Stock Yards Bancorp, the Louisville, Kentucky based parent of Stock Yards Bank & Trust Company, has signed a definitive agreement to acquire Field & Main Bancorp, Inc., parent of Field & Main Bank, in an all stock transaction expected to close in the second quarter of 2026, subject to Field & Main shareholder approval, customary regulatory approvals, and other closing conditions.
The companies said the combination is intended to accelerate Stock Yards’ expansion across Western Kentucky, including the corridor from Henderson through Owensboro, Bowling Green and Hopkinsville to Paducah, supported by the recent addition of a Bowling Green Market President. Field & Main’s footprint is expected to provide Stock Yards with an immediately scalable presence in the region, while maintaining a community banking focus and relationship driven approach.
Field & Main is headquartered in Henderson, Kentucky and operates six retail branches across Henderson, Lexington and Cynthiana, Kentucky, and Evansville, Indiana. As of December 31, 2025, Field & Main reported approximately $861 million in assets, $652 million in loans, and $781 million in deposits, and it also operates a Wealth Management and Trust Department with approximately $800 million in assets under management.
On a pro forma basis, the combined franchise is expected to operate 81 branches with total assets of approximately $10.4 billion, $7.9 billion in gross loans, $8.6 billion in deposits, and $8.4 billion in trust assets under management.
Under the terms of the merger agreement, Field & Main shareholders will be entitled to receive 0.6550 shares of Stock Yards common stock for each share of Field & Main common stock. Based on Stock Yards’ closing price of $68.01 on January 26, 2026, the implied per share value is $44.55, representing an aggregate transaction value of approximately $105.7 million. Stock Yards expects the transaction to be 5.7% accretive to earnings per share once cost savings are fully phased in, with tangible book value dilution of about 0.9% and an earn-back period of roughly 0.9 years under the crossover method. Post-closing capital ratios are expected to remain above well-capitalized thresholds.
Following completion of the transaction, Field & Main Chairman and CEO Scott P. Davis, who currently serves on Field & Main’s board, is expected to join the Stock Yards board.
Support: Stephens Inc. served as financial advisor, and FBT Gibbons served as legal counsel to Stock Yards. Raymond James & Associates served as financial advisor and Stoll Keenon Ogden served as legal counsel to Field & Main.
KEY QUOTES
“We are thrilled to welcome Field & Main and its dedicated employees to the Stock Yards team. This combination joins two community banks whose values and cultures are closely aligned and significantly expands our reach in Western Kentucky. Field & Main customers will continue to receive the outstanding service they have come to rely on, with the added benefit of our extended branch presence throughout Louisville, central, eastern, and northern Kentucky, as well as into the Cincinnati and Indianapolis metropolitan markets.”
James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, Stock Yards
“Both banks have always been committed to delivering a modern craft banking experience that includes great customer service, strong community ties and an environment where employees can thrive and grow. We’re excited to partner with the Stock Yards team to build the premier community bank in the region.”
Scott P. Davis, Chairman and CEO, Field & Main
