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 NATIONAL
BANK AND TRUST CO. — REPORTS FIRST QUARTER EARNINGS

SOUDERTON, Pa., April 27, 2011 — Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest National 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 first quarter. Univest reported net income of $3.9 million or $0.23 diluted earnings per share for the quarter ended March 31, 2011, compared to $3.0 million or $0.18 diluted earnings per share for the comparable period in the prior year.

Deposits

Non-interest bearing deposits increased for the quarter by $9.2 million from December 31, 2010 as a result of successful campaigns to attract new consumer and business checking accounts. This increase was offset by a decline in NOW, money market and savings accounts of $23.2 million and time deposits of $7.0 million. At March 31, 2011, total non-time deposits increased $112.8 million or 9.88% over the comparable quarter ended March 31, 2010. The increase consisted of an increase of $33.4 million in non-interest bearing deposits and $79.4 million in NOW, money market and savings accounts. These increases were offset by a decline in time deposits of $20.2 million.

Loans

Gross loans and leases declined for the quarter by $29.0 million from December 31, 2010 primarily due to less credit demand and utilization of lines by both businesses and consumers responding to the current economic environment. Commercial loans and consumer loans declined $25.1 million and $1.9 million, respectively, during the quarter, while residential mortgage loans increased $2.9 million. Gross loans and leases increased slightly by $14.3 million compared to March 31, 2010.

Net Interest Income and Margin

Net interest income of $18.8 million increased $1.7 million, or 10.00%, in the first quarter of 2011 over the first quarter of 2010. The net interest margin on a tax-equivalent basis for the first quarter of 2011 increased 6 basis points to 4.24% from 4.18% for the fourth quarter ended December 31, 2010 and 25 basis points compared to 3.99% for the first quarter of 2010.

The increase in the net interest income and the net interest margin can be attributed to declines in the cost of interest-bearing liabilities, primarily time deposits as well as regular savings accounts and declines in the volume of Federal Home Loan Bank (FHLB) borrowings, exceeding the declines in yields on total interest-earning assets. The Corporation experienced core deposit growth in 2010 which allowed the Corporation to repay its maturing FHLB advances reducing FHLB advances from $64 million at March 31, 2010 to $5 million at December 31, 2010. FHLB advances at March 31, 2011 remained at $5 million.

Non-Interest Income

For the quarter ended March 31, 2011, Univest reported total non-interest income of $7.8 million compared to $8.2 million for the comparable period in the prior year. This 5.46% decrease is a result of the challenging economic climate and increased regulatory requirements. Service charges on deposit accounts declined by $446 thousand primarily due to the amendments to Regulation E which were implemented on August 15, 2010. Additionally, net gain on mortgage banking activities declined $485 thousand 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. These unfavorable variances were partially offset by increases in trust fee income and investment and advisory commissions and fees due to a rebounding equity market and customers increasing willingness to invest. Additionally, the first quarter of 2010 was impacted by a net loss on the ineffective portion of a fair value swap of $310 thousand which was terminated in August 2010.

Non-Interest Expense

Non-interest expense for the first quarter of 2011 decreased $333 thousand or 1.95% compared to the first quarter of 2010 as a result of a decline in salaries and benefits expenses of $828 thousand. The decline is primarily a result of higher deferred loan origination costs, lower healthcare costs and reduced pension plan expenses. 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 economic environment. These decreases were partially offset by increases in premises and equipment expense, deposit insurance premiums and interchange expenses.

Asset Quality and Provision for Loan and Lease Losses

Nonaccrual loans and leases, including nonaccrual troubled debt restructured loans, were $38.6 million at March 31, 2011 compared to $45.2 million at December 31, 2010 and $34.9 million at March 31, 2010. Accruing troubled debt restructured loans increased from $550 thousand at December 31, 2010 to $5.1 million at March 31, 2011 primarily due to the restructuring of two large real estate construction loan relationships. Nonperforming loans and leases as a percentage of total loans and leases equaled 3.07% at March 31, 2011 compared to 3.16% at December 31, 2010 and 2.58% at March 31, 2010. Other real estate owned increased from $2.4 million at December 31, 2010 to $6.1 million at March 31, 2011 and consists of five properties. Three of the five properties, which aggregate $3.0 million, are currently under agreements of sale. Net loan and lease charge-offs for the quarter were $3.2 million compared to $4.3 million for the previous three months.

The provision for loan and lease losses was $5.1 million for the first quarter of 2011 compared to $6.3 million for the quarter ended December 31, 2010 and $4.9 million for the quarter ended March 31, 2010. As a result of the provision exceeding net charge-offs combined with the decline in outstanding loans during the quarter, the allowance for loan and lease losses as a percentage of total loans and leases increased to 2.27% at March 31, 2011 from 2.10% at December 31, 2010 and 1.90% at March 31, 2010. The allowance for loan and lease losses to nonperforming loans and leases equaled 74.12% at March 31, 2011 which increased from 66.48% at December 31, 2010. The allowance for loan and lease losses to nonperforming loans and leases was 73.45% at March 31, 2010.

Capital

Univest continues to remain well-capitalized at March 31, 2011. Univest’s total risk-based capital at March 31, 2011 was 15.89%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.

Dividend

On April 1, 2011, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.49% 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
March 31, 2011

(Dollars in thousands)

Balance Sheet (Period End)		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Assets		$	2,108,579			$	2,133,893			$	2,114,204			$	2,088,572			$	2,064,822
Securities			445,798				467,024				420,998				434,677				436,368
Loans held for sale			1,451				4,178				3,801				2,485				1,165
Loans and leases, gross			1,442,137				1,471,186				1,467,382				1,449,147				1,427,805
Allowance for loan and lease losses			32,804				30,898				28,883				29,109				27,065
Loans and leases, net			1,409,333				1,440,288				1,438,499				1,420,038				1,400,740
Total deposits			1,665,225				1,686,270				1,677,641				1,609,772				1,572,681
Non-interest bearing deposits			280,337				271,125				272,805				255,880				246,909
NOW, Money Market and Savings			974,158				997,395				969,254				924,242				894,799
Time deposits			410,730				417,750				435,582				429,650				430,973
Borrowings			125,545				143,865				128,905				171,824				187,637
Shareholders’ equity			268,673				266,224				270,773				269,524				267,850

		For the three months ended,
Balance Sheet (Average)		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Assets		$	2,106,276			$	2,125,112			$	2,117,708			$	2,090,930			$	2,038,739
Securities			444,662				449,031				431,193				442,902				409,188
Loans and leases, gross			1,461,037				1,461,766				1,459,820				1,425,278				1,420,830
Deposits			1,670,062				1,689,701				1,642,613				1,606,621				1,537,676
Shareholders’ equity			268,343				271,945				271,045				269,902				269,030

Asset Quality Data (Period End)		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Nonaccrual loans and leases, including nonaccrual troubled debt restructured loans and leases		$	38,631			$	45,232			$	33,043			$	29,541			$	34,856
Accruing loans and leases 90 days or more past due			516				696				899				1,276				303
Accruing troubled debt restructured loans and leases			5,111				550				813				1,499				1,691
Other real estate owned			6,135				2,438				1,557				1,827				2,453
Nonperforming assets			50,393				48,916				36,312				34,143				39,303
Allowance for loan and lease losses			32,804				30,898				28,883				29,109				27,065
Nonperforming loans and leases / Loans and leases			3.07	%			3.16	%			2.37	%			2.23	%			2.58	%
Allowance for loan and lease losses / Loans and leases			2.27	%			2.10	%			1.97	%			2.01	%			1.90	%
Allowance for loan and lease losses / Nonperforming loans			74.12	%			66.48	%			83.10	%			90.08	%			73.45	%

		For the three months ended,
		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Net loan and lease charge-offs		$	3,228			$	4,261			$	5,755			$	2,821			$	2,628
Net loan and lease charge-offs (annualized)/Average loans and leases			0.90	%			1.16	%			1.56	%			0.79	%			0.75	%

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
March 31, 2011

(Dollars in thousands, except per share data)

		For the three months ended,
For the period:		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Interest income		$	21,706			$	22,580			$	23,060			$	22,878			$	22,485
Interest expense			2,897				3,380				4,107				4,602				5,380
Net interest income			18,809				19,200				18,953				18,276				17,105
Provision for loan and lease losses			5,134				6,276				5,529				4,865				4,895
Net interest income after provision			13,675				12,924				13,424				13,411				12,210
Noninterest income:
Trust fee income			1,625				1,630				1,450				1,500				1,500
Service charges on deposit accounts			1,336				1,466				1,633				1,812				1,782
Investment advisory commission and fee income			1,162				1,191				1,227				1,152				1,056
Insurance commissions and fee income			2,200				1,740				1,815				1,896				2,243
Bank owned life insurance income			344				410				326				202				332
Other-than-temporary impairment			(7	)			(3	)			(12	)			(42	)			(5	)
Net gain on sales of securities			—				6				339				38				49
Net (loss) gain on mortgage banking activities			(25	)			779				1,246				475				460
Net loss on interest rate swap			—				—				(246	)			(516	)			(310	)
Other income			1,124				2,049				1,106				1,542				1,100
Total noninterest income			7,759				9,268				8,884				8,059				8,207
Noninterest expense
Salaries and benefits			8,983				8,979				9,775				9,469				9,811
Premises and equipment			2,527				2,351				2,435				2,209				2,292
Deposit insurance premiums			713				712				698				663				597
Other expense			4,523				4,148				4,263				4,568				4,379
Total noninterest expense			16,746				16,190				17,171				16,909				17,079
Income before taxes			4,688				6,002				5,137				4,561				3,338
Applicable income taxes			826				1,093				990				831				368
Net income		$	3,862			$	4,909			$	4,147			$	3,730			$	2,970
Per Common Share Data:
Book value per share		$	16.04			$	15.99			$	16.29			$	16.25			$	16.17
Net income per share:
Basic		$	0.23			$	0.30			$	0.25			$	0.23			$	0.18
Diluted		$	0.23			$	0.30			$	0.25			$	0.23			$	0.18
Dividends per share		$	0.20			$	0.20			$	0.20			$	0.20			$	0.20
Weighted average shares outstanding			16,712,282				16,645,115				16,621,291				16,589,657				16,535,461
Period end shares outstanding			16,745,935				16,648,303				16,626,900				16,590,710				16,561,807

Univest Corporation of Pennsylvania
Consolidated Selected Financial Data
March 31, 2011

		For the three months ended,
Profitability Ratios (annualized)		03/31/11				12/31/10				09/30/10				06/30/10				03/31/10
Return on average assets			0.74	%			0.92	%			0.78	%			0.72	%			0.59	%
Return on average shareholders’ equity			5.84	%			7.16	%			6.07	%			5.54	%			4.48	%
Net interest margin (FTE)			4.24	%			4.18	%			4.15	%			4.11	%			3.99	%
Efficiency ratio (1)			59.90	%			54.20	%			58.88	%			61.32	%			64.33	%
Capitalization Ratios
Dividends paid to net income			86.30	%			67.85	%			80.15	%			88.95	%			111.55	%
Shareholders’ equity to assets (Period End)			12.74	%			12.48	%			12.81	%			12.90	%			12.97	%
Tangible common equity to tangible assets			10.32	%			10.08	%			10.46	%			10.51	%			10.55	%
Regulatory Capital Ratios (Period End)
Tier 1 leverage ratio			11.72	%			11.54	%			11.51	%			11.57	%			11.82	%
Tier 1 risk-based capital ratio			14.59	%			14.17	%			14.14	%			14.25	%			14.44	%
Total risk-based capital ratio			15.89	%			15.47	%			15.45	%			15.58	%			15.78	%

Distribution of Assets, Liabilities and Shareholders' Equity: Interest Rates and Interest Differential
		For the Three Months Ended March 31,
		2011												2010
		Average				Income/				Average				Average				Income/				Average
Tax Equivalent Basis		Balance				Expense				Rate				Balance				Expense				Rate
Assets:
Interest-earning deposits with other banks		$	6,279			$	3				0.19	%		$	14,293			$	11				0.31	%
U.S. Government obligations			170,658				717				1.70				114,164				742				2.64
Obligations of state and political subdivisions			109,026				1,721				6.40				106,634				1,739				6.61
Other debt and equity securities			164,978				1,529				3.76				188,390				2,019				4.35
Total interest-earning deposits and investments			450,941				3,970				3.57				423,481				4,511				4.32
Commercial, financial, and agricultural loans			428,636				5,171				4.89				409,663				4,666				4.62
Real estate—commercial and construction loans			558,304				7,251				5.27				524,084				7,561				5.85
Real estate—residential loans			244,305				2,641				4.38				260,959				2,858				4.44
Loans to individuals			43,010				626				5.90				47,509				798				6.81
Municipal loans and leases			122,478				1,731				5.73				97,448				1,425				5.93
Lease financings			64,304				1,518				9.57				81,167				1,723				8.61
Gross loans and leases			1,461,037				18,938				5.26				1,420,830				19,031				5.43
Total interest-earning assets			1,911,978				22,908				4.86				1,844,311				23,542				5.18
Cash and due from banks			36,101												31,621
Reserve for loan and lease losses			(32,402	)											(26,579	)
Premises and equipment, net			34,624												34,859
Other assets			155,975												154,527
Total assets		$	2,106,276											$	2,038,739
Liabilities:
Interest-bearing checking deposits		$	192,676			$	64				0.13			$	171,978			$	57				0.13
Money market savings			308,797				201				0.26				279,912				317				0.46
Regular savings			481,404				463				0.39				415,934				781				0.76
Time deposits			411,030				1,738				1.71				434,166				3,065				2.86
Total time and interest-bearing deposits			1,393,907				2,466				0.72				1,301,990				4,220				1.31
Securities sold under agreements to repurchase			96,446				71				0.30				95,841				117				0.50
Other short-term borrowings			10,269				9				0.36				71,266				685				3.90
Long-term debt			5,000				47				3.81				5,746				47				3.32
Subordinated notes and capital securities			23,994				304				5.14				25,494				311				4.95
Total borrowings			135,709				431				1.29				198,347				1,160				2.37
Total interest-bearing liabilities			1,529,616				2,897				0.77				1,500,337				5,380				1.45
Demand deposits, non-interest bearing			276,155												235,686
Accrued expenses and other liabilities			32,162												33,686
Total liabilities			1,837,933												1,769,709
Shareholders’ Equity
Common stock			91,332												91,332
Additional paid-in capital			61,411												61,420
Retained earnings and other equity			115,600												116,278
Total shareholders’ equity			268,343												269,030
Total liabilities and shareholders’ equity		$	2,106,276											$	2,038,739
Net interest income						$	20,011											$	18,162
Net interest spread											4.09												3.73
Effect of net interest-free funding sources											0.15												0.26
Net interest margin											4.24	%											3.99	%
Ratio of average interest-earning assets to average interest-bearing liabilities			125.00	%											122.93	%