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NEWS CONTACT : Brian J. Richardson Chief Financial Officer UNIVEST FINANCIAL CORPORATION 215-721-2446 , richardsonb@univest.net FOR IMMEDIATE RELEASE Exhibit 99.1 UNIVEST BANKING INSURANCE INVESTMENTS univest.net UNIVEST FINANCIAL CORPORATION REPORTS SECOND QUARTER RESULTS ( Loan Growth ( excluding PPP loans¹ ) for last twelve months of 14.0 % ) SOUDERTON , Pa . , July 28 , 2021 - Univest Financial Corporation ( " Univest " or the " Corporation " ) ( NASDAQ : UVSP ) , parent company of Univest Bank and Trust Co. and its insurance , investments and equipment financing subsidiaries , today announced net income for the quarter ended June 30 , 2021 was $ 20.9 million , or $ 0.71 diluted earnings per share , compared to net income of $ 2.1 million , or $ 0.07 diluted earnings per share , for the quarter ended June 30 , 2020. Net income for the six months ended June 30 , 2021 was $ 53.5 million , or $ 1.81 diluted earnings per share , compared to net income of $ 2.9 million , or $ 0.10 diluted earnings per share , for the six months ended June 30 , 2020 . Pre - tax pre - provision income¹ for the quarter ended June 30 , 2021 was $ 25.7 million , an increase of $ 143 thousand , or 0.6 % , from the second quarter of 2020. Pre - tax pre - provision income¹ for the six months ended June 30 , 2021 was $ 54.8 million , an increase of $ 7.2 million , or 15.1 % , from the comparable period in the prior year . One - Time Items The financial results for the three and six months ended June 30 , 2021 included a tax - free bank owned life insurance ( " BOLI " ) death benefit claim of $ 893 thousand , which represents $ 0.03 diluted earnings per share . Paycheck Protection Program On December 27 , 2020 , the Consolidated Appropriations Act , 2021 , was signed into law , which provides new COVID - 19 relief funds , additional funding under the Paycheck Protection Program ( the " PPP " ) and Non - GAAP metric . A reconciliation of this and other non - GAAP to GAAP performance measures included at the end of this document .