Succession plan outlined at Kentucky bank
Stock Yards Bancorp in Louisville, Ky., has promoted an insider to become its next CEO.
James Hillebrand, who currently serves as president, will take over that role on Oct. 1 when the current CEO, David Heintzman, retires, the $3.3 billion-asset Stock Yards said Tuesday. Heintzman, 59, will continue to serve as chairman.
Hillebrand, 49, joined Stock Yards in 1996 to develop its private banking group. He also oversaw the company’s expansion into the Indianapolis and Cincinnati markets and supervised the retail brokerage division.
Philip Poindexter, 52, will become president of the company and its Stock Yards Bank & Trust unit. Poindexter joined in 2004 as director of commercial lending and is currently the chief lending officer.
“We are fortunate as a company to be able to attract superior talent, like [Hillebrand] and [Poindexter], to our outstanding management team and have a strong succession plan to facilitate a smooth leadership transition,” Heintzman said in a press release.
Heintzman joined the company in 1985 and was chief financial officer before becoming president. He has been chairman and CEO since 2005. During his tenure, the company’s assets have more than doubled.
“We appreciate David's long and exemplary service to the company,” Charles Edinger III, lead independent director, said in the press release. “He leaves an indelible imprint on Stock Yards Bank & Trust for its dynamic and organic growth, guided by his keen eye for minimizing the risks associated with expansion.”