Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 120

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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-GAAP disclosure. Bancorp provides the TCE per share, a non-GAAP measure, in addition to those defined by banking regulators, based on its widespread use by investors as a means to evaluate capital adequacy:

			(dollars in thousands, except per share data)

			June 30, 2025

			December 31, 2024

			Total stockholders' equity - GAAP (a)

			$
			1,005,704

			$
			940,476

			Less: Goodwill

			(194,074
			)

			(194,074
			)

			Less: Core deposit and other intangibles

			(13,989
			)

			(15,818
			)

			Tangible common equity - Non-GAAP (c)

			$
			797,641

			$
			730,584

			Total assets - GAAP (b)

			$
			9,208,986

			$
			8,863,419

			Less: Goodwill

			(194,074
			)

			(194,074
			)

			Less: Core deposit and other intangibles

			(13,989
			)

			(15,818
			)

			Tangible assets - Non-GAAP (d)

			$
			9,000,923

			$
			8,653,527

			Total stockholders' equity to total assets - GAAP (a/b)

			10.92
			%

			10.61
			%

			Tangible common equity to tangible assets - Non-GAAP (c/d)

			8.86
			%

			8.44
			%

			Total shares outstanding (e)

			29,473

			29,431

			Book value per share - GAAP (a/e)

			$
			34.12

			$
			31.96

			Tangible common equity per share - Non-GAAP (c/e)

			27.06

			24.82

The efficiency ratio, a non-GAAP measure, equals total non-interest expenses divided by the sum of net interest income (FTE) and non-interest income. In addition to the efficiency ratio presented, Bancorp