Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 61

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 606, nor were any recognized during the three and nine month periods ended September 30, 2025.

56

			(24) 

			Leases

Bancorp has operating leases for various locations with terms ranging from approximately nine months to 21 years, several of which include options to extend the leases in five-year increments. Options reasonably expected to be exercised are included in determination of the right-of-use asset. Bancorp elected to use a practical expedient to expense short-term lease obligations associated with leases with original terms of 12 months or less. Bancorp elected not to separate non-lease components from lease components for its operating leases. The right-of-use lease asset and operating lease liability are recorded in premises and equipment and other liabilities on the consolidated balance sheet.

Balance sheet, income statement and cash flow detail regarding operating leases follows:

			(dollars in thousands)

			September 30, 2025

			December 31, 2024

			Balance Sheet

			Operating lease right-of-use asset

			$
			30,844

			$
			29,695

			Operating lease liability

			32,478

			31,194

			Weighted average remaining lease term (years)

			10.4

			10.8

			Weighted average discount rate

			3.68
			%

			3.69
			%

			Maturities of lease liabilities:

			One year or less

			$
			994

			$
			3,955

			Year two

			4,057

			3,869

			Year three

			3,999

			3,881

			Year four

			4,045

			3,924

			Year five

			3,971

			3,794

			Greater than five years

			22,492

			19,120

			Total lease payments

			$
			39,558

			$
			38,543

			Less imputed interest

			7,080

			7,349

			Total

			$
			32,478

			$
			31,194

			Three months ended 

			Three months ended

			(in thousands)

			September 30, 2025