Company: SYBT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001437749-25-024786
Chunk: 91

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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			2024

			Investment advisory

			$
			4,301

			$
			4,174

			$
			8,571

			$
			8,486

			Personal trust

			3,329

			3,876

			6,796

			7,650

			Personal investment retirement

			1,991

			1,886

			4,007

			3,706

			Company retirement

			398

			413

			809

			824

			Foundation and endowment

			325

			334

			663

			664

			Custody and safekeeping

			66

			57

			134

			116

			Brokerage and insurance services

			11

			2

			18

			4

			Other

			62

			53

			132

			116

			Total WM&T services income

			$
			10,483

			$
			10,795

			$
			21,130

			$
			21,566

The preceding table demonstrates that WM&T fee revenue is concentrated within investment advisory and personal trust accounts. WM&T fees are predominantly based on AUM and tailored for individual/company accounts and/or relationships with fee structures customized based on account type and other factors, with larger relationships paying a lower percentage of AUM in fees. For example, recurring AUM fee structures are in place for investment management, irrevocable and revocable trusts, personal investment retirement accounts and accounts holding only fixed income securities. WM&T also provides company retirement plan services, which can consist of a one-time conversion fee with recurring AUM fees to follow. While there are also fee structures for estate settlements, income received is typically non-recurring in nature. Fee structures are agreed upon at the time of account opening and any subsequent revisions are communicated in writing to the customer. As previously mentioned, WM&T fees earned are not performance-based nor are they based on investment strategy or transactions. Bancorp also earns management fees on in-house investments funds added through bank acquisitions.

AUM by Account Type:

AUM (not included on balance sheet) increased from $7.07 billion at December 31, 2024 to $7.19 billion at June 30,