Stock Yards Bancorp Inc. Bottom Line Advances In Q1, Beats Estimates

(RTTNews) - Stock Yards Bancorp Inc. (SYBT) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $33.271 million, or $1.13 per share. This compares with $25.887 million, or $0.88 per share, last year.

Analysts on average had expected the company to earn $0.99 per share. Analysts' estimates typically exclude special items.

Stock Yards Bancorp Inc. earnings at a glance (GAAP) :

-Earnings: $33.271 Mln. vs. $25.887 Mln. last year. -EPS: $1.13 vs. $0.88 last year.

For the first quarter, the company reported net interest income of $70.552 million, higher than $60.070 million, posted for the same period last year.

Total non-interest income slipped to $22.996 million from the prior year’s $23.271 million.

Total deposits stood at $7.293 billion as against $6.609 billion a year ago.

Total loans and leases were $6.646 billion, compared with last year’s $5.849 billion.