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.
Stock Yards Bancorp (SYBT) reported record earnings for Q1 2021, with net income soaring 72% to $22.7 million, or $0.99 per share, fueled by core deposit growth and significant income from the SBA's PPP. Total loans rose 24% to $3.6 billion, and deposits increased by $1 billion over the past year. The company also announced an agreement to acquire Kentucky Bancshares, enhancing its market presence. However, net interest margin contracted to 3.39%, reflecting lower interest rates.
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.
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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.
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