Stock Yards Bancorp, Inc. (NASDAQ: SYBT) reported record net income of $43.5 million, or $1.40 per diluted share, for the third quarter ended September 30, 2026. This figure represents an increase from $40.1 million, or $1.31 per diluted share, in the second quarter of 2026, and compares to $36.2 million, or $1.23 per diluted share, in the prior year's third quarter.
The company highlighted net interest margin expansion and record non-interest income as primary drivers of the results. Net interest income rose to $92.6 million for the quarter, a 20% increase compared to the same period in 2025. The net interest margin expanded 32 basis points year-over-year to 3.88%, driven by substantial average loan balance growth and lower deposit costs.
Non-interest income also reached a record level of $27.6 million, a 13% increase over the prior year. Specific components of this growth included record WM&T revenue of $12.9 million, record treasury management fees of $3.3 million, and record brokerage income of $1.2 million. The company noted that the first full quarter of activity following the merger with Field & Main Bancorp contributed to these results.
As of September 30, 2026, Stock Yards Bancorp reported total assets of $10.26 billion, total loans of $7.99 billion, and total deposits of $8.39 billion. The company’s tangible book value per share was $32.08 as of the period end. The company also noted that it remains committed to managing its balance sheet under the $10 billion regulatory threshold at year-end, with plans to transition across that threshold in 2027.
