Wilson Bank Holding Co. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Wilson Bank Holding Co. has submitted its annual 10-K filing for 2023, detailing financial performance and portfolio segments.</b>

AI Summary

WILSON BANK HOLDING CO (WBHC) filed a Annual Report (10-K) with the SEC on February 28, 2024. Wilson Bank Holding Co. filed its 10-K report for the fiscal year ending December 31, 2023. The filing includes data related to various loan portfolio segments, including Commercial and Multifamily, Construction/Land Development/Farmland, and Residential 1-4 Family. The company utilizes fair value measurements for certain assets, with Level 1 and Level 2 inputs noted for Mortgage-Backed Securities. Financial data points such as Retained Earnings and Noncontrolling Interest as of December 31, 2023, are included. The report references specific hedging instruments, including Interest Rate Swaps designated as hedging instruments.

Why It Matters

For investors and stakeholders tracking WILSON BANK HOLDING CO, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Wilson Bank Holding Co.'s financial health and operational activities for the fiscal year 2023, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of loan portfolios and fair value measurements offers insights into the company's risk exposure and asset valuation strategies, important for understanding its market position.

Risk Assessment

Risk Level: medium — WILSON BANK HOLDING CO shows moderate risk based on this filing. The filing is a 10-K, which is a standard annual report, but the absence of specific financial performance metrics like revenue or net income in the provided snippet limits a deeper risk assessment.

Analyst Insight

Investors should review the full 10-K filing to analyze specific financial performance figures, risk factors, and management's discussion and analysis to make informed investment decisions.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-02-28 — Filing Date (Date of submission)
• 0000885275 — Central Index Key (Company identifier)

Key Players & Entities

• WILSON BANK HOLDING CO (company) — Filer name
• 0000885275 (company) — Central Index Key
• 6021 (regulator) — Standard Industrial Classification (National Commercial Banks)
• TN (company) — State of Incorporation
• 6154442265 (company) — Business Phone
• 20231231 (date) — Fiscal Year End
• 20240228 (date) — Filing Date

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-28: Filing Date — Date the 10-K report was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, providing the core financial and operational information for the fiscal year.)

Fair Value Measurements

The process of determining the price at which an asset would be sold or a liability transferred in an orderly transaction between market participants. (Indicates how the company values certain assets, impacting reported financial position and potential gains/losses.)

Interest Rate Swap

A derivative contract whereby two parties exchange interest rate payments, one fixed and one floating, for a specified period. (Used by the company for hedging, indicating strategies to manage interest rate risk.)

Key Financial Figures

• $2.00 — ction 12(g) of the Act: Common Stock, $2.00 par value per share (Title of class)e
• $70.00 — value calculation was determined using $70.00 per share. Shares of common stock, $2
• $48.938 million — reported net earnings of approximately $48.938 million and at December 31, 2023 it had total a
• $4.846 billion — 23 it had total assets of approximately $4.846 billion. Financial and Statistical Informatio
• $15.0 billion — ital for institutions with greater than $15.0 billion in total assets are among the provision
• $250 billion — their holding companies with less than $250 billion in assets a one-time opportunity to opt

Filing Documents

• ck0000885275-20231231.htm (10-K) — 1070KB
• ck0000885275-ex10_84.htm (EX-10.84) — 104KB
• ck0000885275-ex10_85.htm (EX-10.85) — 93KB
• ck0000885275-ex10_86.htm (EX-10.86) — 131KB
• ck0000885275-ex10_87.htm (EX-10.87) — 133KB
• ck0000885275-ex10_88.htm (EX-10.88) — 42KB
• ck0000885275-ex13_1.htm (EX-13.1) — 7738KB
• ck0000885275-ex21_1.htm (EX-21.1) — 2KB
• ck0000885275-ex23_1.htm (EX-23.1) — 9KB
• ck0000885275-ex31_1.htm (EX-31.1) — 12KB
• ck0000885275-ex31_2.htm (EX-31.2) — 12KB
• ck0000885275-ex32_1.htm (EX-32.1) — 8KB
• ck0000885275-ex32_2.htm (EX-32.2) — 7KB
• img35806275_0.jpg (GRAPHIC) — 13KB
• img172044132_0.jpg (GRAPHIC) — 9KB
• img172044132_1.jpg (GRAPHIC) — 9KB
• 0000950170-24-021709.txt (&nbsp;) — 34957KB
• ck0000885275-20231231.xsd (EX-101.SCH) — 2568KB
• ck0000885275-20231231_htm.xml (XML) — 9521KB

Business

Item 1. Business . The disclosures set forth in this item are qualified by Item 1A. Risk Factors and the section captioned "Forward-Looking Statements" appearing elsewhere in this Annual Report on Form 10-K and other cautionary statements set forth elsewhere in this report. General Wilson Bank Holding Company (the "Company") was incorporated on March 17, 1992 under the laws of the State of Tennessee. The purpose of the Company was to acquire all of the issued and outstanding capital stock of Wilson Bank and Trust (the "Bank") and act as a one-bank holding company. On November 17, 1992, the Company acquired 100% of the capital stock of the Bank pursuant to the terms of an agreement and plan of share exchange. The Bank is the only direct subsidiary of the Company. The Bank also holds an ownership interest in Encompass Home Loan Lending, LLC ("Encompass"), a company offering mortgage banking services that is 51% owned by Wilson Bank and 49% owned by two home builders operating in Wilson Bank's market areas. All of the Company's banking business is conducted through the Bank, a state chartered bank organized under the laws of the State of Tennessee. The Bank, on February 23, 2024, had the following full service banking offices located in the following counties: Tennessee County Number of Full Service Banking Offices Davidson 3 DeKalb 2 Putnam 1 Rutherford 5 Smith 2 Sumner 3 Trousdale 1 Williamson 2 Wilson 10 Total 29 The Company's management believes that Wilson County, Trousdale County, Davidson County, Rutherford County, DeKalb County, Smith County, Sumner County, Putnam County and Williamson County offer an environment for continued banking growth in the Company's target market, which consists of local consumers, professionals and small businesses. The Bank offers a wide range of banking services, including checking, savings, and money market deposit accounts, certificates of deposit and loans for consumer, comm

View Full Filing

View this 10-K filing on SEC EDGAR