EXHIBIT 21

Stock Yards Bancorp, Inc.

Subsidiaries of the Registrant

As of December 31, 2022

Name of Subsidiary	Jurisdiction of Incorporation	Business Name of Subsidiary
Stock Yards Bank & Trust Company	Kentucky	Stock Yards Bank & Trust Company
SYB Insurance Company, Inc.	Nevada	SYB Insurance Company, Inc.
Commonwealth Statutory Trust III	Delaware	Commonwealth Statutory Trust III
Commonwealth Statutory Trust IV	Delaware	Commonwealth Statutory Trust IV
Commonwealth Statutory Trust V	Delaware	Commonwealth Statutory Trust V