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Mar 31, 2020
Stock Yards Bancorp Q1 2020 Earnings Report
Reported first quarter earnings, showing a decrease in net income but record loan production and deposit growth amidst a difficult operating environment.
Key Takeaways
Stock Yards Bancorp reported a net income of $13.2 million, or $0.59 per diluted share, for the first quarter of 2020. This compares to a net income of $15.6 million, or $0.68 per diluted share, for the first quarter of 2019. The results reflect a significant provision for credit losses due to loan growth and the potential economic effects of the COVID-19 pandemic.
Net income for the first quarter was $13.2 million, or $0.59 per diluted share.
A significant provision for credit losses was recorded due to loan growth and potential economic effects of the COVID-19 pandemic.
Record first quarter loan production and deposit growth were achieved.
The company actively participated in the federal PPP program, approving 2,190 loan requests for approximately $583 million.
Stock Yards Bancorp
Stock Yards Bancorp
Stock Yards Bancorp Revenue by Segment
Revenue by Segment
Wealth Management & Trust Services Revenue
CapyFin.comDeposit Service Charges Revenue
CapyFin.comDebit and Credit Card Income Revenue
CapyFin.comTreasury Management Fees Revenue
CapyFin.comMortgage Banking Income Revenue
CapyFin.comNet Investment Product Sales Commissions and Fees Revenue
CapyFin.comBank Owned Life Insurance Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income