Stock Yards Bancorp, Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 27, 2016 at 12:41 pm
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Stock Yards Bancorp, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's net interest income, fully tax equivalent was $23,050,000 compared to $21,749,000 a year ago. Total interest income was $24,039,000 compared to $22,778,000 a year ago. Net interest income was $22,822,000 compared to $21,511,000 a year ago. Net interest income after provision for loan losses was $22,072,000 compared to $21,511,000 a year ago. Net income before income tax expense was $13,823,000 compared to $12,029,000 a year ago. Net income was $9,646,000 compared to $8,722,000 a year ago. Net income per share, diluted was $0.64 compared to $0.59 a year ago. Annualized return on average assets was 1.41% compared to 1.39% a year ago. Annualized return on average equity was 13.44% compared to 13.46% a year ago.
For the year, the company's net interest income, fully tax equivalent was $89,246,000 compared to $84,730,000 a year ago. Total interest income was $93,170,000 compared to $89,087,000 a year ago. Net interest income was $88,318,000 against $83,757,000 a year ago. Net interest income after provision for loan losses was $87,568,000 compared to $84,157,000 a year ago. Net income before income tax expense was $54,120,000 compared to $50,103,000 a year ago. Net income was $37,187,000 compared to $34,822,000 a year ago. Net income per share, diluted was $2.48 compared to $2.36 a year ago. Annualized return on average assets was 1.44% compared to 1.45% a year ago. Annualized return on average equity was 13.55% compared to 14.19% a year ago. Book value per share was $19.20 compared to $17.63 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.