Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 84

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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 averaged $2 million and $3 million for the six month periods ended both June 30, 2025 and 2024, respectively.

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			Interest income on a FTE basis includes additional amounts of interest income that would have been earned if investments in certain tax-exempt interest earning assets had been made in assets subject to federal taxes yielding the same after-tax income. Interest income on municipal securities and tax-exempt loans has been calculated on a FTE basis using a federal income tax rate of 21%. Approximate tax equivalent adjustments to interest income were $171,000 and $91,000 for the three month periods ended June 30, 2025 and 2024, respectively, and $87,000 and $187,000 for the six month periods ended June 30, 2025 and 2024, respectively.

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			Interest income includes loan fees of $1.2 million and $1.4 million for the three month periods ended June 30, 2025 and 2024, respectively, and $3.0 million and $2.9 million for the six month periods ended June 30, 2025 and 2024, respectively. Interest income on loans may be materially impacted by the level of prepayment fees collected and net accretion income related to acquired loans. Net accretion income related to acquired loans totaled $306,000 and $465,000 for the three month periods ended June 30, 2025 and 2024, respectively, and $735,000 and $1.3 million for the six month periods ended June 30, 2025 and 2024.

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			Net interest income, the most significant component of Bancorp's earnings, represents total interest income less total interest expense. The level of net interest income is determined by mix and volume of interest earning assets, interest bearing deposits and borrowed funds, and changes in interest rates. 

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			NIM represents net interest income on a FTE basis as a percentage of total average interest earning assets. 

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			Net interest spread (FTE) is the difference between taxable equivalent rates earned on total interest earning assets less the cost of interest bearing liabilities.

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			The fair market value adjustment on investment securities resulting from ASC 320, “Investments – Debt and Equity Securities” is included as a component of other assets.

70

Asset/Liability Management