Stock Yards Bancorp Signs Agreement to Acquire Field & Main for Approximately $105.7 Million
Stock Yards Bancorp announced the signing of a definitive agreement to acquire Field & Main Bancorp. The all stock transaction is expected to close during the second quarter of 2026, subject to approval of Field & Main shareholders and completion of customary regulatory approval and closing conditions. Under the terms of the merger agreement, Field & Main shareholders will have the right to receive 0.6550 shares of Stock Yards common stock for each share of Field & Main common stock, with total consideration to consist of 100% stock. Based upon the closing price of Stock Yards' common stock of $68.01 on January 26, 2026, the implied per share purchase price is $44.55, with an aggregate transaction value of approximately $105.7M. The transaction is expected to be 5.7% accretive to Stock Yards' earnings per share once cost savings are fully phased in. In addition, tangible book value dilution is expected to be approximately 0.9% and be earned back in approximately 0.9 years. Post-closing, Stock Yards capital ratios are expected to exceed "well-capitalized" levels.
