Stock Yards Bancorp Reports 18% Net Income Growth Driven by Field & Main Acquisition

Stock Yards Bancorp, Inc. reported significant financial growth in its latest quarterly results, driven largely by its recent acquisition of Field & Main Bancorp, Inc. For the three months ending June 30, 2026, the company achieved a net income of $40.1 million, a 18% increase from $34.0 million in the same period last year. This resulted in diluted earnings per share of $1.31, up from $1.15. The bank's net interest income also rose to $87.9 million, reflecting a 20% increase compared to the previous year, attributed to strong loan growth and a decrease in interest expenses.

The acquisition of Field & Main, completed on May 1, 2026, added approximately $839 million in total assets, including $626 million in net loans and $765 million in deposits. This strategic move not only expanded the bank's footprint in Kentucky and surrounding areas but also contributed to a 15% increase in total loans year-over-year, reaching $7.88 billion. The allowance for credit losses (ACL) on loans increased to $109 million, up from $92 million, primarily due to the loan portfolio acquired from Field & Main.

Operationally, the bank's total deposits increased by $695 million, or 9%, to $8.49 billion, with the acquisition playing a significant role in this growth. The bank's net interest margin improved to 3.84%, up from 3.53% a year earlier, driven by a decline in the cost of interest-bearing liabilities. Non-interest income also saw a 10% increase, totaling $26.7 million, bolstered by growth in wealth management and trust services.

Looking ahead, Stock Yards Bancorp is focused on maintaining its capital position as it approaches the $10 billion asset threshold, which will subject it to additional regulatory scrutiny. The bank's capital ratios remain strong, with a Common Equity Tier 1 Risk-Based Capital ratio of 12.07% as of June 30, 2026, well above the minimum requirements. Management anticipates continued growth in both loans and deposits, while also preparing for potential challenges related to market conditions and regulatory changes.