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S.Y. Bancorp Inc. KBW 13th Annual Community Bank Investor Conference Presentation
 

S.Y. Bancorp Inc. KBW 13th Annual Community Bank Investor Conference Presentation

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    S.Y. Bancorp Inc. KBW 13th Annual Community Bank Investor Conference Presentation S.Y. Bancorp Inc. KBW 13th Annual Community Bank Investor Conference Presentation Presentation Transcript

    • S. Y. Bancorp, IS Y B Inc. KBW Conference New York N Y k 2012
    • Cautionary statement for investorsThis presentation contains forward-looking statements aboutfuture financial performance, business plans and strategies ofS.Y. Bancorp, Inc. Because forward-looking statementsinvolve risks and uncertainties, actual results may diffi l i k d t i ti t l lt differmaterially from those expressed or implied. We cautioninvestors not to place undue reliance on these forward-looking statements and advise them to carefully review therisk factors described in documents that the Company fileswith the Securities and Exchange Commission, including g , gthe Company’s most recent Annual Report on Form 10-Kand Quarterly Report on Form 10-Q.
    • Company profile• Founded in 1904• Headquartered in Louisville, Kentucky• Trades on NASDAQ Global Select under the symbol SYBT• Holding company for Stock Yards Bank & Trust Company having 31 full-service locations in the Louisville full service Louisville, Indianapolis, and Cincinnati MSAs• Bank assets of $2.1 billion at June 30, 2012• Trust assets under management of $1.85 billion at June 30, 2012
    • Overview: SYBT vs. industry Non-performing Net charge offs / Return on assets loans/ total loans total loans 2006 2009 2011 2006 2009 2011 2006 2009 2011US Banks > 0.8% 6.0% 4.3% 0.5% 2.9% 1.7% 1.3% (.1%) 0.9%$10 billionUS Banks 0.7% 4.5% 3.8% 0.2% 2.1% 1.2% 1.3% (.5%) 0.8%$1-$10 billionS. Y. Bancorp 0 6% 0 8% 1 5% 0 2%S Y B 0.6% 0.8% 1.5% 0.2% 0.6% 0.6% 1.7% 1.0% 1.2% 0 6% 0 6% 1 7% 1 0% 1 2%Source: FDIC.gov
    • Three-year financial highlights 2011 2010 2009Net interest income $ 70,732 $ 66,879 $ 58,675Trust department $ 13,841 $ 13,260 $ 11,180 revenueNet income $ 23,604 $ 22,953 $ 16,308Return on average equ ty etu o ave age equity 13.1% 3. % 14.0% .0% 10.8% 0.8%Return on average assets 1.20% 1.24% 0.95%Total assets $2,053,000 $1,903,000 $1,791,000Trust assets under $1,741,000 $1,698,000 $1,546,000 management($ in thousands)
    • Six month operating highlights Six months ended June 30, 2012 2011 % ChangeNet interest income $ 36,845 $ 34,926 5.5%Net income $ 12,605 $ 11,488 9.7%Earnings per share- $ .91 $ .83 9.6% dilutedReturn on average assetsR t g t 1.25% 1 25% 1.21% 1 21%Return on average equity 13.14% 13.26%Total assets $2,084,000 $ 1,943,000Trust assets under $1,850,000 $1,810,000 management($ in thousands except per share amounts)
    • Key drivers of financial success•Conservative credit culture providing solid credit p g metrics through varying economic cycles•Significant fee income distinguished by Significant investment management and trust revenue•Sustainable growth opportunity in large steady markets•Attraction and retention of talented people
    • Solid credit metrics (for the year ended December 31)*All publically traded banks with assets of $1 - $2.5 billion per SNL Financial
    • Loan growth($ in millions)Net interest 4.44% 4.25% 3.99% 3.74% 3.99% 3.99%margin
    • Significant fee income (for the year ended 2011) Fee income - $33 2 million $33.2 representing 32% of total revenue Service charges Peer median 18%* 25% Bankcard 11% transactions Trust 42% 6% Gains on 7% mortgage sales 9% Retail brokerage commissions Other*All publically traded banks with assets of $1 - $2.5 billion per SNL Financial
    • Wealth management profile•Assets under management $1.7 billion with Assets revenue of $13.8 million as of December 31, 2011•Median relationship size $1 8 million $1.8•Contributed $0.34 to 2011 earnings per share representing 20% of company earnings•Trust revenue excludes $2.2 million in retail brokerage revenue for 2011 b k f
    • Wealth management operating highlights Peer Stock Yards Bank (AUM $1-$10 billion) $1 $10 (1) 2011 2011 Managed assets as % of 87% 50% total assets Gross revenue as % of .80% .38% assets t Net revenue(2) as % of .38% .08% assets t( )(1) Source: Trust Performance Report as of 12-31-2011 p(2) Operating income before taxes
    • Wealth management national rankings Rankings within the top 1500 bank-owned and independent trust companies i d d tt t i Ranking Assets under management 206th Gross revenue 121st Net revenue 61st Source: Trust Performance Report as of 12 31 2011 12-31-2011
    • Market areas Indianapolis, Indiana Cincinnati, Cincinnati Ohio2 MSA population 1.8 million* de novo expansion 2003 3 MSA population 2.1 million* de novo expansion 2007 3 offices 3 offices Louisville, Kentucky MSA population 1.3 million*1 Home market establ s ed 90 established 1904 25 officesSource: U.S. Census Bureau 2010 census
    • Sustainable growth opportunity in ourmarkets (deposits) ( p )($ in billions)As of 6-30-2011 per FDIC.gov Primary county in MSA Other counties in MSA Number of branches 269 200 261 333 316 494 Average branch $59 $34 $81 $32 $147 $33 size ($ in millions)
    • Indianapolis/Cincinnati markets ($ in thousands)
    • Correspondent banking June 2012 2011 2010LoansOutstanding loans $ 39,000 $ 20,000 $ 11,000Available credit $ 19,000 $ 15,000 $ 15,000Total commited $ 58,000 $ 35,000 $ 26,000DepositsDemand deposit $ 7,000 $ 4,000 $ 8,000Certificates of deposit $ 1,000 $ 1,000 $ 1,000Fed Funds purchased $ 22,000 $ 17,000 $ 22,000 ($ in thousands)
    • Capital for endurance and opportunity “Capital to thrive, not just survive.” Total Tangible Assets Leverage Risk-based Equity* (in billions)September 30, 2008S b 30 8.4% 8 4% 11.3% 11 3% 8.4% 8 4% $1.653 $1 653December 31, 2008 10.6% 13.7% 8.8% $1.629December 31, 2009 10.2% 13.6% 8.5% $1.791June 30, 2012 , 10.9% 14.2% 9.4% $ $2.084June 30, 2012 9.6% 12.7% 9.6% $2.078 (Bank only)*Non-GAAP measurement
    • Key investment points•Time-proven track record•Diversified business model distinguished by large investment management business•Expanding presence in large markets•Strong capital position for growth and stability•Positioned for sustainable, profitable growth d bl bl h
    • NASDAQ Global Select Market SYBT