Note 15 - Segments

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(15) Segments

Bancorp’s principal activities include commercial banking and investment management and trust. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage origination and securities brokerage activity. Investment management and trust provides wealth management services including investment management, trust and estate administration, and retirement plan services.

Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision for loan losses have been allocated to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not necessarily comparable with similar information for any other financial institution. Information presented is also not necessarily indicative of the segments’ operations if they were independent entities.

STOCK YARDS BANCORP, INC. AND SUBSIDIARY

Selected financial information by business segment for the three and six month periods ended June 30, 2016 and 2015 follows:

			Investment
	Commercial		management
(in thousands)	banking		and trust		Total
Three months ended June 30, 2016
Net interest income	$	23,888	$	62	$	23,950
Provision for loan losses		750		-		750
Investment management and trust services		-		4,807		4,807
All other non-interest income		5,971		-		5,971
Non-interest expense		17,297		2,896		20,193
Income before income taxes		11,812		1,973		13,785
Tax expense		2,971		705		3,676
Net income	$	8,841	$	1,268	$	10,109
Three months ended June 30, 2015
Net interest income	$	21,756	$	45	$	21,801
Provision (credit) for loan losses		-		-		-
Investment management and trust services		-		4,651		4,651
All other non-interest income		5,568		-		5,568
Non-interest expense		16,015		2,852		18,867
Income before income taxes		11,309		1,844		13,153
Tax expense		3,495		656		4,151
Net income	$	7,814	$	1,188	$	9,002

STOCK YARDS BANCORP, INC. AND SUBSIDIARY

			Investment
	Commercial		management
(in thousands)	banking		and trust		Total
Six months ended June 30, 2016
Net interest income	$	47,295	$	124	$	47,419
Provision for loan losses		1,250		-		1,250
Investment management and trust services		-		9,419		9,419
All other non-interest income		11,441		-		11,441
Non-interest expense		34,192		5,541		39,733
Income before income taxes		23,294		4,002		27,296
Tax expense		5,922		1,430		7,352
Net income	$	17,372	$	2,572	$	19,944
Six months ended June 30, 2015
Net interest income	$	43,316	$	99	$	43,415
Provision (credit) for loan losses		-		-		-
Investment management and trust services		-		9,203		9,203
All other non-interest income		10,689		-		10,689
Non-interest expense		31,206		5,440		36,646
Income before income taxes		22,799		3,862		26,661
Tax expense		7,029		1,375		8,404
Net income	$	15,770	$	2,487	$	18,257