Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 37

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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 activities primarily include residential mortgage originations and servicing. Mortgages originated and intended for sale in the secondary market are carried at fair value, as determined by outstanding commitments from investors.

Activity for mortgage loans held for sale, at fair value, was as follows:

			Three months ended

			Six months ended

			June 30,

			June 30, 

			(in thousands)

			2025

			2024

			2025

			2024

			Balance, beginning of period:

			$
			7,797

			$
			6,462

			$
			6,286

			$
			6,056

			Origination of mortgage loans held for sale

			37,536

			29,196

			68,063

			51,464

			Proceeds from the sale of mortgage loans held for sale

			(41,142
			)

			(29,903
			)

			(70,712
			)

			(52,106
			)

			Net gain realized on sale of mortgage loans held for sale

			823

			683

			1,377

			1,024

			Balance, end of period

			$
			5,014

			$
			6,438

			$
			5,014

			$
			6,438

The following table represents the components of Mortgage banking income:

			Three months ended

			Six months ended

			June 30,

			June 30,

			(in thousands)

			2025

			2024

			2025

			2024

			Net gain realized on sale of mortgage loans held for sale

			$
			823

			$
			683

			$
			1,377

			$
			1,024

			Net change in fair value recognized on loans held for sale

			(92
			)

			(3
			)

			(24
			)

			31

			Net change in fair value recognized on rate lock loan commitments

			(134
			)

			(108
			)

			221

			149

			Net change in fair value recognized on forward contracts