Company: SYBT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001437749-25-007118
Chunk: 45

Company: Stock Yards Bancorp, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 45
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 to $107.7 million, or $3.67 per diluted share, in the prior year. 2024 profitability results were driven by (1) net interest income growth, boosted by record loan expansion and increasing net interest margin, (2) low level of net charge-offs, (3) strong non-interest income, and (4) continued non-interest expense control. Our reported annual diluted EPS has trended as follows over the past five years.

<div align='center'>Operating Results</div>

| ● | Loan production of $1.50 billion generated $749 million of net loan growth leading to record total loans outstanding of $6.52 billion at December 31, 2024. |

| ● | Asset and credit quality remained strong and among the highest compared to our peers. |

| ● | Total revenue, comprising fully tax-equivalent net interest income and non-interest income, of $352.6 million, surpassed the previous record of $340.1 million in 2023. |

We received several accolades in 2024 based on our top tier performance and strong banking culture.

| ● | We were one of only 30 banks in the U.S. to be named a ‘Sm-All Star’ in Piper Sandler’s annual list of top-performing small-cap banks and thrifts. |

| ● | We were named a winner of the 2024 Raymond James Community Bankers Cup, which recognizes the top 10% of community banks with assets between $500 million and $10 billion based on various profitability, efficiency and balance sheet metrics. |

<div align='center'>31</div>

| ● | Stephens named us to both their 2024 Bank Industry & Top Picks List as the top Small-Cap stock with upside price potential, as well as their 2024 Best Ideas List, as the top company within the Midwest Bank category. |

| ● | Most importantly, we were once again recognized by American Banker as one of the “Best Banks to Work For,” which identifies and honors U.S. banks for outstanding employee satisfaction. This is our fourth consecutive year, and fourteenth time overall, we have achieved this recognition, which is a testament to the hard work and dedication of each of our 1,000+ employees. |

Performance Orientation of 2024 Compensation

Chairman/CEO Compensation Majority Performance-Based (Equity and Total). The Compensation Committee (the “Committee”) of our Board of Directors is responsible for the design and administration of our executive compensation program. The