By Rachel Nix, Building Kentucky
The previously announced acquisition of Kentucky Bank by Stock Yards Bank & Trust Company owner Stock Yard Bancorp, Inc. is complete. The combined banks will offer the greatest number of branch locations, 50, for any Kentucky-based community bank – and will rank as the 2nd largest such bank by deposits.
Stock Yards Bancorp, Inc., the parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, Lexington, Indianapolis and Cincinnati metropolitan markets, completed its acquisition of Kentucky Bancshares, Inc., which was announced in January
Kentucky Bancshares, headquartered in Paris, Kentucky, is the holding company for Kentucky Bank, which operates 19 branches in 11 communities throughout central and eastern Kentucky, including the Lexington, Kentucky metropolitan statistical area and contiguous counties.
“We are pleased to announce the completion of the merger and to have Kentucky Bancshares shareholders, customers and employees join the Stock Yards team,” said James A. (Ja) Hillebrand, Chairman and Chief Executive Officer. “This merger expands our presence throughout central and eastern Kentucky and allows broader product offerings, increased lending capabilities and an expanded branch delivery system to our new customers. Additionally, the larger organization provides solid growth opportunities for us and a platform for future expansion.”
The two banks have similar roots in Kentucky history. Kentucky Bank originated in Paris, KY in 1851, serving the agricultural economy of the region. Stock Yards Bank traces its history to 1904, when it opened to serve the livestock and agribusiness industries at The Bourbon Stock Yards in Louisville.