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Exhibit 99.1
S.Y. Bancorp Completes Current Stock Repurchase Plan;
Initiates New Plan to Continue Stock Buy-Back Initiative
LOUISVILLE, Ky.--(BUSINESS WIRE)--Nov. 21, 2007--S.Y.
Bancorp,
Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank &
Trust
Company, with offices in the Louisville metropolitan area,
Indianapolis and Cincinnati, today announced that it has
completed its
current share repurchase plan, involving the buy-back of
567,500
shares since July 2007, of which 423,624 were repurchased under
the
Company's previously announced Rule 10b5-1 stock trading plan.
The
average cost per share for the just-completed repurchase plan
was
$25.68.
Accordingly, the Company's Board of Directors has authorized a
new
share repurchase plan to replace the one just completed. The new
plan,
authorizing the repurchase of 550,000 shares, or approximately
4% of
the Company's total common shares outstanding, will expire in
November
2008 unless otherwise extended or completed at an earlier date.
The
Company cannot assure the exact number of shares to be
repurchased
prior to the expiration date of the plan.
Commenting on the announcement, David Heintzman, Chairman
and
Chief Executive Officer, said, "We are pleased to announce
the
successful completion of our stock repurchase program and look
forward
to continuing these capital management efforts with the new
plan. The
Company's record of strong earnings growth has enabled us to
build a
sound equity base to support our business development and
expansion
initiatives. Today's action by the Board to initiate a
replacement
plan for the one just completed signifies ou
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