S.Y. Bancorp Reports Solid Fourth Quarter and Full-Year Results against a Backdrop of Turbulent Economic Conditions

Quarter Ended December 31, 2008 2007 Change Net income $ 5,066,000 $ 6,164,000 -18% Net income per share, diluted $ 0.37 $ 0.44 -16% Return on average equity 14.28% 18.07% Return on average assets 1.25% 1.70% Year Ended December 31, 2008 2007 Change Net income $ 21,676,000 $ 24,052,000 -10% Net income per share, diluted $ 1.59 $ 1.67 -5% Return on average equity 15.92% 17.26% Return on average assets 1.38% 1.70%

The Company's net income for the fourth quarter of 2008 included impairment and equity-method charges, recorded in non-interest expenses, totaling $866,000 ($563,000 or $0.04 per diluted share after tax) on a 2004 investment in a bank located in one of the Company's expansion markets. The impairment of this asset, the only such investment of its kind made by the Company and carried in other assets as an equity-method investment, was directly attributable to the recent decline in the market value of bank stocks and reflected the impact of accounting rules with respect to measurement of fair value. From a business and strategic point of view, the Company continues to see the benefit of this investment, in terms of its ongoing expansion in this new market, and it remains a source of new business development for the Company. After these charges, this asset is now carried at $520,000.

S.Y. Bancorp's total assets increased 10% to $1.629 billion at December 31, 2008, from $1.482 billion at December 31, 2007. The year-over-year change in total assets was driven by strong growth in the Company's loan portfolio, which rose 12% to $1.350 billion at December 31, 2008, from $1.202 billion at December 31, 2007. Deposits increased 15% to $1.271 billion at December 31, 2008, compared with $1.107 billion a year ago, with the increase reflecting higher deposits of all types. Stockholders' equity increased 9% to $144.5 million at December 31, 2008, from $133.0 million at December 31, 2007, and the Company remained "well-capitalized" under regulatory standards - the highest capital rating a financial institution can earn. The Company's Tier 1 leverage ratio, Tier 1 risk-based capital ratio and total risk-based capital ratio at December 31, 2008, were 10.65%, 12.10% and 13.90%, respectively, all exceeding the required minimums of 5%, 6% and 10%, respectively, to be deemed a well-capitalized institution.

Commenting on the Company's progress, David Heintzman, Chairman and Chief Executive Officer, said, "We are pleased to report the ongoing growth of the Company in the fourth quarter and throughout 2008, a feat made even more noteworthy given the events of the past year and the many shocks sustained by the nation's economy. Despite significant headwinds, we reported strong growth in loans and deposits for the year, underscoring the strength of our business overall and the solid presence we enjoy in our principal market of Louisville, which has not been as hard hit as other regions around the country. Our growing reach to new markets in Indianapolis and Cincinnati also contributed to the Company's steady progress.

"Concurrent with this growth, and mindful of the times, we have maintained a keen focus on credit quality," Heintzman continued. "We are gratified to note the metrics that describe our effectiveness in this area remain strong - an accomplishment that sets S.Y. Bancorp apart from many peer financial institutions. Capping the achievements of 2008 was our ability to maintain a strong and growing capital position, which should reassure our customers and depositors, while positioning us for continued growth in the future. Considering the recent consolidation and customer dislocation occurring in our industry, marked by bank failures and takeovers, we believe there will be attractive opportunities for us to gain market share and attract new, productive bankers to our company in the year ahead, both in our home market of Louisville as well as in our newer markets of Indianapolis and Cincinnati.

"As encouraged as we are about the Company's progress in 2008, especially considering the backdrop of the year, we recognize the outlook for 2009 is both challenging and uncertain," Heintzman added. "Although thus far we have avoided the consequences of lending practices that have troubled other banks, we are not likely to completely escape the impact of declining real estate values and their effect on credit quality, even though our markets have fared reasonably well in the downturn so far. Clearly, the economy is in recession, the depth and duration of which cannot be predicted. In addition, the personal wealth of many of our borrowers and guarantors, which historically has added a source of financial strength to those loans, has been negatively affected by severe market declines. Considering these uncertainties, we expect our provision for loan losses to increase over at least the near term. Moreover, we anticipate additional pressure on net interest margin in the coming year due to the unprecedented low-rate environment that now exists as well as the impact of our trust preferred securities that we recently issued to bolster capital. These pressures, together with strong competition for deposits and the impact that has on pricing, are expected to result in significantly lower net interest margin for 2009. Also, while we believe non-interest income will rise slightly next year, it is not expected to offset the anticipated increase in non-interest expense. All of these factors point toward lower net income in 2009 compared with 2008, reflecting the continuation of tough economic conditions in our industry and across the nation.

"Still, far away from the problems on Wall Street, we remained focused on the main streets of the communities we serve and on our mission to provide a full range of financial products and a high level of service for our customers to meet and address their needs, requirements and challenges," Heintzman concluded. "Considering our performance in 2008, and the fundamental strength and diversity of our business and markets, we remain confident about our prospects for growth over the longer term."

In light of current pressures on the economy and uncertainties in the banking industry, S.Y. Bancorp further strengthened its balance sheet during the fourth quarter of 2008 by raising additional capital with the sale of $30,000,000 of 10% cumulative trust preferred securities in an over-subscribed public offering. The trust preferred securities will mature on December 31, 2038, but are callable by the Company on or after December 31, 2013. This capital offering resulted in net proceeds of approximately $28.5 million and helped to increase the Company's total risk-based capital ratio to 13.90% from 10.82% at December 31, 2007, and 11.26% at September 30, 2008, all of which exceeded the 10% level required to be considered a well-capitalized institution.

As a result of its successful trust preferred offering, the Company elected not to issue preferred stock under the Treasury Department's Capital Purchase Program (CPP), even though it was approved to participate. S.Y. Bancorp already was well capitalized before the trust preferred offering, and the additional capital raised in that offering qualifies as additional Tier 1 capital. Management believes the Company remains well positioned to support the banking and lending needs of its customers today, as well as the Company's growth over the longer term, without CPP funding. Moreover, management determined that the potential dilution and uncertainty surrounding the CPP represented unnecessary burdens and risks for the Company and its shareholders. Separately, the Company also issued $10 million of subordinated debentures during the third quarter of 2008, with a 10-year term and two-year call feature. These debentures qualify as Tier 2 capital for regulatory capital purposes.

Heintzman pointed out that the Company's capital management efforts in early 2008, primarily in the form of stock repurchases, helped mitigate the impact of lower net income on earnings per share. From October 2007 to March 2008, the Company repurchased a total of 639,000 common shares under its established stock repurchase plan. Since that time, however, S.Y. Bancorp has made no purchases of its common stock, choosing instead to preserve its capital in the face of uncertain economic times. Additionally, the Company has maintained a sound and consistent dividend payout, currently reflecting an indicated annual rate of $0.68 per share. In November 2008, S.Y. Bancorp's Board of Directors maintained the regular quarterly cash dividend of $0.17 per share, which was distributed on January 2, 2009, to shareholders of record as of December 5, 2008.

Heintzman noted that recent weakness in the securities market significantly affected one important area of non-interest income for the Company. Income from investment management and trust services, which constitutes the single largest component of non-interest income and is inherently linked to securities market performance, declined 10% in the fourth quarter and 5% for the year after having posted double-digit increases on average over the last several years. Also contributing to the decline was a reduction in non-recurring estate fees. Assets under management totaled $1.347 billion at December 31, 2008, reflecting growth during 2008 from net new accounts of approximately $110 million, or double that of 2007, which offset some of the impact of falling market values.

Driven primarily by loan growth, net interest income - the Company's largest source of revenue - increased $1,516,000 or 11% in the fourth quarter of 2008 compared with the year-earlier period. Reflecting a declining interest rate environment over the past year, net interest margin for the fourth quarter of 2008 fell seven basis points year over year to 3.92% from 3.99% in the fourth quarter of 2007, but was 13 basis points higher than in the third quarter of 2008. For 2008, net interest income increased $3,167,000 or 6% versus last year, primarily due to strong loan growth. For 2008, the Company's net interest margin declined 23 basis points to 3.93% compared with 4.16% in 2007. Management believes recent and significant rate reductions by the Federal Open Market Committee, coupled with ongoing heavy competition for deposits used to fund loan growth and the impact of newly issued trust preferred securities, will put significant pressure on margins in the upcoming year.

Non-performing loans for the fourth quarter of 2008 increased to $4,710,000 from $3,370,000 in the fourth quarter of 2007 and, on a linked-quarter basis, rose from $3,940,000 in the third quarter of 2008. However, relative to total end-of-period loans outstanding, the ratio of non-performing loans remained near historical lows at 0.35% in the fourth quarter of 2008 versus 0.28% in the fourth quarter of last year and 0.30% in the third quarter of 2008. At the current level of 0.35%, non-performing loans to total loans remain only seven basis points above the lowest point for the past five years, achieved in 2007, and 10 basis points below the five-year average. Trends in net charge-offs also continue to underscore the strength of the Company's loan quality, as net charge-offs totaled $354,000 in the fourth quarter of 2008 or 0.03% of average loans, compared with $535,000 or 0.05% in the year-earlier quarter, and $571,000, or 0.04% in the third quarter of 2008. Year to date charge-offs totaled $2,119,000 or 0.16% of average loans compared to $2,278,000 or 0.20% of average loans in 2007. Despite these favorable trends, the Company remains cautious about credit quality in the near future because of uncertainties in the economy and the unknown depth and duration of the current recession.

Even though many credit quality metrics continue to trend favorably, management considers the volatility and disruption experienced in credit markets over the past year and the possibility that these conditions can place additional pressure on credit quality in determining the provision and allowance for loan losses. For the fourth quarter of 2008, the loan loss provision totaled $950,000 versus $1,435,000 in the year-earlier period. For 2008, the loan loss provision totaled $4,050,000 versus $3,525,000 in 2007. The Company's allowance for loan losses was 1.14% of total loans at December 31, 2008, up slightly from 1.12% at both December 31, 2007, and September 30, 2008.

Non-interest income declined $1,522,000 or 19% in the fourth quarter compared with the same quarter last year. Aside from lower investment management and trust income, as noted earlier, service charges on deposit accounts were down $231,000 or 10%, and various components of other income decreased. These declines were partially offset by higher bankcard transaction revenue, which rose $40,000 or 6%, and higher brokerage fees and commissions, which rose $13,000 or 3% for the quarter. Non-interest income declined $2,523,000 or 8% in 2008 compared with 2007, primarily reflecting declines in investment management and trust income, service charge income, and brokerage fees and commissions, as well as a loss on the sale of securities and lower other income.

Non-interest expense rose $636,000 or 5% in the fourth quarter of 2008 versus the same period last year, primarily because of the previously discussed impairment charge. Higher net occupancy costs and other non-interest expense also contributed to the net increase in non-interest expense in the fourth quarter of 2008. Offsetting these factors somewhat was a decline of $530,000 or 8% in salaries and employee benefits due to favorable claims experience in the Company's self-insured heath care plan, lower pension costs, and reduced bonuses, as well as a decline of $160,000 or 16% in data processing expense. Non-interest expense rose $2,354,000 or 5% in 2008 compared with the year-earlier period primarily due to salaries and employee benefits and net occupancy costs, offset by lower data processing expense. The Company continues to absorb additional costs related to its expansion in Indianapolis, where the Company opened a second office in the fourth quarter of 2007, and in Cincinnati, a market the Company also entered in the fourth quarter of 2007. Expenses for those new offices were in the start-up phase in late 2007 in terms of personnel and office space, and those expenses only reached normalized operating levels beginning in 2008. While these expansion initiatives have contributed to the Company's loan growth in 2008, they still have represented a drag on earnings this year as they continue to ramp up to a breakeven level. The Company's fourth quarter efficiency ratio was 60.01% compared with 57.03% in the fourth quarter of 2007 and 55.97% in the third quarter of 2008. For the year, the efficiency ratio increased to 57.05% from 54.68% for 2007.

Louisville, Kentucky-based S.Y. Bancorp, Inc., with $1.629 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company's common shares trade on the NASDAQ Global Select Market under the symbol SYBT. The trust preferred securities of S.Y. Bancorp Capital Trust II also trade on the NASDAQ Global Select Market under the symbol SYBTP.

This report contains forward-looking statements under the Private Securities Litigation Reform Act that involve risks and uncertainties. Although the Company's management believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of these assumptions could be inaccurate. Therefore, there can be no assurance the forward-looking statements included herein will prove to be accurate. Factors that could cause actual results to differ from those discussed in forward-looking statements include, but are not limited to: economic conditions both generally and more specifically in the markets in which the Company and its banking subsidiary operate; competition for the Company's customers from other providers of financial services; government legislation and regulation, which change from time to time and over which the Company has no control; changes in interest rates; material unforeseen changes in liquidity, results of operations, or financial condition of the Company's customers; and other risks detailed in the Company's filings with the Securities and Exchange Commission, all of which are difficult to predict and many of which are beyond the control of the Company.

S. Y. Bancorp, Inc. Financial Information Fourth Quarter 2008 Earnings Release (In thousands unless otherwise noted) Fourth Quarter Ended Twelve Months Ended December 31, December 31, 2008 2007 2008 2007 Income Statement Data Net interest income, fully tax equivalent (1) $ 14,981 $ 13,457 $ 57,872 $ 54,768 Interest income Loans $ 19,535 $ 20,985 $ 80,171 $ 84,149 Federal funds sold 26 188 478 944 Mortgage loans held for sale 31 44 218 225 Securities 1,886 1,574 6,254 5,912 Total interest income 21,478 22,791 87,121 91,230 Interest expense Deposits 5,529 7,853 24,532 31,393 Securities sold under agreements to repurchase 151 718 1,155 2,869 and federal funds purchased Other short-term borrowings 40 107 436 124 Federal Home Loan Bank advances 832 910 3,928 3,146 Subordinated debentures 209 2 212 7 Total interest expense 6,761 9,590 30,263 37,539 Net interest income 14,717 13,201 56,858 53,691 Provision for loan losses 950 1,435 4,050 3,525 Net interest income after provision for loan losses 13,767 11,766 52,808 50,166 Non-interest income Investment management and trust income 2,803 3,126 12,203 12,886 Service charges on deposit accounts 2,045 2,276 8,350 8,758 Bankcard transaction revenue 671 631 2,645 2,359 Gains on sales of mortgage loans held for sale 254 290 1,253 1,164 Gain (loss) on the sale of securities - - (607 ) - Brokerage commissions and fees 499 486 1,797 1,929 Bank owned life insurance 247 252 1,020 985 Other non-interest income (199 ) 781 1,148 2,251 Total non-interest income 6,320 7,842 27,809 30,332 Non-interest expense Salaries and employee benefits expense 6,368 6,898 27,686 27,002 Net occupancy expense 1,081 985 4,247 3,722 Data processing expense 838 998 3,326 4,043 Furniture and equipment expense 275 275 1,117 1,148 State bank taxes 340 340 1,334 1,155 Other non-interest expenses 3,880 2,650 11,175 9,461 Total non-interest expense 12,782 12,146 48,885 46,531 Net income before income tax expense 7,305 7,462 31,732 33,967 Income tax expense 2,239 1,298 10,056 9,915 Net income $ 5,066 $ 6,164 $ 21,676 $ 24,052 Weighted average shares - basic 13,463 13,779 13,440 14,168 Weighted average shares - diluted 13,675 13,974 13,630 14,389 Basic earnings per share $ 0.38 $ 0.45 $ 1.61 $ 1.70 Diluted earnings per share 0.37 0.44 1.59 1.67 Cash dividend declared per share 0.17 0.16 0.68 0.63 Balance Sheet Data (at period end) Total loans $ 1,349,637 $ 1,201,938 Allowance for loan losses 15,381 13,450 Total assets 1,628,763 1,482,219 Non-interest bearing deposits 182,778 170,477 Interest bearing deposits 1,088,147 936,230 Federal home loan bank advances 70,000 90,000 Subordinated debentures 40,960 90 Stockholders' equity 144,500 133,024 Total shares outstanding 13,474 13,600 Book value per share 10.72 9.78 Market value per share 27.50 23.94

S. Y. Bancorp, Inc. Financial Information Fourth Quarter 2008 Earnings Release Fourth Quarter Ended Twelve Months Ended December 31, December 31, 2008 2007 2008 2007 Average Balance Sheet Data Average federal funds sold $ 6,487 $ 16,838 $ 23,992 $ 18,211 Average investment securities 188,554 144,352 148,539 137,278 Average loans 1,323,434 1,178,068 1,295,711 1,159,101 Average earning assets 1,520,146 1,341,624 1,472,099 1,317,963 Average assets 1,616,476 1,436,666 1,567,967 1,413,614 Average interest bearing deposits 1,079,625 917,475 1,039,723 910,735 Average total deposits 1,268,244 1,089,400 1,216,833 1,081,483 Average federal funds purchased and securities sold under 80,458 89,972 79,582 86,248 agreement to repurchase Average short-term borrowings 5,612 5,391 12,099 1,980 Average long-term debt 85,909 76,394 89,372 65,792 Average interest bearing liabilities 1,251,603 1,089,233 1,220,776 1,064,754 Average stockholders' equity 141,129 135,370 136,112 139,357 Performance Ratios Annualized return on average assets 1.25 % 1.70 % 1.38 % 1.70 % Annualized return on average equity 14.28 % 18.07 % 15.92 % 17.26 % Net interest margin, fully tax equivalent 3.92 % 3.99 % 3.93 % 4.16 % Non-interest income to total revenue, fully tax equivalent 30.04 % 36.62 % 32.85 % 35.54 % Efficiency ratio 60.01 % 57.03 % 57.05 % 54.68 % Capital Ratios Average stockholders' equity to average assets 8.73 % 9.42 % 8.68 % 9.86 % Tier 1 risk-based capital 12.10 % 9.82 % Total risk-based capital 13.90 % 10.82 % Leverage 10.65 % 9.21 % Loans by Type Commercial and industrial $ 348,174 $ 309,506 Construction and development 167,402 144,668 Real estate mortgage - commercial investment 248,308 240,610 Real estate mortgage - owner occupied commercial 249,164 200,122 Real estate mortgage - 1-4 family residential 160,322 145,362 Home equity - first lien 22,973 Home equity - junior lien 122,535 Home equity (2) 136,962 Consumer 30,759 24,708 Asset Quality Data Allowance for loan losses to total loans 1.14 % 1.12 % Allowance for loan losses to average loans 1.19 % 1.16 % Allowance for loan losses to non-performing loans 326.56 % 399.11 % Nonaccrual loans $ 4,455 $ 2,964 Restructured loans - - Loans - 90 days past due & still accruing 255 406 Total non-performing loans 4,710 3,370 OREO and repossessed assets 1,656 3,831 Total non-performing assets 6,366 7,201 Non-performing loans to total loans 0.35 % 0.28 % Non-performing assets to total assets 0.39 % 0.49 % Net charge-offs to average loans (3) 0.03 % 0.05 % 0.16 % 0.20 % Net charge-offs $ 354 $ 535 $ 2,119 $ 2,278 Other Information Total assets under management (in millions) $ 1,347 $ 1,669 Full-time equivalent employees 464 446 (2) - In September 2008, the Company changed its presentation for disclosing the types of loans in its portfolio to provide more detailed information. Home equity lines of credit were divided into two categories - first lien and junior lien; however, it was not feasible to obtain comparable amounts for these categories for prior periods.

S. Y. Bancorp, Inc. Financial Information Fourth Quarter 2008 Earnings Release Five Quarter Comparison 12/31/08 9/30/08 6/30/08 3/31/08 12/31/07 Income Statement Data Net interest income, fully tax equivalent (1) $ 14,981 $ 14,722 $ 14,662 $ 13,508 $ 13,457 Net interest income $ 14,717 $ 14,465 $ 14,415 $ 13,261 $ 13,201 Provision for loan losses 950 900 975 1,225 1,435 Net interest income after provision for loan losses 13,767 13,565 13,440 12,036 11,766 Investment management and trust income 2,803 2,885 3,236 3,279 3,126 Service charges on deposit accounts 2,045 2,196 2,117 1,992 2,276 Bankcard transaction revenue 671 662 691 621 631 Gains on sales of mortgage loans held for sale 254 366 319 314 290 Gain (loss) on the sale of securities - (607 ) - - - Brokerage commissions and fees 499 413 444 441 486 Bank owned life insurance 247 263 258 252 252 Other non-interest income (199 ) 396 529 422 781 Total non-interest income 6,320 6,574 7,594 7,321 7,842 Salaries and employee benefits expense 6,368 6,824 7,335 7,159 6,898 Net occupancy expense 1,081 1,121 1,036 1,009 985 Data processing expense 838 840 896 752 998 Furniture and equipment expense 275 290 276 276 275 State bank taxes 340 340 314 340 340 Other non-interest expenses 3,880 2,505 2,412 2,378 2,650 Total non-interest expense 12,782 11,920 12,269 11,914 12,146 Net income before income tax expense 7,305 8,219 8,765 7,443 7,462 Income tax expense 2,239 2,776 2,636 2,405 1,298 Net income $ 5,066 $ 5,443 $ 6,129 $ 5,038 $ 6,164 Weighted average shares - basic 13,463 13,435 13,409 13,452 13,779 Weighted average shares - diluted 13,675 13,652 13,584 13,610 13,974 Basic earnings per share $ 0.38 $ 0.41 $ 0.46 $ 0.37 $ 0.45 Diluted earnings per share 0.37 0.40 0.45 0.37 0.44 Cash dividend declared per share 0.17 0.17 0.17 0.17 0.16 Balance Sheet Data (at period end) Total loans $ 1,349,637 $ 1,316,661 $ 1,320,509 $ 1,289,913 $ 1,201,938 Allowance for loan losses 15,381 14,785 14,456 14,097 13,450 Total assets 1,628,763 1,653,456 1,596,320 1,517,258 1,482,219 Non-interest bearing deposits 182,778 184,647 182,580 175,028 170,477 Interest bearing deposits 1,088,147 1,081,319 1,080,752 972,980 936,230 Federal home loan bank advances 70,000 90,000 90,000 90,000 90,000 Subordinated debentures 40,960 10,060 60 60 90 Stockholders' equity 144,500 138,910 134,848 131,547 133,024 Total shares outstanding 13,474 13,457 13,424 13,406 13,600 Book value per share 10.72 10.32 10.05 9.81 9.78 Market value per share 27.50 30.62 21.36 23.24 23.94

S. Y. Bancorp, Inc. Financial Information Fourth Quarter 2008 Earnings Release Five Quarter Comparison 12/31/08 9/30/08 6/30/08 3/31/08 12/31/07 Average Balance Sheet Data Average loans $ 1,323,434 $ 1,315,401 $ 1,308,304 $ 1,235,185 $ 1,178,068 Average assets 1,616,476 1,647,361 1,536,473 1,470,153 1,436,666 Average earning assets 1,520,146 1,552,961 1,443,187 1,376,233 1,341,624 Average total deposits 1,268,244 1,292,493 1,187,325 1,117,873 1,089,400 Average long-term debt 85,909 90,169 91,379 90,062 76,394 Average interest bearing liabilities 1,251,603 1,294,216 1,195,756 1,140,382 1,089,233 Average stockholders' equity 141,129 136,664 134,696 131,901 135,370 Performance Ratios Annualized return on average assets 1.25 % 1.31 % 1.60 % 1.38 % 1.70 % Annualized return on average equity 14.28 % 15.84 % 18.30 % 15.36 % 18.07 % Net interest margin, fully tax equivalent 3.92 % 3.79 % 4.07 % 3.95 % 3.99 % Non-interest income to total revenue, fully tax equivalent 30.04 % 30.55 % 34.40 % 35.24 % 36.62 % Efficiency ratio 60.01 % 55.97 % 55.13 % 57.26 % 57.03 % Capital Ratios Average stockholders' equity to average assets 8.73 % 8.30 % 8.77 % 8.97 % 9.42 % Tier 1 risk-based capital 12.10 % 9.55 % 9.31 % 9.07 % 9.82 % Total risk-based capital 13.90 % 11.26 % 10.32 % 10.06 % 10.82 % Leverage 10.65 % 8.40 % 8.75 % 8.85 % 9.21 % Loans by Type Commercial and industrial $ 348,174 $ 338,489 $ 331,665 $ 332,144 $ 309,506 Construction and development 167,402 173,879 182,041 174,604 144,668 Real estate mortgage - commercial investment 248,308 258,687 264,743 252,706 240,610 Real estate mortgage - owner occupied commercial 249,164 210,456 207,398 202,714 200,122 Real estate mortgage - 1-4 family residential 160,322 159,034 160,152 148,324 145,362 Home equity - 1st lien 22,973 24,458 Home equity - junior lien 122,535 118,672 Home equity (2) 142,154 136,064 136,962 Consumer 30,759 35,318 38,037 43,357 24,708 Asset Quality Data Allowance for loan losses to total loans 1.14 % 1.12 % 1.09 % 1.09 % 1.12 % Allowance for loan losses to average loans 1.16 % 1.12 % 1.10 % 1.14 % 1.16 % Allowance for loan losses to non-performing loans 326.56 % 375.25 % 263.75 % 307.19 % 399.11 % Nonaccrual loans $ 4,455 $ 3,880 $ 4,938 $ 4,034 $ 2,964 Restructured loans - - - - - Loans - 90 days past due & still accruing 255 60 543 555 406 Total non-performing loans 4,710 3,940 5,481 4,589 3,370 OREO and repossessed assets 1,656 3,182 2,995 3,715 3,831 Total non-performing assets 6,366 7,122 8,476 8,304 7,201 Non-performing loans to total loans 0.35 % 0.30 % 0.42 % 0.36 % 0.28 % Non-performing assets to total assets 0.39 % 0.43 % 0.53 % 0.55 % 0.49 % Net charge-offs to average loans (3) 0.03 % 0.04 % 0.05 % 0.05 % 0.05 % Net charge-offs $ 354 $ 571 $ 616 $ 578 $ 535 Other Information Total assets under management (in millions) $ 1,347 $ 1,464 $ 1,536 $ 1,549 $ 1,669 Full-time equivalent employees 464 459 457 460 446 (1) - Interest income on a fully tax equivalent basis includes the additional amount of interest income that would have been earned if investments in certain tax-exempt interest earning assets had been made in assets subject to federal, state and local taxes yielding the same after-tax income. (2) - In September 2008, the Company changed its presentation for disclosing the types of loans in its portfolio to provide more detailed information. Home equity lines of credit were divided into two categories - first lien and junior lien; however, it was not feasible to obtain comparable amounts for these categories for prior periods. (3) - Amounts not annualized Certain prior-period amounts have been reclassified to conform with current presentation.

SOURCE: S.Y. Bancorp, Inc.

S.Y. Bancorp, Inc. Nancy B. Davis, 502-625-9176 Executive Vice President, Treasurer and Chief Financial Officer