8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K


                                 CURRENT REPORT


                PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

                              EXCHANGE ACT OF 1934


       Date of Report (date of earliest event reported): February 20, 2007

                               S.Y. BANCORP, INC.

             (Exact name of registrant as specified in its charter)



           Kentucky                        0-17262                  61-1137529
           --------                        -------                  ----------
(State or other jurisdiction of    (Commission File Number)     (I.R.S. Employer
incorporation or organization)                               Identification No.)


               1040 East Main Street, Louisville, Kentucky, 40206
               --------------------------------------------------
                    (Address of principal executive offices)


                                 (502) 582-2571
                                 --------------
              (Registrant's telephone number, including area code)





Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_| Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))



ITEM 8.01. OTHER EVENTS.

On February 21, 2007, S.Y. Bancorp, Inc. issued a press release, a copy of which
is attached hereto as Exhibit 99.1 and incorporated by reference, announcing
that the Board of Directors has declared a regular quarterly cash dividend of
$0.15 per share, payable on April 2, 2007, to shareholders of record as of March
16, 2007.

At the same time, the Company announced that it has extended the expiration date
of the Company's stock repurchase plan to February 2008.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

        D.        Exhibits

                  99.1      Press Release dated February 21, 2007.


                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Date:   February 21, 2007           S.Y. BANCORP, INC.

                                    By:    /s/ Nancy B. Davis
                                           ---------------------------------
                                           Nancy B. Davis, Executive Vice
                                           President, Treasurer and Chief
                                           Financial Officer

EX-99.1

                                                                    Exhibit 99.1

S.Y. Bancorp Declares Regular Quarterly Cash Dividend of $0.15 Per Common Share

                      Company Extends Stock Repurchase Plan

    LOUISVILLE, Ky.--(BUSINESS WIRE)--Feb. 21, 2007--S.Y. Bancorp,
Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust
Company in Louisville, southern Indiana and Indianapolis, today
announced that its Board of Directors has declared a regular quarterly
cash dividend of $0.15 per common share. The dividend will be paid on
April 2, 2007, to stockholders of record as of March 16, 2007.

    Separately, the Company announced that the Board also extended the
Company's stock repurchase plan's expiration date to February 2008.
The Company's most recent stock buyback plan authorized the repurchase
of up to 577,500 shares, adjusted for stock splits and stock
dividends. To date, the Company has repurchased approximately 422,000
shares. Under the program, S.Y. Bancorp may purchase shares from time
to time at prevailing prices in open market transactions, subject to
market conditions, share price and other considerations. Unsolicited
negotiated transactions also are permitted. The Company cannot assure
the exact number of shares to be repurchased prior to the expiration
date of the plan.

    Louisville, Kentucky-based S.Y. Bancorp, Inc., with $1.426 billion
in assets, was incorporated in 1988 as a bank holding company. It is
the parent company of Stock Yards Bank & Trust Company, which was
established in 1904.

    CONTACT: S.Y. Bancorp, Inc.
             Nancy B. Davis, 502-625-9176
             Executive Vice President,
             Treasurer and Chief Financial Officer