Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 38

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 38
---
urchase

			162,967

			162,967

			—

			162,967

			—

			Federal funds purchased

			6,525

			6,525

			—

			6,525

			—

			Subordinated debentures

			26,806

			26,346

			—

			26,346

			—

			FHLB advances

			300,000

			294,848

			—

			294,848

			—

			Accrued interest payable

			1,912

			1,912

			1,912

			—

			—

Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. Because no market exists for a significant portion of Bancorp’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Therefore, calculated fair value estimates in many instances cannot be substantiated by comparison to independent markets and, in many cases, may not be realizable in a current sale of the instrument. Changes in assumptions could significantly impact estimates.

41

			(15)

			Mortgage Banking Activities

Mortgage banking activities primarily include residential mortgage originations and servicing. Mortgages originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors.

Activity for mortgage loans held for sale, at fair value, was as follows:

			Three months ended

			Nine months ended

			September 30,

			September 30,

			(in thousands)

			2025

			2024

			2025

			2024

			Balance, beginning of period:

			$
			5,014

			$
			6,438

			$
			6,286

			$
			6,056

			Origination of mortgage loans held for sale

			37,086

			27,278

			105,149

			78,742

			Proceeds from the sale of mortgage loans held for sale

			(37,052
			)

			(29,737
			)