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