Exhibit 99.1

NEWS

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA – UNIVEST

BANK AND TRUST CO. – REPORTS FIRST QUARTER EARNINGS

SOUDERTON, Pa., April 25, 2012 – Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest Bank and Trust Co., a full-service financial institution with more than 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 ended March 31, 2012. Univest reported net income of $5.3 million or $0.31 diluted earnings per share for the quarter ended March 31, 2012, a 36% increase in net income compared to $3.9 million or $0.23 diluted earnings per share for the quarter ended March 31, 2011.

Loans

Gross loans and leases increased $13.4 million from December 31, 2011 and increased $17.7 million from March 31, 2011. Commercial loans increased $7.9 million and residential mortgage loans increased $7.0 million during the quarter. While the Corporation continued to see increased loan activity in the first quarter, 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 decreased $19.2 million from December 31, 2011 and increased $64.8 million from March 31, 2011. Core deposits, excluding public fund deposits, increased $18.2 million for the quarter and $83.7 million from March 31, 2011, primarily due to new customers choosing Univest.

Net Interest Income and Margin

Net interest income decreased $645 thousand or 3% to $18.2 million in the first quarter of 2012 compared to the first quarter of 2011. The net interest margin on a tax-equivalent basis for the first quarter of 2012 was 3.95%, flat compared to 3.96% during the fourth quarter of 2011, and down from 4.24% in the first quarter of 2011. The decline in net interest income and the net interest margin during the first quarter of 2012 from the same period in the prior year was primarily due to the re-investment of maturing and called investment securities with lower yielding investments due to the lower interest rate environment and lower rates on commercial business 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. Average interest-earning deposits with the Federal Reserve Bank increased $50.5 million from the comparable period in the prior year.

Non-Interest Income

Non-interest income for the quarter ended March 31, 2012 was $11.0 million, an increase of $3.3 million or 42% from the comparable period in the prior year. The increase was primarily attributed to proceeds from bank owned life insurance death benefits of $989 thousand and an increase in the net gain on mortgage banking activities of $1.3 million due to stronger mortgage demand from increased re-finance activity. In addition, other income increased $616 thousand mainly due to a decrease in net loss on sales and write-downs of other real estate owned and positive valuation adjustments on mortgage servicing rights. During the first quarter of 2012, the Corporation recorded a net loss on sales and write-downs of other real estate owned of $31 thousand compared to $352 thousand for the same period in the prior year. During the first quarter of 2012, the Corporation reversed $212 thousand of negative valuation adjustments on mortgage servicing rights recorded primarily during the third quarter of 2011. In addition, the first quarter of 2012 included a net gain on sales of securities of $258 thousand. Partially offsetting these favorable variances was a decline in service charges on deposits of $236 thousand. This decline is primarily due to changes in industry practices to benefit customers impacting non-sufficient funds and overdraft fees, which were implemented in July 2011.

Non-Interest Expense

Non-interest expense for the first quarter of 2012 was $18.9 million, an increase of $2.1 million or 13% compared to the first quarter of 2011. Salaries and benefits expense increased $2.6 million primarily due to higher commissions related to increased mortgage banking activities, increased employee incentives, annual performance increases, and lower deferred loan origination costs. The increases for the quarter were partially offset by a decline in deposit insurance premiums of $269 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 $36.3 million at March 31, 2012 from $38.2 million at December 31, 2011 and $38.6 million at March 31, 2011. The decrease in non-accrual loans was mainly due to charge-offs and pay-downs exceeding additions to non-accrual loans. Accruing troubled debt restructured loans increased to $7.3 million at March 31, 2012 from $3.9 million at December 31, 2011, primarily due to the restructuring of loans for three borrowers in the commercial business, commercial real estate and construction loan categories. Accruing troubled debt restructured loans were $5.1 million at March 31, 2011. Net loan and lease charge-offs were $3.4 million during the first quarter of 2012 compared to $4.3 million and $3.2 million for the fourth and first quarters of 2011, respectively.

Nonperforming loans and leases as a percentage of total loans and leases were 3.02% at March 31, 2012 compared to 2.94% at December 31, 2011 and 3.07% at March 31, 2011. Other real estate owned decreased to $5.0 million, consisting of three properties at March 31, 2012, down from $6.6 million at December 31, 2011 and $6.1 million at March 31, 2011. During the first quarter of 2012, one 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 was $4.1 million for the first quarter of 2012 compared to $3.1 million for the quarter ended December 31, 2011 and $5.1 million for the quarter ended March 31, 2011. The allowance for loan and lease losses as a percentage of total loans and leases was 2.10% at March 31, 2012 compared to 2.07% at December 31, 2011 and 2.27% at March 31, 2011. The allowance for loan and lease losses to nonperforming loans and leases equaled 69.39% at March 31, 2012, compared to 70.34% at December 31, 2011 and 74.12% at March 31, 2011.

Capital

Univest continues to remain well-capitalized at March 31, 2012. Univest’s total risk-based capital at March 31, 2012 was 15.76%, well in excess of the regulatory minimum for well capitalized status of 10% for total risk-based capital.

Dividend

On April 2, 2012, Univest Corporation paid a quarterly cash dividend of $0.20 per share, which represented a 4.66% 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

March 31, 2012

(Dollars in thousands)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

March 31, 2012

(Dollars in thousands, except per share data)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

March 31, 2012

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 March 31, 2012 and 2011 have been calculated using the Corporation’s

federal applicable rate of 35.0%.

N/M —Not meaningful