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Dec 31, 2020
Stock Yards Bancorp Q4 2020 Earnings Report
Reported record fourth quarter earnings due to record loan growth.
Key Takeaways
Stock Yards Bancorp reported a record fourth quarter with a 7% increase in net income to $17.7 million, or $0.78 per diluted share, driven by record quarterly loan growth and strong revenue.
Net income for the fourth quarter increased 7% to $17.7 million.
Earnings per diluted share was $0.78 for the fourth quarter.
Total loans increased $687 million, or 24%, to $3.5 billion.
Net interest income increased $3.5 million, or 11%, to $36.3 million.
Stock Yards Bancorp
Stock Yards Bancorp
Forward Guidance
The company anticipates successfully executing the new round of relief efforts and helping its customers and communities, but believes the earnings potential will likely not meet the level of contribution from the initial PPP loan program.