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Dec 31, 2021
Stock Yards Bancorp Q4 2021 Earnings Report
Reported record 2021 earnings and strong fourth quarter earnings, highlighted by solid organic balance sheet growth and record levels of non-interest income.
Key Takeaways
Stock Yards Bancorp reported a net income of $24.6 million, or $0.92 per diluted share, for the fourth quarter ended December 31, 2021, compared to $17.7 million, or $0.78 per diluted share, for the fourth quarter of 2020. The company experienced strong organic balance sheet growth and record levels of non-interest income during the quarter.
Net income for the fourth quarter was $24.6 million, or $0.92 per diluted share.
Net interest income increased 27% to $46.2 million, driven by higher interest income on non-PPP loans and the continued decline in cost of funds.
Non-interest income increased 36% to $18.6 million.
Total assets increased 44% to $6.65 billion.