Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 31

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 31
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			590,977

			Obligations of states and political subdivisions

			—

			114,234

			—

			114,234

			Other

			—

			2,530

			—

			2,530

			Total available for sale debt securities

			198,215

			791,899

			—

			990,114

			Mortgage loans held for sale

			—

			6,286

			—

			6,286

			Rate lock loan commitments

			—

			255

			—

			255

			Mandatory forward contracts

			—

			56

			—

			56

			Interest rate swap assets

			—

			12,437

			—

			12,437

			Total assets

			$
			198,215

			$
			810,933

			$
			—

			$
			1,009,148

			Liabilities:

			Interest rate swap liabilities

			$
			—

			$
			8,589

			$
			—

			$
			8,589

There were no transfers into or out of Level 3 of the fair value hierarchy during 2025 or 2024. 

36

Discussion of assets measured at fair value on a non-recurring basis follows:

Collateral dependent loans – For collateral-dependent loans where Bancorp has determined that the liquidation or foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the estimated fair value of the collateral and the amortized cost basis of the loan as of the measurement date. For real estate loans, fair value of the loan’s collateral is determined by third party or internal appraisals, which are then adjusted for the estimated selling and closing costs related to liquidation of the collateral. For this asset class, the actual valuation methods (income, comparable sales, or cost) vary based on the status of the project or property. The unobservable inputs may vary depending on the individual assets with no one of the three methods being the predominant approach. Bancorp reviews the third party appraisal for appropriateness and adjusts the value to consider selling and closing costs, which typically range from