Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 86

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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3.26
			%

68

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

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			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 for the three month periods ended both September 30, 2025 and 2024, respectively. Participation loans accounted for as secured borrowings averaged $2 million and $3 million for the nine month periods ended September 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 $82,000 and $85,000 for the three month periods ended September 30, 2025 and 2024, respectively, and $253,000 and $273,000 for the nine month periods ended September 30, 2025 and 2024, respectively.

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			Interest income includes loan fees of $1.3 million and $1.7 million for the three month periods ended September 30, 2025 and 2024, respectively, and $4.3 million and $4.6 million for the nine month periods ended September 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 $375,000 and $467,000 for the three month periods ended September 30, 2025 and 2024, respectively, and $1.1 million and $1.8 million for the nine month periods ended September 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,