Close

Form 10-Q WILSON BANK HOLDING CO For: Jun 30

August 9, 2022 10:51 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
0000885275 WILSON BANK HOLDING CO false --12-31 Q2 2022 1,025,584 906,135 2.00 2.00 50,000,000 50,000,000 11,358,524 11,358,524 11,201,504 11,201,504 28,612 2,235 0.35 48,172 2,607 10,622 1,000 1,085 1.10 151,105 5,915 26,377 0.60 83,442 8,151 2,008 26,377 2,008 1 5 0 130,594,000 368,718,000 26.14 0 2018 2019 2020 2021 2019 2020 2021 2 The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. As of June 30, 2022 no valuation allowance was recorded on collateral dependent loans. As of December 31, 2021 no valuation allowance was recorded on impaired loans. Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction. 00008852752022-01-012022-06-30 xbrli:shares 00008852752022-08-09 thunderdome:item iso4217:USD 00008852752022-06-30 00008852752021-12-31 iso4217:USDxbrli:shares 00008852752022-04-012022-06-30 00008852752021-04-012021-06-30 00008852752021-01-012021-06-30 0000885275us-gaap:CommonStockMember2022-03-31 0000885275us-gaap:AdditionalPaidInCapitalMember2022-03-31 0000885275us-gaap:RetainedEarningsMember2022-03-31 0000885275us-gaap:NoncontrollingInterestMember2022-03-31 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-31 00008852752022-03-31 0000885275us-gaap:CommonStockMember2022-04-012022-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-30 0000885275us-gaap:RetainedEarningsMember2022-04-012022-06-30 0000885275us-gaap:NoncontrollingInterestMember2022-04-012022-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-30 0000885275us-gaap:CommonStockMember2022-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2022-06-30 0000885275us-gaap:RetainedEarningsMember2022-06-30 0000885275us-gaap:NoncontrollingInterestMember2022-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-30 0000885275us-gaap:CommonStockMember2021-03-31 0000885275us-gaap:AdditionalPaidInCapitalMember2021-03-31 0000885275us-gaap:RetainedEarningsMember2021-03-31 0000885275us-gaap:NoncontrollingInterestMember2021-03-31 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-31 00008852752021-03-31 0000885275us-gaap:CommonStockMember2021-04-012021-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-30 0000885275us-gaap:RetainedEarningsMember2021-04-012021-06-30 0000885275us-gaap:NoncontrollingInterestMember2021-04-012021-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-30 0000885275us-gaap:CommonStockMember2021-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2021-06-30 0000885275us-gaap:RetainedEarningsMember2021-06-30 0000885275us-gaap:NoncontrollingInterestMember2021-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-30 00008852752021-06-30 0000885275us-gaap:CommonStockMember2021-12-31 0000885275us-gaap:AdditionalPaidInCapitalMember2021-12-31 0000885275us-gaap:RetainedEarningsMember2021-12-31 0000885275us-gaap:NoncontrollingInterestMember2021-12-31 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0000885275us-gaap:CommonStockMember2022-01-012022-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2022-01-012022-06-30 0000885275us-gaap:RetainedEarningsMember2022-01-012022-06-30 0000885275us-gaap:NoncontrollingInterestMember2022-01-012022-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-30 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommonStockMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:NoncontrollingInterestMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2021-12-31 0000885275us-gaap:CommonStockMember2020-12-31 0000885275us-gaap:AdditionalPaidInCapitalMember2020-12-31 0000885275us-gaap:RetainedEarningsMember2020-12-31 0000885275us-gaap:NoncontrollingInterestMember2020-12-31 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-31 00008852752020-12-31 0000885275us-gaap:CommonStockMember2021-01-012021-06-30 0000885275us-gaap:AdditionalPaidInCapitalMember2021-01-012021-06-30 0000885275us-gaap:RetainedEarningsMember2021-01-012021-06-30 0000885275us-gaap:NoncontrollingInterestMember2021-01-012021-06-30 0000885275us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-30 xbrli:pure 0000885275wbhc:EncompassHomeLendingLlcMember2022-06-01 0000885275us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-01-01 0000885275us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-01-012022-01-01 0000885275us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnfundedLoanCommitmentMember2022-01-01 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2021-12-31 utr:Y 0000885275wbhc:RealEstatePortfolioSegmentMembersrt:MinimumMember2022-01-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMembersrt:MaximumMember2022-01-012022-06-30 0000885275us-gaap:CommercialPortfolioSegmentMemberwbhc:SBACARESActPaycheckProtectionProgramMember2022-06-30 0000885275us-gaap:CommercialPortfolioSegmentMemberwbhc:SBACARESActPaycheckProtectionProgramMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMembersrt:MinimumMember2022-01-012022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMembersrt:MaximumMember2022-01-012022-06-30 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberwbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberwbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-12-31 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-01-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-01-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-01-012022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-01-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-01-012022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2020-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2020-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2020-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2020-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2020-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMember2020-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-01-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-01-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-01-012021-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-01-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-01-012021-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-03-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-03-31 0000885275us-gaap:ConsumerPortfolioSegmentMember2022-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-04-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-04-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-04-012022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-04-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-04-012022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2022-04-012022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-03-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-03-31 0000885275us-gaap:ConsumerPortfolioSegmentMember2021-03-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2021-04-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2021-04-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2021-04-012021-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMember2021-04-012021-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2021-04-012021-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMember2021-04-012021-06-30 0000885275us-gaap:RealEstateMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-06-30 0000885275wbhc:OtherCollateralMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMember2022-06-30 0000885275us-gaap:RealEstateMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-06-30 0000885275wbhc:OtherCollateralMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMember2022-06-30 0000885275us-gaap:RealEstateMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-06-30 0000885275wbhc:OtherCollateralMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberwbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMember2022-06-30 0000885275us-gaap:RealEstateMemberwbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-06-30 0000885275wbhc:OtherCollateralMemberwbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberwbhc:CommercialIndustrialAndAgriculturalPortfolioMember2022-06-30 0000885275us-gaap:RealEstateMemberwbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-06-30 0000885275wbhc:OtherCollateralMemberwbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberwbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMember2022-06-30 0000885275us-gaap:RealEstateMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-30 0000885275wbhc:OtherCollateralMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-30 0000885275us-gaap:CollateralPledgedMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-30 0000885275us-gaap:RealEstateMember2022-06-30 0000885275wbhc:OtherCollateralMember2022-06-30 0000885275us-gaap:CollateralPledgedMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275us-gaap:FinancingReceivables30To59DaysPastDueMember2022-06-30 0000885275us-gaap:FinancingReceivables60To89DaysPastDueMember2022-06-30 0000885275us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2022-06-30 0000885275us-gaap:FinancialAssetPastDueMember2022-06-30 0000885275us-gaap:FinancialAssetNotPastDueMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275us-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-31 0000885275us-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-31 0000885275us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-12-31 0000885275us-gaap:FinancialAssetPastDueMember2021-12-31 0000885275us-gaap:FinancialAssetNotPastDueMember2021-12-31 0000885275us-gaap:PerformingFinancingReceivableMember2022-06-30 0000885275us-gaap:PerformingFinancingReceivableMember2021-12-31 0000885275us-gaap:NonperformingFinancingReceivableMember2022-06-30 0000885275us-gaap:NonperformingFinancingReceivableMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:PassMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:SpecialMentionMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:SubstandardMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:PassMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:SpecialMentionMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:SubstandardMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:PassMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:SpecialMentionMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:SubstandardMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:PassMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:SpecialMentionMember2022-06-30 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:SubstandardMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:PassMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:SpecialMentionMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:SubstandardMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2022-06-30 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2022-06-30 0000885275us-gaap:PassMember2022-06-30 0000885275us-gaap:SpecialMentionMember2022-06-30 0000885275us-gaap:SubstandardMember2022-06-30 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:PassMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:PassMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:PassMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:PassMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:PassMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2021-12-31 0000885275us-gaap:PassMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:SpecialMentionMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:SpecialMentionMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:SpecialMentionMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:SpecialMentionMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:SpecialMentionMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2021-12-31 0000885275us-gaap:SpecialMentionMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:Residential1To4FamilyMemberus-gaap:SubstandardMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:CommercialAndMultifamilyMemberus-gaap:SubstandardMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberwbhc:ConstructionLandDevelopmentAndFarmlandMemberus-gaap:SubstandardMember2021-12-31 0000885275wbhc:CommercialIndustrialAndAgriculturalPortfolioMemberus-gaap:SubstandardMember2021-12-31 0000885275wbhc:RealEstatePortfolioSegmentMemberus-gaap:HomeEquityLoanMemberus-gaap:SubstandardMember2021-12-31 0000885275us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2021-12-31 0000885275us-gaap:SubstandardMember2021-12-31 0000885275wbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2022-06-30 0000885275us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-30 0000885275us-gaap:MortgageBackedSecuritiesMember2022-06-30 0000885275us-gaap:AssetBackedSecuritiesMember2022-06-30 0000885275us-gaap:CorporateDebtSecuritiesMember2022-06-30 0000885275us-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-30 0000885275wbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2021-12-31 0000885275us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-31 0000885275us-gaap:MortgageBackedSecuritiesMember2021-12-31 0000885275us-gaap:AssetBackedSecuritiesMember2021-12-31 0000885275us-gaap:CorporateDebtSecuritiesMember2021-12-31 0000885275us-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-31 0000885275us-gaap:CollateralizedMortgageObligationsMember2022-06-30 0000885275us-gaap:CollateralizedMortgageObligationsMember2021-12-31 0000885275us-gaap:AssetPledgedAsCollateralMemberwbhc:PublicDepositsAndOtherRequiredPurposesMember2022-06-30 0000885275us-gaap:AssetPledgedAsCollateralMemberwbhc:PublicDepositsAndOtherRequiredPurposesMember2021-12-31 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-06-30 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-06-30 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LondonInterbankOfferedRateLiborSwapRateMember2022-06-30 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-06-30 0000885275us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-06-30 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-31 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LondonInterbankOfferedRateLiborSwapRateMember2021-12-31 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-12-31 0000885275us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-12-31 0000885275us-gaap:InterestRateSwapMember2022-01-012022-06-30 0000885275us-gaap:InterestRateSwapMember2021-01-012021-06-30 0000885275us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-06-30 0000885275us-gaap:InterestRateLockCommitmentsMember2022-06-30 0000885275us-gaap:InterestRateLockCommitmentsMember2021-12-31 0000885275us-gaap:ForwardContractsMember2022-06-30 0000885275us-gaap:ForwardContractsMember2021-12-31 0000885275us-gaap:InterestRateContractMember2022-01-012022-06-30 0000885275us-gaap:InterestRateContractMember2021-01-012021-06-30 0000885275us-gaap:ForwardContractsMember2022-01-012022-06-30 0000885275us-gaap:ForwardContractsMember2021-01-012021-06-30 0000885275us-gaap:InterestRateContractMember2022-06-30 0000885275us-gaap:InterestRateContractMember2021-12-31 0000885275wbhc:The2009StockOptionPlanMember2009-04-30 0000885275wbhc:The2009StockOptionPlanMember2019-04-13 0000885275wbhc:The2009StockOptionPlanMember2022-06-30 0000885275wbhc:The2016EquityIncentivePlanMember2016-06-30 0000885275wbhc:The2016EquityIncentivePlanMember2022-06-30 0000885275us-gaap:StockAppreciationRightsSARSMemberwbhc:The2016EquityIncentivePlanMember2022-06-30 0000885275us-gaap:StockAppreciationRightsSARSMember2022-06-30 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2021-12-31 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2020-12-31 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2022-01-012022-06-30 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2021-01-012021-06-30 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2022-06-30 0000885275wbhc:StockOptionsAndStockAppreciationRightsMember2021-06-30 0000885275wbhc:WilsonBankMember2022-06-30 0000885275wbhc:WilsonBankMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberwbhc:USTreasuryAndOtherUSGovernmentAgenciesDebtSecuritiesMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-12-31 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-06-30 0000885275us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-06-30 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-06-30 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-06-30 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-06-30 0000885275us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-31 0000885275us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0000885275us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0000885275us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0000885275us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0000885275us-gaap:StateAndLocalJurisdictionMemberwbhc:StateOfTennesseeMember2022-01-012022-06-30 0000885275us-gaap:DomesticCountryMemberus-gaap:InternalRevenueServiceIRSMember2022-01-012022-06-30 0000885275us-gaap:StandbyLettersOfCreditMember2022-01-012022-06-30 0000885275us-gaap:CommitmentsToExtendCreditMember2022-06-30 0000885275us-gaap:StandbyLettersOfCreditMember2022-06-30 0000885275srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-31 0000885275us-gaap:InterestRateSwapMember2022-01-012022-06-30 0000885275wbhc:MortgageBankingDerivativesMember2022-01-012022-06-30
 

 

Table of Contents



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 10-Q


 

(Mark One)

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2022

 

or 

 

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                      to                     

 

Commission File Number 0-20402

 


 

WILSON BANK HOLDING COMPANY

(Exact name of registrant as specified in its charter) 

 


 

Tennessee

 

 

62-1497076

(State or other jurisdiction of incorporation or organization)

 

 

(I.R.S. Employer Identification No.)

 

623 West Main Street

Lebanon

TN

37087

(Address of principal executive offices)

 

 

(Zip Code)

 (615) 444-2265

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   ☒    No  ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

 

Non-accelerated filer

☐ 

Smaller reporting company

 

 

Emerging growth company

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  ☒

 

Securities registered pursuant to Section 12(b) of the Exchange Act: None

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Common stock outstanding: 11,458,548 shares at August 9, 2022



 

 

 

 

Part I:

 

FINANCIAL INFORMATION

3

 

 

 

 

Item 1.

 

Financial Statements.

3

 

 

 

 

The unaudited consolidated financial statements of the Company and its subsidiary are as follows:

 

 

 

 

 

 

 

Consolidated Balance Sheets — June 30, 2022 and December 31, 2021.

3

 

 

 

 

 

 

Consolidated Statements of Earnings — For the three and six months ended June 30, 2022 and 2021.

4

 

 

 

 

 

 

Consolidated Statements of Comprehensive Earnings — For the three and six months ended June 30, 2022 and 2021.

5

 

 

 

 

 

 

Consolidated Statements of Changes in Stockholders' Equity — For the three and six months ended June 30, 2022 and 2021.

6

 

 

 

 

 

 

Consolidated Statements of Cash Flows — For the six months ended June 30, 2022 and 2021.

7

 

 

 

 

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

33

 

 

 

 

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk.

47

 

 

 

 

 

 

Disclosures required by Item 3 are incorporated by reference to Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

 

 

 

 

Item 4.

 

Controls and Procedures.

47

 

 

 

 

Part II:

 

OTHER INFORMATION

48

 

 

 

 

Item 1.

 

Legal Proceedings.

48

 

 

 

 

Item 1A.

 

Risk Factors.

48

 

 

 

 

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds.

48

 

 

 

 

Item 3.

 

Defaults Upon Senior Securities.

48

 

 

 

 

Item 4.

 

Mine Safety Disclosures.

48

 

 

 

 

Item 5.

 

Other Information.

48

 

 

 

 

Item 6.

 

Exhibits.

48

 

 

 

 

Signatures

49

   

EX-31.1 SECTION 302 CERTIFICATION OF THE CEO

 

EX-31.2 SECTION 302 CERTIFICATION OF THE CFO

 

EX-32.1 SECTION 906 CERTIFICATION OF THE CEO

 

EX-32.2 SECTION 906 CERTIFICATION OF THE CFO

 

EX-101.INS

 

EX-101.SCH

 

EX-101.CAL

 

EX-101.DEF

 

EX-101.LAB

 

EX-101.PRE

 

EX-104  

 

 

 

 

Part I. Financial Information

 

Item 1. Financial Statements

 

WILSON BANK HOLDING COMPANY

Consolidated Balance Sheets

June 30, 2022 and December 31, 2021

 

  

(Unaudited)

  

(Audited)

 
  June 30, 2022  December 31, 2021 
  

(Dollars in Thousands Except Share Amounts)

 

Assets

        

Loans

 $2,772,240  $2,483,914 

Less: Allowance for credit losses

  (35,238)  (39,632)

Net loans

  2,737,002   2,444,282 

Securities available-for-sale, at market (amortized cost $1,025,584 and $906,135, respectively)

  916,107   897,585 

Loans held for sale

  6,191   11,843 

Interest bearing deposits

  183,353   400,940 

Restricted equity securities

  5,089   5,089 

Federal funds sold

  25,404   27,055 

Total earning assets

  3,873,146   3,786,794 

Cash and due from banks

  27,011   25,423 

Bank premises and equipment, net

  62,054   62,846 

Accrued interest receivable

  9,540   7,641 

Deferred income tax asset

  40,004   12,792 

Bank owned life insurance

  47,275   46,206 

Other assets

  47,306   43,089 

Goodwill

  4,805   4,805 

Total assets

 $4,111,141  $3,989,596 

Liabilities and Stockholders’ Equity

        

Deposits

 $3,710,806  $3,555,071 

Accrued interest payable and other liabilities

  36,886   20,808 

Total liabilities

  3,747,692   3,575,879 

Stockholders’ equity:

        

Common stock, $2.00 par value; authorized 50,000,000 shares, issued and outstanding 11,358,524 and 11,201,504 shares, respectively

  22,717   22,403 

Additional paid-in capital

  114,943   105,177 

Retained earnings

  306,615   292,452 

Noncontrolling interest in consolidated subsidiary

  39    

Accumulated other comprehensive losses, net of taxes of $28,612 and $2,235 respectively

  (80,865)  (6,315)

Total stockholders’ equity

  363,449   413,717 

Total liabilities and stockholders’ equity

 $4,111,141  $3,989,596 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

 

 

WILSON BANK HOLDING COMPANY

Consolidated Statements of Earnings

Three Months and Six Months Ended June 30, 2022 and 2021

(Unaudited)

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2022

  

2021

  

2022

  

2021

 
  

(Dollars in Thousands Except Per Share Amounts)

  

(Dollars in Thousands Except Per Share Amounts)

 

Interest income:

                

Interest and fees on loans

 $32,304  $28,945  $61,908  $57,438 

Interest and dividends on securities:

                

Taxable securities

  3,943   2,103   7,174   3,795 

Exempt from federal income taxes

  355   253   679   576 

Interest on loans held for sale

  14   160   168   260 

Interest on federal funds sold

  59   5   66   5 

Interest on balances held at depository institutions

  396   79   541   187 

Interest and dividends on restricted securities

  26   25   60   51 

Total interest income

  37,097   31,570   70,596   62,312 

Interest expense:

                

Interest on negotiable order of withdrawal accounts

  457   472   922   908 

Interest on money market and savings accounts

  676   565   1,118   1,105 

Interest on time deposits

  1,090   1,994   2,311   4,143 

Interest on Federal Home Loan Bank advances

           133 

Interest on finance leases

  17      33    

Total interest expense

  2,240   3,031   4,384   6,289 

Net interest income before provision for credit losses

  34,857   28,539   66,212   56,023 

Provision for credit losses

  1,625   55   3,517   882 

Net interest income after provision for credit losses

  33,232   28,484   62,695   55,141 

Non-interest income:

                

Service charges on deposit accounts

  1,777   1,411   3,496   2,736 

Brokerage income

  1,690   1,681   3,429   3,079 

Debit and credit card interchange income

  3,734   3,353   6,611   5,882 

Other fees and commissions

  460   316   768   625 

Income on BOLI and annuity contracts

  382   218   717   631 

Gain on sale of loans

  511   2,048   2,725   5,654 

Mortgage servicing income

  23      23    

Gain (loss) on sale of fixed assets

     (23)  28   (23)

Loss on sale of other real estate

     (11)     (11)

Gain on sale of other assets

        8   1 

Other income

  2      (8)   

Total non-interest income

  8,579   8,993   17,797   18,574 

Non-interest expense:

                

Salaries and employee benefits

  14,514   14,022   28,910   27,322 

Occupancy expenses, net

  1,397   1,340   2,745   2,631 

Advertising & public relations expense

  688   607   1,347   1,094 

Furniture and equipment expense

  853   836   1,709   1,662 

Data processing expense

  1,868   1,523   3,625   2,910 

ATM & interchange expense

  1,251   1,214   2,443   2,304 

Directors’ fees

  148   127   301   284 

Audit, legal & consulting expenses

  191   172   418   361 

Provision (benefit) for credit losses on unfunded commitments

  (608)  137   217   137 

Other operating expenses

  3,025   3,050   5,749   5,769 

Total non-interest expense

  23,327   23,028   47,464   44,474 

Earnings before income taxes

  18,484   14,449   33,028   29,241 

Income taxes

  4,343   3,310   7,514   6,958 

Net earnings

 $14,141  $11,139  $25,514  $22,283 

Net earnings attributable to noncontrolling interest

  (2)     (2)   

Net earnings attributable to Wilson Bank Holding Company

 $14,139  $11,139  $25,512  $22,283 

Weighted average number of common shares outstanding-basic

  11,339,057   11,084,411   11,307,763   11,081,894 

Weighted average number of common shares outstanding-diluted

  11,370,255   11,114,894   11,339,264   11,111,708 

Basic earnings per common share

 $1.25  $1.00  $2.26  $2.01 

Diluted earnings per common share

 $1.24  $1.00  $2.25  $2.01 

Dividends per common share

 $0.35  $-  $1.10  $0.60 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

 

WILSON BANK HOLDING COMPANY

Consolidated Statements of Comprehensive Earnings (Losses)

Three Months and Six Months Ended June 30, 2022 and 2021

(Unaudited)

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2022

  

2021

  

2022

  

2021

 
  

(In Thousands)

 

Net earnings

 $14,141  $11,139  $25,514  $22,283 

Other comprehensive earnings (losses):

                

Unrealized gains (losses) on available-for-sale securities

  (40,641)  4,151   (100,927)  (7,681)

Tax effect

  10,622   (1,085)  26,377   2,008 

Other comprehensive earnings (losses):

  (30,019)  3,066   (74,550)  (5,673)

Comprehensive earnings (losses)

 $(15,878) $14,205  $(49,036) $16,610 

Comprehensive earnings (losses) attributable to noncontrolling interest

  (2)     (2)   

Comprehensive earnings (losses) attributable to Wilson Bank Holding Company

 $(15,880) $14,205  $(49,038) $16,610 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

 

WILSON BANK HOLDING COMPANY

Consolidated Statements of Changes in Stockholders’ Equity

Three Months and Six Months Ended June 30, 2022 and 2021

(Unaudited) 

 

  

Dollars In Thousands

 
  

Common Stock

  

Additional Paid-In Capital

  

Retained Earnings

  

Noncontrolling Interest

  

Accumulated Other Comprehensive Earnings (Loss)

  

Total

 

Three months ended:

                        

June 30, 2022

                        

Balance at beginning of period

 $22,615   111,694   296,435      (50,846)  379,898 

Cash dividends declared, $.35 per share

        (3,959)        (3,959)

Issuance of 48,172 shares of common stock pursuant to dividend reinvestment plan

  96   3,006            3,102 

Issuance of 2,607 shares of common stock pursuant to exercise of stock options, net

  6   33            39 

Share based compensation expense

     210            210 

Net change in fair value of available-for-sale securities during the period, net of tax benefit of $10,622

              (30,019)  (30,019)

Noncontrolling interest contribution

           37      37 

Net earnings for the quarter

        14,139   2      14,141 

Balance at end of period

 $22,717   114,943   306,615   39   (80,865)  363,449 
                         

June 30, 2021

                        

Balance at beginning of period

 $22,168   98,150   262,483      (1,574)  381,227 

Issuance of 1,000 shares of common stock pursuant to exercise of stock options, net

  2   43            45 

Share based compensation expense

     128            128 

Net change in fair value of available-for-sale securities during the period, net of taxes of $1,085

              3,066   3,066 

Net earnings for the quarter

        11,139         11,139 

Balance at end of period

 $22,170   98,321   273,622      1,492   395,605 

 

  

Dollars In Thousands

 
  

Common Stock

  

Additional Paid-In Capital

  

Retained Earnings

  

Noncontrolling Interest

  

Accumulated Other Comprehensive Earnings (Loss)

  

Total

 

Six Months Ended:

                        

June 30, 2022

                        

Balance at beginning of period

 $22,403   105,177   292,452      (6,315)  413,717 

Cash dividends declared, $1.10 per share

        (12,360)        (12,360)

Issuance of 151,105 shares of common stock pursuant to dividend reinvestment plan

  302   9,311            9,613 

Issuance of 5,915 shares of common stock pursuant to exercise of stock options, net

  12   84            96 

Share based compensation expense

     371            371 

Net change in fair value of available-for-sale securities during the period, net of tax benefit of $26,377

              (74,550)  (74,550)

Cumulative effect of change in accounting principle from the adoption of ASC 326

        1,011         1,011 

Noncontrolling interest contribution

           37      37 

Net earnings for the period

        25,512   2      25,514 

Balance at end of period

 $22,717   114,943   306,615   39   (80,865)  363,449 
                         

June 30, 2021

                        

Balance at beginning of period

 $21,987   93,034   257,935      7,165   380,121 

Cash dividends declared, $.60 per share

        (6,596)        (6,596)

Issuance of 83,442 shares of common stock pursuant to dividend reinvestment plan

  167   4,735            4,902 

Issuance of 8,151 shares of common stock pursuant to exercise of stock options, net

  16   305            321 

Share based compensation expense

     247            247 

Net change in fair value of available-for-sale securities during the period, net of tax benefit of $2,008

              (5,673)  (5,673)

Net earnings for the quarter

        22,283         22,283 

Balance at end of period

 $22,170   98,321   273,622      1,492   395,605 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

 

WILSON BANK HOLDING COMPANY

Consolidated Statements of Cash Flows

Six Months Ended June 30, 2022 and 2021

Increase (Decrease) in Cash and Cash Equivalents

(Unaudited) 

 

  

Six Months Ended June 30,

 
  

2022

  

2021

 
  

(In Thousands)

 

OPERATING ACTIVITIES

        

Net earnings

 $25,514  $22,283 

Adjustments to reconcile consolidated net income to net cash provided (used) by operating activities

        

Provision for credit losses

  3,517   882 

Deferred income taxes benefit

  (1,193)  (735)

Depreciation and amortization of premises and equipment

  2,237   2,107 

Loss (gain) on disposal of premises and equipment

  (28)  23 

Net amortization of securities

  2,321   2,684 

Gains on mortgage loans sold, net

  (2,725)  (5,654)

Share-based compensation expense

  844   704 

Loss on other real estate

     11 

Gain on sale of repossessed assets

  (8)  (1)

Increase in value of life insurance and annuity contracts

  (717)  (452)

Mortgage loans originated for resale

  (79,099)  (128,810)

Proceeds from sale of mortgage loans

  87,476   136,696 

Right of use asset amortization

  193   194 

Change in

        

Accrued interest receivable

  (1,899)  (341)

Other assets

  585   (19)

Accrued interest payable

  (294)  (984)

Other liabilities

  3,158   3,264 

TOTAL ADJUSTMENTS

  14,368   9,569 

NET CASH PROVIDED BY OPERATING ACTIVITIES

  39,882   31,852 

INVESTING ACTIVITIES

        

Activities in available for sale securities

        

Purchases

  (172,814)  (255,398)

Maturities, prepayments and calls

  51,044   73,608 

Net increase in loans

  (291,041)  (76,097)

Purchase of buildings, leasehold improvements, and equipment

  (1,400)  (1,660)

Proceeds from sale of premises and equipment

  28    

Proceeds from sale of other assets

     69 

Proceeds from sale of other real estate

     149 

Purchase of life insurance and annuity contracts

  (709)   

NET CASH USED IN INVESTING ACTIVITIES

  (414,892)  (259,329)

FINANCING ACTIVITIES

        

Net change in deposits - non-maturing

  178,776   270,819 

Net change in deposits - time

  (23,041)  (950)

Net change in Federal Home Loan Bank Advances

     (3,638)

Change in escrow balances

  4,252   (2,913)

Repayment of finance lease obligation

  (13)   

Net increase in noncontrolling interest contributions

  37    

Issuance of common stock related to exercise of stock options

  96   321 

Issuance of common stock pursuant to dividend reinvestment plan

  9,613   4,902 

Cash dividends paid on common stock

  (12,360)  (6,596)

NET CASH PROVIDED BY FINANCING ACTIVITIES

  157,360   261,945 

NET CHANGE IN CASH AND CASH EQUIVALENTS

  (217,650)  34,468 

CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD

  453,418   338,856 

CASH AND CASH EQUIVALENTS - END OF PERIOD

 $235,768  $373,324 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

WILSON BANK HOLDING COMPANY

Consolidated Statements of Cash Flows, Continued

Six Months Ended June 30, 2022 and 2021

Increase (Decrease) in Cash and Cash Equivalents

(Unaudited) 

 

  

Six Months Ended June 30,

 
  

2022

  

2021

 
  

(In Thousands)

 

Supplemental disclosure of cash flow information:

        

Cash paid during the period for

        

Interest

 $4,678  $6,797 

Taxes

 $9,326  $8,660 

Non-cash investing and financing activities:

        

Change in fair value of securities available-for-sale, net of tax benefit of $26,377 and $2,008 for the six months ended June 30, 2022 and 2021, respectively

 $(74,550) $(5,673)

Non-cash transfers from loans to other real estate

 $  $182 

Non-cash transfers from loans to other assets

 $  $68 

 

See accompanying notes to consolidated financial statements (unaudited)

 

 

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements

(Unaudited)

 

Note 1. Summary of Significant Accounting Policies

 

Nature of Business — Wilson Bank Holding Company (the “Company”) is a bank holding company whose primary business is conducted by its wholly-owned subsidiary, Wilson Bank & Trust (the “Bank”). The Bank is a commercial bank headquartered in Lebanon, Tennessee. The Bank provides a full range of banking services in its primary market areas of Wilson, Davidson, Rutherford, Trousdale, Sumner, Dekalb, Putnam, Smith, and Williamson Counties, Tennessee. On June 1, 2022, the Bank began operations with a newly-formed joint venture, Encompass Home Lending, LLC ("Encompass") of which the Bank owns 51% of the outstanding membership interests. Encompass offers residential mortgage banking services to customers of certain home builders in our markets.

 

Basis of Presentation — The accompanying unaudited, consolidated financial statements have been prepared in accordance with instructions to Form 10-Q and therefore do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles. All adjustments consisting of normally recurring accruals that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods covered by the report have been included. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company’s consolidated audited financial statements and related notes appearing in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.

 

These consolidated financial statements include the accounts of the Company, the Bank, and Encompass. Significant intercompany transactions and accounts are eliminated in consolidation.

 

Use of Estimates — The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses, the valuation of deferred tax assets, determination of any impairment of goodwill or other intangibles, the valuation of other real estate (if any), and the fair value of financial instruments. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. There have been no significant changes to the Company’s significant accounting policies as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 other than the adoption of ASC 326 as described in Note 1. Summary of Significant Accounting Policies - Accounting Changes, Reclassifications and Restatements and in Note 2 - Loans and Allowance for Credit Losses.

 

Accounting Changes, Reclassifications and Restatements Certain items in prior financial statements have been reclassified to conform to the current presentation. In addition, on January 1, 2022, we adopted Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as subsequently updated for certain clarifications, targeted relief and codification improvements. Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”) replaces the previous “incurred loss” model for measuring credit losses, which encompassed allowances for current known and inherent losses within the portfolio, with an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. The new current expected credit loss (“CECL”) model requires the measurement of all expected credit losses for financial assets measured at amortized cost and certain off-balance-sheet credit exposures based on historical experience, current conditions, and reasonable and supportable forecasts. ASC 326 also requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASC 326 includes certain changes to the accounting for available-for-sale securities including the requirement to present credit losses as an allowance rather than as a direct write-down for available-for-sale securities management does not intend to sell or believes that it is more likely than not they will be required to sell.

 

We adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Upon adoption, we recognized an after-tax cumulative effect increase to retained earnings totaling $1.0 million.  Operating results for periods after January 1, 2022 are presented in accordance with ASC 326 while prior period amounts continue to be reported in accordance with previously applicable standards and the accounting policies described in our 2021 Form 10-K.

 

In connection with the adoption of ASC 326, we revised certain accounting policies and implemented certain accounting policy elections. The revised accounting policies are described below.

 

Allowance For Credit Losses - Loans — The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, that is deducted from the amortized cost basis of loans to present management's best estimate of the net amount expected to be collected. Loans are charged-off against the allowance when deemed uncollectible by management. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Adjustments to the allowance are reported in our income statement as a component of credit loss expense. Management has made the accounting policy election to exclude accrued interest receivable on loans from the estimate of credit losses. Further information regarding our policies and methodology used to estimate the allowance for credit losses on loans is presented in Note 2 - Loans and Allowance for Credit Losses.

 

Allowance For Credit Losses - Off-Balance-Sheet Credit Exposures — The allowance for credit losses on off-balance-sheet credit exposures is a liability account, calculated in accordance with ASC 326, representing expected credit losses over the contractual period for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. The allowance is reported as a component of accrued interest payable and other liabilities in our consolidated balance sheets. Adjustments to the allowance are reported in our income statement as a component of non-interest expense. Further information regarding our policies and methodology used to estimate the allowance for credit losses on off-balance-sheet credit exposures is presented in Note 11 - Commitments and Contingent Liabilities.

 

Securities Securities are classified as held to maturity and carried at amortized cost when management has the positive intent and ability to hold them until maturity. Securities to be held for indefinite periods of time are classified as available for sale and carried at fair value, with the unrealized holding gains and losses (those for which no allowance for credit losses are recorded) reported as a component of other comprehensive earnings, net of tax. Securities held for resale in anticipation of short-term market movements are classified as trading and are carried at fair value, with changes in unrealized holding gains and losses included in income. Management determines the appropriate classification of securities at the time of purchase. Securities with limited marketability, such as stock in the Federal Reserve Bank and the Federal Home Loan Bank, are carried at cost.

 

9

 

Interest income on securities includes amortization of purchase premiums and discounts. Premiums and discounts on securities are generally amortized using the interest method with a constant effective yield without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Premiums on callable securities are amortized to their earliest call date. A security is placed on non-accrual status if (i) principal or interest has been in default for a period of 90 days or more or (ii) full payment of principal and interest is not expected. Interest accrued but not received for a security placed on non-accrual status is reversed against interest income. Gains and losses on sales are recorded on the trade date and are derived from the amortized cost of the security sold.

 

Allowance for Credit Losses - Securities Available-for-Sale — For any securities classified as available-for-sale that are in an unrealized loss position at the balance sheet date, the Company assesses whether or not it intends to sell the security, or more likely than not will be required to sell the security, before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is written down to fair value through net income. If neither criteria is met, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. If the evaluation indicates that a credit loss exists, an allowance for credit losses is recorded for the amount by which the amortized cost basis of the security exceeds the present value of cash flows expected to be collected, limited by the amount by which the amortized cost exceeds fair value. Any impairment not recognized in the allowance for credit losses is recognized in other comprehensive income.

 

Recently Issued Accounting Pronouncements    

 

Information about certain recently issued accounting standards updates is presented below. Also refer to Note 1 - Accounting Standards Updates in our 2021 Form 10-K for additional information related to previously issued accounting standards updates.

 

ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As noted above, effective  January 1, 2022 the Company adopted ASU 2016-13, which resulted in a $7.6 million decrease to the allowance for credit losses and a $6.2 million increase to the reserve for unfunded commitments, resulting in a $1.0 million increase in retained earnings (net of taxes). See Note 2 – Loans and Allowance for Credit Losses for additional information.

 

ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.” ASU 2022-01 was issued to expand the scope of assets eligible for portfolio layer method hedging to include all financial assets. The update also expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. The last-of-layer method is renamed the portfolio layer method, because more than the last layer of a portfolio could be hedged.  The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after  December 15, 2022.  The adoption of ASU 2022-01 is not expected to have a significant impact on our financial statements.

 

ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 was issued to respond to feedback received from post-implementation review of Topic 326. The amendments eliminate the troubled debt restructuring (TDR) recognition and measurement guidance and now require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20.  The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after  December 15, 2022.   The adoption of ASU 2022-02 is not expected to have a significant impact on our financial statements.

 

Other than those previously discussed, there were no other recently issued accounting pronouncements that are expected to materially impact the Company.

 

 

Note 2. Loans and Allowance for Credit Losses

 

Loans — Loans are reported at their outstanding principal balances less unearned income, the allowance for credit losses and any deferred fees or costs on originated loans. Interest income on loans is accrued based on the principal balance outstanding. Loan origination fees, net of certain loan origination costs, are deferred and recognized as an adjustment to the related loan yield using a method which approximates the interest method.

 

For financial reporting purposes, the Company classifies its loan portfolio based on the underlying collateral utilized to secure each loan. This classification is consistent with that utilized in the Quarterly Report of Condition and Income filed by the Bank with the Federal Deposit Insurance Corporation (“FDIC”).

 

The following schedule details the loans of the Company at June 30, 2022 and December 31, 2021:

 

  

(In Thousands)

 
  June 30, 2022  December 31, 2021 
         

Residential 1-4 family real estate

 $741,595  $689,579 

Commercial and multi-family real estate

  930,093   908,673 

Construction, land development and farmland

  793,775   612,659 

Commercial, industrial and agricultural

  119,186   118,155 

1-4 family equity lines of credit

  121,102   92,229 

Consumer and other

  79,795   74,643 

Total loans before net deferred loan fees

  2,785,546   2,495,938 

Net deferred loan fees

  (13,306)  (12,024)

Total loans

  2,772,240   2,483,914 

Less: Allowance for credit losses

  (35,238)  (39,632)

Net loans

 $2,737,002  $2,444,282 

 

Risk characteristics relevant to each portfolio segment are as follows:

 

Construction, land development and farmland: Loans for non-owner-occupied real estate construction or land development are generally repaid through cash flow related to the operation, sale or refinance of the property. The Company also finances construction loans for owner-occupied properties. A portion of the Company’s construction and land portfolio segment is comprised of loans secured by residential product types (residential land and single-family construction). With respect to construction loans to developers and builders that are secured by non-owner occupied properties that the Company may originate from time to time, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, market sales activity, and financial analysis of the developers and property owners. Construction loans are generally based upon estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayments substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing.

 

Residential 1-4 family real estate: Residential real estate loans represent loans to consumers or investors to finance a residence. These loans are typically financed on 15 to 30 year amortization terms, but generally with shorter maturities of 5 to 15 years. Many of these loans are extended to borrowers to finance their primary or secondary residence. Loans to an investor secured by a 1-4 family residence will be repaid from either the rental income from the property or from the sale of the property. This loan segment also includes closed-end home equity loans that are secured by a first or second mortgage on the borrower’s residence. This allows customers to borrow against the equity in their home. Loans in this portfolio segment are underwritten and approved based on a number of credit quality criteria including limits on maximum Loan-to-Value ("LTV"), minimum credit scores, and maximum debt to income. Real estate market values as of the time the loan is made directly affect the amount of credit extended and, in addition, changes in these residential property values impact the depth of potential losses in this portfolio segment.

 

1-4 family equity lines of credit: This loan segment includes open-end home equity loans that are secured by a first or second mortgage on the borrower’s residence. This allows customers to borrow against the equity in their home utilizing a revolving line of credit. These loans are underwritten and approved based on a number of credit quality criteria including limits on maximum LTV ratios, minimum credit scores, and maximum debt to income ratios. Real estate market values as of the time the loan is made directly affect the amount of credit extended and, in addition, changes in these residential property values impact the depth of potential losses in this portfolio segment. Because of the revolving nature of these loans, as well as the fact that many represent second mortgages, this portfolio segment can contain more risk than the amortizing 1-4 family residential real estate loans.

 

Commercial and multi-family real estate: Multi-family and commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate.

 

Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single market or industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. The Company also utilizes third-party experts to provide insight and guidance about economic conditions and trends affecting the market areas it serves. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. Non-owner occupied commercial real estate loans are loans secured by multifamily and commercial properties where the primary source of repayment is derived from rental income associated with the property (that is, loans for which 50 percent or more of the source of repayment comes from third party, nonaffiliated, rental income) or the proceeds of the sale, refinancing, or permanent financing of the property. These loans are made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail properties. Owner-occupied commercial real estate loans are loans where the primary source of repayment is the cash flow from the ongoing operations and business activities conducted by the party, or affiliate of the party, who owns the property.

 

11

 

Commercial, industrial, and agricultural: The commercial and industrial loan portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Also included in this category are PPP loans guaranteed by the SBA, which totaled $342,000 at  June 30, 2022 and $5.0 million at December 31, 2021. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower, if any. The cash flows of borrowers, however, may not be as expected and any collateral securing these loans may fluctuate in value. Most commercial and industrial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and usually incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

 

Consumer: The consumer loan portfolio segment includes non-real estate secured direct loans to consumers for household, family, and other personal expenditures. Consumer loans may be secured or unsecured and are usually structured with short or medium term maturities. These loans are underwritten and approved based on a number of consumer credit quality criteria including limits on maximum LTV ratios on secured consumer loans, minimum credit scores, and maximum debt to income ratios. Many traditional forms of consumer installment credit have standard monthly payments and fixed repayment schedules of one to five years. These loans are made with either fixed or variable interest rates that are based on specific indices. Installment loans fill a variety of needs, such as financing the purchase of an automobile, a boat, a recreational vehicle or other large personal items, or for consolidating debt. These loans may be unsecured or secured by an assignment of title, as in an automobile loan, or by money in a bank account. In addition to consumer installment loans, this portfolio segment also includes secured and unsecured personal lines of credit as well as overdraft protection lines. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures.

 

Allowance For Credit Losses ("ACL") - Loans. The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from inter