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Dec 31, 2024
Stock Yards Bancorp Q4 2024 Earnings Report
Reported record fourth quarter earnings driven by strong loan growth and net interest margin expansion.
Key Takeaways
Stock Yards Bancorp reported record earnings of $31.7 million, or $1.07 per diluted share, for the fourth quarter ended December 31, 2024. The company experienced substantial loan growth, strong revenue generation, and net interest margin expansion. Total loans increased by a record $749 million over the last 12 months, with $242 million of growth generated during the fourth quarter.
Record fourth quarter earnings of $31.7 million, or $1.07 per diluted share.
Total loans increased by a record $749 million over the last 12 months, with $242 million of growth in Q4.
Deposit balances grew nicely during the fourth quarter, expanding $440 million, or 7%.
Net interest margin expanded 19 basis points compared to a year ago and 11 basis points on the linked quarter.
Revenue by Segment
Forward Guidance
The company anticipates net interest margin expansion to continue into 2025, with potential cost of funds pressure being more than offset by expected earning asset and yield growth.
Positive Outlook
- Net interest margin expansion expected to continue into 2025.
- Expected earning asset and yield growth.
- Focus on meeting the evolving needs of customers.
- Supporting employees and communities.
- Maintaining a diversified geographic footprint.
Challenges Ahead
- Potential cost of funds pressure.
- Overall loan growth moderating towards historical levels in 2025.
- Decline in non-interest-bearing demand accounts.
- Shift in deposit mix from non-interest bearing to higher cost deposits.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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