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Stock Yards Bancorp (SYBT) investor relations material
Stock Yards Bancorp M&A announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Deal rationale and strategic fit
Expands and accelerates presence in Western Kentucky, especially Henderson, and enhances scale and market leadership in assets, deposits, and wealth management.
Combines two community-focused banks with minimal market overlap, shared client-centric cultures, and complementary franchises.
Enhances wealth management capabilities, adding $0.8B in assets under management.
Leadership from the acquired entity will join the board and senior management, supporting integration and continuity.
Strengthens market penetration and operating leverage in Kentucky and adjacent metropolitan areas.
Financial terms and conditions
All-stock transaction: Field & Main shareholders receive 0.655 shares of Stock Yards common stock per Field & Main share.
Implied per share purchase price is $44.55, with an aggregate transaction value of $105.7 million.
Pro forma ownership: 95% acquirer, 5% acquired.
Transaction expected to be 5.7% accretive to earnings per share in 2027; tangible book value dilution of 0.9% earned back in under one year.
Pro forma TCE ratio expected at 9.5% and total risk-based capital ratio at 13.4% at close.
Synergies and expected cost savings
Cost savings estimated at 34% of Field & Main's non-interest expenses, with 33% realized in 2026 and full realization in 2027.
Revenue synergies identified but not included in financial modeling.
Enhanced operating leverage and expanded capabilities anticipated for customers in Western Kentucky and adjacent markets.
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