Wilson Bank Holding Company - Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Balance Sheets

December 31, 2018 and 2017



	Dollars In Thousands
	2018				2017
ASSETS
Cash	$	2,759		*	1,589		*
Investment in wholly-owned commercial bank subsidiary	293,420				266,159
Deferred income taxes	469				178
Refundable income taxes	177				181
Total assets	$	296,825			268,107
LIABILITIES AND STOCKHOLDERS’ EQUITY
Stock appreciation rights payable	$	1,158			377
Total liabilities	1,158				377

Stockholders’ equity:
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 10,623,810 and 10,450,711 shares issued and outstanding, respectively	21,248				20,901
Additional paid-in capital	73,960				66,047
Retained earnings	208,164				185,017
Net unrealized losses on available-for-sale securities, net of income taxes of $2,726 and $1,498, respectively	(7,705		)		(4,235	)
Total stockholders’ equity	295,667				267,730
Total liabilities and stockholders’ equity	$	296,825			268,107


*	Eliminated in consolidation.

Statements of Earnings

Three Years Ended December 31, 2018



	Dollars In Thousands
	2018			2017		2016
Income:
Dividends from commercial bank subsidiary	$	3,000		1,500		1,500
Expenses:
Directors’ fees	254			334		327
Other	1,351			805		194
	1,605			1,139		521
Income before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary	1,395			361		979
Federal income tax benefits	468			359		169
	1,863			720		1,148
Equity in undistributed earnings of commercial bank subsidiary	30,731		*	22,806	*	24,485	*
Net earnings	$	32,594		23,526		25,633


*	Eliminated in consolidation

Statements of Cash Flows

Three Years Ended December 31, 2018

Increase (Decrease) in Cash and Cash Equivalents



	Dollars In Thousands
	2018			2017		2016
Cash flows from operating activities:
Cash paid to suppliers and other	$	(367	)	(447	)	(417	)
Tax benefits received	181			169		198
Net cash used in operating activities	(186		)	(278	)	(219	)
Cash flows from investing activities:
Dividends received from commercial bank subsidiary	3,000			1,500		1,500
Net cash provided by investing activities	3,000			1,500		1,500
Cash flows from financing activities:
Payments made to stock appreciation rights holders	(61		)	—		—
Dividends paid	(9,447		)	(6,729	)	(5,756	)
Proceeds from sale of stock pursuant to dividend reinvestment plan	7,470			5,266		4,316
Proceeds from exercise of stock options	394			152		152
Net cash used in financing activities	(1,644		)	(1,311	)	(1,288	)
Net increase (decrease) in cash and cash equivalents	1,170			(89	)	(7	)
Cash and cash equivalents at beginning of year	1,589			1,678		1,685
Cash and cash equivalents at end of year	$	2,759		1,589		1,678

WILSON BANK HOLDING COMPANY

(Parent Company Only)

Statements of Cash Flows, Continued

Three Years Ended December 31, 2018

Increase (Decrease) in Cash and Cash Equivalents



	Dollars in Thousands
	2018			2017		2016
Reconciliation of net earnings to net cash used in operating activities:
Net earnings	$	32,594		23,526		25,633
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of commercial bank subsidiary	(33,731		)	(24,306	)	(25,985	)
Decrease (increase) in refundable income taxes	5			(12	)	29
Increase in deferred taxes	(291		)	(178	)	—
Share based compensation expense	1,237			692		104
Total adjustments	(32,780		)	(23,804	)	(25,852	)
Net cash used in operating activities	$	(186	)	(278	)	(219	)