Stock Yards Bancorp Reports Record Third Quarter Earnings of $43.5 Million or $1.40 per Diluted Share
Key Highlights
- ➤Q3 net income $43.5 million, or $1.40 per diluted share, reaches a record
- ➤Net interest margin expanded 32 basis points year over year to 3.88%
- ➤Total loans increased 15% year over year to $7.99 billion
- ➤Field & Main merger contributed $7.8 million of Q3 net interest income
- ➤Total assets reached $10.26 billion; company targets year-end balance below $10 billion
Expert Statements
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“Stock Yards delivered another record quarter, with net interest margin expansion and broad-based strength in non-interest income driving earnings to a new high,”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“Loan growth was positive, but lighter than anticipated, as payoffs remained elevated and continued to offset solid production. While we expect payoff activity to remain a headwind in the near term, our pipeline is steady heading into the fourth quarter.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“Non-interest income was once again a highlight, with WM&T revenue, treasury management fees and brokerage income each reaching record levels, and card income also contributing to solid results.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“While total assets remained above the regulatory $10 billion threshold as of September 30, 2026, we remain committed to managing the balance sheet under $10 billion at year-end as we position the Company to officially transition across that threshold in 2027.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“In addition to organic growth, I am excited to report the first full quarter reflecting our successful merger with Field & Main Bancorp (“Field & Main”),”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“The acquisition is already making a meaningful contribution to our results, and shortly after quarter end, in mid-October, we completed the core systems conversion, an important milestone in fully integrating our two organizations.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“While there is more work ahead, we are now well positioned to strengthen our presence in this new market, enhance operating leverage, and deliver expanded capabilities to customers across Western Kentucky and the surrounding region. I’m excited about the long-term growth opportunities this combination creates.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp
“In August 2026, we were honored to be recognized by Bank Director as one of the top 25 banks in the nation, ranking 17(th) overall and 10(th) among the banks studied with total assets between $5 billion and $50 billion. This recognition serves as a testament to the hard work and dedication of our entire team and proves that our full-relationship, community banking business model continues to deliver the exceptional results that have become synonymous with the Stock Yards name.”
LOUISVILLE, Ky., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices throughout the state of Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today reported record earnings of $43.5 million, or $1.40 per diluted share, for the third quarter ended September 30, 2026. This compares to net income of $40.1 million, or $1.31 per diluted share, for the second quarter ended June 30, 2026, and $36.2 million, or $1.23 per diluted share, for the third quarter ended September 30, 2025. Net interest margin expansion, strong credit quality metrics and record levels of non-interest income all contributed to record third quarter 2026 earnings.
((dollar amounts in thousands, except per share data))3Q262Q263Q25 Net income$ 43,508$ 40,057$ 36,241 Net income per share, diluted1.401.311.23 Net interest income$ 92,604$ 87,828$ 77,037 Provision for credit losses (()(1)())950-1,975 Non-interest income27,63326,74724,476 Non-interest expenses64,11463,80653,831 Net interest margin3.88 %3.84 %3.56 % Efficiency ratio (()(2)())53.29 %55.64 %52.99 % Tangible common equity to tangible assets (()(3)())9.98 %9.66 %9.16 % Annualized return on average assets (()(4)())1.69 %1.63 %1.56 % Annualized return on average equity (()(4)())13.72 %13.50 %14.16 %
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