Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 121

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 considers an adjusted efficiency ratio. Bancorp believes it is important because it provides a comparable ratio after eliminating net gains (losses) on sales, calls, and impairment of investment securities, as well as net gains (losses) on sales of premises and equipment and disposition of any acquired assets, if applicable, and the fluctuation in non-interest expenses related to amortization of investments in tax credit partnerships and non-recurring merger expenses, if applicable.

			Three months ended June 30, 

			Six months ended June 30, 

			(dollars in thousands)

			2025

			2024

			2025

			2024

			Total non-interest expenses (a)

			$
			52,700

			$
			49,109

			$
			103,727

			$
			98,070

			Total net interest income, FTE

			$
			73,560

			$
			62,113

			$
			144,196

			$
			122,279

			Total non-interest income

			24,348

			23,655

			47,344

			46,926

			Total revenue - Non-GAAP (b)

			$
			97,908

			$
			85,768

			$
			191,540

			$
			169,205

			Less: Gain/loss on sale of premises and equipment

			(74
			)

			(20
			)

			(74
			)

			(20
			)

			Total adjusted revenue - Non-GAAP (c)

			$
			97,834

			$
			85,748

			$
			191,466

			$
			169,185

			Efficiency ratio - Non-GAAP (a/b)

			53.83
			%

			57.26
			%

			54.15
			%

			57.96
			%

			Adjusted efficiency ratio - Non-GAAP (a/c)

			53.87
			%

			57.27
			%

			54.18
			%

			57.97
			%

89

Item 3.          Quantitative and Qualitative