Exhibit 99.1

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

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA — UNIVEST NATIONAL
BANK AND TRUST CO. — REPORTS FOURTH QUARTER AND YEAR END EARNINGS

SOUDERTON, Pa., January 26, 2011 — Univest Corporation of Pennsylvania (NASDAQ: UVSP), 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, investments and wealth advisory solutions, today announced financial results for the fourth quarter and year ended December 31, 2010. Univest reported net income of $4.9 million or $0.30 diluted earnings per share for the quarter ended December 31, 2010, compared to net income of $1.5 million or $0.09 diluted earnings per share for the quarter ended December 31, 2009.

For the year ended December 31, 2010, Univest reported net income of $15.8 million or $0.95 diluted earnings per share compared to net income of $10.8 million or $0.75 diluted earnings per share reported for the year ended December 31, 2009.

Deposits

Total non-time deposits increased $26.5 million during the quarter and have increased $154.8 million year over year. These increases were offset by a decline in time deposits of $17.8 million for the three months ended December 31, 2010 and $32.8 million for the twelve months ended December 31, 2010.

Loans

Gross loans and leases increased $3.8 million during the quarter and $45.2 million for the twelve months ended December 31, 2010. While overall loan demand remains light primarily due to less credit demand and utilization of lines by businesses responding to the current economic environment, Univest continues to secure new loan opportunities due to the previously mentioned disruption in local markets and increased visibility as a result of a brand campaign designed to fuel loan growth.

Net Interest Income and Margin

Net interest income increased $2.4 million or 14.5% to $19.2 million in the fourth quarter of 2010 and increased year over year by $5.9 million or 8.7% to $73.5 million. The net interest margin on a tax-equivalent basis for the fourth quarter of 2010 increased 49 basis points to 4.18% compared to 3.69% for the fourth quarter of 2009. For the year ended December 31, 2010, net interest margin on a tax-equivalent basis increased 32 basis points to 4.11% compared to 3.79% for the prior year.

The increases in net interest income and net interest margin for the quarter and year can be attributed to declines in the cost of interest-bearing liabilities, primarily time deposits and Federal Home Loan Bank (FHLB) borrowings, exceeding the declines in yields on total interest-earnings assets. The Corporation has continued to experience core deposit growth which has allowed the Corporation to continue to repay its maturing FHLB advances which were $92 million at December 31, 2009 and $5 million at December 31, 2010.

Non-Interest Income

Total non-interest income increased by $449 thousand or 5.09% to $9.3 million for the quarter compared to $8.8 million for the quarter ended December 31, 2009. This increase was primarily due to increased trust fee income of $169 thousand; investment advisory commission and fee income of $166 thousand; insurance commission and fee income of $226 thousand; and other income of $1.1 million, primarily due to increases in interchange fee income and favorable valuation adjustments on mortgage servicing rights. During the quarter, the Corporation reversed $412 thousand of negative valuation adjustments on mortgage servicing rights recorded during the third quarter as interest rates increased during the quarter which in turn slowed down pre-payment speeds on mortgages serviced by the Corporation. Additionally, the fourth quarter of 2009 was impacted by $761 thousand of other-than-temporary impairment charges on certain bank equity securities and other long-lived assets compared to $3 thousand in the fourth quarter of 2010. These favorable variances were partially offset by a reduction in the net gain on sales of securities of $1.0 million and a $447 thousand net gain on the interest rate swap recorded during the fourth quarter of 2009.

Non-interest income was negatively impacted during the fourth quarter as a result of the challenging economic climate and increased regulatory requirements. The negative affects from the implementation of Regulation E on August 15, 2010, which requires customers to opt-in for overdraft protection on debit card and point of sale transactions, were realized for the first time for an entire quarter, significantly contributing to the decline of $520 thousand on Univest’s service charges on deposit accounts compared to the fourth quarter of the prior year.

Total non-interest income for the year ended December 31, 2010 increased $4.5 million or 15.04% to $34.4 million compared to $29.9 million for the year ended December 31, 2009. This increase was due to increased trust fee income of $544 thousand; investment advisory commission and fee income of $1.2 million; insurance commissions and fee income of $613 thousand; net gain on mortgage banking activities of $582 thousand and other income of $2.2 million, primarily related to interchange fee income; a litigation settlement during the first quarter of 2010; mortgage servicing fee income; and gains on the sales of terminated leases. Additionally, the increase resulted from a decline by $2.1 million in other-than-temporary impairment charges.

These increases were offset by a decline in service charges on deposit accounts in part due to Regulation E of $343 thousand, a reduction in the net gain on sales of securities of $718 thousand and a loss of $1.1 million related to a fair value write-down on an interest rate swap for a commercial real estate loan due to the decline in interest rates during the year. The swap was terminated during August 2010 due to the forecasted low interest rate environment.

Non-Interest Expense

Non-interest expense for the fourth quarter of 2010 decreased $1.3 million or 7.32% to $16.2 million, primarily due to a decline of $776 thousand in salaries and benefits as a result of reduced pension plan expenses and a change in the valuation of the Corporation’s non-qualified pension plans of $433 thousand. This was partially offset by additional staffing to support additional personnel to grow the commercial lending and mortgage banking businesses.

Non-interest expense increased $2.0 million, or 3.10% for the year ended December 31, 2010. Salaries and benefits increased $612 thousand as a result of additional personnel to grow the commercial lending and mortgage banking businesses and higher restricted stock expense partially offset by reduced pension plan expenses. Equipment expense increased $373 thousand and marketing and advertising expenses increased $478 thousand during the year primarily to support a major brand campaign to position the Corporation to take advantage of the disruption in the local markets. Other expenses increased primarily due to increased legal fees resulting from non-performing loan activity and increased audit and interchange expenses.

Asset Quality and Provision for Loan and Lease Losses

Non-accrual loans and leases were $45.2 million at December 31, 2010 compared to $33.0 million at September 30, 2010 and $33.5 million at December 31, 2009. Nonperforming loans and leases as a percentage of total loans and leases equaled 3.16% at December 31, 2010 compared to 2.37% at September 30, 2010 and 2.65% at December 31, 2009. The increase in non-accrual loans was primarily due to the migration of four relationships to non-accrual status. These relationships were not concentrated in any one industry and consisted of hotel/office space; investment commercial real estate; a construction company; and a manufacturing company.

Net loan and lease charge-offs for the quarter were $4.3 million compared to $5.8 million for the previous three months. For the year ended December 31, 2010, net loan and lease charge-offs were $15.5 million or 1.07% of average loans and leases compared to $9.2 million or 0.63% for the year ended December 31, 2009.

The provision for loan and lease losses was $6.3 million for the fourth quarter of 2010 compared to $5.5 million for the third quarter of 2010 and $7.4 million for the corresponding quarter in the prior year. For the year ended December 31, 2010, the provision for loan and lease losses was $21.6 million compared to $20.9 million for the prior year. The increase in the provision is due to the migration of loans to higher-risk ratings as a result of deterioration of underlying collateral and economic factors.

As a result of the increased provision, the allowance for loan and lease losses as a percentage of total loans and leases increased to 2.10% at December 31, 2010 from 1.97% at September 30, 2010 and 1.74% at December 31, 2009. The allowance for loan and lease losses to nonperforming loans and leases equaled 66.48% at December 31, 2010 which decreased from 83.10% at September 30, 2010. The allowance for loan and lease losses to nonperforming loans and leases was 65.54% at December 31, 2009.

Capital

Univest continues to remain well-capitalized at December 31, 2010. Univest’s total risk-based capital at December 31, 2010 was 15.47%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.

Dividend

On January 3, 2011, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.05% 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
December 31, 2010

(Dollars in thousands)

Balance Sheet (Period End)		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09
Assets		$	2,133,893			$	2,114,204			$	2,088,572			$	2,064,822			$	2,085,421
Securities			467,024				420,998				434,677				436,368				420,045
Loans held for sale			4,178				3,801				2,485				1,165				1,693
Loans and leases, gross			1,471,186				1,467,382				1,449,147				1,427,805				1,425,980
Allowance for loan and lease losses			30,898				28,883				29,109				27,065				24,798
Loans and leases, net			1,440,288				1,438,499				1,420,038				1,400,740				1,401,182
Total deposits			1,686,270				1,677,641				1,609,772				1,572,681				1,564,257
Non-interest bearing deposits			271,125				272,805				255,880				246,909				242,691
NOW, Money Market and Savings			997,395				969,254				924,242				894,799				871,024
Time deposits			417,750				435,582				429,650				430,973				450,542
Borrowings			143,865				128,905				171,824				187,637				214,063
Shareholders’ equity			266,224				270,773				269,524				267,850				267,807

		For the three months ended,																				For the twelve months ended,
Balance Sheet (Average)		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09				12/31/10				12/31/09
Assets		$	2,125,112			$	2,117,708			$	2,090,930			$	2,038,739			$	2,096,945			$	2,093,422			$	2,083,447
Securities			449,031				431,193				442,902				409,188				454,097				433,182				433,980
Loans and leases, gross			1,461,766				1,459,820				1,425,278				1,420,830				1,438,880				1,442,085				1,453,174
Deposits			1,689,701				1,642,613				1,606,621				1,537,676				1,553,308				1,619,634				1,554,230
Shareholders’ equity			271,945				271,045				269,902				269,030				267,644				270,490				230,395

Asset Quality Data (Period End)		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09
Nonaccrual loans and leases		$	45,232			$	33,043			$	29,541			$	34,856			$	33,498
Accruing loans and leases 90 days or more past due			696				899				1,276				303				726
Troubled debt restructured			550				813				1,499				1,691				3,611
Other real estate owned			2,438				1,557				1,827				2,453				3,428
Nonperforming assets			48,916				36,312				34,143				39,303				41,263
Allowance for loan and lease losses			30,898				28,883				29,109				27,065				24,798
Nonperforming loans and leases / Loans and leases			3.16	%			2.37	%			2.23	%			2.58	%			2.65	%
Allowance for loan and lease losses / Loans and leases			2.10	%			1.97	%			2.01	%			1.90	%			1.74	%
Allowance for loan and lease losses / Nonperforming loans			66.48	%			83.10	%			90.08	%			73.45	%			65.54	%

		For the three months ended,																				For the twelve months ended,
		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09				12/31/10				12/31/09
Net loan and lease charge-offs		$	4,261			$	5,755			$	2,821			$	2,628			$	4,595			$	15,465			$	9,206
Net loan and lease charge-offs (annualized)/Average loans and leases			1.16	%			1.56	%			0.79	%			0.75	%			1.27	%			1.07	%			0.63	%

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
December 31, 2010

(Dollars in thousands, except per share data)

		For the three months ended,																				For the twelve months ended,
For the period:		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09				12/31/10				12/31/09
Interest income		$	22,580			$	23,060			$	22,878			$	22,485			$	23,184			$	91,003			$	96,359
Interest expense			3,380				4,107				4,602				5,380				6,409				17,469				28,723
Net interest income			19,200				18,953				18,276				17,105				16,775				73,534				67,636
Provision for loan and lease losses			6,276				5,529				4,865				4,895				7,449				21,565				20,886
Net interest income after provision			12,924				13,424				13,411				12,210				9,326				51,969				46,750
Noninterest income:
Trust fee income			1,630				1,450				1,500				1,500				1,461				6,080				5,536
Service charges on deposit accounts			1,466				1,633				1,812				1,782				1,986				6,693				7,036
Investment advisory commission and fee income			1,191				1,227				1,152				1,056				1,025				4,626				3,427
Insurance commissions and fee income			1,740				1,815				1,896				2,243				1,514				7,694				7,081
Bank owned life insurance income			410				326				202				332				351				1,270				1,321
Other-than-temporary impairment			(3	)			(12	)			(42	)			(5	)			(761	)			(62	)			(2,208	)
Net gain (loss) on sales of securities			6				339				38				49				1,023				432				1,150
Net gain on mortgage banking activities			779				1,246				475				460				847				2,960				2,378
Net (loss) gain on interest rate swap			—				(246	)			(516	)			(310	)			447				(1,072	)			641
Other income			2,049				1,106				1,542				1,100				926				5,797				3,555
Total noninterest income			9,268				8,884				8,059				8,207				8,819				34,418				29,917
Noninterest expense
Salaries and benefits			8,979				9,775				9,469				9,811				9,755				38,034				37,422
Premises and equipment			2,351				2,435				2,209				2,292				2,138				9,287				8,712
Deposit insurance premiums			712				698				663				597				599				2,670				3,185
Other expense			4,148				4,263				4,568				4,379				4,976				17,358				16,005
Total noninterest expense			16,190				17,171				16,909				17,079				17,468				67,349				65,324
Income before taxes			6,002				5,137				4,561				3,338				677				19,038				11,343
Applicable income taxes			1,093				990				831				368				(845	)			3,282				563
Net income		$	4,909			$	4,147			$	3,730			$	2,970			$	1,522			$	15,756			$	10,780
Per Common Share Data:
Book value per share		$	15.99			$	16.29			$	16.25			$	16.17			$	16.27			$	15.99			$	16.27
Net income per share:
Basic		$	0.30			$	0.25			$	0.23			$	0.18			$	0.09			$	0.95			$	0.75
Diluted		$	0.30			$	0.25			$	0.23			$	0.18			$	0.09			$	0.95			$	0.75
Dividends per share		$	0.20			$	0.20			$	0.20			$	0.20			$	0.20			$	0.80			$	0.80
Weighted average shares outstanding			16,645,115				16,621,291				16,589,657				16,535,461				16,464,824				16,598,284				14,347,104
Period end shares outstanding			16,648,303				16,626,900				16,590,710				16,561,807				16,465,083				16,648,303				16,465,083

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
December 31, 2010

		For the three months ended,																				For the twelve months ended,
		12/31/10				09/30/10				06/30/10				03/31/10				12/31/09				12/31/10				12/31/09
Profitability Ratios (annualized)
Return on average assets			0.92	%			0.78	%			0.72	%			0.59	%			0.29	%			0.75	%			0.52	%
Return on average shareholders’ equity			7.16	%			6.07	%			5.54	%			4.48	%			2.26	%			5.82	%			4.68	%
Net interest margin (FTE)			4.18	%			4.15	%			4.11	%			3.99	%			3.69	%			4.11	%			3.79	%
Efficiency ratio (1)			54.20	%			58.88	%			61.32	%			64.33	%			65.35	%			59.52	%			63.88	%
Capitalization Ratios
Dividends paid to net income			67.85	%			80.15	%			88.95	%			111.55	%			216.43	%			84.31	%			109.33	%
Shareholders’ equity to assets (Period End)			12.48	%			12.81	%			12.90	%			12.97	%			12.84	%			12.48	%			12.84	%
Tangible common equity to tangible assets			10.08	%			10.46	%			10.51	%			10.55	%			10.44	%			10.08	%			10.44	%
Regulatory Capital Ratios (Period End)
Tier 1 leverage ratio			11.54	%			11.51	%			11.57	%			11.82	%			11.46	%			11.54	%			11.46	%
Tier 1 risk-based capital ratio			14.17	%			14.14	%			14.25	%			14.44	%			14.41	%			14.17	%			14.41	%
Total risk-based capital ratio			15.47	%			15.45	%			15.58	%			15.78	%			15.76	%			15.47	%			15.76	%

Distribution of Assets, Liabilities and Shareholders’ Equity: Interest Rates and Interest Differential
		For the Three Months Ended December 31,
		2010												2009
		Average				Income/				Average				Average				Income/				Average
Tax Equivalent Basis		Balance				Expense				Rate				Balance				Expense				Rate
Assets:
Interest-earning deposits with other banks		$	24,975			$	22				0.35	%		$	11,706			$	8				0.27	%
U.S. Government obligations			176,910				829				1.86				126,261				864				2.71
Obligations of state and political subdivisions			109,902				1,718				6.20				107,722				1,684				6.20
Other debt and equity securities			162,219				1,576				3.85				220,114				2,400				4.33
Total interest-earning deposits and investments			474,006				4,145				3.47				465,803				4,956				4.22
Commercial, financial, and agricultural loans			427,828				5,330				4.94				414,338				4,817				4.61
Real estate—commercial and construction loans			552,262				7,648				5.49				527,559				7,260				5.46
Real estate—residential loans			252,836				2,681				4.21				273,366				3,087				4.48
Loans to individuals			43,261				644				5.91				47,470				820				6.85
Municipal loans and leases			117,028				1,758				5.96				93,669				1,362				5.77
Lease financings			68,551				1,555				9.00				82,478				1,828				8.79
Gross loans and leases			1,461,766				19,616				5.32				1,438,880				19,174				5.29
Total interest-earning assets			1,935,772				23,761				4.87				1,904,683				24,130				5.03
Cash and due from banks			34,326												39,521
Reserve for loan and lease losses			(29,413	)											(23,663	)
Premises and equipment, net			34,932												33,643
Other assets			149,495												142,761
Total assets		$	2,125,112											$	2,096,945
Liabilities:
Interest-bearing checking deposits		$	181,357			$	62				0.14			$	166,778			$	58				0.14
Money market savings			336,161				228				0.27				282,040				337				0.47
Regular savings			466,162				535				0.46				382,980				744				0.77
Time deposits			428,720				2,061				1.91				486,326				3,768				3.07
Total time and interest-bearing deposits			1,412,400				2,886				0.81				1,318,124				4,907				1.48
Securities sold under agreements to repurchase			96,143				72				0.30				101,140				129				0.51
Other short-term borrowings			5,698				62				4.32				98,803				1,068				4.29
Long-term debt			5,000				48				3.81				10,640				(14	)			(0.52	)
Subordinated notes and capital securities			24,365				312				5.08				25,865				320				4.91
Total borrowings			131,206				494				1.49				236,448				1,503				2.52
Total interest-bearing liabilities			1,543,606				3,380				0.87				1,554,572				6,410				1.64
Demand deposits, non-interest bearing			277,301												235,184
Accrued expenses and other liabilities			32,260												39,545
Total liabilities			1,853,167												1,829,301
Shareholders’ Equity
Common stock			91,332												91,332
Additional paid-in capital			61,420												61,426
Retained earnings and other equity			119,193												114,886
Total shareholders’ equity			271,945												267,644
Total liabilities and shareholders’ equity		$	2,125,112											$	2,096,945
Net interest income						$	20,381											$	17,720
Net interest spread											4.00												3.39
Effect of net interest-free funding sources											0.18												0.30
Net interest margin											4.18	%											3.69	%
Ratio of average interest-earning assets to average interest-bearing liabilities			125.41	%											122.52	%

Distribution of Assets, Liabilities and Shareholders’ Equity: Interest Rates and Interest Differential
		For the Twelve Months Ended December 31,
		2010												2009
		Average				Income/				Average				Average				Income/				Average
Tax Equivalent Basis		Balance				Expense				Rate				Balance				Expense				Rate
Assets:
Interest-earning deposits with other banks		$	24,790			$	72				0.29	%		$	5,645			$	16				0.28	%
U.S. Government obligations			151,725				3,160				2.08				110,781				3,608				3.26
Obligations of state and political subdivisions			108,694				7,006				6.45				104,481				6,890				6.59
Other debt and equity securities			172,763				7,217				4.18				218,660				10,406				4.76
Federal funds sold			—				—				—				58				—				—
Total interest-earning deposits, investments and federal funds sold			457,972				17,455				3.81				439,625				20,920				4.76
Commercial, financial, and agricultural loans			422,401				20,315				4.81				410,729				18,838				4.59
Real estate—commercial and construction loans			534,573				30,834				5.77				521,029				30,549				5.86
Real estate—residential loans			256,427				11,124				4.34				291,229				13,520				4.64
Loans to individuals			45,287				2,698				5.96				49,930				3,440				6.89
Municipal loans and leases			107,524				6,409				5.96				90,065				5,444				6.04
Lease financings			75,873				6,690				8.82				90,192				7,655				8.49
Gross loans and leases			1,442,085				78,070				5.41				1,453,174				79,446				5.47
Total interest-earning assets			1,900,057				95,525				5.03				1,892,799				100,366				5.30
Cash and due from banks			35,612												33,514
Reserve for loan and lease losses			(28,688	)											(18,200	)
Premises and equipment, net			34,914												33,170
Other assets			151,527												142,164
Total assets		$	2,093,422											$	2,083,447
Liabilities:
Interest-bearing checking deposits		$	178,679			$	242				0.14			$	162,615			$	257				0.16
Money market savings			303,012				1,060				0.35				305,113				1,724				0.57
Regular savings			445,721				2,555				0.57				353,748				2,955				0.84
Time deposits			432,919				10,054				2.32				508,337				17,371				3.42
Total time and interest-bearing deposits			1,360,331				13,911				1.02				1,329,813				22,307				1.68
Securities sold under agreements to repurchase			97,667				390				0.40				91,390				544				0.60
Other short-term borrowings			42,109				1,726				4.10				92,209				2,937				3.19
Long-term debt			5,363				190				3.54				48,979				1,640				3.35
Subordinated notes and capital securities			24,927				1,252				5.02				26,427				1,295				4.90
Total borrowings			170,066				3,558				2.09				259,005				6,416				2.48
Total interest-bearing liabilities			1,530,397				17,469				1.14				1,588,818				28,723				1.81
Demand deposits, non-interest bearing			259,303												224,417
Accrued expenses and other liabilities			33,232												39,817
Total liabilities			1,822,932												1,853,052
Shareholders’ Equity
Common stock			91,332												80,969
Additional paid-in capital			61,420												37,844
Retained earnings and other equity			117,738												111,582
Total shareholders’ equity			270,490												230,395
Total liabilities and shareholders’ equity		$	2,093,422											$	2,083,447
Net interest income						$	78,056											$	71,643
Net interest spread											3.89												3.49
Effect of net interest-free funding sources											0.22												0.30
Net interest margin											4.11	%											3.79	%
Ratio of average interest-earning assets to average interest-bearing liabilities			124.15	%											119.13	%