Stock Yards Bancorp, Inc. Goodwill & Intangibles Disclosure

(6) Goodwill

 

As of December 31, 2025 and 2024, goodwill totaled $194 million, of which $172 million was allocated to the commercial banking segment and $22 million was allocated to the WM&T segment.

 

Goodwill, as recognized at the time of acquisition for each respective acquisition, is included in the table below:

 

December 31, (in thousands)		2025				2024
Commonwealth Bancshares (2022)		$	58,244			$	58,244
Kentucky Bancshares (2021)			123,317				123,317
King Southern Bancorp (2019)			11,831				11,831
Austin State Bank (1996)			682				682
Total		$	194,074			$	194,074

 

Note: The acquisition of The Bank Oldham County in 2013 resulted in a bargain purchase gain.

 

Goodwill and intangible assets with indefinite useful lives are not amortized, but instead be tested for impairment at least annually. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. In 2025, Bancorp changed its annual goodwill impairment testing date from September 30 to October 1 of each year, or more often as circumstances dictate. The change was applied prospectively and was not material to the Company’s consolidated financial statements, as it did not delay, accelerate or avoid an impairment charge.

 

At September 30, 2025 and October 1, 2025, Bancorp elected to perform a qualitative assessment to determine if it was more-likely-than-not that the fair value of the reporting units exceeded their carrying value, including goodwill. The qualitative assessments indicated that it was not more-likely-than-not that the carrying value of the reporting units exceeded their fair value.

 

There were no changes to the carrying value of goodwill for the years ended December 31, 2025, 2024, nor 2023.