Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 18

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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	December 31,

			(in thousands)

			2025

			2024

			Credit cards

			Performing

			$
			26,109

			$
			24,370

			Non-performing

			188

			170

			Total credit cards

			$
			26,297

			$
			24,540

Bancorp had $509,000 and $569,000, respectively, in residential real estate loans for which formal foreclosure proceedings were in process at March 31, 2025 and December 31, 2024.

Modifications to Borrowers Experiencing Financial Difficulty

During the three month periods ended March 31, 2025 and 2024 there were no modifications made to loans for borrowers experiencing financial difficulty and there were no payment defaults of existing modified loans within 12 months following modification. Default is determined at 90 days or more past due, charge off, or foreclosure.

26

			(4)

			Goodwill 

As of March 31, 2025 and December 31, 2024, goodwill totaled $194 million, of which $172 million was attributed to the commercial banking segment and $22 million is attributed to WM&T.

The composition of goodwill presented by respective acquisition and year follows:

			March 31,

			December 31,

			(in thousands)

			2025

			2024

			Commonwealth Bancshares (2022)

			$
			58,244

			$
			58,244

			Kentucky Bancshares (2021)

			123,317

			123,317

			King Southern Bancorp (2019)

			11,831

			11,831

			Austin State Bank (1996)

			682

			682

			Total

			$
			194,074

			$
			194,074

Note: The acquisition of The Bank Oldham County in 2013 resulted in a bargain purchase gain.

GAAP requires that goodwill and intangible assets with indefinite useful lives not be amortized, but instead be tested for impairment at least annually. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. Bancorp’s annual goodwill impairment test is conducted as of September 30 of each year or more often as situations dictate.

At September 30, 202