Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 56

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 two

			3,984

			3,869

			Year three

			3,999

			3,881

			Year four

			4,045

			3,924

			Year five

			3,918

			3,794

			Greater than five years

			21,434

			19,120

			Total lease payments

			$
			40,332

			$
			38,543

			Less imputed interest

			8,264

			7,349

			Total

			$
			32,068

			$
			31,194

			Three months ended 

			Three months ended

			(in thousands)

			March 31, 2025

			March 31, 2024

			Income Statement

			Components of lease expense:

			Operating lease cost

			$
			1,048

			$
			1,046

			Variable lease cost

			93

			83

			Less sublease income

			26

			26

			Total lease cost

			$
			1,115

			$
			1,103

			Three months ended

			Three months ended

			(in thousands)

			March 31, 2025

			March 31, 2024

			Cash flow Statement

			Supplemental cash flow information:

			Operating cash flows from operating leases

			$
			1,138

			$
			1,328

As of March 31, 2025, Bancorp has entered into one land lease agreement that has yet to commence.

54

Item 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations

Stock Yards Bancorp, Inc. (“Bancorp” or “the Company”), is a FHC headquartered in Louisville, Kentucky and is engaged in the business of banking through its wholly owned subsidiary, Stock Yards Bank & Trust Company (“SYB” or “the Bank”). Bancorp, which was incorporated in 1988 in Kentucky, is registered with, and subject to supervision, regulation and examination by, the Board of Governors of the Federal Reserve System. As Bancorp has no significant operations of its own, its business and the business of SYB