Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Mar. 06, 2023 | Jun. 30, 2022 | |
Document Information [Line Items] | |||
Entity Registrant Name | WILSON BANK HOLDING COMPANY | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document, Type | 10-K | ||
Document, Annual Report | true | ||
Document, Period End Date | Dec. 31, 2022 | ||
Document, Transition Report | false | ||
Entity, File Number | 0-20402 | ||
Entity, Incorporation, State or Country Code | TN | ||
Entity, Tax Identification Number | 62-1497076 | ||
Entity, Address, Address Line One | 623 West Main Street | ||
Entity, Address, City or Town | Lebanon | ||
Entity, Address, State or Province | TN | ||
Entity, Address, Postal Zip Code | 37087 | ||
City Area Code | 615 | ||
Local Phone Number | 444-2265 | ||
Title of 12(g) Security | Common Stock, $2.00 par value per share | ||
No Trading Symbol Flag | true | ||
Entity, Well-known Seasoned Issuer | No | ||
Entity, Voluntary Filers | No | ||
Entity, Current Reporting Status | Yes | ||
Entity, Interactive Data, Current | Yes | ||
Entity, Filer Category | Large Accelerated Filer | ||
Entity, Small Business | false | ||
Entity, Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity, Shell Company | false | ||
Auditor Name | MAGGART & ASSOCIATES, P.C. | ||
Auditor Location | Nashville, Tennessee | ||
Auditor Firm ID | 763 | ||
Entity, Public Float | $ 701,124,242 | ||
Entity, Common Stock Shares, Outstanding | 11,571,627 | ||
Documents Incorporated By Reference Text Block | DOCUMENTS INCORPORATED BY REFERENCE Part of Form 10-K Documents from which portions are incorporated by reference Part II Portions of the Registrant’s Annual Report to Shareholders for the fiscal year ended December 31, 2022 are incorporated by reference into Items 1, 5, 7, 7A and 8. Part III Portions of the Registrant’s Proxy Statement to be filed relating to the Registrant’s Annual Meeting of Shareholders to be held on April 25, 2023 are incorporated by reference into Items 10, 11, 12, 13 and 14. | ||
Amendment Flag | false | ||
Entity Central Index Key | 0000885275 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Loans, net of allowance for credit losses of $39,813 and $39,632, respectively | $ 3,113,796,000 | $ 2,444,282,000 |
Available-for-sale securities, at market (amortized cost $972,315 and $906,135, respectively) | 822,812,000 | 897,585,000 |
Loans held for sale | 3,355,000 | 11,843,000 |
Interest bearing deposits | 78,694,000 | 400,940,000 |
Federal funds sold | 308,000 | 27,055,000 |
Restricted equity securities, at cost | 4,357,000 | 5,089,000 |
Total earning assets | 4,023,322,000 | 3,786,794,000 |
Cash and due from banks | 25,787,000 | 25,423,000 |
Premises and equipment, net | 62,031,000 | 62,846,000 |
Accrued interest receivable | 11,397,000 | 7,641,000 |
Deferred income taxes | 51,323,000 | 12,792,000 |
Bank owned life insurance | 58,007,000 | 46,206,000 |
Goodwill | 4,805,000 | 4,805,000 |
Other assets | 48,978,000 | 43,089,000 |
Total assets | 4,285,650,000 | 3,989,596,000 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Noninterest-bearing | 414,905,000 | 433,500,000 |
Interest bearing | 3,477,800,000 | 3,121,571,000 |
Total deposits | 3,892,705,000 | 3,555,071,000 |
Accrued interest and other liabilities | 32,493,000 | 20,808,000 |
Total liabilities | 3,925,198,000 | 3,575,879,000 |
Stockholders’ equity: | ||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 11,472,181 and 11,201,504 shares issued and outstanding, respectively | 22,944,000 | 22,403,000 |
Additional paid-in capital | 122,298,000 | 105,177,000 |
Retained earnings | 325,625,000 | 292,452,000 |
Noncontrolling interest in consolidated subsidiary | 15,000 | 0 |
Accumulated other comprehensive losses, net of taxes of $39,073 and $2,235, respectively | (110,430,000) | (6,315,000) |
Total stockholders’ equity | 360,452,000 | 413,717,000 |
Total liabilities and stockholders’ equity | $ 4,285,650,000 | $ 3,989,596,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Allowance for credit losses | $ 39,813 | $ 39,632 | $ 38,539 | $ 28,726 | |
Available-for-sale, amortized cost | $ 972,315 | $ 972,315 | $ 906,135 | ||
Common stock, par value (in dollars per share) | $ 2 | $ 2 | |||
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 | |||
Common stock, shares issued (in shares) | 11,472,181 | 11,201,504 | |||
Common stock, shares outstanding (in shares) | 11,472,181 | 11,201,504 | |||
Accumulated other comprehensive losses, taxes | $ 39,073 | $ 2,235 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income: | |||
Interest and fees on loans | $ 138,161,000 | $ 118,676,000 | $ 113,224,000 |
Interest and dividends on securities: | |||
Taxable securities | 15,902,000 | 8,922,000 | 7,272,000 |
Exempt from Federal income taxes | 1,392,000 | 1,229,000 | 1,102,000 |
Interest on loans held for sale | 264,000 | 438,000 | 616,000 |
Interest on Federal funds sold | 111,000 | 13,000 | 56,000 |
Interest on interest bearing deposits | 1,522,000 | 445,000 | 582,000 |
Interest and dividends on restricted equity securities | 188,000 | 118,000 | 116,000 |
Total interest income | 157,540,000 | 129,841,000 | 122,968,000 |
Interest expense: | |||
Interest on negotiable order of withdrawal accounts | 2,546,000 | 1,866,000 | 2,150,000 |
Interest on money market accounts and other savings accounts | 7,021,000 | 2,027,000 | 4,163,000 |
Interest on certificates of deposit and individual retirement accounts | 6,486,000 | 7,610,000 | 10,939,000 |
Interest on Federal funds purchased | 14,000 | 0 | 0 |
Interest on Federal Home Loan Bank advances | 0 | 133,000 | 967,000 |
Interest on finance leases | 66,000 | 0 | 0 |
Total interest expense | 16,133,000 | 11,636,000 | 18,219,000 |
Net interest income before provision for credit losses | 141,407,000 | 118,205,000 | 104,749,000 |
Provision for credit losses - loans | 8,656,000 | 1,143,000 | 9,696,000 |
Provision for credit losses - off-balance sheet exposures | (1,014,000) | 262,000 | 259,000 |
Net interest income after provision for credit losses | 133,765,000 | 116,800,000 | 94,794,000 |
Non-interest income | 27,420,000 | 32,850,000 | 29,795,000 |
Non-interest expense | 93,109,000 | 85,492,000 | 76,479,000 |
Earnings before income taxes | 68,076,000 | 64,158,000 | 48,110,000 |
Income taxes | 15,056,000 | 14,732,000 | 9,618,000 |
Net earnings | 53,020,000 | 49,426,000 | 38,492,000 |
Net loss attributable to noncontrolling interest | 22,000 | 0 | 0 |
Net earnings attributable to Wilson Bank Holding Company | $ 53,042,000 | $ 49,426,000 | $ 38,492,000 |
Basic earnings per common share (in dollars per share) | $ 4.66 | $ 4.44 | $ 3.52 |
Diluted earnings per common share (in dollars per share) | $ 4.65 | $ 4.43 | $ 3.51 |
Basic (in shares) | 11,377,617 | 11,131,897 | 10,927,065 |
Diluted (in shares) | 11,408,924 | 11,162,956 | 10,953,746 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net earnings | $ 53,020 | $ 49,426 | $ 38,492 |
Other comprehensive earnings (losses): | |||
Unrealized gains (losses) on available-for-sale securities | (142,573) | (18,223) | 9,645 |
Reclassification adjustment for net losses (gains) included in net earnings | 1,620 | (28) | (882) |
Tax effect | 36,838 | 4,771 | (2,291) |
Other comprehensive earnings (losses) | (104,115) | (13,480) | 6,472 |
Comprehensive earnings (losses) | (51,095) | 35,946 | 44,964 |
Comprehensive losses attributable to noncontrolling interest | 22 | 0 | 0 |
Comprehensive earnings (losses) attributable to Wilson Bank Holding Company | $ (51,073) | $ 35,946 | $ 44,964 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2019 | $ 21,586 | $ 82,249 | $ 232,456 | $ 0 | $ 693 | $ 336,984 | ||||||
Cash dividends declared | 0 | 0 | (13,013) | 0 | 0 | (13,013) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 361 | 9,695 | 0 | 0 | 0 | 10,056 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 40 | 678 | 0 | 0 | 0 | 718 | ||||||
Share based compensation expense | 0 | 412 | 0 | 0 | 0 | 412 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | 6,472 | 6,472 | ||||||
Net earnings for the year | 0 | 0 | 38,492 | 0 | 0 | 38,492 | ||||||
Balance at Dec. 31, 2020 | 21,987 | 93,034 | 257,935 | 0 | 7,165 | 380,121 | ||||||
Cash dividends declared | 0 | 0 | (14,909) | 0 | 0 | (14,909) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 373 | 10,815 | 0 | 0 | 0 | 11,188 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 43 | 819 | 0 | 0 | 0 | 862 | ||||||
Share based compensation expense | 0 | 509 | 0 | 0 | 0 | 509 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | (13,480) | (13,480) | ||||||
Net earnings for the year | 0 | 0 | 49,426 | 0 | 0 | 49,426 | ||||||
Balance at Dec. 31, 2021 | $ 0 | $ 0 | $ 1,011 | $ 0 | $ 0 | $ 1,011 | 22,403 | 105,177 | 292,452 | 0 | (6,315) | 413,717 |
Cash dividends declared | 0 | 0 | (20,880) | 0 | 0 | (20,880) | ||||||
Issuance of shares of common stock pursuant to dividend reinvestment plan | 501 | 15,616 | 0 | 0 | 0 | 16,117 | ||||||
Issuance of shares of common stock pursuant to exercise of stock options | 39 | 596 | 0 | 0 | 0 | 635 | ||||||
Share based compensation expense | 0 | 910 | 0 | 0 | 0 | 910 | ||||||
Net change in fair value of available-for-sale securities during the year, net of taxes | 0 | 0 | 0 | 0 | (104,115) | (104,115) | ||||||
Net earnings for the year | 0 | 0 | 53,042 | (22) | 0 | 53,020 | ||||||
Vesting of restricted share awards | 1 | (1) | 0 | 0 | 0 | 0 | ||||||
Noncontrolling interest contribution | 0 | 0 | 0 | 37 | 0 | 37 | ||||||
Balance at Dec. 31, 2022 | $ 22,944 | $ 122,298 | $ 325,625 | $ 15 | $ (110,430) | $ 360,452 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash dividends declared, per share (in dollars per share) | $ 1.85 | $ 1.35 | $ 1.20 |
Issuance of shares of common stock pursuant to dividend reinvestment plan, shares (in shares) | 250,365 | 186,583 | 180,424 |
Issuance of shares of common stock, shares (in shares) | 19,687 | 21,517 | 19,981 |
Net change in fair value of available-for-sale securities during the period, taxes | $ (36,838) | $ (4,771) | $ 2,291 |
Net change in fair value of available-for-sale securities during the period, taxes | $ 36,838 | $ 4,771 | $ (2,291) |
Vesting of restricted share awards, shares (in shares) | 625 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES | |||
Consolidated net income | $ 53,020,000 | $ 49,426,000 | $ 38,492,000 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities | |||
Provision for credit losses | 7,642,000 | 1,405,000 | 9,955,000 |
Deferred income taxes provision | (2,051,000) | (932,000) | (3,304,000) |
Depreciation and amortization of premises and equipment | 4,462,000 | 4,235,000 | 4,250,000 |
Loss (gain) on disposal of premises and equipment | (291,000) | 43,000 | 63,000 |
Net amortization of securities | 4,003,000 | 5,377,000 | 4,588,000 |
Net realized losses (gains) on sales of securities | 1,620,000 | (28,000) | (882,000) |
Gains on mortgage loans sold, net | (2,973,000) | (9,997,000) | (9,560,000) |
Stock-based compensation expense | 1,864,000 | 1,428,000 | 1,180,000 |
Loss (gain) on other real estate | 0 | 15,000 | (658,000) |
Loss (gain) on sale of other assets | (8,000) | (6,000) | 4,000 |
Increase in value of life insurance and annuity contracts | (1,345,000) | (1,109,000) | (959,000) |
Mortgage loans originated for resale | (106,601,000) | (215,813,000) | (213,483,000) |
Proceeds from sale of mortgage loans | 118,062,000 | 233,441,000 | 221,748,000 |
Gain on lease modification | 0 | 0 | (29,000) |
Right of use asset amortization | 397,000 | 387,000 | 376,000 |
Change in | |||
Accrued interest receivable | (3,756,000) | (125,000) | (1,571,000) |
Other assets | 248,000 | (4,458,000) | (805,000) |
Accrued interest payable | 1,516,000 | (1,458,000) | (763,000) |
Other liabilities | (2,602,000) | (383,000) | 1,596,000 |
TOTAL ADJUSTMENTS | 20,187,000 | 12,022,000 | 11,746,000 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 73,207,000 | 61,448,000 | 50,238,000 |
INVESTING ACTIVITIES | |||
Purchases | (200,075,000) | (530,155,000) | (409,996,000) |
Sales | 42,728,000 | 39,652,000 | 54,870,000 |
Maturities, prepayments and calls | 85,544,000 | 149,861,000 | 200,785,000 |
Redemptions (purchases) of restricted equity securities | 732,000 | 0 | (409,000) |
Net increase in loans | (673,871,000) | (164,095,000) | (236,411,000) |
Purchase of buildings, leasehold improvements, and equipment | (5,022,000) | (8,922,000) | (2,220,000) |
Proceeds from sale of premises and equipment | 1,758,000 | 0 | 0 |
Proceeds from sale of other assets | 34,000 | 109,000 | 9,000 |
Proceeds from sale of other real estate | 0 | 167,000 | 2,307,000 |
Purchase of life insurance and annuity contracts | (10,978,000) | (15,079,000) | (6,687,000) |
Redemption of annuity contracts | 248,000 | 0 | 0 |
Increase in other investments | 0 | (2,000,000) | 0 |
NET CASH USED IN INVESTING ACTIVITIES | (758,902,000) | (530,462,000) | (397,752,000) |
FINANCING ACTIVITIES | |||
Net change in deposits - non-maturing | 163,933,000 | 612,696,000 | 563,605,000 |
Net change in deposits - time | 173,701,000 | (18,220,000) | (20,615,000) |
Net change in Federal Home Loan Bank Advances | 0 | (3,638,000) | (19,975,000) |
Change in escrow balances | 3,549,000 | (4,403,000) | 5,824,000 |
Repayment of finance lease obligation | (26,000) | 0 | 0 |
Noncontrolling interest contributions | 37,000 | 0 | 0 |
Issuance of common stock related to exercise of stock options | 635,000 | 862,000 | 718,000 |
Issuance of common stock pursuant to dividend reinvestment plan | 16,117,000 | 11,188,000 | 10,056,000 |
Cash dividends paid on common stock | (20,880,000) | (14,909,000) | (13,013,000) |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 337,066,000 | 583,576,000 | 526,600,000 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (348,629,000) | 114,562,000 | 179,086,000 |
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 453,418,000 | 338,856,000 | 159,770,000 |
CASH AND CASH EQUIVALENTS - END OF YEAR | 104,789,000 | 453,418,000 | 338,856,000 |
Supplemental disclosure of cash flow information: | |||
Interest | 14,617,000 | 12,106,000 | 18,146,000 |
Taxes | 19,446,000 | 16,827,000 | 13,156,000 |
Non-cash investing and financing activities: | |||
Change in fair value of securities available-for-sale, net of taxes of $36,838 in 2022, $4,771 in 2021, and $(2,291) in 2020 | (104,115,000) | (13,480,000) | 6,472,000 |
Non-cash transfers from loans to other real estate | 0 | 182,000 | 992,000 |
Non-cash transfers from other real estate to loans | 0 | 0 | 40,000 |
Non-cash transfers from loans to other assets | $ 0 | $ 129,000 | $ 14,000 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Unrealized gain in value of securities available-for-sale, taxes | $ 36,838 | $ 4,771 | $ (2,291) |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Summary of Significant Accounting Policies The accounting and reporting policies of Wilson Bank Holding Company (“the Company”) and its wholly owned subsidiary, Wilson Bank & Trust (“Wilson Bank” or "the Bank"), are in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to general practices within the banking industry. The following is a brief summary of the significant policies. (a) Principles of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, Wilson Bank, and Wilson Bank's 51% owned subsidiary, Encompass Home Lending, LLC ("Encompass"). On June 1, 2022 , (b) Nature of Operations Wilson Bank operates under a state bank charter and provides full banking services. As a Tennessee state-chartered bank that is not areas served by Wilson Bank include Wilson County, DeKalb County, Rutherford County, Smith County, Trousdale County, Putnam County, Sumner County, Davidson County and Williamson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at th e main office and twenty-eight (c) Use of Estimates In preparing consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and 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 relate to the determination of the allowance for credit losses - loans and off-balance sheet credit exposures, 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. (d) Significant Group Concentrations of Credit Risk Most of the Company’s activities are with customers located within Middle Tennessee. The types of securities in which the Company invests are described in note 3. 2. not one 2. (e) Loans The Company grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans throughout Middle Tennessee. The ability of the Company’s debtors to honor their contracts is dependent upon the real estate and general economic conditions in this area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for unearned income, the allowance for credit losses, and any unamortized deferred fees or costs on originated loans, and premiums or discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized on a straight line basis over the respective term of the loan. As part of its routine credit monitoring process, the Company performs regular credit reviews of the loan portfolio and loans receive risk ratings by the assigned credit officer, which are subject to validation by the Company's independent loan review department. Risk ratings are categorized as pass, special mention, substandard or doubtful. The Company believes that its categories follow those outlined by the FDIC, Wilson Bank's primary federal regulator. Generally the accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 no 180 All interest accrued but not (f) Allowance for Credit Losses - Loans On January 1, 2022 , 2016 13 , 326 326 326” 326 326 not not Effective January 1, 2022, 326 January 1, 2022 326 In connection with the adoption of ASC 326 , The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326 may not not The Company’s discounted cash flow methodology incorporates a probability of default and loss given default model, as well as expectations of future economic conditions, using reasonable and supportable forecasts. Together, the probability of default and loss given default model with the use of reasonable and supportable forecasts generate estimates for cash flows expected and not third eight four may For segments where the discounted cash flow methodology is not The estimated credit losses for all loan segments are adjusted for changes in qualitative factors not may 1. Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not 2. Changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. 3. Changes in the nature and volume of the portfolio and in the terms of loans. 4. Changes in the experience, ability, and depth of lending management and other relevant staff. 5. Changes in the volume and severity of past-due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans. 6. Changes in the quality of the Company's loan review system. 7. Changes in the value of underlying collateral for collateral-dependent loans. 8. The existence and effect of any concentrations of credit, and changes in the level of such concentrations. 9. The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Company’s existing portfolio. The qualitative allowance allocation, as determined by the processes noted above, is increased or decreased for each loan segment based on the assessment of these various qualitative factors. Loans that do not not 326 In assessing the adequacy of the allowance for credit losses, the Company considers the results of the Company's ongoing independent loan review process. The Company undertakes this process both to ascertain those loans in the portfolio with elevated credit risk and to assist in its overall evaluation of the risk characteristics of the entire loan portfolio. Its loan review process includes the judgment of management, independent internal loan reviewers and reviews that may third In accordance with CECL, losses are estimated over the remaining contractual terms of loans, adjusted for prepayments and curtailment. The contractual term excludes expected extensions, renewals and modifications unless management has a reasonable expectation at the reporting date that a TDR will be executed or such renewals, extensions or modifications are included in the original loan agreement and are not Credit losses are estimated on the amortized cost basis of loans, which includes the principal balance outstanding and deferred loan fees and costs. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. (g) Allowance for Loan Losses (Allowance) Prior to the Adoption of FASB ASC 326 January 1, 2022 , two 450 20, 310 10 35, 450 20 310 10 35 The allowance allocation began with a process of estimating the probable losses in each of the twelve twenty The estimated loan loss allocation for all twelve not not twelve We then tested the resulting allowance by comparing the balance in the allowance to industry and peer information. Our management then evaluated the result of the procedures performed, including the result of our testing, and concluded on the appropriateness of the balance of the allowance in its entirety. The board of directors reviewed and approved the assessment prior to the filing of quarterly and annual financial information. A loan was impaired when, based on current information and events, it was probable that we would be unable to collect all amounts due according to the contractual terms of the loan agreement. Collection of all amounts due according to the contractual terms means that both the interest and principal payments of a loan would be collected as scheduled in the loan agreement. An impairment allowance was recognized if the fair value of the loan was less than the recorded investment in the loan (recorded investment in the loan was the principal balance plus any accrued interest, net of deferred loan fees or costs and unamortized premium or discount). The impairment was recognized through the allowance. Loans that were impaired were recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate, or if the loan was collateral dependent, impairment measurement was based on the fair value of the collateral, less estimated disposal costs. If the measure of the impaired loan was less than the recorded investment in the loan, the Company recognized an impairment by creating a valuation allowance with a corresponding charge to the provision for loan losses or by adjusting an existing valuation allowance for the impaired loan with a corresponding charge or credit to the provision for loan losses. Management believes it followed appropriate accounting and regulatory guidance in determining impairment and accrual status of impaired loans. (h) 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 , No Estimating credit losses on amounts expected to be funded uses the same methodology as described for loans in note 1 (i) Debt Securities Certain debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity” and recorded at amortized cost. Trading securities are recorded at fair value with changes in fair value included in earnings. Securities not may A debt security is placed on nonaccrual status at the time any principal and interest payments become 90 not No securities have been classified as trading securities or held-to-maturity securities at December 31, 2022 2021 (j) 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 not not (k) Equity Securities Equity securities are carried at fair value, with changes in fair value reported in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. (l) Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not (m) Federal Home Loan Bank (FHLB) Stock The Company is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may (n) Loans Held for Sale Mortgage loans held for sale are carried at fair value. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. (o) Premises and Equipment Premises and equipment are stated at cost. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the related assets ranging from 3 to 40 years. Gains or losses realized on items retired and otherwise disposed of are credited or charged to operations and cost and related accumulated depreciation are removed from the asset and accumulated depreciation accounts. Expenditures for major renovations and improvements of premises and equipment are capitalized and those for maintenance and repairs are charged to earnings as incurred. (p) Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less the estimated cost to sell at the date the Company acquires the property, establishing a new cost basis. Subsequent to their acquisition by the Company, valuations of these assets are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance [i.e. any direct write-downs] (q) Goodwill and Other Intangible Assets Goodwill arises from business combinations and is determined as the excess of fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a business combination and determined to have an indefinite useful life are not selected September 30th September 30, 2022. (r) Leases Leases are classified as operating or finance leases at the lease commencement date. The Company leases certain locations and equipment. The Company records leases on the balance sheet in the form of a lease liability for the present value of future minimum payments under the lease terms and right-of-use asset equal to the lease liability adjusted for items such as deferred or prepaid rent, lease incentives, and any impairment of the right-of-use asset. The discount rate used in determining the lease liability is based upon incremental borrowing rates the Company could obtain for similar loans as of the date of commencement or renewal. The Company does not one At lease inception, the Company determines the lease term by considering the minimum lease term and all optional renewal periods that the Company is reasonably certain to renew. The lease term is also used to calculate straight-line rent expense. The depreciable life of leasehold improvements is limited by the estimated lease term, including renewals if they are reasonably certain to be renewed. The Company’s leases do not Operating lease expense consists of a single lease cost allocated over the remaining lease term on a straight-line bases, variable lease payments not (s) Mortgage Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no may Servicing fee income, which is reported on the income statement as mortgage servicing income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against servicing fee income. Servicing fees totaled $111,000 for the year ended December 31, 2022. not (t) Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, interest-bearing deposits with maturities fewer than 90 one (u) Long-Term Assets Premises and equipment, intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not (v) Bank Owned Life Insurance The Bank has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. (w) Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (FASB ASC 740, Income Taxes The income tax accounting guidance results in two Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, not" 50 not 50 not not not not The Company recognizes interest and penalties on income taxes as a component of income tax expense. ( x Derivatives Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in net gains on sale of mortgage loans. Fair Value Hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. The Company utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate loans. The hedging strategy on loans converts the fixed interest rates to LIBOR-based variable interest rates. These derivatives are designated as partial term hedges of selected cash flows covering specified periods of time prior to the maturity dates of the hedged loans. (y) Stock-Based Compensation Stock compensation accounting guidance (FASB ASC 718, Compensation—Stock Compensation” not not The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and cash-settled SARs. (z) Retirement Plans Employee 401 (aa) Advertising Costs Advertising costs are expensed as incurred by the Company and totaled $3,455,000, $2,736,000 and $2,487,000 for 2022, 2021 2020 (bb) Earnings Per Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may (cc) Comprehensive Income (Loss) Comprehensive income (loss) consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale, net of taxes, which are also recognized as separate components of equity. (dd) Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not (ee) Restrictions on Cash Cash on hand or on deposit with the Federal Reserve Bank was required to meet regulatory reserve and clearing requirements . (ff) Segment Reporting Management analyzes the operations of the Company assuming one (gg) Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in note 22 (hh) Reclassification Certain reclassifications have been made to the 2021 2020 2022 (ii) Off-Balance-Sheet Financial Instruments In the ordinary course of business, Wilson Bank has entered into off-balance-sheet financial instruments consisting of commitments to extend credit, commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they are funded or related fees are incurred or received. (jj) Subsequent Events The Company has evaluated subsequent events for recognition and disclosure thr ough March 1, 2023, (kk) Accounting Standard Updates ASU 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 January 1, 2022 2016 13, 2 ASU 2020 04, Reference Rate Reform (Topic 848 March 2020 , March 12, 2020 December 31, 2022 . ASU 2022 06, Reference Rate Reform (Topic 848 848. December 2022, 2020 04 December 31, 2022 December 31, 2024. 2022 August 2023 . ASU 2022 01, Derivatives and Hedging (Topic 815 2022 01 one December 15, 2022. 2022 01 not ASU 2022 02, Financial Instruments - Credit Losses (Topic 326 2022 02 326. 326 20. n those fiscal years, beginning after December 15, 2022 . As permitted, we elected to partially adopt this ASU with regards to reporting gross charge-offs by vintage. We will adopt the TDR guidance beginning January 1, 2023. Other than those previously discussed, there were no |
Note 2 - Loans and Allowance fo
Note 2 - Loans and Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 2 Loans and Allowance for Credit Losses Loans are reported at their outstanding principal balances less unearned income, the allowance for credit losses at December 31, 2022 December 31, 2021 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 classification of loans at December 31, 2022 2021 In Thousands 2022 2021 Residential 1-4 family real estate $ 854,970 $ 689,579 Commercial and multi-family real estate 1,064,297 908,673 Construction, land development and farmland 879,528 612,659 Commercial, industrial and agricultural 124,603 118,155 1-4 family equity lines of credit 151,032 92,229 Consumer and other 93,332 74,643 Total loans before net deferred loan fees 3,167,762 2,495,938 Net deferred loan fees (14,153 ) (12,024 ) Total loans 3,153,609 2,483,914 Less: Allowance for credit losses (39,813 ) (39,632 ) Net loans $ 3,113,796 2,444,282 At December 31, 2022 December 31, 2021 led $1,916,960,000 and $578,978,000, respectively. Risk characteristics relevant to each portfolio segment are as follows: Construction, land development and farmland: may may may Residential 1 4 1 4 first second 1 4 first second second 1 4 Commercial and multi-family 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 third 50 third Commercial and industrial: d $89,000 at December 31, 2022 December 31, 2021. may not may may may Consumer: may one five may The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2022 2021 Loans on Nonaccrual Status In Thousands 2022 2021 Residential 1-4 family real estate $ — $ — Commercial and multi-family real estate — — Construction, land development and farmland — — Commercial, industrial and agricultural — — 1-4 family equity lines of credit — — Consumer and other — — Total $ — $ — At December 31, 2022 y had no collateral dependent loans that were December 31, 2021 There was no impact on net interest income given the lack of these types of loans for the years ended December 31, 2022 December 31, 2021 not December 31, 2020. Potential problem loans, which include nonperforming loans, amounted to approximatel y million December 31, 2022 million December 31, 2021 The following table presents our loan balances by primary loan classification and the amount classified within each risk rating category. Pass rated loans include all credits other than those included in special mention, substandard and doubtful which are defined as follows: • Special mention loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may • Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize liquidation of the debt. Substandard loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not • Doubtful loans have all the characteristics of substandard loans with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The Company considers all doubtful loans to be collateral dependent and places the loans on nonaccrual status. Credit Quality Indicators The following table presents loan balances classified within each risk rating category by primary loan type a nd based on year of origination as well as current period gross charge-offs by primary loan type and based on year of origination as of December 31, 2022 . In Thousands Revolving 2022 2021 2020 2019 2018 Prior Loans Total December 31, 2022 Residential 1-4 family real estate: Pass $ 288,041 262,690 106,107 61,984 29,526 83,503 17,751 849,602 Special mention 245 300 885 62 115 1,955 349 3,911 Substandard — — — 131 — 1,326 — 1,457 Total Residential 1-4 family real estate $ 288,286 262,990 106,992 62,177 29,641 86,784 18,100 854,970 Residential 1-4 family real estate: Current-period gross charge-offs $ — — — — — 8 — 8 Commercial and multi-family real estate: Pass $ 269,129 246,265 161,326 107,908 74,494 168,541 36,342 1,064,005 Special mention — — 162 — — 40 — 202 Substandard — — — — — 90 — 90 Total Commercial and multi-family real estate $ 269,129 246,265 161,488 107,908 74,494 168,671 36,342 1,064,297 Commercial and multi-family real estate: Current-period gross charge-offs $ — — — — — — — — Construction, land development and farmland: Pass $ 364,681 237,051 90,341 9,648 5,212 9,445 163,076 879,454 Special mention — — — — — 60 — 60 Substandard — — — — — 14 — 14 Total Construction, land development and farmland $ 364,681 237,051 90,341 9,648 5,212 9,519 163,076 879,528 Construction, land development and farmland: Current-period gross charge-offs $ — — — — — 1 — 1 Commercial, industrial and agricultural: Pass $ 39,222 10,812 15,743 20,441 5,062 4,641 28,567 124,488 Special mention — 44 17 — — 47 — 115 Substandard — — — — — — — — Total Commercial, industrial and agricultural $ 39,229 10,856 15,760 20,441 5,062 4,688 28,567 124,603 Commercial, industrial and agricultural: Current-period gross charge-offs $ 21 — — — — — — 21 1-4 family equity lines of credit: Pass $ — — — — — — 150,849 150,849 Special mention — — — — — — 67 67 Substandard — — — — — — 116 116 Total 1-4 family equity lines of credit $ — — — — — — 151,032 151,032 1-4 family equity lines of credit: Current-period gross charge-offs $ — — — — — — — — Consumer and other: Pass $ 28,487 11,163 18,075 5,995 345 6,757 22,166 92,988 Special mention 74 130 20 2 — — — 226 Substandard 74 19 13 — 11 1 — 118 Total Consumer and other $ 28,635 11,312 18,108 5,997 356 6,758 22,166 93,332 Consumer and other: Current-period gross charge-offs $ 66 74 41 1 — — 1,345 1,527 The following table presents loan balances classified within each risk rating category based on year of originatio n as of December 31, 2022 . In Thousands 2022 2021 2020 2019 2018 Prior Revolving Loans Total December 31, 2022 Pass $ 989,560 767,981 391,592 205,976 114,639 272,887 418,751 3,161,386 Special mention 326 474 1,084 64 115 2,102 416 4,581 Substandard 74 19 13 131 11 1,431 116 1,795 Total $ 989,960 768,474 392,689 206,171 114,765 276,420 419,283 3,167,762 The following table outlines the risk category of loans as of December 31, 2021 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 Family Equity Lines of Credit Consumer and Other Total Credit Risk Profile by Internally Assigned Grade December 31, 2021 Pass $ 682,527 908,409 612,537 118,058 92,208 74,513 2,488,252 Special mention 5,566 — 93 96 11 89 5,855 Substandard 1,486 264 29 1 10 41 1,831 Total $ 689,579 908,673 612,659 118,155 92,229 74,643 2,495,938 Age Analysis of Past Due Loans In Thousands 30-59 Days Past Due 60-89 Days Past Due Nonaccrual and Greater Than 89 Days Total Nonaccrual and Past Due Current Total Loans Recorded Investment Greater Than 89 Days and Accruing December 31, 2022 Residential 1-4 family real estate $ 2,046 1,080 426 3,552 851,418 854,970 $ 426 Commercial and multi-family real estate 397 1,626 400 2,423 1,061,874 1,064,297 400 Construction, land development and farmland 591 — — 591 878,937 879,528 — Commercial, industrial and agricultural 49 62 — 111 124,492 124,603 — 1-4 family equity lines of credit 74 77 — 151 150,881 151,032 — Consumer and other 403 184 43 630 92,702 93,332 43 Total $ 3,560 3,029 869 7,458 3,160,304 3,167,762 $ 869 December 31, 2021 Residential 1-4 family real estate $ 2,072 169 357 2,598 686,981 689,579 $ 357 Commercial and multi-family real estate — — — — 908,673 908,673 — Construction, land development and farmland 1,154 215 — 1,369 611,290 612,659 — Commercial, industrial and agricultural 58 81 — 139 118,016 118,155 — 1-4 family equity lines of credit 170 — 9 179 92,050 92,229 9 Consumer and other 288 99 23 410 74,233 74,643 23 Total $ 3,742 564 389 4,695 2,491,243 2,495,938 $ 389 Loans are charged off when management believes that the full collectability of the loan is unlikely. As such, a loan may Transactions in the allowance for credit losses for the year ended December 31, 2022 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2022 Allowance for credit losses: Beginning balance $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Impact of adopting ASC 326 (3,393 ) (3,433 ) (266 ) 219 (324 ) (367 ) (7,564 ) Provision 1,353 1,886 3,795 (117 ) 396 1,343 8,656 Charge-offs (8 ) — (1 ) (21 ) — (1,527 ) (1,557 ) Recoveries 116 — 20 27 — 483 646 Ending balance $ 7,310 15,299 13,305 1,437 1,170 1,292 39,813 The following tables detail the allowance for loan losses and recorded investment in loans by loan classification and by impairment evaluation method as of December 31, 2021 December 31, 2020 310 326 : In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2021 Allowance for loan losses: Beginning balance $ 8,203 18,343 8,090 1,391 997 1,515 38,539 Provision 971 (1,497 ) 1,296 (35 ) 101 307 1,143 Charge-offs — — (23 ) (33 ) — (992 ) (1,048 ) Recoveries 68 — 394 6 — 530 998 Ending balance $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Ending balance individually evaluated for impairment — — — — — — — Ending balance collectively evaluated for impairment $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Loans: Ending balance $ 689,579 908,673 612,659 118,155 92,229 74,643 2,495,938 Ending balance individually evaluated for impairment $ 134 531 — — — — 665 Ending balance collectively evaluated for impairment $ 689,445 908,142 612,659 118,155 92,229 74,643 2,495,273 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2020 Allowance for loan losses: Beginning balance $ 7,267 12,231 6,184 1,059 889 1,096 28,726 Provision 883 5,812 1,733 341 74 853 9,696 Charge-offs — — — (9 ) (7 ) (898 ) (914 ) Recoveries 53 300 173 — 41 464 1,031 Ending balance $ 8,203 18,343 8,090 1,391 997 1,515 38,539 The following table presents the amortized cost basis of collateral dependent loans at December 31, 2022 In Thousands Real Estate Other Total December 31, 2022 Residential 1-4 family real estate $ 130 — 130 Commercial and multi-family real estate 508 — 508 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — $ 638 — 638 The following table presents impaired loans at December 31, 2021 310 326 . December 31, 2021 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2021 With no related allowance recorded: Residential 1-4 family real estate $ 136 134 — 614 7 Commercial and multi-family real estate 532 531 — 303 25 Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ 668 665 — 917 32 With allowance recorded: Residential 1-4 family real estate $ — — — 602 — Commercial and multi-family real estate — — — 342 — Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ — — — 944 — Total: Residential 1-4 family real estate $ 136 134 — 1,216 7 Commercial and multi-family real estate 532 531 — 645 25 Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ 668 665 — 1,861 32 The Company’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring (TDR), where economic or other concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. The concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six The following table summarizes the carrying balances of TDRs at December 31, 2022 December 31, 2021 2022 2021 Performing TDRs $ 778 876 Nonperforming TDRs 150 165 Total TDRs $ 928 1,041 The following table outlines the amount of each TDR categorized by loan classification for the years ended December 31, 2022 2021 2020 December 31, 2022 December 31, 2021 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family real estate — $ — $ — — $ — $ — Commercial and multi-family real estate — — — — — — Construction, land development and farmland — — — — — — Commercial, industrial and agricultural — — — — — — 1-4 family equity lines of credit — — — — — — Consumer and other — — — — — — Total — $ — $ — — $ — $ — December 31, 2020 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family real estate — $ — $ — Commercial and multi-family real estate 1 111 132 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — Total 1 $ 111 $ 132 As of December 31, 2022 2021 2020 y did not twelve As of December 31, 2022 ad $11,000 of consumer December 31, 2021 The Company’s principal customers are primarily in Middle Tennessee. Credit is extended to businesses and individuals and is evidenced by promissory notes. The terms and conditions of the loans including collateral vary depending upon the purpose of the credit and the borrower’s financial condition. In the normal course of business, Wilson Bank has made loans at prevailing interest rates and terms to directors and executive officers of the Company and to their affiliates. The aggregate amount of these loa ns was and at December 31, 2022 2021 None three December 31, 2022 An analysis of the activity with respect to such loans to related parties is as follows: In Thousands December 31, 2022 2021 Balance, January 1 $ 5,725 $ 7,675 New loans and renewals during the year 13,379 11,009 Repayments (including loans paid by renewal) during the year (12,245 ) (12,959 ) Balance, December 31 $ 6,859 $ 5,725 In 2022, 2021 2020 t of $106,601,000, $215 ,813,000 2022, 2021 2020 In some instances, Wilson Bank sells loans that contain provisions which permit the buyer to seek recourse against Wilson Bank in certain circumstances. At December 31, 2022 2021 ated $84,162,000 and $165,061,000, respectively. At December 31, 2022 , Wilson Bank has not no |
Note 3 - Debt Securities
Note 3 - Debt Securities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 3 Debt Securities Debt securities have been classified in the consolidated balance sheet according to management’s intent. Debt securities at December 31, 2022 Securities Available-For-Sale In Thousands Gross Unrealized Gross Unrealized Fair Amortized Cost Gains Losses Value U.S. Treasury and other U.S. government agencies $ 7,353 — 856 6,497 U.S. Government-sponsored enterprises (GSEs) 177,261 — 32,049 145,212 Mortgage-backed securities 518,727 1 74,290 444,438 Asset-backed securities 47,538 — 2,288 45,250 Corporate bonds 2,500 — 97 2,403 Obligations of states and political subdivisions 218,936 — 39,924 179,012 $ 972,315 1 149,504 822,812 The Company’s classification of securities at December 31, 2021 Securities Available-For-Sale In Thousands Gross Unrealized Gross Unrealized Fair Amortized Cost Gains Losses Value U.S. Treasury and other U.S. government agencies $ 7,320 — 99 7,221 U.S. Government-sponsored enterprises (GSEs) 163,700 20 4,490 159,230 Mortgage-backed securities 465,588 2,726 6,537 461,777 Asset-backed securities 46,583 213 83 46,713 Corporate bonds 2,500 75 — 2,575 Obligations of states and political subdivisions 220,444 2,611 2,986 220,069 $ 906,135 5,645 14,195 897,585 As of December 31, 2022 Included in mortgage-backed securities are collateralized mortgage obligations to taling $148,460,000 (fair value of $126,190,000) and December 31, 2022 2021 The amortized cost and estimated market value of debt securities at December 31, 2022 may In Thousands Securities Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 5,078 4,930 Due after one year through five years 79,925 71,315 Due after five years through ten years 270,747 226,085 Due after ten years 616,565 520,482 $ 972,315 822,812 Results from sales of debt securities are as follows: In Thousands 2022 2021 2020 Gross proceeds $ 42,728 39,652 54,870 Gross realized gains $ — 137 901 Gross realized losses (1,620 ) (109 ) (19 ) Net realized gains (losses) $ (1,620 ) 28 882 Securities carried on the balance sheet of approxim ately $477,051,000 (approximate market value of $405,043,000) and $368, 718,000 December 31, 2022 2021 At December 31, 2022 no one 10% Included in the securities above are $111,505,000 (approximate market value of $90,008,000) and $111,103,000 (approximate market value of $110,384,000) a December 31, 2022 2021 The following table shows the gross unrealized losses and fair value of the Company’s available-for-sale securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 2021 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total Number of Number of Unrealized Securities Unrealized Securities Unrealized 2022 Fair Value Losses Included Fair Value Losses Included Fair Value Losses Available-for-Sale Securities: Debt securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,497 $ 856 3 $ 6,497 $ 856 U.S. Government-sponsored enterprises (GSEs) 9,747 872 4 135,465 31,177 54 145,212 32,049 Mortgage-backed securities 148,441 14,601 113 295,431 59,689 136 443,872 74,290 Asset-backed securities 35,276 1,607 21 9,974 681 11 45,250 2,288 Corporate bonds 2,403 97 1 — — — 2,403 97 Obligations of states and political subdivisions 58,567 6,056 76 120,445 33,868 128 179,012 39,924 $ 254,434 $ 23,233 215 $ 567,812 $ 126,271 332 $ 822,246 $ 149,504 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total Number of Number of Unrealized Securities Unrealized Securities Unrealized 2021 Fair Value Losses Included Fair Value Losses Included Fair Value Losses Available-for-Sale Securities: Debt securities: U.S. Treasury and other U.S. government agencies $ 7,221 $ 99 3 $ — $ — — $ 7,221 $ 99 U.S. Government-sponsored enterprises (GSEs) 110,981 2,466 33 45,725 2,024 19 156,706 4,490 Mortgage-backed securities 317,211 4,644 96 54,692 1,893 33 371,903 6,537 Asset-backed securities 17,945 67 9 484 16 1 18,429 83 Corporate bonds — — — — — — — — Obligations of states and political subdivisions 83,510 1,460 74 36,225 1,526 32 119,735 2,986 $ 536,868 $ 8,736 215 $ 137,126 $ 5,459 85 $ 673,994 $ 14,195 The applicable date for determining when securities are in an unrealized loss position is December 31, 2022 2021 twelve December 31, 2022 2021 not 12 As shown in the tables above, at December 31, 2022 2021 1. not not not December 31, 2022 not may no December 31, 2022 not December 31, 2022 Mortgage-Backed Securities At December 31, 2022 not not not not December 31, 2022 The Company's mortgage-backed securities portfolio includes non-agency collateralized mortgage obligations with a fair value of $11.0 million which had unrealized losses of approximately $1.8 million at December 31, 2022 December 31, 2022 no not not Obligations of States and Political Subdivisions Unrealized losses on municipal bonds have not not not |
Note 4 - Restricted Equity Secu
Note 4 - Restricted Equity Securities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Restricted Equity Securities [Text Block] | ( 4 Restricted Equity Securities Restricted equity securities consists of stock of the FHLB of Cincinnati amounting to a December 31, 2022 2021 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 5 Premises and Equipment The detail of premises and equipment at December 31, 2022 2021 In Thousands 2022 2021 Land $ 20,822 $ 20,156 Buildings 46,579 46,112 Leasehold improvements 1,621 1,155 Furniture and equipment 14,858 14,705 Automobiles 373 241 Construction-in-progress 2,711 3,335 86,964 85,704 Less accumulated depreciation (24,933 ) (22,858 ) $ 62,031 $ 62,846 During 2022, 2021 2020 s of $379,000, $1,227,000 and $571,000, Depreciation expense w as $4,370,000, $ December 31, 2022 2021 2020 |
Note 6 - Goodwill
Note 6 - Goodwill | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | ( 6 Goodwill The Company's intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of two 50% 2005. In Thousands 2022 2021 Goodwill: Balance at January 1, $ 4,805 4,805 Goodwill acquired during year — — Impairment loss — — Balance at December 31, $ 4,805 4,805 |
Note 7 - Leases
Note 7 - Leases | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | ( 7 Leases Lessee Accounting The majority of leases in which the Company is the lessee are comprised of real estate property for branches and office space and are recorded as operating leases with terms extending beyond 2027. one 2022, 2031. not 12 The following table represents lease assets and lease liabilities as of December 31, 2022 December 31, 2021 Lease right-of-use assets Classification December 31, 2022 December 31, 2021 Operating lease right-of-use assets Other Assets $ 4,519 4,110 Finance lease right-of-use assets Other Assets 2,215 — Lease liabilities Classification December 31, 2022 December 31, 2021 Operating lease liabilities Other Liabilities $ 4,671 4,247 Finance lease liabilities Other Liabilities 2,281 — The total lease cost related to operating leases and short term leases is recognized on a straight-line basis over the lease term. For finance leases, right-of-use assets are amortized on a straight-line basis over the lease term and interest imputed on the lease liability is recognized using the effective interest method. The components of the Bank's total lease cost were as follows for the years ended December 31, 2022 and 2021 . In Thousands 2022 2021 Operating lease cost $ 563 550 Finance lease cost 159 — Short-term lease cost — 40 Net lease cost $ 722 590 The weighted average remaining lease term and weighted average discount rate for operating leases at December 31, 2022 2021 2022 2021 Operating Leases Weighted average remaining lease term (in years) 10.53 10.42 Weighted average discount rate 4.25 % 4.00 % The weighted average remaining lease term and weighted average discount rate for finance leases at December 31, 2022 2021 2022 2021 Finance Leases Weighted average remaining lease term (in years) 24.35 — Weighted average discount rate 2.90 % — % Cash flows related to operating and finance leases during the year ended December 31, 2022 2021 In Thousands 2022 2021 Operating cash flows related to operating leases $ 547 535 Operating cash flows related to finance leases 66 — Financing cash flows related to finance leases 26 — Future undiscounted lease payments for operating leases with initial terms of more than 12 December 31, 2022 2021 In Thousands 2022 2021 Operating Leases 2023 $ 595 544 2024 635 553 2025 642 566 2026 649 571 2027 657 576 Thereafter 2,686 2,392 Total undiscounted lease payments 5,864 5,202 Less: imputed interest (1,193 ) (955 ) Net lease liabilities $ 4,671 4,247 Future undiscounted lease payments for finance leases with initial terms of more than 12 December 31, 2022 2021 In Thousands 2022 2021 Finance Leases 2023 $ 96 — 2024 98 — 2025 101 — 2026 105 — 2027 108 — Thereafter 2,787 — Total undiscounted lease payments 3,295 — Less: imputed interest (1,014 ) — Net lease liabilities $ 2,281 — |
Note 8 - Mortgage Servicing Rig
Note 8 - Mortgage Servicing Rights | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | ( 8 Mortgage Servicing Rights During the first 2022 , third December 31, 2022 In Thousands December 31, 2022 2022 Mortgage loan portfolios serviced for: FHLMC $ 85,742 For the year ended December 31, 2022 In Thousands December 31, 2022 2022 Balance at beginning of period $ — Servicing rights retained from loans sold 1,597 Amortization (532 ) Valuation Allowance Provision — Balance at end of period $ 1,065 Fair value, end of period $ 1,252 The key data and assumptions used in estimating the fair value of the Company's mortgage servicing rights as of December 31, 2022 December 31, 2022 Prepayment speed 7.18 % Weighted-average life (in years) 8.98 Weighted-average note rate 4.34 % Weighted-average discount rate 9.00 % |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 9 Deposits Deposits at December 31, 2022 2021 In Thousands 2022 2021 Demand deposits $ 414,905 433,500 Savings accounts 338,963 296,434 Negotiable order of withdrawal accounts 1,070,629 1,030,743 Money market demand accounts 1,301,349 1,201,235 Certificates of deposit $250,000 or greater 230,408 123,297 Other certificates of deposit 471,249 399,850 Individual retirement accounts $250,000 or greater 7,727 8,618 Other individual retirement accounts 57,475 61,394 Total $ 3,892,705 3,555,071 Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2022 (In Thousands) Maturity Total 2023 $ 494,645 2024 153,385 2025 77,029 2026 15,993 2027 25,807 Thereafter — $ 766,859 The aggregate amount of overdrafts reclassified as loans receivable was $1,453,000 an December 31, 2022 2021 The aggregate balances of related party deposits at December 31, 2022 2021 e $9,743,000 and $5,806,000, respectively. As of December 31, 2022 2021 not |
Note 10 - Non-interest Income a
Note 10 - Non-interest Income and Non-interest Expense | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | ( 10 Non-Interest Income and Non-Interest Expense The significant components of non-interest income and non-interest expense for the years ended December 31, 2022 2021 2020 In Thousands 2022 2021 2020 Non-interest income: Service charges on deposits $ 7,382 6,137 5,659 Brokerage income 6,929 6,368 4,837 Debit and credit card interchange income, net 8,416 7,783 5,842 Other fees and commissions 1,653 1,446 1,404 BOLI and annuity earnings 1,346 1,109 959 Gain (loss) on sale of securities, net (1,620 ) 28 882 Fees and gains on sales of mortgage loans 2,973 9,997 9,560 Mortgage servicing income 111 — — Gain (loss) on sale of other real estate, net — (15 ) 658 Gain (loss) on sale of fixed assets, net 291 (43 ) (63 ) Gain (loss) on sale of other assets, net 8 6 (4 ) Other income (loss) (69 ) 34 61 $ 27,420 32,850 29,795 In Thousands 2022 2021 2020 Non-interest expense: Employee salaries and benefits $ 56,707 52,722 45,661 Equity-based compensation 1,864 1,428 1,180 Occupancy expenses 5,563 5,473 5,216 Furniture and equipment expenses 3,389 3,323 3,267 Data processing expenses 7,727 6,079 5,101 Advertising expenses 3,455 2,736 2,487 Accounting, legal & consulting expenses 1,019 988 909 FDIC insurance 1,527 1,130 598 Directors’ fees 650 686 634 Other operating expenses 11,208 10,927 11,426 $ 93,109 85,492 76,479 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 11 Income Taxes The components of the net deferred tax asset at December 31, 2022 2021 In Thousands 2022 2021 Deferred tax asset: Federal $ 40,690 11,604 State 13,095 3,613 53,785 15,217 Deferred tax liability: Federal (1,850 ) (1,822 ) State (612 ) (603 ) (2,462 ) (2,425 ) Net deferred tax asset $ 51,323 12,792 The tax effects of each type of significant item that gave rise to deferred tax assets (liabilities) at December 31, 2022 2021 In Thousands 2022 2021 Financial statement allowance for credit losses in excess of tax allowance $ 10,128 10,129 Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements (1,801 ) (2,098 ) Financial statement deduction for deferred compensation in excess of deduction for tax purposes 1,464 1,347 Financial statement income on FHLB stock dividends not recognized for tax purposes (327 ) (327 ) Financial statement off-balance sheet exposure allowance for credit losses in excess of tax allowance 1,604 — Unrealized loss on securities available-for-sale 39,073 2,235 Equity based compensation 1,224 1,028 Other items, net (42 ) 478 Net deferred tax asset $ 51,323 12,792 The components of income tax expense (benefit) at December 31, 2022, 2021 2020 In Thousands Federal State Total 2022 Current $ 15,096 2,011 17,107 Deferred (1,565 ) (486 ) (2,051 ) Total $ 13,531 1,525 15,056 2021 Current $ 13,580 2,084 15,664 Deferred (698 ) (234 ) (932 ) Total $ 12,882 1,850 14,732 2020 Current $ 11,383 1,539 12,922 Deferred (2,503 ) (801 ) (3,304 ) Total $ 8,880 738 9,618 A reconciliation of actual income tax expense of $15,056,000, $14,732,000 and $9,618,000 for the years ended December 31, 2022 2021 2020 2022 2021 2020 In Thousands 2022 2021 2020 Computed “expected” tax expense $ 14,301 13,473 10,103 State income taxes, net of Federal income tax benefit 1,117 1,584 552 Tax exempt interest, net of interest expense exclusion (274 ) (237 ) (245 ) Earnings on cash surrender value of life insurance (273 ) (205 ) (173 ) Expenses not deductible for tax purposes 23 12 14 Equity based compensation (55 ) (28 ) (6 ) Other 217 133 (627 ) $ 15,056 14,732 9,618 Total income tax expense (benefit) for 2022, 2021 2020 es $(423,000), $7,00 0 $231,000 As of December 31, 2022 2021 2020 not No valuation allowance for deferred tax assets was recorded at December 31, 2022 and 2021 as management believes it is more likely than not no The Company and Wilson Bank file income tax returns in the United States (“U.S.”), as well as in the State of Tennessee. The Company is no 2019. December 31, 2005 no |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 12 Commitments and Contingent Liabilities The Company is party to litigation and claims arising in the normal course of business. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from such litigation and claims will not At December 31, 2022 2021 aling $101,208,000 and $74,817,000. At December 31, 2022 and 2021 , respectively, there was no balance outstanding under these lines of credit. The Company also has a Cash Management Advance ("CMA") Line of Credit agreement. The CMA is a component of the Company's Blanket Agreement for advances with the FHLB of Cincinnati. The purpose of the CMA is to assist with short-term liquidity management. Under the terms of the CMA, the Company may tstanding under the CMA at December 31, 2022 December 31, 2021 |
Note 13 - Financial Instruments
Note 13 - Financial Instruments with Off-balance-sheet Risk | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | ( 13 Financial Instruments with Off-Balance-Sheet Risk The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist primarily of commitments to extend credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. In Thousands Contract or Notional Amount 2022 2021 Financial instruments whose contract amounts represent credit risk: Unused commitments to extend credit $ 1,217,963 1,147,654 Standby letters of credit 118,064 90,929 Total $ 1,336,027 1,238,583 Commitments to extend credit are agreements to lend to a customer as long as there is no may Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third one two at December 31, 2022 . The following table details activity in the allowance for credit losses on off-balance-sheet credit exposures for the years ended December 31, 2022 2021 2020 (In Thousands) 2022 2021 2020 Beginning balance, January 1 $ 955 693 434 Impact of adopting ASC 326 6,195 — — Credit loss expense (benefit) (1,014 ) 262 259 Ending balance, December 31, $ 6,136 955 693 The Bank originates residential mortgage loans, sells them to third may may not not 100% Each purchaser has specific guidelines and criteria for sellers of loans, and the risk of credit loss with regard to the principal amount of the loans sold is generally transferred to the purchasers upon sale. While the loans are sold without recourse, the purchase agreements require the Bank to make certain representations and warranties regarding the existence and sufficiency of file documentation and the absence of fraud by borrowers or other third To date, repurchase activity pursuant to the terms of these representations and warranties or due to early payoffs or payment defaults has been insignificant and has resulted in insignificant losses to the Company. Based on information currently available, management believes that the Bank does not may Various legal claims also arise from time to time in the normal course of business. In the opinion of management, the resolution of these claims outstanding at December 31, 2022 not |
Note 14 - Concentration of Cred
Note 14 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | ( 14 Concentration of Credit Risk Practically all of the Company’s loans, commitments, and commercial and standby letters of credit have been granted to customers in the Company’s market area. Practically all such customers are depositors of Wilson Bank. The concentrations of credit by type of loan are set forth in note 2 Interest bearing deposits totaling $2,299,000 were deposited with three commercial banks at December 31, 2022 one not Federal funds sold in the amount of $308,000 were deposited with one at December 31, 2022 |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | ( 15 Employee Benefit Plan Wilson Bank has in effect a 401 “401 18. 401 December 31, 2022 2021 2020 ed $3,120,000, and $2,926,000 401 |
Note 16 - Dividend Reinvestment
Note 16 - Dividend Reinvestment Plan | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Dividend Reinvestment Plan [Text Block] | ( 16 Dividend Reinvestment Plan Under the terms of the Company’s dividend reinvestment plan (the “DRIP”) holders of common stock may may f 2022 2021 180,424 2020 |
Note 17 - Regulatory Matters an
Note 17 - Regulatory Matters and Restrictions on Dividens | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 17 Regulatory Matters and Restrictions on Dividends Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The net unrealized gain or loss on available for sale securities is not December 31, 2022 Prompt corrective action regulations provide five not December 31, 2022 2021 no The Company's and Wilson Bank's actual capital amounts and ratios as of December 31, 2022 December 31, 2021 presented in the following tables. 2.5% not For Classification Under Minimum Corrective Action Plan Actual Capital Adequacy as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2022 Total capital to risk weighted assets: Consolidated $ 512,025 13.5 % $ 303,440 8.0 % $ 379,300 10.0 % Wilson Bank 509,169 13.4 303,334 8.0 379,168 10.0 Tier 1 capital to risk weighted assets: Consolidated 466,076 12.3 227,580 6.0 303,440 8.0 Wilson Bank 463,220 12.2 227,500 6.0 303,333 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 466,061 12.3 170,685 4.5 N/A N/A Wilson Bank 463,205 12.2 170,625 4.5 246,458 6.5 Tier 1 capital to average assets: Consolidated 466,076 11.2 166,712 4.0 N/A N/A Wilson Bank 463,220 11.1 166,648 4.0 208,310 5.0 For Classification Under Minimum Corrective Action Plan Actual Capital Adequacy as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2021 Total capital to risk weighted assets: Consolidated $ 455,813 13.9 % $ 261,404 8.0 % $ 326,755 10.0 % Wilson Bank 452,130 13.8 261,317 8.0 326,646 10.0 Tier 1 capital to risk weighted assets: Consolidated 415,226 12.7 196,052 6.0 261,403 8.0 Wilson Bank 411,543 12.6 195,987 6.0 261,316 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 415,226 12.7 147,039 4.5 N/A N/A Wilson Bank 411,543 12.6 146,990 4.5 212,319 6.5 Tier 1 capital to average assets: Consolidated 415,226 10.8 154,280 4.0 N/A N/A Wilson Bank 411,543 10.7 154,230 4.0 192,787 5.0 Dividend Restrictions may |
Note 18 - Salary Deferral Plans
Note 18 - Salary Deferral Plans | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Compensation Related Costs, General [Text Block] | ( 18 Salary Deferral Plans The Company provides some of its officers non-qualified pension benefits through an Executive Salary Continuation Plan ("the Plan") and Supplemental Executive Retirement Plan (SERP) Agreements ("SERP Agreements"). The Plan and SERP Agreements were established by the Board of Directors to reward executive management for past performance and to provide additional incentive to retain the service of executive management. The Plan and SERP Agreements generally provide executives with benefits of a portion of their salary beginning at retirement through life. As a result, the Company has accrued a liability for future obligations under the Plan and SERP Agreements. At December 31, 2022 2021 otaled $1,575,000 and December 31, 2022 2021 ents totaled $4,026,000 and d $789,000, $ December 31, 2022, 2021 2020 The Company has purchased life insurance policies to provide the benefits related to the Plan, which at December 31, 2022 and 2021 had an aggregate cash surrende r value of $6,306,000 and orce of $16,377,000 and The Company has also purchased bank owned life insurance policies on some of its officers. The insurance policies remain the sole property of the Company and are payable to the Company. The cash surrender value of the life insurance contracts totaled $51,701,000 an proximated $121,634,000 and December 31, 2022 2021 The Company has also purchased Flexible Premium Indexed Deferred Annuity Contracts (“Annuity Contracts”) to provide benefits related to the SERP Agreements. The Annuity Contracts remain the sole property of the Company and are payable to the Company. Included in other assets at December 31, 2022 2021 e of $24,135,000 and $23 ,861,000, |
Note 19 - Equity Incentive Plan
Note 19 - Equity Incentive Plan | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | ( 19 Equity Incentive Plan In April 2009, 2009 “2009 2009 April 14, 2009. 2009 2009 2009 2009 April 13, 2019, may 2009 2009 December 31, 2022 2009 During the second quarter of 2016, 2016 2016 January 25, 2016 April 12, 2016. September 26, 2016, 2016 “2016 not may 2016 December 31, 2022 , the Company 2016 December 31, 2022 2016 As of December 31, 2022 December 31, 2022 2021 e $3,020,000 and The fair value of each stock option and cash-settled SAR grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used for grants in 2022, 2021 2020 2022 2021 2020 Expected dividends 1.85 % 1.53 % 1.56 % Expected term (in years) 7.78 9.13 7.38 Expected stock price volatility 37 % 36 % 31 % Risk-free rate 3.03 % 1.45 % 0.52 % The expected stock price volatility is based on historical volatility adjusted for consideration of other relevant factors. The risk-free interest rates for periods within the contractual life of the awards are based on the U.S. Treasury yield curve in effect at the time of the grant. The dividend yield and forfeiture rate assumptions are based on the Company’s history and expectation of dividend payouts and forfeitures. A summary of the stock option and cash-settled SAR activity for 2022, 2021 2020 2022 2021 2020 Weighted Average Weighted Average Weighted Average Shares Exercise Price Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 357,254 $ 50.18 284,591 $ 43.71 273,039 $ 41.19 Granted 117,665 64.13 121,830 61.48 43,833 55.72 Exercised (58,841 ) 43.27 (48,867 ) 40.76 (24,881 ) 37.84 Forfeited or expired (1,300 ) 45.50 (300 ) 37.60 (7,400 ) 41.70 Outstanding at end of year 414,778 $ 55.13 357,254 $ 50.18 284,591 $ 43.71 Options and cash-settled SARs exercisable at year end 167,918 $ 46.09 159,560 $ 41.93 151,695 $ 40.89 The weighted average fair value at the grant date of options and cash-settled SARs granted during the years 2022, 2021 2020 was 2022, 2021 2020 $962,000 and $463,000, The following table summarizes information about outstanding and exercisable stock options and cash-settled SARs at December 31, 2022 Options and Cash-Settled SARs Outstanding Options and Cash-Settled SARs Exercisable Range of Exercise Prices Number Outstanding at 12/31/22 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Number Outstanding at 12/31/22 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) $32.81 - $51.00 132,266 $ 41.55 4.00 123,166 $ 41.33 3.96 $51.25 - $66.70 282,512 $ 61.49 8.48 44,752 $ 59.09 7.00 414,778 167,918 Aggregate intrinsic value (in thousands) $ 5,275 $ 3,658 As of December 31, 2022 al unrecognized cost related to non-vested share-based compensation arrangements granted under the Company’s equity incentive plans. The cost is expected to be recognized over a weighted-average period A summary of restricted stock shares activity is as follows: Restricted Stock Shares Shares Weighted Average Grant-Date Fair Value Outstanding at December 31, 2021 1,250 $ 62.10 Granted 450 66.70 Vested (625 ) 62.10 Forfeited — — Outstanding at December 31, 2022 1,075 $ 64.03 The shares vest over various time periods. As of December 31, 2022 , there was $60,000 of unrecognized compensation cost related to non-vested restricted share awards. The cost is expected to be charged over a weighted-average period of 1.79 years for the restricted stock share awards. As of December 31, 2022 , the fair value of share awards vested totaled $42,000. |
Note 20 - Earnings Per Share
Note 20 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 20 Earnings Per Share The computation of basic earnings per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share for the Company begins with the basic earnings per share plus the effect of common shares contingently issuable from stock options. The following is a summary of the components comprising basic and diluted earnings per share (“EPS”): Years Ended December 31, 2022 2021 2020 Basic EPS Computation: Numerator – Earnings available to common stockholders $ 53,042 49,426 38,492 Denominator – Weighted average number of common shares outstanding 11,377,617 11,131,897 10,927,065 Basic earnings per common share $ 4.66 4.44 3.52 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 53,042 49,426 38,492 Denominator – Weighted average number of common shares outstanding 11,377,617 11,131,897 10,927,065 Dilutive effect of stock options and restricted stock shares 31,307 31,059 26,681 11,408,924 11,162,956 10,953,746 Diluted earnings per common share $ 4.65 4.43 3.51 |
Note 21 - Derivatives
Note 21 - Derivatives | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ( 21 Derivatives Derivatives Designated as Fair Value Hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. The Company utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate loans. The hedging strategy on loans converts the fixed interest rates to LIBOR-based variable interest rates, though in 2023, During the second 2020, one 1 A summary of the Company's fair value hedge relationships as of December 31, 2022 December 31, 2021 December 31, 2022 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 7.42 0.65 % 1 month LIBOR $ 30,000 4,520 December 31, 2021 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 8.42 0.65 % 1 month LIBOR $ 30,000 1,192 The effects of fair value hedge relationships reported in interest income on loans on the consolidated statements of income for the twelve December 31, 2022 2021 Twelve Months Ended December 31, Gain (loss) on fair value hedging relationship 2022 2021 Interest rate swap agreements - loans: Hedged items $ (3,265 ) (1,125 ) Derivative designated as hedging instruments 3,328 1,243 The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at December 31, 2022 December 31, 2021 Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Line item on the balance sheet December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Loans $ 25,452 28,717 (4,548 ) (1,283 ) Mortgage Banking Derivatives Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third December 31, 2022 December 31, 2021 roximately $6,923,000 and $20,340,000, respectively, of interest rate lock commitments and approximately $6,250,000 and $20,500,000, respectively, of forward commitments for the future delivery of residential mortgage loans. The fair value of these mortgage banking derivatives was reflected by derivative assets of $123,000 and $657,000 and derivative assets of $62,000 and $6,000, respectively, at December 31, 2022 and December 31, 2021 . Changes in the fair values of these mortgage-banking derivatives are included in net gains on sale of loans. The net gains (losses) relating to free-standing derivative instruments used for risk management is summarized below: In Thousands 2022 2021 Interest rate contracts for customers $ (535 ) (57 ) Forward contracts related to mortgage loans held for sale and interest rate contracts 56 163 The following table reflects the amount and fair value of mortgage banking derivatives included in the consolidated balance sheet as of December 31, 2022 December 31, 2021 In Thousands 2022 2021 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 6,923 123 20,340 657 Forward contracts related to mortgage loans held-for-sale 6,250 62 20,500 6 |
Note 22 - Disclosures About Fai
Note 22 - Disclosures About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 22 Disclosures About Fair Value of Financial Instruments Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820” not not Valuation Hierarchy FASB ASC 820 three three • Level 1 • Level 2 • Level 3 A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. Asset Securities available-for-sale - 1 1 not 2 3 third third Hedged loans - Collateral dependent loans - third 3 Other real estate owned - 3 Mortgage loans held for sale 2 Derivative instruments - 2 Other investments - third 3 not not The following tables present the financial instruments carried at fair value as of December 31, 2022 December 31, 2021 820 Measured on a Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Hedged Loans $ 25,452 — 25,452 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,497 6,497 — — U.S. Government sponsored enterprises 145,212 — 145,212 — Mortgage-backed securities 444,438 — 444,438 — Asset-backed securities 45,250 — 45,250 — Corporate bonds 2,403 — 2,403 — State and municipal securities 179,012 — 179,012 — Total investment securities available-for-sale 822,812 6,497 816,315 — Mortgage loans held for sale 3,355 — 3,355 — Derivative instruments 4,705 — 4,705 — Other investments 1,965 — — 1,965 Total assets $ 858,289 6,497 849,827 1,965 Derivative instruments $ — — — — Total liabilities $ — — — — Measured on a Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2021 Hedged Loans $ 28,717 — 28,717 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 7,221 7,221 — — U.S. Government sponsored enterprises 159,230 — 159,230 — Mortgage-backed securities 461,777 — 461,777 — Asset-backed securities 46,713 — 46,713 — Corporate bonds 2,575 — 2,575 — State and municipal securities 220,069 — 220,069 — Total investment securities available-for-sale 897,585 7,221 890,364 — Mortgage loans held for sale 11,843 — 11,843 — Derivative instruments 1,855 — 1,855 — Other investments 2,034 — — 2,034 Total assets $ 942,034 7,221 932,779 2,034 Derivative instruments $ — — — — Total liabilities $ — — — — Measured on a Non-Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Other real estate owned $ — — — — Collateral dependent loans (¹) 638 — — 638 Total $ 638 — — 638 December 31, 2021 Other real estate owned $ — — — — Impaired loans, net (¹) 668 — — 668 Total $ 668 — — 668 ( 1 As of December 31, 2022 no December 31, 2021 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 December 31, 2022 2021 Valuation Techniques (2) Significant Unobservable Inputs Range (Weighted Average) Collateral dependent loans Appraisal Estimated costs to sell 10 % Other real estate owned Appraisal Estimated costs to sell 10 % ( 1 The fair value is generally determined through independent appraisals of the underlying collateral, which may 3 not not In the case of its investment securities portfolio, the Company monitors the valuation technique utilized by various pricing agencies to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the twelve December 31, 2022 1, 2 3. The table below includes a rollforward of the balance sheet amounts for the year ended December 31, 2022 2021 3 3 3 3 For the Year Ended December 31, 2022 2021 Other Assets Other Assets Fair value, January 1 $ 2,034 $ — Total realized gains (losses) included in income (69 ) 34 Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31 — — Purchases, issuances and settlements, net — 2,000 Transfers out of Level 3 — — Fair value, December 31 $ 1,965 $ 2,034 Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 $ (69 ) $ 34 The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments that are not not December 31, 2022 December 31, 2021 not may Cash and cash equivalents 1. Loans For variable-rate loans that reprice frequently and have no Mortgage servicing rights Deposits and Federal Home Loan Bank advances Off-balance sheet instruments not The following table presents the carrying amounts, estimated fair value and placement in the fair value hierarchy of the Company’s financial instruments at December 31, 2022 December 31, 2021 (in Thousands) Carrying/Notional Amount Estimated Fair Value (¹) Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Financial assets: Cash and cash equivalents $ 104,789 104,789 104,789 — — Loans, net 3,088,344 2,992,161 — — 2,992,161 Mortgage servicing rights 1,065 1,252 — 1,252 — Financial liabilities: Deposits 3,892,705 3,210,581 — — 3,210,581 December 31, 2021 Financial assets: Cash and cash equivalents $ 453,418 453,418 453,418 — — Loans, net 2,444,282 2,439,539 — — 2,439,539 Financial liabilities: Deposits 3,555,071 3,227,520 — — 3,227,520 ( 1 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. |
Note 23 - Wilson Bank Holding C
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 23 Wilson Bank Holding Company - Parent Company Financial Information WILSON BANK HOLDING COMPANY (Parent Company Only) Balance Sheets December 31, 2022 2021 Dollars In Thousands 2022 2021 ASSETS Cash $ 4,241 * 5,113 * Investment in wholly-owned commercial bank subsidiary 357,596 * 410,034 * Deferred income taxes 1,223 1,028 Refundable income taxes 538 362 Total assets $ 363,598 416,537 LIABILITIES AND STOCKHOLDERS’ EQUITY Other liabilities $ 3,146 2,820 Total liabilities 3,146 2,820 Stockholders’ equity: Common stock, par value $ 2.00 50,000,000 11,472,181 11,201,504 22,944 22,403 Additional paid-in capital 122,298 105,177 Retained earnings 325,625 292,452 Noncontrolling interest in consolidated subsidiary 15 — Accumulated other comprehensive losses, net of taxes of $ 39,073 2,235 (110,430 ) (6,315 ) Total stockholders’ equity 360,452 413,717 Total liabilities and stockholders’ equity $ 363,598 416,537 * Eliminated in consolidation. WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Earnings Three Years Ended December 31, 2022 Dollars In Thousands 2022 2021 2020 Income: Dividends from commercial bank subsidiary $ 4,200 4,300 5,000 Other income — — 61 4,200 4,300 5,061 Expenses: Directors’ fees 355 341 335 Other 2,187 1,575 1,264 2,542 1,916 1,599 Income before Federal income tax benefits and equity in undistributed earnings of Wilson Bank 1,658 2,384 3,462 Federal income tax benefits 733 475 471 2,391 2,859 3,933 Equity in undistributed earnings of Wilson Bank 50,651 * 46,567 * 34,559 * Net earnings $ 53,042 49,426 38,492 * Eliminated in consolidation. WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Cash Flows Three Years Ended December 31, 2022 Increase (Decrease) in Cash and Cash Equivalents Dollars In Thousands 2022 2021 2020 Cash flows from operating activities: Net earnings $ 53,042 49,426 38,492 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of commercial bank subsidiary (54,851 ) (50,867 ) (39,559 ) Decrease (increase) in refundable income taxes (176 ) (120 ) (110 ) Increase in deferred taxes (195 ) (174 ) (229 ) Share based compensation expense 1,866 1,428 1,180 Increase in other liabilities 14 113 — Total adjustments (53,342 ) (49,620 ) (38,718 ) Net cash used in operating activities (300 ) (194 ) (226 ) Cash flows from investing activities: Dividends received from commercial bank subsidiary 4,200 4,300 5,000 Net cash provided by investing activities 4,200 4,300 5,000 Cash flows from financing activities: Payments made to stock appreciation rights holders (644 ) (515 ) (53 ) Dividends paid (20,880 ) (14,909 ) (13,013 ) Proceeds from sale of stock pursuant to dividend reinvestment plan 16,117 11,188 10,056 Proceeds from exercise of stock options 635 862 718 Net cash used in financing activities (4,772 ) (3,374 ) (2,292 ) Net increase (decrease) in cash and cash equivalents (872 ) 732 2,482 Cash and cash equivalents at beginning of year 5,113 4,381 1,899 Cash and cash equivalents at end of year $ 4,241 5,113 4,381 |
Note 24 - Quarterly Financial D
Note 24 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | ( 24 Quarterly Financial Data (Unaudited) Selected quarterly results of operations for the four December 31 (In Thousands, except per share data) 2022 2021 2020 Fourth Third Second First Fourth Third Second First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Interest income $ 44,920 42,024 37,097 33,499 $ 33,810 33,719 31,570 30,742 $ 30,351 30,961 31,569 30,087 Interest expense 7,855 3,894 2,240 2,144 2,507 2,840 3,031 3,258 4,189 4,324 4,510 5,196 Net interest income 37,065 38,130 34,857 31,355 31,303 30,879 28,539 27,484 26,162 26,637 27,059 24,891 Provision for credit losses 2,596 2,543 1,625 1,892 131 130 55 827 3,065 1,038 4,124 1,469 Earnings before income taxes 15,342 19,706 18,484 14,544 17,512 17,405 14,449 14,792 10,771 14,669 11,313 11,357 Net earnings attributable to Wilson Bank Holding Company 12,340 15,190 14,139 11,373 13,801 13,342 11,139 11,144 8,902 11,532 9,027 9,031 Basic earnings per common share 1.08 1.33 1.25 1.01 1.23 1.19 1.00 1.01 0.81 1.05 0.83 0.83 Diluted earnings per common share 1.07 1.33 1.24 1.00 1.23 1.19 1.00 1.00 0.81 1.05 0.83 0.83 |
Note 25 - Revenue From Contract
Note 25 - Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 25 Revenue from Contracts with Customers All of the Company’s revenue from contracts with customers in the scope of ASC 606 606 Years ended December 31, 2022 2021 2020 (dollars in thousands) Fees and gains on sales of mortgage loans (1) $ 2,973 $ 9,997 $ 9,560 Service charges on deposits 7,382 6,137 5,659 Debit and credit card interchange income, net 8,416 7,783 5,842 Brokerage income 6,929 6,368 4,837 BOLI and annuity earnings (1) 1,346 1,109 959 Security gain (loss), net (1) (1,620 ) 28 882 Other non-interest income 1,994 1,428 2,056 Total non-interest income $ 27,420 $ 32,850 $ 29,795 ( 1 Not 606. A description of the Company's revenue streams accounted for under ASC Topic 606 Service charges on deposit accounts - The Company earns fees on its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM usage fees, stop payment charges, statement rendering, and ACH fees are recognized at the time the transaction is executed and the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Account maintenance fees are recognized in the same month the Company earns and satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Debit and credit card interchange income, net - The Company earns interchange fees from debit and credit cardholder transactions conducted through the Mastercard payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Certain expenses directly associated with the debit and credit cards are recorded on a net basis with the interchange income. Brokerage income - The Company earns fees from investment brokerage services provided to its customers by a third third 1 third 2 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | (a) Principles of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, Wilson Bank, and Wilson Bank's 51% owned subsidiary, Encompass Home Lending, LLC ("Encompass"). On June 1, 2022 , |
Nature of Business [Policy Text Block] | (b) Nature of Operations Wilson Bank operates under a state bank charter and provides full banking services. As a Tennessee state-chartered bank that is not areas served by Wilson Bank include Wilson County, DeKalb County, Rutherford County, Smith County, Trousdale County, Putnam County, Sumner County, Davidson County and Williamson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at th e main office and twenty-eight |
Use of Estimates, Policy [Policy Text Block] | (c) Use of Estimates In preparing consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and 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 relate to the determination of the allowance for credit losses - loans and off-balance sheet credit exposures, 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. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | (d) Significant Group Concentrations of Credit Risk Most of the Company’s activities are with customers located within Middle Tennessee. The types of securities in which the Company invests are described in note 3. 2. not one 2. |
Financing Receivable [Policy Text Block] | (e) Loans The Company grants mortgage, commercial and consumer loans to customers. A substantial portion of the loan portfolio is represented by mortgage loans throughout Middle Tennessee. The ability of the Company’s debtors to honor their contracts is dependent upon the real estate and general economic conditions in this area. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for unearned income, the allowance for credit losses, and any unamortized deferred fees or costs on originated loans, and premiums or discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized on a straight line basis over the respective term of the loan. As part of its routine credit monitoring process, the Company performs regular credit reviews of the loan portfolio and loans receive risk ratings by the assigned credit officer, which are subject to validation by the Company's independent loan review department. Risk ratings are categorized as pass, special mention, substandard or doubtful. The Company believes that its categories follow those outlined by the FDIC, Wilson Bank's primary federal regulator. Generally the accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 no 180 All interest accrued but not |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | (f) Allowance for Credit Losses - Loans On January 1, 2022 , 2016 13 , 326 326 326” 326 326 not not Effective January 1, 2022, 326 January 1, 2022 326 In connection with the adoption of ASC 326 , The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326 may not not The Company’s discounted cash flow methodology incorporates a probability of default and loss given default model, as well as expectations of future economic conditions, using reasonable and supportable forecasts. Together, the probability of default and loss given default model with the use of reasonable and supportable forecasts generate estimates for cash flows expected and not third eight four may For segments where the discounted cash flow methodology is not The estimated credit losses for all loan segments are adjusted for changes in qualitative factors not may 1. Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not 2. Changes in international, national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. 3. Changes in the nature and volume of the portfolio and in the terms of loans. 4. Changes in the experience, ability, and depth of lending management and other relevant staff. 5. Changes in the volume and severity of past-due loans, the volume of non-accrual loans, and the volume and severity of adversely classified or graded loans. 6. Changes in the quality of the Company's loan review system. 7. Changes in the value of underlying collateral for collateral-dependent loans. 8. The existence and effect of any concentrations of credit, and changes in the level of such concentrations. 9. The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Company’s existing portfolio. The qualitative allowance allocation, as determined by the processes noted above, is increased or decreased for each loan segment based on the assessment of these various qualitative factors. Loans that do not not 326 In assessing the adequacy of the allowance for credit losses, the Company considers the results of the Company's ongoing independent loan review process. The Company undertakes this process both to ascertain those loans in the portfolio with elevated credit risk and to assist in its overall evaluation of the risk characteristics of the entire loan portfolio. Its loan review process includes the judgment of management, independent internal loan reviewers and reviews that may third In accordance with CECL, losses are estimated over the remaining contractual terms of loans, adjusted for prepayments and curtailment. The contractual term excludes expected extensions, renewals and modifications unless management has a reasonable expectation at the reporting date that a TDR will be executed or such renewals, extensions or modifications are included in the original loan agreement and are not Credit losses are estimated on the amortized cost basis of loans, which includes the principal balance outstanding and deferred loan fees and costs. While management utilizes its best judgment and information available, the ultimate appropriateness of the allowance is dependent upon a variety of factors beyond our control, including the performance of our loan portfolio, the economy, changes in interest rates and the view of the regulatory authorities toward loan classifications. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | (g) Allowance for Loan Losses (Allowance) Prior to the Adoption of FASB ASC 326 January 1, 2022 , two 450 20, 310 10 35, 450 20 310 10 35 The allowance allocation began with a process of estimating the probable losses in each of the twelve twenty The estimated loan loss allocation for all twelve not not twelve We then tested the resulting allowance by comparing the balance in the allowance to industry and peer information. Our management then evaluated the result of the procedures performed, including the result of our testing, and concluded on the appropriateness of the balance of the allowance in its entirety. The board of directors reviewed and approved the assessment prior to the filing of quarterly and annual financial information. A loan was impaired when, based on current information and events, it was probable that we would be unable to collect all amounts due according to the contractual terms of the loan agreement. Collection of all amounts due according to the contractual terms means that both the interest and principal payments of a loan would be collected as scheduled in the loan agreement. An impairment allowance was recognized if the fair value of the loan was less than the recorded investment in the loan (recorded investment in the loan was the principal balance plus any accrued interest, net of deferred loan fees or costs and unamortized premium or discount). The impairment was recognized through the allowance. Loans that were impaired were recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate, or if the loan was collateral dependent, impairment measurement was based on the fair value of the collateral, less estimated disposal costs. If the measure of the impaired loan was less than the recorded investment in the loan, the Company recognized an impairment by creating a valuation allowance with a corresponding charge to the provision for loan losses or by adjusting an existing valuation allowance for the impaired loan with a corresponding charge or credit to the provision for loan losses. Management believes it followed appropriate accounting and regulatory guidance in determining impairment and accrual status of impaired loans. |
Allowance for Credit Losses, Off-balance Sheet Credit Exposures [Policy Text Block] | (h) 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 , No Estimating credit losses on amounts expected to be funded uses the same methodology as described for loans in note 1 |
Investment, Policy [Policy Text Block] | (i) Debt Securities Certain debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity” and recorded at amortized cost. Trading securities are recorded at fair value with changes in fair value included in earnings. Securities not may A debt security is placed on nonaccrual status at the time any principal and interest payments become 90 not No securities have been classified as trading securities or held-to-maturity securities at December 31, 2022 2021 |
Allowance for Credit Losses, Securities Available for Sale [Policy Text Block] | (j) 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 not not |
Equity Securities and Equity Securities Without Readily Determinable Fair Value [Policy Text Block] | (k) Equity Securities Equity securities are carried at fair value, with changes in fair value reported in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block] | (l) Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not |
Federal Home Loan Bank Stock [Policy Text Block] | (m) Federal Home Loan Bank (FHLB) Stock The Company is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors and may |
Financing Receivable, Held-for-sale [Policy Text Block] | (n) Loans Held for Sale Mortgage loans held for sale are carried at fair value. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. |
Property, Plant and Equipment, Policy [Policy Text Block] | (o) Premises and Equipment Premises and equipment are stated at cost. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the related assets ranging from 3 to 40 years. Gains or losses realized on items retired and otherwise disposed of are credited or charged to operations and cost and related accumulated depreciation are removed from the asset and accumulated depreciation accounts. Expenditures for major renovations and improvements of premises and equipment are capitalized and those for maintenance and repairs are charged to earnings as incurred. |
Real Estate, Policy [Policy Text Block] | (p) Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less the estimated cost to sell at the date the Company acquires the property, establishing a new cost basis. Subsequent to their acquisition by the Company, valuations of these assets are periodically performed by management, and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance [i.e. any direct write-downs] |
Goodwill and Intangible Assets, Policy [Policy Text Block] | (q) Goodwill and Other Intangible Assets Goodwill arises from business combinations and is determined as the excess of fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a business combination and determined to have an indefinite useful life are not selected September 30th September 30, 2022. |
Lessee, Leases [Policy Text Block] | (r) Leases Leases are classified as operating or finance leases at the lease commencement date. The Company leases certain locations and equipment. The Company records leases on the balance sheet in the form of a lease liability for the present value of future minimum payments under the lease terms and right-of-use asset equal to the lease liability adjusted for items such as deferred or prepaid rent, lease incentives, and any impairment of the right-of-use asset. The discount rate used in determining the lease liability is based upon incremental borrowing rates the Company could obtain for similar loans as of the date of commencement or renewal. The Company does not one At lease inception, the Company determines the lease term by considering the minimum lease term and all optional renewal periods that the Company is reasonably certain to renew. The lease term is also used to calculate straight-line rent expense. The depreciable life of leasehold improvements is limited by the estimated lease term, including renewals if they are reasonably certain to be renewed. The Company’s leases do not Operating lease expense consists of a single lease cost allocated over the remaining lease term on a straight-line bases, variable lease payments not |
Mortgage Servicing Rights [Policy Text Block] | (s) Mortgage Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no may Servicing fee income, which is reported on the income statement as mortgage servicing income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against servicing fee income. Servicing fees totaled $111,000 for the year ended December 31, 2022. not |
Cash and Cash Equivalents, Policy [Policy Text Block] | (t) Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, interest-bearing deposits with maturities fewer than 90 one |
Property, Plant and Equipment, Impairment [Policy Text Block] | (u) Long-Term Assets Premises and equipment, intangible assets, and other long-term assets are reviewed for impairment when events indicate their carrying amount may not |
Bank Owned Life Insurance [Policy Text Block] | (v) Bank Owned Life Insurance The Bank has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. |
Income Tax, Policy [Policy Text Block] | (w) Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance (FASB ASC 740, Income Taxes The income tax accounting guidance results in two Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, not" 50 not 50 not not not not The Company recognizes interest and penalties on income taxes as a component of income tax expense. |
Derivatives, Policy [Policy Text Block] | ( x Derivatives Mortgage Banking Derivatives Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. The fair value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is adjusted for the expected exercise of the commitment before the loan is funded. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest rate on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in the fair values of these derivatives are included in net gains on sale of mortgage loans. Fair Value Hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. The Company utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate loans. The hedging strategy on loans converts the fixed interest rates to LIBOR-based variable interest rates. These derivatives are designated as partial term hedges of selected cash flows covering specified periods of time prior to the maturity dates of the hedged loans. |
Share-Based Payment Arrangement [Policy Text Block] | (y) Stock-Based Compensation Stock compensation accounting guidance (FASB ASC 718, Compensation—Stock Compensation” not not The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and cash-settled SARs. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | (z) Retirement Plans Employee 401 |
Advertising Cost [Policy Text Block] | (aa) Advertising Costs Advertising costs are expensed as incurred by the Company and totaled $3,455,000, $2,736,000 and $2,487,000 for 2022, 2021 2020 |
Earnings Per Share, Policy [Policy Text Block] | (bb) Earnings Per Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may |
Comprehensive Income, Policy [Policy Text Block] | (cc) Comprehensive Income (Loss) Comprehensive income (loss) consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale, net of taxes, which are also recognized as separate components of equity. |
Loss Contingencies, Policies [Policy Text Block] | (dd) Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | (ee) Restrictions on Cash Cash on hand or on deposit with the Federal Reserve Bank was required to meet regulatory reserve and clearing requirements |
Segment Reporting, Policy [Policy Text Block] | (ff) Segment Reporting Management analyzes the operations of the Company assuming one |
Fair Value of Financial Instruments, Policy [Policy Text Block] | (gg) Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in note 22 |
Reclassification, Comparability Adjustment [Policy Text Block] | (hh) Reclassification Certain reclassifications have been made to the 2021 2020 2022 |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | (ii) Off-Balance-Sheet Financial Instruments In the ordinary course of business, Wilson Bank has entered into off-balance-sheet financial instruments consisting of commitments to extend credit, commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they are funded or related fees are incurred or received. |
Subsequent Events, Policy [Policy Text Block] | (jj) Subsequent Events The Company has evaluated subsequent events for recognition and disclosure thr ough March 1, 2023, |
New Accounting Pronouncements, Policy [Policy Text Block] | (kk) Accounting Standard Updates ASU 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 January 1, 2022 2016 13, 2 ASU 2020 04, Reference Rate Reform (Topic 848 March 2020 , March 12, 2020 December 31, 2022 . ASU 2022 06, Reference Rate Reform (Topic 848 848. December 2022, 2020 04 December 31, 2022 December 31, 2024. 2022 August 2023 . ASU 2022 01, Derivatives and Hedging (Topic 815 2022 01 one December 15, 2022. 2022 01 not ASU 2022 02, Financial Instruments - Credit Losses (Topic 326 2022 02 326. 326 20. n those fiscal years, beginning after December 15, 2022 . As permitted, we elected to partially adopt this ASU with regards to reporting gross charge-offs by vintage. We will adopt the TDR guidance beginning January 1, 2023. Other than those previously discussed, there were no |
Note 2 - Loans and Allowance _2
Note 2 - Loans and Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | In Thousands 2022 2021 Residential 1-4 family real estate $ 854,970 $ 689,579 Commercial and multi-family real estate 1,064,297 908,673 Construction, land development and farmland 879,528 612,659 Commercial, industrial and agricultural 124,603 118,155 1-4 family equity lines of credit 151,032 92,229 Consumer and other 93,332 74,643 Total loans before net deferred loan fees 3,167,762 2,495,938 Net deferred loan fees (14,153 ) (12,024 ) Total loans 3,153,609 2,483,914 Less: Allowance for credit losses (39,813 ) (39,632 ) Net loans $ 3,113,796 2,444,282 |
Financing Receivable, Nonaccrual [Table Text Block] | In Thousands 2022 2021 Residential 1-4 family real estate $ — $ — Commercial and multi-family real estate — — Construction, land development and farmland — — Commercial, industrial and agricultural — — 1-4 family equity lines of credit — — Consumer and other — — Total $ — $ — |
Financing Receivable Credit Quality Indicators [Table Text Block] | In Thousands Revolving 2022 2021 2020 2019 2018 Prior Loans Total December 31, 2022 Residential 1-4 family real estate: Pass $ 288,041 262,690 106,107 61,984 29,526 83,503 17,751 849,602 Special mention 245 300 885 62 115 1,955 349 3,911 Substandard — — — 131 — 1,326 — 1,457 Total Residential 1-4 family real estate $ 288,286 262,990 106,992 62,177 29,641 86,784 18,100 854,970 Residential 1-4 family real estate: Current-period gross charge-offs $ — — — — — 8 — 8 Commercial and multi-family real estate: Pass $ 269,129 246,265 161,326 107,908 74,494 168,541 36,342 1,064,005 Special mention — — 162 — — 40 — 202 Substandard — — — — — 90 — 90 Total Commercial and multi-family real estate $ 269,129 246,265 161,488 107,908 74,494 168,671 36,342 1,064,297 Commercial and multi-family real estate: Current-period gross charge-offs $ — — — — — — — — Construction, land development and farmland: Pass $ 364,681 237,051 90,341 9,648 5,212 9,445 163,076 879,454 Special mention — — — — — 60 — 60 Substandard — — — — — 14 — 14 Total Construction, land development and farmland $ 364,681 237,051 90,341 9,648 5,212 9,519 163,076 879,528 Construction, land development and farmland: Current-period gross charge-offs $ — — — — — 1 — 1 Commercial, industrial and agricultural: Pass $ 39,222 10,812 15,743 20,441 5,062 4,641 28,567 124,488 Special mention — 44 17 — — 47 — 115 Substandard — — — — — — — — Total Commercial, industrial and agricultural $ 39,229 10,856 15,760 20,441 5,062 4,688 28,567 124,603 Commercial, industrial and agricultural: Current-period gross charge-offs $ 21 — — — — — — 21 1-4 family equity lines of credit: Pass $ — — — — — — 150,849 150,849 Special mention — — — — — — 67 67 Substandard — — — — — — 116 116 Total 1-4 family equity lines of credit $ — — — — — — 151,032 151,032 1-4 family equity lines of credit: Current-period gross charge-offs $ — — — — — — — — Consumer and other: Pass $ 28,487 11,163 18,075 5,995 345 6,757 22,166 92,988 Special mention 74 130 20 2 — — — 226 Substandard 74 19 13 — 11 1 — 118 Total Consumer and other $ 28,635 11,312 18,108 5,997 356 6,758 22,166 93,332 Consumer and other: Current-period gross charge-offs $ 66 74 41 1 — — 1,345 1,527 In Thousands 2022 2021 2020 2019 2018 Prior Revolving Loans Total December 31, 2022 Pass $ 989,560 767,981 391,592 205,976 114,639 272,887 418,751 3,161,386 Special mention 326 474 1,084 64 115 2,102 416 4,581 Substandard 74 19 13 131 11 1,431 116 1,795 Total $ 989,960 768,474 392,689 206,171 114,765 276,420 419,283 3,167,762 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 Family Equity Lines of Credit Consumer and Other Total Credit Risk Profile by Internally Assigned Grade December 31, 2021 Pass $ 682,527 908,409 612,537 118,058 92,208 74,513 2,488,252 Special mention 5,566 — 93 96 11 89 5,855 Substandard 1,486 264 29 1 10 41 1,831 Total $ 689,579 908,673 612,659 118,155 92,229 74,643 2,495,938 |
Financing Receivable, Past Due [Table Text Block] | In Thousands 30-59 Days Past Due 60-89 Days Past Due Nonaccrual and Greater Than 89 Days Total Nonaccrual and Past Due Current Total Loans Recorded Investment Greater Than 89 Days and Accruing December 31, 2022 Residential 1-4 family real estate $ 2,046 1,080 426 3,552 851,418 854,970 $ 426 Commercial and multi-family real estate 397 1,626 400 2,423 1,061,874 1,064,297 400 Construction, land development and farmland 591 — — 591 878,937 879,528 — Commercial, industrial and agricultural 49 62 — 111 124,492 124,603 — 1-4 family equity lines of credit 74 77 — 151 150,881 151,032 — Consumer and other 403 184 43 630 92,702 93,332 43 Total $ 3,560 3,029 869 7,458 3,160,304 3,167,762 $ 869 December 31, 2021 Residential 1-4 family real estate $ 2,072 169 357 2,598 686,981 689,579 $ 357 Commercial and multi-family real estate — — — — 908,673 908,673 — Construction, land development and farmland 1,154 215 — 1,369 611,290 612,659 — Commercial, industrial and agricultural 58 81 — 139 118,016 118,155 — 1-4 family equity lines of credit 170 — 9 179 92,050 92,229 9 Consumer and other 288 99 23 410 74,233 74,643 23 Total $ 3,742 564 389 4,695 2,491,243 2,495,938 $ 389 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2022 Allowance for credit losses: Beginning balance $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Impact of adopting ASC 326 (3,393 ) (3,433 ) (266 ) 219 (324 ) (367 ) (7,564 ) Provision 1,353 1,886 3,795 (117 ) 396 1,343 8,656 Charge-offs (8 ) — (1 ) (21 ) — (1,527 ) (1,557 ) Recoveries 116 — 20 27 — 483 646 Ending balance $ 7,310 15,299 13,305 1,437 1,170 1,292 39,813 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2021 Allowance for loan losses: Beginning balance $ 8,203 18,343 8,090 1,391 997 1,515 38,539 Provision 971 (1,497 ) 1,296 (35 ) 101 307 1,143 Charge-offs — — (23 ) (33 ) — (992 ) (1,048 ) Recoveries 68 — 394 6 — 530 998 Ending balance $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Ending balance individually evaluated for impairment — — — — — — — Ending balance collectively evaluated for impairment $ 9,242 16,846 9,757 1,329 1,098 1,360 39,632 Loans: Ending balance $ 689,579 908,673 612,659 118,155 92,229 74,643 2,495,938 Ending balance individually evaluated for impairment $ 134 531 — — — — 665 Ending balance collectively evaluated for impairment $ 689,445 908,142 612,659 118,155 92,229 74,643 2,495,273 In Thousands Residential 1-4 Family Real Estate Commercial and Multi-family Real Estate Construction, Land Development and Farmland Commercial, Industrial and Agricultural 1-4 family Equity Lines of Credit Consumer and Other Total December 31, 2020 Allowance for loan losses: Beginning balance $ 7,267 12,231 6,184 1,059 889 1,096 28,726 Provision 883 5,812 1,733 341 74 853 9,696 Charge-offs — — — (9 ) (7 ) (898 ) (914 ) Recoveries 53 300 173 — 41 464 1,031 Ending balance $ 8,203 18,343 8,090 1,391 997 1,515 38,539 |
Schedule of Amortized Cost Basis of Collateral Dependent Loans [Table Text Block] | In Thousands Real Estate Other Total December 31, 2022 Residential 1-4 family real estate $ 130 — 130 Commercial and multi-family real estate 508 — 508 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — $ 638 — 638 |
Impaired Financing Receivables [Table Text Block] | In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2021 With no related allowance recorded: Residential 1-4 family real estate $ 136 134 — 614 7 Commercial and multi-family real estate 532 531 — 303 25 Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ 668 665 — 917 32 With allowance recorded: Residential 1-4 family real estate $ — — — 602 — Commercial and multi-family real estate — — — 342 — Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ — — — 944 — Total: Residential 1-4 family real estate $ 136 134 — 1,216 7 Commercial and multi-family real estate 532 531 — 645 25 Construction, land development and farmland — — — — — Commercial, industrial and agricultural — — — — — 1-4 family equity lines of credit — — — — — Consumer and other — — — — — $ 668 665 — 1,861 32 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | 2022 2021 Performing TDRs $ 778 876 Nonperforming TDRs 150 165 Total TDRs $ 928 1,041 December 31, 2022 December 31, 2021 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family real estate — $ — $ — — $ — $ — Commercial and multi-family real estate — — — — — — Construction, land development and farmland — — — — — — Commercial, industrial and agricultural — — — — — — 1-4 family equity lines of credit — — — — — — Consumer and other — — — — — — Total — $ — $ — — $ — $ — December 31, 2020 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, Net of Related Allowance Residential 1-4 family real estate — $ — $ — Commercial and multi-family real estate 1 111 132 Construction, land development and farmland — — — Commercial, industrial and agricultural — — — 1-4 family equity lines of credit — — — Consumer and other — — — Total 1 $ 111 $ 132 |
Schedule of Loans Receivable to Related Parties [Table Text Block] | In Thousands December 31, 2022 2021 Balance, January 1 $ 5,725 $ 7,675 New loans and renewals during the year 13,379 11,009 Repayments (including loans paid by renewal) during the year (12,245 ) (12,959 ) Balance, December 31 $ 6,859 $ 5,725 |
Note 3 - Debt Securities (Table
Note 3 - Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Securities Available-For-Sale In Thousands Gross Unrealized Gross Unrealized Fair Amortized Cost Gains Losses Value U.S. Treasury and other U.S. government agencies $ 7,353 — 856 6,497 U.S. Government-sponsored enterprises (GSEs) 177,261 — 32,049 145,212 Mortgage-backed securities 518,727 1 74,290 444,438 Asset-backed securities 47,538 — 2,288 45,250 Corporate bonds 2,500 — 97 2,403 Obligations of states and political subdivisions 218,936 — 39,924 179,012 $ 972,315 1 149,504 822,812 Securities Available-For-Sale In Thousands Gross Unrealized Gross Unrealized Fair Amortized Cost Gains Losses Value U.S. Treasury and other U.S. government agencies $ 7,320 — 99 7,221 U.S. Government-sponsored enterprises (GSEs) 163,700 20 4,490 159,230 Mortgage-backed securities 465,588 2,726 6,537 461,777 Asset-backed securities 46,583 213 83 46,713 Corporate bonds 2,500 75 — 2,575 Obligations of states and political subdivisions 220,444 2,611 2,986 220,069 $ 906,135 5,645 14,195 897,585 |
Investments Classified by Contractual Maturity Date [Table Text Block] | In Thousands Securities Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 5,078 4,930 Due after one year through five years 79,925 71,315 Due after five years through ten years 270,747 226,085 Due after ten years 616,565 520,482 $ 972,315 822,812 |
Schedule of Realized Gain (Loss) [Table Text Block] | In Thousands 2022 2021 2020 Gross proceeds $ 42,728 39,652 54,870 Gross realized gains $ — 137 901 Gross realized losses (1,620 ) (109 ) (19 ) Net realized gains (losses) $ (1,620 ) 28 882 |
Schedule of Unrealized Loss on Investments [Table Text Block] | In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total Number of Number of Unrealized Securities Unrealized Securities Unrealized 2022 Fair Value Losses Included Fair Value Losses Included Fair Value Losses Available-for-Sale Securities: Debt securities: U.S. Treasury and other U.S. government agencies $ — $ — — $ 6,497 $ 856 3 $ 6,497 $ 856 U.S. Government-sponsored enterprises (GSEs) 9,747 872 4 135,465 31,177 54 145,212 32,049 Mortgage-backed securities 148,441 14,601 113 295,431 59,689 136 443,872 74,290 Asset-backed securities 35,276 1,607 21 9,974 681 11 45,250 2,288 Corporate bonds 2,403 97 1 — — — 2,403 97 Obligations of states and political subdivisions 58,567 6,056 76 120,445 33,868 128 179,012 39,924 $ 254,434 $ 23,233 215 $ 567,812 $ 126,271 332 $ 822,246 $ 149,504 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total Number of Number of Unrealized Securities Unrealized Securities Unrealized 2021 Fair Value Losses Included Fair Value Losses Included Fair Value Losses Available-for-Sale Securities: Debt securities: U.S. Treasury and other U.S. government agencies $ 7,221 $ 99 3 $ — $ — — $ 7,221 $ 99 U.S. Government-sponsored enterprises (GSEs) 110,981 2,466 33 45,725 2,024 19 156,706 4,490 Mortgage-backed securities 317,211 4,644 96 54,692 1,893 33 371,903 6,537 Asset-backed securities 17,945 67 9 484 16 1 18,429 83 Corporate bonds — — — — — — — — Obligations of states and political subdivisions 83,510 1,460 74 36,225 1,526 32 119,735 2,986 $ 536,868 $ 8,736 215 $ 137,126 $ 5,459 85 $ 673,994 $ 14,195 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | In Thousands 2022 2021 Land $ 20,822 $ 20,156 Buildings 46,579 46,112 Leasehold improvements 1,621 1,155 Furniture and equipment 14,858 14,705 Automobiles 373 241 Construction-in-progress 2,711 3,335 86,964 85,704 Less accumulated depreciation (24,933 ) (22,858 ) $ 62,031 $ 62,846 |
Note 6 - Goodwill (Tables)
Note 6 - Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | In Thousands 2022 2021 Goodwill: Balance at January 1, $ 4,805 4,805 Goodwill acquired during year — — Impairment loss — — Balance at December 31, $ 4,805 4,805 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Assets and Liabilities, Lessee [Table Text Block] | Lease right-of-use assets Classification December 31, 2022 December 31, 2021 Operating lease right-of-use assets Other Assets $ 4,519 4,110 Finance lease right-of-use assets Other Assets 2,215 — Lease liabilities Classification December 31, 2022 December 31, 2021 Operating lease liabilities Other Liabilities $ 4,671 4,247 Finance lease liabilities Other Liabilities 2,281 — |
Lease, Cost [Table Text Block] | In Thousands 2022 2021 Operating lease cost $ 563 550 Finance lease cost 159 — Short-term lease cost — 40 Net lease cost $ 722 590 2022 2021 Operating Leases Weighted average remaining lease term (in years) 10.53 10.42 Weighted average discount rate 4.25 % 4.00 % 2022 2021 Finance Leases Weighted average remaining lease term (in years) 24.35 — Weighted average discount rate 2.90 % — % In Thousands 2022 2021 Operating cash flows related to operating leases $ 547 535 Operating cash flows related to finance leases 66 — Financing cash flows related to finance leases 26 — |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | In Thousands 2022 2021 Operating Leases 2023 $ 595 544 2024 635 553 2025 642 566 2026 649 571 2027 657 576 Thereafter 2,686 2,392 Total undiscounted lease payments 5,864 5,202 Less: imputed interest (1,193 ) (955 ) Net lease liabilities $ 4,671 4,247 |
Finance Lease, Liability, Fiscal Year Maturity [Table Text Block] | In Thousands 2022 2021 Finance Leases 2023 $ 96 — 2024 98 — 2025 101 — 2026 105 — 2027 108 — Thereafter 2,787 — Total undiscounted lease payments 3,295 — Less: imputed interest (1,014 ) — Net lease liabilities $ 2,281 — |
Note 8 - Mortgage Servicing R_2
Note 8 - Mortgage Servicing Rights (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Table Text Block] | In Thousands December 31, 2022 2022 Mortgage loan portfolios serviced for: FHLMC $ 85,742 |
Servicing Asset at Amortized Cost [Table Text Block] | In Thousands December 31, 2022 2022 Balance at beginning of period $ — Servicing rights retained from loans sold 1,597 Amortization (532 ) Valuation Allowance Provision — Balance at end of period $ 1,065 Fair value, end of period $ 1,252 |
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] | December 31, 2022 Prepayment speed 7.18 % Weighted-average life (in years) 8.98 Weighted-average note rate 4.34 % Weighted-average discount rate 9.00 % |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | In Thousands 2022 2021 Demand deposits $ 414,905 433,500 Savings accounts 338,963 296,434 Negotiable order of withdrawal accounts 1,070,629 1,030,743 Money market demand accounts 1,301,349 1,201,235 Certificates of deposit $250,000 or greater 230,408 123,297 Other certificates of deposit 471,249 399,850 Individual retirement accounts $250,000 or greater 7,727 8,618 Other individual retirement accounts 57,475 61,394 Total $ 3,892,705 3,555,071 |
Time Deposit Maturities [Table Text Block] | (In Thousands) Maturity Total 2023 $ 494,645 2024 153,385 2025 77,029 2026 15,993 2027 25,807 Thereafter — $ 766,859 |
Note 10 - Non-interest Income_2
Note 10 - Non-interest Income and Non-interest Expense (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Noninterest Income and Noninterest Expense [Table Text Block] | In Thousands 2022 2021 2020 Non-interest income: Service charges on deposits $ 7,382 6,137 5,659 Brokerage income 6,929 6,368 4,837 Debit and credit card interchange income, net 8,416 7,783 5,842 Other fees and commissions 1,653 1,446 1,404 BOLI and annuity earnings 1,346 1,109 959 Gain (loss) on sale of securities, net (1,620 ) 28 882 Fees and gains on sales of mortgage loans 2,973 9,997 9,560 Mortgage servicing income 111 — — Gain (loss) on sale of other real estate, net — (15 ) 658 Gain (loss) on sale of fixed assets, net 291 (43 ) (63 ) Gain (loss) on sale of other assets, net 8 6 (4 ) Other income (loss) (69 ) 34 61 $ 27,420 32,850 29,795 In Thousands 2022 2021 2020 Non-interest expense: Employee salaries and benefits $ 56,707 52,722 45,661 Equity-based compensation 1,864 1,428 1,180 Occupancy expenses 5,563 5,473 5,216 Furniture and equipment expenses 3,389 3,323 3,267 Data processing expenses 7,727 6,079 5,101 Advertising expenses 3,455 2,736 2,487 Accounting, legal & consulting expenses 1,019 988 909 FDIC insurance 1,527 1,130 598 Directors’ fees 650 686 634 Other operating expenses 11,208 10,927 11,426 $ 93,109 85,492 76,479 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | In Thousands 2022 2021 Deferred tax asset: Federal $ 40,690 11,604 State 13,095 3,613 53,785 15,217 Deferred tax liability: Federal (1,850 ) (1,822 ) State (612 ) (603 ) (2,462 ) (2,425 ) Net deferred tax asset $ 51,323 12,792 In Thousands 2022 2021 Financial statement allowance for credit losses in excess of tax allowance $ 10,128 10,129 Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements (1,801 ) (2,098 ) Financial statement deduction for deferred compensation in excess of deduction for tax purposes 1,464 1,347 Financial statement income on FHLB stock dividends not recognized for tax purposes (327 ) (327 ) Financial statement off-balance sheet exposure allowance for credit losses in excess of tax allowance 1,604 — Unrealized loss on securities available-for-sale 39,073 2,235 Equity based compensation 1,224 1,028 Other items, net (42 ) 478 Net deferred tax asset $ 51,323 12,792 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | In Thousands Federal State Total 2022 Current $ 15,096 2,011 17,107 Deferred (1,565 ) (486 ) (2,051 ) Total $ 13,531 1,525 15,056 2021 Current $ 13,580 2,084 15,664 Deferred (698 ) (234 ) (932 ) Total $ 12,882 1,850 14,732 2020 Current $ 11,383 1,539 12,922 Deferred (2,503 ) (801 ) (3,304 ) Total $ 8,880 738 9,618 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | In Thousands 2022 2021 2020 Computed “expected” tax expense $ 14,301 13,473 10,103 State income taxes, net of Federal income tax benefit 1,117 1,584 552 Tax exempt interest, net of interest expense exclusion (274 ) (237 ) (245 ) Earnings on cash surrender value of life insurance (273 ) (205 ) (173 ) Expenses not deductible for tax purposes 23 12 14 Equity based compensation (55 ) (28 ) (6 ) Other 217 133 (627 ) $ 15,056 14,732 9,618 |
Note 13 - Financial Instrumen_2
Note 13 - Financial Instruments with Off-balance-sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, off-Balance-Sheet Risks [Table Text Block] | In Thousands Contract or Notional Amount 2022 2021 Financial instruments whose contract amounts represent credit risk: Unused commitments to extend credit $ 1,217,963 1,147,654 Standby letters of credit 118,064 90,929 Total $ 1,336,027 1,238,583 |
Off-Balance-Sheet, Credit Loss, Liability [Table Text Block] | (In Thousands) 2022 2021 2020 Beginning balance, January 1 $ 955 693 434 Impact of adopting ASC 326 6,195 — — Credit loss expense (benefit) (1,014 ) 262 259 Ending balance, December 31, $ 6,136 955 693 |
Note 17 - Regulatory Matters _2
Note 17 - Regulatory Matters and Restrictions on Dividens (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | For Classification Under Minimum Corrective Action Plan Actual Capital Adequacy as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2022 Total capital to risk weighted assets: Consolidated $ 512,025 13.5 % $ 303,440 8.0 % $ 379,300 10.0 % Wilson Bank 509,169 13.4 303,334 8.0 379,168 10.0 Tier 1 capital to risk weighted assets: Consolidated 466,076 12.3 227,580 6.0 303,440 8.0 Wilson Bank 463,220 12.2 227,500 6.0 303,333 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 466,061 12.3 170,685 4.5 N/A N/A Wilson Bank 463,205 12.2 170,625 4.5 246,458 6.5 Tier 1 capital to average assets: Consolidated 466,076 11.2 166,712 4.0 N/A N/A Wilson Bank 463,220 11.1 166,648 4.0 208,310 5.0 For Classification Under Minimum Corrective Action Plan Actual Capital Adequacy as Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2021 Total capital to risk weighted assets: Consolidated $ 455,813 13.9 % $ 261,404 8.0 % $ 326,755 10.0 % Wilson Bank 452,130 13.8 261,317 8.0 326,646 10.0 Tier 1 capital to risk weighted assets: Consolidated 415,226 12.7 196,052 6.0 261,403 8.0 Wilson Bank 411,543 12.6 195,987 6.0 261,316 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 415,226 12.7 147,039 4.5 N/A N/A Wilson Bank 411,543 12.6 146,990 4.5 212,319 6.5 Tier 1 capital to average assets: Consolidated 415,226 10.8 154,280 4.0 N/A N/A Wilson Bank 411,543 10.7 154,230 4.0 192,787 5.0 |
Note 19 - Equity Incentive Pl_2
Note 19 - Equity Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | 2022 2021 2020 Expected dividends 1.85 % 1.53 % 1.56 % Expected term (in years) 7.78 9.13 7.38 Expected stock price volatility 37 % 36 % 31 % Risk-free rate 3.03 % 1.45 % 0.52 % |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | 2022 2021 2020 Weighted Average Weighted Average Weighted Average Shares Exercise Price Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 357,254 $ 50.18 284,591 $ 43.71 273,039 $ 41.19 Granted 117,665 64.13 121,830 61.48 43,833 55.72 Exercised (58,841 ) 43.27 (48,867 ) 40.76 (24,881 ) 37.84 Forfeited or expired (1,300 ) 45.50 (300 ) 37.60 (7,400 ) 41.70 Outstanding at end of year 414,778 $ 55.13 357,254 $ 50.18 284,591 $ 43.71 Options and cash-settled SARs exercisable at year end 167,918 $ 46.09 159,560 $ 41.93 151,695 $ 40.89 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options and Cash-Settled SARs Outstanding Options and Cash-Settled SARs Exercisable Range of Exercise Prices Number Outstanding at 12/31/22 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) Number Outstanding at 12/31/22 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In Years) $32.81 - $51.00 132,266 $ 41.55 4.00 123,166 $ 41.33 3.96 $51.25 - $66.70 282,512 $ 61.49 8.48 44,752 $ 59.09 7.00 414,778 167,918 Aggregate intrinsic value (in thousands) $ 5,275 $ 3,658 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Shares Shares Weighted Average Grant-Date Fair Value Outstanding at December 31, 2021 1,250 $ 62.10 Granted 450 66.70 Vested (625 ) 62.10 Forfeited — — Outstanding at December 31, 2022 1,075 $ 64.03 |
Note 20 - Earnings Per Share (T
Note 20 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, 2022 2021 2020 Basic EPS Computation: Numerator – Earnings available to common stockholders $ 53,042 49,426 38,492 Denominator – Weighted average number of common shares outstanding 11,377,617 11,131,897 10,927,065 Basic earnings per common share $ 4.66 4.44 3.52 Diluted EPS Computation: Numerator – Earnings available to common stockholders $ 53,042 49,426 38,492 Denominator – Weighted average number of common shares outstanding 11,377,617 11,131,897 10,927,065 Dilutive effect of stock options and restricted stock shares 31,307 31,059 26,681 11,408,924 11,162,956 10,953,746 Diluted earnings per common share $ 4.65 4.43 3.51 |
Note 21 - Derivatives (Tables)
Note 21 - Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Summary of Fair Value Hedge Relationships [Table Text Block] | December 31, 2022 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 7.42 0.65 % 1 month LIBOR $ 30,000 4,520 December 31, 2021 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Interest rate swap agreements - loans Other assets 8.42 0.65 % 1 month LIBOR $ 30,000 1,192 |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Line item on the balance sheet December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Loans $ 25,452 28,717 (4,548 ) (1,283 ) |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | In Thousands 2022 2021 Notional Amount Fair Value Notional Amount Fair Value Included in other assets (liabilities): Interest rate contracts for customers $ 6,923 123 20,340 657 Forward contracts related to mortgage loans held-for-sale 6,250 62 20,500 6 |
Interest Rate Swap [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | Twelve Months Ended December 31, Gain (loss) on fair value hedging relationship 2022 2021 Interest rate swap agreements - loans: Hedged items $ (3,265 ) (1,125 ) Derivative designated as hedging instruments 3,328 1,243 |
Mortgage Banking Derivatives [Member] | |
Notes Tables | |
Derivative Instruments, Gain (Loss) [Table Text Block] | In Thousands 2022 2021 Interest rate contracts for customers $ (535 ) (57 ) Forward contracts related to mortgage loans held for sale and interest rate contracts 56 163 |
Note 22 - Disclosures About F_2
Note 22 - Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Measured on a Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Hedged Loans $ 25,452 — 25,452 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 6,497 6,497 — — U.S. Government sponsored enterprises 145,212 — 145,212 — Mortgage-backed securities 444,438 — 444,438 — Asset-backed securities 45,250 — 45,250 — Corporate bonds 2,403 — 2,403 — State and municipal securities 179,012 — 179,012 — Total investment securities available-for-sale 822,812 6,497 816,315 — Mortgage loans held for sale 3,355 — 3,355 — Derivative instruments 4,705 — 4,705 — Other investments 1,965 — — 1,965 Total assets $ 858,289 6,497 849,827 1,965 Derivative instruments $ — — — — Total liabilities $ — — — — Measured on a Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2021 Hedged Loans $ 28,717 — 28,717 — Investment securities available-for-sale: U.S. Treasury and other U.S. government agencies 7,221 7,221 — — U.S. Government sponsored enterprises 159,230 — 159,230 — Mortgage-backed securities 461,777 — 461,777 — Asset-backed securities 46,713 — 46,713 — Corporate bonds 2,575 — 2,575 — State and municipal securities 220,069 — 220,069 — Total investment securities available-for-sale 897,585 7,221 890,364 — Mortgage loans held for sale 11,843 — 11,843 — Derivative instruments 1,855 — 1,855 — Other investments 2,034 — — 2,034 Total assets $ 942,034 7,221 932,779 2,034 Derivative instruments $ — — — — Total liabilities $ — — — — |
Fair Value Measurements, Nonrecurring [Table Text Block] | Measured on a Non-Recurring Basis Total Carrying Value in the Consolidated Balance Sheet Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Other real estate owned $ — — — — Collateral dependent loans (¹) 638 — — 638 Total $ 638 — — 638 December 31, 2021 Other real estate owned $ — — — — Impaired loans, net (¹) 668 — — 668 Total $ 668 — — 668 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Valuation Techniques (2) Significant Unobservable Inputs Range (Weighted Average) Collateral dependent loans Appraisal Estimated costs to sell 10 % Other real estate owned Appraisal Estimated costs to sell 10 % |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | For the Year Ended December 31, 2022 2021 Other Assets Other Assets Fair value, January 1 $ 2,034 $ — Total realized gains (losses) included in income (69 ) 34 Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31 — — Purchases, issuances and settlements, net — 2,000 Transfers out of Level 3 — — Fair value, December 31 $ 1,965 $ 2,034 Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 $ (69 ) $ 34 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (in Thousands) Carrying/Notional Amount Estimated Fair Value (¹) Quoted Market Prices in an Active Market (Level 1) Models with Significant Observable Market Parameters (Level 2) Models with Significant Unobservable Market Parameters (Level 3) December 31, 2022 Financial assets: Cash and cash equivalents $ 104,789 104,789 104,789 — — Loans, net 3,088,344 2,992,161 — — 2,992,161 Mortgage servicing rights 1,065 1,252 — 1,252 — Financial liabilities: Deposits 3,892,705 3,210,581 — — 3,210,581 December 31, 2021 Financial assets: Cash and cash equivalents $ 453,418 453,418 453,418 — — Loans, net 2,444,282 2,439,539 — — 2,439,539 Financial liabilities: Deposits 3,555,071 3,227,520 — — 3,227,520 |
Note 23 - Wilson Bank Holding_2
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Dollars In Thousands 2022 2021 ASSETS Cash $ 4,241 * 5,113 * Investment in wholly-owned commercial bank subsidiary 357,596 * 410,034 * Deferred income taxes 1,223 1,028 Refundable income taxes 538 362 Total assets $ 363,598 416,537 LIABILITIES AND STOCKHOLDERS’ EQUITY Other liabilities $ 3,146 2,820 Total liabilities 3,146 2,820 Stockholders’ equity: Common stock, par value $ 2.00 50,000,000 11,472,181 11,201,504 22,944 22,403 Additional paid-in capital 122,298 105,177 Retained earnings 325,625 292,452 Noncontrolling interest in consolidated subsidiary 15 — Accumulated other comprehensive losses, net of taxes of $ 39,073 2,235 (110,430 ) (6,315 ) Total stockholders’ equity 360,452 413,717 Total liabilities and stockholders’ equity $ 363,598 416,537 |
Condensed Income Statement [Table Text Block] | Dollars In Thousands 2022 2021 2020 Income: Dividends from commercial bank subsidiary $ 4,200 4,300 5,000 Other income — — 61 4,200 4,300 5,061 Expenses: Directors’ fees 355 341 335 Other 2,187 1,575 1,264 2,542 1,916 1,599 Income before Federal income tax benefits and equity in undistributed earnings of Wilson Bank 1,658 2,384 3,462 Federal income tax benefits 733 475 471 2,391 2,859 3,933 Equity in undistributed earnings of Wilson Bank 50,651 * 46,567 * 34,559 * Net earnings $ 53,042 49,426 38,492 |
Condensed Cash Flow Statement [Table Text Block] | Dollars In Thousands 2022 2021 2020 Cash flows from operating activities: Net earnings $ 53,042 49,426 38,492 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of commercial bank subsidiary (54,851 ) (50,867 ) (39,559 ) Decrease (increase) in refundable income taxes (176 ) (120 ) (110 ) Increase in deferred taxes (195 ) (174 ) (229 ) Share based compensation expense 1,866 1,428 1,180 Increase in other liabilities 14 113 — Total adjustments (53,342 ) (49,620 ) (38,718 ) Net cash used in operating activities (300 ) (194 ) (226 ) Cash flows from investing activities: Dividends received from commercial bank subsidiary 4,200 4,300 5,000 Net cash provided by investing activities 4,200 4,300 5,000 Cash flows from financing activities: Payments made to stock appreciation rights holders (644 ) (515 ) (53 ) Dividends paid (20,880 ) (14,909 ) (13,013 ) Proceeds from sale of stock pursuant to dividend reinvestment plan 16,117 11,188 10,056 Proceeds from exercise of stock options 635 862 718 Net cash used in financing activities (4,772 ) (3,374 ) (2,292 ) Net increase (decrease) in cash and cash equivalents (872 ) 732 2,482 Cash and cash equivalents at beginning of year 5,113 4,381 1,899 Cash and cash equivalents at end of year $ 4,241 5,113 4,381 |
Note 24 - Quarterly Financial_2
Note 24 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | (In Thousands, except per share data) 2022 2021 2020 Fourth Third Second First Fourth Third Second First Fourth Third Second First Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Interest income $ 44,920 42,024 37,097 33,499 $ 33,810 33,719 31,570 30,742 $ 30,351 30,961 31,569 30,087 Interest expense 7,855 3,894 2,240 2,144 2,507 2,840 3,031 3,258 4,189 4,324 4,510 5,196 Net interest income 37,065 38,130 34,857 31,355 31,303 30,879 28,539 27,484 26,162 26,637 27,059 24,891 Provision for credit losses 2,596 2,543 1,625 1,892 131 130 55 827 3,065 1,038 4,124 1,469 Earnings before income taxes 15,342 19,706 18,484 14,544 17,512 17,405 14,449 14,792 10,771 14,669 11,313 11,357 Net earnings attributable to Wilson Bank Holding Company 12,340 15,190 14,139 11,373 13,801 13,342 11,139 11,144 8,902 11,532 9,027 9,031 Basic earnings per common share 1.08 1.33 1.25 1.01 1.23 1.19 1.00 1.01 0.81 1.05 0.83 0.83 Diluted earnings per common share 1.07 1.33 1.24 1.00 1.23 1.19 1.00 1.00 0.81 1.05 0.83 0.83 |
Note 25 - Revenue From Contra_2
Note 25 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Non-interest Income From Customer Contracts [Table Text Block] | Years ended December 31, 2022 2021 2020 (dollars in thousands) Fees and gains on sales of mortgage loans (1) $ 2,973 $ 9,997 $ 9,560 Service charges on deposits 7,382 6,137 5,659 Debit and credit card interchange income, net 8,416 7,783 5,842 Brokerage income 6,929 6,368 4,837 BOLI and annuity earnings (1) 1,346 1,109 959 Security gain (loss), net (1) (1,620 ) 28 882 Other non-interest income 1,994 1,428 2,056 Total non-interest income $ 27,420 $ 32,850 $ 29,795 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |||||
Dec. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jun. 01, 2022 | Dec. 31, 2019 USD ($) | |
Number of Full Service Branches | 28 | |||||
Retained Earnings (Accumulated Deficit), Total | $ 292,452,000 | $ 325,625,000 | $ 292,452,000 | |||
Minimum Other Loans Amount Requiring Evaluated for Impairment | 500,000 | |||||
Debt Securities, Trading | 0 | 0 | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | 0 | 0 | 0 | |||
Goodwill, Impairment Loss | 0 | 0 | ||||
Mortgage Servicing Income | 111,000 | 0 | $ 0 | |||
Advertising Expense | $ 3,455,000 | 2,736,000 | 2,487,000 | |||
Number of Operating Segments | 1 | |||||
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | 955,000 | $ 6,136,000 | 955,000 | 693,000 | $ 434,000 | |
Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||||
Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 40 years | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||||||
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | 6,195,000 | 6,195,000 | $ 0 | $ 0 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | ||||||
Retained Earnings (Accumulated Deficit), Total | 1,000,000 | 1,000,000 | ||||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease), Total | (7,600,000) | |||||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unfunded Loan Commitment [Member] | ||||||
Off-Balance-Sheet, Credit Loss, Liability, Ending Balance | $ 6,200,000 | $ 6,200,000 | ||||
Encompass Home Lending, LLC [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Parent | 51% |
Note 2 - Loans and Allowance _3
Note 2 - Loans and Allowance for Credit Losses (Details Textual) Pure in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Loans Receivable with Variable Rates of Interest | $ 2,546,325,000 | $ 1,916,960,000 | |
Loans Receivable with Fixed Rates of Interest | 621,437,000 | 578,978,000 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 3,167,762,000 | 2,495,938,000 | |
Financing Receivable, Nonaccrual | 0 | $ 0 | |
Financing Receivable, Nonaccrual of Interest, Number of Loans | 0 | ||
Interest Income, Operating, Total | $ 0 | $ 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 11,000 | 262,000 | |
Loans and Leases Receivable, Related Parties, Ending Balance | 6,859,000 | 5,725,000 | $ 7,675,000 |
Loans Originated Into Secondary Market | 106,601,000 | 215,813,000 | 213,483,000 |
Gain (Loss) on Sale of Mortgage Loans | 2,973,000 | 9,997,000 | $ 9,560,000 |
Loans Sold With Recourse In Secondary Market | 84,162,000 | 165,061,000 | |
Nonperforming Financial Instruments [Member] | |||
Potential Problem Loans | 6,400,000 | 7,700,000 | |
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member] | |||
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 89,000 | 5,000,000 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 93,332,000 | 74,643,000 | |
Financing Receivable, Nonaccrual | $ 0 | 0 | |
Collateral Dependent Loans [Member] | |||
Financing Receivable, Nonaccrual | $ 0 | ||
Minimum [Member] | Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Amortization Period (Year) | 15 years | ||
Financing Receivable, Maturity Period (Year) | 5 years | ||
Minimum [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Maturity Period (Year) | 1 year | ||
Maximum [Member] | Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Amortization Period (Year) | 30 years | ||
Financing Receivable, Maturity Period (Year) | 15 years | ||
Maximum [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Maturity Period (Year) | 5 years |
Note 2 - Loans and Allowance _4
Note 2 - Loans and Allowance for Credit Losses - Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Loans, gross | $ 3,167,762 | $ 2,495,938 | ||
Net deferred loan fees | (14,153) | (12,024) | ||
Total loans | 3,153,609 | 2,483,914 | ||
Less: Allowance for credit losses | (39,813) | (39,632) | $ (38,539) | $ (28,726) |
Net loans | 3,113,796 | 2,444,282 | ||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||||
Loans, gross | 854,970 | 689,579 | ||
Total loans | 854,970 | |||
Less: Allowance for credit losses | (7,310) | (9,242) | (8,203) | (7,267) |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||||
Loans, gross | 1,064,297 | 908,673 | ||
Total loans | 1,064,297 | |||
Less: Allowance for credit losses | (15,299) | (16,846) | (18,343) | (12,231) |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||||
Loans, gross | 879,528 | 612,659 | ||
Total loans | 879,528 | |||
Less: Allowance for credit losses | (13,305) | (9,757) | (8,090) | (6,184) |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||||
Loans, gross | 151,032 | 92,229 | ||
Total loans | 151,032 | |||
Less: Allowance for credit losses | (1,170) | (1,098) | (997) | (889) |
Commercial, Industrial and Agricultural Portfolio [Member] | ||||
Loans, gross | 124,603 | 118,155 | ||
Total loans | 124,603 | |||
Less: Allowance for credit losses | (1,437) | (1,329) | (1,391) | (1,059) |
Consumer Portfolio Segment [Member] | ||||
Loans, gross | 93,332 | 74,643 | ||
Total loans | 93,332 | |||
Less: Allowance for credit losses | $ (1,292) | $ (1,360) | $ (1,515) | $ (1,096) |
Note 2 - Loans and Allowance _5
Note 2 - Loans and Allowance for Credit Losses - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Loans on Nonaccrual Status | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
Loans on Nonaccrual Status | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans on Nonaccrual Status | $ 0 | $ 0 |
Note 2 - Loans and Allowance _6
Note 2 - Loans and Allowance for Credit Losses - Loan Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
2022 | $ 989,960 | $ 689,579 |
2021 | 768,474 | 908,673 |
2020 | 392,689 | 612,659 |
2019 | 206,171 | 118,155 |
2018 | 114,765 | 92,229 |
Prior | 276,420 | 74,643 |
Revolving loans | 419,283 | 2,495,938 |
Loans, before allowance | 3,153,609 | 2,483,914 |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 3,167,762 | 2,495,938 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
2022 | 288,286 | |
2021 | 262,990 | |
2020 | 106,992 | |
2019 | 62,177 | |
2018 | 29,641 | |
Prior | 86,784 | |
Revolving loans | 18,100 | |
Loans, before allowance | 854,970 | |
Current-period gross charge-offs, 2022 | 0 | |
Current-period gross charge-offs, 2021 | 0 | |
Current-period gross charge-offs, 2020 | 0 | |
Current-period gross charge-offs, 2019 | 0 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 8 | |
Current-period gross charge-offs, revolving loans | 0 | |
Current-period gross charge-offs, before allowance | 8 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 854,970 | 689,579 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
2022 | 269,129 | |
2021 | 246,265 | |
2020 | 161,488 | |
2019 | 107,908 | |
2018 | 74,494 | |
Prior | 168,671 | |
Revolving loans | 36,342 | |
Loans, before allowance | 1,064,297 | |
Current-period gross charge-offs, 2022 | 0 | |
Current-period gross charge-offs, 2021 | 0 | |
Current-period gross charge-offs, 2020 | 0 | |
Current-period gross charge-offs, 2019 | 0 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 0 | |
Current-period gross charge-offs, revolving loans | 0 | |
Current-period gross charge-offs, before allowance | 0 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 1,064,297 | 908,673 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
2022 | 364,681 | |
2021 | 237,051 | |
2020 | 90,341 | |
2019 | 9,648 | |
2018 | 5,212 | |
Prior | 9,519 | |
Revolving loans | 163,076 | |
Loans, before allowance | 879,528 | |
Current-period gross charge-offs, 2022 | 0 | |
Current-period gross charge-offs, 2021 | 0 | |
Current-period gross charge-offs, 2020 | 0 | |
Current-period gross charge-offs, 2019 | 0 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 1 | |
Current-period gross charge-offs, revolving loans | 0 | |
Current-period gross charge-offs, before allowance | 1 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 879,528 | 612,659 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 151,032 | |
Loans, before allowance | 151,032 | |
Current-period gross charge-offs, 2022 | 0 | |
Current-period gross charge-offs, 2021 | 0 | |
Current-period gross charge-offs, 2020 | 0 | |
Current-period gross charge-offs, 2019 | 0 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 0 | |
Current-period gross charge-offs, revolving loans | 0 | |
Current-period gross charge-offs, before allowance | 0 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 151,032 | 92,229 |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
2022 | 39,229 | |
2021 | 10,856 | |
2020 | 15,760 | |
2019 | 20,441 | |
2018 | 5,062 | |
Prior | 4,688 | |
Revolving loans | 28,567 | |
Loans, before allowance | 124,603 | |
Current-period gross charge-offs, 2022 | 21 | |
Current-period gross charge-offs, 2021 | 0 | |
Current-period gross charge-offs, 2020 | 0 | |
Current-period gross charge-offs, 2019 | 0 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 0 | |
Current-period gross charge-offs, revolving loans | 0 | |
Current-period gross charge-offs, before allowance | 21 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 124,603 | 118,155 |
Consumer Portfolio Segment [Member] | ||
2022 | 28,635 | |
2021 | 11,312 | |
2020 | 18,108 | |
2019 | 5,997 | |
2018 | 356 | |
Prior | 6,758 | |
Revolving loans | 22,166 | |
Loans, before allowance | 93,332 | |
Current-period gross charge-offs, 2022 | 66 | |
Current-period gross charge-offs, 2021 | 74 | |
Current-period gross charge-offs, 2020 | 41 | |
Current-period gross charge-offs, 2019 | 1 | |
Current-period gross charge-offs, 2018 | 0 | |
Current-period gross charge-offs, prior | 0 | |
Current-period gross charge-offs, revolving loans | 1,345 | |
Current-period gross charge-offs, before allowance | 1,527 | |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 93,332 | 74,643 |
Pass [Member] | ||
2022 | 989,560 | 682,527 |
2021 | 767,981 | 908,409 |
2020 | 391,592 | 612,537 |
2019 | 205,976 | 118,058 |
2018 | 114,639 | 92,208 |
Prior | 272,887 | 74,513 |
Revolving loans | 418,751 | 2,488,252 |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 3,161,386 | |
Pass [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
2022 | 288,041 | |
2021 | 262,690 | |
2020 | 106,107 | |
2019 | 61,984 | |
2018 | 29,526 | |
Prior | 83,503 | |
Revolving loans | 17,751 | |
Loans, before allowance | 849,602 | |
Pass [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
2022 | 269,129 | |
2021 | 246,265 | |
2020 | 161,326 | |
2019 | 107,908 | |
2018 | 74,494 | |
Prior | 168,541 | |
Revolving loans | 36,342 | |
Loans, before allowance | 1,064,005 | |
Pass [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
2022 | 364,681 | |
2021 | 237,051 | |
2020 | 90,341 | |
2019 | 9,648 | |
2018 | 5,212 | |
Prior | 9,445 | |
Revolving loans | 163,076 | |
Loans, before allowance | 879,454 | |
Pass [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 150,849 | |
Loans, before allowance | 150,849 | |
Pass [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | ||
2022 | 39,222 | |
2021 | 10,812 | |
2020 | 15,743 | |
2019 | 20,441 | |
2018 | 5,062 | |
Prior | 4,641 | |
Revolving loans | 28,567 | |
Loans, before allowance | 124,488 | |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
2022 | 28,487 | |
2021 | 11,163 | |
2020 | 18,075 | |
2019 | 5,995 | |
2018 | 345 | |
Prior | 6,757 | |
Revolving loans | 22,166 | |
Loans, before allowance | 92,988 | |
Special Mention [Member] | ||
2022 | 326 | 5,566 |
2021 | 474 | 0 |
2020 | 1,084 | 93 |
2019 | 64 | 96 |
2018 | 115 | 11 |
Prior | 2,102 | 89 |
Revolving loans | 416 | 5,855 |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 4,581 | |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
2022 | 245 | |
2021 | 300 | |
2020 | 885 | |
2019 | 62 | |
2018 | 115 | |
Prior | 1,955 | |
Revolving loans | 349 | |
Loans, before allowance | 3,911 | |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 162 | |
2019 | 0 | |
2018 | 0 | |
Prior | 40 | |
Revolving loans | 0 | |
Loans, before allowance | 202 | |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 60 | |
Revolving loans | 0 | |
Loans, before allowance | 60 | |
Special Mention [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 67 | |
Loans, before allowance | 67 | |
Special Mention [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | ||
2022 | 0 | |
2021 | 44 | |
2020 | 17 | |
2019 | 0 | |
2018 | 0 | |
Prior | 47 | |
Revolving loans | 0 | |
Loans, before allowance | 115 | |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
2022 | 74 | |
2021 | 130 | |
2020 | 20 | |
2019 | 2 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 0 | |
Loans, before allowance | 226 | |
Substandard [Member] | ||
2022 | 74 | 1,486 |
2021 | 19 | 264 |
2020 | 13 | 29 |
2019 | 131 | 1 |
2018 | 11 | 10 |
Prior | 1,431 | 41 |
Revolving loans | 116 | $ 1,831 |
Financing Receivable, before Allowance for Credit Loss, Fee and Loan in Process | 1,795 | |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 131 | |
2018 | 0 | |
Prior | 1,326 | |
Revolving loans | 0 | |
Loans, before allowance | 1,457 | |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 90 | |
Revolving loans | 0 | |
Loans, before allowance | 90 | |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 14 | |
Revolving loans | 0 | |
Loans, before allowance | 14 | |
Substandard [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 116 | |
Loans, before allowance | 116 | |
Substandard [Member] | Commercial, Industrial and Agricultural Portfolio [Member] | ||
2022 | 0 | |
2021 | 0 | |
2020 | 0 | |
2019 | 0 | |
2018 | 0 | |
Prior | 0 | |
Revolving loans | 0 | |
Loans, before allowance | 0 | |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
2022 | 74 | |
2021 | 19 | |
2020 | 13 | |
2019 | 0 | |
2018 | 11 | |
Prior | 1 | |
Revolving loans | 0 | |
Loans, before allowance | $ 118 |
Note 2 - Loans and Allowance _7
Note 2 - Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Loans, gross | $ 3,167,762 | $ 2,495,938 |
Recorded Investment Greater Than 90 Days and Accruing | 869 | 389 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 3,560 | 3,742 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 3,029 | 564 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 869 | 389 |
Financial Asset, Past Due [Member] | ||
Loans, gross | 7,458 | 4,695 |
Financial Asset, Not Past Due [Member] | ||
Loans, gross | 3,160,304 | 2,491,243 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Loans, gross | 854,970 | 689,579 |
Recorded Investment Greater Than 90 Days and Accruing | 426 | 357 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 2,046 | 2,072 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 1,080 | 169 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 426 | 357 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 3,552 | 2,598 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 851,418 | 686,981 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
Loans, gross | 1,064,297 | 908,673 |
Recorded Investment Greater Than 90 Days and Accruing | 400 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 397 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 1,626 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 400 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 2,423 | 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 1,061,874 | 908,673 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans, gross | 879,528 | 612,659 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 591 | 1,154 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 0 | 215 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 0 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 591 | 1,369 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 878,937 | 611,290 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans, gross | 151,032 | 92,229 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 9 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 74 | 170 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 77 | 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 9 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 151 | 179 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 150,881 | 92,050 |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
Loans, gross | 124,603 | 118,155 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 49 | 58 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 62 | 81 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 0 | 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 111 | 139 |
Commercial, Industrial and Agricultural Portfolio [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | 124,492 | 118,016 |
Consumer Portfolio Segment [Member] | ||
Loans, gross | 93,332 | 74,643 |
Recorded Investment Greater Than 90 Days and Accruing | 43 | 23 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans, gross | 403 | 288 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans, gross | 184 | 99 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans, gross | 43 | 23 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Loans, gross | 630 | 410 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Loans, gross | $ 92,702 | $ 74,233 |
Note 2 - Loans and Allowance _8
Note 2 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 39,632 | $ 38,539 | $ 28,726 |
Provision for credit losses - loans | 8,656 | 1,143 | 9,696 |
Charge-offs | (1,557) | (1,048) | (914) |
Recoveries | 646 | 998 | 1,031 |
Balance | 39,813 | 39,632 | 38,539 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 39,632 | ||
Loans, gross | 3,167,762 | 2,495,938 | |
Loans | 665 | ||
Ending balance collectively evaluated for impairment | 2,495,273 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | (7,564) | ||
Balance | (7,564) | ||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||
Balance | 9,242 | 8,203 | 7,267 |
Provision for credit losses - loans | 1,353 | 971 | 883 |
Charge-offs | (8) | 0 | 0 |
Recoveries | 116 | 68 | 53 |
Balance | 7,310 | 9,242 | 8,203 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 9,242 | ||
Loans, gross | 854,970 | 689,579 | |
Loans | 134 | ||
Ending balance collectively evaluated for impairment | 689,445 | ||
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | (3,393) | ||
Balance | (3,393) | ||
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||
Balance | 16,846 | 18,343 | 12,231 |
Provision for credit losses - loans | 1,886 | (1,497) | 5,812 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 300 |
Balance | 15,299 | 16,846 | 18,343 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 16,846 | ||
Loans, gross | 1,064,297 | 908,673 | |
Loans | 531 | ||
Ending balance collectively evaluated for impairment | 908,142 | ||
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | (3,433) | ||
Balance | (3,433) | ||
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||
Balance | 9,757 | 8,090 | 6,184 |
Provision for credit losses - loans | 3,795 | 1,296 | 1,733 |
Charge-offs | (1) | (23) | 0 |
Recoveries | 20 | 394 | 173 |
Balance | 13,305 | 9,757 | 8,090 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 9,757 | ||
Loans, gross | 879,528 | 612,659 | |
Loans | 0 | ||
Ending balance collectively evaluated for impairment | 612,659 | ||
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | (266) | ||
Balance | (266) | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Balance | 1,098 | 997 | 889 |
Provision for credit losses - loans | 396 | 101 | 74 |
Charge-offs | 0 | 0 | (7) |
Recoveries | 0 | 0 | 41 |
Balance | 1,170 | 1,098 | 997 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 1,098 | ||
Loans, gross | 151,032 | 92,229 | |
Loans | 0 | ||
Ending balance collectively evaluated for impairment | 92,229 | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | (324) | ||
Balance | (324) | ||
Commercial, Industrial and Agricultural Portfolio [Member] | |||
Balance | 1,329 | 1,391 | 1,059 |
Provision for credit losses - loans | (117) | (35) | 341 |
Charge-offs | (21) | (33) | (9) |
Recoveries | 27 | 6 | 0 |
Balance | 1,437 | 1,329 | 1,391 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 1,329 | ||
Loans, gross | 124,603 | 118,155 | |
Loans | 0 | ||
Ending balance collectively evaluated for impairment | 118,155 | ||
Commercial, Industrial and Agricultural Portfolio [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | 219 | ||
Balance | 219 | ||
Consumer Portfolio Segment [Member] | |||
Balance | 1,360 | 1,515 | 1,096 |
Provision for credit losses - loans | 1,343 | 307 | 853 |
Charge-offs | (1,527) | (992) | (898) |
Recoveries | 483 | 530 | 464 |
Balance | 1,292 | 1,360 | $ 1,515 |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 1,360 | ||
Loans, gross | 93,332 | 74,643 | |
Loans | 0 | ||
Ending balance collectively evaluated for impairment | 74,643 | ||
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Balance | $ (367) | ||
Balance | $ (367) |
Note 2 - Loans and Allowance _9
Note 2 - Loans and Allowance for Credit Losses - Amortized Cost Bases of Collateral Dependent Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Loans | $ 665 | |
Real Estate [Member] | ||
Loans | $ 638 | |
Other Collateral [Member] | ||
Loans | 0 | |
Collateral Pledged [Member] | ||
Loans | 638 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | ||
Loans | 134 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Real Estate [Member] | ||
Loans | 130 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | Collateral Pledged [Member] | ||
Loans | 130 | |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | ||
Loans | 531 | |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Real Estate [Member] | ||
Loans | 508 | |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | Collateral Pledged [Member] | ||
Loans | 508 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Real Estate [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | Collateral Pledged [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Real Estate [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Collateral Pledged [Member] | ||
Loans | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | ||
Loans | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | Real Estate [Member] | ||
Loans | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Commercial, Industrial and Agricultural Portfolio [Member] | Collateral Pledged [Member] | ||
Loans | 0 | |
Consumer Portfolio Segment [Member] | ||
Loans | $ 0 | |
Consumer Portfolio Segment [Member] | Real Estate [Member] | ||
Loans | 0 | |
Consumer Portfolio Segment [Member] | Other Collateral [Member] | ||
Loans | 0 | |
Consumer Portfolio Segment [Member] | Collateral Pledged [Member] | ||
Loans | $ 0 |
Note 2 - Loans and Allowance_10
Note 2 - Loans and Allowance for Credit Losses - Impaired Loans (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021 USD ($) | |
Recorded Investment, with no related allowance | $ 668 |
Unpaid Principal Balance, with no related allowance | 665 |
Average Recorded Investment, with no related allowance | 917 |
Interest Income Recognized, with no related allowance | 32 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 944 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 668 |
Unpaid Principal Balance | 665 |
Average Recorded Investment | 1,861 |
Interest Income Recognized | 32 |
Commercial, Industrial and Agricultural Portfolio [Member] | |
Recorded Investment, with no related allowance | 0 |
Unpaid Principal Balance, with no related allowance | 0 |
Average Recorded Investment, with no related allowance | 0 |
Interest Income Recognized, with no related allowance | 0 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 0 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 0 |
Unpaid Principal Balance | 0 |
Average Recorded Investment | 0 |
Interest Income Recognized | 0 |
Consumer Portfolio Segment [Member] | |
Recorded Investment, with no related allowance | 0 |
Unpaid Principal Balance, with no related allowance | 0 |
Average Recorded Investment, with no related allowance | 0 |
Interest Income Recognized, with no related allowance | 0 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 0 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 0 |
Unpaid Principal Balance | 0 |
Average Recorded Investment | 0 |
Interest Income Recognized | 0 |
Residential 1 to 4 Family [Member] | Real Estate Portfolio Segment [Member] | |
Recorded Investment, with no related allowance | 136 |
Unpaid Principal Balance, with no related allowance | 134 |
Average Recorded Investment, with no related allowance | 614 |
Interest Income Recognized, with no related allowance | 7 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 602 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 136 |
Unpaid Principal Balance | 134 |
Average Recorded Investment | 1,216 |
Interest Income Recognized | 7 |
Commercial and Multifamily [Member] | Real Estate Portfolio Segment [Member] | |
Recorded Investment, with no related allowance | 532 |
Unpaid Principal Balance, with no related allowance | 531 |
Average Recorded Investment, with no related allowance | 303 |
Interest Income Recognized, with no related allowance | 25 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 342 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 532 |
Unpaid Principal Balance | 531 |
Average Recorded Investment | 645 |
Interest Income Recognized | 25 |
Construction, Land Development and Farmland [Member] | Real Estate Portfolio Segment [Member] | |
Recorded Investment, with no related allowance | 0 |
Unpaid Principal Balance, with no related allowance | 0 |
Average Recorded Investment, with no related allowance | 0 |
Interest Income Recognized, with no related allowance | 0 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 0 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 0 |
Unpaid Principal Balance | 0 |
Average Recorded Investment | 0 |
Interest Income Recognized | 0 |
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | |
Recorded Investment, with no related allowance | 0 |
Unpaid Principal Balance, with no related allowance | 0 |
Average Recorded Investment, with no related allowance | 0 |
Interest Income Recognized, with no related allowance | 0 |
Recorded Investment, with related allowance | 0 |
Unpaid Principal Balance, with related allowance | 0 |
Related Allowance | 0 |
Average Recorded Investment, with related allowance | 0 |
Interest Income Recognized, with related allowance | 0 |
Recorded Investment | 0 |
Unpaid Principal Balance | 0 |
Average Recorded Investment | 0 |
Interest Income Recognized | $ 0 |
Note 2 - Loans and Allowance_11
Note 2 - Loans and Allowance for Credit Losses - Troubled Debt Restructuring (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Total TDRS | $ 928 | $ 1,041 | |
Number of Contracts | 0 | 0 | 1 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 111 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 132 |
Real Estate Portfolio Segment [Member] | Residential 1 to 4 Family [Member] | |||
Number of Contracts | 0 | 0 | 0 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Commercial and Multifamily [Member] | |||
Number of Contracts | 0 | 0 | 1 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 111 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 132 |
Real Estate Portfolio Segment [Member] | Construction, Land Development and Farmland [Member] | |||
Number of Contracts | 0 | 0 | 0 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 0 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Number of Contracts | 0 | 0 | 0 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 0 |
Commercial, Industrial and Agricultural Portfolio [Member] | |||
Number of Contracts | 0 | 0 | 0 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 0 | $ 0 |
Consumer Portfolio Segment [Member] | |||
Number of Contracts | 0 | 0 | 0 |
Pre Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | 0 | 0 | $ 0 |
Performing Financial Instruments [Member] | |||
Total TDRS | 778 | 876 | |
Nonperforming Financial Instruments [Member] | |||
Total TDRS | $ 150 | $ 165 |
Note 2 - Loans and Allowance_12
Note 2 - Loans and Allowance for Loan Losses - Loans to Related Parties (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 5,725,000 | $ 7,675,000 |
New loans and renewals during the year | 13,379,000 | 11,009,000 |
Repayments (including loans paid by renewal) during the year | (12,245,000) | (12,959,000) |
Balance | $ 6,859,000 | $ 5,725,000 |
Note 3 - Debt Securities (Detai
Note 3 - Debt Securities (Details Textual) - USD ($) | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Ending Balance | $ 0 | ||
Debt Securities, Available-for-Sale, Amortized Cost, Total | 972,315,000 | $ 972,315,000 | $ 906,135,000 |
Debt Securities, Available-for-Sale, Total | 822,812,000 | $ 822,812,000 | 897,585,000 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss, Total | 149,504,000 | 14,195,000 | |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Total | 822,246,000 | 673,994,000 | |
Tennessee, Alabama, and Texas [Member] | |||
Security Owned and Pledged as Collateral | 111,505,000 | 111,103,000 | |
Security Owned and Pledged as Collateral, Fair Value 1 | 110,384,000 | ||
Asset Pledged as Collateral [Member] | Tennessee, Alabama, and Texas [Member] | |||
Financial Instruments, Owned, at Fair Value, Total | 90,008,000 | ||
Asset Pledged as Collateral [Member] | Public Deposits and Other Required Purposes [Member] | |||
Debt Securities, Available-for-Sale, Amortized Cost, Total | 477,051,000 | 368,718,000 | |
Debt Securities, Available-for-Sale, Total | 405,043,000 | 364,893,000 | |
Collateralized Mortgage Obligations [Member] | |||
Debt Securities, Available-for-Sale, Amortized Cost, Total | 148,460,000 | 130,594,000 | |
Debt Securities, Available-for-Sale, Total | $ 126,190,000 | $ 128,281,000 | |
US Government Sponsored Entities and Agencies [Member] | |||
Percent of Mortgage Backed Securties | 98% | ||
Non-agency Collateralized Mortgage Obligations [Member] | |||
Debt Securities, Available-for-Sale, Total | $ 11,000,000 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss, Total | $ 1,800,000 |
Note 3 - Debt Securities - Debt
Note 3 - Debt Securities - Debt and Equity Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Available-for-sale, amortized cost | $ 972,315 | $ 972,315 | $ 906,135 |
Securities, Available-for-sale, Gross Unrealized Gains | 1 | 5,645 | |
Securities, Available-for-sale, Gross Unrealized Losses | 149,504 | 14,195 | |
Debt Securities, Available-for-Sale, Total | 822,812 | $ 822,812 | 897,585 |
US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Available-for-sale, amortized cost | 7,353 | 7,320 | |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 0 | |
Securities, Available-for-sale, Gross Unrealized Losses | 856 | 99 | |
Debt Securities, Available-for-Sale, Total | 6,497 | 7,221 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Available-for-sale, amortized cost | 177,261 | 163,700 | |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 20 | |
Securities, Available-for-sale, Gross Unrealized Losses | 32,049 | 4,490 | |
Debt Securities, Available-for-Sale, Total | 145,212 | 159,230 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Available-for-sale, amortized cost | 518,727 | 465,588 | |
Securities, Available-for-sale, Gross Unrealized Gains | 1 | 2,726 | |
Securities, Available-for-sale, Gross Unrealized Losses | 74,290 | 6,537 | |
Debt Securities, Available-for-Sale, Total | 444,438 | 461,777 | |
Asset-Backed Securities [Member] | |||
Available-for-sale, amortized cost | 47,538 | 46,583 | |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 213 | |
Securities, Available-for-sale, Gross Unrealized Losses | 2,288 | 83 | |
Debt Securities, Available-for-Sale, Total | 45,250 | 46,713 | |
Corporate Debt Securities [Member] | |||
Available-for-sale, amortized cost | 2,500 | 2,500 | |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 75 | |
Securities, Available-for-sale, Gross Unrealized Losses | 97 | 0 | |
Debt Securities, Available-for-Sale, Total | 2,403 | 2,575 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Available-for-sale, amortized cost | 218,936 | 220,444 | |
Securities, Available-for-sale, Gross Unrealized Gains | 0 | 2,611 | |
Securities, Available-for-sale, Gross Unrealized Losses | 39,924 | 2,986 | |
Debt Securities, Available-for-Sale, Total | $ 179,012 | $ 220,069 |
Note 3 - Debt Securities - De_2
Note 3 - Debt Securities - Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Due in one year or less, securities available-for-sale, amortized cost | $ 5,078 | ||
Due in one year or less, securities available-for-sale, estimated market value | 4,930 | ||
Due after one year through five years, securities available-for-sale, amortized cost | 79,925 | ||
Due after one year through five years, securities available-for-sale, estimated market value | 71,315 | ||
Due after five years through ten years, securities available-for-sale, amortized cost | 270,747 | ||
Due after five years through ten years, securities available-for-sale, estimated market value | 226,085 | ||
Due after ten years, securities available-for-sale, amortized cost | 616,565 | ||
Due after ten years, securities available-for-sale, estimated market value | 520,482 | ||
Amortized cost | $ 972,315 | 972,315 | $ 906,135 |
Fair value | $ 822,812 | $ 822,812 | $ 897,585 |
Note 3 - Debt Securities - Sale
Note 3 - Debt Securities - Sales of Debt and Equity Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Sales | $ 42,728 | $ 39,652 | $ 54,870 |
Gross realized gains | 0 | 137 | 901 |
Gross realized losses | (1,620) | (109) | (19) |
Net realized gains (losses) | $ (1,620) | $ 28 | $ 882 |
Note 3 - Debt Securities - Gros
Note 3 - Debt Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Details) $ in Thousands | Dec. 31, 2022 USD ($) item | Dec. 31, 2021 USD ($) item |
Available-for-Sale Securities, Less than 12 Months, Fair Value | $ 254,434 | $ 536,868 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 23,233 | $ 8,736 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 215 | 215 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 567,812 | $ 137,126 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 126,271 | $ 5,459 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 332 | 85 |
Available-for-Sale Securities, Total, Fair Value | $ 822,246 | $ 673,994 |
Available-for-Sale Securities, Total, Unrealized Losses | 149,504 | 14,195 |
US Treasury and Other US Government Agencies Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 0 | 7,221 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 0 | $ 99 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 0 | 3 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 6,497 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 856 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 3 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 6,497 | $ 7,221 |
Available-for-Sale Securities, Total, Unrealized Losses | 856 | 99 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 9,747 | 110,981 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 872 | $ 2,466 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 4 | 33 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 135,465 | $ 45,725 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 31,177 | $ 2,024 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 54 | 19 |
Available-for-Sale Securities, Total, Fair Value | $ 145,212 | $ 156,706 |
Available-for-Sale Securities, Total, Unrealized Losses | 32,049 | 4,490 |
Collateralized Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 148,441 | 317,211 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 14,601 | $ 4,644 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 113 | 96 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 295,431 | $ 54,692 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 59,689 | $ 1,893 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 136 | 33 |
Available-for-Sale Securities, Total, Fair Value | $ 443,872 | $ 371,903 |
Available-for-Sale Securities, Total, Unrealized Losses | 74,290 | 6,537 |
Asset-Backed Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 35,276 | 17,945 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 1,607 | $ 67 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 21 | 9 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 9,974 | $ 484 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 681 | $ 16 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 11 | 1 |
Available-for-Sale Securities, Total, Fair Value | $ 45,250 | $ 18,429 |
Available-for-Sale Securities, Total, Unrealized Losses | 2,288 | 83 |
Corporate Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 2,403 | 0 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 97 | $ 0 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | item | 1 | 0 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 0 | $ 0 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | item | 0 | 0 |
Available-for-Sale Securities, Total, Fair Value | $ 2,403 | $ 0 |
Available-for-Sale Securities, Total, Unrealized Losses | 97 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-Sale Securities, Less than 12 Months, Fair Value | 58,567 | 83,510 |
Available-for-Sale Securities, Less than 12 Months, Unrealized Losses | $ 6,056 | $ 1,460 |
Available-for-Sale Securities, Less than 12 Months, Number of Securities Included | 76 | 74 |
Available-for-Sale Securities, 12 Months or More, Fair Value | $ 120,445 | $ 36,225 |
Available-for-Sale Securities, 12 Months or More, Unrealized Losses | $ 33,868 | $ 1,526 |
Available-for-Sale Securities, 12 Months or More, Number of Securities Included | 128 | 32 |
Available-for-Sale Securities, Total, Fair Value | $ 179,012 | $ 119,735 |
Available-for-Sale Securities, Total, Unrealized Losses | $ 39,924 | $ 2,986 |
Note 4 - Restricted Equity Se_2
Note 4 - Restricted Equity Securities (Details Textual) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Restricted Investments | $ 4,357,000 | $ 5,089,000 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Total | $ 4,370,000 | $ 4,235,000 | $ 4,250,000 |
Construction and Repairs of Buildings [Member] | Director [Member] | |||
Related Party Transaction, Amounts of Transaction | $ 379,000 | $ 1,227,000 | $ 571,000 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment - Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Premises and equipment, gross | $ 86,964 | $ 85,704 |
Less accumulated depreciation | (24,933) | (22,858) |
Property, Plant and Equipment, Net, Total | 62,031 | 62,846 |
Land [Member] | ||
Premises and equipment, gross | 20,822 | 20,156 |
Building [Member] | ||
Premises and equipment, gross | 46,579 | 46,112 |
Leasehold Improvements [Member] | ||
Premises and equipment, gross | 1,621 | 1,155 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | 14,858 | 14,705 |
Vehicles [Member] | ||
Premises and equipment, gross | 373 | 241 |
Construction in Progress [Member] | ||
Premises and equipment, gross | $ 2,711 | $ 3,335 |
Note 6 - Goodwill (Details Text
Note 6 - Goodwill (Details Textual) | Dec. 31, 2005 |
Acquisition of Subsidiaries [Member] | |
Business Acquisition, Percentage of Voting Interests Acquired | 100% |
Note 6 - Goodwill - Goodwill (D
Note 6 - Goodwill - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 4,805 | $ 4,805 |
Goodwill acquired during year | 0 | 0 |
Impairment loss | 0 | 0 |
Balance | $ 4,805 | $ 4,805 |
Note 7 - Leases - Lease Assets
Note 7 - Leases - Lease Assets and Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other Assets [Member] | ||
Operating lease right-of-use assets | $ 4,519 | $ 4,110 |
Finance lease right-of-use assets | 2,215 | 0 |
Other Liabilities [Member] | ||
Operating lease liabilities | 4,671 | 4,247 |
Finance lease liabilities | $ 2,281 | $ 0 |
Note 7 - Leases - Lease Cost (D
Note 7 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating lease cost | $ 563 | $ 550 | |
Finance lease cost | 159 | 0 | |
Short-term lease cost | 0 | 40 | |
Net lease cost | $ 722 | $ 590 | |
Operating Leases, Weighted average remaining lease term (Year) | 10 years 6 months 10 days | 10 years 5 months 1 day | |
Operating Leases, Weighted average discount rate | 4.25% | 4% | |
Finance lease, Weighted average remaining lease term (in years) (Year) | 24 years 4 months 6 days | 0 years | |
Finance lease, Weighted average discount rate | 2.90% | 0% | |
Operating cash flows related to operating leases | $ 547 | $ 535 | |
Operating cash flows related to finance leases | 66 | 0 | |
Financing cash flows related to finance leases | $ 26 | $ 0 | $ 0 |
Note 7 - Leases - Future Undisc
Note 7 - Leases - Future Undiscounted Lease Payments for Operating Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023, operating lease | $ 595 | $ 544 |
2024, operating lease | 635 | 553 |
2025, operating lease | 642 | 566 |
2026, operating lease | 649 | 571 |
2027, operating lease | 657 | 576 |
Thereafter, operating lease | 2,686 | 2,392 |
Total undiscounted lease payments, operating lease | 5,864 | 5,202 |
Less: imputed interest, operating lease | (1,193) | (955) |
Other Liabilities [Member] | ||
Operating lease liabilities | $ 4,671 | $ 4,247 |
Note 7 - Leases - Future Undi_2
Note 7 - Leases - Future Undiscounted Lease Payments for Finance Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023, finance leases | $ 96 | $ 0 |
2024, finance leases | 98 | 0 |
2025, finance leases | 101 | 0 |
2026, finance leases | 105 | 0 |
2027, finance leases | 108 | 0 |
Thereafter, finance leases | 2,787 | 0 |
Total undiscounted lease payments, finance leases | 3,295 | 0 |
Less: imputed interest, finance leases | (1,014) | 0 |
Other Liabilities [Member] | ||
Finance lease liabilities | $ 2,281 | $ 0 |
Note 8 - Mortgage Servicing R_3
Note 8 - Mortgage Servicing Rights - Principal Balances (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
FHLMC | $ 85,742 |
Note 8 - Mortgage Servicing R_4
Note 8 - Mortgage Servicing Rights - Mortgage Servicing Rights Under Amortization Method (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Balance at beginning of period | $ 0 |
Servicing rights retained from loans sold | 1,597 |
Amortization | (532) |
Valuation Allowance Provision | 0 |
Balance at end of period | 1,065 |
Fair value, end of period | $ 1,252 |
Note 8 - Mortgage Servicing R_5
Note 8 - Mortgage Servicing Rights - Key Data and Assumptions Used in Estimating Fair Value (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Prepayment speed | 7.18% |
Weighted-average life (in years) (Year) | 8 years 11 months 23 days |
Weighted-average note rate | 4.34% |
Weighted-average discount rate | 9% |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Deposit Liabilities Reclassified as Loans Receivable | $ 1,453,000 | $ 529,000 |
Related Party Deposit Liabilities | 9,743,000 | 5,806,000 |
Minimum Average Yearly Cash Balance With Federal Reserve | $ 0 | $ 0 |
Note 9 - Deposits - Deposits (D
Note 9 - Deposits - Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Demand deposits | $ 414,905 | $ 433,500 |
Savings accounts | 338,963 | 296,434 |
Negotiable order of withdrawal accounts | 1,070,629 | 1,030,743 |
Money market demand accounts | 1,301,349 | 1,201,235 |
Certificates of deposit $250,000 or greater | 230,408 | 123,297 |
Other certificates of deposit | 471,249 | 399,850 |
Individual retirement accounts $250,000 or greater | 7,727 | 8,618 |
Other individual retirement accounts | 57,475 | 61,394 |
Total deposits | $ 3,892,705 | $ 3,555,071 |
Note 9 - Deposits - Principal M
Note 9 - Deposits - Principal Maturities of Certificates of Deposit and Individual Retirement Accounts (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 494,645 |
2024 | 153,385 |
2025 | 77,029 |
2026 | 15,993 |
2027 | 25,807 |
Thereafter | 0 |
Time Deposits, Total | $ 766,859 |
Note 10 - Non-interest Income_3
Note 10 - Non-interest Income and Non-interest Expense - Non-interest Income and Non-interest Expense (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Service charges on deposits | $ 7,382,000 | $ 6,137,000 | $ 5,659,000 |
Brokerage income | 6,929,000 | 6,368,000 | 4,837,000 |
Debit and credit card interchange income, net | 8,416,000 | 7,783,000 | 5,842,000 |
Other fees and commissions | 1,653,000 | 1,446,000 | 1,404,000 |
BOLI and annuity earnings | 1,346,000 | 1,109,000 | 959,000 |
Gain (loss) on sale of securities, net | (1,620,000) | 28,000 | 882,000 |
Fees and gains on sales of mortgage loans | 2,973,000 | 9,997,000 | 9,560,000 |
Mortgage servicing income | 111,000 | 0 | 0 |
Gain (loss) on sale of other real estate, net | 0 | (15,000) | 658,000 |
Gain (loss) on sale of fixed assets, net | 291,000 | (43,000) | (63,000) |
Gain (loss) on sale of other assets, net | 8,000 | 6,000 | (4,000) |
Other income (loss) | (69,000) | 34,000 | 61,000 |
Noninterest Income, Total | 27,420,000 | 32,850,000 | 29,795,000 |
Employee salaries and benefits | 56,707,000 | 52,722,000 | 45,661,000 |
Equity-based compensation | 1,864,000 | 1,428,000 | 1,180,000 |
Occupancy expenses | 5,563,000 | 5,473,000 | 5,216,000 |
Furniture and equipment expenses | 3,389,000 | 3,323,000 | 3,267,000 |
Data processing expenses | 7,727,000 | 6,079,000 | 5,101,000 |
Advertising expenses | 3,455,000 | 2,736,000 | 2,487,000 |
Accounting, legal & consulting expenses | 1,019,000 | 988,000 | 909,000 |
FDIC insurance | 1,527,000 | 1,130,000 | 598,000 |
Directors’ fees | 650,000 | 686,000 | 634,000 |
Other operating expenses | 11,208,000 | 10,927,000 | 11,426,000 |
Noninterest Expense, Total | $ 93,109,000 | $ 85,492,000 | $ 76,479,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 15,056,000 | $ 14,732,000 | $ 9,618,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ (423,000) | $ 7,000 | $ 231,000 |
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | |
Deferred Tax Assets, Valuation Allowance | $ 0 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Open Tax Year | 2019 2020 2021 2022 |
Note 11 - Income Taxes - Compon
Note 11 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax asset | $ 53,785 | $ 15,217 |
Deferred tax liability | (2,462) | (2,425) |
Net deferred tax asset | 51,323 | 12,792 |
Financial statement allowance for credit losses in excess of tax allowance | 10,128 | 10,129 |
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements | (1,801) | (2,098) |
Financial statement deduction for deferred compensation in excess of deduction for tax purposes | 1,464 | 1,347 |
Financial statement income on FHLB stock dividends not recognized for tax purposes | (327) | (327) |
Financial statement off-balance sheet exposure allowance for credit losses in excess of tax allowance | 1,604 | 0 |
Unrealized loss on securities available-for-sale | 39,073 | 2,235 |
Equity based compensation | 1,224 | 1,028 |
Other items, net | (42) | 478 |
Domestic Tax Authority [Member] | ||
Deferred tax asset | 40,690 | 11,604 |
Deferred tax liability | (1,850) | (1,822) |
State and Local Jurisdiction [Member] | ||
Deferred tax asset | 13,095 | 3,613 |
Deferred tax liability | $ (612) | $ (603) |
Note 11 - Income Taxes - Comp_2
Note 11 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current Federal | $ 15,096,000 | $ 13,580,000 | $ 11,383,000 |
Current State | 2,011,000 | 2,084,000 | 1,539,000 |
Current | 17,107,000 | 15,664,000 | 12,922,000 |
Deferred Federal | (1,565,000) | (698,000) | (2,503,000) |
Deferred State | (486,000) | (234,000) | (801,000) |
Deferred income taxes provision | (2,051,000) | (932,000) | (3,304,000) |
Total Federal | 13,531,000 | 12,882,000 | 8,880,000 |
Total State | 1,525,000 | 1,850,000 | 738,000 |
Income Tax Expense (Benefit), Total | 15,056,000 | 14,732,000 | 9,618,000 |
Current | 17,107,000 | 15,664,000 | 12,922,000 |
Deferred | $ (2,051,000) | $ (932,000) | $ (3,304,000) |
Note 11 - Income Taxes - Reconc
Note 11 - Income Taxes - Reconciliation of Actual Income Tax Expense to the Expected Tax Expense (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Computed “expected” tax expense | $ 14,301,000 | $ 13,473,000 | $ 10,103,000 |
State income taxes, net of Federal income tax benefit | 1,117,000 | 1,584,000 | 552,000 |
Tax exempt interest, net of interest expense exclusion | (274,000) | (237,000) | (245,000) |
Earnings on cash surrender value of life insurance | (273,000) | (205,000) | (173,000) |
Expenses not deductible for tax purposes | 23,000 | 12,000 | 14,000 |
Equity based compensation | (55,000) | (28,000) | (6,000) |
Other | 217,000 | 133,000 | (627,000) |
Income Tax Expense (Benefit), Total | $ 15,056,000 | $ 14,732,000 | $ 9,618,000 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingent Liabilities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 101,208,000 | $ 74,817,000 |
Long-Term Line of Credit, Total | 0 | 0 |
Cash Management Advance Line of Credit [Member] | Line of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 25,000,000 | |
Long-Term Line of Credit, Total | $ 0 | $ 0 |
Line of Credit Facility, Period for Variable Rate (Day) | 90 days | |
Line of Credit Facility, Period of Fixed Rate (Day) | 30 days |
Note 13 - Financial Instrumen_3
Note 13 - Financial Instruments with Off-balance-sheet Risk (Details Textual) | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 118,064,000 |
Minimum [Member] | Standby Letters of Credit [Member] | |
Guarantee Obligations, Term 1 (Year) | 1 year |
Maximum [Member] | Standby Letters of Credit [Member] | |
Guarantee Obligations, Term 1 (Year) | 2 years |
Note 13 - Financial Instrumen_4
Note 13 - Financial Instruments with Off-balance-sheet Risk - Financial Instruments Whose Contract Amounts Represents Credit Risk (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Contract or notional amount | $ 1,336,027 | $ 1,238,583 |
Unused Commitments to Extend Credit [Member] | ||
Contract or notional amount | 1,217,963 | 1,147,654 |
Standby Letters of Credit 1 [Member] | ||
Contract or notional amount | $ 118,064 | $ 90,929 |
Note 13 - Financial Instrumen_5
Note 13 - Financial Instruments with Off-balance-sheet Risk - Allowance on Off-balance Sheet Credit Exposures (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning balance, January 1 | $ 955 | $ 693 | $ 434 |
Credit loss expense (benefit) | (1,014) | 262 | 259 |
Ending balance, December 31, | 6,136 | 955 | 693 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Beginning balance, January 1 | $ 6,195 | 0 | 0 |
Ending balance, December 31, | $ 6,195 | $ 0 |
Note 14 - Concentration of Cr_2
Note 14 - Concentration of Credit Risk (Details Textual) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Interest-Bearing Deposits in Banks and Other Financial Institutions | $ 2,299,000 | |
Interest Bearing Deposits, Number of Banks | 3 | |
Deposits with Other Federal Home Loan Banks | $ 372,000 | |
Federal Funds Sold | $ 308,000 | $ 27,055,000 |
Federal Funds Sold, Number of Banks | 1 | |
Collateral Related to Fixed Rate Loan Hedging Program [Member] | ||
Interest-Bearing Deposits in Banks and Other Financial Institutions | $ 900,000 | |
Interest Bearing Deposits, Number of Banks | 1 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 3,309,000 | $ 3,120,000 | $ 2,926,000 |
Note 16 - Dividend Reinvestme_2
Note 16 - Dividend Reinvestment Plan (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stock Issued During Period, Shares, Dividend Reinvestment Plan (in shares) | 250,365 | 186,583 | 180,424 |
Note 17 - Regulatory Matters _3
Note 17 - Regulatory Matters and Restrictions on Dividends - Summary of Company's and Wilson Banks Actual Capital Amounts and Ratios (Details) $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Total capital to risk weighted assets actual amount | $ 512,025 | $ 455,813 |
Total capital to risk weighted assets actual ratio | 0.135 | 0.139 |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 303,440 | $ 261,404 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio ( | 0.080 | 0.080 |
Well capitalized amount | $ 379,300 | $ 326,755 |
Total capital to risk weighted assets regulatory minimum capital requirement well capitalized ratio | 0.100 | 0.100 |
Tier 1 capital to risk weighted assets actual amount | $ 466,076 | $ 415,226 |
Tier 1 capital to risk weighted assets actual ratio | 0.123 | 0.127 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 227,580 | $ 196,052 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.060 | 0.060 |
Tier 1 capital to risk well capitalized amount | $ 303,440 | $ 261,403 |
Tier 1 capital to risk weighted assets regulatory well capitalized ratio | 0.080 | 0.080 |
Common equity Tier 1 capital to risk weighted assets actual amount | $ 466,061 | $ 415,226 |
Common equity Tier 1 capital to risk weighted assets actual ratio | 0.123 | 0.127 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 170,685 | $ 147,039 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.045 | 0.045 |
Tier 1 capital to average assets actual amount | $ 466,076 | $ 415,226 |
Tier 1 capital to average assets actual ratio | 0.112 | 0.108 |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 166,712 | $ 154,280 |
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent) | 0.040 | 0.040 |
Wilson Bank [Member] | ||
Total capital to risk weighted assets actual amount | $ 509,169 | $ 452,130 |
Total capital to risk weighted assets actual ratio | 0.134 | 0.138 |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 303,334 | $ 261,317 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio ( | 0.080 | 0.080 |
Well capitalized amount | $ 379,168 | $ 326,646 |
Total capital to risk weighted assets regulatory minimum capital requirement well capitalized ratio | 0.100 | 0.100 |
Tier 1 capital to risk weighted assets actual amount | $ 463,220 | $ 411,543 |
Tier 1 capital to risk weighted assets actual ratio | 0.122 | 0.126 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 227,500 | $ 195,987 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.060 | 0.060 |
Tier 1 capital to risk well capitalized amount | $ 303,333 | $ 261,316 |
Tier 1 capital to risk weighted assets regulatory well capitalized ratio | 0.080 | 0.080 |
Common equity Tier 1 capital to risk weighted assets actual amount | $ 463,205 | $ 411,543 |
Common equity Tier 1 capital to risk weighted assets actual ratio | 0.122 | 0.126 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 170,625 | $ 146,990 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio | 0.045 | 0.045 |
Common equity Tier 1 capital to risk weighted assets regulatory well capitalized | $ 246,458 | $ 212,319 |
Common equity Tier 1 capital to risk weighted assets well capitalized ratio | 0.065 | 0.065 |
Tier 1 capital to average assets actual amount | $ 463,220 | $ 411,543 |
Tier 1 capital to average assets actual ratio | 0.111 | 0.107 |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 166,648 | $ 154,230 |
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent) | 0.040 | 0.040 |
Tier 1 capital to average assets well capitalized | $ 208,310 | $ 192,787 |
Tier 1 capital to average assets well capitalized ratio (as a percent) | 0.050 | 0.050 |
Note 18 - Salary Deferral Pla_2
Note 18 - Salary Deferral Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred Compensation Liability, Current and Noncurrent, Total | $ 1,575,000 | $ 1,660,000 | |
Deferred Compensation Arrangement with Individual, Compensation Expense | 789,000 | 705,000 | $ 575,000 |
Cash Surrender Value of Life Insurance | 6,306,000 | 5,669,000 | |
Life Settlement Contracts, Investment Method, Face Value, Total | 16,377,000 | 15,497,000 | |
Supplemental Employee Retirement Plan Agreement [Member] | |||
Deferred Compensation Liability, Current and Noncurrent, Total | 4,026,000 | 3,496,000 | |
Cash Surrender Value of Life Insurance | 51,701,000 | 40,536,000 | |
Life Settlement Contracts, Investment Method, Face Value, Total | 121,634,000 | 98,879,000 | |
Flexible Indexed Annuity Contracts Value | $ 24,135,000 | $ 23,861,000 |
Note 19 - Equity Incentive Pl_3
Note 19 - Equity Incentive Plan (Details Textual) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Apr. 13, 2019 | Jun. 30, 2016 | Apr. 30, 2009 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 243,838 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 55.74 | |||||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 1,575,000 | $ 1,660,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 22.64 | $ 22.10 | $ 14.92 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 4,766,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 8 months 12 days | |||||
Stock Appreciation Rights (SARs) [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 170,940 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ 54.26 | |||||
Stock Appreciation Rights (SARs) [Member] | Other Liabilities [Member] | ||||||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 3,020,000 | $ 2,708,000 | ||||
Options and Stock Appreciation Rights [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Intrinsic Value of Awards Exercised During Period | $ 1,310,000 | $ 962,000 | $ 463,000 | |||
Restricted Stock [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 1,075 | 1,250 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ 64.03 | $ 62.10 | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 60,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 14 days | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 42,000 | |||||
The 2009 Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 5,476 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 35.42 | |||||
The 2016 Equity Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 750,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 245,731 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 238,362 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 56.21 | |||||
The 2016 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance (in shares) | 170,940 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ 54.26 |
Note 19 - Equity Incentive Pl_4
Note 19 - Equity Incentive Plan - Schedule of Weighted-average Black-Scholes Fair Value Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expected dividends | 1.85% | 1.53% | 1.56% |
Expected term (in years) (Year) | 7 years 9 months 10 days | 9 years 1 month 17 days | 7 years 4 months 17 days |
Expected stock price volatility | 37% | 36% | 31% |
Risk-free rate | 3.03% | 1.45% | 0.52% |
Note 19 - Equity Incentive Pl_5
Note 19 - Equity Incentive Plans - Summary of Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Exercised (in shares) | (19,687) | (21,517) | (19,981) |
Outstanding at end of year (in shares) | 243,838 | ||
Outstanding at end of year, Weighted Average Exercise Price (in dollars per share) | $ 55.74 | ||
Stock Options and Stock Appreciation Rights [Member] | |||
Outstanding at beginning of year (in shares) | 357,254 | 284,591 | 273,039 |
Outstanding at beginning of year, Weighted Average Exercise Price (in dollars per share) | $ 50.18 | $ 43.71 | $ 41.19 |
Granted (in shares) | 117,665 | 121,830 | 43,833 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 64.13 | $ 61.48 | $ 55.72 |
Exercised (in shares) | (58,841) | (48,867) | (24,881) |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 43.27 | $ 40.76 | $ 37.84 |
Forfeited or expired (in shares) | (1,300) | (300) | (7,400) |
Forfeited or expired, Weighted Average Exercise Price (in dollars per share) | $ 45.50 | $ 37.60 | $ 41.70 |
Outstanding at end of year (in shares) | 414,778 | 357,254 | 284,591 |
Outstanding at end of year, Weighted Average Exercise Price (in dollars per share) | $ 55.13 | $ 50.18 | $ 43.71 |
Options and cash-settled SARs exercisable at year end (in shares) | 167,918 | 159,560 | 151,695 |
Options and cash-settled SARs exercisable at year end, Weighted Average Exercise Price (in dollars per share) | $ 46.09 | $ 41.93 | $ 40.89 |
Note 19 - Equity Incentive Pl_6
Note 19 - Equity Incentive Plan - Summary of Information About Stock Options (Details) - Stock Options and Stock Appreciation Rights [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) $ / shares shares | |
Options Outstanding, Number of outstanding (in shares) | shares | 414,778 |
Options Exercisable, Number exercisable (in shares) | shares | 167,918 |
Aggregate intrinsic value | $ | $ 5,275 |
Aggregate intrinsic value | $ | $ 3,658 |
Price Range 1 [Member] | |
Lower limit (in dollars per share) | $ 32.81 |
Options Outstanding, Number of outstanding (in shares) | shares | 132,266 |
Upper limit (in dollars per share) | $ 51 |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 41.55 |
Options Outstanding, Weighted average remaining contractual term (Year) | 4 years |
Options Exercisable, Number exercisable (in shares) | shares | 123,166 |
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 41.33 |
Options Exercisable, Weighted average remaining contractual term (Year) | 3 years 11 months 15 days |
Price Range 2 [Member] | |
Lower limit (in dollars per share) | $ 51.25 |
Options Outstanding, Number of outstanding (in shares) | shares | 282,512 |
Upper limit (in dollars per share) | $ 66.70 |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ 61.49 |
Options Outstanding, Weighted average remaining contractual term (Year) | 8 years 5 months 23 days |
Options Exercisable, Number exercisable (in shares) | shares | 44,752 |
Options Exercisable, Weighted average exercise price (in dollars per share) | $ 59.09 |
Options Exercisable, Weighted average remaining contractual term (Year) | 7 years |
Note 19 - Equity Incentive Pl_7
Note 19 - Equity Incentive Plan - Summary of Restricted Stock Shares Activity (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding, shares (in shares) | shares | 1,250 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 62.10 |
Granted , shares (in shares) | shares | 450 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 66.70 |
Vested, shares (in shares) | shares | (625) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 62.10 |
Forfeited, shares (in shares) | shares | 0 |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Outstanding, shares (in shares) | shares | 1,075 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 64.03 |
Note 20 - Earnings Per Share -
Note 20 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Numerator – Earnings available to common stockholders | $ 12,340 | $ 15,190 | $ 14,139 | $ 11,373 | $ 13,801 | $ 13,342 | $ 11,139 | $ 11,144 | $ 8,902 | $ 11,532 | $ 9,027 | $ 9,031 | $ 53,042 | $ 49,426 | $ 38,492 |
Denominator – Weighted average number of common shares outstanding (in shares) | 11,377,617 | 11,131,897 | 10,927,065 | ||||||||||||
Basic earnings per common share (in dollars per share) | $ 1.08 | $ 1.33 | $ 1.25 | $ 1.01 | $ 1.23 | $ 1.19 | $ 1 | $ 1.01 | $ 0.81 | $ 1.05 | $ 0.83 | $ 0.83 | $ 4.66 | $ 4.44 | $ 3.52 |
Numerator – Earnings available to common stockholders | $ 53,042 | $ 49,426 | $ 38,492 | ||||||||||||
Dilutive effect of stock options and restricted stock shares (in shares) | 31,307 | 31,059 | 26,681 | ||||||||||||
Weighted Average Number of Shares Outstanding, Diluted, Total | 11,408,924 | 11,162,956 | 10,953,746 | ||||||||||||
Diluted earnings per common share (in dollars per share) | $ 1.07 | $ 1.33 | $ 1.24 | $ 1 | $ 1.23 | $ 1.19 | $ 1 | $ 1 | $ 0.81 | $ 1.05 | $ 0.83 | $ 0.83 | $ 4.65 | $ 4.43 | $ 3.51 |
Note 21 - Derivatives (Details
Note 21 - Derivatives (Details Textual) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2020 |
Interest Rate Lock Commitments [Member] | |||
Derivative, Notional Amount | $ 6,923,000 | $ 20,340,000 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 123,000 | 657,000 | |
Forward Contracts [Member] | |||
Derivative, Notional Amount | 6,250,000 | 20,500,000 | |
Derivative, Fair Value, Net, Total | $ 62,000 | $ 6,000 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | |||
Derivative, Notional Amount | $ 30,000,000 |
Note 21 - Derivatives - Summary
Note 21 - Derivatives - Summary of Fair Value Hedge Relationships (Details) - Interest Rate Swap [Member] - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Weighted Average Remaining Maturity (Year) | 7 years 5 months 1 day | 8 years 5 months 1 day |
Notional Amount | $ 30,000 | $ 30,000 |
Other Assets [Member] | ||
Estimated Fair Value | $ 4,520 | $ 1,192 |
London Interbank Offered Rate (LIBOR) Swap Rate [Member] | ||
Weighted Average Pay Rate | 0.65% | 0.65% |
Note 21 - Derivatives - Income
Note 21 - Derivatives - Income Statement Effects of Fair Value Hedge Relationships (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Hedged items | $ (3,265) | $ (1,125) |
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||
Derivative designated as hedging instruments | $ 3,328 | $ 1,243 |
Note 21 - Derivatives - Amounts
Note 21 - Derivatives - Amounts Recorded on the Balance Sheet Related to Cumulative Basis Adjustments for Fair Value Hedges (Details) - Fair Value Hedging [Member] - Designated as Hedging Instrument [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Carrying Amount of the Hedged Assets | $ 25,452 | $ 28,717 |
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets | $ (4,548) | $ (1,283) |
Note 21 - Derivatives - Net Gai
Note 21 - Derivatives - Net Gains (Losses) Relating to Free-standing Derivative Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest Rate Contract [Member] | ||
Net gains (losses) | $ (535) | $ (57) |
Forward Contracts [Member] | ||
Net gains (losses) | $ 56 | $ 163 |
Note 21 - Derivatives - Amount
Note 21 - Derivatives - Amount and Fair Value of Mortgage Banking Derivatives (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Interest Rate Contract [Member] | ||
Derivative, amount | $ 6,923,000 | $ 20,340,000 |
Derivative, net | 123,000 | 657,000 |
Forward Contracts [Member] | ||
Derivative, amount | 6,250,000 | 20,500,000 |
Derivative, net | $ 62,000 | $ 6,000 |
Note 22 - Disclosures About F_3
Note 22 - Disclosures About Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 39,813 | $ 39,632 | $ 38,539 | $ 28,726 |
Impaired Financing Receivable, Related Allowance | $ 0 | |||
Investment Securites, Transfers Between Levels 1, 2 Or 3 | 0 | |||
Collateral Pledged [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 0 |
Note 22 - Disclosures About F_4
Note 22 - Disclosures About Fair Value of Financial Instruments - Fair Value of Financial Instruments Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities, Available-for-Sale, Total | $ 822,812 | $ 822,812 | $ 897,585 |
US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 6,497 | 7,221 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 145,212 | 159,230 | |
Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 444,438 | 461,777 | |
Asset-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 45,250 | 46,713 | |
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 2,403 | 2,575 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 179,012 | 220,069 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | |||
Hedged Loans | 25,452 | 28,717 | |
Debt Securities, Available-for-Sale, Total | 822,812 | 897,585 | |
Mortgage loans held for sale | 3,355 | 11,843 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 4,705 | 1,855 | |
Other investments | 1,965 | 2,034 | |
Total assets | 858,289 | 942,034 | |
Derivative instruments | 0 | 0 | |
Total liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 6,497 | 7,221 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 145,212 | 159,230 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 444,438 | 461,777 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Asset-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 45,250 | 46,713 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 2,403 | 2,575 | |
Fair Value, Recurring [Member] | Reported Value Measurement [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 179,012 | 220,069 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Hedged Loans | 0 | 0 | |
Debt Securities, Available-for-Sale, Total | 6,497 | 7,221 | |
Mortgage loans held for sale | 0 | 0 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 0 | 0 | |
Other investments | 0 | 0 | |
Total assets | 6,497 | 7,221 | |
Derivative instruments | 0 | 0 | |
Total liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 6,497 | 7,221 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Hedged Loans | 25,452 | 28,717 | |
Debt Securities, Available-for-Sale, Total | 816,315 | 890,364 | |
Mortgage loans held for sale | 3,355 | 11,843 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 4,705 | 1,855 | |
Other investments | 0 | 0 | |
Total assets | 849,827 | 932,779 | |
Derivative instruments | 0 | 0 | |
Total liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 145,212 | 159,230 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 444,438 | 461,777 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 45,250 | 46,713 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 2,403 | 2,575 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 179,012 | 220,069 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Hedged Loans | 0 | 0 | |
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Mortgage loans held for sale | 0 | 0 | |
Derivative Asset, Subject to Master Netting Arrangement, before Offset | 0 | 0 | |
Other investments | 1,965 | 2,034 | |
Total assets | 1,965 | 2,034 | |
Derivative instruments | 0 | 0 | |
Total liabilities | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US Treasury and Other US Government Agencies Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-Backed Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | 0 | 0 | |
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-Sale, Total | $ 0 | $ 0 |
Note 22 - Disclosures About F_5
Note 22 - Disclosures About Fair Value of Financial Instruments - Fair Value of Financial Instruments Measured on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Reported Value Measurement [Member] | |||
Other real estate owned | $ 0 | $ 0 | |
Collateral dependent loans (¹) | [1] | 638 | |
Total assets | 638 | 668 | |
Impaired loans, net (¹) | [1] | 668 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Other real estate owned | 0 | 0 | |
Collateral dependent loans (¹) | [1] | 0 | |
Total assets | 0 | 0 | |
Impaired loans, net (¹) | [1] | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Other real estate owned | 0 | 0 | |
Collateral dependent loans (¹) | [1] | 0 | |
Total assets | 0 | 0 | |
Impaired loans, net (¹) | [1] | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Other real estate owned | 0 | 0 | |
Collateral dependent loans (¹) | [1] | 638 | |
Total assets | $ 638 | 668 | |
Impaired loans, net (¹) | [1] | $ 668 | |
[1]As of September 30, 2022 no valuation allowance was recorded on collateral dependent loans. As of December 31, 2021 no valuation allowance was recorded on impaired loans. |
Note 22 - Disclosures About F_6
Note 22 - Disclosures About Fair Value of Financial Instruments - Additional Information on Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring [Member] - Measurement Input, Discount Rate [Member] - Fair Value, Inputs, Level 3 [Member] - Weighted Average [Member] | Dec. 31, 2022 | [1] |
Collateral dependent loans | 0.10 | |
Other real estate owned | 0.10 | |
[1]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. |
Note 22 - Disclosures About F_7
Note 22 - Disclosures About Fair Value of Financial Instruments - Changes in Fair Value Due to Observable Factors (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Fair value, other assets | $ 2,034 | |
Fair value, other liabilities | 2,034 | $ 0 |
Total realized gains included in income, other assets | (69) | |
Total realized gains included in income, other liabilities | 34 | |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other assets | 0 | |
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held, other liabilities | 0 | |
Purchases, issuances and settlements, net, other assets | 0 | |
Purchases, issuances and settlements, net, other liabilities | 2,000 | |
Transfers out of Level 3, other assets | 0 | |
Transfers out of Level 3, other liabilities | 0 | |
Fair value, other assets | 1,965 | 2,034 |
Fair value, other liabilities | 2,034 | |
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 | $ (69) | |
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 | $ 34 |
Note 22 - Disclosures About F_8
Note 22 - Disclosures About Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Mortgage servicing rights | $ 1,252 | ||
Reported Value Measurement [Member] | |||
Cash and cash equivalents | 104,789 | $ 453,418 | |
Loans, net | 3,088,344 | 2,444,282 | |
Mortgage servicing rights | 1,065 | ||
Deposits | 3,892,705 | 3,555,071 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | [1] | 104,789 | 453,418 |
Loans, net | [1] | 2,992,161 | 2,439,539 |
Mortgage servicing rights | 1,252 | ||
Deposits | [1] | 3,210,581 | 3,227,520 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 104,789 | 453,418 | |
Loans, net | 0 | 0 | |
Mortgage servicing rights | 0 | ||
Deposits | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 0 | 0 | |
Mortgage servicing rights | 1,252 | ||
Deposits | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Cash and cash equivalents | 0 | 0 | |
Loans, net | 2,992,161 | 2,439,539 | |
Mortgage servicing rights | 0 | ||
Deposits | $ 3,210,581 | $ 3,227,520 | |
[1]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. |
Note 23 - Wilson Bank Holding_3
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred income taxes | $ 51,323,000 | $ 12,792,000 | |||
Total assets | 4,285,650,000 | 3,989,596,000 | |||
Other liabilities | 1,575,000 | 1,660,000 | |||
Total liabilities | 3,925,198,000 | 3,575,879,000 | |||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 11,472,181 and 11,201,504 shares issued and outstanding, respectively | 22,944,000 | 22,403,000 | |||
Additional paid-in capital | 122,298,000 | 105,177,000 | |||
Retained earnings | 325,625,000 | 292,452,000 | |||
Noncontrolling interest in consolidated subsidiary | 15,000 | 0 | |||
Accumulated other comprehensive losses, net of taxes of $39,073 and $2,235, respectively | (110,430,000) | (6,315,000) | |||
Total stockholders’ equity | 360,452,000 | 413,717,000 | $ 380,121,000 | $ 336,984,000 | |
Total liabilities and stockholders’ equity | 4,285,650,000 | 3,989,596,000 | |||
Parent Company [Member] | |||||
Cash | [1] | 4,241,000 | 5,113,000 | ||
Investment in wholly-owned commercial bank subsidiary | 357,596,000 | 410,034,000 | |||
Deferred income taxes | 1,223,000 | 1,028,000 | |||
Refundable income taxes | 538,000 | 362,000 | |||
Total assets | 363,598,000 | 416,537,000 | |||
Other liabilities | 3,146,000 | 2,820,000 | |||
Total liabilities | 3,146,000 | 2,820,000 | |||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 11,472,181 and 11,201,504 shares issued and outstanding, respectively | 22,944,000 | 22,403,000 | |||
Additional paid-in capital | 122,298,000 | 105,177,000 | |||
Retained earnings | 325,625,000 | 292,452,000 | |||
Total stockholders’ equity | 360,452,000 | 413,717,000 | |||
Total liabilities and stockholders’ equity | $ 363,598,000 | $ 416,537,000 | |||
[1]Eliminated in consolidation. |
Note 23 - Wilson Bank Holding_4
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets (Details) (Parentheticals) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 11,472,181 | 11,201,504 |
Common stock, shares outstanding (in shares) | 11,472,181 | 11,201,504 |
Accumulated other comprehensive losses, taxes | $ 39,073 | $ 2,235 |
Parent Company [Member] | ||
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 11,472,181 | 11,201,504 |
Common stock, shares outstanding (in shares) | 11,472,181 | 11,201,504 |
Note 23 - Wilson Bank Holding_5
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information - Statements of Earnings (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other income | $ (69,000) | $ 34,000 | $ 61,000 | ||||||||||||
Directors’ fees | 650,000 | 686,000 | 634,000 | ||||||||||||
Income before Federal income tax benefits and equity in undistributed earnings of Wilson Bank | 68,076,000 | 64,158,000 | 48,110,000 | ||||||||||||
Income taxes | 15,056,000 | 14,732,000 | 9,618,000 | ||||||||||||
Net earnings | $ 12,340,000 | $ 15,190,000 | $ 14,139,000 | $ 11,373,000 | $ 13,801,000 | $ 13,342,000 | $ 11,139,000 | $ 11,144,000 | $ 8,902,000 | $ 11,532,000 | $ 9,027,000 | $ 9,031,000 | 53,042,000 | 49,426,000 | 38,492,000 |
Parent Company [Member] | |||||||||||||||
Dividends from commercial bank subsidiary | 4,200,000 | 4,300,000 | 5,000,000 | ||||||||||||
Other income | 0 | 0 | 61,000 | ||||||||||||
Income for Holding Company | 4,200,000 | 4,300,000 | 5,061,000 | ||||||||||||
Directors’ fees | 355,000 | 341,000 | 335,000 | ||||||||||||
Other | 2,187,000 | 1,575,000 | 1,264,000 | ||||||||||||
Total Non-interest Expense | 2,542,000 | 1,916,000 | 1,599,000 | ||||||||||||
Income before Federal income tax benefits and equity in undistributed earnings of Wilson Bank | 1,658,000 | 2,384,000 | 3,462,000 | ||||||||||||
Income taxes | 733,000 | 475,000 | 471,000 | ||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 2,391,000 | 2,859,000 | 3,933,000 | ||||||||||||
Equity in undistributed earnings of Wilson Bank | 50,651,000 | 46,567,000 | 34,559,000 | ||||||||||||
Net earnings | $ 53,042,000 | $ 49,426,000 | $ 38,492,000 |
Note 23 - Wilson Bank Holding_6
Note 23 - Wilson Bank Holding Company - Parent Company Financial Information - Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net earnings | $ 53,020 | $ 49,426 | $ 38,492 |
Adjustments to reconcile net earnings to net cash used in operating activities: | |||
Share based compensation expense | 1,864 | 1,428 | 1,180 |
Other liabilities | (2,602) | (383) | 1,596 |
Total adjustments | 20,187 | 12,022 | 11,746 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 73,207 | 61,448 | 50,238 |
NET CASH USED IN INVESTING ACTIVITIES | (758,902) | (530,462) | (397,752) |
Cash dividends paid on common stock | (20,880) | (14,909) | (13,013) |
Issuance of common stock related to exercise of stock options | 635 | 862 | 718 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 337,066 | 583,576 | 526,600 |
Net increase (decrease) in cash and cash equivalents | (348,629) | 114,562 | 179,086 |
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 453,418 | 338,856 | 159,770 |
CASH AND CASH EQUIVALENTS - END OF YEAR | 104,789 | 453,418 | 338,856 |
Parent Company [Member] | |||
Net earnings | 53,042 | 49,426 | 38,492 |
Adjustments to reconcile net earnings to net cash used in operating activities: | |||
Equity in earnings of commercial bank subsidiary | (54,851) | (50,867) | (39,559) |
Decrease (increase) in refundable income taxes | (176) | (120) | (110) |
Increase in deferred taxes | (195) | (174) | (229) |
Share based compensation expense | 1,866 | 1,428 | 1,180 |
Other liabilities | 14 | 113 | 0 |
Total adjustments | (53,342) | (49,620) | (38,718) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | (300) | (194) | (226) |
Dividends received from commercial bank subsidiary | 4,200 | 4,300 | 5,000 |
NET CASH USED IN INVESTING ACTIVITIES | 4,200 | 4,300 | 5,000 |
Payments made to stock appreciation rights holders | (644) | (515) | (53) |
Cash dividends paid on common stock | (20,880) | (14,909) | (13,013) |
Proceeds from sale of stock pursuant to dividend reinvestment plan | 16,117 | 11,188 | 10,056 |
Issuance of common stock related to exercise of stock options | 635 | 862 | 718 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | (4,772) | (3,374) | (2,292) |
Net increase (decrease) in cash and cash equivalents | (872) | 732 | 2,482 |
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 5,113 | 4,381 | 1,899 |
CASH AND CASH EQUIVALENTS - END OF YEAR | $ 4,241 | $ 5,113 | $ 4,381 |
Note 24 - Quarterly Financial_3
Note 24 - Quarterly Financial Data (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income | $ 44,920 | $ 42,024 | $ 37,097 | $ 33,499 | $ 33,810 | $ 33,719 | $ 31,570 | $ 30,742 | $ 30,351 | $ 30,961 | $ 31,569 | $ 30,087 | $ 157,540 | $ 129,841 | $ 122,968 |
Interest expense | 7,855 | 3,894 | 2,240 | 2,144 | 2,507 | 2,840 | 3,031 | 3,258 | 4,189 | 4,324 | 4,510 | 5,196 | 16,133 | 11,636 | 18,219 |
Net interest income | 37,065 | 38,130 | 34,857 | 31,355 | 31,303 | 30,879 | 28,539 | 27,484 | 26,162 | 26,637 | 27,059 | 24,891 | 141,407 | 118,205 | 104,749 |
Provision for credit losses | 2,596 | 2,543 | 1,625 | 1,892 | 131 | 130 | 55 | 827 | 3,065 | 1,038 | 4,124 | 1,469 | |||
Earnings before income taxes | 15,342 | 19,706 | 18,484 | 14,544 | 17,512 | 17,405 | 14,449 | 14,792 | 10,771 | 14,669 | 11,313 | 11,357 | |||
Net earnings attributable to Wilson Bank Holding Company | $ 12,340 | $ 15,190 | $ 14,139 | $ 11,373 | $ 13,801 | $ 13,342 | $ 11,139 | $ 11,144 | $ 8,902 | $ 11,532 | $ 9,027 | $ 9,031 | $ 53,042 | $ 49,426 | $ 38,492 |
Basic earnings per common share (in dollars per share) | $ 1.08 | $ 1.33 | $ 1.25 | $ 1.01 | $ 1.23 | $ 1.19 | $ 1 | $ 1.01 | $ 0.81 | $ 1.05 | $ 0.83 | $ 0.83 | $ 4.66 | $ 4.44 | $ 3.52 |
Diluted earnings per common share (in dollars per share) | $ 1.07 | $ 1.33 | $ 1.24 | $ 1 | $ 1.23 | $ 1.19 | $ 1 | $ 1 | $ 0.81 | $ 1.05 | $ 0.83 | $ 0.83 | $ 4.65 | $ 4.43 | $ 3.51 |
Note 25 - Revenue From Contra_3
Note 25 - Revenue From Contracts With Customers - Schedule of Non-interest Income From Customer Contracts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Fees and gains on sales of mortgage loans(1) | $ 2,973 | $ 9,997 | $ 9,560 | |
BOLI and annuity earnings(1) | 1,346 | 1,109 | 959 | |
Security gain (loss), net(1) | (1,620) | 28 | 882 | |
Revenue from contract with customer, total non-interest income | 27,420 | 32,850 | 29,795 | |
Fees and Gains on Sales of Mortgage Loans [Member] | ||||
Fees and gains on sales of mortgage loans(1) | [1] | 2,973 | 9,997 | 9,560 |
Service Charges on Deposits [Member] | ||||
Revenue from contract with customer, non-interest income | 7,382 | 6,137 | 5,659 | |
Debit and Credit Card Interchange Income [Member] | ||||
Revenue from contract with customer, non-interest income | 8,416 | 7,783 | 5,842 | |
Brokerage Income [Member] | ||||
Revenue from contract with customer, non-interest income | 6,929 | 6,368 | 4,837 | |
BOLI and Annuity Earnings [Member] | ||||
BOLI and annuity earnings(1) | [1] | 1,346 | 1,109 | 959 |
Security Gain (Loss), Net [Member] | ||||
Security gain (loss), net(1) | [1] | (1,620) | 28 | 882 |
Other Non-interest income [Member] | ||||
Revenue from contract with customer, non-interest income | $ 1,994 | $ 1,428 | $ 2,056 | |
[1]Not within the scope of ASC Topic 606. |