“Stock Yards again delivered record earnings for the quarter, supported by strong revenue generation, substantial deposit growth, a release of credit loss reserves and controlled operating expenses,” said James A. (Ja) Hillebrand, Chairman and Chief Executive Officer. “In addition to our financial performance, a highlight of the quarter was the signing of a definitive agreement to acquire Kentucky Bancshares, Inc. This transaction expands our presence into the attractive Central Kentucky market and represents a complementary fit with our organization. The combination of our two companies provides the opportunity to create efficiencies and enhance the value of the combined entity while offering Kentucky Bank customers broader product offerings, increased lending capabilities and an expanded branch delivery system that stretches throughout the Louisville, Indianapolis and Northern Kentucky/Cincinnati metropolitan markets. We remain on track to welcome Kentucky Bank to the Sto
Quarterly Results
Earnings per share increased 67.80% year over year to $0.99, which beat the estimate of $0.74.
Revenue of $51,669,000 higher by 14.87% from the same period last year, which beat the estimate of $50,270,000.
Looking Ahead
Stock Yards Bancorp hasn t issued any revenue guidance for the time being.
Recent Stock Performance
52-week low: $26.52
Company Profile
Stock Yards Bancorp Inc operates as a bank. The bank has two reportable operating segments namely Commercial Banking and Wealth management and trust. Its services include loan and deposit services, cash management services, securities brokerage activities, mortgage origination, and others. It generates a majority of its revenue from the Commercial Banking segment.
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