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UNIVEST CORPORATION -- UNION NATIONAL AND PENNVIEW SAVINGS BANKS -- ANNOUNCES SECOND QUARTER EARNINGS

 SOUDERTON, Pa., July 28 /PRNewswire/ -- Univest Corporation of Pennsylvania (OTC Bulletin Board: UVSP), parent company of Union National Bank and Pennview Savings Bank, has reported net operating income, after provision for loan loss reserve, of $4,307,890 or $1.37 per share for the second quarter of 1993, reflecting a 2.9 percent increase over the same period last year.
 A cumulative change in accounting principle reduced net income for 1993 to $3,737,511 or $1.19 per share. Earlier, Univest Corp announced a shareholder cash dividend of $.14 per share for the second quarter of 1993.
 Univest Corp and its subsidiaries, Union National and Pennview Savings banks, offer financial services and support to 16 communities in Montgomery and Bucks counties.
 UNIVEST CORPORATION
 Financial Summary Highlights
 June 1993 June 1992 Percent Change
 Second Quarter
 Net interest income $15,549,299 $14,531,063 7.0
 Provision for loan
 losses 1,290,000 1,147,500 12.4
 Net interest income
 after provision for
 loan losses 14,259,299 13,383,563 6.5
 Net income before
 change in
 accounting principle 4,307,890 4,188,221 2.9
 Cumulative effect
 of change in
 accounting principle (570,379) --- ---
 Net income 3,737,511 4,188,221 (10.8)
 Earnings per share
 before accounting change $1.37 $1.34 2.2
 Earnings per share
 after accounting change 1.19 1.34 (11.2)
 Total assets $793,905,181 $773,731,690 2.6
 Total net worth 69,141,204 63,232,821 9.3
 Total deposits 663,977,686 660,135,292 0.6
 /delval/
 -0- 7/28/93
 /CONTACT: Merrill S. Moyer, chairman and president, 215-721-2460, or Harry L. Wurster, 215-721-2521, or after hours, 215-256-8383, both of Univest Corp/
 (UVSP)


CO: Univest Corporation of Pennsylvania ST: Pennsylvania IN: FIN SU: ERN

LJ-MK -- PH005 -- 6654 07/28/93 09:23 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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