Stock Yards Bancorp reported fourth-quarter earnings of $1.24 per share, surpassing the Zacks Consensus Estimate of $1.20 and representing a 15.9% increase from the $1.07 per share earned in the year-ago quarter. This beat reflects ongoing margin expansion in its core community banking operations, as net interest margin widened by 12 basis points sequentially. Noninterest income also grew 5% year-over-year, driven by higher service charges and trust fees, while the provision for credit losses remained stable at $5.2 million, supporting a return on average assets of 1.05%.

At December 31, 2025, Stock Yards held $9.54 billion in total assets, up 8.3% from a year earlier. Gross loans grew 7.5% to $7.92 billion, powered by 9% growth in commercial real estate lending, while total deposits increased 6.8% to $8.62 billion. The company maintained a strong capital position, with a common equity Tier 1 ratio of 12.4% and a tangible common equity ratio of 8.9%, both comfortably above regulatory well-capitalized thresholds.

On January 27, 2026, Stock Yards signed a definitive agreement to acquire Field & Main Bancorp in an all-stock transaction valued at approximately $105.7 million. Under the terms, Field & Main shareholders will receive 0.6550 shares of Stock Yards common stock for each Field & Main share, implying an acquisition multiple of 13.1x 2025 adjusted earnings. The deal, expected to close in Q2 2026, adds $861 million in assets, $652 million in loans and $781 million in deposits, and is projected to be 5.7% accretive to EPS upon full realization of cost synergies.

The combined organization will operate 81 branches with approximately $10.4 billion in assets, $7.9 billion in loans, $8.6 billion in deposits and $8.4 billion in trust assets under management. Management expects tangible book value dilution of 0.9%, to be recouped within 0.9 years, while post-closing capital ratios are projected to exceed well-capitalized levels. The acquisition extends Stock Yards’ footprint in Western Kentucky and adjacent Indiana markets, enhances operating leverage and is forecast to contribute to earnings growth by broadening fee-based income streams.