Stock Yards Bancorp, Inc. ( (SYBT) ) has released its Q3 earnings. Here is a breakdown of the information Stock Yards Bancorp, Inc. presented to its investors.
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Stock Yards Bancorp, Inc., headquartered in Louisville, Kentucky, operates as a bank holding company primarily engaged in providing a range of financial services through its subsidiary, Stock Yards Bank & Trust Company, across Kentucky, Indiana, and Ohio.
Stock Yards Bancorp has reported record earnings for the third quarter of 2025, with a net income of $36.2 million, or $1.23 per diluted share, marking a significant increase from the same period last year. This performance was driven by robust loan and deposit growth, alongside strong credit quality metrics.
Key financial highlights include a 19% increase in net interest income to $77.0 million, supported by a 10% growth in total loans and a 14% expansion in deposits over the past year. The company’s net interest margin also improved to 3.56%, reflecting effective asset growth and yield expansion. Additionally, the Cincinnati market achieved a milestone of $1 billion in total loans, showcasing the company’s strategic growth in new markets.
Non-interest income saw a slight decrease compared to the previous year, although there was growth in mortgage banking and brokerage income. Non-interest expenses rose by 11%, primarily due to increased compensation and marketing expenses. The company’s efficiency ratio improved slightly, indicating effective cost management.
Looking ahead, Stock Yards Bancorp remains optimistic about its growth trajectory, focusing on organic growth and maintaining a stable funding base. However, potential interest rate cuts could pose challenges to the net interest margin. The company plans to continue expanding its geographic footprint with new branch openings by the end of the year.