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Jun 30, 2024
Stock Yards Bancorp Q2 2024 Earnings Report
Stock Yards Bancorp reported solid second-quarter earnings, driven by record loan growth and net interest margin expansion.
Key Takeaways
Stock Yards Bancorp reported earnings of $27.6 million, or $0.94 per diluted share, for the second quarter ended June 30, 2024. The results were driven by record loan growth, stable asset quality, and net interest margin expansion. Total loans increased by $221 million during the quarter, and net interest margin expanded by six basis points compared to the linked quarter.
Net income reached $27.6 million, equivalent to $0.94 per diluted share.
Total loans increased by $221 million during the second quarter.
Net interest margin expanded by 6 basis points compared to the previous quarter.
Non-interest income was boosted by record quarterly revenue from Treasury Management and Wealth Management & Trust groups.
Stock Yards Bancorp
Stock Yards Bancorp
Forward Guidance
The Company has not provided specific forward guidance in this earnings report.