S.Y. Bancorp Inc. in Louisville, Ky., is looking to expand in the Indianapolis market.

The $2 billion-asset company has filed an application with state and federal regulators to open its third branch in the area and first new branch there since 2008, Business First in Louisville reported Thursday.

S.Y., the parent of Stock Yards Bank, opened its first branch in Indianapolis in 2004 and at June 30 it had roughly $97 million of deposits in the market, according to Federal Deposit Insurance Corp. data. In all, the company has 30 branches in Kentucky, Indiana and Ohio.

S.Y. said it expects to open the new Indianapolis branch on Feb. 1.

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