Exhibit 99.1

NEWS

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA – UNIVEST

BANK AND TRUST CO. – REPORTS SECOND QUARTER EARNINGS

SOUDERTON, Pa., July 25, 2012 – Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investments and small ticket leasing subsidiaries, today announced financial results for the quarter ended June 30, 2012. Univest reported net income of $4.8 million or $0.28 diluted earnings per share for the quarter ended June 30, 2012, a 5% increase in net income compared to $4.5 million or $0.27 diluted earnings per share for the quarter ended June 30, 2011. Net income for the six months ended June 30, 2012 was $10.0 million or $0.60 diluted earnings per share, compared to $8.4 million or $0.50 diluted earnings per share for the comparable period in the prior year.

Loans

Gross loans and leases increased $5.6 million from March 31, 2012, $19.0 million from December 31, 2011 and $26.7 million from June 30, 2011.The growth in loans occurred primarily in the commercial and residential mortgage categories. While the Corporation continued to see increased loan activity in the first six months of 2012, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the prolonged challenging economic environment.

Deposits

Total deposits increased $13.9 million from March 31, 2012, decreased $5.3 million from December 31, 2011 and increased $122.6 million from June 30, 2011. Deposits, excluding public funds, grew $38.1 million from March 31, 2012 and $102.1 million from June 30, 2011; the growth from December 31, 2011 of $51.2 million was offset by a decrease in public funds of $56.5 million. This continued growth, excluding public funds, was primarily due to new customers choosing Univest.

Net Interest Income and Margin

Net interest income decreased $834 thousand or 4% to $18.1 million in the second quarter of 2012 compared to the second quarter of 2011. The net interest margin on a tax-equivalent basis for the second quarter of 2012 was 3.97%, compared to 3.95% during the first quarter of 2012, and down from 4.24% in the second quarter of 2011. Net interest income decreased $1.5 million or 4% to $36.3 million for the six months ended June 30, 2012 compared to the same period in 2011. The net interest margin on a tax-equivalent basis for the six months ended June 30, 2012 was 3.96% compared to 4.24% for the six months ended June 30, 2011.

The declines in net interest income and the net interest margin were primarily due to the re-investment of maturing and called investment securities with 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. The decline in net interest income and the net interest margin was partially offset by re-pricing of certificates of deposits and savings account products. The net interest margin also declined from excess cash funds invested in low rate, interest-earning deposits as credit demand remains light and the Corporation continues to keep the investment portfolio short-term. Average year-to-date, interest-earning deposits with the Federal Reserve Bank increased $41.5 million from the comparable period in the prior year.

Non-Interest Income

Non-interest income for the quarter ended June 30, 2012 was $8.0 million, a decrease of $696 thousand or 8% from the comparable period in the prior year. The second quarter of 2012 included a fair value write-down on one other real estate owned property of $1.1 million based upon the current appraised value of the commercial property. During the second quarter of 2011, the net loss on sales and write-downs of other real estate owned was $265 thousand. Service charges on deposits declined $277 thousand during the second quarter of 2012 from the same period in 2011. This decline is primarily due to changes in industry practices to benefit consumers related to non-sufficient funds and overdraft fees, which were implemented in July 2011. In addition, the net gain on sales of securities was $24 thousand for the second quarter of 2012 compared to $569 thousand during the second quarter of 2011. Partially offsetting these unfavorable variances was an increase in the net gain on mortgage banking activities of $746 thousand which was primarily attributed to stronger mortgage demand from increased re-finance activity.

Non-interest income for the six months ended June 30, 2012 was $19.0 million, an increase of $2.6 million or 16% compared to $16.5 million for the six months ended June 30, 2011. The increase was primarily attributable to an increase in the net gain on mortgage banking activities of $2.0 million due to stronger mortgage demand from increased re-finance activity and proceeds from bank owned life insurance death benefits of $989 thousand recognized during the first quarter of 2012. These favorable variances were partially offset by an increase in the net loss on sales and write-downs of other real estate owned of $485 thousand and a decline in service charges on deposits of $513 thousand. The decline in service charges on deposits is primarily due to changes in industry practices to benefit consumers.

Non-Interest Expense

Non-interest expense for the second quarter of 2012 was $18.6 million, an increase of $2.2 million or 14% compared to the second quarter of 2011. Salaries and benefits expense increased $1.1 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives and annual performance increases. Additionally, non-interest expense increased due to higher advertising, loan workout and equipment expenses.

Non-interest expense for the six months ended June 30, 2012 was $37.5 million, an increase of $4.4 million or 13% compared to the six months ended June 30, 2011. Salaries and benefits expense increased $3.7 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives, annual performance increases and lower deferred loan origination costs. Additionally, non-interest expense increased due to higher loan workout and equipment expenses. The increases for the year-to-date were partially offset by a decline in deposit insurance premiums of $267 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 on the average consolidated total assets less average tangible equity.

Asset Quality and Provision for Loan and Lease Losses

Non-accrual loans and leases, including non-accrual troubled debt restructured loans, decreased to $36.8 million at June 30, 2012 from $38.2 million at December 31, 2011 and $43.5 million at June 30, 2011. The decrease in non-accrual loans was mainly due to charge-offs and pay-downs exceeding additions to non-accrual loans. Net loan and lease charge-offs were $1.4 million during the second quarter of 2012 compared to $5.8 million for the second quarter of 2011. For the six months ended June 30, 2012, net loan and lease charge-offs were $4.8 million compared to $9.0 million for the six months ended June 30, 2011. The decrease in net charge-offs was primarily due to a higher level of commercial real estate and commercial business loan charge-offs during the second quarter of 2011 related to several large credit relationships.

Nonperforming loans and leases as a percentage of total loans and leases were 3.05% at June 30, 2012 compared to 2.94% at December 31, 2011 and 3.42% at June 30, 2011. Other real estate owned decreased to $3.9 million, consisting of three properties at June 30, 2012, down from $6.6 million at December 31, 2011 and $5.0 million at June 30, 2011. During the second quarter of 2012, one commercial property was written down to its updated appraised value, resulting in an impairment charge of $1.1 million. During the first quarter of 2012, one commercial property with a carrying value of $1.3 million was sold for $1.5 million resulting in a gain on sale of $210 thousand.

The provision for loan and lease losses declined to $1.3 million for the second quarter of 2012 compared to $5.6 million for the quarter ended June 30, 2011. The decline in the provision was primarily the result of the migration and resolution of loans through the loan workout process and a decrease in historical loss factors for commercial real estate loans. The allowance for loan and lease losses as a percentage of total loans and leases was 2.08% at June 30, 2012 compared to 2.07% at December 31, 2011 and 2.27% at June 30, 2011. The allowance for loan and lease losses to nonperforming loans and leases equaled 68.18% at June 30, 2012, compared to 70.34% at December 31, 2011 and 66.26% at June 30, 2011.

Capital

Univest continues to remain well-capitalized at June 30, 2012. Univest’s total risk-based capital at June 30, 2012 was 15.64%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.

During the quarter, Univest deployed $386 thousand of capital to repurchase 24,816 shares of common stock through the stock repurchase program. Maximum shares available for future repurchases through the plan at June 30, 2012 was 541,929. Total shares outstanding at June 30, 2012 were 16,759,893.

Dividend

On July 2, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.75% 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.

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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, 2012

(Dollars in thousands)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

June 30, 2012

(Dollars in thousands, except per share data)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

June 30, 2012

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