Stock Yards Bancorp posts record 2021 net income $74.6M; Q4 EPS $0.92 vs $0.78 YoY

Stock Yards Bancorp, Inc.

2021-FY EPS reported $2.97

Net income Q4 2021: $24.6M ($0.92 diluted EPS) vs $17.7M ($0.78) in Q4 2020; full-year record $74.6M ($2.97) vs $58.9M ($2.59).
Total assets grew 44% YoY to $6.65B; loans (ex-PPP) up 35% YoY; deposits up 45% YoY. Record non-interest income of $18.6M (+36% YoY).
Merger with Commonwealth Bancshares expected to close in Q1 2022; adds $1.31B assets, 15 branches. Regulatory approvals received from KY DFI and FDIC.
Allowance for credit losses released by $1.9M in Q4 due to improving economic forecast; NIM compressed to 3.07%.
Quarterly dividend declared $0.28 per share (unchanged); no share repurchases in 2021; ~741K shares remain under buyback plan.

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