Stock Yards Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 24, 2024 at 07:31 am EST
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Stock Yards Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 62.02 million compared to USD 65.26 million a year ago. Net income was USD 23.94 million compared to USD 29.82 million a year ago. Basic earnings per share from continuing operations was USD 0.82 compared to USD 1.02 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 1.01 a year ago.
For the full year, net interest income was USD 247.33 million compared to USD 233.38 million a year ago. Net income was USD 107.75 million compared to USD 92.97 million a year ago. Basic earnings per share from continuing operations was USD 3.69 compared to USD 3.24 a year ago.
Stock Yards Bancorp, Inc. is engaged in the business of banking through its subsidiaries, Stock Yards Bank & Trust Company (the Bank). The Company has two segments: Commercial Banking, and WM&T. Commercial Banking segment provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, international banking, correspondent banking, and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third-party broker-dealer in the Commercial Banking segment. WM&T segment provides investment management, financial and retirement planning, and trust and estate services, as well as retirement plan management for businesses and corporations in all markets in which it operates.