SYBT Q1 EPS $0.88, net income $25.9M down 11% YoY; NIM 3.20%, loans +12%, WM&T AUM record $7.5B

Stock Yards Bancorp, Inc.

2024-Q1 EPS reported $0.88

Diluted EPS $0.88 on net income $25.9M, compared to $0.99 and $29.0M in Q1 2023.
Net interest margin compressed 39 bps YoY to 3.20%; net interest income $60.1M, down 5%.
Total loans grew $607M (+12%) YoY to $5.85B; deposit mix shifted to interest-bearing accounts.
Wealth Management & Trust income record $10.8M (+13% YoY); AUM reached $7.50B.
Quarterly dividend $0.30/share paid April 1; NIM compression expected to stabilize in Q2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.78

Stock Yards Bancorp, Inc. reported the first quarter ended March 31, 2024 results: net income $25.9 million, or $0.88 per diluted share.

Period: the first quarter ended March 31, 2024
Net income: $25.9 million, or $0.88 per diluted share
Result: reported results

Exact text from the filing

announcing earnings for the three months ended March 31, 2024

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Stock Yards Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-24-002161

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