Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 71

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 Treasury note rate at period end

			3.79
			%

			4.33
			%

			(54) bps

			-12
			%

			Average five year Treasury note rate

			4.11
			%

			4.30
			%

			(19) bps

			-4
			%

			Prime rate at period end

			7.50
			%

			8.50
			%

			(100) bps

			-12
			%

			Average Prime rate

			7.50
			%

			8.50
			%

			(100) bps

			-12
			%

			One month term SOFR at period end

			4.33
			%

			5.34
			%

			(101) bps

			-19
			%

			Average one month term SOFR

			4.32
			%

			5.33
			%

			(101) bps

			-19
			%

*See table titled, "Average Balance Sheets and Interest Rates (FTE)" for detail of Net interest income (FTE). 

NIM and net interest spread calculations above exclude the sold portion of certain participation loans, which totaled $2 million at both June 30, 2025 and December 31, 2024, respectively. These sold loans are on Bancorp’s balance sheet as required by GAAP because Bancorp retains some form of effective control; however, Bancorp receives no interest income on the sold portion. These participation loans sold are excluded from NIM and spread analysis, as Bancorp believes it provides a more accurate depiction of loan portfolio performance.

At June 30, 2025, Bancorp’s loan portfolio consisted of approximately 64% fixed and 36% variable rate loans. At inception, most of Bancorp’s fixed rate loans are generally priced in relation to the five year treasury note. Bancorp’s variable rate loans are typically indexed to either Prime or one month term SOFR, repricing as those rates change. At June 30, 2025, approximately 56% and 44% of Bancorp’s variable rate loan portfolio was indexed to Prime and SOFR, respectively.

Prime rate, the five year treasury note rate