WILSON BANK HOLDING CO

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

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Contents

EX-13.1 · Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Dollars In Thousands
	2023	2022	2021
OPERATING ACTIVITIES
Consolidated net income	$48,992	53,020	49,426
Adjustments to reconcile consolidated net income to net cash provided by operating activities
Provision for credit losses	3,311	7,642	1,405
Deferred income taxes provision	(2,029)	(2,051)	(932)
Depreciation and amortization of premises and equipment	4,313	4,462	4,235
Loss (gain) on disposal of premises and equipment	55	(291)	43
Net amortization of securities	2,879	4,003	5,377
Net realized losses (gains) on sales of securities	1,009	1,620	(28)
Gains on mortgage loans sold, net	(2,635)	(2,973)	(9,997)
Stock-based compensation expense	1,948	1,864	1,428
Loss on other real estate	—	—	15
Loss (gain) on sale of other assets	10	(8)	(6)
Increase in value of life insurance and annuity contracts	(1,667)	(1,345)	(1,109)
Mortgage loans originated for resale	(73,984)	(106,601)	(215,813)
Proceeds from sale of mortgage loans	77,680	118,062	233,441
Gain on lease modification	(1,463)	—	—
Right of use asset amortization	29	397	387
Change in
Accrued interest receivable	(3,800)	(3,756)	(125)
Other assets	9,373	248	(4,458)
Accrued interest payable	21,055	1,516	(1,458)
Other liabilities	1,028	(2,602)	(383)
TOTAL ADJUSTMENTS	37,112	20,187	12,022
NET CASH PROVIDED BY OPERATING ACTIVITIES	86,104	73,207	61,448
INVESTING ACTIVITIES
Activities in available for sale securities
Purchases	(51,116)	(200,075)	(530,155)
Sales	32,740	42,728	39,652
Maturities, prepayments and calls	56,364	85,544	149,861
Redemptions of restricted equity securities	921	732	—
Net increase in loans	(442,452)	(673,871)	(164,095)
Purchase of buildings, leasehold improvements, and equipment	(4,643)	(5,022)	(8,922)
Proceeds from sale of premises and equipment	—	1,758	—
Proceeds from sale of other assets	49	34	109
Proceeds from sale of other real estate	—	—	167
Purchase of life insurance and annuity contracts	—	(10,978)	(15,079)
Redemption of annuity contracts	419	248	—
Increase in other investments	—	—	(2,000)
NET CASH USED IN INVESTING ACTIVITIES	(407,718)	(758,902)	(530,462)
FINANCING ACTIVITIES
Net change in deposits - non-maturing	(324,417)	163,933	612,696
Net change in deposits - time	798,818	173,701	(18,220)
Net change in Federal Home Loan Bank Advances	—	—	(3,638)
Change in escrow balances	(1,631)	3,549	(4,403)
Repayment of finance lease obligation	(30)	(26)	—
Noncontrolling interest contributions	—	37	—
Issuance of common stock related to exercise of stock options	1,044	635	862
Issuance of common stock pursuant to dividend reinvestment plan	12,979	16,117	11,188
Cash dividends paid on common stock	(17,303)	(20,880)	(14,909)
NET CASH PROVIDED BY FINANCING ACTIVITIES	469,460	337,066	583,576
NET CHANGE IN CASH AND CASH EQUIVALENTS	147,846	(348,629)	114,562
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR	104,789	453,418	338,856
CASH AND CASH EQUIVALENTS - END OF YEAR	$252,635	104,789	453,418

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.