Univest Corporation of Pennsylvania announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net interest income of $18,150,000 against $18,334,000 a year ago. Income before taxes was $6,434,000 against $6,609,000 a year ago. Net income was $5,076,000 or $0.30 per basic and diluted share against $5,260,000 or $0.32 per basic and diluted share a year ago. Return on average assets was 0.89% against 0.96% a year ago. Return on average shareholders equity was 7.04% against 7.56% a year ago. Book value per share was $16.95 against $16.34 per share a year ago. The declines in net interest income were primarily due to the re-investment of maturing and called investment securities into lower yielding investments as a result of the lower interest rate environment and lower rates on commercial loans due to re-pricing and competitive pressures.

For the year, the company reported net interest income of $72,480,000 against $74,740,000 a year ago. Income before taxes was $26,423,000 against $23,658,000 a year ago. Net income was $20,872,000 or $1.24 per basic and diluted share against $18,882,000 or $1.13 per basic and diluted share a year ago. Return on average assets was 0.95% against 0.89% a year ago. Return on average shareholders equity was 7.39% against 6.91% a year ago. Book value per share was $16.95 against $16.34 per share a year ago. The declines in net interest income were partially offset by re-pricing of certificates of deposit and savings account products.