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Univest Corp. of Pennsylvania terminates shareholder rights plan

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Univest Corp. of Pennsylvania terminates shareholder rights plan

Univest Corp. of Pennsylvania's board terminated the company's shareholder rights plan Jan. 25.

The company said the decision was reached after a periodic review of corporate governance practices and taking into account comments received as part of an ongoing dialogue with shareholders.

The Souderton, Pa.-based company reported fourth-quarter 2016 net income of $6.9 million, or 26 cents per share, compared to net income of $7.2 million, or 37 cents per share, for the same period a year ago. Net income for the full year 2016 was $19.5 million, or 84 cents per share, compared to full-year 2015 net income of $27.3 million, or $1.39 per share.