S.Y. Bancorp redeemed all $30 million 10% trust preferreds on Dec. 31

By Angela McDaniels

Tacoma, Wash., Jan. 2 - S.Y. Bancorp, Inc. redeemed all of the 10% fixed-rate cumulative trust preferred securities due 2038 issued by S.Y. Bancorp Capital Trust II, according to an 8-K filing with the Securities and Exchange Commission.

The $30 million of trust preferreds were redeemed on Dec. 31 at the liquidation amount of $10 each plus accrued distributions.

The redemption was funded with cash on hand.

Louisville, Ky.-based S.Y. Bancorp is the bank holding company for Stock Yards Bank & Trust Co., which provides commercial and personal banking services.

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