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Stock Update: Stock Yards Bancorp

Stock Yards was the second-best performer with an increase of $2.57 million. The bank was a new addition to the Fund in January when we were able to purchase shares at what we felt was a good price. Given the performance of the stock in 2016, it proved to be a good price.  The bank provides commercial lending, investment management, and trust services.  Management sticks to what they do well and has steadily grown earnings. The financial profile of the bank may get a boost as interest rates rise because they should be able to make more money on each loan without doing anything. They should also benefit if banking regulations relax. Regulations have been a significant burden on banks for the last few years. After the presidential election, bank stocks, as a group, jumped on the prospect of higher interest rates and less regulation. 

The portfolio is actively managed. For the FAM Equity-Income Fund's current Top 10 Holdings to the most recent quarter-end, view its Portfolio Details.

To obtain the FAM Equity-Income Fund's performance data that is current to the most recent month-end, click here.

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