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Stock Yards Bancorp serves individuals and businesses through its wholly owned Stock Yards Bank & Trust Company in Kentucky and the Indianapolis and Cincinnati metropolitan areas. The bank uses customer deposits as its main funding source for loans and investments. Borrowers pay interest on loans, and securities also generate interest; most revenue comes from what remains after paying interest on deposits and borrowings. Commercial real estate is its largest loan category.
Wealth management and trust is its largest source of fee income. Customers pay the bank to manage investments, administer trusts and estates, and provide retirement planning and retirement-plan services. Most of this revenue comes from recurring account-management fees based on the value of client assets, so it depends on both retaining client assets and their market value. These contracts do not allow performance-based fees.
The banking business depends on attracting and retaining deposits, including large commercial accounts, and on the gap between lending and investment yields and funding costs. The parent company has no significant operations of its own and receives cash mainly through bank dividends, which are subject to regulatory limits and the bank’s capital requirements.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Republic Bancorp Inc/KY competes directly with Stock Yards for borrowers and deposits in Louisville, central Kentucky and the Cincinnati area. Watch Republic’s deposit pricing: Stock Yards needs deposits to fund loans, and the interest it pays on them directly affects profit.
Community Trust Bancorp Inc competes with Stock Yards for banking and wealth-management clients in central and eastern Kentucky, offering loans, deposits and management of clients’ investments and trusts. Its pricing and efforts to win those clients are worth watching, particularly where investment-management relationships generate fees for Stock Yards.
Peoples Bancorp Inc/OH, through Peoples Bank, competes with Stock Yards for business and consumer banking clients in Kentucky and southwestern Ohio, putting it in the same contest for borrowers and depositors.
S&T Bancorp Inc offers a comparison for Stock Yards: both run similarly sized regional banks that take deposits, lend to households and businesses, and manage clients’ investments and trusts. Watch S&T’s lending to small and medium-sized businesses for a read on regional business borrowing demand.
Midland States Bancorp, Inc. shares Stock Yards’ mix of regional lending and deposit banking with a sizable business managing clients’ wealth. Watch the value of assets in Midland’s wealth business alongside its lending results; assets under management are the main driver of Stock Yards’ wealth-management revenue.
Enterprise Financial Services Corporation resembles Stock Yards in lending to business clients, managing their wealth and relying importantly on their deposits to fund loans. Watch Enterprise’s business-client deposit growth and costs: Stock Yards depends on large commercial deposit relationships as a primary funding source.
First Mid Bancshares, Inc. gives Stock Yards holders another view of commercial-property lending, with both banks also managing clients’ trusts and investments. Watch First Mid’s commercial-property loan performance: this was Stock Yards’ largest loan category, at 43% of total loans on December 31, 2025.
Mercantile Bank Corp and Stock Yards both build business-client relationships through loans, including commercial-property and construction financing, funded by deposits. Watch Mercantile’s property borrowers, but distinguish its generally floating-rate commercial-property term loans from Stock Yards’ loan book, which was 64% fixed-rate on December 31, 2025.
Washington Trust Bancorp Inc offers a comparison for Stock Yards across property lending, deposits and paid services managing clients’ wealth and trusts, rather than the same local market. Watch its property-loan performance and wealth business separately: Stock Yards has substantial property lending, while its recurring wealth-management fees generally depend on the value of assets it manages.
Community Trust Bancorp Inc earningsCTBI
Community Trust Bancorp competes with Stock Yards for wealth-management and trust clients in Kentucky, so its report offers a read on the client market they share.
Watch Community Trust’s wealth-management activity and related fee income. Growth in both suggests clients are still using investment-management and trust services, leaving business for banks to compete for; weakness suggests client activity or managed assets may be under pressure, a less supportive market for the fees Stock Yards earns on managed assets, but it does not establish Stock Yards’ own results.
Midland States Bancorp, Inc. earningsMSBI
Midland States Bancorp also manages client assets for a fee, and its report will show whether changes in those assets are supporting wealth revenue.
Read Midland States’ assets under management alongside its wealth-management fee income. Growth in both suggests a larger pool of managed assets is supporting this revenue stream and gives a useful comparison for Stock Yards; declines in both point to pressure on asset-based fees, but do not mean Stock Yards must see the same change.
S&T Bancorp Inc earningsSTBA
S&T Bancorp lends to small and medium-sized businesses, giving Stock Yards a comparison for whether companies are seeking loans.
Check whether S&T’s lending to small and medium-sized businesses is growing, alongside changes in related loan balances. Growth suggests companies are still borrowing and offers a supportive comparison for Stock Yards’ business lending; a decline may signal weaker borrowing appetite, but S&T cannot stand in for the conditions among Stock Yards’ own customers.
Stock Yards Bancorp, Inc. earningsThis company
Stock Yards Bancorp earns mainly from loan interest after funding costs, and this report will show whether that spread is still supporting its revenue.
Read net interest income alongside net interest margin, the share of interest-earning assets left after funding costs, and compare loan yields with the cost of interest-bearing deposits. Rising income with a wider margin means loan revenue is outpacing funding costs; a narrower margin and slower income growth mean deposit costs or loan pricing are squeezing the bank’s main revenue source.
Fed Interest Rate Decision
Stock Yards Bancorp earns most of its revenue from the gap between interest on loans and securities and interest paid on deposits, so Fed rate decisions affect what it earns on assets and pays for funding.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher-than-expected rates can raise costs on deposits and other funding as short-term rates rise; if returns on its loans and securities do not rise as much, Commercial Banking’s net interest income and margin may be squeezed.
If it comes in below expectations
Lower-than-expected rates can ease the cost of deposits and other funding, but may also limit returns on loans and securities; the net effect on Commercial Banking’s net interest income and margin depends on how quickly each reprices.
First Mid Bancshares, Inc. earningsFMBH
First Mid Bancshares’ commercial-property loan performance offers a credit-risk comparison for Stock Yards’ largest loan category.
Watch First Mid’s commercial-property delinquencies, problem loans or credit losses alongside changes in the related loan balances. Stable repayment performance suggests its property borrowers are not showing clear deterioration, a steadier comparison for the large commercial-property share of Stock Yards’ loans; rising delinquencies or losses would flag borrower stress, but would not prove Stock Yards’ loans are affected in the same way.
