WILSON BANK HOLDING CO
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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EX-13.1 · Change in Accounting Principle
Change in Accounting Principle
As discussed in Note 1 to the financial statements, the Company changed its method for accounting for allowance or credit losses effective January 1, 2022, due to the adoption of Financial Accounting Standards Board Accounting Standards Codification No. 326, Financial Instrument - Credit Losses (“ASC 326”). The Company adopted the new credit loss standard using the ;modified retrospective method provided in Accounting Standards Update No. 2016-13 such that prior period amounts are not adjusted and continue to be reported in accordance with previously applicable generally accepted accounting principles.
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