Revenue during the quarter grew 11.66 percent to $35.89 million from $32.14 million in the previous year period. Net interest income for the quarter rose 9.87 percent over the prior year period to $25.08 million. Non-interest income for the quarter rose 12.37 percent over the last year period to $11.32 million.

Stock Yards Bancorp, Inc. has made provision of $0.50 million for loan losses during the quarter, down 33.33 percent from $0.75 million in the same period last year.

Net interest margin contracted 1 basis points to 3.56 percent in the quarter from 3.57 percent in the last year period. Efficiency ratio for the quarter deteriorated to 58.13 percent from 55.32 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"We are pleased to report a strong finish to 2016, capping another year of growth and increasing profitability, as total assets surpassed $3 billion and net income reached another record amount," said David P. Heintzman, chairman and chief executive officer. "A central driver for this performance can be seen in our outstanding loan production this past year, which marked a new high point for the Bank and, importantly, reflected increases across all three of our markets. This progress, in turn, powered a 13% rise in our loan portfolio for the year, while credit quality metrics remained exceptionally strong. The Company's results also reflected a 9% increase in fee-based income, which continued to comprise 31% of our total revenue for 2016. This level is well ahead of peers and even more impressive given the higher net interest income associated with loan portfolio growth. Together, these factors continue to drive consistent, predictable results that translate into attractive returns on assets and equity, and provide the foundation for steadily higher cash dividends for our stockholders."

Noninterest-bearing deposit liabilities were $680.16 million or 26.98 percent of total deposits on Dec. 31, 2016, compared with $583.77 million or 24.61 percent of total deposits on Dec. 31, 2015.

Shareholders equity stood at $313.87 million as on Dec. 31, 2016, up 9.55 percent or $27.35 million from year-ago.

Return on average assets was stable at 1.41 percent in the quarter, when compared with the last year period. At the same time, return on average equity was stable at 13.44 percent in the quarter, when compared with the last year period.

Equity to assets ratio was 10.33 percent for the quarter, up from 10.17 percent for the previous year quarter. Book value per share was $13.88 for the quarter, up 8.44 percent or $1.08 compared to $12.80 for the same period last year.