Earnings ·
Stock Yards Bancorp reports Q3 net income of $43.5M, or $1.40 per diluted share
SYBTStock Yards Bancorp, Inc.
Stock Yards Bancorp reported record third-quarter earnings of $43.5 million, or $1.40 per diluted share, up from $36.2 million in the prior-year period. Net interest income rose 20% to $92.6 million as net interest margin expanded 32 basis points to 3.88%. Non-interest income reached a record $27.6 million, driven by wealth management and treasury management fees. The company also announced that its board increased the quarterly cash dividend to $0.33 per share. Stock Yards Bancorp is a bank holding company operating in Kentucky, Indiana, and Ohio.