SYBT · Stock Yards Bancorp, Inc.

Stock Yards Bancorp delivered a strong first quarter 2026, marked by 10% year-over-year earnings growth and strategic expansion through M&A. Net income rose to $36.6 million, or $1.24 per diluted share, compared to $33.3 million, or $1.13 per share, in the prior year quarter. The improvement was driven by solid execution in core banking activities and disciplined balance sheet management. Net interest income increased 11% to $78.4 million, fueled by an 8% increase in average loan balances and a 19 basis point expansion in net interest margin to 3.65%. Management successfully lowered deposit rates in tandem with Federal Reserve rate cuts, which supported margin expansion despite a slight decline in loan yields. Credit quality remained excellent, with the provision for credit losses increasing modestly to $1.6 million primarily due to loan growth. Non-interest income grew 7% to $24.6 million, highlighted by record revenue of $11.3 million from the Wealth Management & Trust division. Non-interest expenses increased 8% to $55.2 million, reflecting investments in personnel and branch expansion. A significant strategic development was the announcement of a definitive agreement to acquire Field & Main Bancorp, Inc., headquartered in Henderson, Kentucky. The acquisition, expected to close on May 1, 2026, will expand Stock Yards' footprint into Western Kentucky. As of December 31, 2025, Field & Main reported approximately $861 million in assets and $781 million in deposits. Chairman and CEO James A. Hillebrand highlighted that the partnership aligns with the company's disciplined growth strategy and community banking model.