.29		$	0.33		$	0.46		$	0.52
Dividends per share	$	0.20		$	0.20		$	0.20		$	0.20		$	0.20
Weighted average shares outstanding		12,977,369			12,921,814			12,874,648			12,855,379			12,839,040
Period end shares outstanding		12,996,291			12,938,514			12,905,326			12,858,376			12,843,507

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
March 31, 2009

	For the three months ended,
	03/31/09			12/31/08			09/30/08			06/30/08			03/31/08
Profitability Ratios (annualized)
Return on average assets		0.76	%		0.75	%		0.82	%		1.16	%		1.35	%
Return on average shareholders’ equity		7.61	%		7.37	%		8.13	%		11.50	%		13.49	%
Net interest margin (FTE)		3.76	%		3.83	%		3.76	%		3.74	%		3.66	%
Efficiency ratio (1)		65.70	%		64.32	%		59.15	%		57.34	%		54.77	%
Capitalization Ratios
Dividends paid to net income		67.75	%		67.94	%		61.50	%		43.77	%		38.22	%
Shareholders’ equity to assets (Period End)		9.98	%		9.75	%		9.98	%		10.09	%		9.87	%

(1) Total operating expenses to net interest income before loan loss provision plus non-interest income adjusted for tax equivalent income.