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