Exhibit 99.1

NEWS

CONTACT:		Jeff Schweitzer
		UNIVEST CORPORATION OF PENNSYLVANIA
		Chief Financial Officer
		215-721-2458, schweitzerj@univest.net

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA — UNIVEST
BANK AND TRUST CO. — REPORTS SECOND QUARTER EARNINGS

SOUDERTON, Pa., July 27, 2011 — Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest Bank and Trust Co., a full-service financial institution with 135 years of experience in delivering financial solutions including personal and business banking, online banking, residential mortgages, insurance products, investment and wealth advisory solutions, today announced financial results for the second quarter. Univest reported net income of $4.5 million or $0.27 diluted earnings per share for the quarter ended June 30, 2011, compared to $3.7 million or $0.23 diluted earnings per share for the comparable period in the prior year. Net income for the six months ended June 30, 2011 was $8.4 million or $0.50 diluted earnings per share, compared to $6.7 million or $0.40 diluted earnings per share for the comparable period in the prior year.

Deposits

Total deposits decreased $43.9 million for the quarter and $65.0 million year to date. The decrease was primarily a result of a decline of public fund balances due to anticipated seasonal runoff of tax deposits. Total public fund balances decreased $29.9 million for the quarter and $49.2 million for the first six months.

Loans

Gross loans and leases decreased $3.4 million from March 31, 2011 and $32.5 million from December 31, 2010, primarily due to continued light credit demand and utilization of lines by businesses and consumers as a result of the prolonged challenging and uncertain economic environment.

Net Interest Income and Margin

Net interest income increased $705 thousand or 3.86% to $19.0 million in the second quarter of 2011 compared to the second quarter of 2010. The net interest margin on a tax-equivalent basis for the second quarter of 2011 remained at 4.24% from the first quarter ended March 31, 2011 and increased 13 basis points compared to 4.11% in the second quarter 2010.

Net interest income of $37.8 million for the first six months ended June 30, 2011 increased $2.4 million or 6.81% compared to the six months ended June 30, 2010. The net interest margin on a tax-equivalent basis for the six months ended June 30, 2011 increased 19 basis points to 4.24% from 4.05% for the six months ended June 30, 2010.

The increases in the net interest income and the net interest margin year to date were a result of declines in the cost of interest-bearing liabilities, primarily time deposits. The increases were also attributed to declines in the volume of Federal Home Loan Bank (FHLB) borrowings, exceeding the declines in yields on total interest-earning assets. The Corporation repaid its maturing FHLB advances in 2010 reducing FHLB advances from $54 million at June 30, 2010 to $5 million at December 31, 2010. FHLB advances at June 30, 2011 remained at $5 million.

Non-Interest Income

For the quarter ended June 30, 2011, Univest reported total non-interest income of $8.7 million compared to $8.1 million for the comparable period in the prior year. This $637 thousand or 7.90% increase was mainly attributed to a $569 thousand net gain on sales of securities primarily from the sale of mortgage-backed securities. Other factors contributing to the overall increase were an increase in insurance commissions and fee income of $176 thousand and an increase in trust fee income of $125 thousand. The increase in non-interest income was partially offset by a $456 thousand decline in service charges on deposit accounts primarily due to the amendments to Regulation E which were implemented on August 15, 2010; and a $260 thousand negative valuation adjustment for an other real estate owned commercial property based on the updated fair value. Additionally, the second quarter of 2010 was impacted by a net loss on the ineffective portion of a fair value swap of $516 thousand, which was terminated in August, 2010.

Total non-interest income for the six months ended June 30, 2011 was $16.5 million compared to $16.3 million for the six months ended June 30, 2010. The increase of $189 thousand was a result of increases from the sale of securities of $482 thousand, trust fee income of $250 thousand, investment advisory commissions and fees of $148 thousand and insurance commissions and fees of $133 thousand. The increase was offset by a decline of $902 thousand of service charges on deposit accounts, mainly due to the amendments to Regulatory E which were implemented on August 15, 2010; a decline of $632 thousand of net gain on mortgage banking activities as a result of negative fair value adjustments on the mortgage pipeline, as mortgage demand has softened due to a continued slow purchase market for housing; a net change of $254 thousand attributed to fair value write-downs on other real estate owned commercial property; and a litigation settlement in the first quarter of 2010. Additionally, the six months ended June 30, 2010 was impacted by a net loss on the ineffective portion of a fair value swap of $826 thousand, which was terminated in August, 2010.

Non-Interest Expense

Non-interest expense for the second quarter of 2011 decreased $503 thousand or 3.00% compared to the second quarter of 2010 as a result of a decline in deposit insurance premiums of $236 thousand mainly due to the amended assessment calculation requirement through the FDIC rule implemented April 1, 2011. The payment was formerly based on deposits whereas the rule change now bases the payment off of the average consolidated total assets less average tangible equity. Additionally, the decrease was attributed to a $524 thousand decline in marketing and advertising expenses during the quarter. These decreases for the quarter were partially offset by premises and equipment expenses and increases in salaries and benefits.

For the six months ended June 30, 2011, non-interest expenses decreased $836 thousand or 2.46% compared to the same period in the prior year. This was attributed to a decline of $663 thousand in salaries and benefits as a result of higher deferred loan origination costs partially offset by higher commissions expense, restricted stock expense and salaries and benefits expense to grow the mortgage banking business. The Corporation implemented higher deferred loan origination costs commencing during the fourth quarter of 2010 based upon an in-depth study performed which incorporated management’s additional review time in connection with the loan approval process in the current environment. Additionally, the decrease was a result of a decline of $120 thousand in deposit insurance premiums and a $619 thousand decline in marketing and advertising expenses. These decreases were partially offset by an increase in premises and equipment expense.

Asset Quality and Provision for Loan and Lease Losses

Non-accrual loans and leases, including non-accrual troubled debt restructured loans, were $43.5 million at June 30, 2011 compared to $38.6 million at March 31, 2011 and $45.2 million at December 31, 2010. The increase in non-accrual loans was mainly due to the migration of one large Shared National Credit to a theatre to non-accrual status. This relationship represented $11.3 million in the aggregate of which $2.6 million was charged-off during the quarter and the remaining $8.7 million was moved to non-accrual with sufficient estimated collateral at June 30, 2011. The theatre continues to be open and operating. As a result of the $2.6 million charge-off, net loan and lease charge-offs increased from $3.2 million for the previous three months to $5.8 million at June 30, 2011. For the six months ended June 30, 2011, net loan and lease charge-offs were $9.0 million or 1.24% of average loans and leases compared to $5.4 million or 0.77% for the six months ended June 30, 2010.

Nonperforming loans and leases as a percentage of total loans and leases equaled 3.42% at June 30, 2011 compared to 3.07% at March 31, 2011 and 2.23% at June 30, 2010. Other real estate owned decreased from $6.1 million at March 31, 2011 to $5.0 million at June 30, 2011 due to the sale of one commercial property.

The provision for loan and lease losses was $5.6 million for the second quarter of 2011 compared to $5.1 million for the quarter ended March 31, 2011 and $4.9 million for the quarter ended June 30, 2010. The allowance for loan and lease losses as a percentage of total loans and leases for both the first and second quarters of 2011 was 2.27% compared to 2.01% at June 30, 2010. The allowance for loan and lease losses to nonperforming loans and leases equaled 66.26% at June 30, 2011, which declined from 74.12% at March 31, 2011. The allowance for loan and lease losses to nonperforming loans and leases was 90.08% at June 30, 2010.

Capital

Univest continues to remain well-capitalized at June 20, 2011. Univest’s total risk-based capital at June 30, 2011 was 16.25%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.

Dividend

On July 1, 2011, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.96% annualized yield based on the closing price of Univest’s stock on the date the dividend was paid.

About Univest Corporation

Headquartered in Souderton, Pa., Univest Corporation of Pennsylvania (www.univest.net) and its subsidiaries serve the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery and Lehigh counties. For more information on Univest Corporation of Pennsylvania and its subsidiaries, please visit www.univest.net.

# # #

This press release of Univest Corporation and the reports Univest Corporation files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Univest Corporation. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Univest Corporation’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce net interest margins; (3) changes in prepayment speeds, loan sale volumes, charge-offs and loan loss provisions; (4) general economic conditions; (5) legislative or regulatory changes that may adversely affect the businesses in which Univest Corporation is engaged; (6) technological issues which may adversely affect Univest Corporation’s financial operations or customers; (7) changes in the securities markets or (8) risk factors mentioned in the reports and registration statements Univest Corporation files with the Securities and Exchange Commission. Univest Corporation undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
June 30, 2011

(Dollars in thousands)

Balance Sheet (Period End)		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10
Assets		$	2,058,377			$	2,108,579			$	2,133,893			$	2,114,204			$	2,088,572
Securities			418,020				445,798				467,024				420,998				434,677
Loans held for sale			2,102				1,451				4,178				3,801				2,485
Loans and leases, gross			1,438,707				1,442,137				1,471,186				1,467,382				1,449,147
Allowance for loan and lease losses			32,601				32,804				30,898				28,883				29,109
Loans and leases, net			1,406,106				1,409,333				1,440,288				1,438,499				1,420,038
Total deposits			1,621,294				1,665,225				1,686,270				1,677,641				1,609,772
Non-interest bearing deposits			277,515				280,337				271,125				272,805				255,880
NOW, Money Market and Savings			967,554				974,158				997,395				969,254				924,242
Time deposits			376,225				410,730				417,750				435,582				429,650
Borrowings			127,689				125,545				143,865				128,905				171,824
Shareholders’ equity			273,022				268,673				266,224				270,773				269,524

		For the three months ended,																				For the six months ended,
Balance Sheet (Average)		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10				06/30/11				06/30/10
Assets		$	2,096,173			$	2,106,276			$	2,125,112			$	2,117,708			$	2,090,930			$	2,101,074			$	2,064,970
Securities			439,606				444,662				449,031				431,193				442,902				442,120				426,138
Loans and leases, gross			1,451,076				1,461,037				1,461,766				1,459,820				1,425,278				1,456,029				1,423,066
Deposits			1,655,812				1,670,062				1,689,701				1,642,613				1,606,621				1,662,899				1,572,338
Shareholders’ equity			272,952				268,343				271,945				271,045				269,902				270,661				269,469

Asset Quality Data (Period End)		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10
Nonaccrual loans and leases, including nonaccrual troubled debt restructured loans and leases		$	43,513			$	38,631			$	45,232			$	33,043			$	29,541
Accruing loans and leases 90 days or more past due			659				516				696				899				1,276
Accruing troubled debt restructured loans and leases			5,028				5,111				550				813				1,499
Other real estate owned			4,952				6,135				2,438				1,557				1,827
Nonperforming assets			54,152				50,393				48,916				36,312				34,143
Allowance for loan and lease losses			32,601				32,804				30,898				28,883				29,109
Nonperforming loans and leases / Loans and leases			3.42	%			3.07	%			3.16	%			2.37	%			2.23	%
Allowance for loan and lease losses / Loans and leases			2.27	%			2.27	%			2.10	%			1.97	%			2.01	%
Allowance for loan and lease losses / Nonperforming loans			66.26	%			74.12	%			66.48	%			83.10	%			90.08	%

		For the three months ended,																				For the six months ended
		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10				06/30/11				06/30/10
Net loan and lease charge-offs		$	5,759			$	3,228			$	4,261			$	5,755			$	2,821			$	8,987			$	5,449
Net loan and lease charge-offs (annualized)/Average loans and leases			1.59	%			0.90	%			1.16	%			1.56	%			0.79	%			1.24	%			0.77	%

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
June 30, 2011

(Dollars in thousands, except per share data)

		For the three months ended,																				For the six months ended,
For the period:		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10				06/30/11				06/30/10
Interest income		$	21,704			$	21,706			$	22,580			$	23,060			$	22,878			$	43,410			$	45,363
Interest expense			2,723				2,897				3,380				4,107				4,602				5,620				9,982
Net interest income			18,981				18,809				19,200				18,953				18,276				37,790				35,381
Provision for loan and lease losses			5,556				5,134				6,276				5,529				4,865				10,690				9,760
Net interest income after provision			13,425				13,675				12,924				13,424				13,411				27,100				25,621
Noninterest income:
Trust fee income			1,625				1,625				1,630				1,450				1,500				3,250				3,000
Service charges on deposit accounts			1,356				1,336				1,466				1,633				1,812				2,692				3,594
Investment advisory commission and fee income			1,194				1,162				1,191				1,227				1,152				2,356				2,208
Insurance commissions and fee income			2,072				2,200				1,740				1,815				1,896				4,272				4,139
Bank owned life insurance income			268				344				410				326				202				612				534
Other-than-temporary impairment			(3	)			(7	)			(3	)			(12	)			(42	)			(10	)			(47	)
Net gain on sales of securities			569				—				6				339				38				569				87
Net gain (loss) on mortgage banking activities			328				(25	)			779				1,246				475				303				935
Net loss on interest rate swap			—				—				—				(246	)			(516	)			—				(826	)
Other income			1,287				1,124				2,049				1,106				1,542				2,411				2,642
Total noninterest income			8,696				7,759				9,268				8,884				8,059				16,455				16,266
Noninterest expense
Salaries and benefits			9,634				8,983				8,979				9,775				9,469				18,617				19,280
Premises and equipment			2,326				2,527				2,351				2,435				2,209				4,853				4,501
Deposit insurance premiums			427				713				712				698				663				1,140				1,260
Other expense			4,019				4,523				4,148				4,263				4,568				8,542				8,947
Total noninterest expense			16,406				16,746				16,190				17,171				16,909				33,152				33,988
Income before taxes			5,715				4,688				6,002				5,137				4,561				10,403				7,899
Applicable income taxes			1,199				826				1,093				990				831				2,025				1,199
Net income		$	4,516			$	3,862			$	4,909			$	4,147			$	3,730			$	8,378			$	6,700
Per Common Share Data:
Book value per share		$	16.27			$	16.04			$	15.99			$	16.29			$	16.25			$	16.27			$	16.25
Net income per share:
Basic		$	0.27			$	0.23			$	0.30			$	0.25			$	0.23			$	0.50			$	0.40
Diluted		$	0.27			$	0.23			$	0.30			$	0.25			$	0.23			$	0.50			$	0.40
Dividends per share		$	0.20			$	0.20			$	0.20			$	0.20			$	0.20			$	0.40			$	0.40
Weighted average shares outstanding			16,771,969				16,712,282				16,645,115				16,621,291				16,589,657				16,742,434				16,562,712
Period end shares outstanding			16,777,379				16,745,935				16,648,303				16,626,900				16,590,710				16,777,379				16,590,710

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
June 30, 2011

		For the three months ended,																				For the six months ended,
		06/30/11				03/31/11				12/31/10				09/30/10				06/30/10				06/30/11				06/30/10
Profitability Ratios (annualized)
Return on average assets			0.86	%			0.74	%			0.92	%			0.78	%			0.72	%			0.80	%			0.65	%
Return on average shareholders’ equity			6.64	%			5.84	%			7.16	%			6.07	%			5.54	%			6.24	%			5.01	%
Net interest margin (FTE)			4.24	%			4.24	%			4.18	%			4.15	%			4.11	%			4.24	%			4.05	%
Efficiency ratio (1)			56.47	%			59.90	%			54.20	%			58.88	%			61.32	%			58.15	%			62.80	%
Capitalization Ratios
Dividends paid to net income			74.27	%			86.30	%			67.85	%			80.15	%			88.95	%			79.82	%			98.97	%
Shareholders’ equity to assets (Period End)			13.26	%			12.74	%			12.48	%			12.81	%			12.90	%			13.26	%			12.90	%
Tangible common equity to tangible assets			10.80	%			10.32	%			10.08	%			10.46	%			10.51	%			10.80	%			10.51	%
Regulatory Capital Ratios (Period End)
Tier 1 leverage ratio			11.87	%			11.72	%			11.54	%			11.51	%			11.57	%			11.87	%			11.57	%
Tier 1 risk-based capital ratio			14.96	%			14.59	%			14.17	%			14.14	%			14.25	%			14.96	%			14.25	%
Total risk-based capital ratio			16.25	%			15.89	%			15.47	%			15.45	%			15.58	%			16.25	%			15.58	%

(1)		Total operating expenses to net interest income before loan loss provision plus non-interest income adjusted for tax equivalent income.

Distribution of Assets, Liabilities and Shareholders’ Equity: Interest Rates and Interest Differential

		For the Three Months Ended June 30,
		2011												2010
		Average				Income/				Average				Average				Income/				Average
Tax Equivalent Basis		Balance				Expense				Rate				Balance				Expense				Rate
Assets:
Interest-earning deposits with other banks		$	19,401			$	12				0.25	%		$	26,700			$	19				0.29	%
U.S. Government obligations			153,239				639				1.67				158,505				922				2.33
Obligations of state and political subdivisions			110,187				1,712				6.23				108,820				1,803				6.65
Other debt and equity securities			176,180				1,527				3.48				175,577				1,933				4.42
Total interest-earning deposits and investments			459,007				3,890				3.40				469,602				4,677				3.99
Commercial, financial, and agricultural loans			431,427				4,947				4.60				415,943				4,892				4.72
Real estate—commercial and construction loans			541,862				7,399				5.48				523,306				7,752				5.94
Real estate—residential loans			245,996				2,757				4.50				256,296				2,785				4.36
Loans to individuals			41,924				597				5.71				46,185				599				5.20
Municipal loans and leases			128,799				1,680				5.23				104,720				1,564				5.99
Lease financings			61,068				1,667				10.96				78,828				1,742				8.86
Gross loans and leases			1,451,076				19,047				5.26				1,425,278				19,334				5.44
Total interest-earning assets			1,910,083				22,937				4.82				1,894,880				24,011				5.08
Cash and due from banks			29,706												37,510
Reserve for loan and lease losses			(33,995	)											(28,864	)
Premises and equipment, net			34,302												35,002
Other assets			156,077												152,402
Total assets		$	2,096,173											$	2,090,930
Liabilities:
Interest-bearing checking deposits		$	210,487			$	59				0.11			$	182,156			$	62				0.14
Money market savings			277,420				174				0.25				293,697				277				0.38
Regular savings			481,312				374				0.31				445,781				661				0.59
Time deposits			405,829				1,683				1.66				435,969				2,588				2.38
Total time and interest-bearing deposits			1,375,048				2,290				0.67				1,357,603				3,588				1.06
Securities sold under agreements to repurchase			101,093				78				0.31				98,802				111				0.45
Other short-term borrowings			3,498				2				0.23				51,936				542				4.19
Long-term debt			5,000				47				3.77				5,717				48				3.37
Subordinated notes and capital securities			23,619				306				5.20				25,119				313				5.00
Total borrowings			133,210				433				1.30				181,574				1,014				2.24
Total interest-bearing liabilities			1,508,258				2,723				0.72				1,539,177				4,602				1.20
Demand deposits, non-interest bearing			280,764												249,018
Accrued expenses and other liabilities			34,199												32,833
Total liabilities			1,823,221												1,821,028
Shareholders’ Equity
Common stock			91,332												91,332
Additional paid-in capital			61,469												61,420
Retained earnings and other equity			120,151												117,150
Total shareholders’ equity			272,952												269,902
Total liabilities and shareholders’ equity		$	2,096,173											$	2,090,930
Net interest income						$	20,214											$	19,409
Net interest spread											4.10												3.88
Effect of net interest-free funding sources											0.14												0.23
Net interest margin											4.24	%											4.11	%
Ratio of average interest-earning assets to average interest-bearing liabilities			126.64	%											123.11	%

Notes:		For rate calculation purposes, average loan and lease categories include unearned discount.
		Nonaccrual loans and leases have been included in the average loan and lease balances.
		Loans held for sale have been included in the average loan balances.
		Tax-equivalent amounts for the three months ended June 30, 2011 and 2010 have been calculated using the Corporation’s federal applicable rate of 35.0%.

Distribution of Assets, Liabilities and Shareholders’ Equity: Interest Rates and Interest Differential

		For the Six Months Ended June 30,
		2011												2010
		Average				Income/				Average				Average				Income/				Average
Tax Equivalent Basis		Balance				Expense				Rate				Balance				Expense				Rate
Assets:
Interest-earning deposits with other banks		$	12,876			$	15				0.23	%		$	20,531			$	30				0.29	%
U.S. Government obligations			161,900				1,356				1.69				136,457				1,663				2.46
Obligations of state and political subdivisions			109,610				3,433				6.32				107,733				3,543				6.63
Other debt and equity securities			170,610				3,056				3.61				181,948				3,953				4.38
Total interest-earning deposits and investments			454,996				7,860				3.48				446,669				9,189				4.15
Commercial, financial, and agricultural loans			430,039				10,118				4.74				412,820				9,557				4.67
Real estate—commercial and construction loans			550,038				14,650				5.37				523,693				15,314				5.90
Real estate—residential loans			245,155				5,398				4.44				258,615				5,643				4.40
Loans to individuals			42,464				1,223				5.81				46,843				1,397				6.01
Municipal loans and leases			125,656				3,411				5.47				101,104				2,989				5.96
Lease financings			62,677				3,185				10.25				79,991				3,465				8.74
Gross loans and leases			1,456,029				37,985				5.26				1,423,066				38,365				5.44
Total interest-earning assets			1,911,025				45,845				4.84				1,869,735				47,554				5.13
Cash and due from banks			32,886												34,582
Reserve for loan and lease losses			(33,203	)											(27,728	)
Premises and equipment, net			34,462												34,931
Other assets			155,904												153,450
Total assets		$	2,101,074											$	2,064,970
Liabilities:
Interest-bearing checking deposits		$	201,630			$	123				0.12			$	177,095			$	119				0.14
Money market savings			293,022				375				0.26				286,843				593				0.42
Regular savings			481,358				837				0.35				430,940				1,442				0.67
Time deposits			408,416				3,421				1.69				435,072				5,654				2.62
Total time and interest-bearing deposits			1,384,426				4,756				0.69				1,329,950				7,808				1.18
Securities sold under agreements to repurchase			98,782				149				0.30				97,330				228				0.47
Other short-term borrowings			6,865				11				0.32				61,547				1,227				4.02
Long-term debt			5,000				94				3.79				5,732				94				3.31
Subordinated notes and capital securities			23,805				610				5.17				25,305				625				4.98
Total borrowings			134,452				864				1.30				189,914				2,174				2.31
Total interest-bearing liabilities			1,518,878				5,620				0.75				1,519,864				9,982				1.32
Demand deposits, non-interest bearing			278,473												242,388
Accrued expenses and other liabilities			33,062												33,249
Total liabilities			1,830,413												1,795,501
Shareholders’ Equity
Common stock			91,332												91,332
Additional paid-in capital			61,441												61,420
Retained earnings and other equity			117,888												116,717
Total shareholders’ equity			270,661												269,469
Total liabilities and shareholders’ equity		$	2,101,074											$	2,064,970
Net interest income						$	40,225											$	37,572
Net interest spread											4.09												3.81
Effect of net interest-free funding sources											0.15												0.24
Net interest margin											4.24	%											4.05	%
Ratio of average interest-earning assets to average interest-bearing liabilities			125.82	%											123.02	%

Notes:		For rate calculation purposes, average loan and lease categories include unearned discount.
		Nonaccrual loans and leases have been included in the average loan and lease balances.
		Loans held for sale have been included in the average loan balances.
		Tax-equivalent amounts for the six months ended June 30, 2011 and 2010 have been calculated using the Corporation’s federal applicable rate of 35.0%.