Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 38

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 38
---
(19
			)

			82

			(231
			)

			108

			Net gain recognized

			578

			654

			1,343

			1,312

			Net loan servicing income

			788

			817

			1,604

			1,778

			Amortization of mortgage servicing rights

			(402
			)

			(582
			)

			(1,133
			)

			(1,319
			)

			Change in mortgage servicing rights valuation allowance

			-

			-

			-

			-

			Net servicing income recognized

			386

			235

			471

			459

			Other mortgage banking income

			130

			128

			197

			194

			Total mortgage banking income

			$
			1,094

			$
			1,017

			$
			2,011

			$
			1,965

Activity for capitalized mortgage servicing rights was as follows:

			Three months ended

			Six months ended

			June 30,

			June 30,

			(in thousands)

			2025

			2024

			2025

			2024

			Balance, beginning of period

			$
			10,817

			$
			12,544

			$
			11,333

			$
			13,082

			Additions for mortgage loans sold

			291

			235

			506

			434

			Amortization

			(402
			)

			(582
			)

			(1,133
			)

			(1,319
			)

			Impairment

			—

			—

			—

			—

			Balance, end of period

			$
			10,706

			$
			12,197

			$
			10,706

			$
			12,197

42

The estimated fair value of MSRs at June 30, 2025 and December 31, 2024 was $23 million and $25 million, respectively. There was no valuation allowance recorded for MSRs as of June