Note 25 - Segments

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(25)

Segments

Bancorp’s principal activities include commercial banking and wealth management and trust (WM&T). Commercial banking provides a full range of loan and deposit products to individual consumers and businesses, plus origination of consumer mortgages and securities brokerage activity. WM&T provides 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 the performance of the 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.

Principally, all of the net assets of Stock Yards Bancorp, Inc. are involved in the commercial banking segment.  Bancorp has goodwill of

$682,000

related to a bank acquisition in

1996

which has been assigned to the commercial banking segment. Assets assigned to WM&T consist of premises and equipment, net of accumulated depreciation.

Selected financial information by business segment follows:

				Wealth
	Commercial			management
(In thousands)	banking			and trust		Total
Year ended December 31, 2016
Net interest income	$	96,986		$	268	$	97,254
Provision for loan losses		3,000			-		3,000
Investment management and trust services		-			19,155		19,155
All other non-interest income		24,382			-		24,382
Non-interest expense		70,230			11,290		81,520
Income before income taxes		48,138			8,133		56,271
Income tax expense		12,340			2,904		15,244
Net income	$	35,798		$	5,229	$	41,027
Segment assets	$	3,037,394		$	2,087	$	3,039,481
Year ended December 31, 2015
Net interest income	$	88,124		$	194	$	88,318
Credit for loan losses		750			-		750
Investment management and trust services		-			18,026		18,026
All other non-interest income		21,924			-		21,924
Non-interest expense		62,748			10,650		73,398
Income before income taxes		46,550			7,570		54,120
Income tax expense		14,238			2,695		16,933
Net income	$	32,312		$	4,875	$	37,187
Segment assets	$	2,816,373		$	428	$	2,816,801
Year ended December 31, 2014
Net interest income	$	83,570		$	187	$	83,757
Provision for loan losses		(400	)		-		(400	)
Investment management and trust services		-			18,212		18,212
All other non-interest income		20,913			30		20,943
Non-interest expense		62,523			10,686		73,209
Income before income taxes		42,360			7,743		50,103
Income tax expense		12,527			2,754		15,281
Net income	$	29,833		$	4,989	$	34,822
Segment assets	$	2,563,664		$	204	$	2,563,868