Stock Yards Bancorp (NASDAQ:SYBT), the parent company of Stock Yards Bank & Trust Company, reported record financial results for the first quarter of 2026.
The Louisville-based institution demonstrated significant momentum in its lending and wealth management divisions, while also securing a definitive agreement to expand its regional footprint through the acquisition of Field & Main Bank.
For the quarter ended March 31, 2026, net income reached $36.6 million, or $1.24 per diluted share.
This represents a notable increase from the $33.3 million, or $1.13 per share, reported in the first quarter of 2025.
The performance was largely fueled by a 9% year-over-year increase in total loans, which reached $7.23 billion, and an expansion of the net interest margin (NIM) to 3.65%.
The company’s Wealth Management and Trust (WM&T) segment continued to be a significant contributor to non-interest income, benefiting from favorable market conditions and new client acquisitions.
However, the quarter also saw an increase in non-interest expenses to $55.2 million, partly due to investments in technology and costs associated with the pending merger.
The provision for credit losses was also raised to $1.6 million, reflecting a cautious approach to the broader economic environment and the growth of the loan portfolio.
As of March 31, 2026, Stock Yards Bancorp reported total assets of $9.47 billion and total deposits of $7.76 billion.
The bank's capital position remained robust, with tangible common equity per share rising to $30.41.