S.Y. Bancorp Inc. in Louisville said Wednesday that its second-quarter earnings fell 3% from a year earlier, to $6.1 million. Earnings per share rose 2 cents, to 45 cents — an increase the $1.6 billion-asset company attributed to an aggressive stock repurchase program.
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The parent of Stock Yards Bank and Trust Co. said its nonperforming loans increased 15%, to $5.5 million. Its nonperforming loan ratio rose 1 basis point, to 0.42% of total loans, but stayed below its average for the past five years.
Net chargeoffs were unchanged from a year earlier and the first quarter at $616,000, or 0.05% of average loans.
S.Y.'s net interest margin declined 19 basis points from a year earlier but rose 12 basis points from the first quarter, to 4.07%.
