Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 76

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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$
			10,647

			$
			10,771

			$
			(124
			)

			(1
			)%

			Deposit service charges

			2,079

			2,136

			(57
			)

			(3
			)

			Debit and credit card income

			4,508

			4,682

			(174
			)

			(4
			)

			Treasury management fees

			2,673

			2,625

			48

			2

			Mortgage banking income

			917

			948

			(31
			)

			(3
			)

			Net investment product sales commissions and fees

			1,010

			865

			145

			17

			Bank owned life insurance

			622

			588

			34

			6

			Other

			540

			656

			(116
			)

			(18
			)

			Total non-interest income

			$
			22,996

			$
			23,271

			$
			(275
			)

			(1
			)%

Total non-interest income decreased $275,000, or 1%, for the three month period ended March 31, 2025 compared to the same period of 2024. Non-interest income comprised 24.6% and 27.9% of total revenues, defined as net interest income and non-interest income, for the three month periods ended March 31, 2025 and 2024, respectively, the decrease from prior year being attributed to the sharp rise in net interest income compared to prior year. WM&T services comprised 46.3% of total non-interest income for the three periods ended both March 31, 2025 and 2024, respectively.

WM&T Services:

The magnitude of WM&T revenue distinguishes Bancorp from other community banks of similar asset size. WM&T revenue decreased $124,000, or 1%, for the three month period ended March 31, 2025, as compared with the same period of 2024, attributed largely to the significant market depreciation experienced during the first quarter, which more than offset an increase in net new