WILSON BANK HOLDING CO
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Feb 28, 2025
WBHCStored price and day change unavailable
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Dollars In Thousands | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| OPERATING ACTIVITIES | |||
| Consolidated net income | $56,664 | 48,992 | 53,020 |
| Adjustments to reconcile consolidated net income to net cash provided by operating activities | |||
| Provision for credit losses | 4,600 | 3,311 | 7,642 |
| Deferred income taxes provision | (551) | (2,029) | (2,051) |
| Depreciation and amortization of premises and equipment | 4,133 | 4,313 | 4,462 |
| Loss (gain) on sale of fixed assets | 303 | 55 | (291) |
| Net amortization of securities | 1,699 | 2,879 | 4,003 |
| Net realized losses on sales of securities | 2,742 | 1,009 | 1,620 |
| Gains on mortgage loans sold, net | (3,068) | (2,635) | (2,973) |
| Stock-based compensation expense | 1,567 | 1,948 | 1,864 |
| Loss (gain) on sale of other assets | 8 | 10 | (8) |
| Increase in value of life insurance and annuity contracts | (1,817) | (1,667) | (1,345) |
| Mortgage loans originated for resale | (52,549) | (73,984) | (106,601) |
| Proceeds from sale of mortgage loans | 55,382 | 77,680 | 118,062 |
| Gain on lease modification | — | (1,463) | — |
| Right of use asset amortization | 407 | 29 | 397 |
| Amortization of mortgage servicing rights | 343 | 227 | 532 |
| Change in | |||
| Accrued interest receivable | (1,717) | (3,800) | (3,756) |
| Other assets | (6,315) | 9,146 | (284) |
| Accrued interest payable | 1,525 | 21,055 | 1,516 |
| Other liabilities | (1,375) | 1,028 | (2,602) |
| TOTAL ADJUSTMENTS | 5,317 | 37,112 | 20,187 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 61,981 | 86,104 | 73,207 |
| INVESTING ACTIVITIES | |||
| Activities in available for sale securities | |||
| Purchases | (169,439) | (51,116) | (200,075) |
| Sales | 86,248 | 32,740 | 42,728 |
| Maturities, prepayments and calls | 61,848 | 56,364 | 85,544 |
| Redemptions (purchases) of restricted equity securities | (440) | 921 | 732 |
| Net increase in loans | (495,811) | (442,452) | (673,871) |
| Purchase of buildings, leasehold improvements, and equipment | (3,494) | (4,643) | (5,022) |
| Proceeds from sale of premises and equipment | — | — | 1,758 |
| Proceeds from sale of other assets | 65 | 49 | 34 |
| Purchase of life insurance and annuity contracts | (710) | — | (10,978) |
| Redemption of annuity contracts | 523 | 419 | 248 |
| NET CASH USED IN INVESTING ACTIVITIES | (521,210) | (407,718) | (758,902) |
| FINANCING ACTIVITIES | |||
| Net change in deposits - non-maturing | 219,543 | (324,417) | 163,933 |
| Net change in deposits - time | 243,385 | 798,818 | 173,701 |
| Change in escrow balances | (1,285) | (1,631) | 3,549 |
| Repayment of finance lease obligation | (34) | (30) | (26) |
| Noncontrolling interest contributions | — | — | 37 |
| Issuance of common stock related to exercise of stock options | 575 | 1,044 | 635 |
| Issuance of common stock pursuant to dividend reinvestment plan | 14,732 | 12,979 | 16,117 |
| Repurchase of common stock | (2,181) | — | — |
| Cash dividends paid on common stock | (20,552) | (17,303) | (20,880) |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 454,183 | 469,460 | 337,066 |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (5,046) | 147,846 | (348,629) |
| CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 252,635 | 104,789 | 453,418 |
| CASH AND CASH EQUIVALENTS - END OF YEAR | $247,589 | 252,635 | 104,789 |
Consolidated Statements of Cash Flows, Continued
| Dollars In Thousands | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for: | |||
| Interest | $125,284 | $62,624 | $14,617 |
| Taxes | $18,844 | $16,511 | $19,446 |
| Non-cash investing and financing activities: | |||
| Change in fair value of securities available-for-sale, net of taxes of $22 in 2024, $(7,878) in 2023, and $36,838 in 2022, | $(68) | $22,267 | $(104,115) |
| Non-cash transfers from loans to other real estate | $— | $— | $— |
| Non-cash transfers from other real estate to loans | $— | $— | $— |
| Non-cash transfers from loans to other assets | $60 | $— | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.