Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 26

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 26
---

			Origination 

			Date

			Maturity 

			Date

			Interest Rate

			Commonwealth Statutory Trust III

			$
			3,093

			$
			3,093

			12/19/2003

			1/7/2034

			SOFR + 2.85%

			Commonwealth Statutory Trust IV

			12,372

			12,372

			12/15/2005

			12/30/2035

			SOFR + 1.35%

			Commonwealth Statutory Trust V

			11,341

			11,341

			6/28/2007

			9/15/2037

			SOFR + 1.40%

			Total

			$
			26,806

			$
			26,806

As part of the purchase accounting adjustments associated with the CB acquisition, the carrying values of the subordinated notes were adjusted to fair value at acquisition date. The related discounts on the subordinated notes have been amortized and recognized as a component of interest expense in Bancorp’s consolidated financial statements. The discounts became fully amortized during the first quarter of 2024.

			(11) 

			FHLB Advances and Other Borrowings

FHLB advances outstanding at June 30, 2025 consist of a rolling $300 million three-month advance that matures in August 2025, which Bancorp utilizes in conjunction with interest rate swaps in an effort to hedge cash flows. FHLB advances outstanding at December 31, 2024 consisted of a rolling $300 million three-month advance that matured in February 2025, which was also utilized in conjunction with the previously mentioned interest rate swaps.

For the six month period ended June 30, 2025, gross proceeds and repayments related to FHLB advances totaled $1.13 billion and $1.13 billion, respectively. Net proceeds and repayments related to FHLB advances (excluding those with maturities of 90 days or less) totaled $600 million and $600 million for the three months ended June 30, 2025. For the six month period ended June 30, 2024, gross proceeds and repayments totaled $1.58 billion and $1.38 billion, respectively. Net proceeds and repayments (excluding those with maturities of 90