Stock Yards Bancorp Announces That Clay Stinnett Will Become Chief Financial Officer of the Company as Nancy Davis Sets Retir...
November 21 2018 - 7:05AM
Business Wire
Michael Newton Joins the Company as Senior
Vice President and Principal Accounting Officer
Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of
Stock Yards Bank & Trust Company, with offices in the
Louisville, Indianapolis and Cincinnati metropolitan markets, today
announced that it will promote T. Clay Stinnett (age 45), to the
position of Chief Financial Officer of Stock Yards Bancorp and
Stock Yards Bank & Trust Company, effective May 1, 2019.
His promotion reflects the decision by Nancy B. Davis (age 63),
currently Chief Financial Officer, to retire from the Company on
April 30, 2019.
Commenting on the announcement, James A. (Ja) Hillebrand, Chief
Executive Officer, said, "I am pleased to congratulate Clay on his
advancement in our management team. The upcoming expansion of his
duties and responsibilities clearly reflect his long service and
dedication to Stock Yards Bancorp and his ongoing personal
development, not only in the profession of accounting, but also in
the strategic and day-to-day operations of the Company. We are
pleased to be able to again draw on talent and capabilities within
our organization as we execute our leadership succession plans.
"On behalf of all of us in the Company, I also extend our
deepest appreciation to Nancy for her tireless work over the last
three decades to refine and advance the quality of our financial
operations," Hillebrand continued. "Her accomplishments take on
special significance against the backdrop of an increasingly
complex body of accounting rules and an arduous regulatory
environment."
Stinnett currently serves as Executive Vice President and Chief
Strategic Officer of the Company, focusing on strategic planning
and corporate development, a position he has held since 2011. In
this capacity, he oversees potential expansion, including new
market opportunities and potential acquisitions, and evaluates the
extension of the Company's product offerings. Stinnett also manages
significant operating areas, several of which he will continue to
oversee in addition to his new responsibilities as CFO. A CPA,
Stinnett joined Stock Yards Bank & Trust in 2000 as Vice
President-Finance, responsible for financial reporting, after
working in public accounting with an international firm. He
graduated from Transylvania University in Lexington, Kentucky, with
a bachelor's degree in accounting. Stinnett also serves several
community and professional organizations, including The Housing
Partnership, Inc. as board chair, the Downtown Housing Assistance
Fund as chair of its loan committee, and the Kentucky Society of
CPAs as a committee chair. SYBT Announces that Clay Stinnett Will
Become Chief Financial Officer
Davis joined the Company in 1991, was appointed Chief Financial
Officer in 1993 and was named Executive Vice President in 1999.
Formerly with an international accounting firm, she is a CPA and
holds a bachelor's degree in accountancy from Wake Forest
University. Davis is active in the community with both professional
and non-profit organizations, including Junior Achievement, and she
has served on the board and several committees of the Kentucky
Society of CPAs and has held a committee assignment with American
Society of CPAs.
In commenting on his upcoming promotion, Stinnett said, "I am
excited by this opportunity to expand my role in the Company's
ongoing growth and continued systems development, and I am grateful
for the confidence expressed by the Company's board of directors
and senior leadership team in my experience and capabilities. Most
important, I appreciate the solid foundation of our accounting
department that Nancy has fostered, which leaves us well positioned
to adapt to the rapidly changing world of finance. I look forward
to working closely with Nancy and others in the department over the
next five months to ensure the smooth transition of our financial
management functions."
Davis added, "Stock Yards Bank has been an important part of my
life and career for almost 30 years, so it is with some sadness
that I announce my decision to retire at the end of April 2019. The
Company has afforded me countless opportunities to grow in my
profession, for which I am very grateful. I will cherish the many
memories and friends made here and hope to continue adding to those
by remaining close and connected in the months and years
ahead."
Hillebrand also announced that Michael B. Newton has joined the
Company as Senior Vice President and Principal Accounting Officer.
Newton will oversee a range of areas, including general accounting;
SEC, regulatory and internal management reporting; the Company's
treasury function; and budgeting. Prior to joining Stock Yards
Bancorp, he served 15 years with Louisville-based Republic Bank
& Trust Company, most recently as Vice President and
Controller, where he oversaw accounting-related functions for the
$5.3 billion publicly traded bank. He began his career with an
international accounting firm, where he served as senior
supervising auditor on financial statement audits of various
Kentucky SEC banking engagements. Newton has a bachelor's degree in
accounting from Bellarmine University in Louisville, Kentucky.
Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $3.3
billion in assets, was incorporated in 1988 as a bank holding
company. It is the parent company of Stock Yards Bank & Trust
Company, which was established in 1904. The Company's common shares
trade on the NASDAQ Global Select Market under the symbol SYBT. For
more information about Stock Yards Bancorp, visit the Company's
website at www.syb.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181121005090/en/
Nancy B. DavisExecutive Vice President andChief Financial
Officer(502) 625-9176
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