Stock Yards Bancorp, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018
January 24, 2019 at 12:00 pm
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Stock Yards Bancorp, Inc. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported total interest income of $35,004,000 compared to $29,098,000 a year ago. Net interest income was $29,912,000 compared to $27,029,000 a year ago. Net income was $14,658,000 compared to $4,946,000 a year ago. Net income per share, basic was $0.65 compared to $0.22 a year ago. Net income per share, diluted was $0.64 compared to $0.22 a year ago.
For the full year, the company reported total interest income of $129,773,000 compared to $110,899,000 a year ago. Net interest income was $114,416,000 compared to $103,653,000 a year ago. Net income was $55,517,000 compared to $38,043,000 a year ago. Net income per share, basic was $2.45 compared to $1.69 a year ago. Net income per share, diluted was $2.42 compared to $1.66 a year ago.
Stock Yards Bancorp, Inc. is engaged in the business of banking through its subsidiaries, Stock Yards Bank & Trust Company (the Bank). The Company has two segments: Commercial Banking, and WM&T. Commercial Banking segment provides a full range of loan and deposit products to individual consumers and businesses in all its markets through retail lending, mortgage banking, deposit services, online banking, mobile banking, private banking, commercial lending, commercial real estate lending, leasing, treasury management services, international banking, correspondent banking, and other banking services. The Bank also offers securities brokerage services via its banking center network through an arrangement with a third-party broker-dealer in the Commercial Banking segment. WM&T segment provides investment management, financial and retirement planning, and trust and estate services, as well as retirement plan management for businesses and corporations in all markets in which it operates.