Wilson Bank Holding Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Wilson Bank Holding Co. filed its Q1 2024 10-Q, detailing loan portfolio segments, maturity adjustments, and fair value disclosures.</b>

AI Summary

WILSON BANK HOLDING CO (WBHC) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Wilson Bank Holding Co. filed its 10-Q report for the quarter ended March 31, 2024. The filing includes data related to loans receivable, including segments like Residential 1-4 Family, Commercial & Multifamily, and Construction/Land Development. Specific mentions of 'Extended Maturity and Interest Rate Reduction' and 'Contractual Interest Rate Reduction' are present for various loan types. Fair value disclosures, including Level 1 and Level 3 inputs, are provided as of March 31, 2024. The report details financial assets past due within the Consumer Portfolio segment as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking WILSON BANK HOLDING CO, this filing contains several important signals. The 10-Q provides a detailed look into Wilson Bank Holding Co.'s loan portfolio composition and risk management strategies, including specific data on past-due assets and interest rate adjustments. Understanding the specifics of loan segments, maturity extensions, and fair value inputs is crucial for assessing the bank's financial health and potential exposure to interest rate risk.

Risk Assessment

Risk Level: medium — WILSON BANK HOLDING CO shows moderate risk based on this filing. The filing contains specific data points on past-due loans and loan modifications, indicating potential credit risk exposure that warrants careful monitoring.

Analyst Insight

Investors should analyze the trends in past-due loans and the impact of interest rate reduction programs on net interest income.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-09 — Filing Date (10-Q filing)
• 2023-12-31 — Past Due Consumer Portfolio Date (Financial Asset Past Due)
• 2023-03-31 — Comparative Period Date (Loans Receivable)

Key Players & Entities

• WILSON BANK HOLDING CO (company) — FILER
• 0000885275 (company) — CENTRAL INDEX KEY
• 6021 (regulator) — NATIONAL COMMERCIAL BANKS SIC code
• TN (company) — STATE OF INCORPORATION
• 6154442265 (company) — BUSINESS PHONE
• 2024-03-31 (dollar_amount) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (dollar_amount) — FILED AS OF DATE
• 2023-03-31 (dollar_amount) — comparative date for past due loans

FAQ

Risk Factors

• Interest Rate Risk [medium — financial]: The company's financial instruments are subject to fluctuations in interest rates, which could impact its earnings and the fair value of its assets and liabilities.
• Credit Risk [medium — financial]: The company is exposed to credit risk through its lending activities, including potential losses from borrowers who may default on their obligations.
• Economic Conditions [medium — market]: Deterioration in general economic conditions could adversely affect the company's business, financial condition, and results of operations.

Key Dates

• 2024-03-31: Quarterly Period End — Reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially submitted to the SEC.

Filing Documents

• ck0000885275-20240331.htm (10-Q) — 5138KB
• ck0000885275-ex10_1.htm (EX-10.1) — 97KB
• ck0000885275-ex31_1.htm (EX-31.1) — 15KB
• ck0000885275-ex31_2.htm (EX-31.2) — 15KB
• ck0000885275-ex32_1.htm (EX-32.1) — 9KB
• ck0000885275-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-056405.txt (&nbsp;) — 22514KB
• ck0000885275-20240331.xsd (EX-101.SCH) — 1661KB
• ck0000885275-20240331_htm.xml (XML) — 6755KB

Financial Statements

Financial Statements. 3 The unaudited consolidated financial statements of the Company and its subsidiary are as follows: Consolidated Balance Sheets — March 31, 2024 and December 31, 2023. 3 Consolidated Statements of Earnings — For the three months ended March 31, 2024 and 2023. 4 Consolidated Statements of Comprehensive Earnings — For the three months ended March 31, 2024 and 2023. 5 Consolidated Statements of Changes in Stockholders' Equity — For the three months ended March 31, 2024 and 2023 . 6 Consolidated Statements of Cash Flows — For the three months ended March 31, 2024 and 2023. 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 38 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 54 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

Controls and Procedures. 54 Part II: OTHER INFORMATION 55 Item 1. Legal Proceedings. 55 Item 1A. Risk Factors. 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 55 Item 3. Defaults Upon Senior Securities. 55 Item 4. Mine Safety Disclosures. 55 Item 5. Other Information. 55 Item 6. Exhibits. 56

Signatures

Signatures 57 EX-10.1 FORM OF RESTRICTED SHARE UNIT AWARD AGREEMENT 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 Table of Contents

Financ ial Information

Part I. Financ ial Information

Financia l Statements

Item 1. Financia l Statements WILSON BANK HOLDING COMPANY Consolidated B alance Sheets March 31, 2024 and December 31, 2023 (Unaudited) (Audited) March 31, 2024 December 31, 2023 (Dollars in Thousands Except Share Amounts) Assets Loans $ 3,617,057 $ 3,595,523 Less: Allowance for credit losses ( 44,742 ) ( 44,848 ) Net loans 3,572,315 3,550,675 Securities available-for-sale, at market (amortized cost $ 982,687 and $ 930,439 , respectively) 857,010 811,081 Loans held for sale 4,324 2,294 Interest bearing deposits 241,369 213,701 Restricted equity securities 3,436 3,436 Federal funds sold 10,192 10,159 Total earning assets 4,688,646 4,591,346 Cash and due from banks 22,066 28,775 Bank premises and equipment, net 61,924 62,398 Accrued interest receivable 16,621 15,197 Deferred income tax asset 47,248 45,473 Bank owned life insurance 60,070 59,645 Other assets 38,907 38,837 Goodwill 4,805 4,805 Total assets $ 4,940,287 $ 4,846,476 Liabilities and Shareholders' Equity Deposits: Noninterest-bearing $ 380,694 $ 389,725 Interest bearing 937,874 934,709 Savings and money market accounts 1,540,531 1,476,995 Time 1,588,296 1,565,677 Total deposits 4,447,395 4,367,106 Accrued interest payable and other liabilities 57,373 49,965 Total liabilities 4,504,768 4,417,071 Shareholders' equity: Common stock, $ 2.00 par value; authorized 50,000,000 shares, issued and outstanding 11,778,331 and 11,686,363 shares, respectively 23,557 23,373 Additional paid-in capital 143,460 136,866 Retained earnings 361,253 357,260 Noncontrolling interest in consolidated subsidiary 80 69 Accumulated other comprehensive losses, net of taxes of $ 32,846 and $ 31,195 respectively ( 92,831 ) ( 88,163 ) Total shareholders' equity 435,519 429,405 Total liabilities and shareholders' equity

View Full Filing

View this 10-Q filing on SEC EDGAR