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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.
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