Brief: Univest Financial Corporation Announces Financial Center Optimization Plan

Univest Financial

19/10/2020 21:18

Oct 19 (Reuters) - Univest Financial Corp  UVSP.O :
    * UNIVEST FINANCIAL CORPORATION ANNOUNCES FINANCIAL CENTER
OPTIMIZATION PLAN
    * UNIVEST FINANCIAL CORP - ANNOUNCED CONSOLIDATION OR
RELOCATION
OF EIGHT LOCATIONS, OR 20% OF FINANCIAL CENTERS
    * UNIVEST FINANCIAL CORP - PRE-TAX ONE-TIME COSTS ASSOCIATED
WITH
THE PLAN ESTIMATED TO BE $1.7 MILLION
    * UNIVEST FINANCIAL CORP - PRE-TAX ONE-TIME COSTS FOR THE
PLAN
WILL PRIMARILY BE RECOGNIZED IN Q4 2020
    * UNIVEST FINANCIAL -ESTIMATED PRE-TAX ANNUALIZED SAVINGS
RELATED
TO OPTIMIZATION PLAN WILL BE ABOUT $2.4 MILLION

Source text for Eikon:  ID:nGNX5PZdpr 
Further company coverage:  UVSP.O 

 ((Reuters.Briefs@thomsonreuters.com;))