Stock Yards Bancorp, Inc. reported a significant increase in financial performance for the second quarter of 2025, with net income rising to $34.0 million, or $1.15 per diluted share, compared to $27.6 million, or $0.94 per diluted share, in the same period last year. For the first half of 2025, net income reached $67.3 million, up from $53.5 million in the prior year. The company attributed this growth to a 13% increase in total loans, which rose to $6.85 billion, driven primarily by growth in commercial real estate and commercial and industrial lines of credit.
Total assets increased by 4% to $9.21 billion as of June 30, 2025, compared to $8.86 billion at the end of 2024. This growth was supported by a $340 million increase in deposits, which reached $7.51 billion, reflecting successful deposit promotions. The company also reported a 55% increase in cash and cash equivalents, totaling $451 million, which was partially offset by a 10% decline in the investment securities portfolio due to scheduled maturities.
In terms of operational metrics, the allowance for credit losses (ACL) on loans increased to $90.7 million, representing 1.32% of total loans, compared to $86.9 million, or 1.35%, at the end of 2024. The provision for credit losses was $2.3 million for the second quarter, up from $1.1 million in the same quarter of 2024. The company noted that the increase in the ACL was driven by strong loan growth and slight deterioration in the unemployment forecast.
Strategically, Stock Yards Bancorp has continued to enhance its service offerings, particularly in wealth management and trust services, which generated $10.5 million in non-interest income for the second quarter. However, this segment saw a slight decline compared to the previous year. The company also announced a new share repurchase program in July 2025, authorizing the repurchase of up to 1 million shares, which reflects its commitment to returning value to shareholders.
Looking ahead, Bancorp remains optimistic about its growth trajectory, although it anticipates potential pricing pressures on both loans and deposits due to competitive market conditions. The company is focused on maintaining its well-capitalized status, with capital ratios exceeding regulatory requirements, and plans to continue leveraging its strong operational performance to drive future growth.
About Stock Yards Bancorp, Inc.
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