earnings
confidence high
sentiment positive
materiality 0.75
Stock Yards Bancorp Q3 net income $28.5M ($0.97 EPS), up 23% YoY; record loan growth and NIM expansion
Stock Yards Bancorp, Inc.
2022-Q3 EPS reported
$2.20
- Net income $28.5M ($0.97 diluted EPS) vs $23.2M ($0.87) in Q3 2021, a 23% increase.
- Record organic loan growth of $213M (ex-PPP) on linked quarter; total loans $5.07B, up 21% YoY.
- Net interest margin expanded 26 bps to 3.46% QoQ; net interest income up 37% YoY to $62.4M.
- Provision for credit losses $4.8M driven by loan growth and higher unemployment forecast, compared to net benefit in prior periods.
- Quarterly dividend increased to $0.29 per share; tangible book value $16.98, down due to AOCI losses from rising rates.