Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 105

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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%, to $9.31 billion at September 30, 2025 from $8.86 billion at December 31, 2024. The increase for the first nine months of 2025 was attributed to strong loan growth of $409 million, or 6%, and a $465 million, or 160%, increase in cash and cash equivalents, which was partially offset by a decline of $420 million, or 31%, in the investment securities portfolio attributed mainly to scheduled maturity activity.

Total liabilities increased $343 million, or 4%, to $8.27 billion at September 30, 2025 from $7.92 billion at December 31, 2024, with total deposit growth of $478 million, or 7%, driven in large part by successful deposit promotions, which was offset partially by smaller declines in SSURA and other liabilities.

Stockholders’ equity increased $101 million, or 11%, to $1.04 billion at September 30, 2025 from $940 million at December 31, 2024, as net income of $103.5 million and a $23.5 million improvement in AOCI was offset by $27.7 million of cash dividends declared during the first nine months of 2025. The improvement in AOCI was associated with changes in the interest rate environment and the corresponding impact on the valuation of the AFS debt securities portfolio and cash flow hedging derivatives.

Cash and Cash Equivalents

Cash and cash equivalents increased $465 million, or 160%, ending at $756 million at September 30, 2025 compared to $291 million at December 31, 2024, which was attributed to the previously mentioned maturity activity within the investment securities portfolio and deposit growth outpacing loan growth through the first nine months of 2025. The elevated cash levels currently held by Bancorp are also consistent with balance sheet management strategies implemented in preparation for approaching the $10 billion regulatory threshold.

Investment Securities

The primary purpose of the investment securities portfolio is to provide another source of interest income, as well as a tool for liquidity management. In managing the composition of the balance sheet, Bancorp seeks a balance between earnings sources, credit and liquidity considerations.

Investment securities decreased $420 million, or 31%, to $941 million at September 30, 2025 compared to $1.36 billion at December 31, 2024. This decline was driven mainly by scheduled maturities within the treasury portfolio specifically, and