Final Prospectus Filed for All-Stock Acquisition of Field & Main Bancorp, Issuing 1.55M Shares

summarizeSummary

Stock Yards Bancorp filed the final prospectus for its all-stock acquisition of Field & Main Bancorp, confirming the issuance of up to 1.55 million shares and detailing the definitive terms of the $106 million transaction.

check_boxKey Events

• Acquisition Finalized

  This 424B3 filing finalizes the prospectus for the previously announced all-stock acquisition of Field & Main Bancorp, Inc. by Stock Yards Bancorp, Inc., with an implied value of approximately $106 million.

• Share Issuance and Dilution

  Stock Yards Bancorp will issue up to 1,553,704 shares of its common stock as merger consideration, leading to an approximate 5.26% dilution for existing shareholders.

• Guaranteed Shareholder Approval

  Field & Main Bancorp's board unanimously approved the merger, and the Preston Family Trusts, holding 65.04% of Field & Main Bancorp's common stock, have signed a support agreement to vote in favor, ensuring shareholder approval.

• Strategic Expansion and Executive Integration

  The merger is expected to create efficiencies and expand market reach. Field & Main Bancorp's CEO, Scott P. Davis, will join Stock Yards Bancorp's board, and other key executives will assume roles in the combined entity.

auto_awesomeAnalysis

This filing serves as the definitive prospectus for Stock Yards Bancorp's all-stock acquisition of Field & Main Bancorp, finalizing the terms and confirming the issuance of shares. The acquisition, valued at approximately $106 million, involves the issuance of up to 1,553,704 shares of Stock Yards Bancorp common stock, which represents a notable dilution of approximately 5.26% to existing shareholders. The transaction is strategically important for expanding Stock Yards Bancorp's market presence in Kentucky and Indiana. Shareholder approval from Field & Main Bancorp is effectively guaranteed due to a support agreement from the Preston Family Trusts, who collectively own 65.04% of Field & Main Bancorp's common stock. A lock-up agreement is in place for these shareholders, restricting the sale of their newly acquired Stock Yards Bancorp shares to manage potential selling pressure.