Stock Yards Bancorp will acquire Field & Main in a 100% stock deal valued at about $105.7 million. The acquisition will add six branches and $861 million in assets to Stock Yards, creating a combined franchise of $10.4 billion in assets. The deal is expected to be 5.7% EPS accretive in 2027 with cost savings of 34%.

Field & Main Bank, with roots dating back to 1887, operates six branches in Kentucky and Indiana. Stock Yards sees the acquisition as a strategic move to expand into Western Kentucky and grow its community banking presence. The two banks’ cultures are aligned, with a focus on service over size.

The merger will result in a combined $10.4 billion in assets, $7.9 billion in gross loans, $8.6 billion in deposits, and $8.4 billion in trust assets under management through an 81-branch network. Stock Yards expects the deal to be 5.7% accretive to EPS in 2027 with tangible book value dilution of 0.9%.

Management anticipates closing the deal in the second quarter pending approvals, with system conversion expected in October. The company aims to preserve customer-facing jobs and minimize disruptions for Field & Main customers. Executives expressed confidence in organic growth post-acquisition.

Stock Yards plans to manage its balance sheet around the $10 billion asset threshold, with strategic moves to stay below the threshold in 2026 and cross it in 2027. The company expects some impact on interchange income but aims to maintain balance sheet efficiency.

Regarding wealth management, Stock Yards plans to expand capabilities in Western and South Central Kentucky and enhance Field & Main’s existing wealth team. The focus is on personalized service, local decision-making, and sustainable growth in the markets it serves.

Read more at Yahoo Finance: Stock Yards Bancorp to Buy Field & Main in $106M Stock Deal, Targets Western Kentucky Expansion