Good question Craig,
As you well know, it is extremely common to see sycamore, silver maple, hackberry, etc. growing adjacent to streams and ponds. However, any intentional disturbance that alters soil hydrology in the general vicinity of a tree runs the risks of affecting the tree's overall health and vigor.
Cutting, trenching, excavating, compacting the soil, and adding soil around existing trees is going to have a either a direct or indirect impact. This is a given! The degree of impact, however, is uncertain. Assuming the tree was healthy to begin with, my guess is you will see some general decline within 2-5 years, most noticeably in the crown. Decline could very well set-in sooner, you just never know!
Remember, excavating and running heavy equipment often causes root damage and soil compaction. Adding additional soil on top of the root zone further compounds the problem by limiting oxygen necessary for root respiration.
Yes, your tree will probably surviveā¦at least in the short term. Beyond that, I do not know.
Jay