10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

__________________________________________________________

FORM 10-K

__________________________________________________________

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2015

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 0-20402

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WILSON BANK HOLDING COMPANY

(Exact name of registrant as specified in its charter)

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Tennessee	62-1497076
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
623 West Main Street
Lebanon, Tennessee	37087
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:

(615) 444-2265

Securities registered pursuant to Section 12(b) of the Act:

None

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $2.00 par value per share

(Title of class)

__________________________________________________________

 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  o    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  o    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	x
Non-accelerated filer	o   (Do not check if a smaller reporting company)	Smaller reporting company	o

The aggregate market value of the voting stock held by non-affiliates of the registrant on June 30, 2015, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $338,143,418. For purposes of this calculation, “affiliates” are considered to be the directors and executive officers of the registrant. The market value calculation was determined using $48.95 per share.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes  o   No  x

Shares of common stock, $2.00 par value per share, outstanding on March 14, 2016 were 7,692,627.

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, 2015 are incorporated by reference into Items 1, 5, 6, 7, 7A and 8.
Part III	Portions of the Registrant’s Proxy Statement relating to the Registrant’s Annual Meeting of Shareholders to be held on April 12, 2016 are incorporated by reference into Items 10, 11, 12, 13 and 14.

PART I

Item 1. Business.

General

Wilson Bank Holding Company (the “Company”) was incorporated on March 17, 1992 under the laws of the State of Tennessee. The purpose of the Company was to acquire all of the issued and outstanding capital stock of Wilson Bank and Trust (the “Bank”) and act as a one-bank holding company. On November 17, 1992, the Company acquired 100% of the capital stock of the Bank pursuant to the terms of an agreement and plan of share exchange.

All of the Company’s banking business is conducted through the Bank, a state chartered bank organized under the laws of the State of Tennessee. The Bank, on December 31, 2015, had eleven full service banking offices located in Wilson County, Tennessee, one full service banking facility in Trousdale County, Tennessee, two full service banking offices in eastern Davidson County, Tennessee, four full service banking offices located in Rutherford County, Tennessee, two full service banking offices in DeKalb County, Tennessee, two full service banking offices in Smith County, Tennessee, two full service banking office in Sumner County, Tennessee and one full service banking office in Putnam County, Tennessee.

Prior to March 31, 2005, the Company owned a 50% interest in DeKalb Community Bank and Community Bank of Smith County. On March 31, 2005, the Company acquired the minority interest in the subsidiaries when the two subsidiaries were merged into the Bank with the shareholders of these subsidiaries, other than the Company, receiving shares of the Company’s common stock in exchange for their shares of common stock in the subsidiaries. Prior to March 31, 2005, these two 50% owned subsidiaries were included in the consolidated financial statements.

The Company’s principal executive office is located at 623 West Main Street, Lebanon, Tennessee, which is also the principal location of the Bank. The Bank’s branch offices are located at 1444 Baddour Parkway, Lebanon, Tennessee; 200 Tennessee Boulevard, Lebanon, Tennessee; 402 Public Square, Watertown, Tennessee; 8875 Stewart’s Ferry Pike, Gladeville, Tennessee; 1476 North Mt. Juliet Road, Mt. Juliet, Tennessee; 11835 Highway 70, Mt. Juliet, Tennessee; 127 McMurry Boulevard, Hartsville, Tennessee; 1130 Castle Heights Avenue North, Lebanon, Tennessee; the Wal-Mart Super Center, Lebanon, Tennessee; 440 Highway 109 North, Lebanon, Tennessee; 1436 West Main Street, Lebanon, Tennessee; 709 South Mt. Juliet Road, Mt. Juliet, Tennessee 37122; 4736 Andrew Jackson Parkway in Hermitage, Tennessee; 217 Donelson Pike, Nashville, Tennessee; 710 NW Broad St, Murfreesboro, Tennessee; 3110 Memorial Blvd, Murfreesboro, Tennessee; 210 Commerce Drive, Smyrna, Tennessee; 2640 South Church Street, Murfreesboro, Tennessee; 576 West Broad Street, Smithville, Tennessee; 306 Brush Creek Road, Alexandria, Tennessee; 1300 Main Street North, Carthage, Tennessee; 7 New Middleton Highway, Gordonsville, Tennessee; 455 West Main Street, Gallatin, Tennessee; 175 East Main Street, Hendersonville, Tennessee and 320 South Jefferson Avenue, Cookeville, Tennessee.Management believes that Wilson County, Trousdale County, Davidson County, Rutherford County, DeKalb County, Smith County, Sumner County, and Putnam County offer an environment for continued banking growth in the Company’s target market, which consists of local consumers, professionals and small businesses. The Bank offers a wide range of banking services, including checking, savings, and money market deposit accounts, certificates of deposit and loans for consumer, commercial and real estate purposes. The Bank also offers custodial, trust and discount brokerage services to its customers. The Bank does not have a concentration of deposits obtained from a single person or entity or a small group of persons or entities, the loss of which would have a material adverse effect on the business of the Bank.

The Bank was organized in 1987 to provide Wilson County with a locally-owned, locally-managed commercial bank. Since its opening, the Bank has experienced a steady growth in deposits and loans as a result of providing personal, service-oriented banking services to its targeted market. For the year ended December 31, 2015, the Company reported net earnings of approximately $23.86 million and at December 31, 2015 if had total assets of approximately $2.02 billion.

Financial and Statistical Information

The Company’s audited consolidated financial statements, selected financial data and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in the Company’s Annual Report to Shareholders for the year ended December 31, 2015 filed as Exhibit 13.1 to this Form 10-K (the “2015 Annual Report”), are incorporated herein by reference.

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Regulation and Supervision

Both the Company and the Bank are subject to extensive state and federal banking laws and regulations that impose restrictions on and provide for general regulatory oversight of the Company’s and the Bank’s operations. These laws and regulations are generally intended to protect depositors and borrowers, and may not necessarily protect shareholders.

In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) was signed into law. The Dodd-Frank Act implements far-reaching reforms of major elements of the financial landscape, particularly for larger financial institutions. Many of its most far-reaching provisions do not directly apply to community-based institutions like the Company or the Bank. For instance, provisions that regulate derivative transactions and limit derivatives trading activity of federally-insured institutions, enhance supervision of “systemically significant” institutions, impose new regulatory authority over hedge funds, limit proprietary trading by banks, and phase-out the eligibility of trust preferred securities for Tier 1 capital are among the provisions that do not directly impact the Company either because of exemptions for institutions below a certain asset size or because of the nature of the Company’s operations. Those provisions that have been adopted or are expected to be adopted that have impacted and, in some cases, will continue to impact the Company include the following:

• Changing the assessment base for federal deposit insurance from the amount of insured deposits to consolidated assets less tangible capital, eliminating the ceiling and increasing the size of the floor of the Deposit Insurance Fund, and offsetting the impact of the increase in the minimum floor on institutions with less than $10 billion in assets.

• Making permanent the $250,000 limit for federal deposit insurance and increasing the cash limit of Securities Investor Protection Corporation protection to $250,000.

• Repealing the federal prohibition on payment of interest on demand deposits, thereby permitting depositing institutions to pay interest on business transaction and other accounts.

• Centralizing responsibility for consumer financial protection by creating a new agency, the Consumer Financial Protection Bureau, responsible for implementing federal consumer protection laws, although banks below $10 billion in assets will continue to be examined and supervised for compliance with these laws by their federal banking regulator.

• Restricting the preemption of state law by federal law and disallowing national bank subsidiaries from availing themselves of such preemption.

• Limiting the debit interchange fees that certain financial institutions are permitted to charge.

• Imposing new requirements for mortgage lending, including new minimum underwriting standards, prohibitions on certain yield-spread compensation to mortgage originators, special consumer protections for mortgage loans that do not meet certain provision qualifications, prohibitions and limitations on certain mortgage terms and various new mandated disclosures to mortgage borrowers.

• Applying the same leverage and risk based capital requirements that apply to insured depository institutions to their holding companies.

• Permitting national and state banks to establish de novo interstate branches at any location where a bank based in that state could establish a branch, and requiring that bank holding companies and banks be well-capitalized and well managed in order to acquire banks located outside their home state.

• Imposing new limits on affiliated transactions and causing derivative transactions to be subject to lending limits.

• Implementing certain corporate governance revisions that apply to all public companies.

Many aspects of the Dodd-Frank Act, including some described above, are not yet effective and remain subject to rulemaking and will take effect over several years, and their impact on the Company or the financial industry is difficult to predict before such regulations are adopted.

The Company is a bank holding company within the meaning of the Bank Holding Company Act of 1956 (the “BHC Act”) and is registered with the Board of Governors of the Federal Reserve System (the “FRB”). The Company is required to file annual reports and other information regarding its business operations and those of its subsidiary with, and is subject to examination by, the FRB. The Bank is chartered under the laws of the State of Tennessee and is subject to the supervision of, and is regularly examined by, the Tennessee Department of Financial Institutions (the “TDFI”). The Bank is also regularly examined by the

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Federal Deposit Insurance Corporation (“FDIC”), the government entity that insures the Bank’s deposits subject to applicable limitations.

Under the BHC Act, a bank holding company may not directly or indirectly acquire ownership or control of more than five percent of the voting shares or substantially all of the assets of any company, including a bank, without the prior approval of the FRB. In addition, bank holding companies are generally prohibited under the BHC Act from engaging in non-banking activities, subject to certain exceptions and the modernization of the financial services industry in connection with the passing of the Gramm-Leach-Bliley Act of 1999 (the “GLB Act”). Under the BHC Act, the FRB is authorized to approve the ownership by a bank holding company of shares of any company whose activities have been determined by the FRB to be so closely related to banking or to managing or controlling banks as to be a proper incident thereto.

Subject to various exceptions, the BHC Act and the Federal Change in Bank Control Act, together with related regulations, require FRB approval prior to any person or company acquiring "control" of a bank holding company. Control is conclusively presumed to exist if an individual or company acquires 25% or more of any class of voting securities of the bank holding company. Control is refutably presumed to exist if a person or company acquires 10% or more, but less than 25%, of any class of voting securities and either:

• The bank holding company has registered securities under Section 12 of the Securities Exchange Act of 1934; or

• No other person owns a greater percentage of that class of voting securities immediately after the transaction.

The Company’s common stock is registered under Section 12 of the Securities Exchange Act of 1934. The regulations provide a procedure for challenge of the rebuttable control presumption.

Under the GLB Act, a “financial holding company” may engage in activities the FRB determines to be financial in nature or incidental to such financial activity or complementary to a financial activity and not a substantial risk to the safety and soundness of such depository institutions or the financial system. Generally, such companies may engage in a wide range of securities activities and insurance underwriting and agency activities. The Company has not made application to the FRB to become a “financial holding company.”

Under the BHC Act, a bank holding company, which has not qualified or elected to become a financial holding company, is generally prohibited from engaging in or acquiring direct or indirect control of more than 5% of the voting shares of any company engaged in nonbanking activities unless, prior to the enactment of the Gramm-Leach-Bliley Act, the FRB found those activities to be so closely related to banking as to be a proper incident to the business of banking. Activities that the FRB has found to be so closely related to banking as to be a proper incident to the business of banking include:

• Factoring accounts receivable;

• Acquiring or servicing loans;

• Leasing personal property;

• Conducting discount securities brokerage activities;

• Performing selected data processing services;

• Acting as agent or broker in selling credit life insurance and other types of insurance in connection with credit transactions; and

• Underwriting certain insurance risks of the holding company and its subsidiaries.

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Despite prior approval, the FRB may order a bank holding company or its subsidiaries to terminate any of these activities or to terminate its ownership or control of any subsidiary when it has reasonable cause to believe that the bank holding company’s continued ownership, activity or control constitutes a serious risk to the financial safety, soundness, or stability of any of its bank subsidiaries.

Under the Tennessee Bank Structure Act, a bank holding company which controls 30% or more of the total deposits (excluding certain deposits) in all federally insured financial institutions in Tennessee is prohibited from acquiring any bank in Tennessee. With prior regulatory approval, Tennessee law permits banks based in the state to either establish new or acquire existing branch offices throughout Tennessee. As a result of the Dodd-Frank Act, the Bank and other state-chartered or national banks generally may establish new branches in another state to the same extent as banks chartered in the other state may establish new branches in that state.

The Company and the Bank are subject to certain restrictions imposed by the Federal Reserve Act and the Federal Deposit Insurance Act, respectively, on any extensions of credit to the bank holding company or its subsidiary bank, on investments in the stock or other securities of the bank holding company or its subsidiary bank, and on taking such stock or other securities as collateral for loans of any borrower. The Bank takes Company common stock as collateral for borrowings subject to the aforementioned restrictions.

Both the Company and the Bank are subject to the provisions of Section 23A of the Federal Reserve Act. Section 23A places limits on the amount of:

• A bank’s loans or extensions of credit, including purchases of assets subject to an agreement to repurchase, to or for the benefit of affiliates;

• A bank’s investment in affiliates;

• Assets a bank may purchase from affiliates, except for real and personal property exempted by the FRB;

• The amount of loans or extensions of credit to third parties collateralized by the securities or obligations of affiliates;

• Transactions involving the borrowing or lending of securities and any derivative transaction that results in credit exposure to an affiliate; and

• A bank’s guarantee, acceptance or letter of credit issued on behalf of an affiliate.

The total amount of the above transactions is limited in amount, as to any one affiliate, to 10% of a bank’s capital and surplus and, as to all affiliates combined, to 20% of a bank’s capital and surplus. In addition to the limitation on the amount of these transactions, each of the above transactions must also meet specified collateral requirements. The Bank must also comply with other provisions designed to avoid the taking of low-quality assets.

The Company and the Bank are also subject to the provisions of Section 23B of the Federal Reserve Act which, among other things, prohibits an institution from engaging in the above transactions with affiliates unless the transactions are on terms substantially the same, or at least as favorable to the institution or its subsidiaries, as those prevailing at the time for comparable transactions with nonaffiliated companies.

The Bank is also subject to restrictions on extensions of credit to its executive officers, directors, principal stockholders and their related interests. These extensions of credit (1) must be made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with third parties, and (2) must not involve more than the normal risk of repayment or present other unfavorable features.

The FRB has the power to prohibit dividends by bank holding companies if their actions constitute unsafe or unsound practices. The FRB has issued a policy statement expressing its view that a bank holding company should pay cash dividends only to the extent that the company’s net income for the past year is sufficient to cover both the cash dividends and a rate of earnings retention that is consistent with the company’s capital needs, asset quality, and overall financial condition.

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The Company is a legal entity separate and distinct from the Bank. Over time, the principal source of the Company’s cash flow, including cash flow to pay dividends to the Company’s common stock shareholders, will be dividends that the Bank pays to the Company as its sole shareholder. Under Tennessee law, the Company is not permitted to pay dividends if, after giving effect to such payment, the Company would not be able to pay its debts as they become due in the normal course of business or the Company’s total assets would be less than the sum of its total liabilities plus any amounts needed to satisfy any preferential rights if the Company were dissolving. In addition, in deciding whether or not to declare a dividend of any particular size, the Company’s board of directors must consider the Company’s current and prospective capital, liquidity, and other needs.

Statutory and regulatory limitations also apply to the Bank’s payment of dividends to the Company. Under Tennessee law, the Bank in any one calendar year can only pay dividends to the Company in an amount equal to or less than the total amount of its net income for that calendar year combined with retained net income for the preceding two years. Payment of dividends in excess of this amount requires the consent of the Commissioner of the TDFI.

The payment of dividends by the Bank and the Company may also be affected by other factors, such as the requirement to maintain adequate capital above regulatory guidelines. The federal banking agencies have indicated that paying dividends that deplete a depository institution’s capital base to an inadequate level would be an unsafe and unsound banking practice. Under the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”), a depository institution may not pay any dividend if payment would cause it to become undercapitalized or if it already is undercapitalized. Moreover, the federal agencies have issued policy statements that provide that bank holding companies and insured banks should generally only pay dividends out of current operating earnings.

Under the Dodd-Frank Act, and previously under FRB policy, the Company is required to act as a source of financial strength for the Bank and to commit resources to support the Bank. This support can be required at times when it would not be in the best interest of the Company’s shareholders or creditors to provide it. Further, if the Bank’s capital levels were to fall below certain minimum regulatory guidelines, the Bank would need to develop a capital plan to increase its capital levels and the Company would be required to guarantee the Bank’s compliance with the capital plan in order for such plan to be accepted by the federal regulatory agency. In the event of bankruptcy, any commitment by the Company to a federal regulatory agency to maintain the capital of the Bank would be assumed by the bankruptcy trustee and entitled to a priority of payment.

Both the Company and the Bank are required to comply with the capital adequacy standards established by the FRB, in the Company’s case, and the FDIC, in the case of the Bank. The FRB has established a risk-based and a leverage measure of capital adequacy for bank holding companies, like the Company. The Bank is also subject to risk-based and leverage capital requirements adopted by the FDIC, which are substantially similar to those adopted by the FRB for bank holding companies. In addition, the FDIC and TDFI may require state banks that are not members of the FRB, like the Bank, to maintain capital at levels higher than those required by general regulatory requirements.

The risk-based capital standards are designed to make regulatory capital requirements more sensitive to differences in risk profiles among banks and bank holding companies, to account for off-balance-sheet exposure, and to minimize disincentives for holding liquid assets. Assets and off-balance-sheet items, such as letters of credit and unfunded loan commitments, are assigned to broad risk categories, each with appropriate risk weights. The resulting capital ratios represent capital as a percentage of total risk-weighted assets and off-balance-sheet items.

The Company’s and the Bank’s principal regulators have established minimum risk-based capital requirements and leverage capital requirements for the Company and the Bank. These guidelines in effect prior to January 1, 2015 classified capital into two categories of Tier 1 and Total risk-based capital. Total risk-based capital consisted of Tier 1 (or core) capital (generally consisting of common stock, minority interests in the equity accounts of consolidated subsidiaries, noncumulative perpetual preferred stock, and a limited amount of cumulative perpetual preferred stock, less goodwill and other specified intangible assets) and Tier 2 capital (generally consisting of qualifying long-term debt, of which the Bank has none, and a part of the allowance for possible loan losses). The total amount of Tier 2 capital was limited to 100% of Tier 1 capital. In determining risk-based capital requirements, assets were assigned risk-weights of 0% to 100%, depending on regulatory assigned levels of credit risk associated with such assets. Under the FRB’s regulations in effect prior to January 1, 2015, for a bank holding company, like the Company, to be considered “well-capitalized” it was required to maintain a Total risk-based capital ratio of at least 10%, a Tier 1 risk-based capital ratio of at least 6% and not be subject to a written agreement, order or directive to maintain a specific capital level. In addition, the FRB had established minimum leverage ratio guidelines for bank holding companies. These guidelines provided that a minimum ratio of Tier 1 capital to average assets, less goodwill and other specified intangible assets, of at least 4% should be maintained by most bank holding companies. The guidelines also provided that bank holding companies experiencing high internal growth or making acquisitions would be expected to maintain strong capital positions substantially above the minimum supervisory levels. Furthermore, the FRB has indicated that it will consider a bank holding company’s Tier 1 capital leverage ratio, after deducting all intangibles, and other indicators of capital strength in evaluating proposals for expansion or new activities.

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Under FDIC regulations in effect prior to January 1, 2015, a state nonmember bank was "well capitalized" if it had a Tier 1 to average assets capital ratio of 5% or better, a Tier 1 risk-based capital ratio of 6% or better, a total risk-based capital ratio of 10% or better, and was not subject to a regulatory agreement, order or directive to maintain a specific level for any capital measure. A state nonmember bank was considered "adequately capitalized" prior to January 1, 2015 if it had a Tier 1 to average assets capital ratio of at least 4%, a Tier 1 risk-based capital ratio of at least 4%, a total risk-based capital ratio of at least 8% and did not meet the definition of a well-capitalized bank. Lower levels of capital result in a bank being considered undercapitalized, significantly undercapitalized and critically undercapitalized.

State nonmember banks are required to be “well-capitalized" in order to take advantage of expedited procedures on certain applications, such as branches and mergers, and to accept and renew brokered deposits without further regulatory approval.

In late 2010, the Basel Committee on Banking Supervision issued “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” (“Basel III”), a new capital framework for banks and bank holding companies. Basel III imposes a stricter definition of capital, with more focus on common equity for those banks to which it is applicable. In July 2013, the federal bank regulatory authorities, including the FRB and the FDIC, approved final rules that revised their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with agreements that were reached by the Basel III Committee on Banking Supervision in Basel III and certain provisions of the Dodd-Frank Act. The final rules, which became effective as to the Company and the Bank on January 1, 2015, apply to all depository institutions, top-tier bank holding companies with total consolidated assets of $1 billion or more, and top-tier savings and loan holding companies (“banking organizations”). Under the rules, the leverage and risk-based capital ratios of bank holding companies may not be lower than the leverage and risk-based capital ratios for insured depository institutions. The rules, among other things, included new minimum risk-based capital and leverage ratios. Moreover, these rules refined the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to bank holding companies and banks subject to the rules are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a total risk-based capital ratio of 8% (unchanged from current rules); and (iv) a Tier 1 to average assets capital ratio of 4% for all institutions. The rules also established a “capital conservation buffer” of 2.5% (to be phased in over three years with the first 0.625% phased in on January 1, 2016) above the new regulatory minimum capital ratios, and result in the following minimum ratios once the capital conservation buffer is fully phased in: (i) a common equity Tier 1 risk-based capital ratio of 7.0%, (ii) a Tier 1 risk-based capital ratio of 8.5%, and (iii) a total risk-based capital ratio of 10.5%. The capital conservation buffer requirement is to be phased in beginning in January 2016 at 0.625% and is scheduled to increase each year until fully implemented in January 2019. An institution will be subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if its capital levels fall below the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions.

Under the new rules implementing Basel III, Tier 1 capital generally consists of common stock (plus related surplus) and retained earnings, limited amounts of minority interest in the form of additional Tier 1 capital instruments, and non-cumulative preferred stock and related surplus, subject to certain eligibility standards, less goodwill and other specified intangible assets and other regulatory deductions. Cumulative preferred stock and trust preferred securities issued after May 19, 2010, will no longer qualify as Tier 1 capital, but such securities issued prior to May 19, 2010, including in the case of bank holding companies with less than $15.0 billion in total assets, trust preferred securities issued prior to that date, will continue to count as Tier 1 capital subject to certain limitations. The definition of Tier 2 capital is generally unchanged for most banking organizations, subject to certain new eligibility criteria.

Common equity Tier 1 capital generally consists of common stock (plus related surplus) and retained earnings plus limited amounts of minority interest in the form of common stock, less goodwill and other specified intangible assets and other regulatory deductions.

The final rules allow banks and their holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and the Bank each opted out of this requirement.

The FRB has adopted regulations applicable to bank holding companies with assets over $50 billion that require such holding companies to develop and submit to the FRB annually capital plans demonstrating the company’s ability to meet, under various stressed economic conditions and over a nine-quarter planning horizon, the above-described minimum leverage capital, Tier 1 risk-based capital and total risk-based capital requirements, as well as a minimum Tier 1 common capital ratio (Tier 1 risk-based capital less preferred stock and trust preferred securities) of at least 5%. While these regulations are not applicable to the Company, the Company’s federal regulator may seek to impose similar stress testing on the Company through its examination authority.

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Failure to meet statutorily mandated capital guidelines or more restrictive ratios separately established for a financial institution could subject a bank or bank holding company to a variety of enforcement remedies, including issuance of a capital directive, the termination of deposit insurance by the FDIC, a prohibition on accepting or renewing brokered deposits, limitations on the rates of interest that the institution may pay on its deposits, limitations on the ability to hire senior executive officers or add directors without prior approval and other restrictions on its business. As described above, significant additional restrictions can be imposed on FDIC-insured depository institutions that fail to meet applicable capital requirements.

Additionally, the FDICIA establishes a system of prompt corrective action to resolve the problems of undercapitalized financial institutions. Under this system, the federal banking regulators have established five capital categories (well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized) into one of which all institutions are categorized. Federal banking regulators are required to take various mandatory supervisory actions and are authorized to take other discretionary actions with respect to institutions in the three undercapitalized categories. The severity of the action depends upon the capital category in which the institution is placed. Generally, subject to a narrow exception, the banking regulator must appoint a receiver or conservator for an institution that is critically undercapitalized. The federal banking agencies have specified by regulation the relevant capital level for each category. Effective as of January 1, 2015, the relevant compete ratios associated with each of these categories is as set forth on the following table:

	Common Equity Tier 1 Risk-based Capital ratio	Total Risk-based Capital ratio	Tier 1 Risk-based Capital ratio	Tier 1 Leverage ratio
Well capitalized	6.5%	10%	8%	5%
Adequately capitalized	4.5%	8%	6%	4%
Undercapitalized	< 4.5%	< 8%	< 6%	< 4%
Significantly undercapitalized	< 3%	< 6%	< 4%	< 3%
Critically undercapitalized	Tangible Equity/Total Assets ≤ 2%

The FDIC has adopted a risk-based assessment system for insured depository institutions that takes into account the risks attributable to different categories and concentrations of assets and liabilities. Under the Dodd-Frank Act, the FDIC has adopted regulations that base deposit insurance assessments on total assets less capital rather than deposit liabilities and include off-balance sheet liabilities of institutions and their affiliates in risk-based assessments.

The Dodd-Frank Act increased the basic limit on federal deposit insurance coverage to $250,000 per depositor. The Dodd-Frank Act also repealed the prohibition on paying interest on demand transaction accounts, but did not extend unlimited insurance protection for these accounts.

The FDIC may terminate its insurance of deposits if it finds that the institution has engaged in unsafe and unsound practices, is in an unsafe or unsound condition to continue operations, or has violated any applicable law, regulation, rule, order or condition imposed by the FDIC.

The Financial Reform, Recovery and Enforcement Act of 1989 provides that a holding company’s controlled insured depository institutions are liable for any loss incurred by the FDIC in connection with the default of, or any FDIC-assisted transaction involving, an affiliated insured bank or savings association.

The maximum permissible rates of interest on most commercial and consumer loans made by the Bank are governed by Tennessee’s general usury law and the Tennessee Industrial Loan and Thrift Companies Act (“Industrial Loan Act”). Certain other usury laws affect limited classes of loans, but the Company believes that the laws referenced above are the most significant. Tennessee’s general usury law authorizes a floating rate of 4% per annum over the average prime or base commercial loan rate, as published by the FRB from time to time, subject to an absolute 24% per annum limit. The Industrial Loan Act, which is generally applicable to most of the loans made by the Bank in Tennessee, authorizes an interest rate of up to 24% per annum and also allows certain loan charges, generally on a more liberal basis than does the general usury law.

The President of the United States signed the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (the “Patriot Act”), into law on October 26, 2001. The Patriot Act established a wide variety of new and enhanced ways of combating international terrorism. The provisions that affect banks (and other financial institutions) most directly are contained in Title III of the act. In general, Title III amended existing law - primarily the Bank Secrecy Act - to provide the Secretary of the U.S. Department of the Treasury (the “Treasury”) and other departments and

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agencies of the federal government with enhanced authority to identify, deter, and punish international money laundering and other crimes.

Among other things, the Patriot Act prohibits financial institutions from doing business with foreign "shell" banks and requires increased due diligence for private banking transactions and correspondent accounts for foreign banks. In addition, financial institutions will have to follow new minimum verification of identity standards for all new accounts and will be permitted to share information with law enforcement authorities under circumstances that were not previously permitted. These and other provisions of the Patriot Act became effective at varying times, and the Treasury and various federal banking agencies are responsible for issuing regulations to implement the law.

The banking industry is generally subject to extensive regulatory oversight. The Company, as a bank holding company with securities registered under the Securities Exchange Act of 1934, and the Bank, as a state-chartered bank with deposits insured by the FDIC, are subject to a number of laws and regulations. Many of these laws and regulations have undergone significant change in recent years. In July 2010, the U.S. Congress passed the Dodd-Frank Act, which includes significant consumer protection provisions related to, among other things, residential mortgage loans that have increased, and are likely to further increase, our regulatory compliance costs. With the enactment of the Dodd-Frank Act and the significant amount of regulations that have already been adopted and that are to come from the passage of that legislation, the nature and extent of the future legislative and regulatory changes affecting financial institutions and the resulting impact on those institutions is very unpredictable at this time. The Dodd-Frank Act, in particular, required that a significant number of new regulations be adopted by various financial regulatory agencies, many of which have been implemented but some of which remain to be implemented.

Competition

The banking business is highly competitive. Our primary market area consists of Wilson, Trousdale, Davidson, Rutherford, DeKalb, Smith, Sumner and Putnam Counties in Tennessee. We compete with numerous commercial banks and savings institutions with offices in these market areas. In addition to these competitors, we compete for loans with insurance companies, regulated small loan companies, credit unions, and certain government agencies. We also compete with numerous companies and financial institutions engaged in similar lines of business, such as mortgage banking companies, brokerage companies and lending companies. Some of our competitors have significantly greater financial resources and offer a greater number of branch locations. To offset this advantage of our larger competitors, the Company believes it can attract customers by providing loan and management decisions at the local level. The Company does not experience significant seasonal trends in its operations.

Monetary Policies

The results of operations of the Bank and the Company are affected by the policies of the regulatory authorities, particularly the FRB. An important function of the FRB is to regulate the national supply of bank credit in order to combat recession and curb inflation. Among the instruments used to attain these objectives are open market operations in U.S. government securities, changes in the discount rate on bank borrowings and changes in reserve requirements relating to member bank deposits. These instruments are used in varying combinations to influence overall growth and distribution of bank loans, investments and deposits, and their use may also affect interest rates charged on loans and paid for deposits. Policies of the regulatory agencies have had a significant effect on the operating results of commercial banks in the past and are expected to do so in the future. The effect of such policies upon the future business and results of operations of the Company and the Bank cannot be predicted with accuracy.

Employment

As of March 14, 2016, the Company and its subsidiary collectively employed 446 full-time equivalent employees.

Available Information

The Company’s Internet website is http://www.wilsonbank.com. Please note that our website address is provided as an inactive textual reference only. The Company makes available free of charge on its website the Company’s annual reports on

10

Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports as soon as reasonably practicable after it electronically files or furnishes such materials to the Securities and Exchange Commission (the “SEC”). The information provided on our website is not part of this report, and is therefore not incorporated by reference herein unless such information is otherwise specifically referenced elsewhere in this report.

Statistical Information Required by Guide 3

The statistical information required to be displayed under Item 1 pursuant to Guide 3, “Statistical Disclosure by Bank Holding Companies,” of the Exchange Act Industry Guides is incorporated herein by reference to the Consolidated Financial Statements and the notes thereto and the Management’s Discussion and Analysis sections in the Company’s 2015 Annual Report. Certain information not contained in the Company’s 2015 Annual Report, but required by Guide 3, is contained in the tables immediately following:

[REMINDER OF PAGE INTENTIONALLY LEFT BLANK]

11

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

 I. Distribution of Assets, Liabilities and Stockholders' Equity;

Interest Rates and Interest Differential

The schedule which follows indicates the average balances for each major balance sheet item, an analysis of net interest income and net interest expense and the change in interest income and interest expense attributable to changes in volume and changes in rates.

The difference between interest income on interest-earning assets and interest expense on interest-bearing liabilities is net interest income, which is the Company’s gross margin. Analysis of net interest income is more meaningful when income from tax-exempt earning assets is adjusted to a tax equivalent basis. Accordingly, the following schedule includes a tax equivalent adjustment of tax-exempt earning assets, assuming a weighted average Federal income tax rate of 34%.

In this schedule, “change due to volume” is the change in volume multiplied by the interest rate for the prior year. “Change due to rate” is the change in interest rate multiplied by the volume for the prior year. Changes in interest income and expense not due solely to volume or rate changes have been allocated to the “change due to volume” and “change due to rate” in proportion to the relationship of the absolute dollar amounts of the change in each category.

Non-accrual loans have been included in the loan category. Loan fees of $5,082,000, $4,338,000 and $3,802,000 for 2015, 2014 and 2013, respectively, are included in loan income and represent an adjustment of the yield on these loans.

12

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

	Dollars In Thousands
	2015						2014						2015/2014 Change
	Average Balance			Average Yield		Income/ Expense	Average Balance			Average Yield		Income/ Expense	Due to Volume			Due to Rate		Total
Loans, net of unearned interest	$	1,418,561		5.04	%	71,543	$	1,261,131		5.29	%	66,685	$	8,098		(3,240	)	4,858
Investment securities—taxable	311,925			1.88		5,868	340,969			1.90		6,464	(531		)	(65	)	(596	)
Investment securities—tax exempt	37,810			2.03		768	32,814			2.07		679	102			(13	)	89
Taxable equivalent adjustment	—			1.05		396	—			1.07		350	53			(7	)	46
Total tax-exempt investment securities	37,810			3.08		1,164	32,814			3.14		1,029	155			(20	)	135
Total investment securities	349,735			2.01		7,032	373,783			2.00		7,493	(376		)	(85	)	(461	)
Loans held for sale	10,724			3.59		385	7,342			3.58		263	121			1		122
Federal funds sold and interest bearing deposits	75,842			.20		154	85,987			.19		167	(21		)	8		(13	)
Restricted equity securities	3,012			4.02		121	3,012			4.05		122	—			(1	)	(1	)
Total earning assets	1,857,874			4.26		79,235	1,731,255			4.32		74,730	7,822			(3,317	)	4,505
Cash and due from banks	9,290						10,597
Allowance for loan losses	(22,588		)				(23,230		)
Bank premises and equipment	40,743						39,293
Other assets	55,198						50,452
Total assets	$	1,940,517					$	1,808,367

13

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

	Dollars In Thousands
	2015					2014					2015/2014 Change
	Average Balance		Average Yield		Income/ Expense	Average Balance		Average Yield		Income/ Expense	Due to Volume			Due to Rate		Total
Deposits:
Negotiable order of withdrawal accounts	$	398,881	.38	%	1,515	$	349,375	.45	%	1,587	$	199		(271	)	(72	)
Money market demand accounts	499,942		.29		1,463	439,867		.42		1,831	237			(606	)	(369	)
Individual retirement accounts	89,340		.95		846	93,687		1.12		1,047	(47		)	(154	)	(201	)
Other savings deposits	105,648		.42		443	99,753		.54		535	31			(123	)	(92	)
Certificates of deposit $100,000 and over	226,762		1.06		2,408	242,838		1.06		2,574	(165		)	—		(165	)
Certificates of deposit under $100,000	215,940		.89		1,925	231,472		.94		2,170	(137		)	(108	)	(245	)
Total interest-bearing deposits	1,536,513		.56		8,600	1,456,992		.67		9,744	118			(1,262	)	(1,144	)
Securities sold under repurchase agreements	2,505		.28		7	5,784		.40		23	(10		)	(6	)	(16	)
Federal funds purchased	90		1.11		1	123		.81		1	—			—		—
Total interest-bearing liabilities	1,539,108		.56		8,608	1,462,899		.67		9,768	108			(1,268	)	(1,160	)
Demand deposits	178,281					146,473
Other liabilities	9,525					9,186
Stockholders’ equity	213,603					189,809
Total liabilities and stockholders’ equity	$	1,940,517				$	1,808,367
Net interest income					70,627					64,962
Net yield on earning assets (1)			3.80	%				3.75	%
Net interest spread (2)			3.70	%				3.65	%

(1) Net interest income divided by average earning assets.

(2) Average interest rate on earning assets less average interest rate on interest-bearing liabilities.

14

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

	Dollars In Thousands
	2014						2013						2014/2013 Change
	Average Balance			Average Yield		Income/ Expense	Average Balance			Average Yield		Income/ Expense	Due to Volume			Due to Rate		Total
Loans, net of unearned interest	$	1,261,131		5.29	%	66,685	$	1,205,296		5.49	%	66,177	$	2,983		(2,475	)	508
Investment securities—taxable	340,969			1.90		6,464	293,100			1.50		4,411	780			1,273		2,053
Investment securities—tax exempt	32,814			2.07		679	27,970			2.16		603	102			(26	)	76
Taxable equivalent adjustment	—			1.07		350	—			1.11		311	50			(11	)	39
Total tax-exempt investment securities	32,814			3.14		1,029	27,970			3.27		914	152			(37	)	115
Total investment securities	373,783			2.00		7,493	321,070			1.66		5,325	932			1,236		2,168
Loans held for sale	7,342			3.58		263	8,358			3.09		258	(33		)	38		5
Federal funds sold, and interest bearing deposits	85,987			.19		167	100,888			.21		215	(29		)	(19	)	(48	)
Restricted equity securities	3,012			4.05		122	3,012			4.98		150	—			(28	)	(28	)
Total earning assets	1,731,255			4.32		74,730	1,638,624			4.40		72,125	3,853			(1,248	)	2,605
Cash and due from banks	10,597						10,046
Allowance for loan losses	(23,230		)				(25,885		)
Bank premises and equipment	39,293						36,330
Other assets	50,452						44,374
Total assets	$	1,808,367					$	1,703,489

15

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

	Dollars In Thousands
	2014					2013					2014/2013 Change
	Average Balance		Average Yield		Income/ Expense	Average Balance		Average Yield		Income/ Expense	Due to Volume			Due to Rate		Total
Deposits:
Negotiable order of withdrawal accounts	$	349,375	.45	%	1,587	$	311,466	.51	%	1,589	$	189		(191	)	(2	)
Money market demand accounts	439,867		.42		1,831	369,769		.50		1,847	312			(328	)	(16	)
Individual retirement accounts	93,687		1.12		1,047	98,006		1.28		1,255	(54		)	(154	)	(208	)
Other savings deposits	99,753		.54		535	95,226		.59		560	26			(51	)	(25	)
Certificates of deposit $100,000 and over	242,838		1.06		2,574	254,568		1.16		2,956	(133		)	(249	)	(382	)
Certificates of deposit under $100,000	231,472		.94		2,170	250,440		1.05		2,621	(189		)	(262	)	(451	)
Total interest-bearing deposits	1,456,992		.67		9,744	1,379,475		.78		10,828	151			(1,235	)	(1,084	)
Securities sold under repurchase agreements	5,784		.40		23	9,438		.53		50	(17		)	(10	)	(27	)
Federal funds purchased	123		.81		1	75		1.33		1	—			—		—
Total interest-bearing liabilities	1,462,899		.67		9,768	1,388,988		.78		10,879	134			(1,245	)	(1,111	)
Demand deposits	146,473					131,427
Other liabilities	9,186					10,594
Stockholders’ equity	189,809					172,480
Total liabilities and stockholders’ equity	$	1,808,367				$	1,703,489
Net interest income					64,962					61,246
Net yield on earning assets (1)			3.75	%				3.74	%
Net interest spread (2)			3.65	%				3.62	%

(1)Net interest income divided by average earning assets.

(2)Average interest rate on earning assets less average interest rate on interest-bearing liabilities.

16

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

II. Investment Portfolio:

A.    Investment securities at December 31, 2015 consist of the following:

	Securities Held-To-Maturity
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
U.S. Government-sponsored enterprises (GSEs) residential	$	9,375	60	169	9,266
Obligations of states and political subdivisions	18,820		288	9	19,099
	$	28,195	348	178	28,365

	Securities Available-For-Sale
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
U.S. Government-sponsored enterprises (GSEs)	$	77,177	215	483	76,909
Mortgage-backed:
GSE residential	192,983		430	1,498	191,915
Asset-backed:
SBAP	31,253		54	273	31,034
Obligations of states and political subdivisions	31,093		274	97	31,270
	$	332,506	973	2,351	331,128

17

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

II. Investment Portfolio, Continued

A.    Continued:

Investment securities at December 31, 2014 consist of the following:

	Securities Held-To-Maturity
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
U.S. Government-sponsored enterprises (GSEs) residential	$	7,398	76	147	7,327
Obligations of states and political subdivisions	20,725		389	41	21,073
	$	28,123	465	188	28,400

	Securities Available-For-Sale
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
U.S. Government-sponsored enterprises (GSEs)	$	131,767	129	1,329	130,567
Mortgage-backed:
GSE residential	170,802		731	464	171,069
Asset-backed:
SBAP	30,627		98	205	30,520
Obligations of states and political subdivisions	14,324		98	158	14,264
	$	347,520	1,056	2,156	346,420

18

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

II. Investment Portfolio, Continued

A.    Continued:

Investment securities at December 31, 2013 consist of the following:

	Securities Held-To-Maturity
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
U.S. Government-sponsored enterprises (GSEs) residential	$	8,649	73	520	8,202
Obligations of states and political subdivisions	18,174		424	239	18,359
	$	26,823	497	759	26,561

	Securities Available-For-Sale
	(In Thousands)
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
U.S. Government-sponsored enterprises (GSEs)	$	141,968	10	5,892	136,086
Mortgage-backed:
GSE residential	175,855		808	1,481	175,182
Asset-backed:
SBAP	4,801		—	69	4,732
Obligations of states and political subdivisions	13,711		71	409	13,373
	$	336,335	889	7,851	329,373

19

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

II. Investment Portfolio, Continued:

B. The following schedule details the contractual maturities and weighted average yields of investment securities of the Company. Actual maturities may differ from contractual maturities of mortage-backed securities because the mortgages underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories noted below as of December 31, 2015:

Held-To-Maturity Securities	Amortized Cost		Estimated Market Value	Weighted Average Yields
	(In Thousands, Except Yields)
Mortgage-backed:
GSEs residential	$	9,375	9,266	4.29	%
Obligations of states and political subdivisions*:
Less than one year	1,309		1,321	4.38
One to three years	5,173		5,238	2.77
Three to five years	5,217		5,303	2.84
Five to ten years	3,985		4,050	3.04
More than ten years	3,136		3,187	2.99
Total obligations of states and political subdivisions	18,820		19,099	3.00
Total held-to-maturity securities	$	28,195	28,365	3.43	%

* Weighted average yield is stated on a tax-equivalent basis, assuming a weighted average Federal income tax rate of 34%.

20

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

 II. Investment Portfolio, Continued;

B.    Continued:

Available-For-Sale Securities	Amortized Cost		Estimated Market Value	Weighted Average Yields
	(In Thousands, Except Yields)
Mortgage and asset-backed securities	$	224,236	222,949	3.09	%
U.S. Government-sponsored enterprises (GSEs):
Less than one year	—		—	—
One to three years	3,198		3,168	1.77
Three to five years	32,424		32,401	2.72
Five to ten years	41,555		41,340	3.25
More than ten years	—		—	—
Total U.S. Government-sponsored enterprises (GSEs)	77,177		76,909	2.97
Obligations of states and political subdivisions*:
Less than one year	—		—	—
One to three years	966		963	2.29
Three to five years	6,181		6,235	2.44
Five to ten years	21,205		21,319	3.01
More than ten years	2,741		2,753	3.80
Total obligations of states and political subdivisions	31,093		31,270	2.94
Total available-for-sale securities	$	332,506	331,128	3.05	%

* Weighted average yield is stated on a tax-equivalent basis, assuming a weighted average Federal income tax rate of 34%.

21

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

III. Loan Portfolio:

A.    Loan Types

The following schedule details the loans of the Company at December 31, 2015, 2014, 2013, 2012 and 2011:

	In Thousands
	2015			2014		2013		2012		2011
Commercial, financial and agricultural	$	41,339		42,200		34,834		35,521		48,080
Real estate—construction	275,319			245,830		194,426		190,356		166,460
Real estate—mortgage	1,110,989			1,027,723		940,077		902,930		866,060
Installment	43,467			41,025		41,118		41,713		44,689
Total loans	1,471,114			1,356,778		1,210,455		1,170,520		1,125,289
Deferred loan fees	(5,035		)	(4,341	)	(3,253	)	(2,912	)	(2,031	)
Total loans, net of deferred fees	1,466,079			1,352,437		1,207,202		1,167,608		1,123,258
Less allowance for loan losses	(22,900		)	(22,572	)	(22,935	)	(25,497	)	(24,525	)
Net loans	$	1,443,179		1,329,865		1,184,267		1,142,111		1,098,733

22

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

III. Loan Portfolio, Continued:

B.    Maturities and Sensitivities of Loans to Changes in Interest Rates

The following table classifies our fixed and variable rate loans at December 31, 2015 according to contractual maturities of: (1) one year or less, (2) after one year through five years, and (3) after five years. The table also classifies our variable rate loans pursuant to the contractual repricing dates of the underlying loans (dollars in thousands):

	Amounts at December 31, 2015
	Fixed Rates		Variable Rates	Totals	At December 31, 2015
Based on contractual maturity:
Due within one year	$	229,037	35,172	264,209	17.96	%
Due in one year to five years	175,698		90,526	266,224	18.10
Due after five years	95,951		844,730	940,681	63.94
Totals	$	500,686	970,428	1,471,114	100.0	%
Based on contractual repricing dates:
Daily floating rate	$	—	10,013	10,013	0.68	%
Due within one year	229,037		304,142	533,179	36.24
Due in one year to five years	175,698		473,305	649,003	44.12
Due after five years	95,951		182,968	278,919	18.96
Totals	$	500,686	970,428	1,471,114	100.0	%

The following table represents the contractual maturities of the loan portfolio as of December 31, 2015 (dollars in thousands):

	Due Within One Year		Due in One to Five Years	Due After Five Years	Total
Commercial, financial and agricultural	$	6,171	10,337	24,831	41,339
Real estate—construction	139,136		68,829	67,354	275,319
Real estate—mortgage	102,532		160,928	847,529	1,110,989
Installment	16,370		26,130	967	43,467
	$	264,209	266,224	940,681	1,471,114

23

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

III. Loan Portfolio, Continued:

C.    Risk Elements

The following schedule details selected information as to non-performing loans of the Company at December 31, 2015, 2014, 2013, 2012 and 2011:

	In Thousands, Except Percentages
	2015	2014	2013	2012	2011
Non-accrual loans:
Commercial, financial and agricultural	—	—	—	—	35
Real estate—construction	—	—	3,524	9,626	14,378
Real estate—mortgage	4,909	616	2,053	7,229	10,552
Installment	—	—	—	—	—
Total non-accrual	4,909	616	5,577	16,855	24,965
Loans 90 days past due still accruing and non-performing TDRs:
Commercial, financial and agricultural	41	9	285	54	158
Real estate—construction	—	73	271	24	95
Real estate—mortgage	4,475	5,008	1,550	736	5,339
Installment	55	48	27	105	78
Total loans 90 days past due still accruing and non-performing TDRs	4,571	5,138	2,133	919	5,670
Total non-performing loans	9,480	5,754	7,710	17,774	30,635
Total loans, net of deferred fees	1,466,079	1,352,437	1,207,202	1,167,608	1,123,258
Percentage of total non- performing loans to total loans outstanding, net of deferred fees	0.65	0.43	0.64	1.52	2.73
Other real estate	5,410	7,298	12,869	15,307	19,117

24

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

III. Loan Portfolio, Continued:

C.    Risk Elements, Continued:

The accrual of interest income is discontinued when it is determined that collection of interest is less than probable or the collection of any amount of principal is doubtful. The decision to place a loan on a non-accrual status is based on an evaluation of the borrower’s financial condition, collateral liquidation value, economic and business conditions and other factors that affect the borrower’s ability to pay. At the time a loan is placed on a non-accrual status, the accrued but unpaid interest is also evaluated as to collectability. If collectability is doubtful, the unpaid interest is charged off. Thereafter, interest on non-accrual loans is recognized only as received. Non-accrual loans totaled $4,909,000 at December 31, 2015, $616,000 at December 31, 2014, $5,577,000 at December 31, 2013, $16,855,000 at December 31, 2012 and $24,965,000 at December 31, 2011. Gross interest income on non-accrual loans that would have been recorded for the year ended December 31, 2015 if the loans had been current totaled $291,000 compared to $39,000 in 2014, $296,000 in 2013, $775,000 in 2012 and $875,000 in 2011. The amount of interest and fee income recognized on total loans during 2015 totaled $71,543,000 as compared to $66,685,000 in 2014, $66,177,000 in 2013, $66,080,000 in 2012 and $66,031,000 in 2011.

At December 31, 2015, loans, which include the above, totaling $25,217,000 were included in the Company’s internal classified loan list. Of these loans $25,090,000 are real estate and $127,000 are various other types of loans. The value collateralizing these loans is estimated by management to be approximately $50,407,000 ($50,394,000 related to real property securing real estate loans and $13,000 related to the various other types of loans). Such loans are listed as classified when information obtained about possible credit problems of the borrowers has prompted management to question the ability of the borrower to comply with the repayment terms of the loan agreement. The loan classifications do not represent or result from trends or uncertainties which management expects will materially impact future operating results, liquidity or capital resources.

At December 31, 2015, real estate construction and mortgage loans made up 18.72% and 75.52%, respectively, of the Company’s loan portfolio.

At December 31, 2015 and 2014, other real estate totaled $5,410,000 and $7,298,000, respectively.

25

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

III.    Loan Portfolio, Continued;

C.    Risk Elements, Continued;

There were no material amounts of other interest-bearing assets (interest-bearing deposits with other banks, municipal bonds, etc.) at December 31, 2015 which would be required to be disclosed as past due, non-accrual, restructured or potential problem loans, if such interest-bearing assets were loans.

26

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

IV. Summary of Loan Loss Experience

The following schedule details selected information related to the allowance for loan loss account of the Company at December 31, 2015, 2014, 2013, 2012 and 2011 and the years then ended.

	In Thousands, Except Percentages
	2015			2014		2013		2012		2011
Allowance for loan losses at beginning of period	$	22,572		22,935		25,497		24,525		22,177
Charge-offs:
Commercial, financial and agricultural	—			(37	)	(150	)	(454	)	(517	)
Real estate – construction	(26		)	(7	)	(1,470	)	(2,226	)	(1,681	)
Real estate – mortgage	(414		)	(1,436	)	(3,247	)	(6,066	)	(4,103	)
Installment	(664		)	(387	)	(380	)	(412	)	(461	)
	(1,104		)	(1,867	)	(5,247	)	(9,158	)	(6,762	)
Recoveries:
Commercial, financial and agricultural	7			464		38		71		22
Real estate – construction	39			324		179		174		67
Real estate – mortgage	767			84		123		169		106
Installment	231			134		168		188		237
	1,044			1,006		508		602		432
Net loan charge-offs	(60		)	(861	)	(4,739	)	(8,556	)	(6,330	)
Provision for loan losses charged to expense	388			498		2,177		9,528		8,678
Allowance for loan losses at end of period	$	22,900		22,572		22,935		25,497		24,525
Total loans, net of deferred fees, at end of year	$	1,466,079		1,352,437		1,207,202		1,167,608		1,123,258
Average total loans outstanding, net of deferred fees, during year	$	1,418,561		1,261,131		1,205,296		1,138,525		1,108,335
Net charge-offs as a percentage of average total loans outstanding, net of deferred fees, during year	0.004		%	0.07		0.39		0.75		0.57
Ending allowance for loan losses as a percentage of total loans outstanding net of deferred fees, at end of year	1.56		%	1.67		1.90		2.18		2.18

27

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

IV.    Summary of Loan Loss Experience, Continued:

The allowance for loan losses is an amount that management believes will be adequate to absorb possible losses on existing loans that may become uncollectible. The provision for loan losses charged to operating expense is based on past loan loss experience and other factors which, in management’s judgment, deserve current recognition in estimating possible loan losses. Such other factors considered by management include growth and composition of the loan portfolio, review of specific loan problems, the relationship of the allowance for loan losses to outstanding loans, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral and current economic conditions that may affect the borrower’s ability to pay.

Management conducts a continuous review of all loans that are delinquent, previously charged down or which are determined to be potentially uncollectible. Loan classifications are reviewed periodically by a person independent of the lending function. The Board of Directors of the Company periodically reviews the adequacy of the allowance for loan losses.

The following detail provides a breakdown of the allocation of the allowance for loan losses:

	December 31, 2015				December 31, 2014
	In Thousands		Percent of Loans In Each Category To Total Loans		In Thousands		Percent of Loans In Each Category To Total Loans
Commercial, financial and agricultural	$	339	2.8	%	$	178	3.1	%
Real estate construction	5,136		18.7		5,578		18.1
Real estate mortgage	16,983		75.5		16,492		75.8
Installment	442		3.0		324		3.0
	$	22,900	100.0	%	$	22,572	100.0	%

	December 31, 2013				December 31, 2012
	In Thousands		Percent of Loans In Each Category To Total Loans		In Thousands		Percent of Loans In Each Category To Total Loans
Commercial, financial and agricultural	$	402	2.9	%	$	397	3.0	%
Real estate construction	5,159		16.1		7,191		16.3
Real estate mortgage	17,053		77.6		17,515		77.1
Installment	321		3.4		394		3.6
	$	22,935	100.0	%	$	25,497	100.0	%

	December 31, 2011
	In Thousands		Percent of Loans In Each Category To Total Loans
Commercial, financial and agricultural	$	1,328	4.3	%
Real estate construction	6,223		14.8
Real estate mortgage	16,518		77.0
Installment	456		3.9
	$	24,525	100.0	%

28

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

V. Deposits:

The average amounts and average interest rates for deposits for 2015, 2014 and 2013 are detailed in the following schedule:

	2015				2014				2013
	Average Balance In Thousands		Average Rate		Average Balance In Thousands		Average Rate		Average Balance In Thousands		Average Rate
Non-interest bearing deposits	$	178,281	—		$	146,473	—		$	131,427	—
Negotiable order of withdrawal accounts	398,881		0.38	%	349,375		0.45	%	311,466		0.51	%
Money market demand accounts	499,942		0.29	%	439,867		0.42	%	369,769		0.50	%
Individual retirement accounts	89,340		0.95	%	93,687		1.12	%	98,006		1.28	%
Other savings	105,648		0.42	%	99,753		0.54	%	95,226		0.59	%
Certificates of deposit $100,000 and over	226,762		1.06	%	242,838		1.06	%	254,568		1.16	%
Certificates of deposit under $100,000	215,940		0.89	%	231,472		0.94	%	250,440		1.05	%
	$	1,714,794	0.50	%	$	1,603,465	0.61	%	$	1,510,902	0.72	%

The following schedule details the maturities of certificates of deposit and individual retirement accounts of $100,000 and over at December 31, 2015:

	In Thousands
	Certificates of Deposit		Individual Retirement Accounts	Total
Less than three months	$	34,273	6,410	40,683
Three to six months	20,471		3,898	24,369
Six to twelve months	31,734		4,185	35,919
More than twelve months	133,673		23,565	157,238
	$	220,151	38,058	258,209

29

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

VI. Return on Equity and Assets:

The following schedule details selected key ratios of the Company at December 31, 2015, 2014 and 2013:

	2015		2014		2013
Return on assets (Net income divided by average total assets)	1.23	%	1.15	%	0.93	%
Return on equity (Net income divided by average equity)	11.17	%	10.95	%	9.20	%
Dividend payout ratio (Dividends declared per share divided by net income per share)	20.83	%	21.82	%	28.30	%
Equity to asset ratio (Average equity divided by average total assets)	11.01	%	10.50	%	10.13	%
Leverage capital ratio (Equity divided by fourth quarter average total assets, excluding the net unrealized gain (loss) on available-for-sale securities)	11.06	%	10.59	%	10.27	%

The minimum leverage capital ratio required by the regulatory agencies is 4%.

30

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

VI. Return on Equity and Assets: Continued:

The following schedule details the Company’s risk-based capital at December 31, 2015 excluding the net unrealized loss on available-for-sale securities which is shown as a deduction in stockholders’ equity in the consolidated financial statements:

	In Thousands
Tier I capital:
Stockholders’ equity, excluding the net unrealized loss on available-for-sale securities, intangible assets and goodwill	$	219,484
Total capital:
Allowable allowance for loan losses	22,040
Total capital	$	241,524
Risk-weighted assets	$	1,707,356
Risk-based capital ratios:
Tier I capital ratio	12.86		%
Common equity Tier 1 capital ratio	12.86		%
Total risk-based capital ratio	14.11		%

31

WILSON BANK HOLDING COMPANY

Form 10-K

December 31, 2015

VI. Return on Equity and Assets: Continued:

The Company is required to maintain a total capital to risk-weighted asset ratio of 8% and a Tier I capital to risk-weighted asset ratio of 6%. At December 31, 2015, the Company and the Bank were in compliance with these requirements.

The following schedule details the Company’s interest rate sensitivity at December 31, 2015:

	Repricing Within
(In Thousands)	Total		0-30 Days		31-90 Days		91-180 Days		181-365 Days		Over 1 Year
Earning assets:
Loans, net of deferred fees	$	1,466,079	148,846		54,967		128,736		205,608		927,922
Securities	359,323		19,562		125		1,186		2		338,448
Loans held for sale	10,135		10,135		—		—		—		—
Federal funds sold	35,220		35,220		—		—		—		—
Restricted equity securities	3,012		3,012		—		—		—		—
Total earning assets	1,873,769		216,775		55,092		129,922		205,610		1,266,370
Interest-bearing liabilities:
Negotiable order of withdrawal accounts	445,967		445,967		—		—		—		—
Money market demand accounts	523,895		523,895		—		—		—		—
Individual retirement accounts	86,587		6,746		9,650		11,417		10,334		48,440
Other savings	107,829		107,829		—		—		—		—
Certificates of deposit, $100,000 and over	220,151		12,911		21,211		20,274		32,082		133,673
Certificates of deposit, under $100,000	208,359		12,831		31,233		29,805		33,695		100,795
Securities sold under repurchase agreements	2,035		2,035		—		—		—		—
	1,594,823		1,112,214		62,094		61,496		76,111		282,908
Interest-sensitivity gap	$	278,946	(895,439	)	(7,002	)	68,426		129,499		983,462
Cumulative gap			(895,439	)	(902,441	)	(834,015	)	(704,516	)	278,946
Interest-sensitivity gap as % of total assets			(44.3	)%	(0.3	)%	3.4	%	6.4	%	48.6	%
Cumulative gap as % of total assets			(44.3	)%	(44.6	)%	(41.2	)%	(34.8	)%	13.8	%

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The Company presently maintains a liability sensitive position over the next twelve months. However, management expects that liabilities of a demand nature will renew and that it will not be necessary to replace them with significantly higher cost funds.

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Item 1A. Risk Factors.

Investing in our common stock involves various risks which are particular to our company, our industry and our market area. Several risk factors regarding investing in our common stock are discussed below. If any of the following risks were to occur, we may not be able to conduct our business as currently planned and our financial condition or operating results could be materially and negatively impacted. These matters could cause the trading price of our common stock to decline in future periods.

The Company’s loan portfolio includes a significant amount of real estate loans, including construction and development loans, which loans have a greater credit risk than residential mortgage loans.

As of December 31, 2015, approximately 94% of the Company’s loans held for investment were secured by real estate. Of this amount, approximately 45% were commercial real estate loans, 25% were residential real estate loans, 20% were construction and development loans and 10% were other real estate loans. In total these loans make up approximately 99% of the Company’s non-performing loans at December 31, 2015. Construction and development lending is generally considered to have relatively high credit risks because the principal is concentrated in a limited number of loans with repayment dependent on the successful completion and operation of the related real estate project. Consequently, the credit quality of many of these loans deteriorated in 2008, 2009 and the first half of 2010 as a result of adverse conditions in the real estate market within the Company’s markets. While conditions have stabilized somewhat since the second half of 2010, if residential real estate prices again decline or demand weakens, that could again result in price reductions in home and land values adversely affecting the value of collateral securing the construction and development loans that the Company holds. Renewed adverse economic and real estate market conditions could lead to further increases in non-performing loans and other real estate owned, increased charge offs from the disposition of non-performing assets, increases in provision for loan losses and increases in operating expenses as a result of the allocation of management time and resources to the collection and work out of these loans, all of which would negatively impact the Company’s financial condition and results of operations.

The Company has significant credit exposure to borrowers that are homebuilders and land developers and the Company also targets small to medium-sized businesses.

At December 31, 2015, the Company had significant credit exposures to borrowers in certain businesses, including new home builders and land subdividers. Although conditions in the Company’s market have improved over the last three years, these industries continue to experience challenges as a result of the continued sluggish economy. If the economic environment in the Company’s market weakens in 2016 or beyond, these industry concentrations could result in higher than normal deterioration in credit quality, past dues, loan charge offs and collateral value declines, which could cause the Company’s earnings to be negatively impacted. Furthermore, any of the Company’s large credit exposures that deteriorate unexpectedly could cause the Company to have to make significant additional loan loss provisions, negatively impacting the Company’s earnings.

A substantial focus of the Company’s marketing and business strategy is to serve small to medium-sized businesses in its market areas. As a result, a relatively high percentage of the Company’s loan portfolio consists of commercial loans primarily to small to medium-sized businesses. The Company expects to seek to expand the amount and percentage of such loans in its portfolio in 2016. During periods of lower economic growth like those the Company experienced in recent years or recessionary environments like the Company experienced in 2007 and 2008, small to medium-sized businesses may be impacted more severely and more quickly than larger businesses. Consequently, the ability of such businesses to repay their loans may deteriorate, and in some cases this deterioration may occur quickly, which would adversely impact the Company’s results of operations and financial condition.

The Company is geographically concentrated in Wilson County, Tennessee and its surrounding counties and changes in local economic conditions could impact its profitability.

The Company operates primarily in Wilson, DeKalb, Smith, Rutherford, Putnam, and Sumner counties and the surrounding counties and substantially all of its loan customers and most of its deposit and other customers live or have operations in this same geographic area. Accordingly, the Company’s success significantly depends upon the growth in population, income levels, and deposits in these areas, along with the continued attraction of business ventures to the area and the area’s economic stability and strength of the housing market, and its profitability is impacted by the changes in general economic conditions in this market. Economic conditions in the Company’s markets, although continuing to stabilize, remain challenging, particularly the real estate construction and development segment of the Company’s loan portfolio. The Company cannot assure that economic conditions in its markets will improve during 2016 or thereafter, and continued weak economic conditions in the Company’s markets could cause the Company to continue to constrict its growth rate, affect the ability of its customers to repay their loans and generally affect the Company’s financial condition and results of operations.

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The Company is less able than a larger institution to spread the risks of unfavorable local economic conditions across a large number of diversified economies. Moreover, the Company cannot give any assurance that it will benefit from any market growth or return of more favorable economic conditions in its primary market areas if they do occur.

The Company could sustain losses if its asset quality declines.

The Company’s earnings are significantly affected by its ability to properly originate, underwrite and service loans. The Company could sustain losses if it incorrectly assesses the creditworthiness of its borrowers or fails to detect or respond to deterioration in asset quality in a timely manner. Problems with asset quality, particularly within the commercial real estate segment of the Company’s loan portfolio, could cause the Company’s interest income and net interest margin to decrease and its provisions for loan losses and non-interest expenses to increase, which could adversely affect its results of operations and financial condition.

Fluctuations in interest rates could reduce the Company’s profitability.

The absolute level of interest rates as well as changes in interest rates may affect the Company’s level of interest income, the primary component of its gross revenue, as well as the level of its interest expense. Interest rate fluctuations are caused by many factors which, for the most part, are not under the Company’s direct control. For example, national monetary policy plays a significant role in the determination of interest rates. Additionally, competitor pricing and the resulting negotiations that occur with the Company’s customers also impact the rates the Company collects on loans and the rates it pays on deposits.

As interest rates change, the Company expects that it will periodically experience “gaps” in the interest rate sensitivities of its assets and liabilities, meaning that either its interest-bearing liabilities (usually deposits and borrowings) will be more sensitive to changes in market interest rates than its interest-earning assets (usually loans and investment securities), or vice versa. In either event, if market interest rates should move contrary to the Company’s position, this “gap” may work against the Company, and its earnings may be negatively affected.

Changes in the level of interest rates also may negatively affect the Company’s ability to originate real estate loans, the value of its assets and its ability to realize gains from the sale of its assets, all of which ultimately affect the Company’s earnings. A decline in the market value of the Company’s assets may limit the Company’s ability to borrow additional funds. As a result, the Company could be required to sell some of its loans and investments under adverse market conditions, upon terms that are not favorable to the Company, in order to maintain its liquidity. If those sales are made at prices lower than the amortized costs of the investments, the Company will incur losses.

An inadequate allowance for loan losses would reduce the Company’s earnings.

The risk of credit losses on loans varies with, among other things, general economic conditions, the type of loan being made, the creditworthiness of the borrower over the term of the loan and, in the case of a collateralized loan, the value and marketability of the collateral for the loan. Management maintains an allowance for loan losses based upon, among other things, historical experience, an evaluation of economic conditions and regular reviews of delinquencies and loan portfolio quality. Based upon such factors, management makes various assumptions and judgments about the ultimate collectibility of the loan portfolio, provides an allowance for loan losses based upon a percentage of the outstanding balances and takes a charge against earnings with respect to specific loans when their ultimate collectibility is considered questionable. If management’s assumptions and judgments prove to be incorrect and the allowance for loan losses is inadequate to absorb losses, the Bank’s earnings and capital could be significantly and adversely affected.

In addition, federal and state regulators periodically review the Company’s loan portfolio and may require it to increase its allowance for loan losses or recognize loan charge-offs. Their conclusions about the quality of the Company’s loan portfolio may be different than the Company’s. Any increase in the Company’s allowance for loan losses or loan charge offs as required by these regulatory agencies could have a negative effect on the Company’s operating results. Moreover, additions to the allowance may be necessary based on changes in economic and real estate market conditions, new information regarding existing loans or borrowers, identification of additional problem loans and other factors, both within and outside of the Company’s management’s control. These additions may require increased provision expense which would negatively impact the Company’s results of operations.

Negative developments in the U.S. and local economy may adversely impact the Company’s results in the future.

Economic conditions in the markets in which the Company operates deteriorated significantly between early 2008 and the middle of 2010. These challenges manifested themselves primarily in the form of increased levels of provisions for loan losses and other real estate expense related to declining collateral values in the Company’s real estate loan portfolio and increased

35

costs associated with its portfolio of other real estate owned. Although economic conditions appear to have stabilized and strengthened in our markets in the more recent periods and the Company has refocused its efforts on growing its earning assets, the Company believes that it will continue to experience a slower growth economic environment in 2016. Accordingly, the Company expects that its results of operations could be negatively impacted by economic conditions, including reduced loan demand, in 2016. There can be no assurance that the economic conditions that have adversely affected the financial services industry, and the capital, credit and real estate markets, generally, or the Company in particular, will improve materially, or at all, in the near future, or thereafter, in which case the Company could experience reduced earnings or again experience significant losses and write-downs of assets, and could face capital and liquidity constraints or other business challenges.

Over the last three years the Company has sought to expand its franchise by developing new markets or expanding its operations in existing markets and may continue to do so in future years.

In 2015, the Company opened a new branch location in Putnam County, a market not previously served by the Company and has plans to open an additional branch location in Rutherford County during 2016. Expansion, whether by opening new branches or acquiring existing branches or whole banks, involves various risks, including:

Management of Growth. The Company may be unable to successfully:

• maintain loan quality in the context of significant loan growth;

• avoid diversion or disruption of its existing operations or management as well as those of an acquired institution;

• maintain adequate management personnel and systems to oversee such growth;

• maintain adequate internal audit, loan review and compliance functions; and

• implement additional policies, procedures and operating systems required to support such growth.

Operating Results. There is no assurance that existing offices or future offices will maintain or achieve deposit levels, loan balances or other operating results necessary to avoid losses or produce profits. Execution on a growth strategy could lead to increases in overhead expenses if the Company were to add new offices and staff. The Company’s historical results may not be indicative of future results or results that may be achieved if it were to increase the number and concentration of its branch offices in its existing or new markets.

Development of Offices. There are considerable costs involved in opening branches, and new branches generally do not generate sufficient revenues to offset their costs until they have been in operation for at least a year or more. Accordingly, any new branches the Company establishes can be expected to negatively impact the Company’s earnings for some period of time until they reach certain economies of scale. The same is true for the Company’s efforts to expand in these markets with the hiring of additional seasoned professionals with significant experience in that market. The Company’s expenses could be further increased if it encounters delays in opening any of its new branches. The Company may be unable to accomplish future branch expansion plans due to a lack of available satisfactory sites, difficulties in acquiring such sites, increased expenses or loss of potential sites due to complexities associated with zoning and permitting processes, higher than anticipated merger and acquisition costs or other factors. Finally, any branch the Company may not meet the Company’s long-term profitability expectations or otherwise be successful even after it has been established or acquired, as the case may be.

Regulatory and Economic Factors. Growth of banks like the Bank may be adversely affected by a number of regulatory and economic developments or other events. Failure to obtain required regulatory approvals, changes in laws and regulations or other regulatory developments and changes in prevailing economic conditions or other unanticipated events may prevent or adversely affect the Company’s growth and expansion. Such factors may cause the Company to alter its growth and expansion plans or slow or halt the growth and expansion process, which may prevent the Company from entering its expected markets or allow competitors to gain or retain market share in the Company’s existing markets.

Failure to successfully address these and other issues related to our expansion could have a material adverse effect on our financial condition and results of operations, and could adversely affect our ability to successfully implement our business strategy.

Changes that became effective on January 1, 2015 to capital requirements for bank holding companies and depository institutions may negatively impact the Company’s and the Bank’s results of operations.

In July 2013, the FRB and the FDIC approved final rules that substantially amend the regulatory risk-based capital rules applicable to the Company and the Bank. The final rules, which became effective on January 1, 2015, implement the Basel III regulatory capital reforms and changes required by the Dodd-Frank Act.

36

Various provisions of the Dodd-Frank Act increase the capital requirements of bank holding companies. The leverage and risk-based capital ratios of these entities may not be lower than the leverage and risk-based capital ratios for insured depository institutions. The final rules implementing the Basel III regulatory capital reforms include new minimum risk-based capital and leverage ratios. These rules also refine the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to bank holding companies and banks subject to the rules are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a total risk-based capital ratio of 8% (unchanged from current rules); and (iv) a Tier 1 leverage ratio of 4% for all institutions. The rules also establish a “capital conservation buffer” of 2.5% (to be phased in over three years) above the new regulatory minimum capital ratios, and result in the following minimum ratios: (i) a common equity Tier 1 risk-based capital ratio of 7.0%, (ii) a Tier 1 risk-based capital ratio of 8.5%, and (iii) a total risk-based capital ratio of 10.5%. The capital conservation buffer requirement is to be phased in beginning in January 2016 at 0.625% and would increase each year until fully implemented in January 2019. An institution will be subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if its capital levels fall below the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions.

The application of more stringent capital requirements for the Company and the Bank, like those implementing the Basel III reforms (particularly the new common equity Tier 1 capital ratio), could, among other things, result in lower returns on invested capital, require the raising of additional capital, and result in regulatory actions if the Company or the Bank were to be unable to comply with such requirements. Furthermore, the imposition of liquidity requirements in connection with the implementation of the final rules regarding Basel III could result in the Company or the Bank having to lengthen the term of their funding, restructure their business models and/or increase their holdings of liquid assets. Implementation of changes to asset risk weightings for risk-based capital calculations, items included or deducted in calculating regulatory capital and/or additional capital conservation buffers could result in management modifying its business strategy and could limit the Company’s and the Bank’s ability to make distributions, including paying dividends or buying back shares.

The effectiveness of the Company’s asset management activities are critical to its ability to improve, resolve or liquidate nonperforming loans and other real estate and thereby reduce loan losses and other real estate expense.

In recent years, the Company has undertaken various initiatives to enhance its credit review, loan administration and special asset management and administration procedures, and believes that these enhancements have begun to reduce the levels of the Company’s problem and potential problem assets. However, continued improvement is dependent to a degree on market conditions and other factors beyond the Company’s control and if the Company is unable to successfully manage its problem and potential problem assets in a timely manner, it could experience materially increased loan losses and other real estate expenses.

We expect that foreclosed real estate expense will continue to be a material component of noninterest expense.

As the Company continues to resolve non-performing real estate loans, it continues to have elevated levels of other real estate owned primarily through foreclosures or acquisitions by deed in lieu of foreclosures of raw land and properties from commercial real estate developers. Expense related to other real estate owned consists of three types of charges: maintenance costs, valuation adjustments owed on new appraisal values and gains or losses on disposition. These charges will likely remain at above historical levels as the Company’s level of other real estate owned remains elevated, and also if local real estate values again begin to decline, negatively affecting the Company’s results of operations.

The Company is dependent on its information technology and telecommunications systems and third-party servicers, and systems failures, interruptions or breaches of security could have an adverse effect on its financial condition and results of operations.

The Company’s operations rely on the secure processing, storage and transmission of confidential and other information in its computer systems and networks. Although the Company takes protective measures and endeavors to modify these systems as circumstances warrant, the security of its computer systems, software and networks may be vulnerable to breaches, unauthorized access, misuse, computer viruses or other malicious code and other events that could have a security impact. The Company outsources many of its major systems, such as data processing, loan servicing and deposit processing systems. The failure of these systems, or the termination of a third-party software license or service agreement on which any of these systems is based, could interrupt the Company’s operations. Because the Company’s information technology and telecommunications systems interface with and depend on third-party systems, the Company could experience service denials if demand for such services exceeds capacity or such third-party systems fail or experience interruptions. If sustained or repeated, a system failure or service denial could result in a deterioration of the Company’s ability to process new and renewal loans, gather deposits and provide customer service, compromise its ability to operate effectively, damage its reputation, result in a loss of customer business

37

and/or subject it to additional regulatory scrutiny and possible financial liability, any of which could have a material adverse effect on the Company’s financial condition and results of operations.

In addition, the Company provides its customers the ability to bank remotely, including over the internet. The secure transmission of confidential information is a critical element of remote banking. The Company’s network could be vulnerable to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches. The Company may be required to spend significant capital and other resources to protect against the threat of security breaches and computer viruses, or to alleviate problems caused by security breaches or viruses. To the extent that the Company’s activities or the activities of its customers involve the storage and transmission of confidential information, security breaches and viruses could expose the Company to claims, litigation and other possible liabilities. Any inability to prevent security breaches or computer viruses could also cause existing customers to lose confidence in the Company’s systems and could adversely affect the Company’s reputation, results of operations and ability to attract and maintain customers and businesses. In addition, a security breach could also subject the Company to additional regulatory scrutiny, expose it to civil litigation and possible financial liability and cause reputational damage.

Environmental liability associated with commercial lending could result in losses.

In the course of business, the Bank may acquire, through foreclosure, properties securing loans it has originated or purchased which are in default. Particularly in commercial real estate lending, there is a risk that hazardous substances could be discovered on these properties. In this event, the Company, or the Bank, might be required to remove these substances from the affected properties at the Company’s sole cost and expense. The cost of this removal could substantially exceed the value of affected properties. The Company and the Bank may not have adequate remedies against the prior owner or other responsible parties and could find it difficult or impossible to sell the affected properties. These events could have a material adverse effect on the Company’s business, results of operations and financial condition.

If the federal funds rate remains at current extremely low levels, the Company’s net interest margin, and consequently the Company’s net earnings, may be negatively impacted.

Because of significant competitive pressures in the Company’s market and the negative impact of these pressures on the Company’s deposit and loan pricing, coupled with the fact that a significant portion of the Company’s loan portfolio has variable rate pricing that moves in concert with changes to the FRB’s federal funds rate (which is at an extremely low rate as a result of current economic conditions), the Company’s net interest margin may be negatively impacted. Additionally, the amount of non-accrual loans and other real estate owned has been and may continue to be elevated. The Company also expects loan pricing to remain competitive in 2016 and believes that economic factors affecting broader markets will likely result in reduced yields for the Company’s investment securities portfolio as prepayments continue to escalate.  As a result, the Company’s net interest margin, and consequently its profitability, may continue to be negatively impacted in 2016 and beyond.

Liquidity needs could adversely affect the Company’s results of operations and financial condition.

The Company relies on dividends from the Bank as its primary source of funds. The primary source of funds of the Bank are customer deposits and loan repayments. While scheduled loan repayments are a relatively stable source of funds, they are subject to the ability of borrowers to repay the loans. The ability of borrowers to repay loans can be adversely affected by a number of factors, including changes in economic conditions, adverse trends or events affecting business industry groups, reductions in real estate values or markets, business closings or lay-offs, inclement weather, natural disasters and international instability. Additionally, deposit levels may be affected by a number of factors, including rates paid by competitors, general interest rate levels, deposit customers’ views on the Bank’s financial strength, returns available to customers on alternative investments and general economic conditions. Accordingly, the Company may be required from time to time to rely on secondary sources of liquidity to meet withdrawal demands or otherwise fund operations. Such sources include Federal Home Loan Bank (“FHLB”) advances and federal funds lines of credit from correspondent banks and the Federal Reserve Bank of Atlanta. While the Company believes that these sources are currently adequate, there can be no assurance they will be sufficient to meet future liquidity demands.

Competition from financial institutions and other financial service providers may adversely affect the Company’s profitability.

The banking business is highly competitive and the Company experiences competition in each of its markets from many other financial institutions. The Company competes with commercial banks, credit unions, savings and loan associations, mortgage banking firms, consumer finance companies, securities brokerage firms, insurance companies, money market funds, and other mutual funds, as well as other community banks and super-regional and national financial institutions that operate

38

offices in the Company’s primary market areas and elsewhere. Many of the Company’s competitors are well-established, larger financial institutions that have greater resources and lending limits and a lower cost of funds than the Company has.

Additionally, the Company faces competition from similarly sized and smaller community banks, including those with senior management who were previously affiliated with other local or regional banks or those controlled by investor groups with strong local business and community ties. These community banks may offer higher deposit rates or lower cost loans in an effort to attract the Company’s customers, and may attempt to hire the Company’s management and employees.

The Company competes with these other financial institutions both in attracting deposits and in making loans. In addition, the Company has to attract its customer base from other existing financial institutions and from new residents. This competition has made it more difficult for the Company to make new loans and at times has forced the Company to offer higher deposit rates. Price competition for loans and deposits might result in the Company earning less interest on its loans and paying more interest on its deposits, which reduces the Company’s net interest income. The Company’s profitability depends upon its continued ability to successfully compete with an array of financial institutions in its market areas.

The Company’s key management personnel may leave at any time.

The Company’s future success depends to a significant extent on the continued service of its key management personnel, especially Randall Clemons, its president and chief executive officer, and Elmer Richerson, the president of the Bank. While the Company does not have employment agreements with any of its personnel and can provide no assurance that it will be able to retain any of its key officers and employees or attract and retain qualified personnel in the future, it has entered into non-competition agreements with such persons which would prevent them in most circumstances, from competing with the Bank for one year following their termination. In addition, these persons are parties to certain deferred compensation, supplemental retirement and equity incentive plans, the benefits of which would cease to accrue upon the termination of the person’s employment with the Company or the Bank.

The Company, as well as the Bank, operate in an increasingly highly regulated environment and are supervised and examined by various federal and state regulatory agencies who may adversely affect the Company’s ability to conduct business.

The TDFI and the FRB supervise and examine the Bank and the Company, respectively. Because the Bank’s deposits are federally insured, the FDIC also regulates its activities. These and other regulatory agencies impose certain regulations and restrictions on the Bank, including:

• explicit standards as to capital and financial condition;

• limitations on the permissible types, amounts and extensions of credit and investments;

• restrictions on permissible non-banking activities; and

• restrictions on dividend payments.

Federal and state regulatory agencies have extensive discretion and power to prevent or remedy unsafe or unsound practices or violations of law by banks and bank holding companies. As a result, the Company must expend significant time and expense to assure that it is in compliance with regulatory requirements and agency practices.

The Company, as well as the Bank, also undergoes periodic examinations by one or more regulatory agencies. Following such examinations, the Company or the Bank may be required, among other things, to make additional provisions to its allowance for loan loss or to restrict its operations. These actions would result from the regulators’ judgments based on information available to them at the time of their examination. The Bank’s operations are also governed by a wide variety of state and federal consumer protection laws and regulations. These federal and state regulatory restrictions limit the manner in which the Company and the Bank may conduct business and obtain financing. These laws and regulations can and do change significantly from time to time, and any such changes could adversely affect the Company’s results of operations.

Federal or state legislation or regulation may increase the Company’s expenses and reduce earnings.

Federal bank regulators are increasing regulatory scrutiny, and additional restrictions (including those originating from the Dodd-Frank Act) on financial institutions have been proposed or adopted by regulators and by Congress. Changes in federal legislation, regulation or policies, such as bankruptcy laws, deposit insurance, consumer protection laws, and capital requirements, among others, can result in significant increases in the Company’sexpenses and/or charge-offs, which may adversely affect its earnings. Changes in state or federal tax laws or regulations can have a similar impact. Many state and municipal governments

39

are under financial stress due to the economy. As a result, these governments could seek to increase their tax revenues through increased tax levies which could have a meaningful impact on the Company’s results of operations. Furthermore, financial institution regulatory agencies continue to be very aggressive in responding to concerns and trends identified in examinations, including the continued issuance of additional formal or informal enforcement or supervisory actions. These actions, whether formal or informal, could result in the Company’sor the Bank’s agreeing to limitations or monetary penalties or to take actions that limit its operational flexibility, restrict its growth or increase its capital or liquidity levels, any of which could materially and adversely affect the Company’s results of operations. Failure to comply with any formal or informal regulatory restrictions, including informal supervisory actions, could lead to further regulatory enforcement actions. Negative developments in the financial services industry and the impact of recently enacted or new legislation in response to those developments could negatively impact the Company’s operations by restricting its business operations, including its ability to originate or sell loans, and adversely impact its financial performance. In addition, industry, legislative or regulatory developments may cause the Company to materially change its existing strategic direction, capital strategies, compensation or operating plans.

Implementation of the various provisions of the Dodd-Frank Act has resulted in increases in the Company’s operating costs and may continue to cause additional increases, and implementation of those provisions of the Dodd-Frank Act that are not yet implemented could have a material effect on the Company’s business, financial condition or results of operations.

On July 21, 2010, President Obama signed the Dodd-Frank Act. This landmark legislation includes, among other things, (i) the creation of a Financial Services Oversight Counsel to identify emerging systemic risks and improve interagency cooperation; (ii) the elimination of the Office of Thrift Supervision and the transfer of oversight of federally chartered thrift institutions and their holding companies to the Office of the Comptroller of the Currency and the Federal Reserve; (iii) the creation of a Consumer Financial Protection Agency authorized to promulgate and enforce consumer protection regulations relating to financial products that would affect banks and non-bank finance companies; (iv) the establishment of new capital and prudential standards for banks and bank holding companies; (v) the termination of investments by the U.S. Treasury under the U.S. Treasury’s Troubled Asset Relief Program; (vi) enhanced regulation of financial markets, including the derivatives, securitization and mortgage origination markets; (vii) the elimination of certain proprietary trading and private equity investment activities by banks; (viii) the elimination of barriers to de novo interstate branching by banks; (ix) a permanent increase of the previously implemented temporary increase of FDIC deposit insurance to $250,000; (x) the authorization of interest-bearing transaction accounts; and (xi) changes in how the FDIC deposit insurance assessments will be calculated and an increase in the minimum designated reserve ratio for the Deposit Insurance Fund.

Certain provisions of the legislation are not immediately effective or are subject to required studies and implementing regulations. Further, community banks with less than $10 billion in assets (like the Bank) are exempt from certain provisions of the legislation. Although a number of regulations implementing portions of the Dodd-Frank Act have been promulgated, the Company is still unable to predict how the remaining portions of this legislation may be interpreted and enforced or how implementing regulations and supervisory policies may affect it. There can be no assurance that these or future reforms will not significantly increase the Company’s compliance or operating costs or otherwise have a significant impact on the Company’s business, financial condition and results of operations.

The Company’s asset valuation may include methodologies, estimations and assumptions which are subject to differing interpretations and could result in changes to asset valuations that may materially adversely affect its results of operations or financial condition.

The Company uses estimates, assumptions, and judgments when financial assets and liabilities are measured and reported at fair value. Assets and liabilities carried at fair value inherently result in a higher degree of financial statement volatility. Fair values and the information used to record valuation adjustments for certain assets and liabilities are based on quoted market prices and/or other observable inputs provided by independent third-party sources, when available. When such third-party information is not available, fair value is estimated primarily by using cash flow and other financial modeling techniques utilizing assumptions such as credit quality, liquidity, interest rates and other relevant inputs. Changes in underlying factors, assumptions, or estimates in any of these areas could materially impact the Company’s future financial condition and results of operations.

During periods of market disruption, including periods of significantly rising or high interest rates, rapidly widening credit spreads or illiquidity, it may be difficult to value certain assets if trading becomes less frequent and/or market data becomes less observable. There may be certain asset classes that were in active markets with significant observable data that become illiquid due to the current financial environment. In such cases, certain asset valuations may require more subjectivity and management judgment. As such, valuations may include inputs and assumptions that are less observable or require greater estimation. Further, rapidly changing and unprecedented credit and equity market conditions could materially impact the valuation of assets as reported within the Company’s consolidated financial statements and the period-to-period changes in value could vary significantly. Decreases in value may have a material adverse effect on results of operations or financial condition.

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Valuation methodologies which are particularly susceptible to the conditions mentioned above include those used to value certain securities in the Company’s available for sale investment portfolio such as auction rate securities and non-agency mortgage and asset-backed securities, in addition to non-marketable private equity securities, loans held for sale and intangible assets.

The Company’s common stock is thinly traded, and recent prices may not reflect the prices at which the stock would trade in an active trading market.

The Company’s common stock is not traded through an organized exchange, but rather is traded in individually-arranged transactions between buyers and sellers. Therefore, recent prices at which the stock has traded may not necessarily reflect the actual value of the Company’s common stock. A shareholder’s ability to sell the shares of Company common stock in a timely manner may be substantially limited by the lack of a trading market for the common stock.

An investment in the Company’s common stock is not an insured deposit.

The Company’s common stock is not a bank deposit and, therefore, is not insured against loss by the FDIC, any other deposit insurance fund or by any other public or private entity. Investment in the Company’s common stock is inherently risky for the reasons described in this “Risk Factors” section and elsewhere in this report and is subject to the equity market forces like other common stock. As a result, if you acquire the Company’s stock, you could lose some or all of your investment.

Item 1B. Unresolved Staff Comments.

None.

Item 2. Properties

The Company’s main office is owned by the Company and consists of approximately four acres at 623 West Main Street, Lebanon, Tennessee. The building is a two story, brick building, with approximately 35,000 square feet. The lot has approximately 350 feet of road frontage on West Main Street. In addition thereto, the Bank has twenty-fivebranch locations located at the following locations: 1436 West Main Street, Lebanon, Tennessee; 1444 Baddour Parkway, Lebanon, Tennessee; 200 Tennessee Boulevard, Lebanon, Tennessee; 8875 Stewart’s Ferry Pike, Gladeville, Tennessee; 402 Public Square, Watertown, Tennessee; 1476 North Mt. Juliet Road, Mt. Juliet, Tennessee; 11835 Highway 70, Mount Juliet, Tennessee; 1130 Castle Heights Avenue North, Lebanon, Tennessee; 127 McMurry Blvd., Hartsville, Tennessee; the Wal-Mart Supercenter, Lebanon, Tennessee; 440 Highway 109 North, Lebanon, Tennessee; 4736 Andrew Jackson Parkway in Hermitage, Tennessee; 3110 Memorial Blvd in Murfreesboro, Tennessee; 210 Commerce Drive in Smyrna, Tennessee; 2640 South Church Street, Murfreesboro, Tennessee; 217 Donelson Pike, Nashville, Tennessee; 710 NW Broad in Murfreesboro, Tennessee; 576 West Broad Street in Smithville, Tennessee; 306 Brush Creek Road in Alexandria, Tennessee; 1300 Main Street North in Carthage, Tennessee; 7 New Middleton Highway in Gordonsville, Tennessee; 709 South Mt. Juliet Road, Mt. Juliet, Tennessee; 455 West Main Street, Gallatin, Tennessee; 175 East Main Street, Hendersonville, Tennessee; 320 South Jefferson Avenue, Cookeville, Tennessee; a Loan Production Office at 393 Maple Street Suite 100-A in Gallatin, Tennessee and a Loan Production Office at 161 Harold court in Franklin, Tennessee.

The Mt. Juliet office contains approximately 16,000 square feet of space; the Castle Heights Office contains 2,400 square feet of space; the Hartsville Office contains 8,000 square feet of space; the Leeville-109 branch contains approximately 4,000 square feet. The Hermitage branch opened in the fall of 1999 and contains 8,000 square feet of space. The Gladeville branch contains approximately 3,400 square feet of space. The Lebanon facility at Tennessee Boulevard was expanded in 1997 to 2,200 square feet of space. The Mt. Juliet facility on Highway 70 was completed in July 2004 and contains approximately 3,450 square feet of space and the Providence facility which was opened in 2011 contains approximately 4,450 square feet of space. The NorthWest Broad Street facility was relocated from a leased office to an office owned by the Bank in 2011 and contains approximately 6,300 square feet of space. The Smyrna office opened in September of 2006 and contains approximately 3,600 square feet of space. The Memorial Blvd office in Murfreesboro opened in October of 2006 and contains approximately 7,800 square feet of space. Also, the South Church Street office in Murfreesboro opened in January 2008 and contains approximately 7,800 square feet of space. Each of the branch facilities of the Bank not otherwise described above contains approximately 1,000 square feet of space.

The Bank also has a facility at 576 West Broad Street in Smithville, Tennessee which was expanded in 2001 and now contains approximately 10,300 square feet of space and a facility at 306 Brush Creek Road in Alexandria, Tennessee

41

which occupies approximately 2,400 square feet of space. The Bank owns both facilities. The Bank also owns a building at 1300 Main Street North, Carthage, Tennessee, which was expanded in 2005 and now contains approximately 11,000 square feet and a second facility in Gordonsville, Tennessee at 7 New Middleton Highway, Gordonsville, Tennessee. The Bank owns a building at 455 West Main Street in Gallatin, Tennessee which occupies approximately 4,800 square feet of space and a building at 175 East Main Street in Hendersonville, Tennessee which occupies approximately 6,300 square feet of space. The Bank owns a building at 217 Donelson Pike, Donelson, Tennessee which occupies approximately 8,000 square feet of space and a building at 320 South Jefferson Avenue, Cookeville, Tennessee, which occupies approximately 6,300 square feet of space. The Bank owns all of its branch facilities except for the Lebanon facility at Tennessee Boulevard, its space in the Wal-Mart Supercenter, and its Loan Production office in Gallatin. The Bank also leases space at seven locations within Wilson County, DeKalb County, Rutherford County, DavidsonCounty, Smith County and Cannon County where it maintains and operates automatic teller machines.

Item 3. Legal Proceedings

As of the date hereof, there are no material pending legal proceedings to which the Company or any of its subsidiaries is a party or of which any of its properties are subject; nor are there material proceedings known to the Company or its subsidiaries to be contemplated by any governmental authority; nor are there material proceedings known to the Company or its subsidiaries, pending or contemplated, in which any director, officer or affiliate or any principal security holder of the Company or any of its subsidiaries or any associate of any of the foregoing, is a party or has an interest adverse to the Company or any of its subsidiaries.

Item 4. Mine Safety Disclosures

Not Applicable.

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PART II

Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchasers of Equity Securities

Information required by this item is contained under the heading “Holding Company & Stock Information” on page 91 of the Company’s 2015Annual Report and is incorporated herein by reference.

The Company did not repurchase any shares of its common stock during the quarter ended December 31, 2015.

Item 6. Selected Financial Data

Information required by this item is contained under the heading “Wilson Bank Holding Company Financial Highlights (Unaudited)” on page 16 of the Company’s 2015Annual Report and is incorporated herein by reference.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Information required by this item is contained under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as set forth on pages 17 through 39 of the Company’s 2015Annual Report and is incorporated herein by reference.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Information required by this item is contained under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Quantitative and Qualitative Disclosures About Market Risk” as set forth on pages 34-35 of the Company’s 2015Annual Report and is incorporated herein by reference.

Item 8. Financial Statements and Supplementary Data

The consolidated financial statements and the independent auditor’s report of Maggart & Associates, P.C. required by this item are contained in pages 41 through 90 of the Company’s 2015 Annual Report and are incorporated herein by reference.

Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by it in the reports that if files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. The Company carried out an evaluation, under the supervision and with the participation of its management, including its Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of its disclosure controls and procedures as of the end of the period covered by this report. Based on the evaluation of these disclosure controls and procedures, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective.

Management Report on Internal Control Over Financial Reporting

Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The Company’s internal control system was designed to provide reasonable assurance to the Company’s management and board of directors regarding the preparation and fair presentation of published financial statements. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

The Company’s management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2015. In making this assessment, it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework (2013).

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Based on that assessment, management concluded that, as of December 31, 2015, the Company’s internal control over financial reporting was effective based on those criteria.

The Company’s independent registered public accounting firm has issued an attestation report on the Company’s internal control over financial reporting, which report is contained on page 40 of Wilson Bank Holding Company’s 2015 Annual Report and is incorporated herein by reference.

Changes in Internal Controls

No changes were made to the Company’s internal control over financial reporting during the quarter ended December 31, 2015 that have materially affected, or that are reasonably likely to materially affect, the Company’s internal control over financial reporting

Item 9B. Other Information

None.

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PART III

Item 10.Directors, Executive Officers and Corporate Governance

The information required by this item with respect to directors is incorporated herein by reference to the sections entitled “Item-1 Election of Directors-Information Concerning Nominees” and “Item-1 Election of Directors-Director Qualifications” in the Company’s definitive proxy materials filed in connection with the Company’s 2016 Annual Meeting of Shareholders. The information required by this item with respect to executive officers is set forth below:

James Randall Clemons (63) - Mr. Clemons is President and Chief Executive Officer of the Company and the Chief Executive Officer of the Bank. Mr. Clemons also serves on the Board of Directors of the Company and the Bank. He has held such positions with the Company since its formation in March 1992 and has held his Bank positions since the Bank commenced operations in May 1987. Prior to that time, Mr. Clemons served as Senior Vice President and Cashier for Peoples Bank, Lebanon, Tennessee.

Elmer Richerson (63) - Mr. Richerson joined the Bank in February 1989. Prior to such time, Mr. Richerson was the manager of the Lebanon branch of Heritage Federal Savings and Loan Association from March 1988 to February 1989. From September 1986 until March 1988, Mr. Richerson was a liquidation assistant for the Federal Deposit Insurance Corporation. Since May 2002, Mr. Richerson has served as President of the Bank. From 1997 to May 2002, Mr. Richerson served as an Executive Vice President and Senior Loan Officer of the Bank and oversaw the branch administration for the Bank. Mr. Richerson also serves on the Board of Directors of the Bank and in 1998 was elected to serve on the Board of Directors of the Company as well.

Gary Whitaker (58) - Mr. Whitaker joined the Bank in May 1996. Prior to that time Mr. Whitaker was employed with NationsBank of Tennessee, N.A. in Nashville (and its predecessors) from 1979. He has held positions in collections, as branch manager, in construction lending, retail marketing, automobile lending, loan administration, operations analyst, as Vice President, Senior Vice President and most recently as Executive Vice President since 2002. His principal duties include overseeing the Bank’s lending function and loan operations.

Lisa Pominski (51) - Ms. Pominski is Senior Vice President and the Chief Financial Officer of the Bank and the Company and is the Company’s principal financial and accounting officer. Ms. Pominski has held several positions including Asst. Cashier, Asst. Vice President and Vice President since the Bank’s formation in May of 1987. Prior to 1987 Ms. Pominski was employed by People’s Bank, Lebanon, TN.

John McDearman (47) - Mr. McDearman joined the Bank in November of 1998. He has held positions in branch administration and commercial lending. From November 2002 to January 2009, he held the position of Senior Vice President-Central Division of the Bank. Currently he serves as Executive Vice President, a position he has held since January 2009. Prior to joining the Bank in 1998 he was Assistant Vice President, Banking Center Manager for NationsBank, Chattanooga, TN, a position he held from 1994 to 1998. His primary duties include the continuing development of the commercial loan portfolio and the supervision of the Sumner County offices.

All officers serve at the pleasure of the Board of Directors. No officers are involved in any legal proceedings which are material to an evaluation of their ability and integrity.

The Company has adopted a code of conduct for its senior executive and financial officers (the “Code of Conduct”), a copy of which will be provided to any person, without charge, upon request to the Company at 623 West Main Street, Lebanon, Tennessee 37087, Attention: Corporate Secretary. The Company will make any legally required disclosures regarding amendments to, or waivers of, provisions of its Code of Conduct either in a Current Report on Form 8-K or on its website, in each case in accordance with the rules and regulations of the SEC.

The information required by this item with respect to the Company’s audit committee and any “audit committee financial expert” is incorporated herein by reference to the section entitled “Item-1 Election of Directors - Description of the Board and Committees of the Board” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

The information required by this item with respect to compliance with Section 16(a) of the Exchange Act is incorporated herein by reference to the Section entitled “Item-1 Election of Directors - Compliance with Section 16(a) of the Securities Exchange Act of 1934” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

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Item 11. Executive Compensation

Information required by this item is incorporated herein by reference to the sections entitled “Executive Compensation” and “Personnel Committee Interlocks and Insider Participation” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Information required by this item is incorporated herein by reference to the section entitled “Stock Ownership” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

Item 13. Certain Relationships and Related Transactions, and Director Independence

Information required by this item with respect to certain relationships and related transactions is incorporated herein by reference to the section entitled “Certain Relationships and Related Transactions” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

Information required by this item with respect to director independence is incorporated herein by reference to the section entitled “Item-1 Election of Directors - Director Independence” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

Item 14. Principal Accountant Fees and Services

Information required by this item is incorporated herein by reference to the section entitled “Item-2 Ratification of the Appointment of the Independent Registered Public Accounting Firm” in the Company’s definitive proxy materials filed in connection with the 2016 Annual Meeting of Shareholders.

Item 15. Exhibits, Financial Statement Schedules

(a)(1)    Financial Statements. See Item 8.

(a)(2)    Financial Statement Schedules. Not Applicable.

(a)(3)    Exhibits. See Index to Exhibits.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WILSON BANK HOLDING COMPANY
By:	/s/ J. Randall Clemons
	J. Randall Clemons
	President and Chief Executive Officer
Date:	March 14, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date
/s/ J. Randall Clemons J. Randall Clemons	President, Chief Executive Officer and Director (Principal Executive Officer)	March 14, 2016
/s/ Lisa Pominski Lisa Pominski	Chief Financial Officer (Principal Financial and Accounting Officer)	March 14, 2016
/s/ H. Elmer Richerson H. Elmer Richerson	Executive Vice President & Director	March 14, 2016
/s/ Charles Bell Charles Bell	Director	March 14, 2016
/s/ Jack W. Bell Jack W. Bell	Director	March 14, 2016
/s/ James F. Comer James F. Comer	Director	March 14, 2016
/s/ Jerry L. Franklin Jerry L. Franklin	Director	March 14, 2016

/s/ John B. Freeman John B. Freeman	Director	March 14, 2016
/s/ William P. Jordan William P. Jordan	Director	March 14, 2016
/s/Harold R. Patton Harold R. Patton	Director	March 14, 2016
/s/ James Anthony Patton James Anthony Patton	Director	March 14, 2016

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INDEX TO EXHIBITS

2.1	Agreement and Plan of Merger dated November 16, 2004, among Wilson Bank Holding Company, Wilson Bank and Trust and DeKalb Community Bank. (Pursuant to Item 601(b)(2) of Regulation S-K, the Schedules to this agreement are omitted, but will be provided supplementally to the Securities and Exchange Commission upon request.) (incorporated herein by reference to Exhibit 2.1 of the Company’s Registration Statement on Form S-4 (Registration No. 333-121943)).
2.2	Agreement and Plan of Merger dated November 16, 2004, among Wilson Bank Holding Company, Wilson Bank and Trust and Community Bank of Smith County. (Pursuant to Item 601(b)(2) of Regulation S-K, the schedules to this agreement are omitted, but will be provided supplementally to the Securities and Exchange Commission upon request.) (incorporated herein by reference to Exhibit 2.1 of the Company’s Registration Statement on Form S-4 (Registration No. 333-122534)).
3.1	Charter of Wilson Bank Holding Company, as amended (restated for SEC electronic filling purposes only) (incorporated herein by reference to Exhibit 3.1 of the Company’s Registration Statement on Form S-4 (Registration No. 333-121943)).
3.2	Bylaws of Wilson Bank Holding Company, as amended (restated for SEC electronic filling purposes only) (incorporated herein by reference to Exhibit 3.2 of the Company’s Registration Statement on Form S-4 (Registration No. 333-121943)).
4.1	Specimen Common Stock Certificate. (incorporated herein by reference to Exhibit 4.1 of the Company’s Registration Statement on Form S-4 (Registration No. 333-121943)).
10.1	Wilson Bank Holding Company 1999 Stock Option Plan (incorporated herein by reference to Exhibit 4 of the Company’s Registration Statement on Form S-8 (Registration No. 333-32442)).*
10.2	Wilson Bank Holding Company 2009 Stock Option Plan (incorporated herein by reference to Exhibit 4.3 of the Company’s Registration Statement on Form S-8 (Registration No. 333-158621)).*
10.3	Form of Wilson Bank Holding Company Incentive Stock Option Agreement (incorporated herein by reference to Exhibit 10.7 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005 (File No. 000-20402)).*
10.4	Amendment, dated December 30, 2008, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.5	Amendment, dated December 30, 2008, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.6	Amendment, dated December 30, 2008, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.3 the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009).*
10.7	Amendment, dated December 30, 2008, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*

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10.8	Amendment, dated December 30, 2008, to Executive Salary Continuation Agreement dated as of January 1, 2006, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.6 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.9	Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.7 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.10	Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.8 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.11	Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.9 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.12	Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.11 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.13	Executive Salary Continuation Agreement dated as of July 28, 2006, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.12 of the Company’s Current Report on Form 8-K filed with the SEC on January 6, 2009 (File No. 000-20402)).*
10.14	Amendment, dated November 23, 2012, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.15	Amendment, dated November 23, 2012, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.16	Amendment, dated November 23, 2012, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.17	Amendment, dated November 23, 2012, to Amended and Restated Executive Salary Continuation Agreement dated as of October 7, 2002, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.4 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.18	Amendment, dated November 23, 2012, to Executive Salary Continuation Agreement dated as of January 1, 2006, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.19	Second Amendment, dated November 23, 2012 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002 by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.6 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*

49

10.20	Second Amendment, dated November 23, 2012 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002 by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.7 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.21	Second Amendment, dated November 23, 2012 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002 by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.8 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.22	Second Amendment, dated November 23, 2012 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002 by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.9 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.23	Amendment, dated November 23, 2012 to Wilson Bank and Trust Life Insurance Endorsement Method Split Dollar Plan Agreement dated as of July 28, 2006 by and between Wilson Bank and John C. McDearman III (incorporated by reference to Exhibit 10.10 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.24	Supplemental Executive Retirement Plan Agreement, dated November 23, 2012, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.11 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.25	Supplemental Executive Retirement Plan Agreement, dated November 23, 2012, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.12 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.26	Supplemental Executive Retirement Plan Agreement, dated November 23, 2012, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.13 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.27	Supplemental Executive Retirement Plan Agreement, dated November 23, 2012, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.14 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.28	Supplemental Executive Retirement Plan Agreement, dated November 23, 2012, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.15 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.29	Amendment, dated August 21, 2003 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.16 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.30	Amendment, dated August 21, 2003 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.17 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.31	Amendment, dated August 21, 2003 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.13 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*

50

10.32	Amendment, dated August 21, 2003 to Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.19 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.33	Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.20 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.34	Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.21 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.35	Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.22 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.36	Wilson Bank and Trust Amended and Restated Life Insurance Endorsement Method Split Dollar Plan Agreement dated October 7, 2002, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.23 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.37	Wilson Bank and Trust Life Insurance Endorsement Method Split Dollar Plan Agreement dated July 28, 2006, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.24 of the Company’s Current Report on Form 8-K filed with the SEC on November 29, 2012).*
10.38	Executive Survivor Income Agreement, dated April 14, 2014, by and between the Bank and Lisa Pominski (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.39	Executive Survivor Income Agreement, dated April 14, 2014, by and between the Bank and Gary Whitaker (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.40	Executive Survivor Income Agreement, dated April 14, 2014, by and between the Bank and John C. McDearman, III (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.41	Director Survivor Income Agreement, dated April 14, 2014, by and between the Bank and J. Randall Clemons (incorporated by reference to Exhibit 10.4 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.42	Director Survivor Income Agreement, dated April 14, 2014, by and between the Bank and H. Elmer Richerson (incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.43	Director Survivor Income Agreement, dated April 14, 2014, by and between the Bank and Jack Bell (incorporated by reference to Exhibit 10.6 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).

51

10.44	Director Survivor Income Agreement, dated April 14, 2014, by and between the Bank and James Comer (incorporated by reference to Exhibit 10.7 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.45	Director Survivor Income Agreement, dated April 14, 2014, by and between the Bank and James Patton (incorporated by reference to Exhibit 10.8 of the Company’s Current Report on Form 8-K filed with the SEC on April 18, 2014).
10.46	Director Survivor Income Agreement, dated April 6, 2015, by and between the Bank and William Jordan.
10.47	Supplemental Executive Retirement Plan Agreement, dated May 22, 2015, by and between Wilson Bank and Trust and J. Randall Clemons (incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed with the SEC on May 29, 2015).*
10.48	Supplemental Executive Retirement Plan Agreement, dated May 22, 2015, by and between Wilson Bank and Trust and Elmer Richerson (incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K filed with the SEC on May 29, 2015).*
10.49	Supplemental Executive Retirement Plan Agreement, dated May 22, 2015, by and between Wilson Bank and Trust and Lisa T. Pominski (incorporated by reference to Exhibit 10.3 of the Company’s Current Report on Form 8-K filed with the SEC on May 29, 2015).*
10.50	Supplemental Executive Retirement Plan Agreement, dated May 22, 2015, by and between Wilson Bank and Trust and Gary Whitaker (incorporated by reference to Exhibit 10.4 of the Company’s Current Report on Form 8-K filed with the SEC on May 29, 2015).*
10.51	Supplemental Executive Retirement Plan Agreement, dated May 22, 2015, by and between Wilson Bank and Trust and John C. McDearman III (incorporated by reference to Exhibit 10.5 of the Company’s Current Report on Form 8-K filed with the SEC on May 29, 2015).*
13.1	Selected Portions of the Wilson Bank Holding Company Annual Report to Shareholders for the year ended December 31, 2014 incorporated by reference into items 1, 5, 6, 7, 7A and 8.
21.1	Subsidiaries of the Company.
23.1	Consent of Independent Registered Public Accounting Firm.
31.1	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of the Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of the Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	Interactive Data File.

*    Management compensatory plan or contract

52

EX-10.46

EXHIBIT 10.46

WILSON BANK & TRUST

Director Survivor Income Agreement

This DIRECTOR Survivor Income Agreement is made this 6th day of April, 2015, by and between Wilson Bank& Trustwith its main office in Lebanon, Tennessee, (“Bank”), and William Jordan (“Director”).

Whereas, to encourage the Director to remain in service to the Bank, the Bank is willing to provide benefits to the Director’s beneficiary(ies) if the Director dies prior to terminating services. The Bank will pay the benefits from its general assets, but only so long as one of its general assets is a life insurance policy on the Director’s life.

Now Therefore, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Bank and the Director hereby agree as follows.

1. Definitions

Whenever used in this Agreement, the following words and phrases shall have the meanings specified:

1. Termination of Service means that the Director shall have ceased being a member of the Board of Directors for any reason whatsoever. For purposes of this Agreement, if there is a dispute over the status of the Director or the date of termination, the Bank shall have the sole and absolute right to decide the dispute.

2. Entitlement to Benefit

1. Pre-Termination Survivor Income Benefit. If the Director dies prior to Termination of Service with the Bank, the Bank shall pay to the Director’s designated beneficiary in a single lump sum the survivor income benefit described in Paragraph 2.3.

2. Contingency for Payment. The Bank will pay the benefits from its general assets, but only so long as one of the Bank’s general assets is an enforceable life insurance policy on the Director’s life that was issued by Massachusetts Mutual Life Insurance Company or Midland National Life Insurance Company.

3. Amount of Benefits. If the Director dies prior to Termination of Service, the Bank shall pay the amount shown on Schedule A, attached to this Agreement. Any payments hereunder shall be paid to the Director’s beneficiary(ies) in a single lump sum within 90 days after submission of proof of a claim substantiating the Director’s death.

3. Beneficiaries

1. Beneficiary Designations. The Director shall designate a beneficiary by filing a written designation with the Bank. The Director's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Director. If the Director dies without a valid beneficiary designation, all payments shall be made to the Director's estate.

2. Facility of Payment. If a benefit is payable to a minor, to a person declared incompetent, or to a person incapable of handling the disposition of his or her property, the Bank may pay such benefit to the guardian, legal representative, or person having the care or custody of such minor, incompetent person or incapable person. The Bank may require proof of incompetence, minority, or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely discharge the Bank from all liability with respect to such benefit.

4. General Limitations

1. Termination. Notwithstanding any provision of this Agreement to the contrary, the Bank shall not pay any benefit under this Agreement if Termination of Service occurs as defined in Paragraph 1.1 above.

2. Suicide or Misstatement. The Bank shall not pay any benefit under this Agreement if the Director commits suicide within three years after the date of this Agreement. In addition, the Bank shall not pay any benefit under this Agreement if the Director has made any material misstatement of fact on any application or resume provided to the Bank, or on any application for any benefits provided by the Bank to the Director.

3. Removal. Notwithstanding any provision of this Agreement to the contrary, if the Director is removed from service or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or (g)(1), or is terminated for cause, all obligations of the Bank under this Agreement shall terminate as of the effective date of the order or Termination for Cause. Termination for Cause means the Bank has terminated the Director’s service for any of the following reasons:

(a) Gross negligence or gross neglect of duties;

(b) Commission of a felony or of a gross misdemeanor involving moral turpitude; or

(c) Fraud, disloyalty, or willful violation of any law or significant Bank policy committed in connection with the Director’s service and resulting in an adverse effect on the Bank.

4. Insolvency. Notwithstanding any provision of this Agreement to the contrary, if the Department of Banking appoints the Federal Deposit Insurance Corporation as receiver for the Bank all obligations under this Agreement shall terminate as of the date of the Bank’s declared insolvency.

5. Claims and Review Procedures

1. Claims Procedure. A participant or beneficiary (claimant) who has not received benefits under the Agreement that he or she believes should be paid shall make a claim for such benefits as follows:

(a) Initiation: Written Claim. The claimant initiates a claim by submitting to the Bank a written claim for the benefits.

(b) Timing of Bank Response. The Bank shall respond to such claimant within 90 days after receiving the claim. If the Bank determines that special circumstances require additional time for processing the claim, the Bank can extend the response period by an additional 90 days by notifying the claimant in writing, prior to the end of the initial 90-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Bank expects to render its decision.

(c) Notice of Decision. If the Bank denies part or all of the claim, the Bank shall notify the claimant in writing of such denial. The Bank shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

i. The specific reasons for the denial;

ii. A reference to the specific provisions of the Agreement on which the denial is based;

iii. A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed;

iv. An explanation of the Agreement’s review procedures and the time limits applicable to such procedures; and

v. A statement of the claimant’s right to bring a civil action under ERISA (Employee Retirement Income Security Act) Section 502(a) following an adverse benefit determination on review.

2. Review Procedure. If the Bank denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Bank of the denial, as follows:

(a) Initiation: Written Request. To initiate the review, the claimant, within 60 days after receiving the Bank’s notice of denial, must file with the Bank a written request for review.

(b) Additional Submissions: Information Access. The claimant shall then have the opportunity to submit written comments, documents, records, and other information relating to the claim. The Bank shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

(c) Considerations on Review. In considering the review, the Bank shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

(d) Timing of Bank Response. The Bank shall respond in writing to such claimant within 60 days after receiving the request for review. If the Bank determines that special circumstances require additional time for processing the claim, the Bank can extend the response period by an additional 60 days by notifying the claimant in writing, prior to the end of the initial 60-day period, that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Bank expects to render its decision.

(e) Notice of Decision. The Bank shall notify the claimant in writing of its decision on review. The Bank shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

i. The specific reasons for the denial;

ii. A reference to the specific provisions of the Agreement on which the denial is based;

iii. A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits; and

iv. A statement of the claimant’s right to bring a civil action under ERISA Section 502(a).

6. Miscellaneous

1. Amendments and Termination. The Bank may amend or terminate this Agreement at any time if, pursuant to legislative, judicial, or regulatory action, continuation of the Agreement would (i) cause benefits to be taxable to the Director prior to actual receipt, or (ii) result in significant financial penalties or other significantly detrimental ramifications to the Bank (other than the financial impact of paying the benefits). In addition, the Bank may modify Schedule A at its sole discretion.

2. Binding Effect. This Agreement shall bind the Director and the Bank and their beneficiaries, survivors, executors, administrators and transferees.

3. No Guarantee to Serve as Director. This Agreement is not a contract for service as a Director. It does not give the Director the right to remain a Director of the Bank, nor does it interfere with the Bank's right to discharge the Director. It also does not require the Director to remain in service nor interfere with the Director's

right to terminate service at any time.

4. Non-Transferability. Benefits under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

5. Tax Withholding. The Bank shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement.

6. Applicable Law. Except to the extent preempted by the laws of the United States of America, the validity, interpretation, construction, and performance of this Agreement shall be governed by and construed in accordance with the laws of the state of Tennessee, without giving effect to the principles of conflict of laws of such state.

7. Unfunded Arrangement. The Director’s beneficiary(ies) are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Bank to pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Director's life is a general asset of the Bank to which the Director and the Director’s beneficiary(ies) have no preferred or secured claim.

8. Entire Agreement. This Agreement constitutes the entire agreement between the Bank and the Director as to the subject matter hereof. No rights are granted to the Director’s beneficiary by virtue of this Agreement other than those specifically set forth herein.

9. Administration. The Bank shall have all powers which are necessary to administer this Agreement, including but not limited to:

(a) Interpreting the provisions of the Agreement;

(b) Establishing and revising the method of accounting for the Agreement;

(c) Maintaining a record of benefit payments; and

(d) Establishing rules and prescribing any forms necessary or desirable to administer the Agreement.

10. Named Fiduciary. For purposes of the Employee Retirement Income Security Act of 1974, if applicable, the Bank shall be the named fiduciary and plan administrator under this Agreement. The named fiduciary may delegate to others certain aspects of the management and operation responsibilities of the plan, including the employment of advisors and the delegation of ministerial duties to qualified individuals.

11. Severability. If for any reason any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not held so invalid, and each such other provision shall, to the full extent consistent with the law, continue in full force and effect. If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the remainder of such provision, not held so invalid and the remainder of such provision, together with all other provisions of this Agreement, shall continue in full force and effect to the full extent consistent with the law.

12. Headings. The headings of Sections herein are included solely for convenience of reference and shall not affect the meaning or interpretation of any provision of this Agreement.

13. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other address as either party may designate by like notice.

(a) If to the Bank, to:

Wilson Bank & Trust

ATT: Lisa Pominski

PO 768

Lebanon, TN 37088

(b) If to the Director, to:

William P Jordan

_________________________________

_________________________________

and to such other or additional person or persons as either party shall have designated to the other party in writing by like notice.

IN WITNESS WHEREOF, the Director and a duly authorized Bank Officer have signed this Agreement.

Director: Bank:

Wilson Bank & Trust

WILLIAM JORDAN

By:

(Signature of Director)

Its: President

SCHEDULE A

WILLIAM JORDAN
Age	Benefit Amount
51	400,000
52	400,000
53	400,000
54	400,000
55	400,000
56	400,000
57	400,000
58	400,000
59	400,000
60	400,000
61	400,000
62	400,000
63	400,000
64	400,000
65	400,000
66	400,000
67	400,000
68	400,000
69	400,000
70	400,000
71	400,000
72	400,000
73	400,000
74	400,000
75	384,907
76	369,564
77	353,447
78	336,538
79	318,891
80	0

EX-13.1

Exhibit 13.1

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Forward-Looking Statements

This report contains certain forward-looking statements regarding, among other things, the anticipated financial and operating results of the Company. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly release any modifications or revisions to these forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.

In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions investors that future financial and operating results may differ materially from those projected in forward-looking statements made by, or on behalf of, the Company. The words “expect,” “intend,” “should,” “may,” “could,” “believe,” “suspect,” “anticipate,” “seek,” “plan,” “estimate” and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical fact may also be considered forward-looking. Such forward-looking statements involve known and unknown risks and uncertainties, including, but not limited to those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, and also include, without limitation, (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for these losses, (ii) renewed deterioration in the real estate market conditions in the Company’s market areas, (iii) increased competition with other financial institutions, (iv) the deterioration of the economy in the Company’s market areas, (v) continuation of the extremely low short-term interest rate environment or rapid fluctuations in short-term interest rates, (vi) significant downturns in the business of one or more large customers, (vii) the inability of the Company to comply with regulatory capital requirements, including those resulting from recently adopted changes to capital calculation methodologies and required capital maintenance levels; (viii) changes in state or Federal regulations, policies, or legislation applicable to banks and other financial service providers, including regulatory or legislative developments arising out of current unsettled conditions in the economy, including implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, (ix) changes in capital levels and loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments, (x) inadequate allowance for loan losses, (xi) the effectiveness of the Company’s activities in improving, resolving or liquidating lower quality assets, (xii) results of regulatory examinations, (xii) the vulnerability of our network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xiv) the possibility of additional increases to compliance costs as a result of increased regulatory oversight; and (xv) loss of key personnel. These risks and uncertainties may cause the actual results or performance of the Company to be materially different from any future results or performance expressed or implied by such forward-looking statements. The Company’s future operating results depend on a number of factors which were derived utilizing numerous assumptions that could cause actual results to differ materially from those projected in forward-looking statements.

General

The Company is a registered bank holding company that owns 100% of the common stock of Wilson Bank and Trust (“Wilson Bank”), a state bank headquartered in Lebanon, Tennessee. The Company was formed in 1992.

Wilson Bank is a community bank headquartered in Lebanon, Tennessee, serving Wilson County, DeKalb County, Smith County, Trousdale County, Rutherford County, the eastern part of Davidson County, Putnam County, and Sumner County, Tennessee as its primary market areas. Generally, this market is the eastern portion of the Nashville-Davidson-Murfreesboro-Franklin, Tennessee metropolitan statistical area. At December 31, 2015, Wilson Bank had twenty-six locations in Wilson, Davidson, DeKalb, Smith, Sumner, Rutherford, Putnam, and Trousdale Counties. Management believes that these counties offer an environment for continued growth, and the Company’s target market is local consumers, professionals and small businesses. Wilson Bank offers a wide range of banking services, including checking, savings and money market deposit accounts, certificates of deposit and loans for consumer, commercial and real estate purposes. The Company also offers an investment center which offers a full line of investment services to its customers.

The following discussion and analysis is designed to assist readers in their analysis of the Company’s consolidated financial statements and should be read in conjunction with such consolidated financial statements.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Critical Accounting Estimates

The accounting principles we follow and our methods of applying these principles conform with U.S. generally accepted accounting principles and with general practices within the banking industry. In connection with the application of those principles, we have made judgments and estimates which, in the case of the determination of our allowance for loan losses and the assessment of impairment of the intangibles resulting from our mergers with Dekalb Community Bank and Community Bank of Smith County in 2005 have been critical to the determination of our financial position and results of operations. Additional information regarding significant accounting policies is described in Note 1 to the Financial Statements for the year ended December 31, 2015 in the Company’s Annual Report on Form 10-K.

Allowance for Loan Losses (“allowance”)—Our management assesses the adequacy of the allowance prior to the end of each calendar quarter. This assessment includes procedures to estimate the allowance and test the adequacy and appropriateness of the resulting balance. The level of the allowance is based upon management’s evaluation of the loan portfolio, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, economic conditions, industry and peer bank loan quality indicators and other pertinent factors, including regulatory recommendations. This evaluation is inherently subjective as it requires material estimates including the amounts and timing of future cash flows expected to be received on impaired loans that may be susceptible to significant change. Loan losses are charged off when management believes that the full collectability of the loan is unlikely. 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. Allocation of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, is deemed to be uncollectible.

A loan is impaired when, based on current information and events, it is probable that we will 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 will be collected as scheduled in the loan agreement.

An impairment allowance is recognized if the fair value of the loan is less than the recorded investment in the loan (recorded investment in the loan is the principal balance plus any accrued interest, net of deferred loan fees or costs and unamortized premium or discount). The impairment is recognized through the allowance. Loans that are impaired are recorded at the present value of expected future cash flows discounted at the loan’s effective interest rate, or if the loan is collateral dependent, impairment measurement is based on the fair value of the collateral, less estimated disposal costs. If the measure of the impaired loan is less than the recorded investment in the loan, the Company recognizes 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 follows appropriate accounting and regulatory guidance in determining impairment and accrual status of impaired loans.

The level of allowance maintained is believed by management to be adequate to absorb probable losses inherent in the portfolio at the balance sheet date. The allowance is increased by provisions charged to expense and decreased by charge-offs, net of recoveries of amounts previously charged-off.

In assessing the adequacy of the allowance, we also consider the results of our ongoing loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, the input from our independent loan reviewers, and reviews that may have been conducted by bank regulatory agencies as part of their usual examination process. We incorporate loan review results in the determination of whether or not it is probable that we will be able to collect all amounts due according to the contractual terms of a loan.

As part of management’s quarterly assessment of the allowance, management divides the loan portfolio into twelve segments based on bank call reporting requirements. Each segment is then analyzed such that an allocation of the allowance is estimated for each loan segment.

The allowance allocation begins with a process of estimating the probable losses in each of the twelve loan segments. The estimates for these loans are based on our historical loss data for that category over the last twenty quarters.

The estimated loan loss allocation for all twelve loan portfolio segments is then adjusted for several “environmental” factors. The allocation for environmental factors is particularly subjective and does not lend itself to exact mathematical calculation. This

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

amount represents estimated probable inherent credit losses which exist, but have not yet been identified, as of the balance sheet date, and are 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 or procedures and other influencing factors. These environmental factors are considered for each of the twelve loan segments, and the allowance allocation, as determined by the processes noted above for each component, is increased or decreased based on the incremental assessment of these various environmental factors.

We then test the resulting allowance by comparing the balance in the allowance to industry and peer information. Our management then evaluates the result of the procedures performed, including the result of our testing, and concludes on the appropriateness of the balance of the allowance in its entirety. The board of directors reviews and approves the assessment prior to the filing of quarterly and annual financial information.

Impairment of Intangible Assets—Long-lived assets, including purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated.

Goodwill and intangible assets that have indefinite useful lives are evaluated for impairment annually and are evaluated for impairment more frequently if events and circumstances indicate that the asset might be impaired. That annual assessment date is December 31. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. The Company first has the option to perform a qualitative assessment of goodwill to determine if impairment has occurred. Based upon the qualitative assessment, if the fair value of goodwill exceeds the carrying value, the evaluation of goodwill is complete. If the qualitative assessment indicates that impairment is present, the goodwill impairment analysis continues with a two-step test. The first step, used to identify potential impairment, involves comparing each reporting unit’s estimated fair value to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill is considered not to be impaired. If the carrying value exceeds estimated fair value, there is an indication of potential impairment and the second step is performed to measure the amount of impairment.

If required, the second step involves calculating an implied fair value of goodwill for each reporting unit for which the first step indicated potential impairment. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, by measuring the excess of the estimated fair value of the reporting unit, as determined in the first step, over the aggregate estimated fair values of the individual assets, liabilities and identifiable intangibles as if the reporting unit was being acquired in a business combination. If the implied fair value of goodwill exceeds the carrying value of goodwill assigned to the reporting unit, there is no impairment. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded for the excess. An impairment loss cannot exceed the carrying value of goodwill assigned to a reporting unit, and the loss establishes a new basis in the goodwill.

Other-than-temporary Impairment—Impaired securities are assessed quarterly for the presence of other-than-temporary impairment (“OTTI”). A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in a reduction in the carrying amount of the security. To determine whether OTTI has occurred, management considers factors such as (1) length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, and (3) the Bank’s ability and intent to hold the security for a period sufficient to allow for an anticipated recovery in fair value. If management deems a security to be OTTI, management reviews the present value of the future cash flows associated with the security. A shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is referred to as a credit loss. If a credit loss is identified, the credit loss is recognized as a charge to earnings and a new cost basis for the security is established. If management concludes that no credit loss exists and it is not more-likely-than-not that the Company will be required to sell the security before the recovery of the security’s cost basis, then the security is not deemed OTTI and the shortfall is recorded as a component of equity.

Results of Operations

Net earnings for the year ended December 31, 2015 were $23,863,000, an increase of $3,086,000, or 14.85%, compared to net earnings of $20,777,000 for 2014. Our 2014 net earnings were 30.93%, or $4,908,000, above our net earnings of $15,869,000 for

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

2013. Basic earnings per share were $3.13 in 2015, compared with $2.75 in 2014 and $2.12 in 2013. Diluted earnings per share were $3.13 in 2015, compared to $2.75 in 2014 and $2.12 in 2013. Net yield on earning assets for the year ended December 31, 2015 was 3.80%, compared to 3.75% and 3.74% for the years ended December 31, 2014 and December 31, 2013, respectively. Net interest spread for the year ended December 31, 2015 was 3.70%, compared to 3.65% and 3.62% for the years ended December 31, 2014 and December 31, 2013, respectively. See below for further discussion regarding variances related to net interest income, provision for loan losses, non-interest income, non-interest expense and income taxes.

Net Interest Income

Net interest income represents the amount by which interest earned on various earning assets exceeds interest paid on deposits and other interest-bearing liabilities and is the most significant component of the Company’s earnings. Total interest income in 2015 was $78,839,000, compared with $74,380,000 in 2014 and $71,814,000 in 2013, in each case excluding tax exempt adjustments relating to tax exempt securities. The increase in total interest income in 2015 was primarily attributable to an overall increase in loans and the resulting increase in the interest and fees earned on loans that outpaced an overall reduction in loan yields resulting from competition in our market area. The ratio of average earning assets to total average assets was 95.7%, 95.7% and 96.2% for each of the years ended December 31, 2015, 2014 and 2013, respectively. Average earning assets increased $126,619,000 from December 31, 2014 to December 31, 2015. The average rate earned on earning assets for 2015 was 4.26%, compared with 4.32% in 2014 and 4.40% in 2013. The decrease in yields is a direct reflection of the rate cuts implemented by the Federal Reserve Open Market Committee beginning in August 2007 that continued throughout most of 2015. However, the decreases in earning asset yields were offset by a decrease in the cost of interest-bearing deposits, which when coupled with growth in interest earning assets led to an overall increase in net interest income.

Interest earned on earning assets does not include any interest income which would have been recognized on non-accrual loans if such loans were performing. The amount of interest not recognized on non-accrual loans totaled $291,000 in 2015, $39,000 in 2014 and $296,000 in 2013. Total interest expense for 2015 was $8,608,000, a decrease of $1,160,000, or 11.88%, compared to total interest expense of $9,768,000 in 2014. The decrease in 2015 was primarily due to a decrease in the rates paid on deposits, particularly time deposits, reflecting the low interest rate environment and a continued shift in the mix of deposits from certificates of deposits and individual retirement accounts to transaction and money market accounts. Total interest expense decreased from $10,879,000 in 2013 to $9,768,000 in 2014, a decrease of $1,111,000, or 10.21%, reflecting similar shifts in deposit mix and reductions in rates paid as experienced in 2015.

Net interest income for 2015 totaled $70,231,000 as compared to $64,612,000 and $60,935,000 in 2014 and 2013, respectively. The net interest spread, defined as the effective yield on earning assets less the effective cost of deposits and borrowed funds (calculated on a fully taxable equivalent basis), increased to 3.70% in 2015 from 3.65% in 2014. The net interest spread was 3.62% in 2013. Net yield on earning assets for 2015 and 2014 was 3.80% and 3.75%, respectively, up from 3.74% in 2013. The increase in net yield on earning assets resulted from Wilson Bank’s ability to lower deposit costs. Changes in interest rates paid on products such as interest checking, savings, and money market accounts will generally increase or decrease in a manner that is consistent with changes in the short-term environment. The Company’s liabilities are positioned to re-price faster than its assets such that a short-term declining rate environment should have a positive impact on the Company’s earnings as its interest expense decreases faster than interest income. Conversely, a rising rate environment could have a short-term negative impact on margins as many of the Company’s loans have rate floors, thus deposits would likely re-price faster than loans. Management regularly monitors the deposit rates of the Company’s competitors and these rates continue to put pressure on the Company’s deposit pricing. This pressure could negatively impact the Company’s net interest margin and earnings if short-term rates begin to rise.

Provision for Loan Losses

The provision for loan losses represents a charge to earnings necessary to establish an allowance for loan losses that, in management’s evaluation, is adequate to provide coverage for estimated losses on outstanding loans and to provide for uncertainties in the economy. The 2015 provision for loan losses was $388,000, a decrease of $110,000 from the provision of $498,000 in 2014, which was $1,679,000 less than the provision in 2013. The decrease in the provision for the year ended December 31, 2015 reflects the improving asset quality trends experienced by Wilson Bank in 2015 and an overall decrease in net charge-offs. Management continues to fund the allowance for loan losses through provisions based on management’s calculation of the allowance for loan losses. Current year provisions for loan losses are primarily attributable to loan growth, which was 8.4% in 2015. The provision for loan losses is based on past loan experience and other factors which, in management’s judgment, deserve current recognition in estimating loan losses. Such factors include growth and composition of the loan portfolio, review of specific problem loans, past due and nonperforming loans, change in lending staff, the recommendations of the Company’s regulators, and current economic conditions that may affect the borrowers’ ability to repay.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Wilson Bank’s charge-off policy for impaired loans is similar to its charge-off policy for all loans in that loans are charged-off in the month when they are considered uncollectible. Net charge-offs decreased to $60,000 in 2015 from $861,000 in 2014. Net charge-offs in 2013 totaled $4,739,000. The decrease in net charge-offs reflected an overall improvement of asset quality trends experienced by Wilson Bank. The ratio of net charge-offs to average total outstanding loans was 0.004% in 2015, 0.07% in 2014 and 0.39% in 2013.

The increase in loan growth, partially offset by the decrease in net charge-offs and provision for loan losses resulted in an increase of the allowance for loan losses (net of charge-offs and recoveries) to $22,900,000 at December 31, 2015 from $22,572,000 at December 31, 2014 and $22,935,000 at December 31, 2013. The allowance for loan losses increased 1.45% between December 31, 2014 and December 31, 2015 as compared to the 8.40% increase in total loans over the same period. The allowance for loan losses was 1.56% of total loans outstanding at December 31, 2015 compared to 1.67% at December 31, 2014 and 1.90% at December 31, 2013. As a percentage of nonperforming loans at December 31, 2015, 2014 and 2013, the allowance for loan losses represented 333%, 1,046% and 297%, respectively. The internally classified loans as a percentage of the allowance for loan losses were 110.1% and 158.6%, respectively, at December 31, 2015 and 2014.

The level of the allowance and the amount of the provision involve evaluation of uncertainties and matters of judgment. The Company maintains an allowance for loan losses which management believes is adequate to absorb losses inherent in the loan portfolio. A formal review is prepared quarterly by the Chief Financial Officer and provided to the Board of Directors to assess the risk in the portfolio and to determine the adequacy of the allowance for loan losses. The review includes analysis of historical performance, the level of non-performing and adversely rated loans, specific analysis of certain problem loans, loan activity since the previous assessment, reports prepared by the Loan Review Department, consideration of current economic conditions and other pertinent information. The level of the allowance to net loans outstanding will vary depending on the overall results of this quarterly assessment. See the discussion under “Critical Accounting Estimates” for more information. Management believes the allowance for loan losses at December 31, 2015 to be adequate, but if economic conditions deteriorate beyond management’s current expectations and additional charge-offs are incurred, the allowance for loan losses may require an increase through additional provision for loan losses which would negatively impact earnings.

Non-Interest Income

The components of the Company’s non-interest income include service charges on deposit accounts, other fees and commissions, fees and gains on sales of loans, gains on sales of securities, bank-owned life insurance (BOLI) and annuity earnings and other income. Total non-interest income for 2015 was $19,941,000, compared with $16,678,000 in 2014 and $15,204,000 in 2013. The 19.56% increase from 2014 was primarily due to an increase in service charges on deposit, an increase in other fees and commissions, an increase in income earned on BOLI and annuity contracts, and increase in fees and gains on sales of loans offset in part by a decrease in security gains. Other fees and commissions increased $802,000 in 2015 when compared to 2014. Other fees and commissions include income on brokerage accounts, debit card interchange fee income, and various other fees. Fees and gains on sales of loans increased $1,268,000 in 2015 when compared to 2014. The increase in fees and gain on sales of loans during 2015 related primarily to the increase in consumer demand for residential mortgages and the continued improvement in the real estate market in Wilson Bank's lending areas. The service charges on deposit accounts increased $774,000, or 17.70%, to $5,148,000 for the year ended December 31, 2015 compared to the year ended December 31, 2014 as a result of a new overdraft privilege program implemented in the third quarter of 2014 and an increase in consumer checking accounts. Income earned on bank-owned life insurance increased $501,000, or 133.24%, to $877,000 during the year ended December 31, 2015 compared to the same period in 2014, resulting from the $8.5 million purchase of additional bank-owned life insurance in 2015. Gain on the sale of other real estate increased $285,000 for the year ended December 31, 2015 as compared to December 31, 2014 due to a lower volume of foreclosures and write-downs as well as improved economic conditions and an improved housing market.

The Company’s non-interest income is composed of several components, some of which vary significantly between periods. Service charges on deposit accounts and other non-interest income generally reflect the Company’s growth, while fees for origination of mortgage loans and brokerage fees and commissions will often reflect stock and home mortgage market conditions and fluctuate more widely from period to period.

Non-Interest Expenses

Non-interest expenses consist primarily of employee costs, FDIC premiums, occupancy expenses, furniture and equipment expenses, advertising and marketing expenses, data processing expenses, directors’ fees, expenses associated with the maintenance, valuation and disposition of other real estate, and other operating expenses. Total non-interest expenses for 2015 increased 9.34%

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

to $52,159,000 from $47,705,000 in 2014. Non-interest expenses for 2014 were down 2.2% over non-interest expenses in 2013 which totaled $48,787,000. The increase in non-interest expenses in 2015 is primarily attributable to an increase in salaries and employee bonuses associated with a special mid-year bonus that was paid to all employees in the second quarter of 2015 and an increase in the annual bonus paid at the end of 2015 when compared to 2014 due to Wilson Bank meeting overall performance goals. Salaries also increased in 2015 when compared to 2014 because the number of employees continued to increase in order to support the Company's growing operations. The increase in salaries was offset in part by a settlement of a claim during the second quarter of 2015 resulting in a $1,325,000 reversal of an accrual for potential litigation losses.

Income Taxes

The Company’s income tax expense was $13,762,000 for 2015, an increase of $1,452,000 from $12,310,000 for 2014, which was up by $3,004,000 from the 2013 total of $9,306,000. The percentage of income tax expense to earnings before taxes was 36.6% in 2015, 37.2% in 2014 and 37.0% in 2013.

Our income tax expense, deferred tax assets and liabilities and reserves for unrecognized tax benefits reflect management’s best assessment of estimated future taxes to be paid. We are subject to income taxes at both the federal and state level. Significant judgments and estimates are required in determining the consolidated income tax expense.

Deferred income taxes arise from temporary differences between the tax and financial statement recognition of revenue and expense. In evaluating our ability to recover our deferred tax assets we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, we begin with historical results adjusted for changes in accounting policies and incorporate assumptions including the amount of future state and federal pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates we are using to manage the underlying businesses. In evaluating the objective evidence that historical results provide, we consider three years of cumulative operating income. Changes in current tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. Management is not aware of any such changes that would have a material effect on the Company’s results of operations, cash flows or financial position.

Financial Accounting Standards Board (“FASB”) ASC Topic 740, Income Taxes (“ASC 740”) provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. ASC Topic 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

We recognize tax liabilities in accordance with ASC Topic 740 and we adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which they are determined.

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 components comprising basic and diluted earnings per share (“EPS”) for the years ended December 31, 2015, 2014 and 2013:

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	Years Ended December 31, 2015
	2015		2014		2013
	(Dollars in Thousands except per share amounts)
Basic EPS Computation
Numerator – Earnings available to common stockholders	$	23,863	$	20,777	$	15,869
Denominator – Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Basic earnings per common share	$	3.13	$	2.75	$	2.12
Diluted EPS Computation:
Numerator – Earnings available to common stockholders	$	23,863	$	20,777	$	15,869
Denominator – Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Dilutive effect of stock options	3,527		4,393		4,798
	7,627,635		7,551,480		7,477,171
Diluted earnings per common share	$	3.13	$	2.75	$	2.12

Financial Condition

Balance Sheet Summary

The Company’s total assets increased by $148,362,000, or 7.92%, to $2,021,604,000 at December 31, 2015, after increasing 7.11% in 2014 to $1,873,242,000 at December 31, 2014. Loans, net of allowance for loan losses, totaled $1,443,179,000 at December 31, 2015, a 8.52% increase compared to December 31, 2014. The increase in loans resulted from an overall increase in loan demand in the housing market, as well as other sectors in which we lend money, along with an increase in marketing efforts that concentrated on increasing the volume of loans. At year end 2015, securities totaled $359,323,000, a decrease of 4.06% from $374,543,000 at December 31, 2014, primarily as a result of management's decision to reinvest liquid funds in higher yielding assets. As a result of a decrease in securities and the continued growth of deposits, fed funds sold increased $19,215,000, or 120.06% to $35,220,000 at December 31, 2015.

Total liabilities increased by $125,816,000, or 7.52%, to $1,798,166,000 at December 31, 2015 compared to $1,672,350,000 at December 31, 2014. This increase was composed primarily of the $129,580,000 increase in total deposits to $1,789,850,000, a 7.80% increase from December 31, 2014. Securities sold under repurchase agreements decreased to $2,035,000 from $3,437,000 at the respective year ends 2015 and 2014.

Stockholders’ equity increased $22,546,000, or 11.22%, in 2015, due to net earnings and the issuance of stock pursuant to the Company’s Dividend Reinvestment Plan, offset by dividends paid on the Company’s common stock and changes in unrealized losses on available-for-sale securities. The change in stockholders’ equity includes a $172,000 increase in net unrealized losses on available-for-sale securities, net of taxes during the period. A more detailed discussion of assets, liabilities and capital follows.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Loans:

Loan category amounts and the percentage of loans in each category to total loans are as follows:

	December 31, 2015				December 31, 2014
	(Dollar Amounts in Thousands)				(Dollar Amounts in Thousands)
	AMOUNT		PERCENTAGE		AMOUNT		PERCENTAGE
Commercial, financial and agricultural	41,339		2.8	%	$	42,200	3.1	%
Installment and other	43,467		3.0		41,025		3.0
Real estate – mortgage	1,110,989		75.5		1,027,723		75.8
Real estate – construction	275,319		18.7		245,830		18.1
TOTAL	$	1,471,114	100.0	%	$	1,356,778	100.0	%

Loans are the largest component of the Company’s assets and are its primary source of income. The Company’s loan portfolio, net of allowance for loan losses, increased 8.52% at year end 2015 when compared to year end 2014. The loan portfolio is composed of four primary loan categories: commercial, financial and agricultural; installment and other; real estate-mortgage; and real estate-construction. The table above sets forth the loan categories and the percentage of such loans in the portfolio as of December 31, 2015 and 2014.

As represented in the table, primary loan growth for the year ended December 31, 2015 was in real estate mortgage loans, installment loans, and construction loans, offset by a slight decrease in commercial, financial, and agricultural loans. Real estate mortgage loans increased 8.10% in 2015 and comprised 75.52% of the total loan portfolio at December 31, 2015, compared to 75.8% at December 31, 2014. Management believes the increase in real estate mortgage loans was primarily due to the continued favorable interest rate environment, favorable population growth in the Company’s market areas, and the Company’s ability to increase its market share of such loans while maintaining its loan underwriting standards. Installment loans increased 5.95% in 2015 and comprised 3.0% of the total loan portfolio at December 31, 2015 and at December 31, 2014. Real estate construction loans increased 12.00% in 2015 and comprised 18.7% of the portfolio at December 31, 2015, compared to 18.1% at December 31, 2014. The increase in real estate construction loans during 2015 reflected the overall increase in demand for such loans in the overall economy and the Company’s market.

Banking regulators define highly leveraged transactions to include leveraged buy-outs, acquisition loans and recapitalization loans of an existing business. Under the regulatory definition, at December 31, 2015, the Company had no highly leveraged transactions, and there were no foreign loans outstanding during any of the reporting periods. As of December 31, 2015, the Company had not unwritten any loans in connection with capital leases.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

The following tables present the Company’s nonaccrual loans and past due loans as of December 31, 2015 and December 31, 2014.

Loans on Nonaccrual Status	In Thousands
	2015		2014
Residential 1-4 family	$	41	42
Multifamily	—		—
Commercial real estate	4,293		—
Construction	—		—
Farmland	575		574
Second mortgages	—		—
Equity lines of credit	—		—
Commercial	—		—
Agricultural, installment and other	—		—
Total	$	4,909	616

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	(In thousands)
	30-59 Days Past Due		60-89 Days Past Due	Nonaccrual and Greater than 90 Days Past Due	Past Due	Current	Loans	Loans Greater Than 90 Days Past Due and Than 90 Days Accruing Interest
December 31, 2015
Residential 1-4 family	$	3,272	1,198	1,412	5,882	343,749	349,631	1,371
Multifamily	—		—	—	—	49,564	49,564	—
Commercial real estate	172		—	4,293	4,465	621,158	625,623	—
Construction	958		230	—	1,188	274,131	275,319	—
Farmland	88		21	886	995	31,119	32,114	311
Second mortgages	87		—	4	91	7,460	7,551	4
Equity lines of credit	283		89	197	569	45,937	46,506	197
Commercial	2		—	39	41	30,496	30,537	39
Agricultural, installment and other	382		114	56	552	53,717	54,269	56
Total	5,244		1,652	6,887	13,783	1,457,331	1,471,114	1,978
December 31, 2014
Residential 1-4 family	6,166		1,275	1,352	8,793	341,965	350,758	1,310
Multifamily	—		—	—	—	31,242	31,242	—
Commercial real estate	2,151		242	19	2,412	562,553	564,965	19
Construction	125		91	73	289	245,541	245,830	73
Farmland	88		—	594	682	29,554	30,236	20
Second Mortgages	286		18	70	374	8,652	9,026	70
Equity Lines of Credit	346		—	5	351	41,145	41,496	5
Commercial	37		—	—	37	29,963	30,000	—
Agricultural, installment and other	301		126	44	471	52,754	53,225	44
Total	9,500		1,752	2,157	13,409	1,343,369	1,356,778	1,541

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Non-performing loans, which include nonaccrual loans and loans 90 days past due, totaled $6,887,000 at December 31, 2015, an increase from $2,157,000 at December 31, 2014, resulting from a $4,293,000, or 696.91%, increase in nonaccrual loans and a $437,000, or 28.35%, increase in 90 day past due and accruing loans. The increase in non-performing loans during the year ended December 31, 2015 of $4,730,000 was due primarily to an increase in non-performing commercial real estate mortgage loans of $4,274,000, an increase of non-performing residential 1-4 family real estate loans of $60,000, and an increase of non-performing farmland loans of $292,000. The increase in non-performing commercial real estate mortgage loans resulted primarily from one large commercial real estate loan changing to nonaccrual status. Nonaccrual loans are loans on which interest is no longer accrued because management believes collection of such interest is doubtful due to management’s evaluation of the borrower’s financial condition, collateral liquidation value, economic and business conditions and other factors affecting the borrower’s ability to pay. Nonaccrual loans totaled $4,909,000 at December 31, 2015, compared to $616,000 at December 31, 2014. The increase in nonaccrual loans relates primarily to an increase in nonaccrual commercial real estate mortgage loans of $4,293,000 reflected in the above-described increase in non-performing loans within that category that resulted primarily from one large commercial real estate loan changing to nonaccrual status. Management believes that it is probable that it will incur losses on these loans but believes that these losses should not exceed the amount in the allowance for loan losses already allocated to these loans, unless there is a deterioration of local real estate values.

At December 31, 2015, the Company had a total of three impaired loans totaling $4,868,000 (including the above-described large commercial real estate mortgage loan on nonacrrual status) which were on non accruing interest status. At December 31, 2014, the Company had impaired loans of $574,000 which were on non accruing interest status. In each case, at the date such loans were placed on nonaccrual status, the Company reversed all previously accrued interest income against current year earnings.

The following table presents the Company’s impaired loans at December 31, 2015 and December 31, 2014.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With no related allowance recorded:
Residential 1-4 family	$	633	622	—	724	39
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	5,048	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	431	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment, and other	—		—	—	—	—
	$	7,796	7,778	—	6,689	160
With allowance recorded:
Residential 1-4 family	$	834	827	194	785	47
Multifamily	—		—	—	—	—
Commercial real estate	—		—	—	3,419	—
Construction	—		—	—	—	—
Farmland	—		—	—	144	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment, and other	—		—	—	—	—
	$	834	827	194	4,348	47

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Total
Residential 1-4 family	$	1,467	1,449	194	1,509	86
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	8,467	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	575	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	8,630	8,605	194	11,037	207
December 31, 2014
With no related allowance recorded:
Residential 1-4 family	$	1,891	1,854	—	1,081	114
Multifamily	—		—	—	—	—
Commercial real estate	1,352		2,188	—	5,984	95
Construction	—		—	—	673	—
Farmland	—		—	—	—	—
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment, and other	—		—	—	—	—
	$	3,524	4,322	—	7,960	212
With allowance recorded:
Residential 1-4 family	$	1,219	1,207	376	1,363	61
Multifamily	—		—	—	—	—
Commercial real estate	5,131		6,811	1,135	5,755	202
Construction	—		—	—	1,815	—
Farmland	702		701	120	767	7
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment, and other	—		—	—	—	—
	$	7,052	8,719	1,631	9,700	270
Total
Residential 1-4 family	$	3,110	3,061	376	2,444	175
Multifamily	—		—	—	—	—
Commercial real estate	6,483		8,999	1,135	11,739	297
Construction	—		—	—	2,488	—
Farmland	702		701	120	767	7
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	10,576	13,041	1,631	17,660	482

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

A loan is considered impaired, in accordance with the impairment accounting guidance FASB ASC 310, when the current net worth and financial capacity of the borrower or of the collateral pledged, if any, is viewed as inadequate and it is probable that the Company will be unable to collect the scheduled payments of principal and interest due under the contractual terms of the loan agreement. In those cases, such loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt, and if such deficiencies are not corrected, there is a probability that the Company will sustain some loss. In such cases, interest income continues to accrue as long as the loan does not meet the Company’s criteria for nonaccrual status. Impaired loans are measured at the present value of expected future cash flows discounted at the loan’s effective interest rate, at the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the measure of the impaired loan is less than the recorded investment in the loan, the Company shall recognize 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.

The Company considers all loans subject to the provisions of FASB ASC 310 that are on nonaccrual status to be impaired. Loans are placed on nonaccrual status when doubt as to timely collection of principal or interest exists, or when principal or interest is past due 90 days or more unless such loans are well-secured and in the process of collection. Delays or shortfalls in loan payments are evaluated with various other factors to determine if a loan is impaired. Generally, delinquencies under 90 days are considered insignificant unless certain other factors are present which indicate impairment is probable. The decision to place a loan on nonaccrual status is also based on an evaluation of the borrower’s financial condition, collateral liquidation value, and other factors that affect the borrower’s ability to pay.

The Company also internally classifies loans which, although current, management questions the borrower’s ability to comply with the present repayment terms of the loan agreement. These internally classified loans totaled $25,217,000, inclusive of the Company’s non-performing loans, at December 31, 2015, as compared to $35,808,000 at December 31, 2014. Of the internally classified loans at December 31, 2015, $25,090,000 are real estate related loans (including loans to home builders and developers of land, commercial real estate, as well as multi family mortgage loans) and $127,000 are various other types of loans. These loans have been graded accordingly considering bankruptcies, inadequate cash flows and delinquencies. Management does not anticipate losses on these loans to exceed the amount already allocated to loan losses for these loans, unless there is a deterioration of local real estate values.

The internally classified loans as a percentage of the allowance for loan losses were 110.11% and 158.64%, respectively, at December 31, 2015 and 2014.

The Company’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring (TDR), where economic 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 reduction in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Certain TDR’s 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. Because of Wilson Bank’s policy to consider a TDR as nonperforming until there has been at least six months of repayment performance, the addition of one large TDR in the last half of 2015 caused the nonperforming TDRs as of December 31, 2015 to increase $529,000 over the same period in 2014; however, overall TDR relationships decreased. Total TDRs decreased $3.9 million from December 31, 2014 to December 31, 2015 due to the payoff of two large loan relationships that were classified as TDRs.

The allowance for loan losses is discussed under “Critical Accounting Estimates” and “Provision for Loan Losses.” The Company maintains its allowance for loan losses at an amount believed by management to be adequate to provide for loan losses in the loan portfolio.

Substantially all of the Company’s loans are from Wilson, DeKalb, Smith, Putnam, Trousdale, Davidson, Rutherford and adjacent counties. Although the majority of the Company's loans are in the real estate market, the Company seeks to exercise prudent risk management in lending through the diversification by loan category within the real estate segment, including 1-4 family residential real estate, commercial real estate, multifamily, construction, second mortgages, farmland, and equity lines of credit. At December 31, 2015, no single industry segment accounted for more than 10% of the Company’s portfolio other than construction and real estate loans.

The Company’s management believes there is an opportunity to increase the loan portfolio in the Company’s primary market area in 2016 as economic conditions continue to improve. The Company will target commercial business lending, commercial and residential real estate lending and consumer lending as areas of emphasis in 2016. Although it is the Company’s objective to achieve

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

a loan portfolio equal to approximately 85% of deposit balances, various factors, including demand for loans which meet its underwriting standards, will likely determine the size of the loan portfolio in a given economic climate. At December 31, 2015, the Company’s total loans equaled 81.9% of its total deposits. As a practice, the Company generates its own loans and does not buy participations from other institutions. The Company may sell portions of the loans it generates to other financial institutions for cash in order to improve the liquidity of the Company’s loan portfolio or extend its lending capacity.

Securities

Securities decreased 4.06% to $359,323,000 at December 31, 2015 from $374,543,000 at December 31, 2014, and comprised the second largest and other primary component of the Company’s earning assets. Securities decreased as the result of management’s decision to reinvest liquid funds in higher yielding assets. The average yield, excluding tax equivalent adjustment, of the securities portfolio at December 31, 2015 was 2.16% with a weighted average life of 5.25 years, as compared to an average yield of 2.06% and a weighted average life of 5.25 years at December 31, 2014. The weighted average lives on mortgage-backed securities reflect the repayment rate used for book value calculations.

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, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. 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.

For debt securities, when the Company has decided to sell an impaired available-for-sale security and it does not expect the fair value of the security to fully recover before the expected time of sale, the security is deemed other-than-temporarily impaired in the period in which the decision to sell is made. The Company recognizes an impairment loss through a charge to current period earnings when the impairment is deemed other than temporary even if a decision to sell has not been made.

No securities have been classified as trading securities.

The Company’s classification of securities as of December 31, 2015 and December 31, 2014 is as follows:

	December 31, 2015				December 31, 2015
(In Thousands)	Held-To-Maturity				Available-For-Sale
	Amotized Cost		Estimated Market Value		Amortized Cost		Estimated Market Value
U.S. Government-sponsored enterprises (GSEs)*	$	—	$	—	$	77,177	$	76,909
Mortgage-backed :
GSEs residential	9,375		9,266		192,983		191,915
Asset-backed:
SBAP	—		—		31,253		31,034
Obligations of state and political
subdivision	18,820		19,099		31,093		31,270
	$	28,195	$	28,365	$	332,506	$	331,128

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks, and Government National Mortgage Association

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	December 31, 2014				December 31, 2014
(In Thousands)	Held-To-Maturity				Available-For-Sale
	Amortized Cost		Estimated Market Value		Amortized Cost		Estimated Market Value
U.S. Government-sponsored enterprises (GSEs)*	$	—	$	—	$	131,767	$	130,567
Mortgage-backed:
GSE residential	7,398		7,327		170,802		171,069
Asset-backed:
SBAP	—		—		30,627		30,520
Obligations of state and political
Subdivision	20,725		21,073		14,324		14,264
	$	28,123	$	28,400	$	347,520	$	346,420

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks, and Government National Mortgage Association

The classification of a portion of the securities portfolio as available-for-sale was made to provide for more flexibility in asset/liability management and capital management.

The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2015:

	In Thousands, Except Number of Securities
	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses
Held to Maturity Securities:
Mortgage-backed:
GSE residential	$	4,339	$	45	3	$	2,717	$	124	3	$	7,056	$	169
Obligations of states and political subdivisions	3,461		9		10	—		—		—	3,461		9
	$	7,800	$	54	13	$	2,717	$	124	3	$	10,517	$	178
Available for Sale Securities:
GSEs	$	33,369	$	232	12	$	17,829	$	251	6	$	51,198	$	483
Mortgage-backed:
GSE residential	142,251		1,407		66	4,521		91		7	146,772		1,498
Asset-backed:
SBAP	22,811		273		12	—		—		—	22,811		273
Obligations of states and political subdivisions	7,925		60		18	3,350		37		9	11,275		97
	$	206,356	$	1,972	108	$	25,700	$	379	22	$	232,056	$	2,351

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

The impaired securities are considered high quality investments in line with normal industry investing practices. The unrealized losses are primarily the result of changes in the interest rate and sector environments. Impaired securities are assessed quarterly for the presence of other-than-temporary impairment (“OTTI”). A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in a reduction in the carrying amount of the security. To determine whether OTTI has occurred, management considers factors such as (1) length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospects of the issuer, and (3) the Company’s ability and intent to hold the security for a period sufficient to allow for an anticipated recovery in fair value. If management deems a security to be OTTI, management reviews the present value of the future cash flows associated with the security. A shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is referred to as a credit loss. If a credit loss is identified, the credit loss is recognized as a charge to earnings and a new cost basis for the security is established. If management concludes that no credit loss exists and it is not more-likely-than-not that it will be required to sell the security before the recovery of the security’s cost basis, then the security is not deemed OTTI and the shortfall is recorded as a component of equity.

Deposits

The increases in assets in 2015 and 2014 were funded primarily by increases in deposits and the Company’s earnings. Total deposits, which are the principal source of funds for the Company, totaled $1,789,850,000 at December 31, 2015 compared to $1,660,270,000 at December 31, 2014. The Company has targeted local consumers, professionals and small businesses as its central clientele; therefore, deposit instruments in the form of demand deposits, savings accounts, money market demand accounts, certificates of deposits and individual retirement accounts are offered to customers. Management believes the Wilson County, Davidson County, DeKalb County, Putnam County, Smith County, Sumner County, Rutherford County and Trousdale County areas are attractive economic markets offering growth opportunities for the Company; however, the Company competes with several larger banks and community banks that have bank offices in these counties which may negatively impact market growth or maintenance of current market share. Even though the Company is in a very competitive market, management currently believes that its market share can be maintained or expanded.

The $129,580,000, or 7.80%, growth in deposits in 2015 was due to a $70,000,000, or 18.62%, increase in NOW accounts, a $44,346,000, or 9.25%, increase in money market accounts, a $41,341,000, or 26.55%, increase in demand deposit accounts and a $5,397,000, or 5.27%, increase in savings accounts, offset in part by a decrease in certificates of deposits (including individual retirement accounts) of $31,504,000, or 5.76%. The average rate paid on average total interest-bearing deposits was 0.56% for 2015, compared to 0.67% for 2014, reflecting a reduction in short-term interest rates and a shift in deposits to lower paying transaction and money market accounts from certificates of deposit. The average rate paid in 2013 was 0.78%. Competitive pressure from other banks in our market area relating to deposit pricing continues to adversely affect the rates paid on deposit accounts as it limits our ability to more fully reduce deposit rates in line with short-term rates. The ratio of average loans to average deposits was 82.7% in 2015, 78.7% in 2014, and 79.8% in 2013. The Company anticipates that during 2016 deposits will continue to shift to money market or savings accounts due to the current rate environment notwithstanding the slight rate increase initiated by the Federal Reserve in late 2015 that we contemplate may continue in 2016.

Contractual Obligations

The Company’s contractual obligations at December 31, 2015 are as follows:

(In Thousands)	Less than 1 Year		1 –3 Years		3-5 Years		More than 5 Years		Total
Long-Term Debt	$	—	$	—	$	—	$	—	$	—
Operating Leases	141		127		109		—		377
Purchases	—		—		—		—		—
Other Long-Term
liabilities	—		—		—		—		—
Total	$	141	$	127	$	109	$	—	$	377

Long-term debt contractual obligations would typically include advances from the Federal Home Loan Bank, but at December 31, 2015, the Company had no such advances. The Company leases land for certain branch facilities and automatic teller machine

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

locations. Future minimum rental payments required under the terms of these non-cancellable leases are included in operating lease obligations.

Off Balance Sheet Arrangements

At December 31, 2015, the Company had unfunded loan commitments outstanding of $332 million, unfunded lines of credit of $60 million and outstanding standby letters of credit of $37 million. Because these commitments generally have fixed expiration dates and many will expire without being drawn upon, the total commitment level does not necessarily represent future cash requirements. If needed to fund these outstanding commitments, the Company’s bank subsidiary has the ability to liquidate Federal funds sold or securities available-for-sale or on a short-term basis to borrow and purchase Federal funds from other financial institutions. Additionally, the Company’s bank subsidiary could sell participations in these or other loans to correspondent banks. As mentioned below, Wilson Bank has been able to fund its ongoing liquidity needs through its stable core deposit base, loan payments, its investment security maturities, and short-term borrowings.

Liquidity and Asset Management

The Company’s management seeks to maximize net interest income by managing the Company’s assets and liabilities within appropriate constraints on capital, liquidity and interest rate risk. Liquidity is the ability to maintain sufficient cash levels necessary to fund operations, meet the requirements of depositors and borrowers and fund attractive investment opportunities. Higher levels of liquidity bear corresponding costs, measured in terms of lower yields on short-term, more liquid earning assets and higher interest expense involved in extending liability maturities. Liquid assets include cash and cash equivalents, investment securities and money market instruments that will mature within one year. At December 31, 2015, the Company’s liquid assets totaled approximately $278 million.

The Company maintains a formal asset and liability management process to quantify, monitor and control interest rate risk, and to assist management in maintaining stability in the net interest margin under varying interest rate environments. The Company accomplishes this process through the development and implementation of lending, funding and pricing strategies designed to maximize net interest income under varying interest rate environments subject to specific liquidity and interest rate risk guidelines.

Analysis of rate sensitivity and rate gap analysis are the primary tools used to assess the direction and magnitude of changes in net interest income resulting from changes in interest rates. Included in the analysis are cash flows and maturities of financial instruments held for purposes other than trading, changes in market conditions, loan volumes and pricing and deposit volume and mix. These assumptions are inherently uncertain, and, as a result, net interest income can not be precisely estimated nor can the impact of higher or lower interest rates on net interest income be precisely predicted. Actual results will differ due to timing, magnitude and frequency of interest rate changes and changes in market conditions and management’s strategies, among other factors.

The Company’s primary source of liquidity is a stable core deposit base. In addition, short-term borrowings, loan payments and investment security maturities provide a secondary source. At December 31, 2015, the Company had a liability sensitive position (a negative gap). Liability sensitivity means that more of the Company’s liabilities are capable of re-pricing over certain time frames than its assets. The interest rates associated with these liabilities may not actually change over this period but are capable of changing.

Interest rate risk (sensitivity) management focuses on the earnings risk associated with changing interest rates. Management seeks to maintain profitability in both immediate and long term earnings through funds management/interest rate risk management. The Company’s rate sensitivity position has an important impact on earnings. Senior management of the Company meets quarterly to analyze its rate sensitivity position. These meetings focus on the spread between the Company’s cost of funds and interest yields generated primarily through loans and investments.

The Company’s securities portfolio consists of earning assets that provide interest income. For those securities classified as held-to-maturity, the Company has the ability and intent to hold these securities to maturity or on a long-term basis. Securities classified as available-for-sale include securities intended to be used as part of the Company’s asset/liability strategy and/or securities that may be sold in response to changes in interest rates, prepayment risk, the need or desire to increase capital and similar economic factors. At December 31, 2015, securities totaling approximately $20.9 million mature or will be subject to rate adjustments within the next twelve months.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

A secondary source of liquidity is the Company’s loan portfolio. At December 31, 2015, loans totaling approximately $538 million either will become due or will be subject to rate adjustments within twelve months from that date. Continued emphasis will be placed on structuring adjustable rate loans.

As for liabilities, certificates of deposit and individual retirement accounts of $100,000 or greater totaling approximately $101 million will become due or reprice during the next twelve months. Historically, there has been no significant reduction in immediately withdrawable accounts such as negotiable order of withdrawal accounts, money market demand accounts, demand deposit accounts and regular savings accounts. Management anticipates that there will be no significant withdrawals from these accounts in 2016.

The following table shows the rate sensitivity gaps for different time periods as of December 31, 2015:

Interest Rate Sensitivity Gaps

(In Thousands)	1-90 Days			91-180 Days		181-365 Days		One Year And Longer		Total
Interest-earning assets	$	271,867		129,922		205,610		1,266,370		1,873,769
Interest-bearing liabilities	(1,174,308		)	(61,496	)	(76,111	)	(282,908	)	(1,594,823	)
Interest-rate sensitivity gap	$	(902,441	)	68,426		129,499		983,462		278,946
Cumulative gap	$	(902,441	)	(834,015	)	(704,516	)	278,946

The Company also uses simulation modeling to evaluate both the level of interest rate sensitivity as well as potential balance sheet strategies. The Asset Liability Committee meets quarterly to analyze the interest rate shock simulation. The interest rate simulation model is based on a number of assumptions. The assumptions relate primarily to loan and deposit growth, asset and liability prepayments, the call features of investment securities, interest rates and balance sheet management strategies. The Company also uses Economic Value of Equity (“EVE”) sensitivity analysis to understand the impact of changes in interest rates on long-term cash flows, income and capital. EVE is calculated by discounting the cash flows for all balance sheet instruments under different interest rate scenarios. Presented below is the estimated impact on Wilson Bank’s net interest income and EVE as of December 31, 2015, assuming an immediate shift in interest rates:

	% Change from Base Case for Immediate Parallel Changes in Rates
	-100 BP(1)		+100 BP		+200 BP
Net interest income	(2.42	)%	(2.7	)%	(5.73	)%
EVE	(7.92	)%	(0.15	)%	(1.16	)%

(1) Because certain current interest rates are at or below 1.00%, the 100 basis points downward shock assumes that certain corresponding interest rates reflect a decrease of less than the full 100 basis point downward shock.

Management believes that with present maturities, the anticipated growth in deposit base, and the efforts of management in its asset/liability management program, liquidity will not pose a problem in the near term future. At the present time there are no other known trends or any known commitments, demands, events or uncertainties that will result in, or that are reasonably likely to result in, the Company’s liquidity changing in a materially adverse way.

Capital Resources, Capital Position and Dividends

At December 31, 2015, total stockholders’ equity was $223,438,000, or 11.05% of total assets, which compares with $200,892,000, or 10.72% of total assets, at December 31, 2014, and $177,671,000, or 10.15% of total assets, at December 31, 2013. The dollar increase in the Company’s stockholders’ equity during 2015 reflects (i) net income of $23,863,000 less cash dividends of $0.65 per share totaling $4,935,000, (ii) the issuance of 72,543 shares of common stock for $3,511,000, as reinvestment of cash dividends,

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

(iii) the issuance of 7,633 shares of common stock pursuant to exercise of stock options for $241,000, (iv) the net unrealized loss on available-for-sale securities of $172,000, and (v) a stock based compensation expense of $38,000.

The Company’s and Wilson Bank’s principal regulators have established minimum risk-based capital requirements and leverage capital requirements for the Company and Wilson Bank. These guidelines classify capital into two categories of Tier I and Total risk-based capital. Total risk-based capital consists of Tier I (or core) capital (essentially common equity less intangible assets) and Tier II capital (essentially qualifying long-term debt, of which Wilson Bank has none, and a part of the allowance for loan losses). In determining risk-based capital requirements, assets are assigned risk-weights of 0% to 100%, depending on regulatory assigned levels of credit risk associated with such assets. Under the Federal Reserve’s regulations, for a bank holding company, like the Company, to be considered “well capitalized” it must maintain a Total risk-based capital ratio of at least 10%, a Tier 1 risk-based capital ratio of at least 8% (up from 6% under previous rules), a common equity Tier 1 capital ratio of 6.5% and a Tier 1 leverage ratio of 5% and not be subject to a written agreement, order or directive to maintain a specific capital level. In addition, the Federal Reserve has established minimum leverage ratio guidelines for bank holding companies. These guidelines provide that a minimum ratio of Tier 1 capital to average assets, less goodwill and other specified intangible assets, of at least 4% should be maintained by most bank holding companies.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Wilson Bank to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1, and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). As of December 31, 2015 and December 31, 2014, the Company and the Bank are considered to be “well-capitalized” under regulatory definitions.

As of December 31, 2015, the most recent notification from the FDIC categorized Wilson Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized as of December 31, 2015 and December 31, 2014, an institution was required to maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk based and Tier 1 leverage ratios as set forth in the following tables and not be subject to a written agreement, order or directive to maintain a specific capital level. There are no conditions or events since the notification that management believes have changed Wilson Bank’s category. The Company’s and Wilson Bank’s actual capital amounts and ratios as of December 31, 2015 and 2014, are presented in the following table (dollar amounts in thousands):

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	Actual				Minimum Capital Requirements				Minimum To Be Well Capitalized Under Applicable Regulatory Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
December 31, 2015
Total capital to risk weighted assets:
Consolidated	$	240,848	14.1	%	$	136,588	8.0	%	$	170,736	10.0	%
Wilson Bank	238,963		14.0		136,575		8.0		170,719		10.0
Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		102,441		6.0		136,588		8.0
Wilson Bank	217,600		12.8		102,431		6.0		136,575		8.0
Common equity Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		76,831		4.5		110,978		6.5
Wilson Bank	217,600		12.8		76,823		4.5		110,967		6.5
Tier 1 capital to average assets:
Consolidated	219,483		11.1		79,361		4.0		N/A		N/A
Wilson Bank	217,600		11.0		79,354		4.0		99,192		5.0

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	Actual				Minimum Capital Requirements				Minimum To Be Well Capitalized Under Applicable Regulatory Provisions
December 31, 2014
Total capital to risk weighted assets:
Consolidated	$	214,779	15.0	%	$	114,549	8.0	%	$	143,186	10.0	%
Wilson Bank	213,447		14.9		114,602		8.0		143,253		10.0
Tier 1 capital to risk weighted assets:
Consolidated	196,765		13.7		57,450		4.0		86,174		6.0
Wilson Bank	195,433		13.6		57,480		4.0		86,220		6.0
Tier 1 capital to average assets:
Consolidated	196,765		10.6		74,251		4.0		N/A		N/A
Wilson Bank	195,433		10.5		74,451		4.0		93,063		5.0

In July 2013, the Federal banking regulators, in response to the Statutory Requirements of The Dodd-Frank Act, adopted new regulations implementing the Basel Capital Adequacy Accord (“Basel III”) and the related higher minimum capital ratios. The new capital requirements were effective beginning January 1, 2015 and include a new “Common Equity Tier I Ratio”, which has stricter rules as to what qualifies as Common Equity Tier I Capital. A summary of the changes to the Regulatory Capital Ratios are as follows:

	Guideline in Effect At December 31, 2014				Basel III Requirements Effective Beginning January 1, 2015
	Minimum		Well Capitalized		Minimum		Well Capitalized
Common Equity Tier I Ratio (Common Equity to Risk Weighted Assets)	Not Applicable		Not Applicable		4.5	%	6.5	%
Tier I Capital to Risk Weighted Assets	4	%	6	%	6	%	8	%
Total Capital to Risk Weighted Assets	8	%	10	%	8	%	10	%
Tier I Leverage Ratio	4	%	5	%	4	%	5	%

The guidelines under Basel III establish a 2.5% capital conservation buffer requirement that is phased in over four years beginning January 1, 2016. The buffer is related to Risk Weighted Assets. The Basel III minimum requirements after giving effect to the buffer are as follows:

	2016		2017		2018		2019
Common Equity Tier I Ratio	5.125	%	5.75	%	6.375	%	7.0	%
Tier I Capital to Risk Weighted Assets Ratio	6.625	%	7.25	%	7.875	%	8.5	%
Total Capital to Risk Weighted Assets Ratio	8.625	%	9.25	%	9.875	%	10.5	%

In order to avoid limitations on capital distributions such as dividends and certain discretionary bonus payments to executive officers, a banking organization must maintain capital ratios above the minimum ratios including the buffer.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

The requirements of Basel III also place more restrictions on the inclusion of deferred tax assets and capitalized mortgage servicing rights as a percentage of Tier I Capital. In addition, the risk weights assigned to certain assets such as past due loans and certain real estate loans have been increased.

The requirements of Basel III allowed banks and bank holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and Wilson Bank have opted out of this requirement.

The application of these more stringent capital requirements to the Company and Wilson Bank could, among other things, result in lower returns on invested capital, require the raising of additional capital, and result in regulatory actions if the Company and Wilson Bank were to be unable to comply with such requirements. Furthermore, the imposition of liquidity requirements in connection with the implementation of the final rules regarding Basel III could result in the Company or Wilson Bank having to lengthen the term of their funding, restructure their business models and/or increase their holdings of liquid assets. Implementation of changes to asset risk weightings for risk-based capital calculations, items included or deducted in calculating regulatory capital and/or additional capital conservation buffers could result in management modifying its business strategy and could limit the Company’s and Wilson Bank’s ability to make distributions, including paying dividends or buying back shares.

Quantitative and Qualitative Disclosures About Market Risk

The Company’s primary component of market risk is interest rate volatility. Fluctuations in interest rates will ultimately impact both the level of income and expense recorded on a large portion of the Company’s assets and liabilities, and the market value of all interest-earning assets and interest-bearing liabilities, other than those which possess a short term to maturity. Based upon the nature of the Company’s operations, the Company is not subject to foreign currency exchange or commodity price risk.

Interest rate risk (sensitivity) management focuses on the earnings risk associated with changing interest rates. Management seeks to maintain profitability in both short term and long term earnings through funds management/interest rate risk management. The Company’s rate sensitivity position has an important impact on earnings. Senior management of the Company meets quarterly to analyze the rate sensitivity position. These meetings focus on the spread between the cost of funds and interest yields generated primarily through loans and investments.

The following table provides information about the Company’s financial instruments that are sensitive to changes in interest rates as of December 31, 2015.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	(Dollars in Thousands)Expected Maturity Date—Year Ending December 31,
	2016			2017		2018		2019		2020		Thereafter		Total		Fair Value
Earning assets:
Loans, net of unearned interest:
Variable rate	$	35,172		11,782		40,214		18,488		20,042		844,730		970,428		970,428
Average interest rate	4.50		%	4.21	%	4.15	%	4.47	%	4.53	%	4.61	%	4.58	%
Fixed rate	$	229,037		55,358		52,788		36,883		30,669		95,951		500,686		501,245
Average interest rate	4.28		%	4.98	%	4.86	%	4.68	%	5.07	%	4.61	%	4.27	%
Securities	$	1,309		2,030		7,309		23,442		20,594		306,018		360,701		359,493
Average interest rate	2.89		%	2.48	%	1.32	%	1.69	%	1.89	%	2.07	%	2.03	%
Loans held for sale	$	9,823		—		—		—		—		—		9,823		10,135
Average interest rate	3.59		%	—		—		—		—		—		3.59	%
Federal funds sold	$	35,220		—		—		—		—		—		35,220		35,220
Average interest rate	0.20		%	—		—		—		—		—		0.20	%
Interest-bearing deposits	$	1,309,880		132,541		93,091		35,463		21,305		508		1,592,788		1,396,799
Average interest rate	0.38		%	1.12	%	1.14	%	1.52	%	1.57	%	2.00	%	0.53	%
Securities sold under repurchase agreements	$	2,035		—		—		—		—		—		2,035		2,035
Average interest rate	0.25		%	—		—		—		—		—		0.25	%

Impact of Inflation

Although interest rates are significantly affected by inflation, for the fiscal years ended December 31, 2015, 2014, and 2013, the inflation rate is believed to have had an immaterial impact on the Company’s results of operations.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

Disclosures About Fair Value of Financial Instruments

Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurements and Disclosures, 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 and 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 quoted 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 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.

Assets

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.

Impaired loans—A loan is considered to be impaired when it is probable the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may be established as a component of the allowance for loan losses or the expense is recognized as a charge-off. Impaired loans are classified within Level 3 of the 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. Substantially all of these amounts relate to lots, homes and development projects that are either completed or are in various stages of construction for which the Company believes it has adequate collateral. Upon foreclosure, 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

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

a charge-off through the allowance for loan 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 expense, as applicable. 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.

Other assets—Included in other assets are certain assets carried at fair value, including the cash surrender value of bank owned life insurance policies and annuity contracts. The Company uses financial information received from insurance carriers indicating the performance of the insurance policies and cash surrender values in determining the carrying value of life insurance. The Company reflects these assets within Level 3 of the valuation hierarchy due to the unobservable inputs included in the valuation of these items. The Company does not consider the fair values of these policies to be materially sensitive to changes in these unobservable inputs.

Mortgage loans held-for-sale—Mortgage loans held-for-sale are carried at their 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.

The following tables present the financial instruments carried at fair value as of December 31, 2015 and December 31, 2014, by caption on the consolidated balance sheet and by FASB ASC 820 valuation hierarchy (as described above) (in thousands):

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

	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, 2015
Investment securities available-for-sale:
U.S. Government sponsored enterprises	$	76,909	—	76,909	—
Mortgage-backed securities	191,915		—	191,915	—
Asset-backed securities	31,034		—	31,034	—
State and municipal securities	31,270		—	31,270	—
Total investment securities available-for-sale	$	331,128	—	331,128	—
Loans held for sale	10,135		—	10,135	—
Other assets	26,672		—	—	26,672
Total assets at fair value	$	367,935	—	341,263	26,672
December 31, 2014
Investment securities available-for-sale:
U.S. Government sponsored enterprises and agency-backed	$	130,567	—	130,567	—
Mortgage-backed securities	171,069		—	171,069	—
Asset-backed securities	30,520		—	30,520	—
State and municipal securities	14,264		—	14,264	—
Total investment securities available-for-sale	$	346,420	—	346,420	—
Loans held for sale	9,466		—	9,466	—
Other assets	17,331		—	—	17,331
Total assets at fair value	$	373,217	—	355,886	17,331

	Measured on a Non-recurring basis
	Total Carrying Value in the Consolidated Balance Sheet		Quoted Market Active Market (Level 1)	Models with Significant Observable Market Parameters (Level 2)	Models with Significant Unobservable Market Parameters (Level 3)
December 31, 2015
Other real estate owned	$	5,410	—	—	5,410
Impaired loans, net (¹)	8,436		—	—	8,436
Total	$	13,846	—	—	13,846
December 31, 2014
Other real estate owned	$	7,298	—	—	7,298
Impaired loans, net (¹)	8,945		—	—	8,945
Total	$	16,243	—	—	16,243

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

(1)    Amount is net of a valuation allowance of $194,000 at December 31, 2015 and $1,631,000 at December 31, 2014 as required by ASC 310, “Receivables.”

In the case of the bond 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, 2015, there were no transfers between Levels 1, 2 or 3.

The table below includes a roll forward of the balance sheet amounts for the year ended December 31, 2015 and December 31, 2014 (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 Twelve Months Ended December 31,
	2015			2014
	Other Assets		Other Liabilities	Other Assets		Other Liabilities
Fair value, January 1	$	17,331	—	$	11,390	—
Total realized gains included in income	877		—	376		—
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	—		—	—		—
Purchases, issuances and settlements, net	8,464		—	5,565		—
Transfers out of Level 3	—		—	—		—
Fair value, December 31	$	26,672	—	$	17,331	—
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	$	877	—	$	376	—

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, 2015 and December 31, 2014. 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.

Held-to-maturity securities—Estimated fair values for investment securities are based on quoted market prices where available. 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.

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, impaired loans and all other loans. The results are then adjusted to account for credit risk.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

For variable-rate loans that reprice frequently and have no significant change in credit risk, fair values approximate carrying values. Fair values for impaired 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.

Deposits and Securities sold under agreements to repurchase—The carrying amounts of demand deposits, savings deposits and securities sold under agreements to repurchase, approximate their fair values. Fair values for certificates of deposit are estimated using discounted cash flow models, using current market interest rates offered on certificates 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, 2015 and December 31, 2014. 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. For financial liabilities such as noninterest bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

(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, 2015
Financial assets:
Securities held-to-maturity	$	28,195	28,365	—	28,365	—
Loans, net	1,443,179		1,443,738	—	—	1,443,738
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,791,885		1,549,414	—	—	1,549,414
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—
December 31, 2014
Financial assets:
Securities held-to-maturity	$	28,123	28,400	—	28,400	—
Loans, net	1,329,865		1,346,569	—	—	1,346,569
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,663,707		1,530,607	—	—	1,530,607
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—

⁽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.

Impact of New Accounting Standards

In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” which provides disclosure guidance on amounts reclassified out of AOCI by component. The adoption of this ASU did not have any impact on the Company’s financial position or results of operations but has impacted our financial statement disclosure.

In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, to reduce the diversity in reporting when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of

WILSON BANK HOLDING COMPANY

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATIONS

a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. As of December 31, 2015,the Company had no loans that met the above stated criteria. The total amount of foreclosed residential real property amounted to $550,000 and $456,000 at December 31, 2015 and December 31, 2014, respectively.

Except as set forth above, there are currently no new accounting standards that have been issued that the Company expects will have a significant impact on the Company's financial position, results of operations or cash flows.

Holding Company & Stock Information

Wilson Bank Holding Company Directors and Executive Officers

Jerry Franklin, Chairman; Randall Clemons, President & CEO; Charles Bell; Jimmy Comer; Jerry Franklin; John Freeman; William Jordan; Harold Patton; James Anthony Patton; Jack Bell; Elmer Richerson, Executive Vice President.

Common Stock Market Information

The common stock of Wilson Bank Holding Company is not traded on an exchange nor is there a known active trading market. The number of stockholders of record at February 9, 2016 was 3,764. Based solely on information made available to the Company from limited numbers of buyers and sellers, the Company believes that the following table sets forth the quarterly range of sale prices for the Company’s stock during the years 2014 and 2015.

Stock Prices

2014	High		Low
First Quarter	$	46.25	$	45.75
Second Quarter	$	46.75	$	46.25
Third Quarter	$	47.25	$	46.75
Fourth Quarter	$	47.75	$	47.25
2015	High		Low
First Quarter	$	48.35	$	47.75
Second Quarter	$	48.95	$	48.35
Third Quarter	$	49.55	$	48.95
Fourth Quarter	$	50.15	$	49.55

On January 1, 2014, a $.30 per share cash dividend was declared and on July 1, 2014 a $.30 per share cash dividend was declared and paid to shareholders of record on those dates. On January 1, 2015, a $.30 per share cash dividend was declared and on July 1, 2015, a $.35 per share cash dividend was declared and paid to shareholders of record on those dates. Future dividends will be dependent upon the Company’s profitability, its capital needs, overall financial condition, economic and regulatory consideration.

Annual Meeting and Information Contacts

The Annual Meeting of Shareholders will be held in the Main Office of Wilson Bank Holding Company at 7:00 P.M., April 12, 2016 at 623 West Main Street, Lebanon, Tennessee.

For further information concerning Wilson Bank Holding Company or Wilson Bank & Trust, or to obtain a copy of the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission, which is available without charge to shareholders, please contact Lisa Pominski, CFO, Wilson Bank & Trust, P.O. Box 768, Lebanon, Tennessee 37088-0768, phone (615) 443-6612.

WILSON BANK HOLDING COMPANY FINANCIAL HIGHLIGHTS (UNAUDITED)

	In Thousands, Except Per Share Information
	As Of December 31,
	2015		2014	2013	2012	2011
CONSOLIDATED BALANCE SHEETS:
Total assets end of year	$	2,021,604	1,873,242	1,748,971	1,680,820	1,577,370
Loans, net	$	1,443,179	1,329,865	1,184,267	1,142,111	1,098,733
Securities	$	359,323	374,543	356,196	332,786	325,195
Deposits	$	1,789,850	1,660,270	1,554,255	1,493,922	1,406,042
Stockholders’ equity	$	223,438	200,892	177,671	169,698	157,348

	Years Ended December 31,
	2015			2014		2013		2012		2011
CONSOLIDATED STATEMENTS OF EARNINGS:
Interest income	$	78,839		74,380		71,814		72,361		72,350
Interest expense	8,608			9,768		10,879		14,107		17,890
Net interest income	70,231			64,612		60,935		58,254		54,460
Provision for loan losses	388			498		2,177		9,528		8,678
Net interest income after provision for loan losses	69,843			64,114		58,758		48,726		45,782
Non-interest income	19,941			16,678		15,204		16,035		14,476
Non-interest expense	52,159			47,705		48,787		45,098		43,663
Earnings before income taxes	37,625			33,087		25,175		19,663		16,595
Income taxes	13,762			12,310		9,306		7,515		6,545
Net earnings	$	23,863		20,777		15,869		12,148		10,050
Cash dividends declared	$	4,935		4,510		4,464		6,243		4,348
PER SHARE DATA:
Basic earnings per common share	$	3.13		2.75		2.12		1.65		1.38
Diluted earnings per common share	$	3.13		2.75		2.12		1.65		1.38
Cash dividends	$	0.65		0.60		0.60		0.85		0.60
Book value	$	29.20		26.53		23.69		22.87		21.54
RATIOS:
Return on average stockholders’ equity	11.17		%	10.95	%	9.20	%	7.49	%	6.77	%
Return on average assets	1.23		%	1.15	%	0.93	%	0.75	%	0.66	%
Capital to assets	11.05		%	10.72	%	10.16	%	10.10	%	9.98	%
Dividends declared per share as percentage of basic earnings per share	20.83		%	21.82	%	28.30	%	51.52	%	43.48	%

WILSON BANK HOLDING COMPANY

Consolidated Financial Statements

December 31, 2015 and 2014

(With Independent Auditor’s Report Thereon)

Stephen M. Maggart, CPA, ABV, CFF
J. Mark Allen, CPA
M. Todd Maggart, CPA, ABV, CFF
Michael F. Murphy, CPA
P. Jason Ricciardi, CPA, CGMA
David B. von Dohlen, CPA
T. Keith Wilson, CPA, CITP

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders of

Wilson Bank Holding Company:

We have audited the accompanying consolidated balance sheets of Wilson Bank Holding Company and Subsidiary as of December 31, 2015 and 2014, and the related consolidated statements of earnings, comprehensive earnings, changes in stockholders' equity and cash flows for each of the years in the three-year period ended December 31, 2015. We also have audited Wilson Bank Holding Company and Subsidiary’s internal control over financial reporting as of December 31, 2015, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Wilson Bank Holding Company’s management is responsible for these financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on these financial statements and an opinion on the Company’s internal control over financial reporting based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB) United States. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Wilson Bank Holding Company and Subsidiary as of December 31, 2015 and 2014, and the results of their operations and their cash flows for each of the years in the three year period ended December 31, 2015, in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, Wilson Bank Holding Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2015, based on criteria established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

/s/ Maggart & Associates, P.C.

Nashville, Tennessee

January 25, 2016    

150 FOURTH AVENUE, NORTH ▪ SUITE 2150 ▪ NASHVILLE, TENNESSEE 37219-2431 ▪ (615) 252-6100 ▪ Fax ▪ (615) 252-6105

www.maggartpc.com

WILSON BANK HOLDING COMPANY

Consolidated Balance Sheets

December 31, 2015 and 2014

	Dollars in thousands
	2015			2014
ASSETS
Loans, net of allowance for loan losses of $22,900 and $22,572, respectively	$	1,443,179		1,329,865
Securities:
Held-to-maturity, at amortized cost (market value $28,365 and $28,400, respectively)	28,195			28,123
Available-for-sale, at market (amortized cost $332,506 and $347,520, respectively)	331,128			346,420
Total securities	359,323			374,543
Loans held for sale	10,135			9,466
Federal funds sold	35,220			16,005
Restricted equity securities, at cost	3,012			3,012
Total earning assets	1,850,869			1,732,891
Cash and due from banks	74,033			52,002
Premises and equipment, net	42,100			40,123
Accrued interest receivable	5,244			5,463
Deferred income taxes	8,039			9,171
Other real estate	5,410			7,298
Bank owned life insurance and annuity contracts	26,672			17,331
Goodwill	4,805			4,805
Other assets	4,432			4,158
Total assets	$	2,021,604		1,873,242
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	$	1,789,850		1,660,270
Securities sold under repurchase agreements	2,035			3,437
Accrued interest and other liabilities	6,281			8,643
Total liabilities	1,798,166			1,672,350
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	15,304			15,144
Additional paid-in capital	61,339			57,709
Retained earnings	147,646			128,718
Net unrealized losses on available-for-sale securities, net of taxes of $527 and $421, respectively	(851		)	(679	)
Total stockholders’ equity	223,438			200,892
COMMITMENTS AND CONTINGENCIES
Total liabilities and stockholders’ equity	$	2,021,604		1,873,242

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Consolidated Statements of Earnings

Three Years Ended December 31, 2015

	Dollars In Thousands (except per share data)
	2015			2014		2013
Interest income:
Interest and fees on loans	$	71,543		66,685		66,177
Interest and dividends on securities:
Taxable securities	5,868			6,464		4,411
Exempt from Federal income taxes	768			679		603
Interest on loans held for sale	385			263		258
Interest on Federal funds sold	154			167		215
Interest and dividends on restricted equity securities	121			122		150
Total interest income	78,839			74,380		71,814
Interest expense:
Interest on negotiable order of withdrawal accounts	1,515			1,587		1,589
Interest on money market accounts and other savings accounts	1,906			2,366		2,407
Interest on certificates of deposit and individual retirement accounts	5,179			5,791		6,832
Interest on securities sold under repurchase agreements	7			23		50
Interest on Federal funds purchased	1			1		1
Total interest expense	8,608			9,768		10,879
Net interest income before provision for loan losses	70,231			64,612		60,935
Provision for loan losses	388			498		2,177
Net interest income after provision for loan losses	69,843			64,114		58,758
Non-interest income	19,941			16,678		15,204
Non-interest expense	(52,159		)	(47,705	)	(48,787	)
Earnings before income taxes	37,625			33,087		25,175
Income taxes	13,762			12,310		9,306
Net earnings	$	23,863		20,777		15,869
Basic earnings per common share	$	3.13		2.75		2.12
Diluted earnings per common share	$	3.13		2.75		2.12
Weighted average common shares outstanding:
Basic	7,624,108			7,547,087		7,472,373
Diluted	7,627,635			7,551,480		7,477,171

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Consolidated Statements of Comprehensive Earnings

Three Years Ended December 31, 2015

	Dollars In Thousands
	2015			2014		2013
Net earnings	$	23,863		20,777		15,869
Other comprehensive earnings, net of tax:
Net unrealized gains (losses) on available-for-sale securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively	(58		)	3,953		(6,820	)
Reclassification adjustment for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively	(114		)	(336	)	(48	)
Other comprehensive earnings (losses)	(172		)	3,617		(6,868	)
Comprehensive earnings	$	23,691		24,394		9,001

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Consolidated Statements of Changes in Stockholders’ Equity

Three Years Ended December 31, 2015

	Dollars In Thousands
	Common Stock			Additional Paid-In Capital		Retained Earnings		Net Unrealized Gain (Loss) On Available-For-Sale Securities		Total
Balance December 31, 2012	$	14,838		51,242		101,046		2,572		169,698
Cash dividends declared, $.60 per share	—			—		(4,464	)	—		(4,464	)
Issuance of 73,411 shares of stock pursuant to dividend reinvestment plan	147			3,101		—		—		3,248
Issuance of 5,973 shares of stock pursuant to exercise of stock options	12			144		—		—		156
Share based compensation expense	—			32		—		—		32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261	—			—		—		(6,868	)	(6,868	)
Net earnings for the year	—			—		15,869		—		15,869
Balance December 31, 2013	14,997			54,519		112,451		(4,296	)	177,671
Cash dividends declared, $.60 per share	—			—		(4,510	)	—		(4,510	)
Issuance of 69,289 shares of stock pursuant to dividend reinvestment plan	139			3,065		—		—		3,204
Issuance of 6,144 shares of stock pursuant to exercise of stock options	12			174		—		—		186
Share based compensation expense	—			41		—		—		41
Net change in fair value of available-for-sale securities during the year, net of taxes of $2,245	—			—		—		3,617		3,617
Repurchase of 2,053 common shares	(4		)	(90	)	—		—		(94	)
Net earnings for the year	—			—		20,777		—		20,777
Balance December 31, 2014	15,144			57,709		128,718		(679	)	200,892
Cash dividends declared, $.65 per share	—			—		(4,935	)	—		(4,935	)
Issuance of 72,543 shares of stock pursuant to dividend reinvestment plan	145			3,366		—		—		3,511
Issuance of 7,633 shares of stock pursuant to exercise of stock options	15			226		—		—		241
Share based compensation expense	—			38		—		—		38
Net change in fair value of available-for-sale securities during the year, net of taxes of $106	—			—		—		(172	)	(172	)
Net earnings for the year	—			—		23,863		—		23,863
Balance December 31, 2015	$	15,304		61,339		147,646		(851	)	223,438

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Consolidated Statements of Cash Flows

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars In Thousands
	2015			2014		2013
Cash flows from operating activities:
Interest received	$	81,054		75,937		75,201
Fees and other income received	15,346			13,269		11,816
Proceeds from sales of loans	157,261			105,414		121,055
Origination of loans held for sale	(153,882		)	(105,078	)	(109,131	)
Interest paid	(8,728		)	(9,964	)	(11,396	)
Cash paid to suppliers and employees	(51,474		)	(45,890	)	(41,968	)
Income taxes paid	(13,937		)	(12,277	)	(8,413	)
Net cash provided by operating activities	25,640			21,411		37,164
Cash flows from investing activities:
Purchase of available-for-sale securities	(125,000		)	(171,497	)	(109,662	)
Proceeds from calls, maturities and paydowns of available-for-sale securities	95,620			86,946		76,811
Proceeds from sale of available-for-sale securities	42,845			72,215		6,867
Purchase of held-to-maturity securities	(4,413		)	(3,610	)	(14,250	)
Proceeds from maturities and paydowns of held-to-maturity securities	4,079			2,049		2,749
Loans made to customers, net of repayments	(114,456		)	(144,410	)	(48,636	)
Purchase of bank owned life insurance and annuity contracts	(8,464		)	(5,565	)	(5,000	)
Purchase of bank premises and equipment	(4,612		)	(4,145	)	(4,074	)
Proceeds from sale of other assets	12			4		51
Proceeds from sale of other real estate	3,000			3,945		5,053
Net cash used in investing activities	(111,389		)	(164,068	)	(90,091	)
Cash flows from financing activities:
Net increase in non-interest bearing, savings, NOW and money market deposit accounts	160,760			147,458		95,320
Net decrease in time deposits	(31,180		)	(41,443	)	(34,987	)
Net decrease in securities sold under agreements to repurchase	(1,402		)	(5,641	)	(1,506	)
Dividends paid	(4,935		)	(4,510	)	(4,464	)
Proceeds from sale of common stock pursuant to dividend reinvestment	3,511			3,204		3,248
Proceeds from sale of common stock pursuant to exercise of stock options	241			186		156
Repurchase of common shares	—			(94	)	—
Net cash provided by financing activities	126,995			99,160		57,767
Net increase (decrease) in cash and cash equivalents	41,246			(43,497	)	4,840
Cash and cash equivalents at beginning of year	68,007			111,504		106,664
Cash and cash equivalents at end of year	109,253			68,007		111,504

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Consolidated Statements of Cash Flows, Continued

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars In Thousands
	2015			2014		2013
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	$	23,863		20,777		15,869
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and accretion	4,578			4,162		4,787
Provision for loan losses	388			498		2,177
Share based compensation expense	38			41		32
Provision for deferred tax expense	1,238			634		1,068
Write downs and loss (gains) on sales of other real estate, net	(362		)	(77	)	1,642
Loss on sales of other assets	2			6		3
Loss (gain) on sale of premises and equipment	53			(7	)	(12	)
Security gains	(185		)	(545	)	(78	)
Decrease (increase) in loans held for sale	(669		)	(2,444	)	8,626
Decrease in taxes payable	(1,413		)	(601	)	(175	)
Decrease (increase) in other assets	(1,161		)	(1,297	)	1,337
Decrease (increase) in accrued interest receivable	219			(400	)	363
Decrease in interest payable	(120		)	(196	)	(517	)
Increase (decrease) in accrued expenses	(829		)	860		2,042
Total adjustments	1,777			634		21,295
Net cash provided by operating activities	$	25,640		21,411		37,164
Supplemental Schedule of Non-Cash Activities:
Unrealized gain (loss) in value of securities available-for-sale, net of taxes of $106 in 2015, $2,245 in 2014, and $4,261 in 2013	$	(172	)	3,617		(6,868	)
Non-cash transfers from loans to other real estate	$	1,930		799		5,539
Non-cash transfers from other real estate to loans	$	1,180		2,502		1,282
Non-cash transfers from loans to other assets	$	4		17		46

See accompanying notes to consolidated financial statements.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements

December 31, 2015, 2014 and 2013

(1) Summary of Significant Accounting Policies

The accounting and reporting policies of Wilson Bank Holding Company (“the Company”) and Wilson Bank & Trust (“Wilson Bank”) are in accordance with accounting principles generally accepted in the United States of America (“U.S.”) 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 and its wholly-owned subsidiary Wilson Bank. 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 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, and eastern Davidson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at the main office and twenty-five branch locations.

(c) Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States (“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 loan losses, the valuation of deferred tax assets and other real estate, other-than-temporary impairments of securities, 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.

Residential 1-4 family, commercial real estate and construction mortgage loans, represented 24%, 43% and 19% and 26%, 42% and 18% of the loan portfolio at December 31, 2015 and 2014, respectively.

(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 loan losses, and any unamortized deferred fees or costs on originated loans, and premiums or discounts on purchased loans.

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 our 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 our independent loan review department. Risk ratings are categorized as pass, special mention, substandard or doubtful. The Company believes that our categories follow those outlined by our primary 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

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

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 Loan Losses

Management provides for loan losses by establishing an allowance. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s quarterly review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.

In assessing the adequacy of the allowance, we also consider the results of our ongoing independent loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, independent loan reviewers, and reviews that may have been conducted by third-party reviewers. We incorporate relevant loan review results in the loan impairment determination. In addition, regulatory agencies, as an integral part of their examination process, will periodically review the Company’s allowance for loan losses and may require the Company to record adjustments to the allowance based on their judgment about information available to them at the time of their examinations.

In addition to the independent loan review process, the aforementioned risk ratings are subject to continual review by loan officers to determine that the appropriate risk ratings are being utilized in our allowance for loan loss process. Each risk rating is also subject to review by our independent loan review department. Currently, our independent loan review department targets reviews of 100% of existing loan relationships with aggregate debt of $1.0 million and greater and new loans with aggregate debt of $500,000 and greater. In addition, our loan review targets portfolio segments, loans assigned to a particular lending officer, and loans with four or more renewals.

The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are individually classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and other adjustments based on management’s assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial, mortgage and agricultural loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent.

Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment disclosures, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(g) Debt and Equity 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 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.

Other-than-temporary Impairment—Impaired securities are assessed quarterly for the presence of other-than-temporary impairment (“OTTI”). A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in a reduction in the carrying amount of the security. To determine whether OTTI has occurred, management considers factors such as (1) length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospectus of the issuer, and (3) the Bank’s ability and intent to hold the security for a period sufficient to allow for any anticipated recovery in fair value. If management deems a security to be OTTI, management reviews the present value of the future cash flows associated with the security. A shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is referred to as a credit loss. If a credit loss is identified, the credit loss is recognized as a charge to earnings and a new cost basis for the security is established. If management concludes that no credit loss exists and it is not “more-likely-than-not” that it will be required to sell the security before the recovery of the security’s cost basis, then the security is not deemed OTTI and the shortfall is recorded as a component of equity.

No securities have been classified as trading securities.

(h) Federal Home Loan Bank Stock

The Company, as a member of the Federal Home Loan Bank (“FHLB”) Cincinnati system, is required to maintain an investment in capital stock of the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at par value, which approximates its fair value. Management reviews the investment for impairment based on the ultimate recoverability of the cost basis in the FHLB stock. As of December 31, 2015, the minimum required investment was approximately $2,235,000. Stock redemptions are at the discretion of the FHLB.

(i) 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.

(j) 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. 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.

(k) Other Real Estate

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 of foreclosure, 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 in net expenses from foreclosed assets.

(l) Intangible Assets

The Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 350, Goodwill and Other Intangible Assets requires that management determine the allocation of intangible assets into identifiable groups

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

at the date of acquisition and that appropriate amortization periods be established. Under the provisions of FASB ASC 350, goodwill is not to be amortized; rather, it is to be monitored for impairment and written down to the impairment value at the time impairment occurs. The Company has determined that no impairment loss needs to be recognized related to its goodwill.

(m) Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, 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.

(n) 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.

(o) Securities Sold Under Agreements to Repurchase

Substantially all repurchase agreement liabilities represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by Federal deposit insurance.

(p) 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 or excess of deductions over revenues. 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.

(q) Stock Options

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, share appreciation rights, and employee share purchase plans.

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.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(r) Advertising Costs

Advertising costs are expensed as incurred by the Company and totaled $2,337,000, $1,884,000 and $2,104,000 for 2015, 2014 and 2013, respectively.

(s) 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.

(t) 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 20 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.

(u) Reclassification

Certain reclassifications have been made to the 2014 and 2013 figures to conform to the presentation for 2015.

(v) 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.

(w) Recently Adopted Accounting Pronouncements

In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” which provides disclosure guidance on amounts reclassified out of Accumulated Other Comprehensive Income by component. The adoption of this ASU did not have any impact on the Company’s financial position or results of operations but has impacted our financial statement disclosure.

In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40); Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, to reduce the diversity in reporting when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. As of December 31, 2015, the Company had no loans that met the above stated criteria. The total amount of foreclosed residential real property amounted to $550,000 and $456,000 at December 31, 2015 and December 31, 2014, respectively.

There were no other recently issued accounting pronouncements that are expected to materially impact the Company.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(2) Loans and Allowance for Loan Losses

The classification of loans at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Mortgage loans on real estate:
Residential 1-4 family	$	349,631		350,758
Multifamily	49,564			31,242
Commercial	625,623			564,965
Construction	275,319			245,830
Farmland	32,114			30,236
Second mortgages	7,551			9,026
Equity lines of credit	46,506			41,496
Total mortgage loans on real estate	1,386,308			1,273,553
Commercial loans	30,537			30,000
Agriculture loans	1,552			1,670
Consumer installment loans:
Personal	40,196			37,745
Credit cards	3,271			3,280
Total consumer installment loans	43,467			41,025
Other loans	9,250			10,530
	1,471,114			1,356,778
Net deferred loan fees	(5,035		)	(4,341	)
Total loans	1,466,079			1,352,437
Less: Allowance for loan losses	(22,900		)	(22,572	)
Loans, net	$	1,443,179		1,329,865

At December 31, 2015, variable rate and fixed rate loans totaled $970,428,000 and $500,686,000, respectively. At December 31, 2014, variable rate and fixed rate loans totaled $863,474,000 and $488,963,000, respectively.

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 $6,576,000 and $11,744,000 at December 31, 2015 and 2014, 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, 2015.

An analysis of the activity with respect to such loans to related parties is as follows:

	In Thousands
	December 31,
	2015			2014
Balance, January 1	$	11,744		10,821
New loans and renewals during the year	12,329			9,406
Repayments (including loans paid by renewal) during the year	(17,497		)	(8,483	)
Balance, December 31	$	6,576		11,744

During 2013, a director of the Company performed appraisals related to certain loan customers. Fees paid to the director for these services totaled $237,000.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(2) Loans and Allowance for Loan Losses, Continued

Risk characteristics relevant to each portfolio segment are as follows:

Construction and land development: 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.

1-4 family residential 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 HELOC: 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.

Multi-family and commercial real estate: Multi-family and commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, 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

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(2) Loans and Allowance for Loan Losses, Continued

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. 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 provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans 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 loan 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.

A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310), when based on current information and events, it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Substantially all of the Company’s impaired loans are collateral dependent.

The following tables, present the Company’s impaired loans at December 31, 2015 and 2014:

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With no related allowance recorded:
Residential 1-4 family	$	633	622	—	724	39
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	5,048	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	431	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,796	7,778	—	6,689	160

	In Thousands
	Record Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With allowance recorded:
Residential 1-4 family	$	834	827	194	785	47
Multifamily	—		—	—	—	—
Commercial real estate	—		—	—	3,419	—
Construction	—		—	—	—	—
Farmland	—		—	—	144	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	834	827	194	4,348	47

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
Total:
Residential 1-4 family	$	1,467	1,449	194	1,509	86
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	8,467	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	575	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	8,630	8,605	194	11,037	207

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With no related allowance recorded:
Residential 1-4 family	$	1,891	1,854	—	1,081	114
Multifamily	—		—	—	—	—
Commercial real estate	1,352		2,188	—	5,984	95
Construction	—		—	—	673	—
Farmland	—		—	—	—	—
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	3,524	4,322	—	7,960	212

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With allowance recorded:
Residential 1-4 family	$	1,219	1,207	376	1,363	61
Multifamily	—		—	—	—	—
Commercial real estate	5,131		6,811	1,135	5,755	202
Construction	—		—	—	1,815	—
Farmland	702		701	120	767	7
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,052	8,719	1,631	9,700	270
December 31, 2014
Total:
Residential 1-4 family	$	3,110	3,061	376	2,444	175
Multifamily	—		—	—	—	—
Commercial real estate	6,483		8,999	1,135	11,739	297
Construction	—		—	—	2,488	—
Farmland	702		701	120	767	7
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	10,576	13,041	1,631	17,660	482

The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2015 and 2014.

Loans on Nonaccrual Status

	In Thousands
	2015		2014
Residential 1-4 family	$	41	42
Multifamily	—		—
Commercial real estate	4,293		—
Construction	—		—
Farmland	575		574
Second mortgages	—		—
Equity lines of credit	—		—
Commercial	—		—
Agricultural, installment and other	—		—
Total	$	4,909	616

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

The amount of interest income that would have been recognized for the years ended December 31, 2015 and 2014 amounted to $291,000 and $39,000, respectively, if the above nonaccrual loans had been current.

Potential problem loans, which include nonperforming loans, amounted to approximately $25.2 million at December 31, 2015 compared to $35.8 million at December 31, 2014. 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 impaired and places the loans on nonaccrual status.

Credit Quality Indicators

	In Thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate	Construction	Farmland	Second Mortgages	Equity Lines of Credit	Commercial	Agricultural, Installment and Other	Total
Credit Risk Profile by Internally Assigned Grade
December 31, 2015
Pass	$	340,019	49,564	612,318	274,926	30,933	7,097	46,361	30,525	54,154	1,445,897
Special mention	6,957		—	8,227	277	200	353	—	10	38	16,062
Substandard	2,655		—	5,078	116	981	101	145	2	77	9,155
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	349,631	49,564	625,623	275,319	32,114	7,551	46,506	30,537	54,269	1,471,114
December 31, 2014
Pass	339,529		31,242	545,301	243,416	29,260	8,007	41,274	29,893	53,048	1,320,970
Special mention	7,681		—	13,313	2,362	57	347	176	18	16	23,970
Substandard	3,548		—	6,351	52	919	672	46	89	161	11,838
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	350,758	31,242	564,965	245,830	30,236	9,026	41,496	30,000	53,225	1,356,778

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

Age Analysis of Past Due Loans

	In Thousands
	30-59 Days Past Due		60-89 Days Past Due	Nonaccrual and Greater Than 90 Days	Total Nonaccrual and Past Due	Current	Total Loans	Recorded Investment Greater Than 90 Days and Accruing
December 31, 2015
Residential 1-4 family	$	3,272	1,198	1,412	5,882	343,749	349,631	1,371
Multifamily	—		—	—	—	49,564	49,564	—
Commercial real estate	172		—	4,293	4,465	621,158	625,623	—
Construction	958		230	—	1,188	274,131	275,319	—
Farmland	88		21	886	995	31,119	32,114	311
Second mortgages	87		—	4	91	7,460	7,551	4
Equity lines of credit	283		89	197	569	45,937	46,506	197
Commercial	2		—	39	41	30,496	30,537	39
Agricultural, installment and other	382		114	56	552	53,717	54,269	56
Total	5,244		1,652	6,887	13,783	1,457,331	1,471,114	1,978
December 31, 2014
Residential 1-4 family	$	6,166	1,275	1,352	8,793	341,965	350,758	1,310
Multifamily	—		—	—	—	31,242	31,242	—
Commercial real estate	2,151		242	19	2,412	562,553	564,965	19
Construction	125		91	73	289	245,541	245,830	73
Farmland	88		—	594	682	29,554	30,236	20
Second mortgages	286		18	70	374	8,652	9,026	70
Equity lines of credit	346		—	5	351	41,145	41,496	5
Commercial	37		—	—	37	29,963	30,000	—
Agricultural, installment and other	301		126	44	471	52,754	53,225	44
Total	$	9,500	1,752	2,157	13,409	1,343,369	1,356,778	1,541

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

Transactions in the allowance for loan losses for the years ended December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	Residential 1-4 Family			Multifamily	Commercial Real Estate		Construction		Farmland		Second Mortgages		Equity Lines of Credit		Commercial	Agricultural, Installment and Other		Total
December 31, 2015
Allowance for loan losses:
Beginning balance	$	5,582		172	9,578		5,578		795		61		304		176	326		22,572
Provision	(290		)	447	(267	)	(455	)	(142	)	87		303		118	587		388
Charge-offs	(311		)	—	(44	)	(26	)	—		(45	)	(14	)	—	(664	)	(1,104	)
Recoveries	43			—	719		39		1		3		1		7	231		1,044
Ending balance	$	5,024		619	9,986		5,136		654		106		594		301	480		22,900
Ending balance individually evaluated for impairment	$	194		—	—		—		—		—		—		—	—		194
Ending balance collectively evaluated for impairment	$	4,830		619	9,986		5,136		654		106		594		301	480		22,706
Ending balance loans acquired with deteriorated credit quality	$	—		—	—		—		—		—		—		—	—		—
Loans:
Ending balance	$	349,631		49,564	625,623		275,319		32,114		7,551		46,506		30,537	54,269		1,471,114
Ending balance individually evaluated for impairment	$	1,449		—	4,643		1,938		575		—		—		—	—		8,605
Ending balance collectively evaluated for impairment	$	348,182		49,564	620,980		273,381		31,539		7,551		46,506		30,537	54,269		1,462,509
Ending balance loans acquired with deteriorated credit quality	—			—	—		—		—		—		—		—	—		—

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	In thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate		Construction		Farmland	Second Mortgages		Equity Lines of Credit	Commercial		Agricultural, Installment and Other		Total
December 31, 2014
Allowance for loan losses:
Beginning balance	4,935		77	10,918		5,159		618	205		300	395		328		22,935
Provision	1,059		95	(378	)	102		176	(164	)	3	(641	)	246		498
Charge-offs	(468	)	—	(968	)	(7	)	—	—		—	(37	)	(387	)	(1,867	)
Recoveries	56		—	6		324		1	20		1	459		139		1,006
Ending balance	5,582		172	9,578		5,578		795	61		304	176		326		22,572
Ending balance individually evaluated for impairment	376		—	1,135		—		120	—		—	—		—		1,631
Ending balance collectively evaluated for impairment	5,206		172	8,443		5,578		675	61		304	176		326		20,941
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—
Loans:
Ending balance	350,758		31,242	564,965		245,830		30,236	9,026		41,496	30,000		53,225		1,356,778
Ending balance individually evaluated for impairment	3,061		—	6,455		—		701	280		—	—		—		10,497
Ending balance collectively evaluated for impairment	347,697		31,242	558,510		245,830		29,535	8,746		41,496	30,000		53,225		1,346,281
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—

The Company’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring (TDR), where economic 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, 2015 and December 31, 2014 (dollars in thousands):

	2015		2014
Performing TDRs	$	983	5,448
Nonperforming TDRs	3,121		2,592
Total TDRs	$	4,104	8,040

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

The following table outlines the amount of each troubled debt restructuring categorized by loan classification for the years ended December 31, 2015 and 2014 (dollars in thousands):

	December 31, 2015			December 31, 2014
	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance
Residential 1-4 family	2	77	77	6	1,346	1,218
Multifamily	—	—	—	—	—	—
Commercial real estate	—	—	—	2	1,020	1,020
Construction	1	1,938	1,938	—	—	—
Farmland	—	—	—	—	—	—
Second mortgages	—	—	—	—	—	—
Equity lines of credit	—	—	—	—	—	—
Commercial	—	—	—	1	3	3
Agricultural, installment and other	1	2	1	1	1	1
Total	4	2,017	2,016	10	2,370	2,242

As of December 31, 2015 the Company had two loans totaling $1,060,000 previously classified as troubled debt restructurings default within twelve months of the restructuring. As of December 31, 2014, the Company had two loans totaling $844,000 previously classified as troubled debt restructurings subsequently default within twelve months of the restructuring. A default is defined as an occurrence which violates the terms of the receivable’s contract.

The Company’s principal customers are primarily in the Middle Tennessee area with a concentration in Wilson County, 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 2015, 2014 and 2013, the Company originated loans in the secondary market of $153,882,000, $105,078,000 and $109,131,000, respectively. The fees and gain on sale of these loans totaled $4,048,000$2,780,000 and $3,298,000 in 2015, 2014 and 2013, respectively. The Company sells loans to third-party investors on a loan-by-loan basis and has not entered into any forward commitments with investors for future bulk sales. All of these loan sales transfer servicing rights to the buyer.

In some instances Wilson Bank sells loans that contain provisions which permit the borrower to seek recourse against Wilson Bank in certain circumstances. At December 31, 2015 and 2014, total loans sold with recourse in the secondary market aggregated $111,521,000 and $79,682,000, respectively. At December 31, 2015, Wilson Bank has not been required to repurchase a significant amount of the loans originated by Wilson Bank and sold in the secondary market. Management expects no material losses to result from these recourse provisions.

(3) Debt and Equity Securities

Debt and equity securities have been classified in the consolidated balance sheet according to management’s intent. Debt and equity securities at December 31, 2015 consist of the following:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	9,375	60	169	9,266
Obligations of states and political subdivisions	18,820		288	9	19,099
	$	28,195	348	178	28,365

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	77,177	215	483	76,909
Mortgage-backed:
GSE residential	192,983		430	1,498	191,915
Asset-backed:
SBAP	31,253		54	273	31,034
Obligations of states and political subdivisions	31,093		274	97	31,270
	$	332,506	973	2,351	331,128

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

The Company’s classification of securities at December 31, 2014 is as follows:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	7,398	76	147	7,327
Obligations of states and political subdivisions	20,725		389	41	21,073
	$	28,123	465	188	28,400

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	131,767	129	1,329	130,567
Mortgage-backed:
GSE residential	170,802		731	464	171,069
Asset-backed:
SBAP	30,627		98	205	30,520
Obligations of states and political subdivisions	14,324		98	158	14,264
	$	347,520	1,056	2,156	346,420

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

Included in mortgage-backed GSE residential available-for-sale securities are collateralized mortgage obligations totaling $14,269,000 (fair value of $14,168,000) and $12,254,000 (fair value of $12,305,000) at December 31, 2015 and 2014, respectively.

The amortized cost and estimated market value of debt securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	In Thousands
Securities Held-To-Maturity	Amortized Cost		Estimated Market Value
Due in one year or less	$	1,309	1,321
Due after one year through five years	10,390		10,541
Due after five years through ten years	3,985		4,050
Due after ten years	3,136		3,187
	18,820		19,099
Mortgage-backed securities	9,375		9,266
	$	28,195	28,365

	In Thousands
Securities Available-For-Sale	Amortized Cost		Estimated Market Value
Due in one year or less	—		—
Due after one year through five years	42,769		42,767
Due after five years through ten years	62,760		62,659
Due after ten years	2,741		2,753
	108,270		108,179
Mortgage and asset-backed securities	224,236		222,949
	$	332,506	331,128

Results from sales of debt and equity securities are as follows:

	In Thousands
	2015			2014		2013
Gross proceeds	$	42,845		72,215		6,867
Gross realized gains	$	261		638		$	78
Gross realized losses	(76		)	(93	)	—
Net realized gains	$	185		545		$	78

Securities carried in the balance sheet of approximately $163,674,000 (approximate market value of $162,905,000) and $187,059,000 (approximate market value of $186,091,000) were pledged to secure public deposits and for other purposes as required or permitted by law at December 31, 2015 and 2014, respectively.

Included in the securities above are $21,593,000 (approximate market value of $21,896,000) and $21,823,000 (approximate market value of $22,162,000) at December 31, 2015 and 2014, respectively, in obligations of political subdivisions located within the State of Tennessee. Management purchases only obligations of such political subdivisions it considers to be financially sound.

Securities that have rates that adjust prior to maturity totaled $40,023,000 (approximate market value of $40,009,000) and $11,950,000 (approximate market value of $11,943,000) at December 31, 2015 and 2014, respectively.

Temporarily Impaired Securities

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

Available-for-sale and held to maturity securities that have been in a continuous unrealized loss position at December 31, 2015 are as follows:

	In Thousands, Except Number of Securities
	Less than 12 Months			12 Months or More			Total
	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses
Held to Maturity Securities:
Debt securities:
Mortgage-backed:
GSE residential	4,339	45	3	2,717	124	3	7,056	169
Obligations of states and political subdivisions	3,461	9	10	—	—	—	3,461	9
	7,800	54	13	2,717	124	3	10,517	178
Available-for-Sale Securities:
Debt securities:
GSEs	33,369	232	12	17,829	251	6	51,198	483
Mortgage-backed:
GSE residential	142,251	1,407	66	4,521	91	7	146,772	1,498
Asset-backed:
SBAP	22,811	273	12	—	—	—	22,811	273
Obligations of states and political subdivisions	7,925	60	18	3,350	37	9	11,275	97
	206,356	1,972	108	25,700	379	22	232,056	2,351

(4) Restricted Equity Securities

Restricted equity securities consists of stock of the Federal Home Loan Bank of Cincinnati amounting to $3,012,000 at December 31, 2015 and 2014, 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.

(5) Premises and Equipment

The detail of premises and equipment at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Land	$	17,022		16,662
Buildings	27,821			27,898
Leasehold improvements	140			140
Furniture and equipment	8,605			7,115
Automobiles	280			112
Construction-in-progress	2,091			3
	55,959			51,930
Less accumulated depreciation	(13,859		)	(11,807	)
	$	42,100		40,123

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

During 2015, 2014 and 2013 payments of $1,222,000, $1,176,000 and $1,154,000, respectively, were made to an entity owned by a director for the construction of buildings and minor repair work.

Depreciation expense was $2,582,000, $2,205,000 and $1,763,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

(6) Acquired Intangible Assets and Goodwill

The intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of 50% owned subsidiaries in 2005.

	In Thousands
	2015		2014
Goodwill:
Balance at January 1,	$	4,805	4,805
Goodwill acquired during year	—		—
Impairment loss	—		—
Balance at December 31,	$	4,805	4,805

(7) Deposits

Deposits at December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	2015		2014
Demand deposits	$	197,062	155,721
Savings accounts	107,829		102,432
Negotiable order of withdrawal accounts	445,967		375,967
Money market demand accounts	523,895		479,549
Certificates of deposit $100,000 or greater	220,151		229,709
Other certificates of deposit	208,359		225,766
Individual retirement accounts $100,000 or greater	38,058		40,590
Other individual retirement accounts	48,529		50,536
	$	1,789,850	1,660,270

Deposit accounts with a balance greater than $250,000 at December 31, 2015 totaled $467,559,000.

Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2015 are as follows:

	(In Thousands)
Maturity	Total
2016	$	232,189
2017	132,540
2018	93,092
2019	35,463
2020	21,305
Thereafter	508
	$	515,097

The aggregate amount of overdrafts reclassified as loans receivable was $303,000 and $373,000 at December 31, 2015 and 2014, respectively.

As of December 31, 2015 and 2014, Wilson Bank was not required to maintain a cash balance with the Federal Reserve.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(8) Securities Sold Under Repurchase Agreements

Securities sold under repurchase agreements were $2,035,000 and $3,437,000 at December 31, 2015 and 2014, respectively. The maximum amounts of outstanding repurchase agreements at any month end during 2015 and 2014 were $3,514,000 and $8,753,000, respectively. The average daily balance outstanding during 2015 and 2014 was $2,505,000 and $5,784,000, respectively. The weighted-average interest rate on the outstanding balance at December 31, 2015 and 2014 was .25% and .27%, respectively. The underlying securities are typically held by other financial institutions and are designated as pledged.

(9) Non-Interest Income and Non-Interest Expense

The significant components of non-interest income and non-interest expense for the years ended December 31, 2015, 2014 and 2013 are presented below:

	In Thousands
	2015		2014		2013
Non-interest income:
Service charges on deposits	$	5,148	$	4,374	4,090
Other fees and commissions	9,321		8,519		7,651
BOLI and annuity earnings	877		376		75
Security gains, net	185		545		78
Fees and gains on sales of loans	4,048		2,780		3,298
Gain on sale of other real estate, net	362		77		—
Gain on sale of fixed assets, net	—		7		12
	$	19,941	$	16,678	15,204

	In Thousands
	2015		2014		2013
Non-interest expense:
Employee salaries and benefits	$	31,556	$	27,793	25,697
Occupancy expenses	3,444		3,100		2,715
Furniture and equipment expenses	2,063		1,767		1,406
Loss on the sale of fixed assets, net	53		—		—
Loss on sales of other assets, net	2		6		3
Write downs and loss on sales of other real estate, net	—		—		1,642
Data processing expenses	2,476		2,313		1,902
FDIC insurance	953		1,049		1,220
Directors’ fees	735		720		707
Other operating expenses	10,877		10,957		13,495
	$	52,159	$	47,705	48,787

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(10) Income Taxes

The components of the net deferred tax asset are as follows:

	In Thousands
	2015			2014
Deferred tax asset:
Federal	$	8,954		9,818
State	1,380			1,556
	10,334			11,374
Deferred tax liability:
Federal	(1,905		)	(1,829	)
State	(390		)	(374	)
	(2,295		)	(2,203	)
Net deferred tax asset	$	8,039		9,171

The tax effects of each type of significant item that gave rise to deferred tax assets (liabilities) are:

	In Thousands
	2015			2014
Financial statement allowance for loan losses in excess of tax allowance	$	8,317		8,191
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements	(1,815		)	(1,723	)
Financial statement deduction for deferred compensation in excess of deduction for tax purposes	1,174			1,010
Writedown of other real estate not deductible for income tax purposes until sold	162			1,024
Financial statement income on FHLB stock dividends not recognized for tax purposes	(480		)	(480	)
Unrealized loss on securities available-for-sale	528			421
Other items, net	153			728
	$	8,039		9,171

The components of income tax expense are summarized as follows:

	In Thousands
	Federal		State	Total
2015
Current	$	10,871	1,653	12,524
Deferred	1,028		210	1,238
Total	$	11,899	1,863	13,762
2014
Current	$	10,201	1,475	11,676
Deferred	526		108	634
Total	$	10,727	1,583	12,310
2013
Current	$	7,193	1,045	8,238
Deferred	898		170	1,068
Total	$	8,091	1,215	9,306

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

A reconciliation of actual income tax expense of $13,762,000, $12,310,000 and $9,306,000 for the years ended December 31, 2015, 2014 and 2013, respectively, to the “expected” tax expense (computed by applying the statutory rate of 34% to earnings before income taxes) is as follows:

	In Thousands
	2015			2014		2013
Computed “expected” tax expense	$	12,793		11,250		8,559
State income taxes, net of Federal income tax benefit	1,243			1,029		937
Tax exempt interest, net of interest expense exclusion	(266		)	(244	)	(234	)
Federal income tax rate in excess of statutory rate related to taxable income over $10 million	312			290		204
Earnings on cash surrender value of life insurance	(298		)	(128	)	(25	)
Expenses not deductible for tax purposes	35			37		35
Stock based compensation expense	13			14		11
Other	(70		)	62		(181	)
	$	13,762		12,310		9,306

Total income tax expense for 2015, 2014 and 2013, includes $71,000, $209,000 and $30,000 of expense related to the realized gain and loss, respectively, on sale of securities.

As of December 31, 2015, 2014 and 2013 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.

There were no unrecognized tax benefits at December 31, 2015.

Wilson Bank does not expect that unrecognized tax benefits will significantly increase or decrease within the next 12 months. Included in the balance at December 31, 2015, were approximately $10.3 million of tax positions (deferred tax assets) for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest, the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period.

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 2011. The Company’s Federal tax returns have been audited through December 31, 2004 with no changes.

(11) 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 consolidated financial position.

Wilson Bank leases land for certain branch facilities and automatic teller machine locations. Future minimum rental payments required under the terms of the noncancellable leases are as follows:

Years Ending December 31,	In Thousands
2016	$	141
2017	77
2018	50
2019	53
2020	56

Total rent expense amounted to $192,000, $133,000 and $128,000, respectively, during the years ended December 31, 2015, 2014 and 2013.

The Company has lines of credit with other financial institutions totaling $53,000,000 at December 31, 2015 and 2014, respectively. At December 31, 2015 and 2014, respectively, there was no balance outstanding under these lines of credit.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

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. 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 $15,000,000, 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, 2015 or December 31, 2014.

(12) 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
	2015		2014
Financial instruments whose contract amounts represent credit risk:
Unused commitments to extend credit	$	391,553	307,332
Standby letters of credit	36,631		33,447
Total	$	428,184	340,779

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.

(13) Concentration of Credit Risk

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 1 to 2 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 counter parties drawing on such financial instruments and the present creditworthiness of such counter parties. 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 $33.6 million at December 31, 2015.

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. Investment in state and municipal securities also include governmental entities within the Company’s market area. The concentrations of credit by type of loan are set forth in note 2 to the consolidated financial statements.

At December 31, 2015, the Company’s cash and due from banks and federal funds sold included commercial bank deposits aggregating $35,757,000 in excess of the FDIC limit of $250,000 per depositor.

Federal funds sold were deposited with two banks.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(14) 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 20.5. The provisions of the 401(k) Plan provide for both employee and employer contributions. For the years ended December 31, 2015, 2014 and 2013, Wilson Bank contributed $1,840,000, $1,734,000 and $1,612,000, respectively, to the 401(k) Plan.

(15) 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 72,543 in 2015, 69,289 in 2014 and 73,411 in 2013 were sold to participants under the terms of the DRIP.

(16) Regulatory Matters and Restrictions on Dividends

The Company and Wilson Bank are subject to regulatory capital requirements administered by the FDIC, the Federal Reserve and the Tennessee Department of Financial Institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Wilson Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Wilson Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Wilson Bank to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of December 31, 2015 and 2014, that the Company and Wilson Bank meet all capital adequacy requirements to which they are subject.

As of December 31, 2015, the most recent notification from the FDIC categorized Wilson Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the notification that management believes have changed Wilson Bank’s category. To be categorized as well capitalized as of December 31, 2015 and 2014, an institution must have maintained minimum capital ratios as set forth in the following tables and not have been subject to a written agreement, order or directive to maintain a higher capital level. The Company’s and Wilson Bank’s actual capital amounts and ratios as of December 31, 2015 and 2014, are also presented in the table:

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2015
Total capital to risk weighted assets:
Consolidated	$	240,848	14.1	%	$	136,588	8.0	%	$	170,736	10.0	%
Wilson Bank	238,963		14.0		136,575		8.0		170,719		10.0
Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		102,441		6.0		136,588		8.0
Wilson Bank	217,600		12.8		102,431		6.0		136,575		8.0
Common equity Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		76,831		4.5		110,978		6.5
Wilson Bank	217,600		12.8		76,823		4.5		110,967		6.5
Tier 1 capital to average assets:
Consolidated	219,483		11.1		79,361		4.0		N/A		N/A
Wilson Bank	217,600		11.0		79,354		4.0		99,192		5.0

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2014
Total capital to risk weighted assets:
Consolidated	$	214,779	15.0	%	$	114,549	8.0	%	$	143,186	10.0	%
Wilson Bank	213,447		14.9		114,602		8.0		143,253		10.0
Tier 1 capital to risk weighted assets:
Consolidated	196,765		13.7		57,450		4.0		86,174		6.0
Wilson Bank	195,433		13.6		57,480		4.0		86,220		6.0
Tier 1 capital to average assets:
Consolidated	196,765		10.6		74,251		4.0		N/A		N/A
Wilson Bank	195,433		10.5		74,451		4.0		93,063		5.0

In July 2013, the Federal banking regulators, in response to the Statutory Requirements of The Dodd-Frank Wall Street Reform and Consumer Protection Act, adopted new regulations implementing the Basel Capital Adequacy Accord (“Basel III”) and the related minimum capital ratios. The new capital requirements were effective beginning January 1, 2015 and include a new “Common Equity Tier I Ratio”, which has stricter rules as to what qualifies as Common Equity Tier I Capital. A summary of the changes to the Regulatory Capital Ratios are as follows:

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	Guideline in Effect At 12/31/2014				Basel III Requirements
	Minimum		Well Capitalized		Minimum		Well Capitalized
Common Equity Tier I Ratio (Common Equity to Risk Weighted Assets)	Not Applicable		Not Applicable		4.5	%	6.5	%
Tier I Capital to Risk Weighted Assets	4	%	6	%	6	%	8	%
Total Capital to Risk Weighted Assets	8	%	10	%	8	%	10	%
Tier I Leverage Ratio	4	%	5	%	4	%	5	%

The guidelines under Basel III establish a 2.5% capital conservation buffer requirement that is phased in over four years beginning January 1, 2016. The buffer is related to Risk Weighted Assets. The Basel III minimum requirements after giving effect to the buffer are as follows:

	2016		2017		2018		2019
Common Equity Tier I Ratio	5.125	%	5.75	%	6.375	%	7.0	%
Tier I Capital to Risk Weighted Assets Ratio	6.625	%	7.25	%	7.875	%	8.5	%
Total Capital to Risk Weighted Assets Ratio	8.625	%	9.25	%	9.875	%	10.5	%

In order to avoid limitations on capital distributions such as dividends and certain discretionary bonus payments to executive officers, a banking organization must maintain capital ratios above the minimum ratios including the buffer.

The requirements of Basel III also place additional restrictions on the inclusion of deferred tax assets and capitalized mortgage servicing rights as a percentage of Tier I Capital. In addition, the risk weights assigned to certain assets such as past due loans and certain real estate loans have been increased.

The requirements of Basel III allow banks and bank holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and Wilson Bank have chosen to opt out of this requirement.

(17) Salary Deferral Plans

Wilson Bank provides its executive officers an Executive Salary Continuation Plan, which also provides for death and disability benefits. The Executive Salary Continuation Plan was 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 Executive Salary Continuation Plan provides retirement benefits for a period of 180 months after the employee reaches the age of 65 and/or age 55 after 20 years of service. The Executive Salary Continuation Plan also provides benefits over a period of fifteen years in the event the executive should die or become disabled prior to reaching retirement. Wilson Bank has purchased insurance policies or other assets to provide the benefits listed above. The insurance policies and other assets remain the sole property of Wilson Bank and are payable to Wilson Bank. At December 31, 2015 and 2014, the salary deferral compensation liability totaled $1,872,000 and $1,878,000, respectively, the cash surrender value of life insurance was $3,376,000 and $3,024,000, respectively, and the face amount of the insurance policies in force approximated $10,508,000 and $9,984,000, respectively. The Executive Salary Continuation Plan is not qualified under Section 401 of the Internal Revenue Code.

During November 2012 and May 2015, the Company amended its Executive Salary Continuation Plan effectively freezing accrued benefits so that no additional benefits will be accrued under the existing Executive Salary Continuation Plan. The frozen disability benefit will be paid until the applicable executive’s normal retirement age at which time such benefit will be reduced to the normal retirement benefit provided for under the applicable Executive Salary Continuation Plan agreement for the remaining benefit period.

In November 2012 and May 2015, Supplemental Executive Retirement Plan (SERP) Agreements were entered into with Wilson Bank’s executive officers to provide certain supplemental nonqualified pension benefits to the executives in coordination with the freezing of the benefits under the executive’s Salary Continuation Agreement. The SERP Agreements when combined with the frozen Salary Continuation Agreements continue to provide the executives with the same benefits

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

as provided under the Salary Continuation Agreements for the 180-month period provided for thereunder and then continue a portion of that benefit for the remainder of each of the executives’ lives. In November 2012 and May 2015, Wilson Bank purchased Flexible Premium Indexed Deferred Annuity Contracts in the amount of $3,809,000 and $3,798,000 to fund the benefits under the SERP Agreements. The Salary Continuation Agreements, as amended, and the SERP Agreements together provide for the payment of an annual cash benefit to each of the executives (or their beneficiaries) following the executive’s separation from service from Wilson Bank under a variety of circumstances including both the executive’s voluntary termination of the executive’s employment with Wilson Bank and the involuntary termination of the executive by Wilson Bank without cause. The payments are made partially from the frozen Salary Continuation Agreements and partially from the SERP Agreements for the periods ranging from 180 months to life following an executive’s termination of service. At December 31, 2015 and 2014, the value of the Flexible Indexed Annuity Contracts totaled $8,939,000 and $3,987,000 and the salary deferral compensation liability totaled $1,161,000 and $697,000, respectively.

The Company purchased insurance policies during 2015 and 2014 to provide death benefits as provided for in the plans. The insurance policies remain the sole property of the Company and are payable to the Company. The cash surrender value of life insurance totaled $14,357,000 and $10,320,000 and the face amount of the insurance policies in force approximated $35,471,000 and $26,090,000 at December 31, 2015 and 2014, respectively.

(18) Stock Option Plan

In April 1999, the stockholders of the Company approved the Wilson Bank Holding Company 1999 Stock Option Plan (the “1999 Stock Option Plan”). The Stock Option Plan provides for the granting of stock options, and authorizes the issuance of common stock upon the exercise of such options, for up to 200,000 shares of common stock, to officers and other key employees of the Company and its subsidiary. Furthermore, the Company and its subsidiary may reserve additional shares for issuance under the 1999 Stock Option Plan as needed in order that the aggregate number of shares that may be issued during the term of the 1999 Stock Option Plan is equal to five percent (5%) of the shares of common stock then issued and outstanding.

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 is effective as of April 14, 2009 and replaces the 1999 Stock Option Plan which expired on April 13, 2009. Under the 2009 Stock Option Plan, awards may 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 may be granted under the 2009 Stock Option Plan is 75,000 shares. As of December 31, 2015, the Company has granted 41,000 options to employees pursuant to the 2009 Stock Option Plan.

Under the 2009 Stock Option Plan, stock option awards may be granted in the form of incentive stock options or nonstatutory stock options and are generally exercisable for up to ten years following the date such option awards are granted. Exercise prices of incentive stock options must be equal to or greater than 100% of the fair market value of the common stock on the grant date.

The fair value of each 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 2015, 2014 and 2013:

	2015		2014		2013
Expected dividends	1.00	%	1.11	%	1.12	%
Expected term (in years)	8.96		9.33		9.56
Expected volatility	22	%	23	%	25	%
Risk-free rate	2.02	%	2.62	%	2.04	%

The expected 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 assumption is based on the Company’s history and expectation of dividend payouts.

A summary of the stock option activity for 2015, 2014 and 2013 is as follows:

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	2015				2014				2013
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of year	43,569		$	38.03	47,654		$	36.43	48,987		$	34.24
Granted	3,250		48.30		3,250		45.75		5,500		44.16
Exercised	(7,633	)	31.58		(6,144	)	30.24		(5,973	)	26.00
Forfeited or expired	(1,767	)	37.63		(1,191	)	35.36		(860	)	33.07
Outstanding at end of year	37,419		$	40.25	43,569		$	38.03	47,654		$	36.43
Options exercisable at year end	9,814		$	38.06	12,064		$	34.59	12,009		$	32.35

The following table summarizes information about stock options outstanding at December 31, 2015:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Number Exercisable at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term
$ 26.63 - $ 35.75	5,946		33.21	2.03 years	2,853		33.44	1.97 years
$ 37.75 - $ 48.95	31,473		41.58	5.91 years	6,961		39.96	4.92 years
	37,419				9,814
Aggregate intrinsic value (in thousands)	$	370			$	119

The weighted average fair value at the grant date of options granted during the years 2015, 2014 and 2013 was $12.72, $13.41 and $13.03, respectively. The total intrinsic value of options exercised during the years 2015, 2014 and 2013 was $129,000, $99,000 and $109,000, respectively.

As of December 31, 2015, there was $234,000 of total unrecognized cost related to non-vested share-based compensation arrangements granted under the Company’s stock option plans. The cost is expected to be recognized over a weighted-average period of 6.5 years.

(19) Earnings Per Share

The following is a summary of the components comprising basic and diluted earnings per share (“EPS”):

	In Thousands (except share data)
	2015		2014		2013
Basic EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator - Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Basic earnings per common share	$	3.13	2.75		2.12
Diluted EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator:
Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Dilutive effect of stock options	3,527		4,393		4,798
	7,627,635		7,551,480		7,477,171
Diluted earnings per common share	$	3.13	$	2.75	$	2.12

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(20) 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.

Assets

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.

Impaired loans—A loan is considered to be impaired when it is probable the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may be established as a component of the allowance for loan losses or the expense is recognized as a charge-off. Impaired loans are classified within Level 3 of the 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 foreclosure, 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 loan 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 expense, as applicable. 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.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

Other assets—Included in other assets are certain assets carried at fair value, including the cash surrender value of bank owned life insurance policies and annuity contracts. The Company uses financial information received from insurance carriers indicating the performance of the insurance policies and cash surrender values in determining the carrying value of life insurance. The Company reflects these assets within Level 3 of the valuation hierarchy due to the unobservable inputs included in the valuation of these items. The Company does not consider the fair values of these policies to be materially sensitive to changes in these unobservable inputs.

Mortgage 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.

The following tables present the financial instruments carried at fair value as of December 31, 2015 and December 31, 2014, 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, 2015
Investment securities available-for-sale:
U.S. Government sponsored enterprises	$	76,909	—	76,909	—
Mortgage-backed securities	191,915		—	191,915	—
Asset-backed securities	31,034		—	31,034	—
State and municipal securities	31,270		—	31,270	—
Total investment securities available-for-sale	331,128		—	331,128	—
Loans Held for Sale	10,135		—	10,135	—
Other assets	26,672		—	—	26,672
Total assets at fair value	$	367,935	—	341,263	26,672

	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, 2014
Investment securities available-for-sale:
U.S. Government sponsored enterprises and agency-backed	$	130,567	—	130,567	—
Mortgage-backed securities	171,069		—	171,069	—
Asset-backed securities	30,520		—	30,520	—
State and municipal securities	14,264		—	14,264	—
Total investment securities available-for-sale	346,420		—	346,420	—
Loans held for sale	9,466		—	9,466	—
Other assets	17,331		—	—	17,331
Total assets at fair value	$	373,217	—	355,886	17,331

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

	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, 2015
Other real estate owned	$	5,410	—	—	5,410
Impaired loans, net (¹)	8,436		—	—	8,436
Total	$	13,846	—	—	13,846
December 31, 2014
Other real estate owned	$	7,298	—	—	7,298
Impaired loans, net (¹)	8,945		—	—	8,945
Total	$	16,243	—	—	16,243

(1) Amount is net of a valuation allowance of $194,000 at December 31, 2015 and $1,631,000 at December 31, 2014 as required by ASC 310, “Receivables.”

In the case of the bond 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, 2015, 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, 2015 and 2014 (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,
	2015			2014
	Other Assets		Other Liabilities	Other Assets		Other Liabilities
Fair value, January 1	$	17,331	—	$	11,390	—
Total realized gains included in income	877		—	376		—
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	—		—	—		—
Purchases, issuances and settlements, net	8,464		—	5,565		—
Transfers out of Level 3	—		—	—		—
Fair value, December 31	$	26,672	—	$	17,331	—
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	$	877	—	$	376	—

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, 2015 and December 31, 2014. 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.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

Held-to-maturity securities—Estimated fair values for investment securities are based on quoted market prices where available. 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.

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, impaired 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 impaired 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.

Deposits and Securities sold under agreements to repurchase—The carrying amounts of demand deposits, savings deposits and securities sold under agreements to repurchase, approximate their fair values. Fair values for certificates of deposit are estimated using discounted cash flow models, using current market interest rates offered on certificates 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, 2015 and December 31, 2014. 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.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(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, 2015
Financial assets:
Securities held-to-maturity	$	28,195	28,365	—	28,365	—
Loans, net	1,443,179		1,443,738	—	—	1,443,738
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,791,885		1,549,414	—	—	1,549,414
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—
December 31, 2014
Financial assets:
Securities held-to-maturity	$	28,123	28,400	—	28,400	—
Loans, net	1,329,865		1,346,569	—	—	1,346,569
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,663,707		1,530,607	—	—	1,530,607
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—

(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.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(21) Wilson BankHolding Company -

Parent Company Financial Information

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Balance Sheets

December 31, 2015 and 2014

	Dollars In Thousands
	2015				2014
ASSETS
Cash	$	1,685		*	1,120		*
Investment in wholly-owned commercial bank subsidiary	221,555				199,560
Refundable income taxes	198				212
Total assets	$	223,438			200,892
LIABILITIES AND STOCKHOLDERS’ EQUITY
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	$	15,304			15,144
Additional paid-in capital	61,339				57,709
Retained earnings	147,646				128,718
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively	(851		)		(679	)
Total stockholders’ equity	223,438				200,892
Total liabilities and stockholders’ equity	$	223,438			200,892

* Eliminated in consolidation.

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Earnings and Comprehensive Earnings

Three Years Ended December 31, 2015

	Dollars In Thousands
	2015				2014			2013
Expenses:
Directors’ fees	$	350			351			337
Other	152				191			83
Loss before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary	(502		)		(542	)		(420	)
Federal income tax benefits	198				212			173
	(304		)		(330	)		(247	)
Equity in undistributed earnings of commercial bank subsidiary	24,167			*	21,107		*	16,116		*
Net earnings	23,863				20,777			15,869
Other comprehensive earnings (losses), net of tax:
Net unrealized gains (losses) on available-for-sale- securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively	(58		)		3,953			(6,820	)
Reclassification adjustments for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively	(114		)		(336	)		(48	)
Other comprehensive earnings (losses)	(172		)		3,617			(6,868	)
Comprehensive earnings	$	23,691			24,394			9,001

* Eliminated in consolidation

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Changes in Stockholders’ Equity

Three Years Ended December 31, 2015

	Dollars In Thousands
	Common Stock			Additional Paid-In Capital		Retained Earnings		Net Unrealized Gain (Loss) On Available-For-Sale Securities		Total
Balance December 31, 2012	$	14,838		51,242		101,046		2,572		169,698
Cash dividends declared, $.60 per share	—			—		(4,464	)	—		(4,464	)
Issuance of 73,411 shares of stock pursuant to dividend reinvestment plan	147			3,101		—		—		3,248
Issuance of 5,973 shares of stock pursuant to exercise of stock options	12			144		—		—		156
Share based compensation expense	—			32		—		—		32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261	—			—		—		(6,868	)	(6,868	)
Net earnings for the year	—			—		15,869		—		15,869
Balance December 31, 2013	14,997			54,519		112,451		(4,296	)	177,671
Cash dividends declared, $.60 per share	—			—		(4,510	)	—		(4,510	)
Issuance of 69,289 shares of stock pursuant to dividend reinvestment plan	139			3,065		—		—		3,204
Issuance of 6,144 shares of stock pursuant to exercise of stock options	12			174		—		—		186
Share based compensation expense	—			41		—		—		41
Net change in fair value of available-for-sale securities during the year, net of taxes of $2,245	—			—		—		3,617		3,617
Repurchase of 2,053 common shares	(4		)	(90	)					(94	)
Net earnings for the year	—			—		20,777		—		20,777
Balance December 31, 2014	15,144			57,709		128,718		(679	)	200,892
Cash dividends declared, $.65 per share	—			—		(4,935	)	—		(4,935	)
Issuance of 72,543 shares of stock pursuant to dividend reinvestment plan	145			3,366		—		—		3,511
Issuance of 7,633 shares of stock pursuant to exercise of stock options	15			226		—		—		241
Share based compensation expense	—			38		—		—		38
Net change in fair value of available-for-sale securities during the year, net of taxes of $106	—			—		—		(172	)	(172	)
Net earnings for the year	—			—		23,863		—		23,863
Balance December 31, 2015	$	15,304		61,339		147,646		(851	)	223,438

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars In Thousands
	2015			2014		2013
Cash flows from operating activities:
Cash paid to suppliers and other	$	(464	)	(501	)	(388	)
Tax benefits received	212			173		173
Net cash used in operating activities	(252		)	(328	)	(215	)
Cash flows from investing activities:
Dividends received from commercial bank subsidiary	2,000			—		2,600
Net cash provided by investing activities	2,000			—		2,600
Cash flows from financing activities:
Dividends paid	(4,935		)	(4,510	)	(4,464	)
Proceeds from sale of stock pursuant to dividend reinvestment	3,511			3,204		3,248
Proceeds from exercise of stock options	241			186		156
Common shares repurchased	—			(94	)	—
Net cash used in financing activities	(1,183		)	(1,214	)	(1,060	)
Net increase (decrease) in cash and cash equivalents	565			(1,542	)	1,325
Cash and cash equivalents at beginning of year	1,120			2,662		1,337
Cash and cash equivalents at end of year	$	1,685		1,120		2,662

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows, Continued

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars in Thousands
	2015			2014		2013
Reconciliation of net earnings to net cash used in operating activities:
Net earnings	$	23,863		20,777		15,869
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of commercial bank subsidiary	(24,167		)	(21,107	)	(16,116	)
Decrease (increase) in refundable income taxes	14			(39	)	—
Share based compensation expense	38			41		32
Total adjustments	(24,115		)	(21,105	)	(16,084	)
Net cash used in operating activities	$	(252	)	(328	)	(215	)

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(22) 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)
	2015					2014					2013
	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter	Third Quarter	Second Quarter	First Quarter
Interest income	$	20,213	19,982	19,617	19,027	$	19,180	18,980	18,286	17,934	18,315	17,930	17,749	17,820
Net interest income	18,126		17,868	17,426	16,811	16,783		16,554	15,849	15,426	15,704	15,263	15,001	14,967
Provision for loan losses	123		109	81	75	134		87	28	249	15	738	755	669
Earnings before income taxes	8,720		9,862	9,889	9,154	8,888		8,772	8,503	6,924	6,514	7,115	6,684	4,862
Net earnings	5,958		6,088	6,201	5,616	6,100		5,351	5,154	4,172	4,163	4,481	4,247	2,978
Basic earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.56	0.60	0.57	0.40
Diluted earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.55	0.60	0.57	0.40

WILSON BANK HOLDING COMPANY

Notes to Consolidated Financial Statements, Continued

December 31, 2015, 2014 and 2013

(23) Subsequent Events

ASC Topic 855, Subsequent Events, as amended by ASU No. 2010-90, establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. The Company evaluated all events or transactions that occurred after December 31, 2015, through the date of the issued financial statements. During this period there were no material recognizable subsequent events that required recognition in our disclosures to the December 31, 2015 financial statements.

This financial information has not been reviewed for accuracy or relevance by the FDIC.

EX-21.1

EXHIBIT 21.1

SUBSIDIARIES OF THE ISSUER

The Company has a wholly-owned subsidiary, Wilson Bank and Trust, a state chartered bank incorporated under the laws of the State of Tennessee and doing business under the same name.

EX-23.1

EXHIBIT 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the Registration Statement (Form S-8, No. 333-32442) pertaining to the Wilson Bank Holding Company 1999 Stock Option Plan, the Registration Statement (Form S-3, No. 333-81984) pertaining to the Wilson Bank Holding Company Dividend Reinvestment Plan and the Registration Statement (Form S-8, No. 333-158621) pertaining to the Wilson Bank Holding Company 2009 Stock Option Plan of our reports dated January 25, 2016, with respect to the consolidated financial statements of Wilson Bank Holding Company and with respect to the effectiveness of internal control over financial reporting of Wilson Bank Holding Company, included in this Annual Report on Form 10-K for the year ended December 31, 2015.

/s/ Maggart & Associates, P.C.

MAGGART & ASSOCIATES, P.C.

Nashville, Tennessee

March 14, 2016

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

I, J. Randall Clemons, certify that:
1.	I have reviewed this annual report on Form 10-K of Wilson Bank Holding Company;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):
	(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: March 14, 2016
		By:/s/ J. Randall Clemons
		Name: J. Randall Clemons
		President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATIONS

I, Lisa Pominski , certify that:
1.	I have reviewed this annual report on Form 10-K of Wilson Bank Holding Company;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):
	(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: March 14, 2016
		By:/s/ Lisa Pominski
		Name: Lisa Pominski
		Senior Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Wilson Bank Holding Company (the “Company”) on Form 10-K for the period ended December 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Randall Clemons, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ J. Randall Clemons

Randall Clemons

President and Chief Executive Officer

Date: March 14, 2016

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Wilson Bank Holding Company (the “Company”) on Form 10-K for the period ended December 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lisa Pominski, Senior Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Lisa Pominski

Lisa Pominski, Senior Vice President and Chief

Financial Officer

Date: March 14, 2016

XML

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 14, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Trading Symbol	WBHC
Entity Registrant Name	WILSON BANK HOLDING CO
Entity Central Index Key	0000885275
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,692,627
Entity Public Float			$ 338,143,418

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Loans, net of allowance for loan losses of $22,900 and $22,572, respectively	$ 1,443,179	$ 1,329,865
Held-to-maturity, at amortized cost (market value $28,365 and $28,400, respectively)	28,195	28,123
Available-for-sale, at market (amortized cost $332,506 and $347,520, respectively)	331,128	346,420
Total securities	359,323	374,543
Loans held for sale	10,135	9,466
Federal funds sold	35,220	16,005
Restricted equity securities, at cost	3,012	3,012
Total earning assets	1,850,869	1,732,891
Cash and due from banks	74,033	52,002
Premises and equipment, net	42,100	40,123
Accrued interest receivable	5,244	5,463
Deferred income taxes	8,039	9,171
Other real estate	5,410	7,298
Bank owned life insurance and annuity contracts	26,672	17,331
Goodwill	4,805	4,805
Other assets	4,432	4,158
Total assets	2,021,604	1,873,242
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits	1,789,850	1,660,270
Securities sold under repurchase agreements	2,035	3,437
Accrued interest and other liabilities	6,281	8,643
Total liabilities	1,798,166	1,672,350
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	15,304	15,144
Additional paid-in capital	61,339	57,709
Retained earnings	147,646	128,718
Net unrealized losses on available-for-sale securities, net of taxes of $527 and $421, respectively	(851)	(679)
Total stockholders’ equity	$ 223,438	$ 200,892
COMMITMENTS AND CONTINGENCIES
Total liabilities and stockholders’ equity	$ 2,021,604	$ 1,873,242

XML

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 22,900	$ 22,572
Held-to-maturity, market value	28,365	28,400
Available-for-sale, amortized cost	$ 332,506	$ 347,520
Common stock, par value (in dollars per share)	$ 2.00	$ 2.00
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	7,652,144	7,571,968
Common stock, shares outstanding	7,652,144	7,571,968
Net unrealized losses on available-for-sale securities, income taxes	$ 527	$ 421

XML

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Interest and fees on loans	$ 71,543	$ 66,685	$ 66,177
Interest and dividends on securities:
Taxable securities	5,868	6,464	4,411
Exempt from Federal income taxes	768	679	603
Interest on loans held for sale	385	263	258
Interest on Federal funds sold	154	167	215
Interest and dividends on restricted equity securities	121	122	150
Total interest income	78,839	74,380	71,814
Interest expense:
Interest on negotiable order of withdrawal accounts	1,515	1,587	1,589
Interest on money market accounts and other savings accounts	1,906	2,366	2,407
Interest on certificates of deposit and individual retirement accounts	5,179	5,791	6,832
Interest on securities sold under repurchase agreements	7	23	50
Interest on Federal funds purchased	1	1	1
Total interest expense	8,608	9,768	10,879
Net interest income before provision for loan losses	70,231	64,612	60,935
Provision for loan losses	388	498	2,177
Net interest income after provision for loan losses	69,843	64,114	58,758
Non-interest income	19,941	16,678	15,204
Non-interest expense	(52,159)	(47,705)	(48,787)
Earnings before income taxes	37,625	33,087	25,175
Income taxes	13,762	12,310	9,306
Net earnings	$ 23,863	$ 20,777	$ 15,869
Basic earnings per common share (in dollars per share)	$ 3.13	$ 2.75	$ 2.12
Diluted earnings per common share (in dollars per share)	$ 3.13	$ 2.75	$ 2.12
Weighted average common shares outstanding:
Basic (in shares)	7,624,108	7,547,087	7,472,373
Diluted (in shares)	7,627,635	7,551,480	7,477,171

XML

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net earnings	$ 5,958	$ 6,088	$ 6,201	$ 5,616	$ 6,100	$ 5,351	$ 5,154	$ 4,172	$ 4,163	$ 4,481	$ 4,247	$ 2,978	$ 23,863	$ 20,777	$ 15,869
Other comprehensive earnings, net of tax:
Net unrealized gains (losses) on available-for-sale securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively													(58)	3,953	(6,820)
Reclassification adjustment for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively													(114)	(336)	(48)
Other comprehensive earnings (losses)													(172)	3,617	(6,868)
Comprehensive earnings													$ 23,691	$ 24,394	$ 9,001

XML

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Unrealized gains (losses) on available-for-sale securities arising during period, taxes	$ 35	$ 2,454	$ 4,231
Reclassification adjustment for net gains included in net earnings, taxes	$ 71	$ 209	$ 30

XML

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Net Unrealized Gain (Loss) On Available-For-Sale Securities
Beginning balance at Dec. 31, 2012	$ 169,698	$ 14,838	$ 51,242	$ 101,046	$ 2,572
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively	(4,464)			(4,464)
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively	3,248	147	3,101
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively	156	12	144
Share based compensation expense	32		32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively	(6,868)				(6,868)
Net earnings for the year	15,869			15,869
Ending balance at Dec. 31, 2013	177,671	14,997	54,519	112,451	(4,296)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively	(4,510)			(4,510)
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively	3,204	139	3,065
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively	186	12	174
Share based compensation expense	41		41
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively	3,617				3,617
Repurchase of 2,053 common shares	(94)	(4)	(90)
Net earnings for the year	20,777			20,777
Ending balance at Dec. 31, 2014	200,892	15,144	57,709	128,718	(679)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively	(4,935)			(4,935)
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively	3,511	145	3,366
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively	241	15	226
Share based compensation expense	38		38
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively	(172)				(172)
Net earnings for the year	23,863			23,863
Ending balance at Dec. 31, 2015	$ 223,438	$ 15,304	$ 61,339	$ 147,646	$ (851)

XML

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Net change in fair value of available-for-sale securities, tax	$ (106)	$ 2,245	$ (4,261)
Repurchase of common shares		2,053
Common Stock
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Additional Paid-In Capital
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Retained Earnings
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Net Unrealized Gain (Loss) On Available-For-Sale Securities
Net change in fair value of available-for-sale securities, tax	$ (106)	$ 2,245	$ (4,261)

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Interest received	$ 81,054	$ 75,937	$ 75,201
Fees and other income received	15,346	13,269	11,816
Proceeds from sales of loans	157,261	105,414	121,055
Origination of loans held for sale	(153,882)	(105,078)	(109,131)
Interest paid	(8,728)	(9,964)	(11,396)
Cash paid to suppliers and employees	(51,474)	(45,890)	(41,968)
Income taxes paid	(13,937)	(12,277)	(8,413)
Net cash provided by operating activities	25,640	21,411	37,164
Cash flows from investing activities:
Purchase of available-for-sale securities	(125,000)	(171,497)	(109,662)
Proceeds from calls, maturities and paydowns of available-for-sale securities	95,620	86,946	76,811
Proceeds from sale of available-for-sale securities	42,845	72,215	6,867
Purchase of held-to-maturity securities	(4,413)	(3,610)	(14,250)
Proceeds from maturities and paydowns of held-to-maturity securities	4,079	2,049	2,749
Loans made to customers, net of repayments	(114,456)	(144,410)	(48,636)
Purchase of bank owned life insurance and annuity contracts	(8,464)	(5,565)	(5,000)
Purchase of bank premises and equipment	(4,612)	(4,145)	(4,074)
Proceeds from sale of other assets	12	4	51
Proceeds from sale of other real estate	3,000	3,945	5,053
Net cash used in investing activities	(111,389)	(164,068)	(90,091)
Cash flows from financing activities:
Net increase in non-interest bearing, savings, NOW and money market deposit accounts	160,760	147,458	95,320
Net decrease in time deposits	(31,180)	(41,443)	(34,987)
Net decrease in securities sold under agreements to repurchase	(1,402)	(5,641)	(1,506)
Dividends paid	(4,935)	(4,510)	(4,464)
Proceeds from sale of common stock pursuant to dividend reinvestment	3,511	3,204	3,248
Proceeds from sale of common stock pursuant to exercise of stock options	241	186	156
Repurchase of common shares	0	(94)	0
Net cash provided by financing activities	126,995	99,160	57,767
Net increase (decrease) in cash and cash equivalents	41,246	(43,497)	4,840
Cash and cash equivalents at beginning of year	68,007	111,504	106,664
Cash and cash equivalents at end of year	109,253	68,007	111,504
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	23,863	20,777	15,869
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and accretion	4,578	4,162	4,787
Provision for loan losses	388	498	2,177
Share based compensation expense	38	41	32
Provision for deferred tax expense	1,238	634	1,068
Write downs and loss (gains) on sales of other real estate, net	(362)	(77)	1,642
Loss on sales of other assets	2	6	3
Loss (gain) on sale of premises and equipment	53	(7)	(12)
Security gains	(185)	(545)	(78)
Decrease (increase) in loans held for sale	(669)	(2,444)	8,626
Decrease in taxes payable	(1,413)	(601)	(175)
Decrease (increase) in other assets	(1,161)	(1,297)	1,337
Decrease (increase) in accrued interest receivable	219	(400)	363
Decrease in interest payable	(120)	(196)	(517)
Increase (decrease) in accrued expenses	(829)	860	2,042
Total adjustments	1,777	634	21,295
Net cash provided by operating activities	25,640	21,411	37,164
Supplemental Schedule of Non-Cash Activities:
Unrealized gain (loss) in value of securities available-for-sale, net of taxes of $106 in 2015, $2,245 in 2014, and $4,261 in 2013	(172)	3,617	(6,868)
Non-cash transfers from loans to other real estate	1,930	799	5,539
Non-cash transfers from other real estate to loans	1,180	2,502	1,282
Non-cash transfers from loans to other assets	$ 4	$ 17	$ 46

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Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Unrealized loss in values of securities available-for-sale, net of taxes	$ 106	$ 2,245	$ 4,261

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

The accounting and reporting policies of Wilson Bank Holding Company (“the Company”) and Wilson Bank & Trust (“Wilson Bank”) are in accordance with accounting principles generally accepted in the United States of America (“U.S.”) 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 and its wholly-owned subsidiary Wilson Bank. 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 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, and eastern Davidson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at the main office and twenty-five branch locations.

(c) Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States (“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 loan losses, the valuation of deferred tax assets and other real estate, other-than-temporary impairments of securities, 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.

Residential 1-4 family, commercial real estate and construction mortgage loans, represented 24%, 43% and 19% and 26%, 42% and 18% of the loan portfolio at December 31, 2015 and 2014, respectively.

(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 loan losses, and any unamortized deferred fees or costs on originated loans, and premiums or discounts on purchased loans.

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 our 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 our independent loan review department. Risk ratings are categorized as pass, special mention, substandard or doubtful. The Company believes that our categories follow those outlined by our primary 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 Loan Losses

Management provides for loan losses by establishing an allowance. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s quarterly review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.

In assessing the adequacy of the allowance, we also consider the results of our ongoing independent loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, independent loan reviewers, and reviews that may have been conducted by third-party reviewers. We incorporate relevant loan review results in the loan impairment determination. In addition, regulatory agencies, as an integral part of their examination process, will periodically review the Company’s allowance for loan losses and may require the Company to record adjustments to the allowance based on their judgment about information available to them at the time of their examinations.

In addition to the independent loan review process, the aforementioned risk ratings are subject to continual review by loan officers to determine that the appropriate risk ratings are being utilized in our allowance for loan loss process. Each risk rating is also subject to review by our independent loan review department. Currently, our independent loan review department targets reviews of 100% of existing loan relationships with aggregate debt of $1.0 million and greater and new loans with aggregate debt of $500,000 and greater. In addition, our loan review targets portfolio segments, loans assigned to a particular lending officer, and loans with four or more renewals.

The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are individually classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and other adjustments based on management’s assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial, mortgage and agricultural loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent.

Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment disclosures, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower.

(g) Debt and Equity 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 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.

Other-than-temporary Impairment—Impaired securities are assessed quarterly for the presence of other-than-temporary impairment (“OTTI”). A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in a reduction in the carrying amount of the security. To determine whether OTTI has occurred, management considers factors such as (1) length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospectus of the issuer, and (3) the Bank’s ability and intent to hold the security for a period sufficient to allow for any anticipated recovery in fair value. If management deems a security to be OTTI, management reviews the present value of the future cash flows associated with the security. A shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is referred to as a credit loss. If a credit loss is identified, the credit loss is recognized as a charge to earnings and a new cost basis for the security is established. If management concludes that no credit loss exists and it is not “more-likely-than-not” that it will be required to sell the security before the recovery of the security’s cost basis, then the security is not deemed OTTI and the shortfall is recorded as a component of equity.

No securities have been classified as trading securities.

(h) Federal Home Loan Bank Stock

The Company, as a member of the Federal Home Loan Bank (“FHLB”) Cincinnati system, is required to maintain an investment in capital stock of the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at par value, which approximates its fair value. Management reviews the investment for impairment based on the ultimate recoverability of the cost basis in the FHLB stock. As of December 31, 2015, the minimum required investment was approximately $2,235,000. Stock redemptions are at the discretion of the FHLB.

(i) 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.

(j) 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. 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.

(k) Other Real Estate

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 of foreclosure, 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 in net expenses from foreclosed assets.

(l) Intangible Assets

The Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 350, Goodwill and Other Intangible Assets requires that management determine the allocation of intangible assets into identifiable groups at the date of acquisition and that appropriate amortization periods be established. Under the provisions of FASB ASC 350, goodwill is not to be amortized; rather, it is to be monitored for impairment and written down to the impairment value at the time impairment occurs. The Company has determined that no impairment loss needs to be recognized related to its goodwill.

(m) Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, 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.

(n) 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.

(o) Securities Sold Under Agreements to Repurchase

Substantially all repurchase agreement liabilities represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by Federal deposit insurance.

(p) 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 or excess of deductions over revenues. 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.

(q) Stock Options

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, share appreciation rights, and employee share purchase plans.

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.

(r) Advertising Costs

Advertising costs are expensed as incurred by the Company and totaled $2,337,000, $1,884,000 and $2,104,000 for 2015, 2014 and 2013, respectively.

(s) 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.

(t) 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 20 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.

(u) Reclassification

Certain reclassifications have been made to the 2014 and 2013 figures to conform to the presentation for 2015.

(v) 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.

(w) Recently Adopted Accounting Pronouncements

In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” which provides disclosure guidance on amounts reclassified out of Accumulated Other Comprehensive Income by component. The adoption of this ASU did not have any impact on the Company’s financial position or results of operations but has impacted our financial statement disclosure.

In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40); Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, to reduce the diversity in reporting when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. As of December 31, 2015, the Company had no loans that met the above stated criteria. The total amount of foreclosed residential real property amounted to $550,000 and $456,000 at December 31, 2015 and December 31, 2014, respectively.

There were no other recently issued accounting pronouncements that are expected to materially impact the Company.

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Loans and Allowance for Loan Losses

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Loans and Allowance for Loan Losses

Loans and Allowance for Loan Losses

The classification of loans at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Mortgage loans on real estate:
Residential 1-4 family	$	349,631		350,758
Multifamily	49,564			31,242
Commercial	625,623			564,965
Construction	275,319			245,830
Farmland	32,114			30,236
Second mortgages	7,551			9,026
Equity lines of credit	46,506			41,496
Total mortgage loans on real estate	1,386,308			1,273,553
Commercial loans	30,537			30,000
Agriculture loans	1,552			1,670
Consumer installment loans:
Personal	40,196			37,745
Credit cards	3,271			3,280
Total consumer installment loans	43,467			41,025
Other loans	9,250			10,530
	1,471,114			1,356,778
Net deferred loan fees	(5,035		)	(4,341	)
Total loans	1,466,079			1,352,437
Less: Allowance for loan losses	(22,900		)	(22,572	)
Loans, net	$	1,443,179		1,329,865

At December 31, 2015, variable rate and fixed rate loans totaled $970,428,000 and $500,686,000, respectively. At December 31, 2014, variable rate and fixed rate loans totaled $863,474,000 and $488,963,000, respectively.

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 $6,576,000 and $11,744,000 at December 31, 2015 and 2014, 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, 2015.

An analysis of the activity with respect to such loans to related parties is as follows:

	In Thousands
	December 31,
	2015			2014
Balance, January 1	$	11,744		10,821
New loans and renewals during the year	12,329			9,406
Repayments (including loans paid by renewal) during the year	(17,497		)	(8,483	)
Balance, December 31	$	6,576		11,744

During 2013, a director of the Company performed appraisals related to certain loan customers. Fees paid to the director for these services totaled $237,000.

(2) Loans and Allowance for Loan Losses, Continued

Risk characteristics relevant to each portfolio segment are as follows:

Construction and land development: 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.

1-4 family residential 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 HELOC: 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.

Multi-family and commercial real estate: Multi-family and commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans, 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

(2) Loans and Allowance for Loan Losses, Continued

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. 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 provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans 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 loan 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.

A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310), when based on current information and events, it is probable that the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. Substantially all of the Company’s impaired loans are collateral dependent.

The following tables, present the Company’s impaired loans at December 31, 2015 and 2014:

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With no related allowance recorded:
Residential 1-4 family	$	633	622	—	724	39
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	5,048	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	431	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,796	7,778	—	6,689	160

	In Thousands
	Record Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With allowance recorded:
Residential 1-4 family	$	834	827	194	785	47
Multifamily	—		—	—	—	—
Commercial real estate	—		—	—	3,419	—
Construction	—		—	—	—	—
Farmland	—		—	—	144	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	834	827	194	4,348	47

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
Total:
Residential 1-4 family	$	1,467	1,449	194	1,509	86
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	8,467	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	575	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	8,630	8,605	194	11,037	207

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With no related allowance recorded:
Residential 1-4 family	$	1,891	1,854	—	1,081	114
Multifamily	—		—	—	—	—
Commercial real estate	1,352		2,188	—	5,984	95
Construction	—		—	—	673	—
Farmland	—		—	—	—	—
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	3,524	4,322	—	7,960	212

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With allowance recorded:
Residential 1-4 family	$	1,219	1,207	376	1,363	61
Multifamily	—		—	—	—	—
Commercial real estate	5,131		6,811	1,135	5,755	202
Construction	—		—	—	1,815	—
Farmland	702		701	120	767	7
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,052	8,719	1,631	9,700	270
December 31, 2014
Total:
Residential 1-4 family	$	3,110	3,061	376	2,444	175
Multifamily	—		—	—	—	—
Commercial real estate	6,483		8,999	1,135	11,739	297
Construction	—		—	—	2,488	—
Farmland	702		701	120	767	7
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	10,576	13,041	1,631	17,660	482

The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2015 and 2014.

Loans on Nonaccrual Status

	In Thousands
	2015		2014
Residential 1-4 family	$	41	42
Multifamily	—		—
Commercial real estate	4,293		—
Construction	—		—
Farmland	575		574
Second mortgages	—		—
Equity lines of credit	—		—
Commercial	—		—
Agricultural, installment and other	—		—
Total	$	4,909	616

The amount of interest income that would have been recognized for the years ended December 31, 2015 and 2014 amounted to $291,000 and $39,000, respectively, if the above nonaccrual loans had been current.

Potential problem loans, which include nonperforming loans, amounted to approximately $25.2 million at December 31, 2015 compared to $35.8 million at December 31, 2014. 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 impaired and places the loans on nonaccrual status.

Credit Quality Indicators

	In Thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate	Construction	Farmland	Second Mortgages	Equity Lines of Credit	Commercial	Agricultural, Installment and Other	Total
Credit Risk Profile by Internally Assigned Grade
December 31, 2015
Pass	$	340,019	49,564	612,318	274,926	30,933	7,097	46,361	30,525	54,154	1,445,897
Special mention	6,957		—	8,227	277	200	353	—	10	38	16,062
Substandard	2,655		—	5,078	116	981	101	145	2	77	9,155
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	349,631	49,564	625,623	275,319	32,114	7,551	46,506	30,537	54,269	1,471,114
December 31, 2014
Pass	339,529		31,242	545,301	243,416	29,260	8,007	41,274	29,893	53,048	1,320,970
Special mention	7,681		—	13,313	2,362	57	347	176	18	16	23,970
Substandard	3,548		—	6,351	52	919	672	46	89	161	11,838
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	350,758	31,242	564,965	245,830	30,236	9,026	41,496	30,000	53,225	1,356,778

Age Analysis of Past Due Loans

	In Thousands
	30-59 Days Past Due		60-89 Days Past Due	Nonaccrual and Greater Than 90 Days	Total Nonaccrual and Past Due	Current	Total Loans	Recorded Investment Greater Than 90 Days and Accruing
December 31, 2015
Residential 1-4 family	$	3,272	1,198	1,412	5,882	343,749	349,631	1,371
Multifamily	—		—	—	—	49,564	49,564	—
Commercial real estate	172		—	4,293	4,465	621,158	625,623	—
Construction	958		230	—	1,188	274,131	275,319	—
Farmland	88		21	886	995	31,119	32,114	311
Second mortgages	87		—	4	91	7,460	7,551	4
Equity lines of credit	283		89	197	569	45,937	46,506	197
Commercial	2		—	39	41	30,496	30,537	39
Agricultural, installment and other	382		114	56	552	53,717	54,269	56
Total	5,244		1,652	6,887	13,783	1,457,331	1,471,114	1,978
December 31, 2014
Residential 1-4 family	$	6,166	1,275	1,352	8,793	341,965	350,758	1,310
Multifamily	—		—	—	—	31,242	31,242	—
Commercial real estate	2,151		242	19	2,412	562,553	564,965	19
Construction	125		91	73	289	245,541	245,830	73
Farmland	88		—	594	682	29,554	30,236	20
Second mortgages	286		18	70	374	8,652	9,026	70
Equity lines of credit	346		—	5	351	41,145	41,496	5
Commercial	37		—	—	37	29,963	30,000	—
Agricultural, installment and other	301		126	44	471	52,754	53,225	44
Total	$	9,500	1,752	2,157	13,409	1,343,369	1,356,778	1,541

Transactions in the allowance for loan losses for the years ended December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	Residential 1-4 Family			Multifamily	Commercial Real Estate		Construction		Farmland		Second Mortgages		Equity Lines of Credit		Commercial	Agricultural, Installment and Other		Total
December 31, 2015
Allowance for loan losses:
Beginning balance	$	5,582		172	9,578		5,578		795		61		304		176	326		22,572
Provision	(290		)	447	(267	)	(455	)	(142	)	87		303		118	587		388
Charge-offs	(311		)	—	(44	)	(26	)	—		(45	)	(14	)	—	(664	)	(1,104	)
Recoveries	43			—	719		39		1		3		1		7	231		1,044
Ending balance	$	5,024		619	9,986		5,136		654		106		594		301	480		22,900
Ending balance individually evaluated for impairment	$	194		—	—		—		—		—		—		—	—		194
Ending balance collectively evaluated for impairment	$	4,830		619	9,986		5,136		654		106		594		301	480		22,706
Ending balance loans acquired with deteriorated credit quality	$	—		—	—		—		—		—		—		—	—		—
Loans:
Ending balance	$	349,631		49,564	625,623		275,319		32,114		7,551		46,506		30,537	54,269		1,471,114
Ending balance individually evaluated for impairment	$	1,449		—	4,643		1,938		575		—		—		—	—		8,605
Ending balance collectively evaluated for impairment	$	348,182		49,564	620,980		273,381		31,539		7,551		46,506		30,537	54,269		1,462,509
Ending balance loans acquired with deteriorated credit quality	—			—	—		—		—		—		—		—	—		—

	In thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate		Construction		Farmland	Second Mortgages		Equity Lines of Credit	Commercial		Agricultural, Installment and Other		Total
December 31, 2014
Allowance for loan losses:
Beginning balance	4,935		77	10,918		5,159		618	205		300	395		328		22,935
Provision	1,059		95	(378	)	102		176	(164	)	3	(641	)	246		498
Charge-offs	(468	)	—	(968	)	(7	)	—	—		—	(37	)	(387	)	(1,867	)
Recoveries	56		—	6		324		1	20		1	459		139		1,006
Ending balance	5,582		172	9,578		5,578		795	61		304	176		326		22,572
Ending balance individually evaluated for impairment	376		—	1,135		—		120	—		—	—		—		1,631
Ending balance collectively evaluated for impairment	5,206		172	8,443		5,578		675	61		304	176		326		20,941
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—
Loans:
Ending balance	350,758		31,242	564,965		245,830		30,236	9,026		41,496	30,000		53,225		1,356,778
Ending balance individually evaluated for impairment	3,061		—	6,455		—		701	280		—	—		—		10,497
Ending balance collectively evaluated for impairment	347,697		31,242	558,510		245,830		29,535	8,746		41,496	30,000		53,225		1,346,281
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—

The Company’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring (TDR), where economic 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, 2015 and December 31, 2014 (dollars in thousands):

	2015		2014
Performing TDRs	$	983	5,448
Nonperforming TDRs	3,121		2,592
Total TDRs	$	4,104	8,040

The following table outlines the amount of each troubled debt restructuring categorized by loan classification for the years ended December 31, 2015 and 2014 (dollars in thousands):

	December 31, 2015			December 31, 2014
	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance
Residential 1-4 family	2	77	77	6	1,346	1,218
Multifamily	—	—	—	—	—	—
Commercial real estate	—	—	—	2	1,020	1,020
Construction	1	1,938	1,938	—	—	—
Farmland	—	—	—	—	—	—
Second mortgages	—	—	—	—	—	—
Equity lines of credit	—	—	—	—	—	—
Commercial	—	—	—	1	3	3
Agricultural, installment and other	1	2	1	1	1	1
Total	4	2,017	2,016	10	2,370	2,242

As of December 31, 2015 the Company had two loans totaling $1,060,000 previously classified as troubled debt restructurings default within twelve months of the restructuring. As of December 31, 2014, the Company had two loans totaling $844,000 previously classified as troubled debt restructurings subsequently default within twelve months of the restructuring. A default is defined as an occurrence which violates the terms of the receivable’s contract.

The Company’s principal customers are primarily in the Middle Tennessee area with a concentration in Wilson County, 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 2015, 2014 and 2013, the Company originated loans in the secondary market of $153,882,000, $105,078,000 and $109,131,000, respectively. The fees and gain on sale of these loans totaled $4,048,000$2,780,000 and $3,298,000 in 2015, 2014 and 2013, respectively. The Company sells loans to third-party investors on a loan-by-loan basis and has not entered into any forward commitments with investors for future bulk sales. All of these loan sales transfer servicing rights to the buyer.

In some instances Wilson Bank sells loans that contain provisions which permit the borrower to seek recourse against Wilson Bank in certain circumstances. At December 31, 2015 and 2014, total loans sold with recourse in the secondary market aggregated $111,521,000 and $79,682,000, respectively. At December 31, 2015, Wilson Bank has not been required to repurchase a significant amount of the loans originated by Wilson Bank and sold in the secondary market. Management expects no material losses to result from these recourse provisions.

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Debt and Equity Securities

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Debt and Equity Securities

Debt and Equity Securities

Debt and equity securities have been classified in the consolidated balance sheet according to management’s intent. Debt and equity securities at December 31, 2015 consist of the following:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	9,375	60	169	9,266
Obligations of states and political subdivisions	18,820		288	9	19,099
	$	28,195	348	178	28,365

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	77,177	215	483	76,909
Mortgage-backed:
GSE residential	192,983		430	1,498	191,915
Asset-backed:
SBAP	31,253		54	273	31,034
Obligations of states and political subdivisions	31,093		274	97	31,270
	$	332,506	973	2,351	331,128

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

The Company’s classification of securities at December 31, 2014 is as follows:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	7,398	76	147	7,327
Obligations of states and political subdivisions	20,725		389	41	21,073
	$	28,123	465	188	28,400

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	131,767	129	1,329	130,567
Mortgage-backed:
GSE residential	170,802		731	464	171,069
Asset-backed:
SBAP	30,627		98	205	30,520
Obligations of states and political subdivisions	14,324		98	158	14,264
	$	347,520	1,056	2,156	346,420

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

Included in mortgage-backed GSE residential available-for-sale securities are collateralized mortgage obligations totaling $14,269,000 (fair value of $14,168,000) and $12,254,000 (fair value of $12,305,000) at December 31, 2015 and 2014, respectively.

The amortized cost and estimated market value of debt securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	In Thousands
Securities Held-To-Maturity	Amortized Cost		Estimated Market Value
Due in one year or less	$	1,309	1,321
Due after one year through five years	10,390		10,541
Due after five years through ten years	3,985		4,050
Due after ten years	3,136		3,187
	18,820		19,099
Mortgage-backed securities	9,375		9,266
	$	28,195	28,365

	In Thousands
Securities Available-For-Sale	Amortized Cost		Estimated Market Value
Due in one year or less	—		—
Due after one year through five years	42,769		42,767
Due after five years through ten years	62,760		62,659
Due after ten years	2,741		2,753
	108,270		108,179
Mortgage and asset-backed securities	224,236		222,949
	$	332,506	331,128

Results from sales of debt and equity securities are as follows:

	In Thousands
	2015			2014		2013
Gross proceeds	$	42,845		72,215		6,867
Gross realized gains	$	261		638		$	78
Gross realized losses	(76		)	(93	)	—
Net realized gains	$	185		545		$	78

Securities carried in the balance sheet of approximately $163,674,000 (approximate market value of $162,905,000) and $187,059,000 (approximate market value of $186,091,000) were pledged to secure public deposits and for other purposes as required or permitted by law at December 31, 2015 and 2014, respectively.

Included in the securities above are $21,593,000 (approximate market value of $21,896,000) and $21,823,000 (approximate market value of $22,162,000) at December 31, 2015 and 2014, respectively, in obligations of political subdivisions located within the State of Tennessee. Management purchases only obligations of such political subdivisions it considers to be financially sound.

Securities that have rates that adjust prior to maturity totaled $40,023,000 (approximate market value of $40,009,000) and $11,950,000 (approximate market value of $11,943,000) at December 31, 2015 and 2014, respectively.

Temporarily Impaired Securities

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2015.

Available-for-sale and held to maturity securities that have been in a continuous unrealized loss position at December 31, 2015 are as follows:

	In Thousands, Except Number of Securities
	Less than 12 Months			12 Months or More			Total
	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses
Held to Maturity Securities:
Debt securities:
Mortgage-backed:
GSE residential	4,339	45	3	2,717	124	3	7,056	169
Obligations of states and political subdivisions	3,461	9	10	—	—	—	3,461	9
	7,800	54	13	2,717	124	3	10,517	178
Available-for-Sale Securities:
Debt securities:
GSEs	33,369	232	12	17,829	251	6	51,198	483
Mortgage-backed:
GSE residential	142,251	1,407	66	4,521	91	7	146,772	1,498
Asset-backed:
SBAP	22,811	273	12	—	—	—	22,811	273
Obligations of states and political subdivisions	7,925	60	18	3,350	37	9	11,275	97
	206,356	1,972	108	25,700	379	22	232,056	2,351

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Restricted Equity Securities

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Restricted Equity Securities

Restricted Equity Securities

Restricted equity securities consists of stock of the Federal Home Loan Bank of Cincinnati amounting to $3,012,000 at December 31, 2015 and 2014, 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.

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Premises and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and Equipment

The detail of premises and equipment at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Land	$	17,022		16,662
Buildings	27,821			27,898
Leasehold improvements	140			140
Furniture and equipment	8,605			7,115
Automobiles	280			112
Construction-in-progress	2,091			3
	55,959			51,930
Less accumulated depreciation	(13,859		)	(11,807	)
	$	42,100		40,123

During 2015, 2014 and 2013 payments of $1,222,000, $1,176,000 and $1,154,000, respectively, were made to an entity owned by a director for the construction of buildings and minor repair work.

Depreciation expense was $2,582,000, $2,205,000 and $1,763,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

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Acquired Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Intangible Assets and Goodwill

Acquired Intangible Assets and Goodwill

The intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of 50% owned subsidiaries in 2005.

	In Thousands
	2015		2014
Goodwill:
Balance at January 1,	$	4,805	4,805
Goodwill acquired during year	—		—
Impairment loss	—		—
Balance at December 31,	$	4,805	4,805

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Deposits

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

Deposits

Deposits

Deposits at December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	2015		2014
Demand deposits	$	197,062	155,721
Savings accounts	107,829		102,432
Negotiable order of withdrawal accounts	445,967		375,967
Money market demand accounts	523,895		479,549
Certificates of deposit $100,000 or greater	220,151		229,709
Other certificates of deposit	208,359		225,766
Individual retirement accounts $100,000 or greater	38,058		40,590
Other individual retirement accounts	48,529		50,536
	$	1,789,850	1,660,270

Deposit accounts with a balance greater than $250,000 at December 31, 2015 totaled $467,559,000.

Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2015 are as follows:

	(In Thousands)
Maturity	Total
2016	$	232,189
2017	132,540
2018	93,092
2019	35,463
2020	21,305
Thereafter	508
	$	515,097

The aggregate amount of overdrafts reclassified as loans receivable was $303,000 and $373,000 at December 31, 2015 and 2014, respectively.

As of December 31, 2015 and 2014, Wilson Bank was not required to maintain a cash balance with the Federal Reserve.

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Securities Sold Under Repurchase Agreements

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

Securities Sold Under Repurchase Agreements

Securities Sold Under Repurchase Agreements

Securities sold under repurchase agreements were $2,035,000 and $3,437,000 at December 31, 2015 and 2014, respectively. The maximum amounts of outstanding repurchase agreements at any month end during 2015 and 2014 were $3,514,000 and $8,753,000, respectively. The average daily balance outstanding during 2015 and 2014 was $2,505,000 and $5,784,000, respectively. The weighted-average interest rate on the outstanding balance at December 31, 2015 and 2014 was .25% and .27%, respectively. The underlying securities are typically held by other financial institutions and are designated as pledged.

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Non-Interest Income and Non-Interest Expense

12 Months Ended

Dec. 31, 2015

Other Income and Expenses [Abstract]

Non-Interest Income and Non-Interest Expense

Non-Interest Income and Non-Interest Expense

The significant components of non-interest income and non-interest expense for the years ended December 31, 2015, 2014 and 2013 are presented below:

	In Thousands
	2015		2014		2013
Non-interest income:
Service charges on deposits	$	5,148	$	4,374	4,090
Other fees and commissions	9,321		8,519		7,651
BOLI and annuity earnings	877		376		75
Security gains, net	185		545		78
Fees and gains on sales of loans	4,048		2,780		3,298
Gain on sale of other real estate, net	362		77		—
Gain on sale of fixed assets, net	—		7		12
	$	19,941	$	16,678	15,204

	In Thousands
	2015		2014		2013
Non-interest expense:
Employee salaries and benefits	$	31,556	$	27,793	25,697
Occupancy expenses	3,444		3,100		2,715
Furniture and equipment expenses	2,063		1,767		1,406
Loss on the sale of fixed assets, net	53		—		—
Loss on sales of other assets, net	2		6		3
Write downs and loss on sales of other real estate, net	—		—		1,642
Data processing expenses	2,476		2,313		1,902
FDIC insurance	953		1,049		1,220
Directors’ fees	735		720		707
Other operating expenses	10,877		10,957		13,495
	$	52,159	$	47,705	48,787

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Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The components of the net deferred tax asset are as follows:

	In Thousands
	2015			2014
Deferred tax asset:
Federal	$	8,954		9,818
State	1,380			1,556
	10,334			11,374
Deferred tax liability:
Federal	(1,905		)	(1,829	)
State	(390		)	(374	)
	(2,295		)	(2,203	)
Net deferred tax asset	$	8,039		9,171

The tax effects of each type of significant item that gave rise to deferred tax assets (liabilities) are:

	In Thousands
	2015			2014
Financial statement allowance for loan losses in excess of tax allowance	$	8,317		8,191
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements	(1,815		)	(1,723	)
Financial statement deduction for deferred compensation in excess of deduction for tax purposes	1,174			1,010
Writedown of other real estate not deductible for income tax purposes until sold	162			1,024
Financial statement income on FHLB stock dividends not recognized for tax purposes	(480		)	(480	)
Unrealized loss on securities available-for-sale	528			421
Other items, net	153			728
	$	8,039		9,171

The components of income tax expense are summarized as follows:

	In Thousands
	Federal		State	Total
2015
Current	$	10,871	1,653	12,524
Deferred	1,028		210	1,238
Total	$	11,899	1,863	13,762
2014
Current	$	10,201	1,475	11,676
Deferred	526		108	634
Total	$	10,727	1,583	12,310
2013
Current	$	7,193	1,045	8,238
Deferred	898		170	1,068
Total	$	8,091	1,215	9,306

A reconciliation of actual income tax expense of $13,762,000, $12,310,000 and $9,306,000 for the years ended December 31, 2015, 2014 and 2013, respectively, to the “expected” tax expense (computed by applying the statutory rate of 34% to earnings before income taxes) is as follows:

	In Thousands
	2015			2014		2013
Computed “expected” tax expense	$	12,793		11,250		8,559
State income taxes, net of Federal income tax benefit	1,243			1,029		937
Tax exempt interest, net of interest expense exclusion	(266		)	(244	)	(234	)
Federal income tax rate in excess of statutory rate related to taxable income over $10 million	312			290		204
Earnings on cash surrender value of life insurance	(298		)	(128	)	(25	)
Expenses not deductible for tax purposes	35			37		35
Stock based compensation expense	13			14		11
Other	(70		)	62		(181	)
	$	13,762		12,310		9,306

Total income tax expense for 2015, 2014 and 2013, includes $71,000, $209,000 and $30,000 of expense related to the realized gain and loss, respectively, on sale of securities.

As of December 31, 2015, 2014 and 2013 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.

There were no unrecognized tax benefits at December 31, 2015.

Wilson Bank does not expect that unrecognized tax benefits will significantly increase or decrease within the next 12 months. Included in the balance at December 31, 2015, were approximately $10.3 million of tax positions (deferred tax assets) for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest, the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period.

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 2011. The Company’s Federal tax returns have been audited through December 31, 2004 with no changes.

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Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

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 consolidated financial position.

Wilson Bank leases land for certain branch facilities and automatic teller machine locations. Future minimum rental payments required under the terms of the noncancellable leases are as follows:

Years Ending December 31,	In Thousands
2016	$	141
2017	77
2018	50
2019	53
2020	56

Total rent expense amounted to $192,000, $133,000 and $128,000, respectively, during the years ended December 31, 2015, 2014 and 2013.

The Company has lines of credit with other financial institutions totaling $53,000,000 at December 31, 2015 and 2014, respectively. At December 31, 2015 and 2014, 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. 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 $15,000,000, 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, 2015 or December 31, 2014.

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Financial Instruments with Off-Balance-Sheet Risk

12 Months Ended

Dec. 31, 2015

Investments, All Other Investments [Abstract]

Financial Instruments with Off-Balance-Sheet Risk

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
	2015		2014
Financial instruments whose contract amounts represent credit risk:
Unused commitments to extend credit	$	391,553	307,332
Standby letters of credit	36,631		33,447
Total	$	428,184	340,779

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.

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Concentration of Credit Risk

12 Months Ended

Dec. 31, 2015

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Concentration of Credit Risk

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 1 to 2 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 counter parties drawing on such financial instruments and the present creditworthiness of such counter parties. 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 $33.6 million at December 31, 2015.

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. Investment in state and municipal securities also include governmental entities within the Company’s market area. The concentrations of credit by type of loan are set forth in note 2 to the consolidated financial statements.

At December 31, 2015, the Company’s cash and due from banks and federal funds sold included commercial bank deposits aggregating $35,757,000 in excess of the FDIC limit of $250,000 per depositor.

Federal funds sold were deposited with two banks.

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Employee Benefit Plan

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plan

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 20.5. The provisions of the 401(k) Plan provide for both employee and employer contributions. For the years ended December 31, 2015, 2014 and 2013, Wilson Bank contributed $1,840,000, $1,734,000 and $1,612,000, respectively, to the 401(k) Plan.

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Dividend Reinvestment Plan

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

Dividend Reinvestment Plan

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 72,543 in 2015, 69,289 in 2014 and 73,411 in 2013 were sold to participants under the terms of the DRIP.

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Regulatory Matters and Restrictions on Dividends

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

Regulatory Matters and Restrictions on Dividends

Regulatory Matters and Restrictions on Dividends

The Company and Wilson Bank are subject to regulatory capital requirements administered by the FDIC, the Federal Reserve and the Tennessee Department of Financial Institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Wilson Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Wilson Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Wilson Bank to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of December 31, 2015 and 2014, that the Company and Wilson Bank meet all capital adequacy requirements to which they are subject.

As of December 31, 2015, the most recent notification from the FDIC categorized Wilson Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the notification that management believes have changed Wilson Bank’s category. To be categorized as well capitalized as of December 31, 2015 and 2014, an institution must have maintained minimum capital ratios as set forth in the following tables and not have been subject to a written agreement, order or directive to maintain a higher capital level. The Company’s and Wilson Bank’s actual capital amounts and ratios as of December 31, 2015 and 2014, are also presented in the table:

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2015
Total capital to risk weighted assets:
Consolidated	$	240,848	14.1	%	$	136,588	8.0	%	$	170,736	10.0	%
Wilson Bank	238,963		14.0		136,575		8.0		170,719		10.0
Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		102,441		6.0		136,588		8.0
Wilson Bank	217,600		12.8		102,431		6.0		136,575		8.0
Common equity Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		76,831		4.5		110,978		6.5
Wilson Bank	217,600		12.8		76,823		4.5		110,967		6.5
Tier 1 capital to average assets:
Consolidated	219,483		11.1		79,361		4.0		N/A		N/A
Wilson Bank	217,600		11.0		79,354		4.0		99,192		5.0

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2014
Total capital to risk weighted assets:
Consolidated	$	214,779	15.0	%	$	114,549	8.0	%	$	143,186	10.0	%
Wilson Bank	213,447		14.9		114,602		8.0		143,253		10.0
Tier 1 capital to risk weighted assets:
Consolidated	196,765		13.7		57,450		4.0		86,174		6.0
Wilson Bank	195,433		13.6		57,480		4.0		86,220		6.0
Tier 1 capital to average assets:
Consolidated	196,765		10.6		74,251		4.0		N/A		N/A
Wilson Bank	195,433		10.5		74,451		4.0		93,063		5.0

In July 2013, the Federal banking regulators, in response to the Statutory Requirements of The Dodd-Frank Wall Street Reform and Consumer Protection Act, adopted new regulations implementing the Basel Capital Adequacy Accord (“Basel III”) and the related minimum capital ratios. The new capital requirements were effective beginning January 1, 2015 and include a new “Common Equity Tier I Ratio”, which has stricter rules as to what qualifies as Common Equity Tier I Capital. A summary of the changes to the Regulatory Capital Ratios are as follows:

	Guideline in Effect At 12/31/2014				Basel III Requirements
	Minimum		Well Capitalized		Minimum		Well Capitalized
Common Equity Tier I Ratio (Common Equity to Risk Weighted Assets)	Not Applicable		Not Applicable		4.5	%	6.5	%
Tier I Capital to Risk Weighted Assets	4	%	6	%	6	%	8	%
Total Capital to Risk Weighted Assets	8	%	10	%	8	%	10	%
Tier I Leverage Ratio	4	%	5	%	4	%	5	%

The guidelines under Basel III establish a 2.5% capital conservation buffer requirement that is phased in over four years beginning January 1, 2016. The buffer is related to Risk Weighted Assets. The Basel III minimum requirements after giving effect to the buffer are as follows:

	2016		2017		2018		2019
Common Equity Tier I Ratio	5.125	%	5.75	%	6.375	%	7.0	%
Tier I Capital to Risk Weighted Assets Ratio	6.625	%	7.25	%	7.875	%	8.5	%
Total Capital to Risk Weighted Assets Ratio	8.625	%	9.25	%	9.875	%	10.5	%

In order to avoid limitations on capital distributions such as dividends and certain discretionary bonus payments to executive officers, a banking organization must maintain capital ratios above the minimum ratios including the buffer.

The requirements of Basel III also place additional restrictions on the inclusion of deferred tax assets and capitalized mortgage servicing rights as a percentage of Tier I Capital. In addition, the risk weights assigned to certain assets such as past due loans and certain real estate loans have been increased.

The requirements of Basel III allow banks and bank holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company and Wilson Bank have chosen to opt out of this requirement.

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Salary Deferral Plans

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Salary Deferral Plans

Salary Deferral Plans

Wilson Bank provides its executive officers an Executive Salary Continuation Plan, which also provides for death and disability benefits. The Executive Salary Continuation Plan was 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 Executive Salary Continuation Plan provides retirement benefits for a period of 180 months after the employee reaches the age of 65 and/or age 55 after 20 years of service. The Executive Salary Continuation Plan also provides benefits over a period of fifteen years in the event the executive should die or become disabled prior to reaching retirement. Wilson Bank has purchased insurance policies or other assets to provide the benefits listed above. The insurance policies and other assets remain the sole property of Wilson Bank and are payable to Wilson Bank. At December 31, 2015 and 2014, the salary deferral compensation liability totaled $1,872,000 and $1,878,000, respectively, the cash surrender value of life insurance was $3,376,000 and $3,024,000, respectively, and the face amount of the insurance policies in force approximated $10,508,000 and $9,984,000, respectively. The Executive Salary Continuation Plan is not qualified under Section 401 of the Internal Revenue Code.

During November 2012 and May 2015, the Company amended its Executive Salary Continuation Plan effectively freezing accrued benefits so that no additional benefits will be accrued under the existing Executive Salary Continuation Plan. The frozen disability benefit will be paid until the applicable executive’s normal retirement age at which time such benefit will be reduced to the normal retirement benefit provided for under the applicable Executive Salary Continuation Plan agreement for the remaining benefit period.

In November 2012 and May 2015, Supplemental Executive Retirement Plan (SERP) Agreements were entered into with Wilson Bank’s executive officers to provide certain supplemental nonqualified pension benefits to the executives in coordination with the freezing of the benefits under the executive’s Salary Continuation Agreement. The SERP Agreements when combined with the frozen Salary Continuation Agreements continue to provide the executives with the same benefits as provided under the Salary Continuation Agreements for the 180-month period provided for thereunder and then continue a portion of that benefit for the remainder of each of the executives’ lives. In November 2012 and May 2015, Wilson Bank purchased Flexible Premium Indexed Deferred Annuity Contracts in the amount of $3,809,000 and $3,798,000 to fund the benefits under the SERP Agreements. The Salary Continuation Agreements, as amended, and the SERP Agreements together provide for the payment of an annual cash benefit to each of the executives (or their beneficiaries) following the executive’s separation from service from Wilson Bank under a variety of circumstances including both the executive’s voluntary termination of the executive’s employment with Wilson Bank and the involuntary termination of the executive by Wilson Bank without cause. The payments are made partially from the frozen Salary Continuation Agreements and partially from the SERP Agreements for the periods ranging from 180 months to life following an executive’s termination of service. At December 31, 2015 and 2014, the value of the Flexible Indexed Annuity Contracts totaled $8,939,000 and $3,987,000 and the salary deferral compensation liability totaled $1,161,000 and $697,000, respectively.

The Company purchased insurance policies during 2015 and 2014 to provide death benefits as provided for in the plans. The insurance policies remain the sole property of the Company and are payable to the Company. The cash surrender value of life insurance totaled $14,357,000 and $10,320,000 and the face amount of the insurance policies in force approximated $35,471,000 and $26,090,000 at December 31, 2015 and 2014, respectively.

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Stock Option Plan

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Option Plan

Stock Option Plan

In April 1999, the stockholders of the Company approved the Wilson Bank Holding Company 1999 Stock Option Plan (the “1999 Stock Option Plan”). The Stock Option Plan provides for the granting of stock options, and authorizes the issuance of common stock upon the exercise of such options, for up to 200,000 shares of common stock, to officers and other key employees of the Company and its subsidiary. Furthermore, the Company and its subsidiary may reserve additional shares for issuance under the 1999 Stock Option Plan as needed in order that the aggregate number of shares that may be issued during the term of the 1999 Stock Option Plan is equal to five percent (5%) of the shares of common stock then issued and outstanding.

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 is effective as of April 14, 2009 and replaces the 1999 Stock Option Plan which expired on April 13, 2009. Under the 2009 Stock Option Plan, awards may 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 may be granted under the 2009 Stock Option Plan is 75,000 shares. As of December 31, 2015, the Company has granted 41,000 options to employees pursuant to the 2009 Stock Option Plan.

Under the 2009 Stock Option Plan, stock option awards may be granted in the form of incentive stock options or nonstatutory stock options and are generally exercisable for up to ten years following the date such option awards are granted. Exercise prices of incentive stock options must be equal to or greater than 100% of the fair market value of the common stock on the grant date.

The fair value of each 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 2015, 2014 and 2013:

	2015		2014		2013
Expected dividends	1.00	%	1.11	%	1.12	%
Expected term (in years)	8.96		9.33		9.56
Expected volatility	22	%	23	%	25	%
Risk-free rate	2.02	%	2.62	%	2.04	%

The expected 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 assumption is based on the Company’s history and expectation of dividend payouts.

A summary of the stock option activity for 2015, 2014 and 2013 is as follows:

	2015				2014				2013
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of year	43,569		$	38.03	47,654		$	36.43	48,987		$	34.24
Granted	3,250		48.30		3,250		45.75		5,500		44.16
Exercised	(7,633	)	31.58		(6,144	)	30.24		(5,973	)	26.00
Forfeited or expired	(1,767	)	37.63		(1,191	)	35.36		(860	)	33.07
Outstanding at end of year	37,419		$	40.25	43,569		$	38.03	47,654		$	36.43
Options exercisable at year end	9,814		$	38.06	12,064		$	34.59	12,009		$	32.35

The following table summarizes information about stock options outstanding at December 31, 2015:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Number Exercisable at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term
$ 26.63 - $ 35.75	5,946		33.21	2.03 years	2,853		33.44	1.97 years
$ 37.75 - $ 48.95	31,473		41.58	5.91 years	6,961		39.96	4.92 years
	37,419				9,814
Aggregate intrinsic value (in thousands)	$	370			$	119

The weighted average fair value at the grant date of options granted during the years 2015, 2014 and 2013 was $12.72, $13.41 and $13.03, respectively. The total intrinsic value of options exercised during the years 2015, 2014 and 2013 was $129,000, $99,000 and $109,000, respectively.

As of December 31, 2015, there was $234,000 of total unrecognized cost related to non-vested share-based compensation arrangements granted under the Company’s stock option plans. The cost is expected to be recognized over a weighted-average period of 6.5 years.

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Earnings Per Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following is a summary of the components comprising basic and diluted earnings per share (“EPS”):

	In Thousands (except share data)
	2015		2014		2013
Basic EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator - Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Basic earnings per common share	$	3.13	2.75		2.12
Diluted EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator:
Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Dilutive effect of stock options	3,527		4,393		4,798
	7,627,635		7,551,480		7,477,171
Diluted earnings per common share	$	3.13	$	2.75	$	2.12

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Disclosures About Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Disclosures About Fair Value of Financial Instruments

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.

Assets

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.

Impaired loans—A loan is considered to be impaired when it is probable the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent. If the recorded investment in the impaired loan exceeds the measure of fair value, a valuation allowance may be established as a component of the allowance for loan losses or the expense is recognized as a charge-off. Impaired loans are classified within Level 3 of the 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 foreclosure, 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 loan 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 expense, as applicable. 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.

Other assets—Included in other assets are certain assets carried at fair value, including the cash surrender value of bank owned life insurance policies and annuity contracts. The Company uses financial information received from insurance carriers indicating the performance of the insurance policies and cash surrender values in determining the carrying value of life insurance. The Company reflects these assets within Level 3 of the valuation hierarchy due to the unobservable inputs included in the valuation of these items. The Company does not consider the fair values of these policies to be materially sensitive to changes in these unobservable inputs.

Mortgage 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.

The following tables present the financial instruments carried at fair value as of December 31, 2015 and December 31, 2014, 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, 2015
Investment securities available-for-sale:
U.S. Government sponsored enterprises	$	76,909	—	76,909	—
Mortgage-backed securities	191,915		—	191,915	—
Asset-backed securities	31,034		—	31,034	—
State and municipal securities	31,270		—	31,270	—
Total investment securities available-for-sale	331,128		—	331,128	—
Loans Held for Sale	10,135		—	10,135	—
Other assets	26,672		—	—	26,672
Total assets at fair value	$	367,935	—	341,263	26,672

	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, 2014
Investment securities available-for-sale:
U.S. Government sponsored enterprises and agency-backed	$	130,567	—	130,567	—
Mortgage-backed securities	171,069		—	171,069	—
Asset-backed securities	30,520		—	30,520	—
State and municipal securities	14,264		—	14,264	—
Total investment securities available-for-sale	346,420		—	346,420	—
Loans held for sale	9,466		—	9,466	—
Other assets	17,331		—	—	17,331
Total assets at fair value	$	373,217	—	355,886	17,331

	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, 2015
Other real estate owned	$	5,410	—	—	5,410
Impaired loans, net (¹)	8,436		—	—	8,436
Total	$	13,846	—	—	13,846
December 31, 2014
Other real estate owned	$	7,298	—	—	7,298
Impaired loans, net (¹)	8,945		—	—	8,945
Total	$	16,243	—	—	16,243

(1) Amount is net of a valuation allowance of $194,000 at December 31, 2015 and $1,631,000 at December 31, 2014 as required by ASC 310, “Receivables.”

In the case of the bond 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, 2015, 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, 2015 and 2014 (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,
	2015			2014
	Other Assets		Other Liabilities	Other Assets		Other Liabilities
Fair value, January 1	$	17,331	—	$	11,390	—
Total realized gains included in income	877		—	376		—
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	—		—	—		—
Purchases, issuances and settlements, net	8,464		—	5,565		—
Transfers out of Level 3	—		—	—		—
Fair value, December 31	$	26,672	—	$	17,331	—
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	$	877	—	$	376	—

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, 2015 and December 31, 2014. 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.

Held-to-maturity securities—Estimated fair values for investment securities are based on quoted market prices where available. 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.

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, impaired 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 impaired 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.

Deposits and Securities sold under agreements to repurchase—The carrying amounts of demand deposits, savings deposits and securities sold under agreements to repurchase, approximate their fair values. Fair values for certificates of deposit are estimated using discounted cash flow models, using current market interest rates offered on certificates 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, 2015 and December 31, 2014. 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, 2015
Financial assets:
Securities held-to-maturity	$	28,195	28,365	—	28,365	—
Loans, net	1,443,179		1,443,738	—	—	1,443,738
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,791,885		1,549,414	—	—	1,549,414
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—
December 31, 2014
Financial assets:
Securities held-to-maturity	$	28,123	28,400	—	28,400	—
Loans, net	1,329,865		1,346,569	—	—	1,346,569
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,663,707		1,530,607	—	—	1,530,607
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—

(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.

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Wilson Bank Holding Company - Parent Company Financial Information

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Wilson Bank Holding Company - Parent Company Financial Information

Wilson BankHolding Company -

Parent Company Financial Information

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Balance Sheets

December 31, 2015 and 2014

	Dollars In Thousands
	2015				2014
ASSETS
Cash	$	1,685		*	1,120		*
Investment in wholly-owned commercial bank subsidiary	221,555				199,560
Refundable income taxes	198				212
Total assets	$	223,438			200,892
LIABILITIES AND STOCKHOLDERS’ EQUITY
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	$	15,304			15,144
Additional paid-in capital	61,339				57,709
Retained earnings	147,646				128,718
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively	(851		)		(679	)
Total stockholders’ equity	223,438				200,892
Total liabilities and stockholders’ equity	$	223,438			200,892

* Eliminated in consolidation.

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Earnings and Comprehensive Earnings

Three Years Ended December 31, 2015

	Dollars In Thousands
	2015				2014			2013
Expenses:
Directors’ fees	$	350			351			337
Other	152				191			83
Loss before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary	(502		)		(542	)		(420	)
Federal income tax benefits	198				212			173
	(304		)		(330	)		(247	)
Equity in undistributed earnings of commercial bank subsidiary	24,167			*	21,107		*	16,116		*
Net earnings	23,863				20,777			15,869
Other comprehensive earnings (losses), net of tax:
Net unrealized gains (losses) on available-for-sale- securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively	(58		)		3,953			(6,820	)
Reclassification adjustments for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively	(114		)		(336	)		(48	)
Other comprehensive earnings (losses)	(172		)		3,617			(6,868	)
Comprehensive earnings	$	23,691			24,394			9,001

* Eliminated in consolidation

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Changes in Stockholders’ Equity

Three Years Ended December 31, 2015

	Dollars In Thousands
	Common Stock			Additional Paid-In Capital		Retained Earnings		Net Unrealized Gain (Loss) On Available-For-Sale Securities		Total
Balance December 31, 2012	$	14,838		51,242		101,046		2,572		169,698
Cash dividends declared, $.60 per share	—			—		(4,464	)	—		(4,464	)
Issuance of 73,411 shares of stock pursuant to dividend reinvestment plan	147			3,101		—		—		3,248
Issuance of 5,973 shares of stock pursuant to exercise of stock options	12			144		—		—		156
Share based compensation expense	—			32		—		—		32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261	—			—		—		(6,868	)	(6,868	)
Net earnings for the year	—			—		15,869		—		15,869
Balance December 31, 2013	14,997			54,519		112,451		(4,296	)	177,671
Cash dividends declared, $.60 per share	—			—		(4,510	)	—		(4,510	)
Issuance of 69,289 shares of stock pursuant to dividend reinvestment plan	139			3,065		—		—		3,204
Issuance of 6,144 shares of stock pursuant to exercise of stock options	12			174		—		—		186
Share based compensation expense	—			41		—		—		41
Net change in fair value of available-for-sale securities during the year, net of taxes of $2,245	—			—		—		3,617		3,617
Repurchase of 2,053 common shares	(4		)	(90	)					(94	)
Net earnings for the year	—			—		20,777		—		20,777
Balance December 31, 2014	15,144			57,709		128,718		(679	)	200,892
Cash dividends declared, $.65 per share	—			—		(4,935	)	—		(4,935	)
Issuance of 72,543 shares of stock pursuant to dividend reinvestment plan	145			3,366		—		—		3,511
Issuance of 7,633 shares of stock pursuant to exercise of stock options	15			226		—		—		241
Share based compensation expense	—			38		—		—		38
Net change in fair value of available-for-sale securities during the year, net of taxes of $106	—			—		—		(172	)	(172	)
Net earnings for the year	—			—		23,863		—		23,863
Balance December 31, 2015	$	15,304		61,339		147,646		(851	)	223,438

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars In Thousands
	2015			2014		2013
Cash flows from operating activities:
Cash paid to suppliers and other	$	(464	)	(501	)	(388	)
Tax benefits received	212			173		173
Net cash used in operating activities	(252		)	(328	)	(215	)
Cash flows from investing activities:
Dividends received from commercial bank subsidiary	2,000			—		2,600
Net cash provided by investing activities	2,000			—		2,600
Cash flows from financing activities:
Dividends paid	(4,935		)	(4,510	)	(4,464	)
Proceeds from sale of stock pursuant to dividend reinvestment	3,511			3,204		3,248
Proceeds from exercise of stock options	241			186		156
Common shares repurchased	—			(94	)	—
Net cash used in financing activities	(1,183		)	(1,214	)	(1,060	)
Net increase (decrease) in cash and cash equivalents	565			(1,542	)	1,325
Cash and cash equivalents at beginning of year	1,120			2,662		1,337
Cash and cash equivalents at end of year	$	1,685		1,120		2,662

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows, Continued

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars in Thousands
	2015			2014		2013
Reconciliation of net earnings to net cash used in operating activities:
Net earnings	$	23,863		20,777		15,869
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of commercial bank subsidiary	(24,167		)	(21,107	)	(16,116	)
Decrease (increase) in refundable income taxes	14			(39	)	—
Share based compensation expense	38			41		32
Total adjustments	(24,115		)	(21,105	)	(16,084	)
Net cash used in operating activities	$	(252	)	(328	)	(215	)

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Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

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)
	2015					2014					2013
	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter	Third Quarter	Second Quarter	First Quarter
Interest income	$	20,213	19,982	19,617	19,027	$	19,180	18,980	18,286	17,934	18,315	17,930	17,749	17,820
Net interest income	18,126		17,868	17,426	16,811	16,783		16,554	15,849	15,426	15,704	15,263	15,001	14,967
Provision for loan losses	123		109	81	75	134		87	28	249	15	738	755	669
Earnings before income taxes	8,720		9,862	9,889	9,154	8,888		8,772	8,503	6,924	6,514	7,115	6,684	4,862
Net earnings	5,958		6,088	6,201	5,616	6,100		5,351	5,154	4,172	4,163	4,481	4,247	2,978
Basic earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.56	0.60	0.57	0.40
Diluted earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.55	0.60	0.57	0.40

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Subsequent Events

12 Months Ended

Dec. 31, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

ASC Topic 855, Subsequent Events, as amended by ASU No. 2010-90, establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. The Company evaluated all events or transactions that occurred after December 31, 2015, through the date of the issued financial statements. During this period there were no material recognizable subsequent events that required recognition in our disclosures to the December 31, 2015 financial statements.

This financial information has not been reviewed for accuracy or relevance by the FDIC.

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary Wilson Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

Nature of Operations

Nature of Operations

Wilson Bank operates under a state bank charter and provides full banking services. As a 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, and eastern Davidson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at the main office and twenty-five branch locations.

Estimates

Estimates

In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States (“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 loan losses, the valuation of deferred tax assets and other real estate, other-than-temporary impairments of securities, and the fair value of financial instruments.

Significant Group Concentrations of Credit Risk

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.

Loans

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 loan losses, and any unamortized deferred fees or costs on originated loans, and premiums or discounts on purchased loans.

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 our 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 our independent loan review department. Risk ratings are categorized as pass, special mention, substandard or doubtful. The Company believes that our categories follow those outlined by our primary 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.

Allowance for Loan Losses

Allowance for Loan Losses

Management provides for loan losses by establishing an allowance. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s quarterly review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.

In assessing the adequacy of the allowance, we also consider the results of our ongoing independent loan review process. We undertake this process both to ascertain whether there are loans in the portfolio whose credit quality has weakened over time and to assist in our overall evaluation of the risk characteristics of the entire loan portfolio. Our loan review process includes the judgment of management, independent loan reviewers, and reviews that may have been conducted by third-party reviewers. We incorporate relevant loan review results in the loan impairment determination. In addition, regulatory agencies, as an integral part of their examination process, will periodically review the Company’s allowance for loan losses and may require the Company to record adjustments to the allowance based on their judgment about information available to them at the time of their examinations.

In addition to the independent loan review process, the aforementioned risk ratings are subject to continual review by loan officers to determine that the appropriate risk ratings are being utilized in our allowance for loan loss process. Each risk rating is also subject to review by our independent loan review department. Currently, our independent loan review department targets reviews of 100% of existing loan relationships with aggregate debt of $1.0 million and greater and new loans with aggregate debt of $500,000 and greater. In addition, our loan review targets portfolio segments, loans assigned to a particular lending officer, and loans with four or more renewals.

The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are individually classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and other adjustments based on management’s assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial, mortgage and agricultural loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent.

Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment disclosures, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower.

Debt and Equity Securities

Debt and Equity 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 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.

Other-than-temporary Impairment—Impaired securities are assessed quarterly for the presence of other-than-temporary impairment (“OTTI”). A decline in the fair value of any available-for-sale or held-to-maturity security below cost that is deemed to be other-than-temporary results in a reduction in the carrying amount of the security. To determine whether OTTI has occurred, management considers factors such as (1) length of time and extent that fair value has been less than cost, (2) the financial condition and near term prospectus of the issuer, and (3) the Bank’s ability and intent to hold the security for a period sufficient to allow for any anticipated recovery in fair value. If management deems a security to be OTTI, management reviews the present value of the future cash flows associated with the security. A shortfall of the present value of the cash flows expected to be collected in relation to the amortized cost basis is referred to as a credit loss. If a credit loss is identified, the credit loss is recognized as a charge to earnings and a new cost basis for the security is established. If management concludes that no credit loss exists and it is not “more-likely-than-not” that it will be required to sell the security before the recovery of the security’s cost basis, then the security is not deemed OTTI and the shortfall is recorded as a component of equity.

Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

The Company, as a member of the Federal Home Loan Bank (“FHLB”) Cincinnati system, is required to maintain an investment in capital stock of the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at par value, which approximates its fair value. Management reviews the investment for impairment based on the ultimate recoverability of the cost basis in the FHLB stock. As of December 31, 2015, the minimum required investment was approximately $2,235,000. Stock redemptions are at the discretion of the FHLB.

Loans Held for Sale

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.

Premises and Equipment

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. 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.

Other Real Estate

Other Real Estate

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 of foreclosure, 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 in net expenses from foreclosed assets.

Intangible Assets

Intangible Assets

The Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 350, Goodwill and Other Intangible Assets requires that management determine the allocation of intangible assets into identifiable groups at the date of acquisition and that appropriate amortization periods be established. Under the provisions of FASB ASC 350, goodwill is not to be amortized; rather, it is to be monitored for impairment and written down to the impairment value at the time impairment occurs. The Company has determined that no impairment loss needs to be recognized related to its goodwill.

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, 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.

Long-Term Assets

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.

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

Substantially all repurchase agreement liabilities represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by Federal deposit insurance.

Income Taxes

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 or excess of deductions over revenues. 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.

Stock Options

Stock Options

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, share appreciation rights, and employee share purchase plans.

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.

Advertising Costs

Advertising Costs

Advertising costs are expensed as incurred by the Company

Earnings Per Share

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.

Fair Value of Financial Instruments

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 20 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.

Reclassifications

Reclassification

Certain reclassifications have been made to the 2014 and 2013 figures to conform to the presentation for 2015.

Off-Balance-Sheet Financial Instruments

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.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” which provides disclosure guidance on amounts reclassified out of Accumulated Other Comprehensive Income by component. The adoption of this ASU did not have any impact on the Company’s financial position or results of operations but has impacted our financial statement disclosure.

In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40); Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure, to reduce the diversity in reporting when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in this ASU clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. As of December 31, 2015, the Company had no loans that met the above stated criteria. The total amount of foreclosed residential real property amounted to $550,000 and $456,000 at December 31, 2015 and December 31, 2014, respectively.

There were no other recently issued accounting pronouncements that are expected to materially impact the Company.

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.

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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Schedule of Details on Loans of Company

The classification of loans at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Mortgage loans on real estate:
Residential 1-4 family	$	349,631		350,758
Multifamily	49,564			31,242
Commercial	625,623			564,965
Construction	275,319			245,830
Farmland	32,114			30,236
Second mortgages	7,551			9,026
Equity lines of credit	46,506			41,496
Total mortgage loans on real estate	1,386,308			1,273,553
Commercial loans	30,537			30,000
Agriculture loans	1,552			1,670
Consumer installment loans:
Personal	40,196			37,745
Credit cards	3,271			3,280
Total consumer installment loans	43,467			41,025
Other loans	9,250			10,530
	1,471,114			1,356,778
Net deferred loan fees	(5,035		)	(4,341	)
Total loans	1,466,079			1,352,437
Less: Allowance for loan losses	(22,900		)	(22,572	)
Loans, net	$	1,443,179		1,329,865

Schedule of Loans and Leases Receivable Related Parties

An analysis of the activity with respect to such loans to related parties is as follows:

	In Thousands
	December 31,
	2015			2014
Balance, January 1	$	11,744		10,821
New loans and renewals during the year	12,329			9,406
Repayments (including loans paid by renewal) during the year	(17,497		)	(8,483	)
Balance, December 31	$	6,576		11,744

Company's Impaired Loans

The following tables, present the Company’s impaired loans at December 31, 2015 and 2014:

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With no related allowance recorded:
Residential 1-4 family	$	633	622	—	724	39
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	5,048	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	431	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,796	7,778	—	6,689	160

	In Thousands
	Record Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
With allowance recorded:
Residential 1-4 family	$	834	827	194	785	47
Multifamily	—		—	—	—	—
Commercial real estate	—		—	—	3,419	—
Construction	—		—	—	—	—
Farmland	—		—	—	144	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	834	827	194	4,348	47

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2015
Total:
Residential 1-4 family	$	1,467	1,449	194	1,509	86
Multifamily	—		—	—	—	—
Commercial real estate	4,645		4,643	—	8,467	24
Construction	1,943		1,938	—	486	97
Farmland	575		575	—	575	—
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	8,630	8,605	194	11,037	207

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With no related allowance recorded:
Residential 1-4 family	$	1,891	1,854	—	1,081	114
Multifamily	—		—	—	—	—
Commercial real estate	1,352		2,188	—	5,984	95
Construction	—		—	—	673	—
Farmland	—		—	—	—	—
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	3,524	4,322	—	7,960	212

	In Thousands
	Recorded Investment		Unpaid Principal Balance	Related Allowance	Average Recorded Investment	Interest Income Recognized
December 31, 2014
With allowance recorded:
Residential 1-4 family	$	1,219	1,207	376	1,363	61
Multifamily	—		—	—	—	—
Commercial real estate	5,131		6,811	1,135	5,755	202
Construction	—		—	—	1,815	—
Farmland	702		701	120	767	7
Second mortgages	—		—	—	—	—
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	7,052	8,719	1,631	9,700	270
December 31, 2014
Total:
Residential 1-4 family	$	3,110	3,061	376	2,444	175
Multifamily	—		—	—	—	—
Commercial real estate	6,483		8,999	1,135	11,739	297
Construction	—		—	—	2,488	—
Farmland	702		701	120	767	7
Second mortgages	281		280	—	222	3
Equity lines of credit	—		—	—	—	—
Commercial	—		—	—	—	—
Agricultural, installment and other	—		—	—	—	—
	$	10,576	13,041	1,631	17,660	482

Loans on Nonaccrual Status

The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2015 and 2014.

Loans on Nonaccrual Status

	In Thousands
	2015		2014
Residential 1-4 family	$	41	42
Multifamily	—		—
Commercial real estate	4,293		—
Construction	—		—
Farmland	575		574
Second mortgages	—		—
Equity lines of credit	—		—
Commercial	—		—
Agricultural, installment and other	—		—
Total	$	4,909	616

Credit Quality Indicators

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 impaired and places the loans on nonaccrual status.

Credit Quality Indicators

	In Thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate	Construction	Farmland	Second Mortgages	Equity Lines of Credit	Commercial	Agricultural, Installment and Other	Total
Credit Risk Profile by Internally Assigned Grade
December 31, 2015
Pass	$	340,019	49,564	612,318	274,926	30,933	7,097	46,361	30,525	54,154	1,445,897
Special mention	6,957		—	8,227	277	200	353	—	10	38	16,062
Substandard	2,655		—	5,078	116	981	101	145	2	77	9,155
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	349,631	49,564	625,623	275,319	32,114	7,551	46,506	30,537	54,269	1,471,114
December 31, 2014
Pass	339,529		31,242	545,301	243,416	29,260	8,007	41,274	29,893	53,048	1,320,970
Special mention	7,681		—	13,313	2,362	57	347	176	18	16	23,970
Substandard	3,548		—	6,351	52	919	672	46	89	161	11,838
Doubtful	—		—	—	—	—	—	—	—	—	—
Total	$	350,758	31,242	564,965	245,830	30,236	9,026	41,496	30,000	53,225	1,356,778

Age Analysis of Past Due Loans

Age Analysis of Past Due Loans

	In Thousands
	30-59 Days Past Due		60-89 Days Past Due	Nonaccrual and Greater Than 90 Days	Total Nonaccrual and Past Due	Current	Total Loans	Recorded Investment Greater Than 90 Days and Accruing
December 31, 2015
Residential 1-4 family	$	3,272	1,198	1,412	5,882	343,749	349,631	1,371
Multifamily	—		—	—	—	49,564	49,564	—
Commercial real estate	172		—	4,293	4,465	621,158	625,623	—
Construction	958		230	—	1,188	274,131	275,319	—
Farmland	88		21	886	995	31,119	32,114	311
Second mortgages	87		—	4	91	7,460	7,551	4
Equity lines of credit	283		89	197	569	45,937	46,506	197
Commercial	2		—	39	41	30,496	30,537	39
Agricultural, installment and other	382		114	56	552	53,717	54,269	56
Total	5,244		1,652	6,887	13,783	1,457,331	1,471,114	1,978
December 31, 2014
Residential 1-4 family	$	6,166	1,275	1,352	8,793	341,965	350,758	1,310
Multifamily	—		—	—	—	31,242	31,242	—
Commercial real estate	2,151		242	19	2,412	562,553	564,965	19
Construction	125		91	73	289	245,541	245,830	73
Farmland	88		—	594	682	29,554	30,236	20
Second mortgages	286		18	70	374	8,652	9,026	70
Equity lines of credit	346		—	5	351	41,145	41,496	5
Commercial	37		—	—	37	29,963	30,000	—
Agricultural, installment and other	301		126	44	471	52,754	53,225	44
Total	$	9,500	1,752	2,157	13,409	1,343,369	1,356,778	1,541

Transactions in Allowance for Loan Losses

Transactions in the allowance for loan losses for the years ended December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	Residential 1-4 Family			Multifamily	Commercial Real Estate		Construction		Farmland		Second Mortgages		Equity Lines of Credit		Commercial	Agricultural, Installment and Other		Total
December 31, 2015
Allowance for loan losses:
Beginning balance	$	5,582		172	9,578		5,578		795		61		304		176	326		22,572
Provision	(290		)	447	(267	)	(455	)	(142	)	87		303		118	587		388
Charge-offs	(311		)	—	(44	)	(26	)	—		(45	)	(14	)	—	(664	)	(1,104	)
Recoveries	43			—	719		39		1		3		1		7	231		1,044
Ending balance	$	5,024		619	9,986		5,136		654		106		594		301	480		22,900
Ending balance individually evaluated for impairment	$	194		—	—		—		—		—		—		—	—		194
Ending balance collectively evaluated for impairment	$	4,830		619	9,986		5,136		654		106		594		301	480		22,706
Ending balance loans acquired with deteriorated credit quality	$	—		—	—		—		—		—		—		—	—		—
Loans:
Ending balance	$	349,631		49,564	625,623		275,319		32,114		7,551		46,506		30,537	54,269		1,471,114
Ending balance individually evaluated for impairment	$	1,449		—	4,643		1,938		575		—		—		—	—		8,605
Ending balance collectively evaluated for impairment	$	348,182		49,564	620,980		273,381		31,539		7,551		46,506		30,537	54,269		1,462,509
Ending balance loans acquired with deteriorated credit quality	—			—	—		—		—		—		—		—	—		—

	In thousands
	Residential 1-4 Family		Multifamily	Commercial Real Estate		Construction		Farmland	Second Mortgages		Equity Lines of Credit	Commercial		Agricultural, Installment and Other		Total
December 31, 2014
Allowance for loan losses:
Beginning balance	4,935		77	10,918		5,159		618	205		300	395		328		22,935
Provision	1,059		95	(378	)	102		176	(164	)	3	(641	)	246		498
Charge-offs	(468	)	—	(968	)	(7	)	—	—		—	(37	)	(387	)	(1,867	)
Recoveries	56		—	6		324		1	20		1	459		139		1,006
Ending balance	5,582		172	9,578		5,578		795	61		304	176		326		22,572
Ending balance individually evaluated for impairment	376		—	1,135		—		120	—		—	—		—		1,631
Ending balance collectively evaluated for impairment	5,206		172	8,443		5,578		675	61		304	176		326		20,941
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—
Loans:
Ending balance	350,758		31,242	564,965		245,830		30,236	9,026		41,496	30,000		53,225		1,356,778
Ending balance individually evaluated for impairment	3,061		—	6,455		—		701	280		—	—		—		10,497
Ending balance collectively evaluated for impairment	347,697		31,242	558,510		245,830		29,535	8,746		41,496	30,000		53,225		1,346,281
Ending balance loans acquired with deteriorated credit quality	—		—	—		—		—	—		—	—		—		—

Summary of Carrying Balances of TDRs

The following table summarizes the carrying balances of TDRs at December 31, 2015 and December 31, 2014 (dollars in thousands):

	2015		2014
Performing TDRs	$	983	5,448
Nonperforming TDRs	3,121		2,592
Total TDRs	$	4,104	8,040

Troubled Debt Restructuring Categorized by Loan

The following table outlines the amount of each troubled debt restructuring categorized by loan classification for the years ended December 31, 2015 and 2014 (dollars in thousands):

	December 31, 2015			December 31, 2014
	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance	Number of Contracts	Pre Modification Outstanding Recorded Investment	Post Modification Outstanding Recorded Investment, Net of Related Allowance
Residential 1-4 family	2	77	77	6	1,346	1,218
Multifamily	—	—	—	—	—	—
Commercial real estate	—	—	—	2	1,020	1,020
Construction	1	1,938	1,938	—	—	—
Farmland	—	—	—	—	—	—
Second mortgages	—	—	—	—	—	—
Equity lines of credit	—	—	—	—	—	—
Commercial	—	—	—	1	3	3
Agricultural, installment and other	1	2	1	1	1	1
Total	4	2,017	2,016	10	2,370	2,242

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Debt and Equity Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Summary of Debt and Equity Securities

Debt and equity securities have been classified in the consolidated balance sheet according to management’s intent. Debt and equity securities at December 31, 2015 consist of the following:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	9,375	60	169	9,266
Obligations of states and political subdivisions	18,820		288	9	19,099
	$	28,195	348	178	28,365

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	77,177	215	483	76,909
Mortgage-backed:
GSE residential	192,983		430	1,498	191,915
Asset-backed:
SBAP	31,253		54	273	31,034
Obligations of states and political subdivisions	31,093		274	97	31,270
	$	332,506	973	2,351	331,128

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

The Company’s classification of securities at December 31, 2014 is as follows:

	Securities Held-To-Maturity
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Mortgage-backed:
Government-sponsored enterprises (GSEs)* residential	$	7,398	76	147	7,327
Obligations of states and political subdivisions	20,725		389	41	21,073
	$	28,123	465	188	28,400

	Securities Available-For-Sale
	In Thousands
	Amortized Cost		Gross Unrealized Gains	Gross Unrealized Losses	Estimated Market Value
Government-sponsored enterprises (GSEs)*	$	131,767	129	1,329	130,567
Mortgage-backed:
GSE residential	170,802		731	464	171,069
Asset-backed:
SBAP	30,627		98	205	30,520
Obligations of states and political subdivisions	14,324		98	158	14,264
	$	347,520	1,056	2,156	346,420

* Such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Home Loan Banks, Federal Farm Credit Banks and Government National Mortgage Association.

Maturity of Amortized Cost and Estimated Market Value of Debt Securities

Included in mortgage-backed GSE residential available-for-sale securities are collateralized mortgage obligations totaling $14,269,000 (fair value of $14,168,000) and $12,254,000 (fair value of $12,305,000) at December 31, 2015 and 2014, respectively.

The amortized cost and estimated market value of debt securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	In Thousands
Securities Held-To-Maturity	Amortized Cost		Estimated Market Value
Due in one year or less	$	1,309	1,321
Due after one year through five years	10,390		10,541
Due after five years through ten years	3,985		4,050
Due after ten years	3,136		3,187
	18,820		19,099
Mortgage-backed securities	9,375		9,266
	$	28,195	28,365

	In Thousands
Securities Available-For-Sale	Amortized Cost		Estimated Market Value
Due in one year or less	—		—
Due after one year through five years	42,769		42,767
Due after five years through ten years	62,760		62,659
Due after ten years	2,741		2,753
	108,270		108,179
Mortgage and asset-backed securities	224,236		222,949
	$	332,506	331,128

Sales of Debt and Equity Securities

Results from sales of debt and equity securities are as follows:

	In Thousands
	2015			2014		2013
Gross proceeds	$	42,845		72,215		6,867
Gross realized gains	$	261		638		$	78
Gross realized losses	(76		)	(93	)	—
Net realized gains	$	185		545		$	78

Gross Unrealized Losses and Fair Value of Company's Investments

Available-for-sale and held to maturity securities that have been in a continuous unrealized loss position at December 31, 2015 are as follows:

	In Thousands, Except Number of Securities
	Less than 12 Months			12 Months or More			Total
	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses	Number of Securities Included	Fair Value	Unrealized Losses
Held to Maturity Securities:
Debt securities:
Mortgage-backed:
GSE residential	4,339	45	3	2,717	124	3	7,056	169
Obligations of states and political subdivisions	3,461	9	10	—	—	—	3,461	9
	7,800	54	13	2,717	124	3	10,517	178
Available-for-Sale Securities:
Debt securities:
GSEs	33,369	232	12	17,829	251	6	51,198	483
Mortgage-backed:
GSE residential	142,251	1,407	66	4,521	91	7	146,772	1,498
Asset-backed:
SBAP	22,811	273	12	—	—	—	22,811	273
Obligations of states and political subdivisions	7,925	60	18	3,350	37	9	11,275	97
	206,356	1,972	108	25,700	379	22	232,056	2,351

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Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Detail of Premises and Equipment

The detail of premises and equipment at December 31, 2015 and 2014 is as follows:

	In Thousands
	2015			2014
Land	$	17,022		16,662
Buildings	27,821			27,898
Leasehold improvements	140			140
Furniture and equipment	8,605			7,115
Automobiles	280			112
Construction-in-progress	2,091			3
	55,959			51,930
Less accumulated depreciation	(13,859		)	(11,807	)
	$	42,100		40,123

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Acquired Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of 50% owned subsidiaries in 2005.

	In Thousands
	2015		2014
Goodwill:
Balance at January 1,	$	4,805	4,805
Goodwill acquired during year	—		—
Impairment loss	—		—
Balance at December 31,	$	4,805	4,805

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Deposits (Tables)

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

Deposits

Deposits at December 31, 2015 and 2014 are summarized as follows:

	In Thousands
	2015		2014
Demand deposits	$	197,062	155,721
Savings accounts	107,829		102,432
Negotiable order of withdrawal accounts	445,967		375,967
Money market demand accounts	523,895		479,549
Certificates of deposit $100,000 or greater	220,151		229,709
Other certificates of deposit	208,359		225,766
Individual retirement accounts $100,000 or greater	38,058		40,590
Other individual retirement accounts	48,529		50,536
	$	1,789,850	1,660,270

Principal Maturities of Certificate of Deposit and Individual Retirement Accounts

Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2015 are as follows:

	(In Thousands)
Maturity	Total
2016	$	232,189
2017	132,540
2018	93,092
2019	35,463
2020	21,305
Thereafter	508
	$	515,097

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Non-Interest Income and Non-Interest Expense (Tables)

12 Months Ended

Dec. 31, 2015

Other Income and Expenses [Abstract]

Components of Non-Interest Income and Non-Interest Expense

The significant components of non-interest income and non-interest expense for the years ended December 31, 2015, 2014 and 2013 are presented below:

	In Thousands
	2015		2014		2013
Non-interest income:
Service charges on deposits	$	5,148	$	4,374	4,090
Other fees and commissions	9,321		8,519		7,651
BOLI and annuity earnings	877		376		75
Security gains, net	185		545		78
Fees and gains on sales of loans	4,048		2,780		3,298
Gain on sale of other real estate, net	362		77		—
Gain on sale of fixed assets, net	—		7		12
	$	19,941	$	16,678	15,204

	In Thousands
	2015		2014		2013
Non-interest expense:
Employee salaries and benefits	$	31,556	$	27,793	25,697
Occupancy expenses	3,444		3,100		2,715
Furniture and equipment expenses	2,063		1,767		1,406
Loss on the sale of fixed assets, net	53		—		—
Loss on sales of other assets, net	2		6		3
Write downs and loss on sales of other real estate, net	—		—		1,642
Data processing expenses	2,476		2,313		1,902
FDIC insurance	953		1,049		1,220
Directors’ fees	735		720		707
Other operating expenses	10,877		10,957		13,495
	$	52,159	$	47,705	48,787

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of the Net Deferred Tax Asset

The components of the net deferred tax asset are as follows:

	In Thousands
	2015			2014
Deferred tax asset:
Federal	$	8,954		9,818
State	1,380			1,556
	10,334			11,374
Deferred tax liability:
Federal	(1,905		)	(1,829	)
State	(390		)	(374	)
	(2,295		)	(2,203	)
Net deferred tax asset	$	8,039		9,171

Deferred Tax Assets (Liabilities) in Which Tax Effects of Significant Item that Gave Rise

The tax effects of each type of significant item that gave rise to deferred tax assets (liabilities) are:

	In Thousands
	2015			2014
Financial statement allowance for loan losses in excess of tax allowance	$	8,317		8,191
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements	(1,815		)	(1,723	)
Financial statement deduction for deferred compensation in excess of deduction for tax purposes	1,174			1,010
Writedown of other real estate not deductible for income tax purposes until sold	162			1,024
Financial statement income on FHLB stock dividends not recognized for tax purposes	(480		)	(480	)
Unrealized loss on securities available-for-sale	528			421
Other items, net	153			728
	$	8,039		9,171

Summary of Components of Income Tax Expense (Benefit)

The components of income tax expense are summarized as follows:

	In Thousands
	Federal		State	Total
2015
Current	$	10,871	1,653	12,524
Deferred	1,028		210	1,238
Total	$	11,899	1,863	13,762
2014
Current	$	10,201	1,475	11,676
Deferred	526		108	634
Total	$	10,727	1,583	12,310
2013
Current	$	7,193	1,045	8,238
Deferred	898		170	1,068
Total	$	8,091	1,215	9,306

Reconciliation of Actual Income Tax Expense to the Expected Tax Expense

A reconciliation of actual income tax expense of $13,762,000, $12,310,000 and $9,306,000 for the years ended December 31, 2015, 2014 and 2013, respectively, to the “expected” tax expense (computed by applying the statutory rate of 34% to earnings before income taxes) is as follows:

	In Thousands
	2015			2014		2013
Computed “expected” tax expense	$	12,793		11,250		8,559
State income taxes, net of Federal income tax benefit	1,243			1,029		937
Tax exempt interest, net of interest expense exclusion	(266		)	(244	)	(234	)
Federal income tax rate in excess of statutory rate related to taxable income over $10 million	312			290		204
Earnings on cash surrender value of life insurance	(298		)	(128	)	(25	)
Expenses not deductible for tax purposes	35			37		35
Stock based compensation expense	13			14		11
Other	(70		)	62		(181	)
	$	13,762		12,310		9,306

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Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Rental Payments Under Operating Leases

Wilson Bank leases land for certain branch facilities and automatic teller machine locations. Future minimum rental payments required under the terms of the noncancellable leases are as follows:

Years Ending December 31,	In Thousands
2016	$	141
2017	77
2018	50
2019	53
2020	56

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Financial Instruments with Off-Balance-Sheet Risk (Tables)

12 Months Ended

Dec. 31, 2015

Investments, All Other Investments [Abstract]

Financial Instruments Whose Contract Amounts Represent Credit Risk

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
	2015		2014
Financial instruments whose contract amounts represent credit risk:
Unused commitments to extend credit	$	391,553	307,332
Standby letters of credit	36,631		33,447
Total	$	428,184	340,779

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Regulatory Matters and Restrictions on Dividends (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Actual Capital Amounts and Ratios, Regulatory Capital Ratios and Basel III Minimum Requirements

The Company’s and Wilson Bank’s actual capital amounts and ratios as of December 31, 2015 and 2014, are also presented in the table:

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2015
Total capital to risk weighted assets:
Consolidated	$	240,848	14.1	%	$	136,588	8.0	%	$	170,736	10.0	%
Wilson Bank	238,963		14.0		136,575		8.0		170,719		10.0
Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		102,441		6.0		136,588		8.0
Wilson Bank	217,600		12.8		102,431		6.0		136,575		8.0
Common equity Tier 1 capital to risk weighted assets:
Consolidated	219,483		12.9		76,831		4.5		110,978		6.5
Wilson Bank	217,600		12.8		76,823		4.5		110,967		6.5
Tier 1 capital to average assets:
Consolidated	219,483		11.1		79,361		4.0		N/A		N/A
Wilson Bank	217,600		11.0		79,354		4.0		99,192		5.0

	Actual				Regulatory Minimum Capital Requirement				Regulatory Minimum To Be Well Capitalized
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
December 31, 2014
Total capital to risk weighted assets:
Consolidated	$	214,779	15.0	%	$	114,549	8.0	%	$	143,186	10.0	%
Wilson Bank	213,447		14.9		114,602		8.0		143,253		10.0
Tier 1 capital to risk weighted assets:
Consolidated	196,765		13.7		57,450		4.0		86,174		6.0
Wilson Bank	195,433		13.6		57,480		4.0		86,220		6.0
Tier 1 capital to average assets:
Consolidated	196,765		10.6		74,251		4.0		N/A		N/A
Wilson Bank	195,433		10.5		74,451		4.0		93,063		5.0

Basel III Requirements [Member]

Summary of Actual Capital Amounts and Ratios, Regulatory Capital Ratios and Basel III Minimum Requirements

The Basel III minimum requirements after giving effect to the buffer are as follows:

	2016		2017		2018		2019
Common Equity Tier I Ratio	5.125	%	5.75	%	6.375	%	7.0	%
Tier I Capital to Risk Weighted Assets Ratio	6.625	%	7.25	%	7.875	%	8.5	%
Total Capital to Risk Weighted Assets Ratio	8.625	%	9.25	%	9.875	%	10.5	%

Common Equity Tier I Ratio [Member]

Summary of Actual Capital Amounts and Ratios, Regulatory Capital Ratios and Basel III Minimum Requirements

A summary of the changes to the Regulatory Capital Ratios are as follows:

	Guideline in Effect At 12/31/2014				Basel III Requirements
	Minimum		Well Capitalized		Minimum		Well Capitalized
Common Equity Tier I Ratio (Common Equity to Risk Weighted Assets)	Not Applicable		Not Applicable		4.5	%	6.5	%
Tier I Capital to Risk Weighted Assets	4	%	6	%	6	%	8	%
Total Capital to Risk Weighted Assets	8	%	10	%	8	%	10	%
Tier I Leverage Ratio	4	%	5	%	4	%	5	%

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Stock Option Plan (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Weighted-Average Black-Scholes Fair Value Assumptions

The fair value of each 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 2015, 2014 and 2013:

	2015		2014		2013
Expected dividends	1.00	%	1.11	%	1.12	%
Expected term (in years)	8.96		9.33		9.56
Expected volatility	22	%	23	%	25	%
Risk-free rate	2.02	%	2.62	%	2.04	%

Summary of Stock Option Activity

A summary of the stock option activity for 2015, 2014 and 2013 is as follows:

	2015				2014				2013
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of year	43,569		$	38.03	47,654		$	36.43	48,987		$	34.24
Granted	3,250		48.30		3,250		45.75		5,500		44.16
Exercised	(7,633	)	31.58		(6,144	)	30.24		(5,973	)	26.00
Forfeited or expired	(1,767	)	37.63		(1,191	)	35.36		(860	)	33.07
Outstanding at end of year	37,419		$	40.25	43,569		$	38.03	47,654		$	36.43
Options exercisable at year end	9,814		$	38.06	12,064		$	34.59	12,009		$	32.35

Summary of Information about Stock Options

The following table summarizes information about stock options outstanding at December 31, 2015:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Number Exercisable at 12/31/15		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term
$ 26.63 - $ 35.75	5,946		33.21	2.03 years	2,853		33.44	1.97 years
$ 37.75 - $ 48.95	31,473		41.58	5.91 years	6,961		39.96	4.92 years
	37,419				9,814
Aggregate intrinsic value (in thousands)	$	370			$	119

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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Summary of Components Comprising Basic and Diluted Earnings Per Share

The following is a summary of the components comprising basic and diluted earnings per share (“EPS”):

	In Thousands (except share data)
	2015		2014		2013
Basic EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator - Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Basic earnings per common share	$	3.13	2.75		2.12
Diluted EPS Computation:
Numerator - Earnings available to common stockholders	$	23,863	20,777		15,869
Denominator:
Weighted average number of common shares outstanding	7,624,108		7,547,087		7,472,373
Dilutive effect of stock options	3,527		4,393		4,798
	7,627,635		7,551,480		7,477,171
Diluted earnings per common share	$	3.13	$	2.75	$	2.12

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Disclosures About Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the financial instruments carried at fair value as of December 31, 2015 and December 31, 2014, 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, 2015
Investment securities available-for-sale:
U.S. Government sponsored enterprises	$	76,909	—	76,909	—
Mortgage-backed securities	191,915		—	191,915	—
Asset-backed securities	31,034		—	31,034	—
State and municipal securities	31,270		—	31,270	—
Total investment securities available-for-sale	331,128		—	331,128	—
Loans Held for Sale	10,135		—	10,135	—
Other assets	26,672		—	—	26,672
Total assets at fair value	$	367,935	—	341,263	26,672

	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, 2014
Investment securities available-for-sale:
U.S. Government sponsored enterprises and agency-backed	$	130,567	—	130,567	—
Mortgage-backed securities	171,069		—	171,069	—
Asset-backed securities	30,520		—	30,520	—
State and municipal securities	14,264		—	14,264	—
Total investment securities available-for-sale	346,420		—	346,420	—
Loans held for sale	9,466		—	9,466	—
Other assets	17,331		—	—	17,331
Total assets at fair value	$	373,217	—	355,886	17,331

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

	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, 2015
Other real estate owned	$	5,410	—	—	5,410
Impaired loans, net (¹)	8,436		—	—	8,436
Total	$	13,846	—	—	13,846
December 31, 2014
Other real estate owned	$	7,298	—	—	7,298
Impaired loans, net (¹)	8,945		—	—	8,945
Total	$	16,243	—	—	16,243

(1) Amount is net of a valuation allowance of $194,000 at December 31, 2015 and $1,631,000 at December 31, 2014 as required by ASC 310, “Receivables.”

Changes in Fair Value Due to Observable Factors

The table below includes a rollforward of the balance sheet amounts for the year ended December 31, 2015 and 2014 (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,
	2015			2014
	Other Assets		Other Liabilities	Other Assets		Other Liabilities
Fair value, January 1	$	17,331	—	$	11,390	—
Total realized gains included in income	877		—	376		—
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	—		—	—		—
Purchases, issuances and settlements, net	8,464		—	5,565		—
Transfers out of Level 3	—		—	—		—
Fair value, December 31	$	26,672	—	$	17,331	—
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	$	877	—	$	376	—

Carrying Value and Estimated Fair Value of Financial Instruments

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, 2015 and December 31, 2014. 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, 2015
Financial assets:
Securities held-to-maturity	$	28,195	28,365	—	28,365	—
Loans, net	1,443,179		1,443,738	—	—	1,443,738
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,791,885		1,549,414	—	—	1,549,414
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—
December 31, 2014
Financial assets:
Securities held-to-maturity	$	28,123	28,400	—	28,400	—
Loans, net	1,329,865		1,346,569	—	—	1,346,569
Financial liabilities:
Deposits and securities sold under agreements to repurchase	1,663,707		1,530,607	—	—	1,530,607
Off-balance sheet instruments:
Commitments to extend credit	—		—	—	—	—
Standby letters of credit	—		—	—	—	—

(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.

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Wilson Bank Holding Company - Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Balance Sheets - Parent Company Only

Balance Sheets

December 31, 2015 and 2014

	Dollars In Thousands
	2015				2014
ASSETS
Cash	$	1,685		*	1,120		*
Investment in wholly-owned commercial bank subsidiary	221,555				199,560
Refundable income taxes	198				212
Total assets	$	223,438			200,892
LIABILITIES AND STOCKHOLDERS’ EQUITY
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	$	15,304			15,144
Additional paid-in capital	61,339				57,709
Retained earnings	147,646				128,718
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively	(851		)		(679	)
Total stockholders’ equity	223,438				200,892
Total liabilities and stockholders’ equity	$	223,438			200,892

* Eliminated in consolidation.

Statements of Earnings and Comprehensive Earnings - Parent Company Only

Statements of Earnings and Comprehensive Earnings

Three Years Ended December 31, 2015

	Dollars In Thousands
	2015				2014			2013
Expenses:
Directors’ fees	$	350			351			337
Other	152				191			83
Loss before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary	(502		)		(542	)		(420	)
Federal income tax benefits	198				212			173
	(304		)		(330	)		(247	)
Equity in undistributed earnings of commercial bank subsidiary	24,167			*	21,107		*	16,116		*
Net earnings	23,863				20,777			15,869
Other comprehensive earnings (losses), net of tax:
Net unrealized gains (losses) on available-for-sale- securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively	(58		)		3,953			(6,820	)
Reclassification adjustments for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively	(114		)		(336	)		(48	)
Other comprehensive earnings (losses)	(172		)		3,617			(6,868	)
Comprehensive earnings	$	23,691			24,394			9,001

* Eliminated in consolidation

Statements of Changes in Stockholders' Equity - Parent Company Only

Statements of Changes in Stockholders’ Equity

Three Years Ended December 31, 2015

	Dollars In Thousands
	Common Stock			Additional Paid-In Capital		Retained Earnings		Net Unrealized Gain (Loss) On Available-For-Sale Securities		Total
Balance December 31, 2012	$	14,838		51,242		101,046		2,572		169,698
Cash dividends declared, $.60 per share	—			—		(4,464	)	—		(4,464	)
Issuance of 73,411 shares of stock pursuant to dividend reinvestment plan	147			3,101		—		—		3,248
Issuance of 5,973 shares of stock pursuant to exercise of stock options	12			144		—		—		156
Share based compensation expense	—			32		—		—		32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261	—			—		—		(6,868	)	(6,868	)
Net earnings for the year	—			—		15,869		—		15,869
Balance December 31, 2013	14,997			54,519		112,451		(4,296	)	177,671
Cash dividends declared, $.60 per share	—			—		(4,510	)	—		(4,510	)
Issuance of 69,289 shares of stock pursuant to dividend reinvestment plan	139			3,065		—		—		3,204
Issuance of 6,144 shares of stock pursuant to exercise of stock options	12			174		—		—		186
Share based compensation expense	—			41		—		—		41
Net change in fair value of available-for-sale securities during the year, net of taxes of $2,245	—			—		—		3,617		3,617
Repurchase of 2,053 common shares	(4		)	(90	)					(94	)
Net earnings for the year	—			—		20,777		—		20,777
Balance December 31, 2014	15,144			57,709		128,718		(679	)	200,892
Cash dividends declared, $.65 per share	—			—		(4,935	)	—		(4,935	)
Issuance of 72,543 shares of stock pursuant to dividend reinvestment plan	145			3,366		—		—		3,511
Issuance of 7,633 shares of stock pursuant to exercise of stock options	15			226		—		—		241
Share based compensation expense	—			38		—		—		38
Net change in fair value of available-for-sale securities during the year, net of taxes of $106	—			—		—		(172	)	(172	)
Net earnings for the year	—			—		23,863		—		23,863
Balance December 31, 2015	$	15,304		61,339		147,646		(851	)	223,438

Statements of Cash Flows - Parent Company Only

Statements of Cash Flows

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars In Thousands
	2015			2014		2013
Cash flows from operating activities:
Cash paid to suppliers and other	$	(464	)	(501	)	(388	)
Tax benefits received	212			173		173
Net cash used in operating activities	(252		)	(328	)	(215	)
Cash flows from investing activities:
Dividends received from commercial bank subsidiary	2,000			—		2,600
Net cash provided by investing activities	2,000			—		2,600
Cash flows from financing activities:
Dividends paid	(4,935		)	(4,510	)	(4,464	)
Proceeds from sale of stock pursuant to dividend reinvestment	3,511			3,204		3,248
Proceeds from exercise of stock options	241			186		156
Common shares repurchased	—			(94	)	—
Net cash used in financing activities	(1,183		)	(1,214	)	(1,060	)
Net increase (decrease) in cash and cash equivalents	565			(1,542	)	1,325
Cash and cash equivalents at beginning of year	1,120			2,662		1,337
Cash and cash equivalents at end of year	$	1,685		1,120		2,662

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows, Continued

Three Years Ended December 31, 2015

Increase (Decrease) in Cash and Cash Equivalents

	Dollars in Thousands
	2015			2014		2013
Reconciliation of net earnings to net cash used in operating activities:
Net earnings	$	23,863		20,777		15,869
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of commercial bank subsidiary	(24,167		)	(21,107	)	(16,116	)
Decrease (increase) in refundable income taxes	14			(39	)	—
Share based compensation expense	38			41		32
Total adjustments	(24,115		)	(21,105	)	(16,084	)
Net cash used in operating activities	$	(252	)	(328	)	(215	)

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Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations for the Four Quarters

Selected quarterly results of operations for the four quarters ended December 31 are as follows:

	(In Thousands, except per share data)
	2015					2014					2013
	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter		Third Quarter	Second Quarter	First Quarter	Fourth Quarter	Third Quarter	Second Quarter	First Quarter
Interest income	$	20,213	19,982	19,617	19,027	$	19,180	18,980	18,286	17,934	18,315	17,930	17,749	17,820
Net interest income	18,126		17,868	17,426	16,811	16,783		16,554	15,849	15,426	15,704	15,263	15,001	14,967
Provision for loan losses	123		109	81	75	134		87	28	249	15	738	755	669
Earnings before income taxes	8,720		9,862	9,889	9,154	8,888		8,772	8,503	6,924	6,514	7,115	6,684	4,862
Net earnings	5,958		6,088	6,201	5,616	6,100		5,351	5,154	4,172	4,163	4,481	4,247	2,978
Basic earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.56	0.60	0.57	0.40
Diluted earnings per common share	0.78		0.80	0.81	0.74	0.81		0.71	0.68	0.55	0.55	0.60	0.57	0.40

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Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($) Branch SecurityLoan Securities Component	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Significant Accounting Policies [Line Items]
Number of full service branches | Branch	25
Loan review target (as a percent)	100.00%
Existing loan review, Aggregate	$ 1,000,000
New loan review, Aggregate	$ 500,000
Number of loans renewed | SecurityLoan	4
Securities classified as trading securities | Securities	0
Federal Home Loan Bank Stock minimum required investment	$ 2,235,000
Impairment loss recognized related to Goodwill	$ 0	$ 0
Federal fund maturity period	1 day
Number of components of income tax expense | Component	2
Deferred income tax benefit realizable (as a percent)	50.00%
Tax benefit (as a percent)	50.00%
Advertising costs Incurred	$ 2,337,000	$ 1,884,000	$ 2,104,000
Residential 1-4 Family [Member]
Significant Accounting Policies [Line Items]
Percentage of Investment	24.00%	26.00%
Construction Mortgage Loans [Member]
Significant Accounting Policies [Line Items]
Percentage of Investment	19.00%	18.00%
Commercial Real Estate [Member]
Significant Accounting Policies [Line Items]
Percentage of Investment	43.00%	42.00%
Mortgage and Commercial Loans [Member]
Significant Accounting Policies [Line Items]
Accruing loans past due period	90 days
Credit Card Loans and Other Personal Loans [Member]
Significant Accounting Policies [Line Items]
Accruing loans past due period	180 days
Residential Property Real Estate Loan [Member]
Significant Accounting Policies [Line Items]
Total amount of foreclosed residential real property	$ 550,000	$ 456,000

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Loans and Allowance for Loan Losses - Schedule of Details on Loans of Company (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage loans on real estate:
Total mortgage loans on real estate	$ 1,386,308	$ 1,273,553
Commercial loans	30,537	30,000
Agriculture loans	1,552	1,670
Consumer installment loans:
Total consumer installment loans	43,467	41,025
Other loans	9,250	10,530
Total Loans	1,471,114	1,356,778
Net deferred loan fees	(5,035)	(4,341)
Total loans	1,466,079	1,352,437
Less: Allowance for loan losses	(22,900)	(22,572)	$ (22,935)
Loans, net	1,443,179	1,329,865
Residential 1-4 Family [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	349,631	350,758
Consumer installment loans:
Total Loans	349,631	350,758
Less: Allowance for loan losses	(5,024)	(5,582)	(4,935)
Multifamily [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	49,564	31,242
Consumer installment loans:
Total Loans	49,564	31,242
Less: Allowance for loan losses	(619)	(172)	(77)
Commercial Real Estate [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	625,623	564,965
Consumer installment loans:
Total Loans	625,623	564,965
Less: Allowance for loan losses	(9,986)	(9,578)	(10,918)
Construction [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	275,319	245,830
Consumer installment loans:
Total Loans	275,319	245,830
Less: Allowance for loan losses	(5,136)	(5,578)	(5,159)
Farmland [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	32,114	30,236
Consumer installment loans:
Total Loans	32,114	30,236
Less: Allowance for loan losses	(654)	(795)	(618)
Second Mortgages [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	7,551	9,026
Consumer installment loans:
Total Loans	7,551	9,026
Less: Allowance for loan losses	(106)	(61)	(205)
Equity Lines of Credit [Member]
Mortgage loans on real estate:
Total mortgage loans on real estate	46,506	41,496
Consumer installment loans:
Total Loans	46,506	41,496
Less: Allowance for loan losses	(594)	(304)	$ (300)
Personal [Member]
Consumer installment loans:
Total consumer installment loans	40,196	37,745
Credit Cards [Member]
Consumer installment loans:
Total consumer installment loans	$ 3,271	$ 3,280

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Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) Loans	Dec. 31, 2014 USD ($) Loans	Dec. 31, 2013 USD ($)
Financing Receivable, Recorded Investment [Line Items]
Variable rate loans	$ 970,428	$ 863,474
Fixed rate loans	500,686	488,963
Prevailing interest rate loans	6,576	11,744	$ 10,821
Fees paid to director			237
Nonaccrual loans interest lost	$ 291	$ 39
Troubled debt restructuring number of loans | Loans	2	2
Troubled debt restructurings subsequently default within twelve months	$ 1,060	$ 844
Loans in secondary market	153,882	105,078	109,131
Gain on sale of loans in secondary market	4,048	2,780	$ 3,298
Loans sold with recourse	111,521	79,682
Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Potential problem loans	$ 25,200	$ 35,800
Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Amortization term, lower range	15 years
Amortization term, upper range	30 years
Maturity period, lower range	5 years
Maturity period, upper range	15 years

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Loans and Allowance for Loan Losses - Schedule of Loans and Leases Receivable Related Parties (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance, January 1	$ 11,744	$ 10,821
New loans and renewals during the year	12,329	9,406
Repayments (including loans paid by renewal) during the year	(17,497)	(8,483)
Balance, December 31	$ 6,576	$ 11,744

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Loans and Allowance for Loan Losses - Company's Impaired Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Recorded Investment	$ 8,630	$ 10,576
Unpaid Principal Balance	8,605	13,041
Related Allowance	194	1,631
Average Recorded Investment	11,037	17,660
Interest Income Recognized	207	482
With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	7,796	3,524
Unpaid Principal Balance	7,778	4,322
Average Recorded Investment	6,689	7,960
Interest Income Recognized	160	212
With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	834	7,052
Unpaid Principal Balance	827	8,719
Related Allowance	194	1,631
Average Recorded Investment	4,348	9,700
Interest Income Recognized	47	270
Residential 1-4 Family [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,467	3,110
Unpaid Principal Balance	1,449	3,061
Related Allowance	194	376
Average Recorded Investment	1,509	2,444
Interest Income Recognized	86	175
Residential 1-4 Family [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	633	1,891
Unpaid Principal Balance	622	1,854
Average Recorded Investment	724	1,081
Interest Income Recognized	39	114
Residential 1-4 Family [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	834	1,219
Unpaid Principal Balance	827	1,207
Related Allowance	194	376
Average Recorded Investment	785	1,363
Interest Income Recognized	47	61
Multifamily [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Multifamily [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Multifamily [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Construction [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,943	0
Unpaid Principal Balance	1,938	0
Related Allowance	0	0
Average Recorded Investment	486	2,488
Interest Income Recognized	97	0
Construction [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	1,943	0
Unpaid Principal Balance	1,938	0
Average Recorded Investment	486	673
Interest Income Recognized	97	0
Construction [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	1,815
Interest Income Recognized	0	0
Farmland [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	575	702
Unpaid Principal Balance	575	701
Related Allowance	0	120
Average Recorded Investment	575	767
Interest Income Recognized	0	7
Farmland [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	575	0
Unpaid Principal Balance	575	0
Average Recorded Investment	431	0
Interest Income Recognized	0	0
Farmland [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	702
Unpaid Principal Balance	0	701
Related Allowance	0	120
Average Recorded Investment	144	767
Interest Income Recognized	0	7
Equity Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Equity Lines of Credit [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Equity Lines of Credit [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Commercial [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Commercial [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Agricultural, Installment and Other [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Agricultural, Installment and Other [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Agricultural, Installment and Other [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	0	0
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4,645	6,483
Unpaid Principal Balance	4,643	8,999
Related Allowance	0	1,135
Average Recorded Investment	8,467	11,739
Interest Income Recognized	24	297
Commercial Real Estate [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	4,645	1,352
Unpaid Principal Balance	4,643	2,188
Average Recorded Investment	5,048	5,984
Interest Income Recognized	24	95
Commercial Real Estate [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	5,131
Unpaid Principal Balance	0	6,811
Related Allowance	0	1,135
Average Recorded Investment	3,419	5,755
Interest Income Recognized	0	202
Second Mortgages [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	281
Unpaid Principal Balance	0	280
Related Allowance	0	0
Average Recorded Investment	0	222
Interest Income Recognized	0	3
Second Mortgages [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	281
Unpaid Principal Balance	0	280
Average Recorded Investment	0	222
Interest Income Recognized	0	3
Second Mortgages [Member] | With Allowance Recorded [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	0	0
Unpaid Principal Balance	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Income Recognized	$ 0	$ 0

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Loans and Allowance for Loan Losses - Loans on Nonaccrual Status (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	$ 4,909	$ 616
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	4,293	0
Second Mortgages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	0	0
Residential 1-4 Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	41	42
Multifamily [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	0	0
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	0	0
Farmland [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	575	574
Equity Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	0	0
Mortgage and Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	0	0
Agricultural, Installment and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans on Nonaccrual Status, Total	$ 0	$ 0

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Loans and Allowance for Loan Losses - Credit Quality Indicators (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Credit Risk Profile by Internally Assigned Grade
Total Loans	$ 1,471,114	$ 1,356,778
Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	1,445,897	1,320,970
Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	16,062	23,970
Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	9,155	11,838
Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Residential 1-4 Family [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	349,631	350,758
Residential 1-4 Family [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	340,019	339,529
Residential 1-4 Family [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	6,957	7,681
Residential 1-4 Family [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	2,655	3,548
Residential 1-4 Family [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Multifamily [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	49,564	31,242
Multifamily [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	49,564	31,242
Multifamily [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Multifamily [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Multifamily [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Commercial Real Estate [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	625,623	564,965
Commercial Real Estate [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	612,318	545,301
Commercial Real Estate [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	8,227	13,313
Commercial Real Estate [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	5,078	6,351
Commercial Real Estate [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Construction [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	275,319	245,830
Construction [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	274,926	243,416
Construction [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	277	2,362
Construction [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	116	52
Construction [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Farmland [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	32,114	30,236
Farmland [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	30,933	29,260
Farmland [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	200	57
Farmland [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	981	919
Farmland [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Second Mortgages [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	7,551	9,026
Second Mortgages [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	7,097	8,007
Second Mortgages [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	353	347
Second Mortgages [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	101	672
Second Mortgages [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Equity Lines of Credit [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	46,506	41,496
Equity Lines of Credit [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	46,361	41,274
Equity Lines of Credit [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	176
Equity Lines of Credit [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	145	46
Equity Lines of Credit [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Mortgage and Commercial Loans [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	30,537	30,000
Mortgage and Commercial Loans [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	30,525	29,893
Mortgage and Commercial Loans [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	10	18
Mortgage and Commercial Loans [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	2	89
Mortgage and Commercial Loans [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	0	0
Agricultural, Installment and Other [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	54,269	53,225
Agricultural, Installment and Other [Member] | Pass [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	54,154	53,048
Agricultural, Installment and Other [Member] | Special Mention [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	38	16
Agricultural, Installment and Other [Member] | Substandard [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	77	161
Agricultural, Installment and Other [Member] | Doubtful [Member]
Credit Risk Profile by Internally Assigned Grade
Total Loans	$ 0	$ 0

XML

Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	$ 5,244	$ 9,500
60-89 Days Past Due	1,652	1,752
Nonaccrual and Greater Than 90 Days	6,887	2,157
Total Nonaccrual and Past Due	13,783	13,409
Current	1,457,331	1,343,369
Total Loans	1,471,114	1,356,778
Recorded Investment Greater Than 90 Days and Accruing	1,978	1,541
Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	3,272	6,166
60-89 Days Past Due	1,198	1,275
Nonaccrual and Greater Than 90 Days	1,412	1,352
Total Nonaccrual and Past Due	5,882	8,793
Current	343,749	341,965
Total Loans	349,631	350,758
Recorded Investment Greater Than 90 Days and Accruing	1,371	1,310
Multifamily [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	0	0
60-89 Days Past Due	0	0
Nonaccrual and Greater Than 90 Days	0	0
Total Nonaccrual and Past Due	0	0
Current	49,564	31,242
Total Loans	49,564	31,242
Recorded Investment Greater Than 90 Days and Accruing	0	0
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	172	2,151
60-89 Days Past Due	0	242
Nonaccrual and Greater Than 90 Days	4,293	19
Total Nonaccrual and Past Due	4,465	2,412
Current	621,158	562,553
Total Loans	625,623	564,965
Recorded Investment Greater Than 90 Days and Accruing	0	19
Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	958	125
60-89 Days Past Due	230	91
Nonaccrual and Greater Than 90 Days	0	73
Total Nonaccrual and Past Due	1,188	289
Current	274,131	245,541
Total Loans	275,319	245,830
Recorded Investment Greater Than 90 Days and Accruing	0	73
Farmland [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	88	88
60-89 Days Past Due	21	0
Nonaccrual and Greater Than 90 Days	886	594
Total Nonaccrual and Past Due	995	682
Current	31,119	29,554
Total Loans	32,114	30,236
Recorded Investment Greater Than 90 Days and Accruing	311	20
Second Mortgages [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	87	286
60-89 Days Past Due	0	18
Nonaccrual and Greater Than 90 Days	4	70
Total Nonaccrual and Past Due	91	374
Current	7,460	8,652
Total Loans	7,551	9,026
Recorded Investment Greater Than 90 Days and Accruing	4	70
Equity Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	283	346
60-89 Days Past Due	89	0
Nonaccrual and Greater Than 90 Days	197	5
Total Nonaccrual and Past Due	569	351
Current	45,937	41,145
Total Loans	46,506	41,496
Recorded Investment Greater Than 90 Days and Accruing	197	5
Mortgage and Commercial Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	2	37
60-89 Days Past Due	0	0
Nonaccrual and Greater Than 90 Days	39	0
Total Nonaccrual and Past Due	41	37
Current	30,496	29,963
Total Loans	30,537	30,000
Recorded Investment Greater Than 90 Days and Accruing	39	0
Agricultural, Installment and Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
30-59 Days Past Due	382	301
60-89 Days Past Due	114	126
Nonaccrual and Greater Than 90 Days	56	44
Total Nonaccrual and Past Due	552	471
Current	53,717	52,754
Total Loans	54,269	53,225
Recorded Investment Greater Than 90 Days and Accruing	$ 56	$ 44

XML

Loans and Allowance for Loan Losses - Transactions in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Allowance for loan losses:
Beginning balance	$ 22,572	$ 22,935
Provision	388	498
Charge-offs	(1,104)	(1,867)
Recoveries	1,044	1,006
Ending balance	22,900	22,572
Ending balance individually evaluated for impairment	194	1,631
Ending balance collectively evaluated for impairment	22,706	20,941
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	1,471,114	1,356,778
Ending balance individually evaluated for impairment	8,605	10,497
Ending balance collectively evaluated for impairment	1,462,509	1,346,281
Ending balance loans acquired with deteriorated credit quality	0	0
Residential 1-4 Family [Member]
Allowance for loan losses:
Beginning balance	5,582	4,935
Provision	(290)	1,059
Charge-offs	(311)	(468)
Recoveries	43	56
Ending balance	5,024	5,582
Ending balance individually evaluated for impairment	194	376
Ending balance collectively evaluated for impairment	4,830	5,206
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	349,631	350,758
Ending balance individually evaluated for impairment	1,449	3,061
Ending balance collectively evaluated for impairment	348,182	347,697
Ending balance loans acquired with deteriorated credit quality	0	0
Multifamily [Member]
Allowance for loan losses:
Beginning balance	172	77
Provision	447	95
Charge-offs	0	0
Recoveries	0	0
Ending balance	619	172
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	619	172
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	49,564	31,242
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	49,564	31,242
Ending balance loans acquired with deteriorated credit quality	0	0
Commercial Real Estate [Member]
Allowance for loan losses:
Beginning balance	9,578	10,918
Provision	(267)	(378)
Charge-offs	(44)	(968)
Recoveries	719	6
Ending balance	9,986	9,578
Ending balance individually evaluated for impairment	0	1,135
Ending balance collectively evaluated for impairment	9,986	8,443
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	625,623	564,965
Ending balance individually evaluated for impairment	4,643	6,455
Ending balance collectively evaluated for impairment	620,980	558,510
Ending balance loans acquired with deteriorated credit quality	0	0
Construction [Member]
Allowance for loan losses:
Beginning balance	5,578	5,159
Provision	(455)	102
Charge-offs	(26)	(7)
Recoveries	39	324
Ending balance	5,136	5,578
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	5,136	5,578
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	275,319	245,830
Ending balance individually evaluated for impairment	1,938	0
Ending balance collectively evaluated for impairment	273,381	245,830
Ending balance loans acquired with deteriorated credit quality	0	0
Farmland [Member]
Allowance for loan losses:
Beginning balance	795	618
Provision	(142)	176
Charge-offs	0	0
Recoveries	1	1
Ending balance	654	795
Ending balance individually evaluated for impairment	0	120
Ending balance collectively evaluated for impairment	654	675
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	32,114	30,236
Ending balance individually evaluated for impairment	575	701
Ending balance collectively evaluated for impairment	31,539	29,535
Ending balance loans acquired with deteriorated credit quality	0	0
Second Mortgages [Member]
Allowance for loan losses:
Beginning balance	61	205
Provision	87	(164)
Charge-offs	(45)	0
Recoveries	3	20
Ending balance	106	61
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	106	61
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	7,551	9,026
Ending balance individually evaluated for impairment	0	280
Ending balance collectively evaluated for impairment	7,551	8,746
Ending balance loans acquired with deteriorated credit quality	0	0
Equity Lines of Credit [Member]
Allowance for loan losses:
Beginning balance	304	300
Provision	303	3
Charge-offs	(14)	0
Recoveries	1	1
Ending balance	594	304
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	594	304
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	46,506	41,496
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	46,506	41,496
Ending balance loans acquired with deteriorated credit quality	0	0
Mortgage and Commercial Loans [Member]
Allowance for loan losses:
Beginning balance	176	395
Provision	118	(641)
Charge-offs	0	(37)
Recoveries	7	459
Ending balance	301	176
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	301	176
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	30,537	30,000
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	30,537	30,000
Ending balance loans acquired with deteriorated credit quality	0	0
Agricultural, Installment and Other [Member]
Allowance for loan losses:
Beginning balance	326	328
Provision	587	246
Charge-offs	(664)	(387)
Recoveries	231	139
Ending balance	480	326
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	480	326
Ending balance loans acquired with deteriorated credit quality	0	0
Loans:
Ending balance	54,269	53,225
Ending balance individually evaluated for impairment	0	0
Ending balance collectively evaluated for impairment	54,269	53,225
Ending balance loans acquired with deteriorated credit quality	$ 0	$ 0

XML

Loans and Allowance for Loan Losses - Summary of Carrying Balances of TDRs (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Trouble Debt Restructured Loans [Line Items]
Total TDRS	$ 4,104	$ 8,040
Performing Financing Receivable [Member]
Trouble Debt Restructured Loans [Line Items]
Total TDRS	983	5,448
Nonperforming [Member]
Trouble Debt Restructured Loans [Line Items]
Total TDRS	$ 3,121	$ 2,592

XML

Loans and Allowance for Loan Losses - Troubled Debt Restructuring Categorized by Loan (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) Contract	Dec. 31, 2014 USD ($) Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	4	10
Pre Modification Outstanding Recorded Investment	$ 2,017	$ 2,370
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 2,016	$ 2,242
Residential 1-4 Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	2	6
Pre Modification Outstanding Recorded Investment	$ 77	$ 1,346
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 77	$ 1,218
Multifamily [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	0
Pre Modification Outstanding Recorded Investment	$ 0	$ 0
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 0
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	2
Pre Modification Outstanding Recorded Investment	$ 0	$ 1,020
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 1,020
Construction [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1	0
Pre Modification Outstanding Recorded Investment	$ 1,938	$ 0
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 1,938	$ 0
Farmland [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	0
Pre Modification Outstanding Recorded Investment	$ 0	$ 0
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 0
Second Mortgages [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	0
Pre Modification Outstanding Recorded Investment	$ 0	$ 0
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 0
Equity Lines of Credit [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	0
Pre Modification Outstanding Recorded Investment	$ 0	$ 0
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 0
Mortgage and Commercial Loans [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	0	1
Pre Modification Outstanding Recorded Investment	$ 0	$ 3
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 0	$ 3
Agricultural, Installment and Other [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1	1
Pre Modification Outstanding Recorded Investment	$ 2	$ 1
Post Modification Outstanding Recorded Investment, Net of Related Allowance	$ 1	$ 1

XML

Debt and Equity Securities - Summary of Debt and Equity Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Summary Of Debt And Equity Securities [Line Items]
Securities Held-To-Maturity, Amortized Cost	$ 28,195	$ 28,123
Securities Held-To-Maturity, Gross Unrealized Gains	348	465
Securities Held-To-Maturity, Gross Unrealized Losses	178	188
Securities Held-To-Maturity, Estimated Market Value	28,365	28,400
Securities Available-For-Sale, Amortized Cost	332,506	347,520
Securities Available-For-Sale, Gross Unrealized Gains	973	1,056
Securities Available-For-Sale, Gross Unrealized Losses	2,351	2,156
Total investment securities available-for-sale	331,128	346,420
US Government-Sponsored Enterprises (GSEs) [Member]
Summary Of Debt And Equity Securities [Line Items]
Securities Available-For-Sale, Amortized Cost	77,177	131,767
Securities Available-For-Sale, Gross Unrealized Gains	215	129
Securities Available-For-Sale, Gross Unrealized Losses	483	1,329
Total investment securities available-for-sale	76,909	130,567
Government-Sponsored Enterprises (GSEs) residential [Member]
Summary Of Debt And Equity Securities [Line Items]
Securities Held-To-Maturity, Amortized Cost	9,375	7,398
Securities Held-To-Maturity, Gross Unrealized Gains	60	76
Securities Held-To-Maturity, Gross Unrealized Losses	169	147
Securities Held-To-Maturity, Estimated Market Value	9,266	7,327
Securities Available-For-Sale, Amortized Cost	192,983	170,802
Securities Available-For-Sale, Gross Unrealized Gains	430	731
Securities Available-For-Sale, Gross Unrealized Losses	1,498	464
Total investment securities available-for-sale	191,915	171,069
SBAP [Member]
Summary Of Debt And Equity Securities [Line Items]
Securities Available-For-Sale, Amortized Cost	31,253	30,627
Securities Available-For-Sale, Gross Unrealized Gains	54	98
Securities Available-For-Sale, Gross Unrealized Losses	273	205
Total investment securities available-for-sale	31,034	30,520
Obligations of States and Political Subdivisions [Member]
Summary Of Debt And Equity Securities [Line Items]
Securities Held-To-Maturity, Amortized Cost	18,820	20,725
Securities Held-To-Maturity, Gross Unrealized Gains	288	389
Securities Held-To-Maturity, Gross Unrealized Losses	9	41
Securities Held-To-Maturity, Estimated Market Value	19,099	21,073
Securities Available-For-Sale, Amortized Cost	31,093	14,324
Securities Available-For-Sale, Gross Unrealized Gains	274	98
Securities Available-For-Sale, Gross Unrealized Losses	97	158
Total investment securities available-for-sale	$ 31,270	$ 14,264

XML

Debt and Equity Securities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Collateralized mortgage obligations	$ 14,269	$ 12,254
Collateralized mortgage obligations, fair value	14,168	12,305
Securities pledged to secure public deposits	163,674	187,059
Market value of securities pledged to secure public deposits	162,905	186,091
Securities in obligations of political subdivisions	21,593	21,823
Market value of securities in obligations of political subdivisions	21,896	22,162
Securities adjust prior to maturity	40,023	11,950
Market value of securities that have rates that adjust prior to maturity	$ 40,009	$ 11,943

XML

Debt and Equity Securities - Maturity of Amortized Cost and Estimated Market Value of Debt Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Securities Held-to-maturity, Due in one year or less, Amortized Cost	$ 1,309
Securities Held-to-maturity, Due after one year through five years, Amortized Cost	10,390
Securities Held-to-maturity, Due after five years through ten years, Amortized Cost	3,985
Securities Held-to-maturity, Due after ten years, Amortized Cost	3,136
Securities Held-to-maturity, Gross Amortized Cost	18,820
Securities Held-to-maturity, Mortgage-backed securities, Amortized Cost	9,375
Securities Held-to-maturity, Amortized Cost	28,195	$ 28,123
Securities Held-to-maturity, Due in one year or less, Estimated Market Value	1,321
Securities Held-to-maturity, Due after one year through five years, Estimated Market Value	10,541
Securities Held-to-maturity, Due after five years through ten years, Estimated Market Value	4,050
Securities Held-to-maturity, Due after ten years, Estimated Market Value	3,187
Securities Held-to-maturity, Gross Estimated Market Value	19,099
Securities Held-to-maturity, Mortgage-backed securities, Estimated Market Value	9,266
Securities Held-to-maturity, Estimated Market Value	28,365	28,400
Securities Available-For-Sale, Due in one year or less, Amortized Cost	0
Securities Available-For-Sale, Due after one year through five years, Amortized Cost	42,769
Securities Available-For-Sale, Due after five years through ten years, Amortized Cost	62,760
Securities Available-For-Sale, Due after ten years, Amortized Cost	2,741
Securities Available-For-Sale, Gross Amortized Cost	108,270
Securities Available-For-Sale, Mortgage-backed securities, Amortized Cost	224,236
Securities Available-For-Sale, Amortized Cost	332,506	347,520
Securities Available-For-Sale, Due in one year or less, Estimated Market Value	0
Securities Available-For-Sale, Due after one year through five years, Estimated Market Value	42,767
Securities Available-For-Sale, Due after five years through ten years, Estimated Market Value	62,659
Securities Available-For-Sale, Due after ten years, Estimated Market Value	2,753
Securities Available-For-Sale, Gross Estimated Market Value	108,179
Securities Available-For-Sale, Mortgage-backed securities, Estimated Market Value	222,949
Securities Available-For-Sale, Estimated Market Value	$ 331,128	$ 346,420

XML

Debt and Equity Securities - Sales of Debt and Equity Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Gross proceeds	$ 42,845	$ 72,215	$ 6,867
Gross realized gains	261	638	78
Gross realized losses	(76)	(93)	0
Net realized gains	$ 185	$ 545	$ 78

XML

Debt and Equity Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Detail) $ in Thousands	Dec. 31, 2015 USD ($) Securities	Dec. 31, 2014 USD ($)
Held To Maturity Debt Securities [Line Items]
Held to Maturity Securities, Fair Value, Less than 12 Month	$ 7,800
Held to Maturity Securities, Unrealized losses, Less than 12 Month	$ 54
Held to Maturity Securities, Number of securities included, Less than 12 Month | Securities	13,000
Held to Maturity Securities, Fair Value, 12 Month or More	$ 2,717
Held to Maturity Securities, Unrealized losses, 12 Month or More	$ 124
Held to Maturity Securities, Number of securities included, 12 Month or More | Securities	3
Held to Maturity Securities, Total Fair Value	$ 10,517
Securities Held to Maturity, Total Unrealized Losses	178	$ 188
Available-for-Sale Securities, Fair Value, Less than 12 Month	206,356
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month	$ 1,972
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | Securities	108
Available-for-Sale Securities, Fair Value, 12 Month or More	$ 25,700
Available-for-Sale Securities, Unrealized Loss, 12 Month or More	$ 379
Available-for-Sale Securities, Number of securities included, 12 Month or More | Securities	22
Available-for-Sale Securities, Total Fair Value	$ 232,056
Available-for-Sale Securities, Total Unrealized Losses	2,351	2,156
US Government-Sponsored Enterprises (GSEs) [Member]
Held To Maturity Debt Securities [Line Items]
Available-for-Sale Securities, Fair Value, Less than 12 Month	33,369
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month	$ 232
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | Securities	12
Available-for-Sale Securities, Fair Value, 12 Month or More	$ 17,829
Available-for-Sale Securities, Unrealized Loss, 12 Month or More	$ 251
Available-for-Sale Securities, Number of securities included, 12 Month or More | Securities	6
Available-for-Sale Securities, Total Fair Value	$ 51,198
Available-for-Sale Securities, Total Unrealized Losses	483	1,329
GSE Residential [Member]
Held To Maturity Debt Securities [Line Items]
Held to Maturity Securities, Fair Value, Less than 12 Month	4,339
Held to Maturity Securities, Unrealized losses, Less than 12 Month	$ 45
Held to Maturity Securities, Number of securities included, Less than 12 Month | Securities	3,000
Held to Maturity Securities, Fair Value, 12 Month or More	$ 2,717
Held to Maturity Securities, Unrealized losses, 12 Month or More	$ 124
Held to Maturity Securities, Number of securities included, 12 Month or More | Securities	3
Held to Maturity Securities, Total Fair Value	$ 7,056
Securities Held to Maturity, Total Unrealized Losses	169	147
Available-for-Sale Securities, Fair Value, Less than 12 Month	142,251
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month	$ 1,407
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | Securities	66
Available-for-Sale Securities, Fair Value, 12 Month or More	$ 4,521
Available-for-Sale Securities, Unrealized Loss, 12 Month or More	$ 91
Available-for-Sale Securities, Number of securities included, 12 Month or More | Securities	7
Available-for-Sale Securities, Total Fair Value	$ 146,772
Available-for-Sale Securities, Total Unrealized Losses	1,498	464
SBAP [Member]
Held To Maturity Debt Securities [Line Items]
Available-for-Sale Securities, Fair Value, Less than 12 Month	22,811
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month	$ 273
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | Securities	12
Available-for-Sale Securities, Fair Value, 12 Month or More	$ 0
Available-for-Sale Securities, Unrealized Loss, 12 Month or More	$ 0
Available-for-Sale Securities, Number of securities included, 12 Month or More | Securities	0
Available-for-Sale Securities, Total Fair Value	$ 22,811
Available-for-Sale Securities, Total Unrealized Losses	273	205
Obligations of States and Political Subdivisions [Member]
Held To Maturity Debt Securities [Line Items]
Held to Maturity Securities, Fair Value, Less than 12 Month	3,461
Held to Maturity Securities, Unrealized losses, Less than 12 Month	$ 9
Held to Maturity Securities, Number of securities included, Less than 12 Month | Securities	10,000
Held to Maturity Securities, Fair Value, 12 Month or More	$ 0
Held to Maturity Securities, Unrealized losses, 12 Month or More	$ 0
Held to Maturity Securities, Number of securities included, 12 Month or More | Securities	0
Held to Maturity Securities, Total Fair Value	$ 3,461
Securities Held to Maturity, Total Unrealized Losses	9	41
Available-for-Sale Securities, Fair Value, Less than 12 Month	7,925
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month	$ 60
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | Securities	18
Available-for-Sale Securities, Fair Value, 12 Month or More	$ 3,350
Available-for-Sale Securities, Unrealized Loss, 12 Month or More	$ 37
Available-for-Sale Securities, Number of securities included, 12 Month or More | Securities	9
Available-for-Sale Securities, Total Fair Value	$ 11,275
Available-for-Sale Securities, Total Unrealized Losses	$ 97	$ 158

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Restricted Equity Securities - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
FHLB [Member]
Marketable Securities [Line Items]
Restricted equity securities consists of stock of the Federal Home Loan Bank of Cincinnati	$ 3,012	$ 3,012

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Premises and Equipment - Detail of Premises and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 55,959	$ 51,930
Less accumulated depreciation	(13,859)	(11,807)
Premises and equipment, net	42,100	40,123
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	17,022	16,662
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	27,821	27,898
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	140	140
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	8,605	7,115
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	280	112
Construction-In-Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,091	$ 3

XML

Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Construction of buildings and minor repair work	$ 1,222	$ 1,176	$ 1,154
Depreciation expense	$ 2,582	$ 2,205	$ 1,763

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Acquired Intangible Assets and Goodwill - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets percentage of owned subsidiaries	50.00%

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Acquired Intangible Assets and Goodwill - Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Balance at January 1,	$ 4,805	$ 4,805
Goodwill acquired during year	0	0
Impairment loss	0	0
Balance at December 31,	$ 4,805	$ 4,805

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Deposits - Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Demand deposits	$ 197,062	$ 155,721
Savings accounts	107,829	102,432
Negotiable order of withdrawal accounts	445,967	375,967
Money market demand accounts	523,895	479,549
Certificates of deposit $100,000 or greater	220,151	229,709
Other certificates of deposit	208,359	225,766
Individual retirement accounts $100,000 or greater	38,058	40,590
Other individual retirement accounts	48,529	50,536
Deposits	$ 1,789,850	$ 1,660,270

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Deposits - Principal Maturities of Certificate of Deposit and Individual Retirement Accounts (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Banking and Thrift [Abstract]
2016	$ 232,189
2017	132,540
2018	93,092
2019	35,463
2020	21,305
Thereafter	508
Time Deposits, Total	$ 515,097

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Deposits - Additional Information (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Deposit accounts, balance greater than	$ 250,000
Deposit accounts with balance greater than $250,000	467,559,000
Overdrafts reclassified as loans receivable	303,000	$ 373,000
Average required cash balance	$ 0	$ 0

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Securities Sold Under Repurchase Agreements - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Securities sold under repurchase agreements	$ 2,035	$ 3,437
Maximum amounts of outstanding repurchase agreements	3,514	8,753
Average daily balance outstanding	$ 2,505	$ 5,784
Weighted average interest rate on outstanding balance (as a percent)	0.25%	0.27%

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Non-Interest Income and Non-Interest Expense - Components of Non-Interest Income and Non-Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Non-interest income:
Service charges on deposits	$ 5,148	$ 4,374	$ 4,090
Other fees and commissions	9,321	8,519	7,651
BOLI and annuity earnings	877	376	75
Security gains, net	185	545	78
Fees and gains on sales of loans	4,048	2,780	3,298
Gain on sale of other real estate, net	362	77	0
Gain on sale of fixed assets, net	0	7	12
Non-interest income	19,941	16,678	15,204
Non-interest expense:
Employee salaries and benefits	31,556	27,793	25,697
Occupancy expenses	3,444	3,100	2,715
Furniture and equipment expenses	2,063	1,767	1,406
Loss on the sale of fixed assets, net	53	0	0
Loss on sales of other assets, net	2	6	3
Write downs and loss on sales of other real estate, net	0	0	1,642
Data processing expenses	2,476	2,313	1,902
FDIC insurance	953	1,049	1,220
Directors’ fees	735	720	707
Other operating expenses	10,877	10,957	13,495
Non-interest expense	$ 52,159	$ 47,705	$ 48,787

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Income Taxes - Components of the Net Deferred Tax Asset (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax asset	$ 10,334	$ 11,374
Deferred tax liability	(2,295)	(2,203)
Net deferred tax asset	8,039	9,171
Federal [Member]
Schedule Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax asset	8,954	9,818
Deferred tax liability	(1,905)	(1,829)
State [Member]
Schedule Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax asset	1,380	1,556
Deferred tax liability	$ (390)	$ (374)

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Income Taxes - Deferred Tax Assets (Liabilities) in Which Tax Effects of Significant Item that Gave Rise (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Financial statement allowance for loan losses in excess of tax allowance	$ 8,317	$ 8,191
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements	(1,815)	(1,723)
Financial statement deduction for deferred compensation in excess of deduction for tax purposes	1,174	1,010
Writedown of other real estate not deductible for income tax purposes until sold	162	1,024
Financial statement income on FHLB stock dividends not recognized for tax purposes	(480)	(480)
Unrealized loss on securities available-for-sale	528	421
Other items, net	153	728
Net deferred tax asset	$ 8,039	$ 9,171

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Income Taxes - Summary of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current, Federal	$ 10,871	$ 10,201	$ 7,193
Current, State	1,653	1,475	1,045
Current, Total	12,524	11,676	8,238
Deferred, Federal	1,028	526	898
Deferred, State	210	108	170
Deferred, Total	1,238	634	1,068
Federal	11,899	10,727	8,091
State	1,863	1,583	1,215
Total	$ 13,762	$ 12,310	$ 9,306

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Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Federal income tax benefits	$ 13,762,000	$ 12,310,000	$ 9,306,000
Statutory income tax rate (as a percent)	34.00%
Income tax expense related to the realized gain and loss, respectively, on sale of securities	$ 71,000	209,000	30,000
Accrued or recognized interest or penalties related to uncertain tax positions	0	$ 0	$ 0
Unrecognized tax benefits	$ 0
Period for change of unrecognized tax benefits	12 months
Deferred tax asset that we did not prevail on all uncertain tax position	$ 10,300,000

XML

Income Taxes - Reconciliation of Actual Income Tax Expense to the Expected Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Computed “expected” tax expense	$ 12,793	$ 11,250	$ 8,559
State income taxes, net of Federal income tax benefit	1,243	1,029	937
Tax exempt interest, net of interest expense exclusion	(266)	(244)	(234)
Federal income tax rate in excess of statutory rate related to taxable income over $10 million	312	290	204
Earnings on cash surrender value of life insurance	(298)	(128)	(25)
Expenses not deductible for tax purposes	35	37	35
Stock based compensation expense	13	14	11
Other	(70)	62	(181)
Total	$ 13,762	$ 12,310	$ 9,306

XML

Income Taxes - Reconciliation of Actual Income Tax Expense to the Expected Tax Expense - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($)
Income Tax Disclosure [Abstract]
Taxable income for which federal income tax rate in excess of statutory rate	$ 10,000,000

XML

Commitments and Contingent Liabilities - Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands	Dec. 31, 2015 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2016	$ 141
2017	77
2018	50
2019	53
2020	$ 56

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Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 192,000	$ 133,000	$ 128,000
Debt Instrument [Line Items]
Line of credit with other financial institution	53,000,000	53,000,000
Balance outstanding under line of credit	0	0
Line of Credit [Member] | Cash Management Advance (CMA) [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
Borrowings under variable rate, period up to	90 days
Borrowings under fixed rate, period up to	30 days
Borrowings under CMA	$ 0	$ 0

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Financial Instruments with Off-Balance-Sheet Risk - Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financial instruments whose contract amounts represent credit risk
Financial instruments whose contract amounts represent credit risk	$ 428,184	$ 340,779
Unused Commitments to Extend Credit [Member]
Financial instruments whose contract amounts represent credit risk
Financial instruments whose contract amounts represent credit risk	391,553	307,332
Standby Letters of Credit [Member]
Financial instruments whose contract amounts represent credit risk
Financial instruments whose contract amounts represent credit risk	$ 36,631	$ 33,447

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Concentration of Credit Risk - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($) Bank
Concentration Of Credit Risk [Line Items]
Company's cash and due from banks and federal funds sold total	$ 35,757,000
FDIC limit of per depositor	$ 250,000
Federal funds sold deposited with banks, number or banks | Bank	2
Standby Letters of Credit [Member]
Concentration Of Credit Risk [Line Items]
Maximum potential amount of future payments that the Company guarantee	$ 33,600,000
Standby Letters of Credit [Member] | Minimum [Member]
Concentration Of Credit Risk [Line Items]
Guarantee period of standby letters	1 year
Standby Letters of Credit [Member] | Maximum [Member]
Concentration Of Credit Risk [Line Items]
Guarantee period of standby letters	2 years

XML

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Minimum age limit of employee to be eligible for the plan	20 years 6 months
Employers contribution	$ 1,840	$ 1,734	$ 1,612

XML

Dividend Reinvestment Plan - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Banking and Thrift [Abstract]
Original issue shares under the terms of the dividend reinvestment plan (DRIP)	72,543	69,289	73,411

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Regulatory Matters and Restrictions on Dividends - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
New capital requirement effective date	2015
Capital conservation buffer ratio to be phased in over four years (as a percent)	2.50%
Capital conservation buffer phased in period	4 years
Capital conservation buffer beginning period	2016
Basel III Requirements [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Unrealized gains and losses in accumulated other comprehensive income	$ 250,000,000,000

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Regulatory Matters and Restrictions on Dividends - Summary of Company's and Wilson Banks Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Total capital to risk weighted assets:
Total capital to risk weighted assets actual amount	$ 240,848	$ 214,779
Total capital to risk weighted assets actual ratio (as a percent)	14.10%	15.00%
Total capital to risk weighted assets regulatory minimum capital requirement amount	$ 136,588	$ 114,549
Total capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	8.00%	8.00%
Total capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 170,736	$ 143,186
Total capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	10.00%	10.00%
Tier 1 capital to risk weighted assets:
Tier 1 capital to risk weighted assets actual amount	$ 219,483	$ 196,765
Tier 1 capital to risk weighted assets actual ratio (as a percent)	12.90%	13.70%
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount	$ 102,441	$ 57,450
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	6.00%	4.00%
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 136,588	$ 86,174
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	8.00%	6.00%
Common equity Tier 1 capital to risk weighted assets:
Common equity Tier 1 capital to risk weighted assets actual amount	$ 219,483
Common equity Tier 1 capital to risk weighted assets actual ratio (as a percent)	12.90%
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount	$ 76,831
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	4.50%
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 110,978
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	6.50%
Tier 1 capital to average assets:
Tier 1 capital to average assets actual amount	$ 219,483	$ 196,765
Tier 1 capital to average assets actual ratio (as a percent)	11.10%	10.60%
Tier 1 capital to average assets regulatory minimum capital requirement amount	$ 79,361	$ 74,251
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent)	4.00%	4.00%
Tier 1 capital to average assets regulatory minimum to be well capitalized ratio (as a percent)	5.00%	5.00%
Wilson Bank Holding Company [Member]
Total capital to risk weighted assets:
Total capital to risk weighted assets actual amount	$ 238,963	$ 213,447
Total capital to risk weighted assets actual ratio (as a percent)	14.00%	14.90%
Total capital to risk weighted assets regulatory minimum capital requirement amount	$ 136,575	$ 114,602
Total capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	8.00%	8.00%
Total capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 170,719	$ 143,253
Total capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	10.00%	10.00%
Tier 1 capital to risk weighted assets:
Tier 1 capital to risk weighted assets actual amount	$ 217,600	$ 195,433
Tier 1 capital to risk weighted assets actual ratio (as a percent)	12.80%	13.60%
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount	$ 102,431	$ 57,480
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	6.00%	4.00%
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 136,575	$ 86,220
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	8.00%	6.00%
Common equity Tier 1 capital to risk weighted assets:
Common equity Tier 1 capital to risk weighted assets actual amount	$ 217,600
Common equity Tier 1 capital to risk weighted assets actual ratio (as a percent)	12.80%
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount	$ 76,823
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	4.50%
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount	$ 110,967
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	6.50%
Tier 1 capital to average assets:
Tier 1 capital to average assets actual amount	$ 217,600	$ 195,433
Tier 1 capital to average assets actual ratio (as a percent)	11.00%	10.50%
Tier 1 capital to average assets regulatory minimum capital requirement amount	$ 79,354	$ 74,451
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent)	4.00%	4.00%
Tier 1 capital to average assets regulatory minimum to be well capitalized amount	$ 99,192	$ 93,063
Tier 1 capital to average assets regulatory minimum to be well capitalized ratio (as a percent)	5.00%	5.00%

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Regulatory Matters and Restrictions on Dividends - Summary of Changes to Regulatory Capital Ratios (Detail)	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	4.50%
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	6.50%
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	6.00%	4.00%
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	8.00%	6.00%
Total capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent)	8.00%	8.00%
Total capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent)	10.00%	10.00%
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent)	4.00%	4.00%
Tier 1 capital to average assets regulatory minimum to be well capitalized ratio (as a percent)	5.00%	5.00%

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Regulatory Matters and Restrictions on Dividends - Summary of Basel III Minimum Requirements After Giving Effect to the Buffer (Detail)	Dec. 31, 2015	Dec. 31, 2014
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Ratio (as a percent)	4.50%
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent)	6.00%	4.00%
Total Capital to Risk Weighted Assets Ratio (as a percent)	8.00%	8.00%
2016 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Ratio (as a percent)	5.125%
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent)	6.625%
Total Capital to Risk Weighted Assets Ratio (as a percent)	8.625%
2017 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Ratio (as a percent)	5.75%
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent)	7.25%
Total Capital to Risk Weighted Assets Ratio (as a percent)	9.25%
2018 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Ratio (as a percent)	6.375%
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent)	7.875%
Total Capital to Risk Weighted Assets Ratio (as a percent)	9.875%
2019 [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Ratio (as a percent)	7.00%
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent)	8.50%
Total Capital to Risk Weighted Assets Ratio (as a percent)	10.50%

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Salary Deferral Plans - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2012	Dec. 31, 2015	May. 31, 2015	Dec. 31, 2014
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Executive salary continuation plan provides retirement benefits for the period		180 months
Age limit or service period for an employee to be eligible for executive salary continuation plan		age of 65 and/or age 55 after 20 years of service
Expected benefit period prior retirement in case the employee is deceased or disabled		15 years
Salary deferral compensation liability total		$ 1,872,000		$ 1,878,000
Cash surrender value of life insurance, carrying value		3,376,000		3,024,000
Face amount of the insurance policies in force		$ 10,508,000		9,984,000
Additional benefits accrued	$ 0		$ 0
Supplemental executive retirement plan provides retirement benefits for the period	180 months	180 months
Flexible premium indexed deferred annuity contracts purchased under the SERP agreements	$ 3,809,000		$ 3,798,000
Executive Salary Continuation Plan [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Requisite age for commencement of benefits		65 years
Requisite early age for commencement of benefits with requisite service		55 years
Requisite service period for commencement of benefits at earlier age		20 years
Supplemental Employee Retirement Plan Agreement [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Salary deferral compensation liability total		$ 1,161,000		697,000
Cash surrender value of life insurance, carrying value		14,357,000		10,320,000
Face amount of the insurance policies in force		35,471,000		26,090,000
Flexible Indexed Annuity Contracts		$ 8,939,000		$ 3,987,000

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Stock Option Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Apr. 14, 2009	Apr. 13, 2009	Apr. 30, 1999	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Percentage of common stock shares issued and outstanding			5.00%
Stock option expiration period				10 years
Percentage of the fair market value of the common stock on the grant date				100.00%
The weighted average fair value at the grant date of options granted (in dollars per share)				$ 12.72	$ 13.41	$ 13.03
The total intrinsic value of options exercised				$ 129	$ 99	$ 109
Total unrecognized cost related to non-vested share-based compensation arrangements granted under the Company's stock option plans				$ 234
Weighted-average period for recognition of unrecognized costs				6 years 6 months
1999 Stock Option Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock, shares issued			200,000
Stock Option Plan expiration date		Apr. 13, 2009
2009 Stock Option Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock, shares issued				75,000
Stock Option Plan effective date	Apr. 14, 2009
Options granted to employees (in shares)				41,000

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Stock Option Plan - Schedule of Weighted-Average Black-Scholes Fair Value Assumptions (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected dividends (as percent)	1.00%	1.11%	1.12%
Expected term (in years)	8 years 11 months 16 days	9 years 3 months 29 days	9 years 6 months 22 days
Expected volatility (as percent)	22.00%	23.00%	25.00%
Risk-free rate (as percent)	2.02%	2.62%	2.04%

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Stock Option Plan - Summary of Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Shares
Option outstanding at beginning of year (in shares)	43,569	47,654	48,987
Granted (in shares)	3,250	3,250	5,500
Exercised (in shares)	(7,633)	(6,144)	(5,973)
Forfeited or expired (in shares)	(1,767)	(1,191)	(860)
Option outstanding at end of year (in shares)	37,419	43,569	47,654
Options exercisable at year end (in shares)	9,814	12,064	12,009
Weighted Average Exercise Price
Outstanding weighted-average exercise price at beginning of year (in dollars per share)	$ 38.03	$ 36.43	$ 34.24
Granted weighted-average exercise price (in dollars per shares)	48.30	45.75	44.16
Exercised weighted-average exercise price (in dollars per shares)	31.58	30.24	26.00
Forfeited or expired weighted-average exercise price (in dollars per shares)	37.63	35.36	33.07
Outstanding weighted-average exercise price at end of year (in dollars per shares)	40.25	38.03	36.43
Options exercisable weighted-average exercise price at year end (in dollars per shares)	$ 38.06	$ 34.59	$ 32.35

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Stock Option Plan - Summary of Information about Stock Options (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of outstanding (in shares)	37,419
Options Outstanding, Aggregate intrinsic value | $	$ 370
Options Exercisable, Number exercisable (in shares)	9,814
Options Exercisable, Aggregate intrinsic value | $	$ 119
26.63 to 35.75 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of outstanding (in shares)	5,946
Options Outstanding, Weighted average exercise price (in dollars per share) | $ / shares	$ 33.21
Options Outstanding, Weighted average remaining contractual term	2 years 11 days
Options Exercisable, Number exercisable (in shares)	2,853
Options Exercisable, Weighted average exercise price (in dollars per share) | $ / shares	$ 33.44
Options Exercisable, Weighted average remaining contractual term	1 year 11 months 19 days
37.75 to 48.95 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of outstanding (in shares)	31,473
Options Outstanding, Weighted average exercise price (in dollars per share) | $ / shares	$ 41.58
Options Outstanding, Weighted average remaining contractual term	5 years 10 months 28 days
Options Exercisable, Number exercisable (in shares)	6,961
Options Exercisable, Weighted average exercise price (in dollars per share) | $ / shares	$ 39.96
Options Exercisable, Weighted average remaining contractual term	4 years 11 months 1 day

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Stock Option Plan - Summary of Information about Stock Options - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 $ / shares
26.63 to 35.75 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower limit (in dollars per share)	$ 26.63
Exercise Price, Upper limit (in dollars per share)	35.75
37.75 to 48.95 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price, Lower limit (in dollars per share)	37.75
Exercise Price, Upper limit (in dollars per share)	$ 48.95

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Earnings Per Share - Summary of Components Comprising Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Basic EPS Computation:
Numerator - Earnings available to common stockholders	$ 5,958	$ 6,088	$ 6,201	$ 5,616	$ 6,100	$ 5,351	$ 5,154	$ 4,172	$ 4,163	$ 4,481	$ 4,247	$ 2,978	$ 23,863	$ 20,777	$ 15,869
Denominator - Weighted average number of common shares outstanding													7,624,108	7,547,087	7,472,373
Basic earnings per common share (in dollars per share)	$ 0.78	$ 0.80	$ 0.81	$ 0.74	$ 0.81	$ 0.71	$ 0.68	$ 0.55	$ 0.56	$ 0.60	$ 0.57	$ 0.40	$ 3.13	$ 2.75	$ 2.12
Diluted EPS Computation:
Numerator - Earnings available to common stockholders													$ 23,863	$ 20,777	$ 15,869
Denominator - Weighted average number of common shares outstanding													7,624,108	7,547,087	7,472,373
Dilutive effect of stock options (in shares)													3,527	4,393	4,798
Weighted average number of shares outstanding-diluted													7,627,635	7,551,480	7,477,171
Diluted earnings per common share (in dollars per share)	$ 0.78	$ 0.80	$ 0.81	$ 0.74	$ 0.81	$ 0.71	$ 0.68	$ 0.55	$ 0.55	$ 0.60	$ 0.57	$ 0.40	$ 3.13	$ 2.75	$ 2.12

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Disclosures About Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	$ 331,128	$ 346,420
State and municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	31,270	14,264
Fair Value Measurements Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	331,128	346,420
Loans held for sale	10,135	9,466
Other assets	26,672	17,331
Total assets at fair value	367,935	373,217
Fair Value Measurements Recurring [Member] | Mortgage-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	191,915	171,069
Fair Value Measurements Recurring [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	31,034	30,520
Fair Value Measurements Recurring [Member] | State and municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	31,270	14,264
Fair Value Measurements Recurring [Member] | Quoted Market Prices in an Active Market (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Loans held for sale	0	0
Other assets	0	0
Total assets at fair value	0	0
Fair Value Measurements Recurring [Member] | Quoted Market Prices in an Active Market (Level 1) [Member] | Mortgage-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | Quoted Market Prices in an Active Market (Level 1) [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | Quoted Market Prices in an Active Market (Level 1) [Member] | State and municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | Models with Significant Observable Market Parameters (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	331,128	346,420
Loans held for sale	10,135	9,466
Other assets	0	0
Total assets at fair value	341,263	355,886
Fair Value Measurements Recurring [Member] | Models with Significant Observable Market Parameters (Level 2) [Member] | Mortgage-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	191,915	171,069
Fair Value Measurements Recurring [Member] | Models with Significant Observable Market Parameters (Level 2) [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	31,034	30,520
Fair Value Measurements Recurring [Member] | Models with Significant Observable Market Parameters (Level 2) [Member] | State and municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	31,270	14,264
Fair Value Measurements Recurring [Member] | Models with Significant Unobservable Market Parameters (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Loans held for sale	0	0
Other assets	26,672	17,331
Total assets at fair value	26,672	17,331
Fair Value Measurements Recurring [Member] | Models with Significant Unobservable Market Parameters (Level 3) [Member] | Mortgage-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | Models with Significant Unobservable Market Parameters (Level 3) [Member] | Asset-backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | Models with Significant Unobservable Market Parameters (Level 3) [Member] | State and municipal securities [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | U.S. Government Sponsored Enterprises [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	76,909	130,567
Fair Value Measurements Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Quoted Market Prices in an Active Market (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	0	0
Fair Value Measurements Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Models with Significant Observable Market Parameters (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	76,909	130,567
Fair Value Measurements Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Models with Significant Unobservable Market Parameters (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Total investment securities available-for-sale	$ 0	$ 0

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Disclosures About Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Other real estate owned	$ 5,410	$ 7,298
Impaired loans, net	8,436	8,945
Total	13,846	16,243
Quoted Market Prices in an Active Market (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Other real estate owned	0	0
Impaired loans, net	0	0
Total	0	0
Models with Significant Observable Market Parameters (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Other real estate owned	0	0
Impaired loans, net	0	0
Total	0	0
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Other real estate owned	5,410	7,298
Impaired loans, net	8,436	8,945
Total	$ 13,846	$ 16,243

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Disclosures About Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Valuation allowance	$ 194	$ 1,631

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Disclosures About Fair Value of Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 TransferStation
Fair Value Disclosures [Abstract]
Transfers between levels one, two and three	0

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Disclosures About Fair Value of Financial Instruments - Changes in Fair Value Due to Observable Factors (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Assets
Fair value, January 1	$ 17,331	$ 11,390
Total realized gains included in income	877	376
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	0	0
Purchases, issuances and settlements, net	8,464	5,565
Transfers out of Level 3	0	0
Fair value, December 31	26,672	17,331
Other Liabilities
Fair value, January 1	0	0
Total realized gains included in income	0	0
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31	0	0
Purchases, issuances and settlements, net	0	0
Transfers out of Level 3	0	0
Fair value, December 31	0	0
Other Assets [Member]
Other Liabilities
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	877	376
Other Liabilities [Member]
Other Liabilities
Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31	$ 0	$ 0

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Disclosures About Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities held-to-maturity, Carrying/Notional Amount	$ 28,195	$ 28,123
Loans, net, Carrying/Notional Amount	1,443,179	1,329,865
Deposits and securities sold under agreements to repurchase, Carrying/Notional Amount	1,791,885	1,663,707
Commitments to extend credit, Carrying/Notional Amount	0	0
Standby letters of credit, Carrying/Notional Amount	0	0
Securities Held-To-Maturity, Estimated Market Value	28,365	28,400
Loans, net, Estimated Fair Value	1,443,738	1,346,569
Deposits and securities sold under agreements to repurchase, Estimated Fair Value	1,549,414	1,530,607
Commitments to extend credit, Estimated Fair Value	0	0
Standby letters of credit, Estimated Fair Value	0	0
Quoted Market Prices in an Active Market (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Held-To-Maturity, Estimated Market Value	0	0
Loans, net, Estimated Fair Value	0	0
Deposits and securities sold under agreements to repurchase, Estimated Fair Value	0	0
Commitments to extend credit, Estimated Fair Value	0	0
Standby letters of credit, Estimated Fair Value	0	0
Models with Significant Observable Market Parameters (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Held-To-Maturity, Estimated Market Value	28,365	28,400
Loans, net, Estimated Fair Value	0	0
Deposits and securities sold under agreements to repurchase, Estimated Fair Value	0	0
Commitments to extend credit, Estimated Fair Value	0	0
Standby letters of credit, Estimated Fair Value	0	0
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Held-To-Maturity, Estimated Market Value	0	0
Loans, net, Estimated Fair Value	1,443,738	1,346,569
Deposits and securities sold under agreements to repurchase, Estimated Fair Value	1,549,414	1,530,607
Commitments to extend credit, Estimated Fair Value	0	0
Standby letters of credit, Estimated Fair Value	$ 0	$ 0

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Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets - Parent Company Only (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash	$ 109,253	$ 68,007	$ 111,504	$ 106,664
Total assets	2,021,604	1,873,242
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	15,304	15,144
Additional paid-in capital	61,339	57,709
Retained earnings	147,646	128,718
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively	(851)	(679)
Total stockholders’ equity	223,438	200,892	177,671	169,698
Total liabilities and stockholders’ equity	2,021,604	1,873,242
Wilson Bank Holding Company [Member]
ASSETS
Cash	1,685	1,120	2,662	1,337
Investment in wholly-owned commercial bank subsidiary	221,555	199,560
Refundable income taxes	198	212
Total assets	223,438	200,892
Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 15,000,000 shares, 7,652,144 and 7,571,968 shares issued and outstanding, respectively	15,304	15,144
Additional paid-in capital	61,339	57,709
Retained earnings	147,646	128,718
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively	(851)	(679)
Total stockholders’ equity	223,438	200,892	$ 177,671	$ 169,698
Total liabilities and stockholders’ equity	$ 223,438	$ 200,892

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Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets - Parent Company Only - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Parent Company Only Financial Information [Line Items]
Common stock, par value (in dollars per share)	$ 2.00	$ 2.00
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	7,652,144	7,571,968
Common stock, shares outstanding	7,652,144	7,571,968
Wilson Bank Holding Company [Member]
Parent Company Only Financial Information [Line Items]
Common stock, par value (in dollars per share)	$ 2.00	$ 2.00
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	7,652,144	7,571,968
Common stock, shares outstanding	7,652,144	7,571,968
Net unrealized losses on available-for-sale securities, income taxes	$ 527	$ 421

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Wilson Bank Holding Company - Parent Company Financial Information - Statements of Earnings and Comprehensive Earnings - Parent Company Only (Detail) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Expenses:
Directors’ fees													$ 735	$ 720	$ 707
Earnings before income taxes	$ 8,720	$ 9,862	$ 9,889	$ 9,154	$ 8,888	$ 8,772	$ 8,503	$ 6,924	$ 6,514	$ 7,115	$ 6,684	$ 4,862	37,625	33,087	25,175
Federal income tax benefits													(13,762)	(12,310)	(9,306)
Net earnings	$ 5,958	$ 6,088	$ 6,201	$ 5,616	$ 6,100	$ 5,351	$ 5,154	$ 4,172	$ 4,163	$ 4,481	$ 4,247	$ 2,978	23,863	20,777	15,869
Other comprehensive earnings, net of tax:
Net unrealized gains (losses) on available-for-sale- securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively													(58)	3,953	(6,820)
Reclassification adjustments for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively													(114)	(336)	(48)
Other comprehensive earnings (losses)													(172)	3,617	(6,868)
Comprehensive earnings													23,691	24,394	9,001
Wilson Bank Holding Company [Member]
Expenses:
Directors’ fees													350	351	337
Other													152	191	83
Earnings before income taxes													(502)	(542)	(420)
Federal income tax benefits													198	212	173
Non-interest expense													(304)	(330)	(247)
Equity in undistributed earnings of commercial bank subsidiary													24,167	21,107	16,116
Net earnings													23,863	20,777	15,869
Other comprehensive earnings, net of tax:
Net unrealized gains (losses) on available-for-sale- securities arising during period, net of taxes of $35, $2,454 and $4,231, respectively													(58)	3,953	(6,820)
Reclassification adjustments for net gains included in net earnings, net of taxes of $71, $209 and $30, respectively													(114)	(336)	(48)
Other comprehensive earnings (losses)													(172)	3,617	(6,868)
Comprehensive earnings													$ 23,691	$ 24,394	$ 9,001

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Wilson Bank Holding Company - Parent Company Financial Information - Statements of Earnings and Comprehensive Earnings - Parent Company Only - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Parent Company Only Financial Information [Line Items]
Unrealized gains (losses) on available-for-sale securities arising during period, net of taxes	$ 35	$ 2,454	$ 4,231
Reclassification adjustment for net gains included in net earnings, taxes	71	209	30
Wilson Bank Holding Company [Member]
Parent Company Only Financial Information [Line Items]
Unrealized gains (losses) on available-for-sale securities arising during period, net of taxes	35	2,454	4,231
Reclassification adjustment for net gains included in net earnings, taxes	$ 71	$ 209	$ 30

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Wilson Bank Holding Company - Parent Company Financial Information - Statements of Changes in Stockholders' Equity - Parent Company Only (Detail) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Parent Company Only Financial Information [Line Items]
Beginning balance				$ 200,892				$ 177,671				$ 169,698	$ 200,892	$ 177,671	$ 169,698
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively													(4,935)	(4,510)	(4,464)
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													3,511	3,204	3,248
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													241	186	156
Share based compensation expense													38	41	32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively													(172)	3,617	(6,868)
Repurchase of 2,053 common shares														(94)
Net earnings for the year	$ 5,958	$ 6,088	$ 6,201	5,616	$ 6,100	$ 5,351	$ 5,154	4,172	$ 4,163	$ 4,481	$ 4,247	2,978	23,863	20,777	15,869
Ending balance	223,438				200,892				177,671				223,438	200,892	177,671
Common Stock
Parent Company Only Financial Information [Line Items]
Beginning balance				15,144				14,997				14,838	15,144	14,997	14,838
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													145	139	147
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													15	12	12
Repurchase of 2,053 common shares														(4)
Ending balance	15,304				15,144				14,997				15,304	15,144	14,997
Additional Paid-In Capital
Parent Company Only Financial Information [Line Items]
Beginning balance				57,709				54,519				51,242	57,709	54,519	51,242
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													3,366	3,065	3,101
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													226	174	144
Share based compensation expense													38	41	32
Repurchase of 2,053 common shares														(90)
Ending balance	61,339				57,709				54,519				61,339	57,709	54,519
Retained Earnings
Parent Company Only Financial Information [Line Items]
Beginning balance				128,718				112,451				101,046	128,718	112,451	101,046
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively													(4,935)	(4,510)	(4,464)
Net earnings for the year													23,863	20,777	15,869
Ending balance	147,646				128,718				112,451				147,646	128,718	112,451
Net Unrealized Gain (Loss) On Available-For-Sale Securities
Parent Company Only Financial Information [Line Items]
Beginning balance				(679)				(4,296)				2,572	(679)	(4,296)	2,572
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively													(172)	3,617	(6,868)
Ending balance	(851)				(679)				(4,296)				(851)	(679)	(4,296)
Wilson Bank Holding Company [Member]
Parent Company Only Financial Information [Line Items]
Beginning balance				200,892				177,671				169,698	200,892	177,671	169,698
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively													(4,935)	(4,510)	(4,464)
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													3,511	3,204	3,248
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													241	186	156
Share based compensation expense													38	41	32
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively													(172)	3,617	(6,868)
Repurchase of 2,053 common shares														(94)
Net earnings for the year													23,863	20,777	15,869
Ending balance	223,438				200,892				177,671				223,438	200,892	177,671
Wilson Bank Holding Company [Member] | Common Stock
Parent Company Only Financial Information [Line Items]
Beginning balance				15,144				14,997				14,838	15,144	14,997	14,838
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													145	139	147
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													15	12	12
Repurchase of 2,053 common shares														(4)
Net earnings for the year														0
Ending balance	15,304				15,144				14,997				15,304	15,144	14,997
Wilson Bank Holding Company [Member] | Additional Paid-In Capital
Parent Company Only Financial Information [Line Items]
Beginning balance				57,709				54,519				51,242	57,709	54,519	51,242
Issuance of 73,411, 69,289 and 72,543 shares of stock pursuant to dividend reinvestment plan for the period 2013, 2014 and 2015 respectively													3,366	3,065	3,101
Issuance of 5,973, 6,144 and 7,633 shares of stock pursuant to exercise of stock options for the period 2013, 2014 and 2015 respectively													226	174	144
Share based compensation expense													38	41	32
Repurchase of 2,053 common shares														(90)
Net earnings for the year														0
Ending balance	61,339				57,709				54,519				61,339	57,709	54,519
Wilson Bank Holding Company [Member] | Retained Earnings
Parent Company Only Financial Information [Line Items]
Beginning balance				128,718				112,451				101,046	128,718	112,451	101,046
Cash dividends declared, $.60, $.60 and $.65 per share for the period ended 2013, 2014 and 2015 respectively													(4,935)	(4,510)	(4,464)
Net earnings for the year													23,863	20,777	15,869
Ending balance	147,646				128,718				112,451				147,646	128,718	112,451
Wilson Bank Holding Company [Member] | Net Unrealized Gain (Loss) On Available-For-Sale Securities
Parent Company Only Financial Information [Line Items]
Beginning balance				$ (679)				$ (4,296)				$ 2,572	(679)	(4,296)	2,572
Net change in fair value of available-for-sale securities during the year, net of taxes of $4,261, $2,245 and $106 for the period 2013, 2014 and 2015 respectively													(172)	3,617	(6,868)
Net earnings for the year														0
Ending balance	$ (851)				$ (679)				$ (4,296)				$ (851)	$ (679)	$ (4,296)

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Wilson Bank Holding Company - Parent Company Financial Information - Statements of Changes in Stockholders' Equity - Parent Company Only - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Parent Company Only Financial Information [Line Items]
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Net change in fair value of available-for-sale securities, tax	$ (106)	$ 2,245	$ (4,261)
Repurchase of common shares		2,053
Common Stock
Parent Company Only Financial Information [Line Items]
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Additional Paid-In Capital
Parent Company Only Financial Information [Line Items]
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Retained Earnings
Parent Company Only Financial Information [Line Items]
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Net Unrealized Gain (Loss) On Available-For-Sale Securities
Parent Company Only Financial Information [Line Items]
Net change in fair value of available-for-sale securities, tax	$ (106)	$ 2,245	$ (4,261)
Wilson Bank Holding Company [Member]
Parent Company Only Financial Information [Line Items]
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Net change in fair value of available-for-sale securities, tax	$ 106	$ 2,245	$ 4,261
Repurchase of common shares		2,053
Wilson Bank Holding Company [Member] | Common Stock
Parent Company Only Financial Information [Line Items]
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Wilson Bank Holding Company [Member] | Additional Paid-In Capital
Parent Company Only Financial Information [Line Items]
Shares of stock pursuant to dividend reinvestment plan	72,543	69,289	73,411
Shares of stock pursuant to exercise of stock options	7,633	6,144	5,973
Repurchase of common shares		2,053
Wilson Bank Holding Company [Member] | Retained Earnings
Parent Company Only Financial Information [Line Items]
Cash dividends declared, per shares (in dollars per share)	$ 0.65	$ 0.60	$ 0.60
Wilson Bank Holding Company [Member] | Net Unrealized Gain (Loss) On Available-For-Sale Securities
Parent Company Only Financial Information [Line Items]
Net change in fair value of available-for-sale securities, tax	$ 106	$ 2,245	$ (4,261)

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Wilson Bank Holding Company - Parent Company Financial Information - Statements of Cash Flows - Parent Company Only (Detail) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Cash paid to suppliers and other													$ (51,474)	$ (45,890)	$ (41,968)
Net cash provided by operating activities													25,640	21,411	37,164
Cash flows from investing activities:
Net cash used in investing activities													(111,389)	(164,068)	(90,091)
Cash flows from financing activities:
Dividends paid													(4,935)	(4,510)	(4,464)
Proceeds from sale of stock pursuant to dividend reinvestment													3,511	3,204	3,248
Proceeds from exercise of stock options													241	186	156
Common shares repurchased													0	(94)	0
Net cash provided by financing activities													126,995	99,160	57,767
Net increase (decrease) in cash and cash equivalents													41,246	(43,497)	4,840
Cash and cash equivalents at beginning of year				$ 68,007				$ 111,504				$ 106,664	68,007	111,504	106,664
Cash and cash equivalents at end of year	$ 109,253				$ 68,007				$ 111,504				109,253	68,007	111,504
Reconciliation of net earnings to net cash used in operating activities:
Net earnings	5,958	$ 6,088	$ 6,201	5,616	6,100	$ 5,351	$ 5,154	4,172	4,163	$ 4,481	$ 4,247	2,978	23,863	20,777	15,869
Adjustments to reconcile net earnings to net cash used in operating activities:
Decrease (increase) in refundable income taxes													(1,413)	(601)	(175)
Share based compensation expense													38	41	32
Total adjustments													1,777	634	21,295
Net cash provided by operating activities													25,640	21,411	37,164
Wilson Bank Holding Company [Member]
Cash flows from operating activities:
Cash paid to suppliers and other													(464)	(501)	(388)
Tax benefits received													212	173	173
Net cash provided by operating activities													(252)	(328)	(215)
Cash flows from investing activities:
Dividends received from commercial bank subsidiary													2,000	0	2,600
Net cash used in investing activities													2,000	0	2,600
Cash flows from financing activities:
Dividends paid													(4,935)	(4,510)	(4,464)
Proceeds from sale of stock pursuant to dividend reinvestment													3,511	3,204	3,248
Proceeds from exercise of stock options													241	186	156
Common shares repurchased													0	(94)	0
Net cash provided by financing activities													(1,183)	(1,214)	(1,060)
Net increase (decrease) in cash and cash equivalents													565	(1,542)	1,325
Cash and cash equivalents at beginning of year				$ 1,120				$ 2,662				$ 1,337	1,120	2,662	1,337
Cash and cash equivalents at end of year	$ 1,685				$ 1,120				$ 2,662				1,685	1,120	2,662
Reconciliation of net earnings to net cash used in operating activities:
Net earnings													23,863	20,777	15,869
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of commercial bank subsidiary													(24,167)	(21,107)	(16,116)
Decrease (increase) in refundable income taxes													14	(39)	0
Share based compensation expense													38	41	32
Total adjustments													(24,115)	(21,105)	(16,084)
Net cash provided by operating activities													$ (252)	$ (328)	$ (215)

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Quarterly Financial Data (Unaudited) - Quarterly Results of Operations for the Four Quarters (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 20,213	$ 19,982	$ 19,617	$ 19,027	$ 19,180	$ 18,980	$ 18,286	$ 17,934	$ 18,315	$ 17,930	$ 17,749	$ 17,820	$ 78,839	$ 74,380	$ 71,814
Net interest income	18,126	17,868	17,426	16,811	16,783	16,554	15,849	15,426	15,704	15,263	15,001	14,967	70,231	64,612	60,935
Provision for loan losses	123	109	81	75	134	87	28	249	15	738	755	669
Earnings before income taxes	8,720	9,862	9,889	9,154	8,888	8,772	8,503	6,924	6,514	7,115	6,684	4,862	37,625	33,087	25,175
Net earnings	$ 5,958	$ 6,088	$ 6,201	$ 5,616	$ 6,100	$ 5,351	$ 5,154	$ 4,172	$ 4,163	$ 4,481	$ 4,247	$ 2,978	$ 23,863	$ 20,777	$ 15,869
Basic earnings per common share (in dollars per share)	$ 0.78	$ 0.80	$ 0.81	$ 0.74	$ 0.81	$ 0.71	$ 0.68	$ 0.55	$ 0.56	$ 0.60	$ 0.57	$ 0.40	$ 3.13	$ 2.75	$ 2.12
Diluted earnings per common share (in dollars per share)	$ 0.78	$ 0.80	$ 0.81	$ 0.74	$ 0.81	$ 0.71	$ 0.68	$ 0.55	$ 0.55	$ 0.60	$ 0.57	$ 0.40	$ 3.13	$ 2.75	$ 2.12