SYBT

EX-99.1

2 exh_991.htm

PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Stock Yards Bancorp Reports Record Third Quarter Earnings of $43.5 Million or $1.40 per Diluted Share

Third Quarter Highlighted by Net Interest Margin Expansion and Record Non-Interest Income

LOUISVILLE, Ky., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices throughout the state of Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today reported record earnings of $43.5 million, or $1.40 per diluted share, for the third quarter ended September 30, 2026. This compares to net income of $40.1 million, or $1.31 per diluted share, for the second quarter ended June 30, 2026, and $36.2 million, or $1.23 per diluted share, for the third quarter ended September 30, 2025. Net interest margin expansion, strong credit quality metrics and record levels of non-interest income all contributed to record third quarter 2026 earnings.

(dollar amounts in thousands, except per share data) 3Q26 2Q26 3Q25

Net income $43,508  $40,057  $36,241

Net income per share, diluted  1.40   1.31   1.23

Net interest income $92,604  $87,828  $77,037

Provision for credit losses(1)  950   -   1,975

Non-interest income  27,633   26,747   24,476

Non-interest expenses  64,114   63,806   53,831

Net interest margin  3.88%  3.84%  3.56%

Efficiency ratio(2)  53.29%  55.64%  52.99%

Tangible common equity to tangible assets(3)  9.98%  9.66%  9.16%

Annualized return on average assets(4)  1.69%  1.63%  1.56%

Annualized return on average equity(4)  13.72%  13.50%  14.16%

“Stock Yards delivered another record quarter, with net interest margin expansion and broad-based strength in non-interest income driving earnings to a new high,” commented James A. (Ja) Hillebrand, Chairman and Chief Executive Officer. “Loan growth was positive, but lighter than anticipated, as payoffs remained elevated and continued to offset solid production. While we expect payoff activity to remain a headwind in the near term, our pipeline is steady heading into the fourth quarter. Non-interest income was once again a highlight, with WM&T revenue, treasury management fees and brokerage income each reaching record levels, and card income also contributing to solid results. While total assets remained above the regulatory $10 billion threshold as of September 30, 2026, we remain committed to managing the balance sheet under $10 billion at year-end as we position the Company to officially transition across that threshold in 2027.

“In addition to organic growth, I am excited to report the first full quarter reflecting our successful merger with Field & Main Bancorp (“Field & Main”),” Hillebrand continued. “The acquisition is already making a meaningful contribution to our results, and shortly after quarter end, in mid-October, we completed the core systems conversion, an important milestone in fully integrating our two organizations. While there is more work ahead, we are now well positioned to strengthen our presence in this new market, enhance operating leverage, and deliver expanded capabilities to customers across Western Kentucky and the surrounding region. I’m excited about the long-term growth opportunities this combination creates.”

As of September 30, 2026, Stock Yards had $10.26 billion in assets, $7.99 billion in loans and $8.39 billion in total deposits. The Company’s combined enterprise, which encompasses 82 branch offices across three contiguous states, will continue to benefit from a diversified geographic and economic footprint, including the six locations added through the Field & Main acquisition and continued organic expansion, including the opening of the Company’s first full-service location in Bowling Green, Kentucky in late September.

Key factors contributing to the third quarter of 2026 included:

Total loans increased $1.06 billion, or 15%, over the last 12 months, while growing $104 million, or 1%, on the linked quarter. As of period end, and including purchase accounting-related adjustments, the Field & Main loan portfolio totaled $606 million. Excluding the Field & Main portfolio, organic growth totaled $453 million, or 6%, over the past 12 months, with the CRE and C&I segments being the primary drivers of the increase. The yield earned on total loans ended at 6.17% for the third quarter of 2026, down 2 basis points compared to the third quarter of the prior year due to interest rate reductions implemented by the FRB in the latter part of 2025. The FRB’s recent interest rate increase had a minimal impact on the quarter’s results given its mid-September effective date. Deposit balances increased $746 million, or 10%, over the last 12 months. As of period end, the Field & Main deposit portfolio totaled $731 million, including $130 million of non-interest bearing deposits. Excluding the Field & Main deposit portfolio, total deposits grew $15 million, or l

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