Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 89

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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			54

			270

			Other

			1,177

			500

			677

			135

			1,717

			1,156

			561

			49

			Total non-interest income

			$
			24,348

			$
			23,655

			$
			693

			3
			%
			 
			$
			47,344

			$
			46,926

			$
			418

			1
			%

Total non-interest income increased $693,000, or 3%, and $418,000, or 1%, for the three and six month periods ended June 30, 2025, respectively, compared to the same periods of 2024. Non-interest income comprised 24.9% and 24.7% of total revenues, defined as net interest income and non-interest income, for the three and six month periods ended June 30, 2025 compared to 27.6% and 27.8% for the same periods of 2024, respectively. The decreases from prior year were attributed to the sharp rise in net interest income compared to prior year. WM&T services comprised 43.0% and 44.6% of total non-interest income for the three and six month periods ended June 30, 2025 compared to 45.6% and 46.0% for the same periods of the prior year. The decreases from the prior year were attributed to a combination of growth in other non-interest income streams as well as period over period declines in WM&T revenue.

WM&T Services:

The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size. WM&T revenue decreased $312,000, or 3%, and $436,000, or 2%, for the three and six month periods ended June 30, 2025, as compared with the same periods of 2024, attributed mainly to the residual impact of business lost in prior periods.

Net new business refers to revenue generated from newly acquired customers, excluding revenue from upselling or cross-selling to existing active customers. It plays a crucial role in expanding Bancorp’s financial base and ensuring long-term sustainability and success. In the latter part of 2024, the WM&T department experienced negative net new business for the first time in several years, driven in large