David Hardy appointed to Stock Yards Bancorp board of directors

LOUISVILLE, Ky. - Stock Yards Bancorp, Inc. (NASDAQ:SYBT) announced Friday that David L. Hardy will join the boards of directors for both the company and Stock Yards Bank & Trust Company effective October 21, 2025.

Hardy, who has served as Managing Director for CBRE’s Kentucky operations since 2005, brings extensive commercial real estate experience to the position. He has worked in the Louisville market since 1988, specializing in office properties and client advisory services.

James A. Hillebrand, Chairman and Chief Executive Officer of Stock Yards Bancorp, cited Hardy’s "decades of leadership, deep market expertise, and proven track record of growth" in announcing the appointment.

Under Hardy’s leadership, CBRE Louisville was recognized as one of Louisville’s fastest-growing companies multiple times and twice made the Fortune 5000 list of fastest-growing private companies. CBRE Louisville, formerly an affiliate, was acquired by CBRE Group in 2014.

Hardy currently serves as Vice Chairman of the Board of Trustees for St. Xavier High School and is a member of the Board of Governors for Louisville Country Club. His previous board experience includes leadership roles with the Leadership Louisville Center, Sacred Heart Schools, and Greater Louisville, Inc.

Stock Yards Bancorp operates with $9.21 billion in assets and provides banking services across Kentucky, Indiana, and Ohio markets.

The announcement was made in a company press release.

In other recent news, Stock Yards Bancorp reported impressive second-quarter results, with a notable 5% increase in pre-provision net revenue. The company’s profitability metrics were strong, showing a return on assets of 1.5% and a return on tangible common equity of 20.4%. In response to these results, Piper Sandler raised its price target for Stock Yards Bancorp to $86.00, maintaining a Neutral rating on the stock. Additionally, the company announced a new stock repurchase program authorized for up to one million shares, or approximately 3.4% of its outstanding shares.

The Board of Directors also approved a quarterly dividend increase to $0.32 per share, payable on October 1, 2025. In another development, Stock Yards Bancorp appointed BDO USA as its new independent auditor for the fiscal year ending December 31, 2025. The decision followed a strategic proposal process to select a suitable accounting firm. Lastly, the company announced the retirement of board member David P. Heintzman, who will step down on July 15, 2025, after 40 years of service.

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