Business Context and Reporting Period
Company: Stock Yards Bancorp, Inc. (SYBT)
Filing Type: Form 8-K (Current Report)
Date of Report: May 21, 2025
Reporting Period: Event date May 21, 2025; relates to the fiscal year ending December 31, 2025.
Key Financial Metrics
This filing is a current report regarding a corporate governance event and does not contain financial performance data. The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
Change in Certifying Accountant: The Audit Committee notified Forvis Mazars, LLP ("Forvis") on May 21, 2025, that it would not be engaged as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Reason for Change: The decision was part of a strategic request-for-proposal process to evaluate qualifications, independence, and remuneration, consistent with the Audit Committee charter.
- Disagreements: The Company confirmed there were no disagreements with Forvis regarding accounting principles, financial statement disclosures, or auditing scope/procedures.
- Reportable Events: No "reportable events" as defined in Regulation S-K occurred during the fiscal years ended December 31, 2024 and 2023, or the interim period through May 21, 2025.
- Prior Opinions: Forvis reports for 2023 and 2024 were unqualified and did not contain adverse opinions, disclaimers, or modifications.
Guidance, Outlook, and Risks
Outlook: The Company will disclose the engagement of a new independent registered public accounting firm once the evaluation process is completed and in accordance with SEC rules.
Risks/Contingencies: No unusual items or specific risks were disclosed in this filing other than the standard transition of audit services.
Investor Verification Checklist
- Verify the identity of the new independent registered public accounting firm once announced.
- Review the letter from Forvis Mazars, LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the departure.
- Monitor future filings for any impact on the timing of the 2025 annual audit report.