Company: SYBT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033206
Chunk: 62

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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September 30, 2024

			Income Statement 

			Components of lease expense:

			Operating lease cost

			$
			1,047

			$
			1,057

			Variable lease cost

			91

			88

			Less sublease income

			19

			26

			Total lease cost

			$
			1,119

			$
			1,119

			Nine months ended

			Nine months ended

			(in thousands)

			September 30, 2025

			September 30, 2024

			Income Statement 

			Components of lease expense:

			Operating lease cost

			$
			3,142

			$
			3,215

			Variable lease cost

			280

			257

			Less sublease income

			70

			77

			Total lease cost

			$
			3,352

			$
			3,395

			Nine months ended

			Nine months ended

			(in thousands)

			September 30, 2025

			September 30, 2024

			Cash flow Statement

			Supplemental cash flow information:

			Operating cash flows from operating leases

			$
			3,308

			$
			3,567

As of September 30, 2025, Bancorp had entered into one lease agreement that had yet to commence.

57

			Item 2.

			Management’s Discussion and Analysis of Financial Condition and Results of Operations

Stock Yards Bancorp, Inc. (“Bancorp” or “the Company”), is a FHC headquartered in Louisville, Kentucky and is engaged in the business of banking through its wholly owned subsidiary, Stock Yards Bank & Trust Company (“SYB” or “the Bank”). Bancorp, which was incorporated in 1988 in Kentucky, is registered with, and subject to supervision, regulation and examination by, the Board of Governors of the Federal Reserve System. As Bancorp has no significant operations of its own, its business and the business of SYB are essentially the same. The operations of SYB are fully reflected in the consolidated financial statements of Bancorp. Accordingly, references to “Bancorp” in this document may encompass both the holding company and the Bank. All significant inter-company transactions and accounts