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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.
On March 11, 2021, Stock Yards Bancorp (NASDAQ: SYBT) announced that CEO James A. Hillebrand and CFO T. Clay Stinnett will hold virtual meetings with institutional investors on March 18, 2021, moderated by Raymond James. Discussion materials will be available on the company’s website by that date. Based in Louisville, Kentucky, Stock Yards Bancorp manages $4.6 billion in assets and operates through its bank, established in 1904. Its shares are publicly traded on NASDAQ under the symbol SYBT.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.27 per share, consistent with the previous quarter. This dividend will be paid on April 1, 2021, to shareholders on record as of March 12, 2021. With total assets of $4.6 billion, Stock Yards Bancorp has been a significant player in the banking sector since its establishment. This announcement highlights the company’s commitment to returning value to its shareholders.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced that CEO James A. Hillebrand and CFO T. Clay Stinnett will participate in the Keefe, Bruyette & Woods' Virtual Winter Financial Services Symposium on February 10th and 11th, 2021. They will also hold one-on-one meetings with institutional investors. Discussion materials from the event will be available on the company's website, www.syb.com, by February 10th. Stock Yards Bancorp, headquartered in Louisville, Kentucky, has assets of $4.6 billion and is the parent of Stock Yards Bank & Trust Company, founded in 1904.
Stock Yards Bancorp, Inc. (SYBT) announced its acquisition of Kentucky Bancshares, Inc. on January 27, 2021. The all-stock and cash transaction, valued at approximately $190 million, allows Kentucky Bancshares' shareholders to receive 0.64 shares of Stock Yards common stock and $4.75 in cash per share. The merger, expected to close in Q2 2021, combines assets of about $5.9 billion and broadens service offerings across 63 branches. The deal is projected to enhance Stock Yards’ earnings per share by 12.5% in the first full year post-acquisition.
Stock Yards Bancorp, Inc. (SYBT) reported record earnings for Q4 2020, with a net income of $17.7 million, or $0.78 per share, a 7% increase from Q4 2019. However, net income for 2020 was $58.9 million, down from $66.1 million in 2019, mainly due to increased loan loss provisioning amid the pandemic. The company experienced record loan growth of 24% year-over-year, totaling $3.5 billion, largely driven by participation in the PPP, which generated $13.6 million in revenue. Non-interest income rose 5% to $13.7 million, while non-interest expenses increased to $28.1 million, affecting margins.
Stock Yards Bancorp (NASDAQ: SYBT) has announced a quarterly cash dividend of $0.27 per common share, consistent with the previous quarter. This dividend will be distributed on December 31, 2020, to stockholders on record as of December 21, 2020. With $4.4 billion in assets, Stock Yards Bancorp operates in the Louisville, Indianapolis, and Cincinnati markets, emphasizing stability in its dividend policy.
Stock Yards Bancorp, Inc. (SYBT) reported a net income of $14.5 million for Q3 2020, down from $17.2 million YoY. Earnings per diluted share were $0.64, compared to $0.76 a year earlier. Key drivers included a 5% rise in net interest income due to PPP loans, despite a decline in non-interest income. Loan deferrals decreased significantly from 18% to 4% of total loans, reflecting improved credit quality. The bank maintained strong capital ratios and announced no share repurchases in 2020.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) announced that James A. (Ja) Hillebrand will take over as Chairman of the Board effective January 1, 2021, succeeding David P. Heintzman, who has been named Non-Executive Chairman. This change finalizes a succession plan initiated in 2018. Hillebrand, CEO since 2018, will lead the company in its strategic plans amidst ongoing challenges. Stock Yards Bancorp boasts $4.3 billion in assets and operates 40 offices across metropolitan areas, focusing on customer-centric banking services.
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