Stock Yards Bancorp, Inc. has reported record earnings for the third quarter ended September 30, 2025. The company's net income was $36.2 million, or $1.23 per diluted share, compared to $29.4 million, or $1.00 per diluted share, for the same period in 2024.
Total loans increased by $651 million, or 10%, over the last 12 months, with commercial real estate loan growth leading all categories. The yield earned on total loans ended at 6.19% for the third quarter of 2025, showing a 2-basis point increase compared to the same period in 2024.
Deposit balances expanded by $918 million, or 14%, over the last 12 months. Non-interest bearing demand accounts increased by $74 million, or 5%, while total interest-bearing deposit accounts increased by $63 million, or 1%.
Net interest income increased by $12.1 million, or 19%, for the third quarter of 2025 compared to the third quarter of 2024. The net interest margin expanded by 23 basis points to 3.56% for the third quarter of 2025 compared to the same period in 2024.
The provision for credit losses on loans expense was recorded at $1.6 million for the third quarter of 2025, compared to $4.3 million for the same period in 2024.
Non-interest income decreased by $321,000, or 1%, over the third quarter of 2024, while non-interest expenses increased by $5.4 million, or 11%, during the third quarter of 2025 compared to the third quarter of 2024.
Total assets increased by $870 million, or 10%, year over year to $9.31 billion. Total loans increased by $651 million, or 10%, to $6.93 billion, with growth spread across segments and markets. Total deposits increased by $918 million, or 14%, over the past 12 months.
The company's tangible common equity per share was $28.30 on September 30, 2025, compared to $27.06 on June 30, 2025, and $24.58 on September 30, 2024.
In August 2025, the board of directors increased its quarterly cash dividend to $0.32 per common share.
These figures demonstrate Stock Yards Bancorp's strong performance and growth in various financial metrics compared to the previous periods. The market has reacted to these announcements by moving the company's shares -0.56% to a price of $67.12. Check out the company's full 8-K submission here.
