Stock Yards Bancorp(US:SYBT)2020-09-23 22:36COVID-19 Impact and Response - Stock Yards Bancorp generally followed its Pandemic Plan updated in November 2019[4] - The company originated 3,250 SBA Payroll Protection Plan loans totaling $647 million and received $20 million in origination fees[9] - COVID-19 related loan deferrals totaled $502.29 million, representing 17% of the total loan portfolio[13] Financial Performance - As of June 30, 2020, Stock Yards Bancorp had $4.3 billion in assets and $3.2 billion in Wealth Management & Trust AUM[21] - For the year ended December 31, 2019, Stock Yards' Return on Average Assets was 1.90% and Return on Average Equity was 17.10%, outperforming peer percentiles[28] - Net income for 2019 was $66.1 million, with earnings per share (diluted) at $2.89[27] - Net interest income for 2019 was $125.2 million[27] Loan Portfolio - The loan portfolio as of June 30, 2020, included $815 million in CRE-Investment (23%), $765 million in Commercial (C&I) (22%), and $630 million in C&I PPP loans (18%)[60] - Total loans in Louisville were $2.364 billion (68%), Indianapolis $571 million (17%), and Cincinnati $529 million (15%) as of 2Q 2020[40] Deposit Base - The company has a growing core deposit base, reaching $3.623 billion as of 2Q 2020[41] - Non-interest bearing demand deposits accounted for 32% of the deposit composition as of 2Q 2020[44] Wealth Management - Wealth management and trust generated $22.6 million in revenue for 2019, with a 45% pre-tax margin[50] - Assets Under Management (AUM) in Wealth Management were $3.2 billion as of June 30, 2020[70]