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UVSP > SEC Filings for UVSP > Form 8-K on 27-Jan-2014All Recent SEC Filings

Show all filings for UNIVEST CORP OF PENNSYLVANIA | Request a Trial to NEW EDGAR Online Pro



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events

On January 27, 2014, Univest Corporation of Pennsylvania (the "Corporation"), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, completed the acquisition of Girard Partners, Ltd., a registered investment advisory firm with more than $500 million in assets under management.

The Corporation paid $5.6 million in cash at closing with additional contingent consideration to be paid in annual installments over the five-year period ending December 31, 2018 based on the achievement of certain levels of EBITDA (earnings before interest, taxes, depreciation and amortization). The potential cash payments that could result from the contingent consideration arrangement range from $0 to a maximum of $14.4 million cumulative over the next five years. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

  No.        Description of Document

99.1         Press release issued by Univest Corporation of Pennsylvania on January
             27, 2014

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