Company: SYBT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001437749-25-014698
Chunk: 26

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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 and repayments related to FHLB advances totaled $775 million and $775 million, respectively. Net proceeds and repayments related to FHLB advances (excluding those with maturities of 90 days or less) totaled $300 million and $300 million for the three months ended March 31, 2025. For the three month period ended March 31, 2024, gross proceeds and repayments totaled $725 million and $725 million, respectively. Net proceeds and repayments (excluding those with maturities of 90 days or less) for the three month period ended March 31, 2024 totaled $200 million and $200 million.

Information regarding FHLB advances follows. The average interest rate information provided includes the benefit associated with the related interest rate swaps:

			(dollars in thousands)

			March 31, 2025

			December 31, 2024

			Outstanding balance at end of period

			$
			300,000

			$
			300,000

			Weighted average interest rate at end of period

			3.97
			
			%

			3.77
			
			%

FHLB advances are collateralized by certain CRE and residential real estate mortgage loans under blanket mortgage collateral pledge agreements. Bancorp views these advances as an effective lower-costing funding option compared to other alternatives, such as brokered deposits, to fund loan growth. At March 31, 2025 and December 31, 2024, the amount of available credit from the FHLB totaled $1.27 billion and $1.25 billion, respectively.

Bancorp also had unsecured available FFP lines with correspondent banks totaling $80 million at both March 31, 2025 and December 31, 2024, respectively.

33

			(12)

			Commitments and Contingent Liabilities

As of March 31, 2025 and December 31, 2024, Bancorp had various commitments outstanding that arose in the normal course of business which are properly not reflected in the condensed consolidated financial statements. Total off-balance sheet commitments to extend credit follows:

			(in thousands)

			March 31, 2025

			December 31, 2024

			Commercial and industrial

			$
			873,629

			$
			876,503

			Construction and development

			566,