Stock Yards Bank & Trust Company is headquartered in LOUISVILLE and is the largest bank in the state of Kentucky. It is also the 188th largest bank in the nation. It was established in 1904 and as of December of 2023, it had grown to 1,075 employees at 77 locations. Stock Yards Bank & Trust Company's CD rates are 3X the national average, and it has an A health rating.
Fantastic Customer Service
I have been a customer of Stock Yards Bank both personally and professionally for the last 3 years. I prefer Stock Yards Bank over larger banks in Kentucky. Each time I call, I find the staff across multiple departments at SYB to be engaging and personable. They actually take the time to answer questions and are genuinely interested in helping you. Stock Yards has helped me with a variety of loan products for my business and home over the last few years. The underwriting has always been prompt and easily understood. The loan terms are better than any of the other banks in the area which is an obvious benefit. You can tell that the bank has a vested interest in promoting the well being of the community that they are a part of. I felt compelled to write this review when a bank manager at the Outer Loop office recently provided me with his time, advice and counsel on a banking issue even though there was not an immediate benefit to himself or the bank. It is this type of customer focused professionalism that keeps me coming back time each time I need a new account or loan. I highly recommend using Stock Yards Bank.
Step Back In Time
So far I'm so thrilled I can't tell you. A small local bank that operates like it's 1980 - friendly but professional personalized service, no phone tree, small brick and mortar location. Combine that with the same good online products and services as any modern bank. Plus a rewards checking with a very competitive rate, really no fees, and very modest hoops to earn interest. I literally could not ask for more than this. Update 10-3-23: Well maybe not so much. The in person experience is great, I love them. But so far, after 6 weeks: My checks I asked for (which I saw the rep enter) never arrived and had to be reordered. There was no place to enter the external micro deposits to link another bank, so they (online CS) entered the account number manually and they entered it wrong, so my transfer was credited from thin air and never debited my other bank. The message I sent to the online center about this was never answered. Now we're doing it all over again. There's still no place to enter the micro deposits I've received. They say I'll receive a call checking to be sure the link isn't fraudulent (a new security feature). Which means if I miss that call, I'll spend another 2 hours on hold calling CS back, because this isn't a branch issue.
They said I was on e-statements from the start and I believe that I saw that. I never got an e-statement OR a paper statement, but no interest was credited. When I asked yesterday they said the first cycle won't count (this was the second cycle, but I have had $ in here for six weeks and $8K in here for three, and so far have received $.56 in interest instead of the $25 or more I should have, plus a $5 penalty fee (which they did refund). Today I log in and there's a new terms form to agree to. Hitting the agree button takes me to a completely blank screen. It's like they know what people want, they claim they have it, and none of it is actually working in real life. ('ve given them 1 star for competitive products because what they promise is competitive, but so far I haven't received any of it.)
Buyer Beware (Of This Bank)
Buyer Beware! These are not 'stand-up' folks. I deposited nearly $7,000 in my account and received a receipt for the deposit. The deposit was never reflected in my account. The bank thinks that there was a 'machine error' which caused the problem. Regardless, they are unwilling to 'fix' the problem in terms of reimbursing me for the lost money. They regard it as 'my problem.' I have two bank accounts with them, which I am in the process of terminating, and a trust, which is being moved elsewhere. During the Civil War, someone was asked whether he trusted a particular politician. He replied, 'I wouldn't trust him as far as I could throw a pot-bellied stove.' When the politician demanded a retraction, the person replied, 'Okay, I do trust him—as far as I can throw a pot-bellied stove.' That sums up my feelings about Stockyards Bank. Buyer Beware!!!!!!!!!! I'm getting out of this bank ASAP!
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 258 |
| Year Established | 1904 |
| Employees | 1075 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.43% |
| Return on Equity - YTD | 13.78% |
| Annual Interest Income | $346.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $8.17B$7.49B |
| Loans | Q4 2023vs Q4 2022 | $5.7B$5.13B |
| Deposits | Q4 2023vs Q4 2022 | $6.68B$6.4B |
| Equity Capital | Q4 2023vs Q4 2022 | $857.5MM$756.2MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $79.4MM$73.5MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $18.7MM$14.7MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $10K$677K |
