Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 73

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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ities and normal amortization. Further, the average rate earned on total average interest earning assets climbed 25 bps to 5.52%, as the previously mentioned loan growth, coupled with the repricing of matured/renewed loans and investment securities at higher rates, lifted yields compared to the prior period.

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			Average total loan balances increased $773 million, or 13%, for the three months ended June 30, 2025, compared to the same period of 2024. While the CRE category drove a significant portion of the period over period growth, C&I lines of credit and residential real estate also experienced strong growth.

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			Average investment securities declined $154 million, or 10%, for the three months ended June 30, 2025 compared to the same period of 2024, mainly as the result of significant scheduled maturities within the treasury portfolio, and to a lesser extent, normal amortization activity. The funding provided by this activity has benefitted interest-earning asset yields and overall NIM, as the low-yielding treasury securities helped fund Bancorp’s substantial loan growth, were reinvested for collateral pledging purposes at higher rates, or shifted into higher-yielding cash balances.

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			Average FFS and interest bearing due from bank balances increased $91 million, or 58%, for the three months ended June 30, 2025, which was largely the result of the previously mentioned liquidity provided by the investment securities portfolio in addition to deposit growth outpacing loan growth.

Total interest income (FTE) increased $14.7 million, or 15%, to $115.1 million for the three months ended June 30, 2025, as compared to the same period of 2024.

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			Interest and fee income (FTE) on loans increased $13.0 million, or 14%, to $103.1 million for the three months ended June 30, 2025, compared to the same period of 2024, driven mainly by loan growth. The yield on the overall loan portfolio increased 7 bps to 6.13% for the three months ended June 30, 2025 compared to 6.06% for the same period of the prior year.

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			Despite the decline in average investment securities, there was a $948,000, or 12%, increase in interest income (