STOCK YARDS BANCORP, INC. (NASDAQ:SYBT) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 Changes in Registrant’s Certifying Accountant.
On June 7, 2018, the Audit Committee of the Board of Directors of Stock Yards Bancorp, Inc. (the “Company”) engaged BKD LLP (BKD) as the Company’s new independent registered public accounting firm for the year ending December 31, 2018 effective immediately.
As reported in the Company’s current report on Form 8-K filed on March 26, 2018, the Company previously advised its former independent registered public accounting firm, KPMG LLP (“KPMG”), that at the direction of the Audit Committee, the Company would be soliciting proposals for the provision of auditing services for the year ending December 31, 2018. KPMG subsequently informed the Company that it would not submit a proposal for future auditing services to the Company. For that reason, KPMG also informed the Company that it declined to stand for reappointment as the Company’s independent registered public accountant. KPMG continued to perform services for the Company as its independent registered public accounting firm in connection with the quarter ended March 31, 2018.
During the years ended December 31, 2017 and 2016, and the subsequent interim period through June 7, 2018, neither the Company nor anyone on its behalf consulted with BKD regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and no written report or oral advice was provided to the Company that BKD concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issues; or (ii) any matter that was either the subject of a “disagreement” or a “reportable event” (within the meaning of Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Regulation S-K, respectively).
About STOCK YARDS BANCORP, INC. (NASDAQ:SYBT)
Stock Yards Bancorp, Inc. is the holding company for Stock Yards Bank & Trust Company (the Bank). The Company operates through two segments: commercial banking, and investment management and trust. Its commercial banking segment provides a range of loan and deposit products to individual consumers and businesses. The commercial banking segment also includes the Company’s mortgage origination and securities brokerage activity. Its investment management and trust segment provides wealth management services, including investment management, trust and estate administration, and retirement plan services. The Bank is a state chartered bank that provides commercial and personal banking services in the Louisville, Kentucky, Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets. The Bank has an investment management and trust department offering a range of investment management, trust, employee benefit plan and estate administration, and financial planning services.
