Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 24

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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	483,776

			365,024

			Other time deposits

			992,747

			872,764

			Total time deposits

			1,476,523

			1,237,788

			Total interest bearing deposits

			5,794,583

			5,710,263

			Total deposits

			$
			7,293,966

			$
			7,166,401

			(9)

			Securities Sold Under Agreements to Repurchase

SSUAR represent a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one business day from the transaction date. At March 31, 2025 and December 31, 2024, all of these financing arrangements had overnight maturities and were secured by government sponsored enterprise obligations and government agency mortgage-backed securities that were owned and controlled by Bancorp.

Information concerning SSUAR follows:

			(dollars in thousands)

			March 31, 2025

			December 31, 2024

			Outstanding balance at end of period

			$
			151,424

			$
			162,967

			Weighted average interest rate at end of period

			2.07
			
			%

			2.10
			
			%

			Three months ended

			March 31,

			(dollars in thousands)

			2025

			2024

			Average outstanding balance during the period

			$
			158,985

			$
			164,979

			Average interest rate during the period

			2.08
			
			%

			2.27
			
			%

			Maximum outstanding at any month end during the period

			$
			192,507

			$
			179,428

32

			(10)

			Subordinated Debentures 

As a result of its acquisition of Commonwealth Bancshares, Inc. on March 7, 2022, Bancorp became the 100% successor owner of the following unconsolidated trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for