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Stock Yards Bancorp, Inc. (NASDAQ: SYBT) is a distinguished financial institution with roots dating back to 1904. Originally established to serve the Louisville livestock industry, the company has significantly evolved, becoming a nationally recognized bank for its exceptional service and robust financial performance. Headquartered in Louisville, Kentucky, Stock Yards Bancorp operates through its wholly owned subsidiary, Stock Yards Bank & Trust Co.
The bank operates in two primary segments: Commercial Banking and Wealth Management and Trust. The Commercial Banking segment offers a wide range of services, including loan and deposit services, cash management, and mortgage origination. This segment is the main revenue driver for the company. The Wealth Management and Trust segment provides personalized services such as securities brokerage and wealth advisory, catering to clients' long-term financial needs.
Stock Yards Bancorp has a significant presence in multiple markets, including Louisville, Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio. With assets totaling $2.51 billion, the bank competes with national banks while maintaining a strong focus on building meaningful relationships with its customers.
Recent achievements include strong loan growth and excellent credit quality, contributing to the company's solid financial performance. For the fourth quarter ended December 31, 2023, Stock Yards Bancorp reported earnings of $23.9 million, or $0.82 per diluted share. Despite a slight decrease from the previous year's fourth quarter earnings, the company achieved a record net income of $107.7 million for the full year 2023, demonstrating remarkable resilience and operational efficiency.
Stock Yards Bancorp is committed to maintaining high standards of service. As a Member FDIC and an Equal Housing Lender, the company adheres to stringent regulatory requirements, ensuring the safety and soundness of its operations. With its comprehensive suite of financial products and services, Stock Yards Bancorp continues to support the financial well-being of its clients and communities.
Stock Yards Bancorp (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.31 per common share, payable on December 31, 2024, to stockholders of record as of December 16, 2024. The company, with $8.44 billion in assets, operates through Stock Yards Bank & Trust Company across Louisville, central, eastern and northern Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio metropolitan markets.
Stock Yards Bancorp (NASDAQ: SYBT) has announced its participation in the Piper Sandler 2024 East Coast Financial Services Conference on November 13th and 14th. Chairman and CEO Ja Hillebrand and EVP/CFO T. Clay Stinnett will engage in meetings with institutional investors during the conference.
The company, with $8.4 billion in assets, operates through Stock Yards Bank & Trust Company across Louisville, central, eastern and northern Kentucky, Indianapolis, and Cincinnati metropolitan markets. Management's discussion materials for the conference will be available on the company's website (www.syb.com) by November 13, 2024.
Stock Yards Bancorp (NASDAQ: SYBT) has announced its participation in the 2024 Hovde Group Financial Services Conference from November 6th to 8th. Chairman and CEO Ja Hillebrand and EVP/CFO T. Clay Stinnett will engage in meetings with institutional investors during the conference. The company will post management's discussion materials on their website www.syb.com by November 6th, 2024.
Stock Yards Bancorp, based in Louisville, Kentucky, manages $8.4 billion in assets and operates through Stock Yards Bank & Trust Company across Louisville, central, eastern and northern Kentucky, Indianapolis, and Cincinnati metropolitan markets.
Stock Yards Bancorp (NASDAQ: SYBT) reported record third quarter earnings of $29.4 million, or $1.00 per diluted share, compared to $27.1 million ($0.92 per share) in Q3 2023. The company saw total loans increase by $661 million (12%) year-over-year, with $207 million growth in Q3. Deposits expanded by $323 million (5%) over 12 months. Net interest income rose to $65.0 million, up 6% from Q3 2023, while net interest margin was 3.33%. Non-interest income grew 8% to $24.8 million, driven by wealth management, treasury fees, and card income. The company maintained strong asset quality with non-performing loans at 0.27% of total loans.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has been named to Piper Sandler's Sm-All Stars: Class of 2024 list for top-performing small-cap banks and thrifts. The company is one of only 30 banks in the U.S. to receive this recognition, which is based on metrics including growth, profitability, credit quality, and capital strength. This marks the sixth time Stock Yards Bancorp has been included in the list, previously in 2008, 2011, 2019, 2020, and 2022.
James A. Hillebrand, Chairman and CEO, stated that this recognition is a testament to the company's solid foundation for long-term growth and the dedication of the entire Stock Yards team. Stock Yards Bancorp, with $8.32 billion in assets, is the parent company of Stock Yards Bank & Trust Company, established in 1904. The company operates in Louisville, central, eastern, and northern Kentucky, as well as Indianapolis, Indiana, and Cincinnati, Ohio metropolitan markets.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT), the parent company of Stock Yards Bank & Trust Company, has announced its participation in the Stephens 2024 Annual Bank Forum on September 17th and 18th. Key executives, including Ja Hillebrand (Chairman and CEO), Philip S. Poindexter (President), and T. Clay Stinnett (EVP and CFO), will engage in meetings with institutional investors during the event.
The company, headquartered in Louisville, Kentucky, boasts $8.32 billion in assets and operates offices across Kentucky, Indiana, and Ohio. Stock Yards Bancorp will make its management discussion materials available on its website, www.syb.com, by September 17, 2024. Founded in 1988, the company oversees Stock Yards Bank & Trust Company, which has been in operation since 1904.
Stock Yards Bancorp (NASDAQ: SYBT) has announced its participation in the Raymond James 2024 U.S. Bank and Banking on Tech Conferences from September 4th to 5th. Philip S. Poindexter, President, and senior management will engage in one-on-one meetings with institutional investors. The company will post discussion materials on its website, www.syb.com, by September 4, 2024.
Stock Yards Bancorp, headquartered in Louisville, Kentucky, is a bank holding company with $8.32 billion in assets. It is the parent of Stock Yards Bank & Trust Company, established in 1904. The company operates in Louisville, central, eastern and northern Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio. Its shares trade on Nasdaq under the symbol SYBT.
Stock Yards Bancorp (NASDAQ: SYBT) has announced an increase in its quarterly cash dividend to $0.31 per common share, payable on October 1, 2024, to stockholders of record as of September 16, 2024. This marks the company's 17th dividend increase since 2011, representing a cumulative rise of 158% over that period. CEO James A. Hillebrand attributes this to the company's strong profitability and solid capital position.
Stock Yards Bancorp, headquartered in Louisville, Kentucky, is the parent company of Stock Yards Bank & Trust Company. With $8.32 billion in assets, it operates in Louisville, central, eastern and northern Kentucky, as well as Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets.
Stock Yards Bancorp (NASDAQ: SYBT) reported second-quarter 2024 earnings of $27.6 million, or $0.94 per diluted share, matching last year's results. Record loan growth and net interest margin expansion were key highlights. Net interest income rose by 2% to $62 million, driven by a $652 million increase in total loans over the past year. Non-interest income grew by 3% to $23.7 million, with strong contributions from Treasury Management and Wealth Management & Trust (WM&T) services.
Total deposits increased by $361 million, or 6%, despite a shift towards higher-cost deposits. Non-interest expenses climbed 7% due to higher compensation and benefits. Net interest margin improved to 3.26% from 3.20% in the previous quarter. The company maintained stable asset quality with non-performing loans at 0.29% of total loans. Total assets stood at $8.32 billion, with loans at $6.07 billion and deposits at $6.57 billion.
Stock Yards Bancorp continues to be well-capitalized, with a tangible common equity ratio of 8.42%. The company received the Raymond James Community Bankers Cup, recognizing its excellence in profitability and operational efficiency.
Stock Yards Bancorp (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.30 per common share, consistent with the previous quarter. The dividend will be paid on July 1, 2024, to shareholders of record as of June 17, 2024. Stock Yards Bancorp, headquartered in Louisville, Kentucky, operates in several regions including central, eastern, and northern Kentucky, as well as Indianapolis, Indiana, and Cincinnati, Ohio. The company, incorporated in 1988, manages $8.12 billion in assets and is the parent company of Stock Yards Bank & Trust Company, established in 1904.
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