Exhibit 99.1

FOR IMMEDIATE RELEASE

UNIVEST CORPORATION OF PENNSYLVANIA – UNIVEST

BANK AND TRUST CO. – REPORTS FOURTH QUARTER AND YEAR END EARNINGS

SOUDERTON, Pa., January 23, 2013 – Univest Corporation of Pennsylvania (NASDAQ: UVSP), parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today announced financial results for the quarter and year ended December 31, 2012. Univest reported net income of $5.1 million or $0.30 diluted earnings per share for the quarter ended December 31, 2012, a 3% decrease in net income compared to $5.3 million or $0.32 diluted earnings per share for the quarter ended December 31, 2011. For the year ended December 31, 2012, Univest reported net income of $20.9 million or $1.24 diluted earnings per share, compared to $18.9 million or $1.13 diluted earnings per share for the same period in the prior year. The increase in net income of $2.0 million during 2012 represents an increase of 11% over the prior year.

Loans

Gross loans and leases increased $12.4 million from September 30, 2012 and $35.5 million from December 31, 2011. The growth in loans from the prior year-end occurred primarily in the commercial and residential mortgage categories. While the Corporation continued to see increased loan activity during 2012, overall credit demand and utilization of lines by businesses and consumers remained light as a result of the slow and uncertain economic recovery.

Deposits

Total deposits increased $87.4 million from September 30, 2012 and $116.1 million from December 31, 2011. Deposits, excluding public funds, grew $87.1 million from September 30, 2012 and $120.2 million from December 31, 2011, primarily due to new customers choosing Univest and an overall increase in demand deposits.

Net Interest Income and Margin

Net interest income decreased $184 thousand or 1% to $18.2 million in the fourth quarter of 2012 compared to the fourth quarter of 2011. The net interest margin on a tax-equivalent basis for the fourth quarter of 2012 was 3.80%, compared to 3.84% during the third quarter of 2012, and down from 3.96% in the fourth quarter of 2011. Net interest income decreased $2.3 million or 3% to $72.5 million for the year ended December 31, 2012 compared to the same period in 2011. The net interest margin on a tax-equivalent basis for the year ended December 31, 2012 was 3.89% compared to 4.15% for the year ended December 31, 2011.

The declines in net interest income and net interest margin were primarily due to the re-investment of maturing and called investment securities into 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 declines in net interest income and net interest margin were partially offset by re-pricing of certificates of deposit and savings account products.

Non-Interest Income

Non-interest income for the quarter ended December 31, 2012 was $10.4 million, an increase of $1.4 million or 16% from the comparable period in the prior year. The net gain on mortgage banking activities increased $919 thousand during the fourth quarter of 2012 over the same period in 2011 as refinance volume continues to be strong. Insurance commission and fee income was up $404 thousand mainly due to the Javers Group acquisition on May 31, 2012. In addition, trust fee income increased $433 thousand primarily due to growth in trust assets and estate fees. Partially offsetting this favorable variance was a decline in investment advisory commission and fee income of $371 thousand, primarily a result of timing and customer product selection.

Non-interest income for the year ended December 31, 2012 was $40.3 million, an increase of $5.9 million or 17% compared to the same period in the prior year. The increase was primarily attributable to an increase in the net gain on mortgage banking activities of $4.2 million due to stronger mortgage demand from increased refinance activity, a $1.3 million gain on the sale of a former operations building and proceeds from bank owned life insurance death benefits of $989 thousand. In addition, insurance commission and fee income was up $798 thousand mostly due to the Javers Group acquisition. These favorable variances were partially offset by an increase in the net loss on sales and write-downs of other real estate owned of $1.1 million. In addition, the net gain on sales of securities was $305 thousand for the year ended December 31, 2012 compared to $1.4 million for the same period in 2011.

Non-Interest Expense

Non-interest expense for the fourth quarter of 2012 was $19.7 million, an increase of $2.1 million or 12% compared to the fourth quarter of 2011. Salaries and benefits expense increased $1.4 million primarily due to higher commissions related to increased mortgage banking activities, annual performance increases and additional staff hired to expand our existing business lines and welcomed through the Javers acquisition. Additionally, non-interest expense increased due to higher equipment expenses and employment services used to identify top sales personnel.

Non-interest expense for the year ended December 31, 2012 was $76.3 million, an increase of $8.3 million or 12% compared to same period in the prior year. Salaries and benefits expense increased $6.1 million primarily due to higher commissions related to increased mortgage banking activities, annual performance increases and additional staff hired primarily to support revenue generation. Additionally, non-interest expense increased due to higher loan workout, legal, employment services and equipment expenses. The year-to-date increases were partially offset by a decline in deposit insurance premiums of $350 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 $32.1 million at December 31, 2012 from $38.2 million at December 31, 2011. Non-accrual loans and leases were $30.5 million at September 30, 2012. The decrease in non-accrual loans from December 31, 2011 was mainly due to loan charge-offs, pay-downs and sales, and one large non-accrual troubled debt restructured credit for $6.2 million which was returned to accruing troubled debt restructured status as the borrower made six consecutive principal and interest payments; these collectively exceeded the additions to non-accrual loans. Net loan and lease charge-offs were $4.7 million during the fourth quarter of 2012 compared to $4.3 million for the fourth quarter of 2011. For the year ended December 31, 2012, net loan and lease charge-offs were $15.2 million compared to $18.5 million for the year ended December 31, 2011.

Non-accrual loans and leases as a percentage of total loans and leases (held for investment and nonaccrual loans held for sale) were 2.17% at December 31, 2012, compared to 2.07% at September 30, 2012 and 2.64% at December 31, 2011. Other real estate owned decreased to $1.6 million, consisting of two properties at December 31, 2012, compared to $3.3 million at September 30, 2012 and $6.6 million at December 31, 2011. The year-to-date decrease was primarily due to write-downs on properties of $2.0 million to their updated appraised values, and the sale of three commercial properties for $3.0 million which had a total carrying value of $2.9 million, resulting in a gain on sale of $97 thousand.

The provision for loan and lease losses was $2.4 million for the fourth quarter of 2012, compared to $2.2 million for the quarter ended September 30, 2012 and $3.1 million for the quarter ended December 31, 2011. The provision for loan and lease losses for the year ended December 31, 2012 was $10.0 million, a reduction of $7.5 million compared to $17.5 million for the year ended December 31, 2011. The decrease in the year-to-date provision was primarily the result of migration and resolution of loans through the loan workout process and a decrease in loss factors for commercial real estate loans. The allowance for loan and lease losses as a percentage of loans and leases held for investment was 1.67% at December 31, 2012, compared to 1.84% at September 30, 2012 and 2.07% at December 31, 2011. The allowance for loan and lease losses to nonaccrual loans and leases held for investment equaled 77.01% at December 31, 2012, compared to 97.03% at September 30, 2012 and 78.18% at December 31, 2011.

Capital

Univest continues to remain well-capitalized at December 31, 2012. Univest’s total risk-based capital at December 31, 2012 was 15.62%, well in excess of the regulatory minimum for well capitalized status of 10%.

Dividend

On November 28, 2012, Univest Corporation declared a quarterly cash dividend of $0.20 per share, payable on December 28, 2012. This represented a 4.82% 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

December 31, 2012

(Dollars in thousands)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

December 31, 2012

(Dollars in thousands, except per share data)

Univest Corporation of Pennsylvania

Consolidated Selected Financial Data

December 31, 2012