Business
Stock Yards Bancorp Completes Acquisition of Commonwealth Bancshares
LOUISVILLE, Ky., March 07, 2022 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (“Stock Yards” or the “Company”) (NASDAQ: SYBT), the parent company of Stock
About this update from Stock Yards Bancorp, Inc.
[{"type":"text","content":"LOUISVILLE, Ky., March 07, 2022 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (“Stock Yards” or the “Company”) (NASDAQ: SYBT), the parent company of Stock Yards Bank & Trust Company, with offices in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today announced that it has completed its previously announced acquisition of Commonwealth Bancshares, Inc. Commonwealth Bancshares, headquartered in Louisville, Kentucky, is the holding company for Commonwealth Bank & Trust Company, which operates 15 retail branches including nine branches in Jefferson County, four in Shelby County and two in Northern Kentucky. “We are pleased to announce the completion of the merger and to have Commonwealth Bancshares shareholders, customers and employees join the Stock Yards team,” said James A. (Ja) Hillebrand, Chairman and Chief Executive Officer. “This acquisition brings together two Louisville based community banks who are like-minded with complementary cultures. The transaction not only builds upon our already prominent market share in the Louisville market, as Commonwealth is the largest privately-held bank headquartered in the Louisville MSA, but also expands our presence in the attractive Shelby County and Northern Kentucky markets.” As a result of the merger, customers will not experience any immediate changes to their banking and should continue using their respective Commonwealth Bank & Trust branches, checks, bank cards, online and mobile banking, and other banking services as they usually do. Stock Yards Bank and Commonwealth Bank & Trust will continue to operate under their respective brands until the system integration is completed on March 28, 2022. About Stock Yards Bancorp, Inc. Louisville, Kentucky-based Stock Yards Bancorp, Inc. with $6.65 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 Stock Market under the symbol SYBT. For more information about Stock Yards Bancorp, visit the Company’s website at www.syb.com. Forward-Looking Statements Certain statements contained in this communication, which are not statements of historical fact, constitute forward-looking statements within the meani...