Stock Yards Bancorp (SYBT) Q4 2025 earnings summary

Executive summary

• Achieved record net income of $36.6 million ($1.24 per diluted share) for Q4 2025, up from $31.7 million ($1.07 per share) in Q4 2024, and record full-year net income of $140.2 million ($4.75 per share), a 22% increase year-over-year.

• Tangible book value per share rose 19% year-over-year to $29.50.

• Loan and deposit growth, non-interest income gains, and strong credit quality drove performance.

Financial highlights

• Net interest income for Q4 2025 was $79.3 million, up 13% year-over-year; full-year net interest income reached $300.3 million, up 17%.

• Net interest margin expanded to 3.57% in Q4 2025 from 3.44% in Q4 2024; full-year margin was 3.53%, up 22 basis points.

• Non-interest income for Q4 2025 was $25.1 million, up 7% year-over-year; full-year non-interest income was $96.9 million, up 2%.

• Non-interest expenses for Q4 2025 were $54.8 million, up 6% year-over-year.

• Efficiency ratio improved to 52.46% in Q4 2025 from 55.21% in Q4 2024.

• Annualized return on average assets was 1.54% for Q4 2025; return on average equity was 13.78%.

Outlook and guidance

• Management remains optimistic about continued growth, citing strong loan origination, robust market performance, and expansion into new markets.

• Wealth Management & Trust division is expected to sustain momentum after record results in Q4 2025.