8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K


                                 CURRENT REPORT


                PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

                              EXCHANGE ACT OF 1934


         Date of Report (date of earliest event reported): May 15, 2007

                               S.Y. BANCORP, INC.

             (Exact name of registrant as specified in its charter)



   Kentucky                         1-13661                      61-1137529
   --------                         -------                      ----------
 (State or other            (Commission File Number)          (I.R.S. Employer
 jurisdiction of                                             Identification No.)
 incorporation
or organization)

               1040 East Main Street, Louisville, Kentucky, 40206
               --------------------------------------------------
                    (Address of principal executive offices)


                                 (502) 582-2571
                                 --------------
              (Registrant's telephone number, including area code)




Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




ITEM 8.01. OTHER EVENTS.
On May 15, 2007, the Board of Directors of S.Y. Bancorp, Inc. voted to increase
the Company's quarterly cash dividend rate 7% to $0.16 per common share. The new
rate will go into effect with the next payment on July 2, 2007, to stockholders
of record as of June 15, 2007. On May 16, 2007, S.Y. Bancorp, Inc. issued a
press release, a copy of which is attached hereto as Exhibit 99.1 and
incorporated by reference, announcing the dividend increase.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

   D.      Exhibits

           99.1      Press Release dated May 16, 2007.

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Date:   May 16, 2007                    S.Y. BANCORP, INC.

                                        By:      /s/ Nancy B. Davis
                                                 -------------------------------
                                                  Nancy B. Davis, Executive Vice
                                                  President, Treasurer and Chief
                                                  Financial Officer

EX-99.1

                                                                    Exhibit 99.1

  S.Y. Bancorp Increases Quarterly Cash Dividend 7% To $0.16 Per Common Share

     LOUISVILLE, Ky.--(BUSINESS WIRE)--May 16, 2007--S.Y. Bancorp, Inc. (NASDAQ:
SYBT), parent company of Stock Yards Bank & Trust Company, with offices in
Louisville, southern Indiana and Indianapolis, today announced that its Board of
Directors has voted to increase the Company's quarterly cash dividend rate 7% to
$0.16 per common share. The new rate will go into effect with the next payment
on July 2, 2007, to stockholders of record as of June 15, 2007.

     Commenting on the announcement, David Heintzman, Chairman and Chief
Executive Officer, said, "We are pleased to announce another increase in the
Company's dividend payment, enabling our shareholders to participate more
directly in the Company's ongoing progress and prosperity. The Board's action
underscores our desire to use the Company's strong capital position and earnings
to build shareholder value over the long term."

     S. Y. Bancorp, Inc., with $1.414 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 in Louisville, Kentucky, and now
has offices in metropolitan Louisville and Indianapolis. The Company's stock
trades on NASDAQ under the symbol SYBT.

     This release 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 subsidiaries 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.


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