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

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 25
---
 and were secured by government sponsored enterprise obligations and government agency mortgage-backed securities that were owned and controlled by Bancorp.

Information concerning SSUAR follows:

			(dollars in thousands)

			June 30, 2025

			December 31, 2024

			Outstanding balance at end of period

			$
			126,576

			$
			162,967

			Weighted average interest rate at end of period

			1.96
			
			%

			2.10
			
			%

			Three months ended

			Six months ended

			June 30,

			June 30,

			(dollars in thousands)

			2025

			2024

			2025

			2024

			Average outstanding balance during the period

			$
			128,493

			$
			147,327

			$
			143,655

			$
			156,153

			Average interest rate during the period

			1.95
			
			%

			2.10
			
			%

			2.02
			%

			2.19

			Maximum outstanding at any month end during the period

			$
			151,222

			$
			152,948

			$
			151,483

			$
			179,428

34

			(10) 

			Subordinated Debentures 

As a result of its acquisition of Commonwealth Bancshares, Inc. on March 7, 2022, Bancorp became the 100% successor owner of the following unconsolidated trust subsidiaries: Commonwealth Statutory Trust III, Commonwealth Statutory Trust IV and Commonwealth Statutory Trust V. The sole assets of the trust subsidiaries represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the TPS. The TPS are treated as part of Tier I Capital. The subordinated notes and related interest expense are included in Bancorp’s consolidated financial statements. The subordinated notes are currently redeemable at Bancorp’s option on a quarterly basis. Bancorp chose not to redeem the subordinated notes on July 1, 2025 and carried the notes at the costs noted below at June 30, 2025:

			(dollars in thousands)

			Face Value

			Carrying 

			Value