Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 18

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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 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, 2024, Bancorp performed its annual qualitative assessment to determine if it was more-likely-than-not that the fair value of the reporting units exceeded their carrying value, including goodwill. The qualitative assessment indicated that it was not more-likely-than-not that the carrying value of the reporting units exceeded their fair value.

29

			(5) 

			Core Deposit and Customer List Intangible Assets

Bancorp recorded initial CDI assets of $13 million, $4 million, $2 million and $3 million in association with the acquisitions of CB in 2022, KB in 2021, KSB in 2019 and TBOC in 2013, respectively.

Changes in the net carrying amount of CDIs follows:

			Three months ended

			Six months ended

			June 30,

			June 30,

			(in thousands)

			2025

			2024

			2025

			2024

			Balance at beginning of period

			$
			8,406

			$
			11,272

			$
			8,978

			$
			11,944

			Amortization

			(573
			)

			(671
			)

			(1,145
			)

			(1,343
			)

			Balance at end of period

			$
			7,833

			$
			10,601

			$
			7,833

			$
			10,601

As a result of the CB