Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 5

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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 stockholders’ equity.

Accrued interest on the investment securities portfolio (AFS and HTM) totaled $4 million and $5 million at March 31, 2025 and December 31, 2024, respectively. Accrued interest receivable on the investment securities portfolios is included in the condensed consolidated balance sheets.

Securities with a carrying value of $881 million and $852 million were pledged at March 31, 2025 and December 31, 2024, respectively, to secure accounts of commercial depositors in cash management accounts, public deposits and uninsured cash balances for certain WM&T accounts.

Based on an evaluation of available information including security type, counterparty credit quality, past events, current conditions, and reasonable and supportable forecasts that are relevant to collectability, Bancorp has concluded that it expects to receive all contractual cash flows from each security held in its AFS and HTM debt securities portfolio. As such, no allowance or impairment was recorded with respect to investment securities as of March 31, 2025 and December 31, 2024.

12

Unrealized and Unrecognized Loss Analysis on Debt Securities

Debt securities with unrealized and unrecognized losses at March 31, 2025 and December 31, 2024, aggregated by investment category and length of time securities have been in a continuous unrealized loss position follows:

			AFS Debt Securities

			Less than 12 months

			12 months or more

			Total

			(in thousands)

			Fair

			Unrealized

			Fair

			Unrealized

			Fair

			Unrealized

			March 31, 2025

			value

			losses

			value

			losses

			value

			losses

			U.S. Treasury and other U.S. Government obligations

			$
			247,821

			$
			(14
			)
			 
			$
			-

			$
			-

			$
			247,821

			$
			(14
			)

			Government sponsored enterprise obligations

			5,713

			(48
			)

			72,185

			(3,786
			)

			77,898

			(3,834
			)

			Mortgage-backed securities - government agencies

			18,016