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Stock Yards Bancorp, Inc. reports developments tied to its role as the bank holding company for Stock Yards Bank & Trust Company. The company provides commercial banking and Wealth Management & Trust services across Kentucky markets and the Indianapolis and Cincinnati metropolitan areas, with news commonly focused on loan and deposit growth, net interest income, credit quality, mortgage and commercial lending activity, and wealth management results.
Recurring updates also include quarterly cash dividends, executive and board succession, market-level leadership appointments, annual meeting matters, and capital-structure or governance disclosures. Completed bank acquisition activity adds to the company's public-company record through integration, board representation, and expanded banking and trust operations.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT), based in Louisville, Kentucky, will attend the Raymond James U.S. Bank Conference on September 7, 2022. CEO Ja Hillebrand and CFO T. Clay Stinnett will participate in one-on-one meetings with institutional investors during the event. The discussion materials will be available on the company's website www.syb.com before the conference date. Stock Yards Bancorp has $7.6 billion in assets and operates under the SYBT ticker on NASDAQ.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has announced an increase in its cash dividend to $0.29 per common share, payable on October 3, 2022, to shareholders on record as of September 19, 2022. This marks the 15th increase in quarterly dividends since 2012, leading to a cumulative increase of 118%. CEO James A. Hillebrand emphasized the firm's strong earnings and capital position as driving factors behind this decision, reflecting confidence in the company's performance and growth opportunities.
Stock Yards Bancorp (SYBT) reported strong second-quarter results for 2022, achieving net income of $26.8 million ($0.91 per diluted share), a significant increase from $4.2 million ($0.17 per diluted share) in Q2 2021. This growth was driven by organic loan expansion of $64 million and a 37% rise in net interest income, totaling $57 million. Non-interest income also surged by 39% to $21.9 million, showcasing robust performance in wealth management and trust services. Despite a slight decrease in deposits and tangible common equity, the company remains well-capitalized with strong asset quality.
Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has declared a quarterly cash dividend of $0.28 per common share, maintaining the previous quarter's amount. The dividend will be paid on July 1, 2022, to stockholders of record by June 20, 2022. With assets totaling $7.78 billion, Stock Yards Bancorp operates primarily in Kentucky and parts of Indiana and Ohio. The company was established in 1988 and is the parent of Stock Yards Bank & Trust Company, founded in 1904.
Stock Yards Bancorp, trading under SYBT, is set for a series of meetings with institutional investors in Boston on May 12, 2022. Philip S. Poindexter, President, and T. Clay Stinnett, EVP and CFO, will lead these discussions. The company, incorporated in 1988 and with assets totaling $7.78 billion, is the parent of Stock Yards Bank & Trust Company. Management's presentation materials will be available on the company's investor webpage, www.syb.com, before the meetings.
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.