Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 24

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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ix months ended

			June 30,

			June 30,

			(in thousands)

			2025

			2024

			2025

			2024

			Proportional amortization method:

			Tax credits and other tax benefits recognized

			$
			5,705

			$
			3,469

			$
			11,409

			$
			7,122

			Amortization expense in provision for income taxes

			4,446

			2,920

			8,893

			5,826

There were no impairment losses related to Bancorp’s investments in tax credit partnerships during the three and six month periods ended June 30, 2025 and 2024.

33

			(8) 

			Deposits

The composition of deposits follows:

			(in thousands)

			June 30, 2025

			December 31, 2024

			Non-interest bearing demand deposits

			$
			1,514,924

			$
			1,456,138

			Interest bearing deposits:

			Interest bearing demand

			2,520,405

			2,649,142

			Savings

			424,985

			419,355

			Money market

			1,385,845

			1,403,978

			Time deposits of $250 thousand or more

			548,179

			365,024

			Other time deposits

			1,112,412

			872,764

			Total time deposits

			1,660,591

			1,237,788

			Total interest bearing deposits

			5,991,826

			5,710,263

			Total deposits

			$
			7,506,750

			$
			7,166,401

			(9) 

			Securities Sold Under Agreements to Repurchase

SSUAR represent a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one business day from the transaction date. At June 30, 2025 and December 31, 2024, all of these financing arrangements had overnight maturities