Stock Yds Bancorp Stock Price, News & Analysis

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) is a Louisville, Kentucky-based bank holding company for Stock Yards Bank & Trust Company, a commercial bank established in 1904. Stock Yards Bancorp was incorporated in 1988 as a bank holding company and operates in the commercial banking industry within the finance and insurance sector. According to company disclosures, its common shares trade on The Nasdaq Stock Market under the symbol SYBT.

The company reports two primary operating segments: Commercial Banking and Wealth Management & Trust (WM&T). The Commercial Banking segment focuses on traditional banking activities, while the Wealth Management & Trust segment provides trust and wealth management services that generate fee-based income. Public information indicates that Stock Yards Bancorp generates the majority of its revenue from the Commercial Banking segment.

Business model and core services

According to available descriptions, Stock Yards Bancorp, through Stock Yards Bank & Trust Company, offers loan and deposit services, cash management services, securities brokerage activities, and mortgage origination, among other banking-related services. These activities support both interest income and non-interest income streams. Company earnings releases highlight net interest income as its largest source of revenue, supported by loan growth and deposit expansion across its markets.

The bank’s loan portfolio includes commercial and industrial lending, commercial real estate, residential real estate, construction and land development, and home equity lines of credit, as referenced in its earnings discussions. Management commentary emphasizes broad-based loan growth across categories and markets, along with credit quality metrics that the company describes as strong and stable. Deposit funding is diversified across non-interest-bearing and interest-bearing accounts, including time deposits, with management noting initiatives such as time deposit campaigns to support funding growth.

Geographic footprint and markets served

Stock Yards Bancorp states that it operates with offices in the Louisville, central, eastern and northern Kentucky markets, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets. The company describes its combined enterprise as encompassing 73 branch offices across three contiguous states. Management characterizes this footprint as providing a diversified geographic and economic base, with recent expansion including a new Center Grove location in the Indianapolis metropolitan market and plans to extend into Bardstown, Kentucky and Liberty Township, Ohio, a suburb of Cincinnati.

Within this regional footprint, the company highlights continued loan and deposit growth in all markets over multiple quarters. For example, management has noted that both the Indianapolis and Cincinnati markets have reached significant loan milestones since Stock Yards entered those markets, reflecting the company’s focus on organic growth in contiguous regions.

Wealth Management & Trust and fee-based businesses

The Wealth Management & Trust (WM&T) segment is a distinct contributor to non-interest income. Company reports describe WM&T income as driven by assets under management and related trust and investment services. Management commentary notes periods of both decline and growth in assets under management, with recent quarters showing increases attributed to positive market returns and new business development by its sales teams.

In addition to WM&T, Stock Yards Bancorp identifies several other fee-based revenue sources, including treasury management fees, card income, mortgage banking income, brokerage income, and other non-interest income such as swap fees, letter of credit fees and activity related to other real estate owned (OREO). Public statements highlight treasury management fees, brokerage income, and mortgage banking as important contributors to non-interest income, with treasury management fees and brokerage income reaching record levels in certain periods.

Financial profile and performance themes

While specific financial figures change over time, company earnings releases describe several recurring themes in Stock Yards Bancorp’s performance: net interest margin expansion driven by earning asset growth and yield improvements; loan growth across markets and categories; deposit growth supported by time deposit initiatives; and a funding mix that includes a significant share of non-interest-bearing deposits. The company also discusses the use of investment securities cash flows and overnight funds to support loan growth and liquidity.

Management commentary emphasizes credit quality, noting traditional credit quality statistics that it describes as strong at quarter-end in recent reporting periods. The company also discusses provisions for credit losses on loans and off-balance-sheet exposures, tying these to loan growth, economic forecasts, and specific reserve allocations.

Recognition and industry positioning

Stock Yards Bancorp has been recognized in several industry evaluations. The company reports that it has been named to Piper Sandler’s Sm-All Stars list of top-performing small-cap banks and thrifts multiple times, including the “Class of 2025,” and that it has received the Raymond James Community Bankers Cup a total of 10 times, an award that the company states recognizes the top 10% of community banks nationwide based on measures such as profitability, operational efficiency and balance sheet strength. These recognitions are cited by management as external validation of its performance and strategy.

Corporate governance and leadership developments

Recent SEC filings and press releases describe several governance and leadership developments. The company’s Board of Directors appointed a new independent registered public accounting firm, BDO USA, P.C., as its auditor for the fiscal year ending December 31, 2025, following a request-for-proposal process. The Board also appointed David L. Hardy to the Boards of Directors of both Stock Yards Bancorp and Stock Yards Bank & Trust Company, with expectations that he will serve on the audit and trust committees.

In management, the company announced the appointment of Michael W. Woods as Senior Vice President and Principal Accounting Officer, responsible for areas including general accounting, SEC and regulatory reporting, treasury functions and budgeting. Another release details succession in the credit function, with William J. Otten to be promoted to Executive Vice President and Chief Credit Officer of Stock Yards Bancorp and Stock Yards Bank & Trust Company, while the long-serving Chief Credit Officer transitions to a senior advisory role before retirement. The company also announced leadership changes in commercial lending, including the promotion of John Hanks to Director of Commercial Lending, and market leadership appointments such as a Bowling Green Market President for Stock Yards Bank & Trust.

Dividends and shareholder returns

Stock Yards Bancorp regularly communicates dividend decisions through press releases and Form 8-K filings. In recent disclosures, the Board of Directors voted to increase the quarterly cash dividend to $0.32 per common share, and the company notes that it has raised its quarterly dividend rate multiple times over a multi-year period. The company attributes its ability to increase dividends to consistent profitability and capital strength, and characterizes dividend growth as part of its approach to enhancing long-term shareholder value.

Regulatory reporting and oversight

As a publicly traded bank holding company, Stock Yards Bancorp files reports with the U.S. Securities and Exchange Commission, including Forms 10-K, 10-Q and 8-K. Recent 8-K filings cover topics such as quarterly earnings announcements, dividend increases, the engagement of a new independent registered public accounting firm, and the appointment of directors and executive officers. These filings provide additional detail on the company’s financial condition, governance, and compensation arrangements for key executives.

FAQs about Stock Yards Bancorp, Inc. (SYBT)

• What is Stock Yards Bancorp, Inc.?
  Stock Yards Bancorp, Inc. is a bank holding company incorporated in 1988 and based in Louisville, Kentucky. It is the parent company of Stock Yards Bank & Trust Company, a commercial bank established in 1904.
• On which exchange does SYBT trade?
  The company states that its common shares trade on The Nasdaq Stock Market under the symbol SYBT.
• What industry does Stock Yards Bancorp operate in?
  Stock Yards Bancorp operates in the commercial banking industry within the broader finance and insurance sector.
• What are the company’s main business segments?
  According to company descriptions, Stock Yards Bancorp has two reportable operating segments: Commercial Banking and Wealth Management & Trust.
• What services does Stock Yards Bank & Trust Company provide?
  Public information indicates that the bank provides loan and deposit services, cash management services, securities brokerage activities, mortgage origination and other banking-related services.
• Where does Stock Yards Bancorp operate?
  The company reports that it has offices in the Louisville, central, eastern and northern Kentucky markets, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, with a network of 73 branch offices across three contiguous states.
• How does Stock Yards Bancorp generate revenue?
  Company earnings releases describe net interest income from lending and investing activities as its largest source of revenue, supplemented by non-interest income from Wealth Management & Trust, treasury management fees, card income, mortgage banking, brokerage income and other fee-based services.
• Has Stock Yards Bancorp received any industry recognition?
  Yes. The company reports that it has been named to Piper Sandler’s Sm-All Stars list of top-performing small-cap banks and thrifts multiple times, and that it has received the Raymond James Community Bankers Cup on several occasions.
• Does Stock Yards Bancorp pay dividends?
  Yes. Recent disclosures state that the Board of Directors has declared and increased quarterly cash dividends, including a quarterly dividend of $0.32 per common share, and that the company has raised its quarterly dividend rate multiple times over more than a decade.
• What recent leadership changes has the company announced?
  Recent announcements include the appointment of a new Principal Accounting Officer, the planned promotion of a new Chief Credit Officer, the promotion of a Director of Commercial Lending, the appointment of a new director to the Boards of the company and the bank, and the hiring of a Bowling Green Market President for Stock Yards Bank & Trust.