Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 4

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 4
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 U.S. Government and/or are issued by U.S. Government-sponsored agencies and have an implicit or explicit government guarantee. Therefore, no ACL has been recorded for Bancorp’s HTM securities as of March 31, 2025. Further, as of March 31, 2025, none of Bancorp’s HTM securities were in non-accrual or past due status.

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Table of Contents

Debt Securities by Contractual Maturity

A summary of AFS and HTM debt securities by contractual maturity as of March 31, 2025 follows:

			AFS Debt Securities

			HTM Debt Securities

			(in thousands)

			Amortized cost

			Fair value

			Carrying value

			Fair value

			Due within one year

			$
			255,139

			$
			255,083

			$
			14

			$
			14

			Due after one year but within five years

			32,719

			31,413

			2,631

			2,568

			Due after five years but within 10 years

			95,161

			83,672

			22,338

			20,765

			Due after 10 years

			80,251

			76,104

			465

			451

			Mortgage backed securities - government agencies

			677,301

			587,967

			187,003

			165,219

			Total

			$
			1,140,571

			$
			1,034,239

			$
			212,451

			$
			189,017

Actual maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations with or without prepayment penalties. The investment portfolio includes MBS, which are guaranteed by agencies such as FHLMC, FNMA and GNMA. These securities differ from traditional debt securities primarily in that they may have uncertain principal payment dates and are priced based on estimated prepayment rates on the underlying collateral.

At March 31, 2025 and December 31, 2024, there were no holdings of debt securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of