This quarterly report represents an earnings surprise of 11.90%. A quarter ago, it was expected that this holding company for Stock Yards Bank & Trust Co. Would post earnings of $0.82 per share when it actually produced earnings of $0.88, delivering a surprise of 7.32%. Stock Yards, which belongs to the Zacks Banks - Southeast industry, posted revenues of $85.77 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.23%. This compares to year-ago revenues of $84.16 million. Th ...

EXHIBIT 99.1 Stock Yards Bancorp Reports Second Quarter Earnings of $27.6 Million or $0.94 Per Diluted Share Results Highlighted by Record Loan Growth and Net Interest Margin Expansion Hillebrand concluded, "In May 2024, we once again received the 2023 Raymond James Community Bankers Cup award, recognizing the top 10% of community banks based on various profitability, operational efficiency, and balance sheet metrics. The pool of banks considered for recognition included all exchange-traded domestic banks w ...

Total assets increased $583 million, or 8%, year over year to $8.32 billion. Financial Condition – June 30, 2024, Compared with March 31, 2024 Total loans expanded $221 million, or 4%, on the linked quarter, led by increases in every loan category. Total line of credit usage was 41.1% as of June 30, 2024, compared to 38.9% as of March 31, 2024, driven by strong production. C&I line of credit usage totaled 30.8% as of June 30, 2024, compared to 27.3% as of March 31, 2024. Total deposits decreased $40 million ...

LOUISVILLE, Ky., May 22, 2024 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today announced that its Board of Directors has declared a quarterly cash dividend of $0.30 per common share. The dividend, which has been maintained at the prior quarter amount, will be paid on July 1, 2024, to stoc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-13661 STOCK YARDS BANCORP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Financial Performance - Stock Yards Bancorp reported first quarter earnings of $25.9 million, or $0.88 per diluted share, compared to $29.0 million, or $0.99 per diluted share in the same quarter of 2023[1]. - Net income for Q1 2024 was $25,887 thousand, up 8.1% from $23,944 thousand in Q4 2023[37]. - Net income for Q1 2024 was $25.9 million, compared to $29.0 million in Q1 2023, reflecting a decrease of 10%[32]. Loan and Deposit Growth - Total loans increased by $607 million, or 12%, year-over-year, with a $79 million, or 1%, increase from the previous quarter[4]. - Total loans expanded by $79 million, or 1%, in Q1 2024, driven by growth in nearly every category, particularly commercial real estate[27]. - Total deposits increased by $252 million, or 4%, over the past 12 months, led by growth in interest-bearing demand and time deposits[16]. - Total deposits decreased to $6,559,345 from $6,689,202, a decline of 1.94%[40]. Interest Income and Margin - Net interest income decreased by $3.0 million, or 5%, to $60.1 million compared to the first quarter of 2023, primarily due to rising costs of interest-bearing liabilities[7]. - Total interest income increased by $1.3 million, or 1%, in Q1 2024, with interest income and fees on loans rising by $3.1 million, or 4%[23]. - The net interest margin contracted to 3.20%, down 39 basis points year-over-year, as the cost of funds continued to outpace earning asset yield growth[8]. - The net interest margin, fully tax equivalent, slightly decreased to 3.20% from 3.25% in the previous quarter[40]. Asset Quality - The Company recorded a provision for credit losses of $1.4 million in Q1 2024, down from $6.0 million in Q4 2023[21]. - Provision for credit losses decreased significantly to $1,425 thousand from $2,625 thousand in the same quarter last year, indicating improved asset quality[36]. - Non-performing loans to total loans ratio improved to 0.24% from 0.35% year-over-year, reflecting better loan performance[35]. - Total non-performing assets decreased to $14,100 thousand from $18,960 thousand, a reduction of 25.5% year-over-year[35]. Equity and Capital - The tangible common equity ratio improved to 8.36% at March 31, 2024, compared to 7.74% at March 31, 2023[18]. - Total stockholders' equity to total assets ratio improved to 10.77% from 10.36% in the previous year[38]. - Tangible common equity reached $661,385,000, reflecting an increase of 2.6% from $643,725,000 in the previous quarter[42]. - The ratio of total stockholders' equity to total assets improved to 10.77% from 10.50% in the prior quarter[42]. Non-Interest Income and Expenses - Non-interest income rose by $1.2 million, or 6%, to $23.3 million, driven by strong performance in Wealth Management & Trust, which reached a record $10.8 million[11]. - Non-interest income increased to $23.3 million in Q1 2024, up from $22.0 million in Q1 2023[32]. - Non-interest expenses decreased by $1.1 million, or 2%, to $49.0 million in Q1 2024[25]. Dividends and Shareholder Returns - A quarterly cash dividend of $0.30 per common share was declared in February 2024, paid on April 1, 2024[19]. - Cash dividend declared per share remained stable at $0.30, consistent with the previous quarter[37]. Asset Management - Total assets increased by $455 million, or 6%, year-over-year, reaching $8.12 billion[13]. - The Company’s total assets decreased by $47 million to $8.12 billion as of March 31, 2024[26]. - Total assets under management increased to $7,496 million, up from $7,160 million in the previous quarter, a growth of 4.69%[41].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-13661 STOCK YARDS BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-1137529 (State or other jurisdiction of incorporation or organiza ...

☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-13661 Table of Contents STOCK YARDS BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-1137529 (State or other jurisdiction of incorporation ...

Financial Performance - Net income for the three months ended June 30, 2023, was $27.7 million, a 3% increase from $26.8 million in the same period of 2022, resulting in diluted EPS of $0.94 compared to $0.91[194] - Net income available to stockholders for the six months ended June 30, 2023, was $56.7 million, a 63% increase from $34.7 million in the same period of 2022[198] - Diluted earnings per share rose to $1.93 for the six months ended June 30, 2023, up 58% from $1.22 in the prior year[198] - Total revenue for the six months ended June 30, 2023, was $169,226 thousand, an increase from $147,332 thousand for the same period in 2022[363] Loan Growth - Total loans (excluding PPP) increased by $571 million, or 12%, compared to June 30, 2022, with average loans increasing by $481 million, or 10%[196] - Total loans (excluding PPP) increased by $571 million, or 12%, compared to June 30, 2022, with average loans rising by $717 million, or 16%[201] - Average total loan balances increased by $441 million, or 9%, for the three months ended June 30, 2023, with non-PPP loan growth of $481 million, or 10%[214] - Bancorp's average total loans for the six months ended June 30, 2023, were approximately $5.26 billion, compared to $4.61 billion for the same period in 2022[243] - Bancorp's total loans increased to $5,418,609 thousand as of June 30, 2023, up from $5,205,918 thousand as of December 31, 2022, with non-PPP loans totaling $5,411,521 thousand[362] Credit Losses and Allowance - The allowance for credit losses (ACL) on loans rose by $11 million, or 17%, attributed to significant organic loan growth, with a provision for credit losses of $2.2 million for the three months ended June 30, 2023[196] - Bancorp's allowance for credit losses (ACL) on loans increased by $11 million, or 17%, compared to June 30, 2022, reflecting significant organic loan growth[203] - The allowance for credit losses on loans was $76,678 thousand, up from $62,020 thousand in the previous year[228] - The Allowance for Credit Losses (ACL) for loans increased to $78 million as of June 30, 2023, up from $74 million at December 31, 2022, reflecting a provision expense of $4.4 million for the first half of 2023[308] - The net charge-off activity for the three and six months ended June 30, 2023, totaled $113,000 and $221,000, respectively[244] Deposits and Funding - Deposit balances declined by $341 million, or 5%, compared to June 30, 2022, due to inflationary pressures and rising interest rates[196] - The company experienced a significant shift in deposit mix, with non-interest bearing deposits migrating to higher-yielding options, increasing the overall cost of funds[196] - Total deposits decreased by $183 million, or 3%, from December 31, 2022, to June 30, 2023, primarily due to a $184 million decline in non-interest bearing deposits[324] - The cost of interest-bearing deposits rose to 1.39% for the six months ended June 30, 2023, compared to 0.14% for the same period of the prior year[325] Interest Income and Margin - Net interest income (FTE) for the six months ended June 30, 2023, totaled $124.3 million, representing a 17% increase from $106.2 million in the same period of 2022[200] - Bancorp's net interest margin (NIM) improved by 36 basis points, or 11%, to 3.50% for the six months ended June 30, 2023, compared to 3.14% in the prior year[200] - Net interest income (FTE) increased by $3.8 million, or 7%, to $57.9 million for the three months ended June 30, 2023, driven by organic loan growth and higher rates[211] - Total interest income (FTE) rose by $24.0 million, or 41%, to $83.1 million for the three months ended June 30, 2023[215] - The net interest margin (NIM) for the first half of 2023 was 3.42%, up from 3.20% in the same period of 2022[227] Non-Interest Income - Non-interest income increased by $3.8 million, or 9%, for the six months ended June 30, 2023, driven by record WM&T fees and treasury management fees[201] - Total non-interest income increased by $920,000, or 4%, for the three months ended June 30, 2023, and by $3.8 million, or 9%, for the six months ended June 30, 2023, compared to the same periods in 2022[251] - Wealth management and trust (WM&T) revenue rose by $651,000, or 7%, for the three months and by $1.9 million, or 11%, for the six months ended June 30, 2023, compared to the same periods in 2022[252] Expenses and Efficiency - Total non-interest expenses increased by $1.1 million, or 3%, for the three month period, while decreasing by $9.9 million, or 10%, for the six month period ended June 30, 2023, influenced by one-time merger expenses[271] - Bancorp's efficiency ratio improved to 54.57% for the three months ended June 30, 2023, compared to 56.42% for the same period in 2022, reflecting a reduction in one-time merger-related expenses[287] - The efficiency ratio improved to 53.84% for the six months ended June 30, 2023, down from 68.52% for the same period in 2022[363] Capital and Assets - As of June 30, 2023, total stockholders' equity to total assets was 10.45%, up from 9.85% a year earlier, indicating strong capital growth[200] - Stockholders' equity increased by $48 million, or 6%, to $808 million at June 30, 2023, supported by net income of $56.7 million[292] - The Common Equity Tier 1 Risk-Based Capital ratio was 10.45% as of June 30, 2023, compared to 10.14% as of December 31, 2022, indicating strong capital ratios exceeding regulatory requirements[360] - Total assets increased by $236 million, or 3%, to $7.73 billion at June 30, 2023, with total loans rising by $213 million, or 4%[290] Economic Outlook - The current economic outlook suggests potential pricing pressure and competition for loans and deposits, with expectations of continued NIM pressure in the second half of 2023[210] - The company anticipates future rising rate scenario betas to return to historic averages, with a deposit beta of approximately 60% for rising rates and 30% for falling rates[234]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 or ☐Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 1-13661 STOCK YARDS BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-1137529 (State or other jurisdiction of incorporation or or ...