Welcome to our dedicated page for Stock Yds Bancorp news (Ticker: SYBT), a resource for investors and traders seeking the latest updates and insights on Stock Yds Bancorp stock.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) is the parent company of Stock Yards Bank & Trust Company, a commercial bank established in 1904 and based in Louisville, Kentucky. This news page aggregates press releases and market updates related to the company’s commercial banking and wealth management activities across its Kentucky, Indiana and Ohio markets.
News about Stock Yards Bancorp often centers on quarterly and annual earnings, where the company discusses themes such as loan and deposit growth, net interest margin trends, credit quality metrics, and contributions from non-interest income sources like Wealth Management & Trust, treasury management, mortgage banking, brokerage and card income. These releases provide detail on how the Commercial Banking and Wealth Management & Trust segments are performing across the company’s regional footprint.
Investors and followers of SYBT can also find updates on dividend declarations and increases, including Board decisions to raise the quarterly cash dividend. Additional news items cover leadership and governance changes, such as the appointment of new directors, executive officers, market presidents and senior credit and lending leaders, as well as the engagement of a new independent registered public accounting firm.
Because Stock Yards Bancorp operates with offices in Louisville, central, eastern and northern Kentucky and in the Indianapolis and Cincinnati metropolitan markets, local expansion initiatives and new branch openings may also appear in company announcements. For anyone tracking SYBT stock, this page offers a centralized view of the company’s official communications, financial results commentary and strategic updates over time.
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Stock Yards Bancorp, Inc. (NASDAQ: SYBT) reported first quarter 2023 earnings of $29.0 million, or $0.99 per diluted share, marking a significant increase from $7.9 million, or $0.29 per share, in Q1 2022. Key drivers of this performance include steady organic loan growth and a strong capital position. Total loans, excluding PPP loans, grew by $456 million, or 10%, year-over-year. Net interest income rose 29% to $63.1 million, while non-interest income increased 15% to $22.0 million. However, total deposits declined by $34 million quarter-over-quarter due to seasonal factors, but grew by $36 million excluding public funds. Despite challenges in the current economic environment, the company maintains a robust liquidity position with over $3 billion available. The company's tangible common equity ratio improved to 7.74%.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.29 per common share. This dividend is scheduled for payment on April 3, 2023, to shareholders on record as of March 20, 2023. Based in Louisville, Kentucky, Stock Yards Bancorp has $7.50 billion in assets and operates primarily through its subsidiary, Stock Yards Bank & Trust Company, established in 1904. The company plays a significant role in the banking markets of Kentucky, Indianapolis, and Cincinnati.