Stock Yards Bancorp Q2 net income $27.7M, EPS $0.94; loans up 12% YoY, deposits slip

Stock Yards Bancorp, Inc.

2023-Q2 EPS reported $1.93

Net income $27.7M ($0.94 diluted EPS) vs $26.8M ($0.91) in Q2 2022; net interest income $60.9M, up 7% YoY.
Total loans excl. PPP rose $571M (+12%) YoY and $178M linked quarter; loan production set a record in Q2 2023.
Total deposits fell $149M (-2%) linked quarter; non-interest bearing deposits declined $79M.
Net interest margin compressed 17 bps to 3.42% as funding costs outpaced asset yields; credit quality remained strong with past dues at 3-year lows.
Quarterly cash dividend maintained at $0.29 per share; no share repurchases since 2020.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Stock Yards Bancorp, Inc. reported the second quarter ended June 30, 2023 results: revenue $27.7 million, net income $27.7 million, EPS $0.94 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $27.7 million
Net income: $27.7 million
EPS: $0.94 per diluted share
Result: reported results

Exact text from the filing

today reported earnings for the second quarter ended June 30, 2023, of $27.7 million, or $0.94 per diluted share.

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Source: SEC EDGAR

accession 0001171843-23-004657

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