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Stock Market & Financial Investment News

News Breaks
December 19, 2012
17:48 EDTSYBTS.Y. Bancorp to acquire The Bancorp for approximately $19.9M
S.Y. Bancorp (SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, Indianapolis and Cincinnati metropolitan markets, announced that it has entered into a definitive agreement to acquire all of the common stock of The Bancorp in a cash-and-stock transaction valued at approximately $19.9M. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, the transaction is valued at $19.9M, which includes $19.5M in consideration to Bancorp shareholders and $0.4M in cash consideration to Bancorp option holders. The $19.5M of consideration will include 534,885 shares of S.Y. Bancorp common stock, subject to adjustment, valued at $11.7M based upon the 20-trading day volume-weighted average price of S.Y. Bancorp common stock as of the close of markets on December 18, and $7.8M in cash, subject to adjustment. The transaction is expected to be accretive to S.Y. Bancorp's tangible book value per share and slightly accretive to earnings per share, excluding restructuring charges. The transaction is expected to close early in the second quarter of 2013
News For SYBT From The Last 14 Days
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January 27, 2016
07:31 EDTSYBTS.Y. Bancorp reports Q4 EPS 64c, consensus 62c
Net interest income increased $1.3 million or 6% to $22.8 million in the fourth quarter of 2015 from $21.5 million in the prior-year quarter. As anticipated, net interest margin -- on a fully tax-equivalent basis -- remained under pressure throughout 2015, reflecting the prevailing low interest rate environment as well as the impact of heightened competition on lending rates. In the fourth quarter of 2015, net interest margin was 3.57% versus 3.66% in the third quarter of 2015 and 3.67% in the fourth quarter of 2014. Approximately six basis points of the decline in net interest margin in the fourth quarter of 2015 versus the linked third quarter was due to excess liquidity caused by the temporary inflow of short-term public funds at the end of the year. While this excess liquidity is maintained in low-yielding short-term investments and consequently results in lower net interest margin, it does add to earnings. The Company expects liquidity to return to normal levels during the first and second quarters of 2016. Management anticipates continued margin pressure due to competition and the low interest rate environment. Since approximately 65% of the Company's loan portfolio is set at fixed rates and 15% is priced at variable rates with floors of 4%, rate increases will not fully benefit the Company until fixed rate loans reprice and the prime rate, currently at 3.5%, rises to exceed the 4% floors on variable rate loans. However, higher interest rates do immediately increase earnings on the Bank's liquidity.

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