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