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Note 27 - Stock Yards Bancorp, Inc. (Parent Company Only) | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
(27) | Stock Yards Bancorp, Inc. (parent company only)
Condensed Balance Sheets
|  | December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Assets |  |  |  |  |  |  |  |
Cash on deposit with subsidiary bank |  | $ | 8,683 |  |  | $ | 3,489 |
Investment in and receivable from subsidiaries |  |  | 759,939 |  |  |  | 658,901 |
Other assets |  |  | 18,664 |  |  |  | 13,917 |
Total assets |  | $ | 787,286 |  |  | $ | 676,307 |
Liabilities and stockholders' equity |  |  |  |  |  |  |  |
Other liabilities |  | $ | 26,854 |  |  | $ | 438 |
Total stockholders’ equity |  |  | 760,432 |  |  |  | 675,869 |
Total liabilities and stockholders’ equity |  | $ | 787,286 |  |  | $ | 676,307 |
Condensed Statements of Income
|  | Years ended December 31, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Income - dividends and interest from subsidiaries |  | $ | 45,076 |  |  | $ | 62,941 |  |  | $ | 18,050 |
Other income |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Less expenses |  |  | 8,415 |  |  |  | 7,534 |  |  |  | 3,909 |
Income before income taxes and equity in undistributed net income of subsidiary |  |  | 36,662 |  |  |  | 55,408 |  |  |  | 14,142 |
Income tax benefit |  |  | (3,780 | ) |  |  | (2,957 | ) |  |  | (1,749 | )
Income before equity in undistributed net income of subsidiary |  |  | 40,442 |  |  |  | 58,365 |  |  |  | 15,891 |
Equity in undistributed net income of subsidiary |  |  | 52,852 |  |  |  | 16,280 |  |  |  | 42,978 |
Net income |  |  | 93,294 |  |  |  | 74,645 |  |  |  | 58,869 |
Less income attributed to non-controlling interest |  |  | 322 |  |  |  | — |  |  |  | — |
Net income available to stockholders |  | $ | 92,972 |  |  | $ | 74,645 |  |  | $ | 58,869 |
Comprehensive income (loss) |  | $ | (14,624 | ) |  | $ | 57,964 |  |  | $ | 66,933 |
Condensed Statements of Cash Flows
|  | Years ended December 31 |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income available to stockholders |  | $ | 92,972 |  |  | $ | 74,645 |  |  | $ | 58,869 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (52,852 | ) |  |  | (16,280 | ) |  |  | (42,978 | )
Decrease (increase) in receivable from subsidiaries |  |  | 6,812 |  |  |  | — |  |  |  | — |
Stock compensation expense |  |  | 4,394 |  |  |  | 4,565 |  |  |  | 3,262 |
Excess tax benefits from stock- based compensation arrangements |  |  | (1,713 | ) |  |  | (1,482 | ) |  |  | (452 | )
Loss on disposition of LFA |  |  | 870 |  |  |  | — |  |  |  | — |
Change in other assets |  |  | (6,350 | ) |  |  | (2,685 | ) |  |  | (1,356 | )
Change in other liabilities |  |  | (400 | ) |  |  | 40 |  |  |  | 17 |
Net cash provided by operating activities |  |  | 43,733 |  |  |  | 58,803 |  |  |  | 17,362 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Purchase of AFS equity security |  |  | — |  |  |  | (120 | ) |  |  | — |
Proceeds from disposition of LFA |  |  | 4,993 |  |  |  | — |  |  |  | — |
Cash for acquisition |  |  | (30,994 | ) |  |  | (28,276 | ) |  |  | — |
Net cash used in investing activities |  |  | (26,001 | ) |  |  | (28,396 | ) |  |  | — |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of common stock |  |  | (4,533 | ) |  |  | (3,618 | ) |  |  | (2,265 | )
Share repurchases related to compensation plans |  |  | (272 | ) |  |  | (208 | ) |  |  | (224 | )
Subordinated debentures acquired |  |  | 26,806 |  |  |  | — |  |  |  | — |
Cash disbursements to non-controlling interest |  |  | (322 | ) |  |  | — |  |  |  | — |
Disposition of LFA |  |  | (915 | ) |  |  | — |  |  |  | — |
Cash dividends paid |  |  | (33,302 | ) |  |  | (28,198 | ) |  |  | (24,481 | )
Net cash used in financing activities |  |  | (12,538 | ) |  |  | (32,024 | ) |  |  | (26,970 | )
Net increase (decrease) in cash |  |  | 5,194 |  |  |  | (1,617 | ) |  |  | (9,608 | )
Cash at beginning of year |  |  | 3,489 |  |  |  | 5,106 |  |  |  | 14,714 |
Cash at end of year |  | $ | 8,683 |  |  | $ | 3,489 |  |  | $ | 5,106 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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