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Jun 30, 2020
Stock Yards Bancorp Q2 2020 Earnings Report
Reported solid results amidst pandemic-related economic challenges, with net income of $13.4 million and record deposit growth.
Key Takeaways
Stock Yards Bancorp reported net income of $13.4 million, or $0.59 per diluted share, for the second quarter ended June 30, 2020. The results reflect solid performance amidst pandemic-related economic challenges, driven by record mortgage banking income and controlled non-interest expenses.
Delivered solid results despite pandemic-related and broad-based economic challenges.
Pre-tax, pre-provision income increased 21%, led by record mortgage banking income and controlled non-interest expenses.
Assisted over 3,200 customers and originated $647 million in loans through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
Recorded a significant provision for credit losses based on the predicted impact of the pandemic due to rising unemployment forecasts and changing macro-economic conditions.
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
Stock Yards Bancorp expects to navigate these uncertain times and come out of the current crisis stronger than they entered, based on their strong capital base, diversified loan portfolio, conservative loan underwriting philosophy, and multiple sources of revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income