Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 71

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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712

			40,614

			2.63

			5,535,128

			36,475

			2.65

			Non-interest bearing liabilities:

			Non-interest bearing demand deposits

			1,426,088

			1,500,602

			Accrued interest payable and other

			260,067

			256,605

			Total liabilities

			7,939,867

			7,292,335

			Stockholders’ equity

			954,040

			861,029

			Total liabilities and stockholders' equity

			$
			8,893,907

			$
			8,153,364

			Net interest income

			$
			70,636

			$
			60,167

			Net interest spread

			2.83
			%

			2.49
			%

			Net interest margin

			3.46
			%

			3.20
			%

61

Supplemental Information - Average Balance Sheets and Interest Rates (FTE)

			●

			Average loan balances include the principal balance of non-accrual loans, as well as unearned income such as loan premiums, discounts, fees/costs and exclude participation loans accounted for as secured borrowings. Participation loans accounted for as secured borrowings averaged $2 million and $4 million for the three month periods ended March 31, 2025 and 2024, respectively. 

			●

			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 $84,000 and $97,000 for the three month periods ended March 31, 2025 and 2024, respectively.

			●

			Interest income includes loan fees of $1.8 million and $1.5 million for the three month periods ended March 31, 2025 and 2024 respectively. Interest income on loans may be materially impacted by the level of prepayment fees collected and net accret