Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 75

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 75
---
2024, as the impact of significant loan growth on interest income far surpassed the increase in interest expense tied to interest bearing deposit growth.

Total average interest earning assets increased $802 million, or 10%, for the three months ended September 30, 2025, as compared to the same period of 2024, attributed to substantial average loan and interest-bearing cash balance growth that was partially offset by a decline in average investment securities driven by scheduled maturities and normal amortization. Further, the average rate earned on total average interest earning assets climbed 15 bps to 5.56%, as the previously mentioned loan growth, coupled with the repricing of matured/renewed loans at higher rates, lifted yields compared to the prior period.

63

			●

			Average total loan balances increased $699 million, or 11%, for the three months ended September 30, 2025, compared to the same period of 2024. While the CRE segment drove a significant portion of the period over period growth, the residential real estate, C&I lines of credit and C&D segments also experienced solid growth.

			●

			Average investment securities declined $188 million, or 13%, for the three months ended September 30, 2025 compared to the same period of 2024, mainly as the result of significant scheduled maturities within the treasury portfolio, and to a lesser extent, normal amortization activity. The funding provided by this activity has benefitted interest-earning asset yields and overall NIM, as the related liquidity has helped fund Bancorp’s substantial loan growth or shifted into interest-bearing cash balances.

			●

			Average FFS and interest bearing due from bank balances increased $300 million, or 202%, for the three months ended September 30, 2025, which was largely the result of the previously mentioned liquidity provided by the investment securities portfolio in addition to deposit growth outpacing loan growth.

Total interest income (FTE) increased $14.5 million, or 14%, to $120.3 million for the three months ended September 30, 2025, as compared to the same period of 2024.

			●

			Interest and fee income (FTE) on loans increased $11.5 million, or 12%, to $107.3 million for the three months ended September 30, 2025, compared to the same period of 2024, driven mainly by loan growth.