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KTYB - Stock Yards Bancorp acquires Kentucky Bancshares for ~$190M
Kentucky Bancshares Inc.
Stock Yards Bancorp (SYBT) has acquired Kentucky Bancshares (KTYB) in a combined 85% stock and 15% cash deal, which is expected to close during 2Q21. As per the merger agreement, Kentucky Bancshares’ shareholders will have the right to receive 0.64 shares of Stock Yards Bancorp’s common stock and $4.75 in cash for each share.First full year earnings (2022) per share accretion is estimated at ~12.5% and the tangible book value per share dilution is expected to be earned back in ~2.5 years.