Stock Yards Bancorp, Inc. - SYBT STOCK NEWS

Stock Yards Bancorp, Inc. (SYBT) reported a challenging first quarter of 2022 with a net income of $7.9 million, down from $22.7 million year-over-year, mainly due to $19.5 million in merger expenses from the Commonwealth Bancshares acquisition. Despite this, the company achieved significant organic loan growth of 3% and record non-interest income of $19.2 million, primarily from wealth management and trust income. Total assets rose to $7.77 billion, driven by acquisitions and strong market performance. The net interest margin improved slightly, and a cash dividend of $0.28 per share was declared.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has completed its acquisition of Commonwealth Bancshares, Inc., enhancing its market presence in Louisville and expanding into Shelby County and Northern Kentucky. This merger includes Commonwealth Bank & Trust Company's 15 retail branches and aims to bolster Stock Yards' competitive standing as the largest privately-held bank in the Louisville metropolitan area. Customers will see no immediate changes, and both banks will maintain their operations until full integration scheduled for March 28, 2022.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced that its merger with Commonwealth Bancshares, Inc. has received necessary regulatory approvals from the Federal Reserve, Federal Deposit Insurance Corporation, and the Kentucky Department of Financial Institutions. The merger is set to close around March 7, 2022. Commonwealth operates 15 retail branches in Kentucky. The merger aims to enhance Stock Yards' market presence, although it carries risks related to integration and market conditions, including impacts from the COVID-19 pandemic.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT), headquartered in Louisville, Kentucky, has declared a quarterly cash dividend of $0.28 per common share, consistent with the previous quarter. This dividend will be paid on April 1, 2022, to stockholders of record by March 21, 2022. With total assets of $6.6 billion, Stock Yards Bancorp operates in multiple markets across Kentucky and parts of Indiana and Ohio, a testament to its significant local presence and stability since its establishment in 1988.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced participation in the Keefe, Bruyette & Woods’ Winter Financial Services Symposium on February 17-18, 2022. Key executives, including Chairman and CEO Ja Hillebrand and President Phil Poindexter, will engage in one-on-one meetings with institutional investors. The company, which has $6.6 billion in assets, was established in 1988 and operates through Stock Yards Bank & Trust Company, founded in 1904. Discussion materials for the event will be available on the company’s investor website before the symposium.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT), based in Louisville, Kentucky, announced participation in the 2022 Janney Bank CEO Forum from February 2-3. Chairman and CEO Ja Hillebrand, along with EVP and CFO T. Clay Stinnett, will engage with institutional investors during the event. The company, established in 1988 and with $6.6 billion in assets, operates Stock Yards Bank & Trust Company, founded in 1904. Management discussion materials will be available on their website by February 2, 2022.

Stock Yards Bancorp (NASDAQ: SYBT) reported a robust fourth quarter for 2021, with net income rising to $24.6 million ($0.92 per diluted share) compared to $17.7 million ($0.78 per diluted share) in Q4 2020. Total assets reached $6.65 billion, fueled by strong organic growth and a successful merger with Kentucky Bancshares. Non-interest income surged 36%, driven by record wealth management and card income. Total loans increased 18%, with notable contributions from the Central/Eastern Kentucky market. The company expects further growth from its upcoming merger with Commonwealth Bancshares.

Stock Yards Bancorp, Inc. (SYBT) has declared a quarterly cash dividend of $0.28 per common share, scheduled for payment on December 31, 2021. This dividend will benefit stockholders of record as of December 20, 2021. With assets totaling $6.2 billion, Stock Yards Bancorp operates in various regions, including Kentucky and parts of Indiana and Ohio. Founded in 1904, its parent company engages in banking and trust services.

Stock Yards Bancorp, Inc. (NASDAQ: SYBT), headquartered in Louisville, Kentucky, announced its participation in the 2021 Hovde Group Financial Services Conference from November 3rd to 5th. CEO Ja Hillebrand and CFO T. Clay Stinnett will engage with institutional investors during this event. The company, established in 1988 with $6.2 billion in assets, operates Stock Yards Bank & Trust Company, founded in 1904. Relevant management discussion materials will be available on their investor website by November 3, 2021.