Stock Yards Bancorp Promotes Shannon Budnick to Executive VP, Director of Wealth Management & Trust Group, Effective January 3, 2024
16 Agosto 2023 - 9:00AM
Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock
Yards Bank & Trust Company, with offices in the Louisville,
central, eastern and northern Kentucky, as well as the
Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets,
today announced that Kathy C. Thompson will retire from her
position as Senior Executive VP, Director of Wealth Management
& Trust Group, effective January 2, 2024. Effective January 3,
2024, Shannon Budnick, currently Senior VP and Managing Director of
Investments, will succeed Ms. Thompson in the position of Executive
VP, Director of Wealth Management & Trust Group.
“Shannon’s appointment is a natural progression
of our succession planning and facilitates a seamless transition as
she has worked alongside Kathy for more than 15 years,” said James
A. (Ja) Hillebrand, Chairman and Chief Executive Officer. “With
more than 25 years of experience in the investments, financial
planning and personal trust businesses, Shannon is the perfect fit
to take on this role. We are confident in her ability to lead the
Stock Yards’ Wealth Management & Trust Group into the future.
She will be an integral part of the executive leadership team at
Stock Yards Bank & Trust.”
Ms. Budnick joined Stock Yards Bank & Trust
in 2007 as a Wealth Advisor. She was named Senior VP in 2013 and
Managing Director of Investments in 2015 and has been a key
contributor to the Wealth Management & Trust’s growth and
success. Prior to joining Stock Yards, Ms. Budnick was an advisor
with Northern Trust and Truist Bank in their Wealth Management
Divisions. Ms. Budnick earned her B.A. in Business in Finance and
Marketing at the College of William and Mary in Williamsburg,
Virginia, where she also played collegiate tennis. She maintains
her Certified Trust & Fiduciary Advisor designation and is a
Certified Financial Planner™ professional. Ms. Budnick resides in
Louisville with her husband and their twins.
“Stock Yards’ Wealth Management and Trust Group
has more than tripled in asset size since I joined the
organization, and it has been very rewarding to work alongside
Kathy and be a part of that growth,” said Ms. Budnick. “I am
looking forward to leading our talented team and being a part of
our future success.”
Ms. Thompson joined Stock Yards in 1992 as
manager of the Investment Management and Trust Department, at which
time had $200 million in assets under management. Under her
leadership, the department has grown to over $7.0 billion in assets
under management and is one of the most profitable independent
wealth management and trust groups in the country. Ms. Thompson has
served as a Director of Stock Yards Bancorp and Stock Yards Bank
& Trust Company since 1994. Prior to joining the Company, Ms.
Thompson practiced estate planning law and worked in a regional
bank’s trust department where she specialized in investment
management and estate and personal financial planning.
“We are extremely grateful for Kathy’s many
contributions to Stock Yards Bank & Trust,” said Hillebrand.
“Her expertise has made a significant contribution to Stock Yards’
position of strength. The board of directors joins me in thanking
Kathy, and we wish her all the best in her well-deserved
retirement.”
“It’s been a privilege to play a key role in
Stock Yards Bank & Trusts’ tremendous growth over the last 31
years, and in further solidifying our strong Wealth Management and
Trust Group,” said Ms. Thompson. “I hired Shannon. We’ve worked
closely together for over 15 years and I have tremendous confidence
that this will be a smooth transition.”
Louisville, Kentucky-based Stock Yards Bancorp,
Inc., with $7.73 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 Stock Market under the symbol
“SYBT.” For more information about Stock Yards Bancorp, visit the
Company’s website at www.syb.com.
Contact:Clay StinnettChief Financial
Officer(502) 625-0890
Stock Yards Bancorp (NASDAQ:SYBT)
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