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Stock Yards Bancorp Q1 2025 Earnings Report
Stock Yards Bancorp reported record first quarter earnings, driven by strong loan growth and an expanded net interest margin.
Key Takeaways
Stock Yards Bancorp reported record net income of $33.3 million, or $1.13 per diluted share, for the first quarter ended March 31, 2025. This represents a significant increase from $25.9 million, or $0.88 per diluted share, in the same period last year. The strong performance was primarily attributed to robust loan growth and an improved net interest margin.
Net income increased to a record $33.3 million, or $1.13 per diluted share, for Q1 2025.
Total loans grew by a record $797 million, or 14%, over the last 12 months, with $126 million of growth in Q1 2025.
Net interest income increased by $10.5 million, or 17%, compared to the prior year quarter, reaching $70.6 million.
The net interest margin expanded by 26 basis points year-over-year to 3.46%, and by 2 basis points linked-quarter.
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.com Forward Guidance
The company anticipates continued growth, though potentially at a more moderate pace due to marketplace uncertainties.
Positive Outlook
- Continued strong loan growth is expected, building on the record increase in the first quarter.
- Recent key hires in Wealth Management & Trust are expected to contribute to future production.
- Treasury management fees are anticipated to continue benefiting from a growing customer base.
- Organic growth remains a primary focus, aiming to improve the overall funding position.
- The company's diversified geographic and economic footprint is expected to continue benefiting results.
Challenges Ahead
- Uncertainty in the marketplace regarding possible tariffs could impact business customers.
- The global economy could have an impact on business customers.
- Growth is anticipated to moderate compared to the strong pace seen in the first quarter.
- Equity market declines could mute wealth management and trust income.
- The funding mix could continue to weigh on net interest income, despite recent improvements.