Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 78

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 the nine months ended September 30, 2025 compared to the same period of 2024, as the impact of significant loan growth on interest income far surpassed the increase in interest expense tied to interest bearing deposit growth.

Total average interest earning assets increased $737 million, or 10%, for the nine months ended September 30, 2025, as compared to the same period of 2024, attributed to substantial average loan growth that was partially offset by a decline in average investment securities driven by scheduled maturities and normal amortization. The average rate earned on total average interest earning assets climbed 24 bps to 5.51%.

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			Average total loan balances increased $754 million, or 13%, for the nine months ended September 30, 2025, compared to the same period of 2024. While the CRE segment drove a significant portion of the period over period growth, the residential real estate, C&I lines of credit and C&D segments also experienced solid growth.

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			Average investment securities declined $155 million, or 10%, for the nine months ended September 30, 2025 compared to the same period of 2024, mainly as the result of significant scheduled maturities within the treasury portfolio, and to a lesser extent, normal amortization activity. The funding provided by this activity has benefitted interest-earning asset yields and overall NIM, as the related liquidity has helped fund Bancorp’s substantial loan growth or shifted into interest-bearing cash balances.

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			Average FFS and interest bearing due from bank balances increased $140 million, or 91%, for the nine months ended September 30, 2025, which was largely the result of the previously mentioned liquidity provided by the investment securities portfolio.

Total interest income (FTE) increased $43.8 million, or 14%, to $347 million for the nine months ended September 30, 2025, as compared to the same period of 2024.

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			Interest and fee income (FTE) on loans increased $38.2 million, or 14%, to $310 million for the nine months ended September 30, 2025, compared to the same period of 2024, driven by significant average loan growth. The yield on the overall loan portfolio increased 9 bps to 6.15% for the nine months ended September 30, 2025 compared to 6.