Stock Yards Bancorp Appoints David L. Hardy to Board of Directors

Stock Yards Bancorp has appointed David L. Hardy to its Board of Directors and Stock Yards Bank & Trust. Hardy has decades of leadership experience and a proven track record of growth in the commercial real estate industry. He will join the Board on October 21, 2025. Hardy is currently Managing Director for CBRE's Kentucky operations and has been brokering office properties and advising clients in the Louisville market since 1988.

Stock Yards Bancorp (NASDAQ: SYBT) has announced the appointment of David L. Hardy to its Board of Directors and to Stock Yards Bank & Trust. Hardy, who has been the Managing Director for CBRE's Kentucky operations since 2005, brings extensive commercial real estate expertise and leadership experience to the $9.21 billion-asset banking institution. The appointment is effective October 21, 2025 [1].

Hardy has been active in Louisville's commercial real estate market since 1988, leading CBRE Louisville to significant growth. Under his leadership, CBRE Louisville was recognized as one of Louisville's fastest-growing companies multiple times and made the Fortune 5000 list twice. He currently serves in leadership positions at St. Xavier High School and Louisville Country Club, with previous board experience at various prestigious local organizations [1].

James A. (Ja) Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp, commented, "We are thrilled to announce the appointment of David Hardy to our Board. David’s decades of leadership, deep market expertise, and proven track record of growth make him an exceptional addition to our Board of Directors. His strategic insight and entrepreneurial drive have not only shaped Louisville’s commercial real estate landscape but also reflect the kind of forward-thinking leadership we value at the board level" [1].

In addition to his appointment, Stock Yards Bancorp has announced a 3.2% hike in its quarterly dividend to 32 cents per share, effective October 1, 2025. This marks the 18th consecutive dividend increase since 2011, representing a total increase of 167% over the period. The company's current dividend yield is 1.61%, compared to the industry average of 2.41% [2].

Stock Yards Bancorp's share buyback program has also been extended, with the board approving a new share repurchase program of up to 1 million shares for the next two years. The company's liquidity position is strong, with $451 million in cash and cash equivalents as of June 30, 2025, and a total debt of $460 million [2].

Over the past year, shares of Stock Yards have rallied 34.8% compared to the industry's growth of 6.2%, and the company currently carries a Zacks Rank #2 (Buy) [2].

References:
[1] https://www.stocktitan.net/news/SYBT/stock-yards-bancorp-names-david-l-hardy-to-the-boards-of-directors-7kala6n4eef7.html
[2] https://www.nasdaq.com/articles/stock-yards-reward-shareholders-32-dividend-hike-shares