Note 19 - Segments

3 Months Ended

Mar. 31, 2018

Segment Reporting Disclosure [Text Block]

(

)

Segments

Bancorp’s principal activities include commercial banking and wealth 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 investment products sales activity. Wealth management and trust provides financial 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.

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 the Wealth Management & Trust Group (WM&T) consist of premises and equipment, net of accumulated depreciation.

Selected financial information by business segment for the

three

month periods ended

March 31, 2018

and

2017

follows:

			Wealth
	Commercial		management
(In thousands)	banking		and trust		Total

Three months ended March 31, 2018
Net interest income	$	27,224	$	71	$	27,295
Provision for loan losses		735		-		735
Wealth management and trust services		-		5,500		5,500
All other non-interest income		5,423		-		5,423
Non-interest expense		17,829		3,198		21,027
Income before income taxes		14,083		2,373		16,456
Income tax expense		2,537		515		3,052
Net income	$	11,546	$	1,858	$	13,404

Segment assets	$	3,283,539	$	1,941	$	3,285,480
Three months ended March 31, 2017
Net interest income	$	25,107	$	77	$	25,184
Provision (credit) for loan losses		900		-		900
Wealth management and trust services		-		5,094		5,094
All other non-interest income		5,500		-		5,550
Non-interest expense		17,948		3,047		20,995
Income before income taxes		11,809		2,124		13,933
Income tax expense		2,384		758		3,142
Net income	$	9,425	$	1,366	$	10,791

Segment assets	$	3,031,318	$	2,025	$	3,033,343