Stock Yards Bancorp, Inc. 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. 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.

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.