WILSON BANK HOLDING CO, 10-K filed on 3/6/2023
Annual Report
v3.22.4
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    
v3.22.4
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
v3.22.4
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) $ 2.00   $ 2.00    
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    
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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    
v3.22.4
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
v3.22.4
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)
v3.22.4
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, the Bank began operations with a newly-formed joint venture, Encompass Home Lending, LLC. Encompass offers residential mortgage banking services to customers of certain home builders in our markets. All significant intercompany accounts and transactions have been eliminated in consolidation.

 

 

(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 a member of the Federal Reserve, Wilson Bank is subject to regulations of the Tennessee Department of Financial Institutions and the Federal Deposit Insurance Corporation (“FDIC”). The 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 the main office and twenty-eight branch locations.

 

 

(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. The types of lending in which the Company engages are described in note 2. The Company does not have any significant concentrations to any one industry or customer other than as disclosed in note 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 days past due unless the credit is well-secured and in process of collection. Credit card loans and other personal loans are typically charged off no later than when they become 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful.

 

All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

 

(f)

Allowance for Credit Losses - Loans

 

On  January 1, 2022, the Company adopted Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as subsequently updated for certain clarifications, targeted relief and codification improvements. Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”) replaces the previous “incurred loss” model for measuring credit losses, which encompassed allowances for current known and inherent losses within the portfolio, with an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. The new current expected credit loss (“CECL”) model requires the measurement of all expected credit losses for financial assets measured at amortized cost and certain off-balance-sheet credit exposures based on historical experience, current conditions, and reasonable and supportable forecasts. ASC 326 also requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASC 326 includes certain changes to the accounting for available-for-sale securities including the requirement to present credit losses as an allowance rather than as a direct write-down for available-for-sale securities management does not intend to sell or believes that it is more likely than not they will be required to sell.

 

Effective January 1, 2022, the Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Upon adoption, the Company recognized an after-tax cumulative effect increase to retained earnings totaling $1.0 million. Operating results for periods after  January 1, 2022 are presented in accordance with ASC 326 while prior period amounts continue to be reported in accordance with previously applicable standards and the accounting policies described below.

 

In connection with the adoption of ASC 326, the Company revised certain accounting policies and implemented certain accounting policy elections. The revised accounting policies are described below.

 

The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326 that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectability over the loans' contractual terms, adjusted for expected prepayments when appropriate. Relevant available information includes historical credit loss experience, current conditions and reasonable and supportable forecasts. While historical credit loss experience provides the basis for the estimation of expected credit losses, adjustments to historical loss information  may be made for differences in current portfolio-specific risk characteristics, environmental conditions or other relevant factors. The allowance for credit losses is measured on a collective basis for portfolios of loans when similar risk characteristics exist. Loans that do not share risk characteristics are evaluated for expected credit losses on an individual basis and excluded from the collective evaluation. Expected credit losses for collateral dependent loans, including loans where the borrower is experiencing financial difficulty but foreclosure is not probable, are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.

 

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 expected to be collected over the estimated life of a loan. Estimates of future expected cash flows ultimately reflect assumptions made concerning net credit losses over the life of a loan. The use of reasonable and supportable forecasts requires significant judgment. Management leverages economic projections from reputable and independent third parties to inform and provide its reasonable and supportable economic forecasts. The Company’s model reverts to a straight line basis for purposes of estimating cash flows beyond a period deemed reasonable and supportable. The Company forecasts probability of default and loss given default based on economic forecast scenarios over an eight quarter time period before reverting to a straight line basis for a four quarter time period. The duration of the forecast horizon, the period over which forecasts revert to a straight line basis, the economic forecasts that management utilizes, as well as additional internal and external indicators of economic forecasts that management considers,  may change over time depending on the nature and composition of our loan portfolio. Changes in economic forecasts, in conjunction with changes in loan specific attributes, impact a loan’s probability of default and loss given default, which can drive changes in the determination of the ACL. Expectations of future cash flows are discounted at the loan’s effective interest rate. The resulting ACL represents the amount by which the loan’s amortized cost exceeds the net present value of a loan’s discounted cash flows expected to be collected. The ACL is recorded through a charge to provision for credit losses and is reduced by charge-offs, net of recoveries on loans previously charged-off. It is the Company’s policy to charge-off loan balances at the time they have been deemed uncollectible.

 

For segments where the discounted cash flow methodology is not used, a remaining life methodology is utilized. The remaining life method uses an average annual charge-off rate applied to the contractual term, further adjusted for estimated prepayments to determine the unadjusted historical charge-off rate for the remaining balance of assets.

 

The estimated credit losses for all loan segments are adjusted for changes in qualitative factors not inherently considered in the quantitative analyses. The qualitative categories and the measurements used to quantify the risks within each of these categories are subjectively selected by management. The data for each measurement  may be obtained from internal or external sources. The current period measurements are evaluated and assigned a factor commensurate with the current level of risk relative to past measurements over time. The resulting qualitative adjustments are applied to the relevant collectively evaluated loan portfolios. These adjustments are based upon the following:

 

 1.

Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses.

  

 

 

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 share similar risk characteristics with the collectively evaluated pools are evaluated on an individual basis and are excluded from the collectively evaluated pools. Individual evaluations are generally performed for loans greater than $500,000 which have experienced significant credit deterioration. Such loans are evaluated for credit losses based on either discounted cash flows or the fair value of collateral. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral, less selling costs. For loans for which foreclosure is not probable, but for which repayment is expected to be provided substantially through the operation or sale of the collateral, the Company has elected the practical expedient under ASC 326 to estimate expected credit losses based on the fair value of collateral, with selling costs considered in the event sale of the collateral is expected. Loans for which terms have been modified in a TDR are evaluated using these same individual evaluation methods. In the event the discounted cash flow method is used for a TDR, the original interest rate is used to discount expected cash flows. 

 

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 have been conducted by third-party reviewers including regulatory examiners. The Company incorporates relevant loan review results in the allowance.

 

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 unconditionally cancellable by the Company.

 

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 on  January 1, 2022, which introduced the CECL methodology for credit losses, the allowance for loan losses was composed of the result of two independent analyses pursuant to the provisions of ASC 450-20, Loss Contingencies and ASC 310-10-35, Receivables. The ASC 450-20 analysis was intended to quantify the inherent risks in the performing loan portfolio. The ASC 310-10-35 analysis included a loan-by-loan analysis of impaired loans, primarily consisting of loans reported as nonaccrual or troubled-debt restructurings.

 

The allowance allocation began with a process of estimating the probable losses in each of the twelve loan segments. The estimates for these loans were based on our historical loss data for that category over twenty quarters. Each segment was then analyzed such that an allocation of the allowance was estimated for each loan segment.

 

The estimated loan loss allocation for all twelve loan portfolio segments was then adjusted for several “environmental” factors. The allocation for environmental factors was particularly subjective and did not lend itself to exact mathematical calculation. This amount represented estimated probable inherent credit losses which existed, but had not yet been identified, as of the balance sheet date, and were based upon quarterly trend assessments in delinquent and nonaccrual loans, unanticipated charge-offs, credit concentration changes, prevailing economic conditions, changes in lending personnel experience, changes in lending policies, increase in interest rates, or procedures and other influencing factors. These environmental factors were considered for each of the twelve loan segments and the allowance allocation, as determined by the processes noted above for each component, was increased or decreased through provision expense based on the incremental assessment of those various environmental factors.

 

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, representing expected credit losses over the contractual period for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. Off-balance sheet credit exposures primarily consist of amounts available under outstanding lines of credit and letters of credit. For the period of exposure, the estimate of expected credit losses considers both the likelihood that funding will occur and the amount expected to be funded over the estimated remaining life of the commitment or other off-balance sheet exposure. The likelihood and expected amount of funding are based on historical utilization rates. The amount of the allowance represents management's best estimate of expected credit losses on commitments expected to be funded over the contractual life of the commitment. The allowance is reported as a component of accrued interest and other liabilities in our consolidated balance sheets. Adjustments to the allowance are reported in our income statement as a component of provision for credit losses - off-balance sheet exposures.

 

Estimating credit losses on amounts expected to be funded uses the same methodology as described for loans in note 1 - Summary of Significant Accounting Policies, letter (f) Allowance for Credit Losses - Loans as if such commitments were funded.

 

 

(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 classified as held-to-maturity or trading, including equity securities with readily determinable fair values, are classified as “available-for-sale” and recorded at fair value based on available market prices, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss) on an after-tax basis. Securities classified as “available-for-sale” are held for indefinite periods of time and may be sold in response to movements in market interest rates, changes in the maturity or mix of Company assets and liabilities or demand for liquidity. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method.

 

A debt security is placed on nonaccrual status at the time any principal and interest payments become 90 days delinquent. Interest accrued but not received for a security placed on nonaccrual is reversed against interest income.

 

No securities have been classified as trading securities or held-to-maturity securities at December 31, 2022 or 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 it intends to sell the security, or more likely than not will be required to sell the security, before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is written down to fair value through net income. If neither criteria is met, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. If the evaluation indicates that a credit loss exists, an allowance for credit losses is recorded for the amount by which the amortized cost basis of the security exceeds the present value of cash flows expected to be collected, limited by the amount by which the amortized cost exceeds fair value. Any impairment not recognized in the allowance for credit losses is recognized in other comprehensive income.

 

 (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 maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

 

 

(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 invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.

 

 

(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] are included within non-interest expense.

 

 

(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 amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. The Company has selected September 30th as the date to perform the annual impairment test. No impairment was determined as a result of the test performed by the Company on September 30, 2022. Intangible assets with finite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on our balance sheet.

 

 
(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 record leases on the consolidated balance sheets that are classified as short term (less than one year).

 

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 contain residual value guarantees or material variable lease payments that will impact the Company’s ability to pay dividends or cause the Company to incur additional expenses.

 

Operating lease expense consists of a single lease cost allocated over the remaining lease term on a straight-line bases, variable lease payments not included in the lease liability, and any impairment of the right-of-use asset. Rent expense and variable lease expense are included in occupancy and equipment expense on the Company’s consolidated statements of earnings. The Company’s variable lease expense include rent escalators that are based on market conditions and include items such as common area maintenance, utilities, parking, property taxes, insurance and other costs associated with the lease. The amortization of the right-of-use asset arising from finance leases is expensed through occupancy and equipment expense and the interest on the related lease liability is expenses through interest expense on borrowings on the Company’s consolidated statements of earnings.

 

 

(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 longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported within non-interest income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

 

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. Late fees and ancillary fees related to loan servicing are not material.

 

 

(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 days, amounts due from banks and Federal funds sold. Generally, Federal funds sold are purchased and sold for one day periods. Management makes deposits only with financial institutions it considers to be financially sound. 

 

 

(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 be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value.

 

 

(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 Company follows accounting guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions.

 

The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur.

 

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, based on the technical merits, that the tax position will be realized or sustained upon examination. The term "more-likely-than-not" means a likelihood of more than 50 percent. The terms "examined" and "upon examination" also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized.

 

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”) requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, cash-settled stock appreciation rights (SARs), and employee share purchase plans. Because cash-settled SARs do not give the grantee the choice of receiving stock, all cash-settled SARs are accounted for as liabilities, not equity, as expense is accrued over the requisite service period.

 

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(k) and profit sharing plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service.

 

 

(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 and 2020, respectively. 

 

 

(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 be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

 

 
(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 believe there now are such matters that will have a material effect on the financial statements.

 

 
(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 operating segment, community lending services.

 

 

(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 - Disclosures About Fair Value of Financial Instruments of the consolidated financial statements. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.

 

 

(hh)

Reclassification

 

Certain reclassifications have been made to the 2021 and 2020 figures to conform to the presentation for 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 through March 1, 2023, which is the date the financial statements were available to be issued.

 

 

(kk)

Accounting Standard Updates

 

ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As noted above, effective  January 1, 2022 the Company adopted ASU 2016-13, which resulted in a $7.6 million decrease to the allowance for credit losses and a $6.2 million increase to the reserve for off-balance sheet exposures, resulting in a $1.0 million increase in retained earnings (net of taxes). See Note 2 – Loans and Allowance for Credit Losses for additional information.

 

ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” In  March 2020, the FASB issued this ASU and has issued subsequent amendments thereto, which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of  March 12, 2020 through  December 31, 2022. 

 

ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848.” In December 2022, the FASB issued this ASU, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022 to December 31, 2024. The Company has implemented a transition plan to identify and modify its loans and other financial instruments with attributes that are either directly or indirectly influenced by LIBOR. The Company discontinued originating LIBOR-based loans during 2022 and has begun negotiating loans primarily using its preferred replacement index, the Secured Overnight Financing Rate ("SOFR"). For the Company’s currently outstanding LIBOR-based loans, the timing and manner in which each customer's contract transitions to SOFR will vary on a case-by-case basis. The Company expects to complete all transitions by  August 2023.

 

ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.” ASU 2022-01 was issued to expand the scope of assets eligible for portfolio layer method hedging to include all financial assets. The update also expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. The last-of-layer method is renamed the portfolio layer method, because more than the last layer of a portfolio could be hedged.  The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after  December 15, 2022. The adoption of ASU 2022-01 did not have a significant impact on our financial statements.

 

ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 was issued to respond to feedback received from post-implementation review of Topic 326. The amendments eliminate the troubled debt restructuring (TDR) recognition and measurement guidance and now require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20.  The guidance is effective for public business entities for fiscal years, and interim periods within 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 other recently issued accounting pronouncements that are expected to materially impact the Company.
v3.22.4
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 and the allowance for loan losses at December 31, 2021 and any deferred fees or costs on originated loans. Interest income on loans is accrued based on the principal balance outstanding. Loan origination fees, net of certain loan origination costs, are deferred and recognized as an adjustment to the related loan yield using a method which approximates the interest method.

 

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 and 2021 is as follows: 

 

  

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, variable rate and fixed rate loans totaled $2,546,325,000 and $621,437,000, respectively. At December 31, 2021, variable rate and fixed rate loans totaled $1,916,960,000 and $578,978,000, respectively.

 

Risk characteristics relevant to each portfolio segment are as follows:

 

Construction, land development and farmland: Loans for non-owner-occupied real estate construction or land development are generally repaid through cash flow related to the operation, sale or refinance of the property. The Company also finances construction loans for owner-occupied properties. A portion of the Company’s construction and land portfolio segment is comprised of loans secured by residential product types (residential land and single-family construction). With respect to construction loans to developers and builders that are secured by non-owner occupied properties that the Company may originate from time to time, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, market sales activity, and financial analysis of the developers and property owners. Construction loans are generally based upon estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing.

 

Residential 1-4 family real estate: Residential real estate loans represent loans to consumers or investors to finance a residence. These loans are typically financed on 15 to 30 year amortization terms, but generally with shorter maturities of 5 to 15 years. Many of these loans are extended to borrowers to finance their primary or secondary residence. Loans to an investor secured by a 1-4 family residence will be repaid from either the rental income from the property or from the sale of the property. This loan segment also includes closed-end home equity loans that are secured by a first or second mortgage on the borrower’s residence. This allows customers to borrow against the equity in their home. Loans in this portfolio segment are underwritten and approved based on a number of credit quality criteria including limits on maximum Loan-to-Value (LTV), minimum credit scores, and maximum debt to income. Real estate market values as of the time the loan is made directly affect the amount of credit extended and, in addition, changes in these residential property values impact the depth of potential losses in this portfolio segment.

 

1-4 family equity lines of credit: This loan segment includes open-end home equity loans that are secured by a first or second mortgage on the borrower’s residence. This allows customers to borrow against the equity in their home utilizing a revolving line of credit. These loans are underwritten and approved based on a number of credit quality criteria including limits on maximum LTV, minimum credit scores, and maximum debt to income. Real estate market values as of the time the loan is made directly affect the amount of credit extended and, in addition, changes in these residential property values impact the depth of potential losses in this portfolio segment. Because of the revolving nature of these loans, as well as the fact that many represent second mortgages, this portfolio segment can contain more risk than the amortizing 1-4 family residential real estate loans.

 

Commercial and multi-family real estate: Commercial and multi-family real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans (which are discussed below), in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by 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 be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single market or industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. The Company also utilizes third-party experts to provide insight and guidance about economic conditions and trends affecting the market areas it serves. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. Non-owner occupied commercial real estate loans are loans secured by multifamily and commercial properties where the primary source of repayment is derived from rental income associated with the property (that is, loans for which 50 percent or more of the source of repayment comes from third party, nonaffiliated rental income) or the proceeds of the sale, refinancing, or permanent financing of the property. These loans are made to finance income-producing properties such as apartment buildings, office and industrial buildings, and retail properties. Owner-occupied commercial real estate loans are loans where the primary source of repayment is the cash flow from the ongoing operations and business activities conducted by the party, or affiliate of the party, who owns the property.

 

Commercial and industrial: The commercial and industrial loan portfolio segment includes commercial and industrial loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases or other expansion projects. Also included in this category are PPP loans guaranteed by the SBA, which totaled $89,000 at December 31, 2022 and $5.0 million at December 31, 2021. Collection risk in this portfolio is driven by the creditworthiness of underlying borrowers, particularly cash flow from customers’ business operations. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral, if any, provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans, if any, may fluctuate in value. Most commercial and industrial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and usually incorporates a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

 

Consumer: The consumer loan portfolio segment includes non-real estate secured direct loans to consumers for household, family, and other personal expenditures. Consumer loans may be secured or unsecured and are usually structured with short or medium term maturities. These loans are underwritten and approved based on a number of consumer credit quality criteria including limits on maximum LTV on secured consumer loans, minimum credit scores, and maximum debt to income. Many traditional forms of consumer installment credit have standard monthly payments and fixed repayment schedules of one to five years. These loans are made with either fixed or variable interest rates that are based on specific indices. Installment loans fill a variety of needs, such as financing the purchase of an automobile, a boat, a recreational vehicle or other large personal items, or for consolidating debt. These loans may be unsecured or secured by an assignment of title, as in an automobile loan, or by money in a bank account. In addition to consumer installment loans, this portfolio segment also includes secured and unsecured personal lines of credit as well as overdraft protection lines. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures.

 

The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of  December 31, 2022 and 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, the Company had no collateral dependent loans that were on non-accruing interest status. At  December 31, 2021, the Company had no impaired loans that were on non-accruing interest status.

 

There was no impact on net interest income given the lack of these types of loans for the years ended December 31, 2022 and  December 31, 2021. The impact on net interest income for these loans was not material to the Company’s results of operations for the year ended  December 31, 2020.

 

Potential problem loans, which include nonperforming loans, amounted to approximately $6.4 million at  December 31, 2022 compared to $7.7 million at December 31, 2021. Potential problem loans represent those loans with a well-defined weakness and where information about possible credit problems of borrowers has caused management to have serious doubts about the borrower’s ability to comply with present repayment terms. This definition is believed to be substantially consistent with the standards established by the FDIC, the Company’s primary federal regulator, for loans classified as special mention, substandard, or doubtful, excluding the impact of nonperforming loans.

 

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 result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date.

   
 

•

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 corrected.

   
 

•

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 and 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 origination 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 be partially charged-off after a “confirming event” has occurred which serves to validate that full repayment pursuant to the terms of the loan is unlikely.

 

Transactions in the allowance for credit losses for the year ended  December 31, 2022 is summarized as follows:

 

  

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 and  December 31, 2020, as determined in accordance with ASC 310 prior to the adoption of ASC 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 which are individually evaluated to determine expected credit losses:

 

  

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 as determined under ASC 310 prior to the adoption of ASC 326. Impaired loans generally include nonaccrual loans, troubled debt restructurings, and other loans deemed to be impaired but that continue to accrue interest. Presented are the recorded investment, unpaid principal balance and related allowance of impaired loans at  December 31, 2021 by loan classification:

 

  

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 only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.

 

The following table summarizes the carrying balances of TDRs at  December 31, 2022 and  December 31, 2021 (dollars in thousands):

 

  

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  and 2020 (dollars in thousands):

 

  

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 and 2020 the Company did not have any loan previously classified as a TDR default within twelve months of the restructuring. A default is defined as an occurrence which violates the terms of the receivable’s contract.

 

As of  December 31, 2022 the Bank had $11,000 of consumer mortgage loans in the process of foreclosure. As of December 31, 2021 the Bank had $262,000 of consumer mortgage loans in the process of foreclosure.

 

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 loans was $6,859,000 and $5,725,000 at  December 31, 2022 and 2021, respectively. None of these loans were restructured, charged-off or involved more than the normal risk of collectibility or presented other unfavorable features during the three years ended 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 and 2020, Wilson Bank originated mortgage loans for sale into the secondary market of $106,601,000, $215,813,000 and $213,483,000, respectively. The fees and gain on sale of these loans totaled $2,973,000, $9,997,000 and $9,560,000 in 2022, 2021 and 2020, respectively.

 

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 and 2021, total mortgage loans sold with recourse in the secondary market aggregated $84,162,000 and $165,061,000, respectively. At December 31, 2022, Wilson Bank has not been required to repurchase a significant amount of the mortgage loans originated by Wilson Bank and sold in the secondary market. Management expects no material losses to result from these recourse provisions.
v3.22.4
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 consist of the following:

 

  

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 was as follows:

 

  

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, there was no allowance for credit losses on available-for-sale securities. 

 

Included in mortgage-backed securities are collateralized mortgage obligations totaling $148,460,000 (fair value of $126,190,000) and $130,594,000 (fair value of $128,281,000) at  December 31, 2022 and 2021, respectively.

 

The amortized cost and estimated market value of debt securities at December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities of mortgage and asset-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

  

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 approximately $477,051,000 (approximate market value of $405,043,000) and $368,718,000 (approximate market value of $364,893,000) were pledged to secure public deposits and for other purposes as required or permitted by law at  December 31, 2022 and 2021, respectively.

 

At December 31, 2022, there were no holdings of securities of any one issuer, other than U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity. 

 

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) at December 31, 2022 and 2021, respectively, in obligations of political subdivisions located within the states of Tennessee, Alabama, and Texas.

 

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 and 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 and 2021.  As such, it is possible that a security had a market value less than its amortized cost on other days during the twelve-month periods ended December 31, 2022 and 2021, but is not in the "Investments with an Unrealized Loss of less than 12 months" category above.

 

As shown in the tables above, at December 31, 2022 and 2021, the Company had unrealized losses of $149.5 million and $14.2 million on $822.2 million and $674.0 million, respectively, of securities. As described in note 1. Summary of Significant Accounting Policies, 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 it intends to sell the security, or more-likely-than-not will be required to sell the security, before recovery of its amortized cost basis which would require a write-down to fair value through net income. Because the Company currently does not intend to sell those securities that have an unrealized loss at December 31, 2022, and it is likely that the Company will not be required to sell the securities before recovery of their amortized cost bases, which may be maturity, the Company has determined that no write-down is necessary. In addition, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration, which would require the recognition of an allowance for credit losses. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. The unrealized losses associated with securities at December 31, 2022 are driven by changes in interest rates and not due to the credit quality of the securities, and accordingly, no allowance for credit losses is considered necessary related to available-for-sale securities at December 31, 2022. These securities will continue to be monitored as a part of the Company's ongoing evaluation of credit quality.

Mortgage-Backed Securities

 

At December 31, 2022, approximately 98% of the mortgage-backed securities held by the Company were issued by U.S. government-sponsored entities and agencies. Because the decline in fair value is attributable to interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other-than-temporarily impaired (OTTI) at 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. These non-agency mortgage-backed securities were rated AAA at purchase. The Company monitors to ensure it has adequate credit support and as of December 31, 2022, the Company believes there is no OTTI and does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery. The issuers continue to make timely principal and interest payments on the bonds.

 

Obligations of States and Political Subdivisions

 

Unrealized losses on municipal bonds have not been recognized into income because the issuers bonds are of high credit quality (rated A or higher), management does not intend to sell the securities and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The issuers continue to make timely principal and interest payments on the bonds. The fair value is expected to recover as the bonds approach maturity. 
v3.22.4
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 $4,357,000 and $5,089,000 at  December 31, 2022 and 2021, respectively. The stock can be sold back only at par or a value as determined by the issuing institution and only to the respective financial institution or to another member institution. These securities are recorded at cost.
v3.22.4
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 and 2021 is as follows:

 

  

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 and 2020, payments of $379,000, $1,227,000 and $571,000, respectively, were made to an entity owned by a director for the construction of buildings and repair work on existing buildings.

 

Depreciation expense was $4,370,000, $4,235,000 and $4,250,000 for the years ended December 31, 2022, 2021 and 2020, respectively.
v3.22.4
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 previously 50% owned subsidiaries that the Company acquired 100% of in 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 

 

 
v3.22.4
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. The Company has one finance lease, which it entered into in 2022, with a lease term through 2031. These leases are classified as operating or finance leases at commencement. Right-of-use assets representing the right to use the underlying asset and lease liabilities representing the obligation to make future lease payments are recognized on the balance sheet. These assets and liabilities are estimated based on the present value of future lease payments discounted using the Company's incremental secured borrowing rates as of the commencement date of the lease. Certain lease agreements contain renewal options which are considered in the determination of the lease term if they are deemed reasonably certain to be exercised. The Company has elected not to recognize leases with an original term of less than 12 months on the balance sheet.

 

The following table represents lease assets and lease liabilities as of  December 31, 2022 and December 31, 2021 (in thousands).

 

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 and 2021 were as follows:

 

  

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 and 2021 were as follows:

 

  

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 and 2021 were as follows:

 

  

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 months at  December 31, 2022 and 2021 were as follows:

 

  

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 months at  December 31, 2022 and 2021 were as follows:

 

  

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   — 

 
v3.22.4
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 quarter of 2022, the Company began selling a portfolio of residential mortgage loans to a third party, while retaining the rights to service the loans. The principal balances of these loans as of  December 31, 2022 are as follows:

 

  

In Thousands

 

December 31, 2022

 

2022

 

Mortgage loan portfolios serviced for:

    

FHLMC

 $85,742 

 

 

For the year ended  December 31, 2022, the change in carrying value of the Company's mortgage servicing rights accounted for under the amortization method was as follows:

 

  

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 were as follows:

 

 

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%
v3.22.4
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 and 2021 are summarized as follows:

 

  

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 are as follows:

 

  

(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 and $529,000 at  December 31, 2022 and 2021, respectively.

 

The aggregate balances of related party deposits at  December 31, 2022 and 2021 were $9,743,000 and $5,806,000, respectively.

 

As of  December 31, 2022 and 2021, Wilson Bank was not required to maintain a cash balance with the Federal Reserve.
v3.22.4
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 and 2020 are presented below:

 

  

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 

 
v3.22.4
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 and 2021 were as follows:

 

  

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 and 2021 were: 

 

  

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 and 2020 are summarized as follows:

 

  

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 and 2020, respectively, to the “expected” tax expense (computed by applying the statutory rate of 21% for 2022, 2021 and 2020 to earnings before income taxes) is as follows:

 

  

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 and 2020, includes $(423,000), $7,000 and $231,000 of expense (benefit) related to the realized gain and loss on sale of securities, respectively.

 

As of December 31, 2022, 2021 and 2020 the Company has not accrued or recognized interest or penalties related to uncertain tax positions. It is the Company’s policy to recognize interest and/or penalties related to income tax matters in income tax expense.

 

No valuation allowance for deferred tax assets was recorded at December 31, 2022 and 2021 as management believes it is more likely than not that all of the deferred tax assets will be realized against deferred tax liabilities and projected future taxable income. There were no unrecognized tax benefits during any of the reported periods.

 

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 longer subject to U.S. federal or state income tax examinations by tax authorities for years before 2019. The Company’s Federal tax returns have been audited through December 31, 2005 with no changes.
v3.22.4
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 be material to the Company's consolidated financial position.

 

At December 31, 2022 and 2021, respectively, the Company has lines of credit with other correspondent banks totaling $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 borrow a maximum of $25,000,000, selecting a variable rate of interest for up to 90 days or a fixed rate for a maximum of 30 days. There were no borrowings outstanding under the CMA at  December 31, 2022 or December 31, 2021.
v3.22.4
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 violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to be drawn upon, the total commitment amounts generally represent future cash requirements. The Company evaluates each customer's credit-worthiness on a case-by-case basis. The amount of collateral, if deemed necessary by the Company upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral normally consists of real property.

 

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most guarantees extend from one to two years. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The fair value of standby letters of credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, the likelihood of the counterparties drawing on such financial instruments and the present creditworthiness of such counterparties. Such commitments have been made on terms which are competitive in the markets in which the Company operates; thus, the fair value of standby letters of credit equals the carrying value for the purposes of this disclosure. The maximum potential amount of future payments that the Company could be required to make under the guarantees totaled $118,064,000 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 and 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-party purchasers, and  may or  may not retain the servicing rights. These loans are originated internally and are primarily to borrowers in the Company’s geographic market footprint. These sales are typically to investors that follow guidelines of conventional government sponsored entities ("GSE") and the Department of Housing and Urban Development/U.S. Department of Veterans Affairs ("HUD/VA"). Generally, loans held for sale are underwritten by the Company, including HUD/VA loans. The Bank participates in a mandatory delivery program that requires the Bank to deliver a particular volume of mortgage loans by agreed upon dates. A majority of the Bank’s secondary mortgage volume is delivered to the secondary market via mandatory delivery with the remainder done on a best efforts basis. The Bank does not realize any exposure delivery penalties as the mortgage department only bids loans post-closing to ensure that 100% of the loans are deliverable to the investors. 

 

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 parties such as appraisers in connection with obtaining the loan. If it is determined that the loans sold were in breach of these representations or warranties or the loan had an early payoff or payment default, the Bank has obligations to either repurchase the loan for the unpaid principal balance and related investor fees or make the purchaser whole for the economic benefits of the loan.

 

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 have significant exposure to contingent losses that  may arise relating to the representations and warranties that it has made in connection with its mortgage loan sales or for early payoffs or payment defaults of such mortgage loans.

 

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 will not have a material impact on the Company’s consolidated financial statements.
v3.22.4
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 - Loans and Allowance for Credit Losses.

 

Interest bearing deposits totaling $2,299,000 were deposited with three commercial banks at December 31, 2022. Included in interest bearing deposits is $900,000 of collateral deposits related to our fixed rate loan hedging program deposited with one commercial bank. In addition, the Bank has funds deposited with the  FHLB of Cincinnati in the amount of $372,000. Funds deposited with the FHLB of Cincinnati are not insured by the FDIC.

 

Federal funds sold in the amount of $308,000 were deposited with one commercial bank at December 31, 2022.
v3.22.4
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(k) plan (the “401(k) Plan”) which covers eligible employees. To be eligible an employee must have obtained the age of 18. The provisions of the 401(k) Plan provide for both employee and employer contributions. For the years ended December 31, 2022, 2021 and 2020, Wilson Bank contributed $3,309,000, $3,120,000, and $2,926,000, respectively, to the 401(k) Plan.
v3.22.4
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 elect to automatically reinvest cash dividends in additional shares of common stock. The Company may elect to sell original issue shares or to purchase shares in the open market for the account of participants. Original issue shares of 250,365 in 2022, 186,583 in 2021 and 180,424 in 2020 were sold to participants under the terms of the DRIP.
v3.22.4
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 included in computing regulatory capital. Management believes as of December 31, 2022, the Bank and the Company met all capital adequacy requirements to which they are subject.

 

Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If an institution is classified as adequately capitalized or lower, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is growth and expansion, and capital restoration plans are required. As of December 31, 2022, and 2021, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category.

 

The Company's and Wilson Bank's actual capital amounts and ratios as of December 31, 2022 and  December 31, 2021 are presented in the following tables. The capital conservation buffer of 2.5% is not included in the required minimum ratios of the tables presented below.

 

                  

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


The Company and the Bank are subject to dividend restrictions set forth by the Tennessee Department of Financial Institutions and federal banking agencies, as applicable. Additional restrictions may be imposed by the Tennessee Department of Financial Institutions and federal banking agencies under the powers granted to them by law.
v3.22.4
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 and 2021, the liability related to the Plan totaled $1,575,000 and $1,660,000, respectively. At  December 31, 2022 and 2021 the liability related to the SERP Agreements totaled $4,026,000 and $3,496,000, respectively. The expense incurred for these plans totaled $789,000, $705,000 and $575,000 for the year ended  December 31, 2022, 2021 and 2020, respectively.

 

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 surrender value of $6,306,000 and $5,669,000, respectively, and an aggregate face value of insurance policies in force of $16,377,000 and $15,497,000, respectively. The life insurance policies remain the sole property of the Company and are payable to the Company.

 

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 and $40,536,000 and the face amount of the insurance policies in force approximated $121,634,000 and $98,879,000 at  December 31, 2022 and 2021, respectively.

 

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 and 2021 are the Annuity Contracts with an aggregate value of $24,135,000 and $23,861,000, respectively.
v3.22.4
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, the Company’s shareholders approved the Wilson Bank Holding Company 2009 Stock Option Plan (the “2009 Stock Option Plan”). The 2009 Stock Option Plan was effective as of April 14, 2009. Under the 2009 Stock Option Plan, awards could be in the form of options to acquire common stock of the Company. Subject to adjustment as provided by the terms of the 2009 Stock Option Plan, the maximum number of shares of common stock with respect to which awards could be granted under the 2009 Stock Option Plan was 100,000 shares. The 2009 Stock Option Plan terminated on April 13, 2019, and no additional awards may be issued under the 2009 Stock Option Plan. The awards granted under the 2009 Stock Option Plan prior to the Plan's expiration will remain outstanding until exercised or otherwise terminated. As of December 31, 2022, the Company had outstanding 5,476 options under the 2009 Stock Option Plan with a weighted average exercise price of $35.42.

 

During the second quarter of 2016, the Company’s shareholders approved the Wilson Bank Holding Company 2016 Equity Incentive Plan, which authorizes awards of up to 750,000 shares of common stock. The 2016 Equity Incentive Plan was approved by the Board of Directors and effective as of January 25, 2016 and approved by the Company’s shareholders on April 12, 2016. On September 26, 2016, the Board of Directors approved an amendment and restatement of the 2016 Equity Incentive Plan (as amended and restated the “2016 Equity Incentive Plan”) to make clear that directors who are not also employees of the Company may be awarded stock appreciation rights. The primary purpose of the 2016 Equity Incentive Plan is to promote the interest of the Company and its shareholders by, among other things, (i) attracting and retaining key officers, employees and directors of, and consultants to, the Company and its subsidiaries and affiliates, (ii) motivating those individuals by means of performance-related incentives to achieve long-range performance goals, (iii) enabling such individuals to participate in the long-term growth and financial success of the Company, (iv) encouraging ownership of stock in the Company by such individuals, and (v) linking their compensation to the long-term interests of the Company and its shareholders. Except for certain limitations, awards can be in the form of stock options (both incentive stock options and non-qualified stock options), stock appreciation rights, restricted shares and restricted share units, performance awards and other stock-based awards. As of December 31, 2022, the Company had 245,731 shares remaining available for issuance under the 2016 Equity Incentive Plan. As of December 31, 2022, the Company had outstanding under the 2016 Equity Incentive Plan 238,362 stock options with a weighted average exercise price of $56.21 and 170,940 cash-settled stock appreciation rights with a weighted average exercise price of $54.26.

 

As of December 31, 2022, under all of its equity incentive plans, the Company had outstanding 243,838 stock options with a weighted average exercise price of $55.74 and 170,940 cash-settled stock appreciation rights with a weighted average exercise price of $54.26. Included in other liabilities at  December 31, 2022 and 2021 were $3,020,000 and $2,708,000 in accrued stock appreciation rights, respectively.

 

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 and 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 and 2020 is as follows:

 

  

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 and 2020 was $22.64, $22.10 and $14.92, respectively. The total intrinsic value of options and cash-settled SARs exercised during the years 2022, 2021 and 2020 was $1,310,000, $962,000 and $463,000, respectively.

 

 

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, there was $4,766,000 of total 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 of 3.70 years.

 

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. 
v3.22.4
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 

 
v3.22.4
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, such LIBOR-based variable interest rates will transition to SOFR-based variable 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.

 

During the second quarter of 2020, the Company entered into one swap transaction with a notional amount of $30,000,000 pursuant to which the Company pays the counter-party a fixed interest rate and receives a floating rate equal to 1 month LIBOR. The derivative transaction is designated as a fair value hedge.

 

A summary of the Company's fair value hedge relationships as of December 31, 2022 and December 31, 2021 are as follows (in thousands):

 

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 months ended December 31, 2022 and 2021 were as follows (in thousands):

 

  

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 and December 31, 2021 (in thousands):

 

  

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 party investors are considered derivatives. It is the Company's practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. At  December 31, 2022 and  December 31, 2021, the Company had approximately $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 and  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 

 
v3.22.4
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”), which defines fair value, establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value measurements. The definition of fair value focuses on the exit price, i.e., the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not the entry price, i.e., the price that would be paid to acquire the asset or received to assume the liability at the measurement date. The statement emphasizes that fair value is a market-based measurement; not an entity-specific measurement. Therefore, the fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability.

 

Valuation Hierarchy

 

FASB ASC 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:

 

 

•

Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets

   
 

•

Level 2 - inputs to the valuation methodology include all prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

 

 

•

Level 3 - inputs to the valuation methodology that are unobservable and significant to the fair value measurement.  

 

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 - Where quoted prices are available for identical securities in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government securities and certain other financial products. If quoted market prices are not available, then fair values are estimated by using pricing models that use observable inputs or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. In certain cases where there is limited activity or less transparency around inputs to the valuation and more complex pricing models or discounted cash flows are used, securities are classified within Level 3 of the valuation hierarchy. Quarterly we will validate prices supplied by our third party vendor by comparison to prices obtained from third parties.

 

Hedged loans - The fair value of our hedged loan portfolio is intended to approximate the fair value that a market participant would realize in a hypothetical orderly transaction.

 

Collateral dependent loans - Collateral dependent loans are measured at the fair value of the collateral securing the loan less estimated selling costs. The fair value of real estate collateral is determined based on real estate appraisals which are generally based on recent sales of comparable properties which are then adjusted for property specific factors. Non-real estate collateral is valued based on various sources, including third party asset valuations and internally determined values based on cost adjusted for depreciation and other judgmentally determined discount factors. Collateral dependent loans are classified within Level 3 of the valuation hierarchy due to the unobservable inputs used in determining their fair value such as collateral values and the borrower's underlying financial condition.

 

Other real estate owned - Other real estate owned (“OREO”) represents real estate foreclosed upon by the Company through loan defaults by customers or acquired in lieu of foreclosure. Upon acquisition, the property is recorded at the lower of cost or fair value, based on appraised value, less selling costs estimated as of the date acquired with any loss recognized as a charge-off through the allowance for credit losses. Additional OREO losses for subsequent valuation downward adjustments are determined on a specific property basis and are included as a component of noninterest expense along with holding costs. Any gains or losses realized at the time of disposal are also reflected in noninterest income. OREO is included in Level 3 of the valuation hierarchy due to the lack of observable market inputs into the determination of fair value. Appraisal values are property-specific and sensitive to the changes in the overall economic environment.

 

Mortgage loans held for sale - Mortgage loans held for sale are carried at fair value, and are classified within Level 2 of the valuation hierarchy. The fair value of mortgage loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan.

 

Derivative instruments - The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2).

 

Other investments - Included in other investments are investments recorded at fair value primarily in certain nonpublic investments and funds. The valuation of these nonpublic investments requires management judgment due to the absence of observable quoted market prices, inherent lack of liquidity and the long-term nature of such assets. These investments are valued initially based upon transaction price. The carrying values of other investments are adjusted either upwards or downwards from the transaction price to reflect expected exit values as evidenced by financing and sale transactions with third parties. These investments are included in Level 3 of the valuation hierarchy if the entities and funds are not widely traded and the underlying investments are in privately-held and/or start-up companies for which market values are not readily available.

 

 

The following tables present the financial instruments carried at fair value as of  December 31, 2022 and December 31, 2021, by caption on the consolidated balance sheet and by FASB ASC 820 valuation hierarchy (as described above) (in thousands):

 

  

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 valuation allowance was recorded on collateral dependent loans. As of  December 31, 2021 no valuation allowance was recorded on impaired loans.

 

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 inputs to determine fair value at  December 31, 2022 and 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 include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent.

 

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 months ended December 31, 2022, there were no transfers between Levels 1, 2 or 3.

 

The table below includes a rollforward of the balance sheet amounts for the year ended  December 31, 2022 and 2021 (including the change in fair value) for financial instruments classified by the Company within Level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify a financial instrument within Level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since Level 3 financial instruments typically include, in addition to the unobservable or Level 3 components, observable components (that is, components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology (in thousands):

 

  

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 measured at fair value. In cases where quoted market prices are not available, fair values are based on estimates using discounted cash flow models. Those models are significantly affected by the assumptions used, including the discount rates, estimates of future cash flows and borrower creditworthiness. The fair value estimates presented herein are based on pertinent information available to management as of  December 31, 2022 and December 31, 2021. Such amounts have not been revalued for purposes of these consolidated financial statements since those dates and, therefore, current estimates of fair value may differ significantly from the amounts presented herein.

 

Cash and cash equivalents - The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1.

 

Loans - The fair value of our loan portfolio includes a credit risk factor in the determination of the fair value of our loans. This credit risk assumption is intended to approximate the fair value that a market participant would realize in a hypothetical orderly transaction. Our loan portfolio is initially fair valued using a segmented approach. We divide our loan portfolio into the following categories: variable rate loans, collateral dependent loans and all other loans. The results are then adjusted to account for credit risk.

 

For variable-rate loans that reprice frequently and have no significant change in credit risk, fair values approximate carrying values. Fair values for collateral dependent loans are estimated using discounted cash flow models or based on the fair value of the underlying collateral. For other loans, fair values are estimated using discounted cash flow models, using current market interest rates offered for loans with similar terms to borrowers of similar credit quality. The values derived from the discounted cash flow approach for each of the above portfolios are then further discounted to incorporate credit risk to determine the exit price.

 

Mortgage servicing rights - The fair value of servicing rights is based on the present value of estimated future cash flows of mortgages sold, stratified by rate and maturity date. Assumptions that are incorporated in the valuation of servicing rights include assumptions about prepayment speeds on mortgages and the cost to service loans.

 

Deposits and Federal Home Loan Bank advances - Fair values for deposits and Federal Home Loan Bank advances are estimated using discounted cash flow models, using current market interest rates offered on deposits with similar remaining maturities.

 

Off-balance sheet instruments - The fair values of the Company’s off-balance-sheet financial instruments are based on fees charged to enter into similar agreements. However, commitments to extend credit do not represent a significant value to the Company until such commitments are funded.

 

 

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 and December 31, 2021. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. 

 

(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.
v3.22.4
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 and 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 per share, authorized 50,000,000 shares, 11,472,181 and 11,201,504 shares issued and outstanding, respectively

  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 and $2,235, respectively

  (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 

 
v3.22.4
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 quarters ended December 31 are as follows:

 

  

(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 

 
v3.22.4
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 is recognized within noninterest income. The following table presents the Company’s sources of non-interest income for the periods presented. Items outside the scope of ASC Topic 606 are noted as such.

 

  

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 within the scope of ASC Topic 606.

 

A description of the Company's revenue streams accounted for under ASC Topic 606 follows:

 

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-party service provider. The Company receives commissions from the third-party service provider on a bi-monthly basis based upon customer activity for the month. The fees are recognized monthly when the Company satisfies the performance obligation. Because the Company (1) acts as an agent in arranging the relationship between the customer and third-party service provider and (2) does not control the services rendered to the customer, investment brokerage fees are presented net of related servicing and administration costs.
v3.22.4
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, the Bank began operations with a newly-formed joint venture, Encompass Home Lending, LLC. Encompass offers residential mortgage banking services to customers of certain home builders in our markets. All significant intercompany accounts and transactions have been eliminated in consolidation.

 
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 a member of the Federal Reserve, Wilson Bank is subject to regulations of the Tennessee Department of Financial Institutions and the Federal Deposit Insurance Corporation (“FDIC”). The 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 the main office and twenty-eight branch locations.
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. The types of lending in which the Company engages are described in note 2. The Company does not have any significant concentrations to any one industry or customer other than as disclosed in note 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 days past due unless the credit is well-secured and in process of collection. Credit card loans and other personal loans are typically charged off no later than when they become 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful.

 

All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block]

(f)

Allowance for Credit Losses - Loans

 

On  January 1, 2022, the Company adopted Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” as subsequently updated for certain clarifications, targeted relief and codification improvements. Accounting Standards Codification (“ASC”) Topic 326 (“ASC 326”) replaces the previous “incurred loss” model for measuring credit losses, which encompassed allowances for current known and inherent losses within the portfolio, with an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. The new current expected credit loss (“CECL”) model requires the measurement of all expected credit losses for financial assets measured at amortized cost and certain off-balance-sheet credit exposures based on historical experience, current conditions, and reasonable and supportable forecasts. ASC 326 also requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASC 326 includes certain changes to the accounting for available-for-sale securities including the requirement to present credit losses as an allowance rather than as a direct write-down for available-for-sale securities management does not intend to sell or believes that it is more likely than not they will be required to sell.

 

Effective January 1, 2022, the Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Upon adoption, the Company recognized an after-tax cumulative effect increase to retained earnings totaling $1.0 million. Operating results for periods after  January 1, 2022 are presented in accordance with ASC 326 while prior period amounts continue to be reported in accordance with previously applicable standards and the accounting policies described below.

 

In connection with the adoption of ASC 326, the Company revised certain accounting policies and implemented certain accounting policy elections. The revised accounting policies are described below.

 

The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326 that is deducted from the amortized cost basis of loans to present the net amount expected to be collected. The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectability over the loans' contractual terms, adjusted for expected prepayments when appropriate. Relevant available information includes historical credit loss experience, current conditions and reasonable and supportable forecasts. While historical credit loss experience provides the basis for the estimation of expected credit losses, adjustments to historical loss information  may be made for differences in current portfolio-specific risk characteristics, environmental conditions or other relevant factors. The allowance for credit losses is measured on a collective basis for portfolios of loans when similar risk characteristics exist. Loans that do not share risk characteristics are evaluated for expected credit losses on an individual basis and excluded from the collective evaluation. Expected credit losses for collateral dependent loans, including loans where the borrower is experiencing financial difficulty but foreclosure is not probable, are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.

 

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 expected to be collected over the estimated life of a loan. Estimates of future expected cash flows ultimately reflect assumptions made concerning net credit losses over the life of a loan. The use of reasonable and supportable forecasts requires significant judgment. Management leverages economic projections from reputable and independent third parties to inform and provide its reasonable and supportable economic forecasts. The Company’s model reverts to a straight line basis for purposes of estimating cash flows beyond a period deemed reasonable and supportable. The Company forecasts probability of default and loss given default based on economic forecast scenarios over an eight quarter time period before reverting to a straight line basis for a four quarter time period. The duration of the forecast horizon, the period over which forecasts revert to a straight line basis, the economic forecasts that management utilizes, as well as additional internal and external indicators of economic forecasts that management considers,  may change over time depending on the nature and composition of our loan portfolio. Changes in economic forecasts, in conjunction with changes in loan specific attributes, impact a loan’s probability of default and loss given default, which can drive changes in the determination of the ACL. Expectations of future cash flows are discounted at the loan’s effective interest rate. The resulting ACL represents the amount by which the loan’s amortized cost exceeds the net present value of a loan’s discounted cash flows expected to be collected. The ACL is recorded through a charge to provision for credit losses and is reduced by charge-offs, net of recoveries on loans previously charged-off. It is the Company’s policy to charge-off loan balances at the time they have been deemed uncollectible.

 

For segments where the discounted cash flow methodology is not used, a remaining life methodology is utilized. The remaining life method uses an average annual charge-off rate applied to the contractual term, further adjusted for estimated prepayments to determine the unadjusted historical charge-off rate for the remaining balance of assets.

 

The estimated credit losses for all loan segments are adjusted for changes in qualitative factors not inherently considered in the quantitative analyses. The qualitative categories and the measurements used to quantify the risks within each of these categories are subjectively selected by management. The data for each measurement  may be obtained from internal or external sources. The current period measurements are evaluated and assigned a factor commensurate with the current level of risk relative to past measurements over time. The resulting qualitative adjustments are applied to the relevant collectively evaluated loan portfolios. These adjustments are based upon the following:

 

 1.

Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses.

  

 

 

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 share similar risk characteristics with the collectively evaluated pools are evaluated on an individual basis and are excluded from the collectively evaluated pools. Individual evaluations are generally performed for loans greater than $500,000 which have experienced significant credit deterioration. Such loans are evaluated for credit losses based on either discounted cash flows or the fair value of collateral. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral, less selling costs. For loans for which foreclosure is not probable, but for which repayment is expected to be provided substantially through the operation or sale of the collateral, the Company has elected the practical expedient under ASC 326 to estimate expected credit losses based on the fair value of collateral, with selling costs considered in the event sale of the collateral is expected. Loans for which terms have been modified in a TDR are evaluated using these same individual evaluation methods. In the event the discounted cash flow method is used for a TDR, the original interest rate is used to discount expected cash flows. 

 

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 have been conducted by third-party reviewers including regulatory examiners. The Company incorporates relevant loan review results in the allowance.

 

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 unconditionally cancellable by the Company.

 

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 on  January 1, 2022, which introduced the CECL methodology for credit losses, the allowance for loan losses was composed of the result of two independent analyses pursuant to the provisions of ASC 450-20, Loss Contingencies and ASC 310-10-35, Receivables. The ASC 450-20 analysis was intended to quantify the inherent risks in the performing loan portfolio. The ASC 310-10-35 analysis included a loan-by-loan analysis of impaired loans, primarily consisting of loans reported as nonaccrual or troubled-debt restructurings.

 

The allowance allocation began with a process of estimating the probable losses in each of the twelve loan segments. The estimates for these loans were based on our historical loss data for that category over twenty quarters. Each segment was then analyzed such that an allocation of the allowance was estimated for each loan segment.

 

The estimated loan loss allocation for all twelve loan portfolio segments was then adjusted for several “environmental” factors. The allocation for environmental factors was particularly subjective and did not lend itself to exact mathematical calculation. This amount represented estimated probable inherent credit losses which existed, but had not yet been identified, as of the balance sheet date, and were based upon quarterly trend assessments in delinquent and nonaccrual loans, unanticipated charge-offs, credit concentration changes, prevailing economic conditions, changes in lending personnel experience, changes in lending policies, increase in interest rates, or procedures and other influencing factors. These environmental factors were considered for each of the twelve loan segments and the allowance allocation, as determined by the processes noted above for each component, was increased or decreased through provision expense based on the incremental assessment of those various environmental factors.

 

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, representing expected credit losses over the contractual period for which we are exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if we have the unconditional right to cancel the obligation. Off-balance sheet credit exposures primarily consist of amounts available under outstanding lines of credit and letters of credit. For the period of exposure, the estimate of expected credit losses considers both the likelihood that funding will occur and the amount expected to be funded over the estimated remaining life of the commitment or other off-balance sheet exposure. The likelihood and expected amount of funding are based on historical utilization rates. The amount of the allowance represents management's best estimate of expected credit losses on commitments expected to be funded over the contractual life of the commitment. The allowance is reported as a component of accrued interest and other liabilities in our consolidated balance sheets. Adjustments to the allowance are reported in our income statement as a component of provision for credit losses - off-balance sheet exposures.

 

Estimating credit losses on amounts expected to be funded uses the same methodology as described for loans in note 1 - Summary of Significant Accounting Policies, letter (f) Allowance for Credit Losses - Loans as if such commitments were funded.
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 classified as held-to-maturity or trading, including equity securities with readily determinable fair values, are classified as “available-for-sale” and recorded at fair value based on available market prices, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss) on an after-tax basis. Securities classified as “available-for-sale” are held for indefinite periods of time and may be sold in response to movements in market interest rates, changes in the maturity or mix of Company assets and liabilities or demand for liquidity. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method.

 

A debt security is placed on nonaccrual status at the time any principal and interest payments become 90 days delinquent. Interest accrued but not received for a security placed on nonaccrual is reversed against interest income.

 

No securities have been classified as trading securities or held-to-maturity securities at December 31, 2022 or 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 it intends to sell the security, or more likely than not will be required to sell the security, before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is written down to fair value through net income. If neither criteria is met, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. If the evaluation indicates that a credit loss exists, an allowance for credit losses is recorded for the amount by which the amortized cost basis of the security exceeds the present value of cash flows expected to be collected, limited by the amount by which the amortized cost exceeds fair value. Any impairment not recognized in the allowance for credit losses is recognized in other comprehensive income.
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 maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
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 invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
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] are included within non-interest expense.
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 amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. The Company has selected September 30th as the date to perform the annual impairment test. No impairment was determined as a result of the test performed by the Company on September 30, 2022. Intangible assets with finite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on our balance sheet.
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 record leases on the consolidated balance sheets that are classified as short term (less than one year).

 

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 contain residual value guarantees or material variable lease payments that will impact the Company’s ability to pay dividends or cause the Company to incur additional expenses.

 

Operating lease expense consists of a single lease cost allocated over the remaining lease term on a straight-line bases, variable lease payments not included in the lease liability, and any impairment of the right-of-use asset. Rent expense and variable lease expense are included in occupancy and equipment expense on the Company’s consolidated statements of earnings. The Company’s variable lease expense include rent escalators that are based on market conditions and include items such as common area maintenance, utilities, parking, property taxes, insurance and other costs associated with the lease. The amortization of the right-of-use asset arising from finance leases is expensed through occupancy and equipment expense and the interest on the related lease liability is expenses through interest expense on borrowings on the Company’s consolidated statements of earnings.
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 longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported within non-interest income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

 

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. Late fees and ancillary fees related to loan servicing are not material.

 
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 days, amounts due from banks and Federal funds sold. Generally, Federal funds sold are purchased and sold for one day periods. Management makes deposits only with financial institutions it considers to be financially sound. 
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 be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value.
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 Company follows accounting guidance related to accounting for uncertainty in income taxes, which sets out a consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions.

 

The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur.

 

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, based on the technical merits, that the tax position will be realized or sustained upon examination. The term "more-likely-than-not" means a likelihood of more than 50 percent. The terms "examined" and "upon examination" also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more-likely-than-not that some portion or all of a deferred tax asset will not be realized.

 

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”) requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, cash-settled stock appreciation rights (SARs), and employee share purchase plans. Because cash-settled SARs do not give the grantee the choice of receiving stock, all cash-settled SARs are accounted for as liabilities, not equity, as expense is accrued over the requisite service period.

 

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(k) and profit sharing plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service.
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 and 2020, respectively. 
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 be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.
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 believe there now are such matters that will have a material effect on the financial statements.
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 operating segment, community lending services.
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 - Disclosures About Fair Value of Financial Instruments of the consolidated financial statements. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.

 
Reclassification, Comparability Adjustment [Policy Text Block]

(hh)

Reclassification

 

Certain reclassifications have been made to the 2021 and 2020 figures to conform to the presentation for 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 through March 1, 2023, which is the date the financial statements were available to be issued.
New Accounting Pronouncements, Policy [Policy Text Block]

(kk)

Accounting Standard Updates

 

ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. As noted above, effective  January 1, 2022 the Company adopted ASU 2016-13, which resulted in a $7.6 million decrease to the allowance for credit losses and a $6.2 million increase to the reserve for off-balance sheet exposures, resulting in a $1.0 million increase in retained earnings (net of taxes). See Note 2 – Loans and Allowance for Credit Losses for additional information.

 

ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” In  March 2020, the FASB issued this ASU and has issued subsequent amendments thereto, which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of  March 12, 2020 through  December 31, 2022. 

 

ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848.” In December 2022, the FASB issued this ASU, which extends the period of time entities can utilize the reference rate reform relief guidance under ASU 2020-04 from December 31, 2022 to December 31, 2024. The Company has implemented a transition plan to identify and modify its loans and other financial instruments with attributes that are either directly or indirectly influenced by LIBOR. The Company discontinued originating LIBOR-based loans during 2022 and has begun negotiating loans primarily using its preferred replacement index, the Secured Overnight Financing Rate ("SOFR"). For the Company’s currently outstanding LIBOR-based loans, the timing and manner in which each customer's contract transitions to SOFR will vary on a case-by-case basis. The Company expects to complete all transitions by  August 2023.

 

ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method.” ASU 2022-01 was issued to expand the scope of assets eligible for portfolio layer method hedging to include all financial assets. The update also expands the current last-of-layer method that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. The last-of-layer method is renamed the portfolio layer method, because more than the last layer of a portfolio could be hedged.  The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after  December 15, 2022. The adoption of ASU 2022-01 did not have a significant impact on our financial statements.

 

ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 was issued to respond to feedback received from post-implementation review of Topic 326. The amendments eliminate the troubled debt restructuring (TDR) recognition and measurement guidance and now require that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20.  The guidance is effective for public business entities for fiscal years, and interim periods within 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 other recently issued accounting pronouncements that are expected to materially impact the Company.
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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   — 
v3.22.4
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%
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 
v3.22.4
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 per share, authorized 50,000,000 shares, 11,472,181 and 11,201,504 shares issued and outstanding, respectively

  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 and $2,235, respectively

  (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 
v3.22.4
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 
v3.22.4
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  $29,795 
v3.22.4
Note 1 - Summary of Significant Accounting Policies (Details Textual)
 12 Months Ended
Dec. 31, 2021
USD ($)
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 1,000,000.0   1,000,000.0      
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         51.00%  
v3.22.4
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 5,000,000.0  
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    
v3.22.4
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)
v3.22.4
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
v3.22.4
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  
v3.22.4
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
v3.22.4
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)  
v3.22.4
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  
v3.22.4
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
v3.22.4
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  
v3.22.4
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
v3.22.4
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 98.00%    
Non-agency Collateralized Mortgage Obligations [Member]      
Debt Securities, Available-for-Sale, Total $ 11,000,000.0    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss, Total $ 1,800,000    
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
Note 6 - Goodwill (Details Textual)
Dec. 31, 2005
Acquisition of Subsidiaries [Member]  
Business Acquisition, Percentage of Voting Interests Acquired 100.00%
v3.22.4
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
v3.22.4
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
v3.22.4
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% 4.00%  
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% 0.00%  
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)
v3.22.4
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
v3.22.4
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
v3.22.4
Note 8 - Mortgage Servicing Rights - Principal Balances (Details)
$ in Thousands
Dec. 31, 2022
USD ($)
FHLMC $ 85,742
v3.22.4
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
v3.22.4
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 9.00%
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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 21.00% 21.00% 21.00%
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    
v3.22.4
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)
v3.22.4
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)
v3.22.4
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
v3.22.4
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  
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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  
v3.22.4
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
v3.22.4
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
v3.22.4
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
v3.22.4
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  
v3.22.4
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          
v3.22.4
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 37.00% 36.00% 31.00%
Risk-free rate 3.03% 1.45% 0.52%
v3.22.4
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
v3.22.4
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) $ 51.00
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
v3.22.4
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
v3.22.4
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 $ 1.00 $ 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 $ 1.00 $ 1.23 $ 1.19 $ 1.00 $ 1.00 $ 0.81 $ 1.05 $ 0.83 $ 0.83 $ 4.65 $ 4.43 $ 3.51
v3.22.4
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
v3.22.4
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%
v3.22.4
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
v3.22.4
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)
v3.22.4
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
v3.22.4
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
v3.22.4
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      
v3.22.4
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
v3.22.4
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.
v3.22.4
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.
v3.22.4
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
v3.22.4
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.
v3.22.4
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.
v3.22.4
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) $ 2.00 $ 2.00
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) $ 2.00 $ 2.00
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
v3.22.4
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
v3.22.4
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
v3.22.4
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 $ 1.00 $ 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 $ 1.00 $ 1.23 $ 1.19 $ 1.00 $ 1.00 $ 0.81 $ 1.05 $ 0.83 $ 0.83 $ 4.65 $ 4.43 $ 3.51
v3.22.4
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.