Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 09, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | WBHC | ||
Entity Registrant Name | WILSON BANK HOLDING CO | ||
Entity Central Index Key | 885,275 | ||
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 | 10,521,834 | ||
Entity Public Float | $ 410,843,318 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Loans, net of allowance for loan losses of $23,909 and $22,731, respectively | $ 1,727,253 | $ 1,667,088 |
Held-to-maturity, at amortized cost (market value $32,111 and $36,145, respectively) | 32,480 | 36,624 |
Available-for-sale, at market (amortized cost $338,449 and $319,201, respectively) | 332,716 | 312,585 |
Total securities | 365,196 | 349,209 |
Loans held for sale | 5,106 | 14,788 |
Interest bearing deposits | 44,465 | 0 |
Restricted equity securities, at cost | 3,012 | 3,012 |
Total earning assets | 2,145,032 | 2,034,097 |
Cash and due from banks | 51,053 | 47,918 |
Premises and equipment, net | 54,215 | 44,414 |
Accrued interest receivable | 6,266 | 6,104 |
Deferred income taxes | 7,424 | 10,758 |
Other real estate | 1,635 | 4,527 |
Bank owned life insurance | 29,475 | 28,616 |
Goodwill | 4,805 | 4,805 |
Other assets | 17,128 | 16,812 |
Total assets | 2,317,033 | 2,198,051 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Deposits | 2,037,745 | 1,942,135 |
Securities sold under repurchase agreements | 864 | 736 |
Accrued interest and other liabilities | 10,694 | 10,560 |
Total liabilities | 2,049,303 | 1,953,431 |
Stockholders’ equity: | ||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 10,450,711 and 10,319,673 shares issued and outstanding, respectively | 20,901 | 20,639 |
Additional paid-in capital | 66,047 | 60,541 |
Retained earnings | 185,017 | 167,523 |
Net unrealized losses on available-for-sale securities, net of taxes of $1,498 and $2,533, respectively | (4,235) | (4,083) |
Total stockholders’ equity | 267,730 | 244,620 |
COMMITMENTS AND CONTINGENCIES | ||
Total liabilities and stockholders’ equity | $ 2,317,033 | $ 2,198,051 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 23,909 | $ 22,731 |
Held-to-maturity, market value | 32,111 | 36,145 |
Available-for-sale, amortized cost | $ 338,449 | $ 319,201 |
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 10,450,711 | 10,319,673 |
Common stock, shares outstanding | 10,450,711 | 10,319,673 |
Net unrealized losses on available-for-sale securities, income taxes | $ 1,498 | $ 2,533 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest income: | |||
Interest and fees on loans | $ 83,120 | $ 77,024 | $ 71,543 |
Interest and dividends on securities: | |||
Taxable securities | 5,397 | 5,714 | 5,868 |
Exempt from Federal income taxes | 1,208 | 1,191 | 768 |
Interest on loans held for sale | 324 | 391 | 385 |
Interest on Federal funds sold | 271 | 304 | 154 |
Interest on interest bearing deposits | 549 | 0 | 0 |
Interest and dividends on restricted equity securities | 151 | 122 | 121 |
Total interest income | 91,020 | 84,746 | 78,839 |
Interest expense: | |||
Interest on negotiable order of withdrawal accounts | 1,308 | 1,371 | 1,515 |
Interest on money market accounts and other savings accounts | 2,211 | 1,915 | 1,906 |
Interest on certificates of deposit and individual retirement accounts | 5,353 | 4,978 | 5,179 |
Interest on securities sold under repurchase agreements | 9 | 3 | 7 |
Interest on Federal funds purchased | 8 | 17 | 1 |
Total interest expense | 8,889 | 8,284 | 8,608 |
Net interest income before provision for loan losses | 82,131 | 76,462 | 70,231 |
Provision for loan losses | 1,681 | 379 | 388 |
Net interest income after provision for loan losses | 80,450 | 76,083 | 69,843 |
Non-interest income | 22,836 | 21,728 | 19,941 |
Non-interest expense | (60,406) | (57,337) | (52,159) |
Earnings before income taxes | 42,880 | 40,474 | 37,625 |
Income taxes | 19,354 | 14,841 | 13,762 |
Net earnings | $ 23,526 | $ 25,633 | $ 23,863 |
Basic earnings per common share (in dollars per share) | $ 2.26 | $ 2.49 | $ 2.35 |
Diluted earnings per common share (in dollars per share) | $ 2.26 | $ 2.49 | $ 2.35 |
Weighted average common shares outstanding: | |||
Basic (in shares) | 10,407,211 | 10,279,332 | 10,165,477 |
Diluted (in shares) | 10,412,536 | 10,284,328 | 10,170,180 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net earnings | $ 23,526 | $ 25,633 | $ 23,863 |
Other comprehensive earnings (losses), net of tax: | |||
Net unrealized gains (losses) on available-for-sale securities arising during period, net of taxes of $271, $1,830, and $35, respectively | 437 | (2,948) | (58) |
Revaluation of deferred tax assets due to change in tax rates | (697) | 0 | 0 |
Reclassification adjustment for net losses (gains) included in net earnings, net of taxes of $67, $176, and $71, respectively | 108 | (284) | (114) |
Other comprehensive losses | (152) | (3,232) | (172) |
Comprehensive earnings | $ 23,374 | $ 22,401 | $ 23,691 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gains (losses) on available-for-sale securities arising during period, taxes | $ 271 | $ (1,830) | $ (35) |
Reclassification adjustment for net gains (losses) included in net earnings, taxes | $ (67) | $ 176 | $ 71 |
Consolidated Statements of Chan
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, 2014 | $ 200,892 | $ 15,144 | $ 57,709 | $ 128,718 | $ (679) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cash dividends declared, $.49, $.56, and $.65 per share for the period ended 2015, 2016, and 2017, respectively | (4,935) | (4,935) | |||
Issuance of 72,543, 98,318, and 125,960 shares of stock pursuant to dividend reinvestment plan for the period 2015, 2016 and 2017, respectively | 3,511 | 145 | 3,366 | ||
Issuance of 7,633, 5,120, and 5,078 shares of stock pursuant to exercise of stock options for the period 2015, 2016 and 2017, 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 $106, $2,006, and $338 for the period 2015, 2016 and 2017 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) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cash dividends declared, $.49, $.56, and $.65 per share for the period ended 2015, 2016, and 2017, respectively | (5,756) | (5,756) | |||
Issuance of 72,543, 98,318, and 125,960 shares of stock pursuant to dividend reinvestment plan for the period 2015, 2016 and 2017, respectively | 4,316 | 197 | 4,119 | ||
Issuance of 7,633, 5,120, and 5,078 shares of stock pursuant to exercise of stock options for the period 2015, 2016 and 2017, respectively | 152 | 10 | 142 | ||
Issuance of 2,564,091 shares of common stock pursuant to a 4 for 3 stock split | 0 | 5,128 | (5,128) | ||
Share based compensation expense | 69 | 69 | |||
Net change in fair value of available-for-sale securities during the year, net of taxes of $106, $2,006, and $338 for the period 2015, 2016 and 2017 respectively | (3,232) | (3,232) | |||
Net earnings for the year | 25,633 | 25,633 | |||
Ending balance at Dec. 31, 2016 | 244,620 | 20,639 | 60,541 | 167,523 | (4,083) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cash dividends declared, $.49, $.56, and $.65 per share for the period ended 2015, 2016, and 2017, respectively | (6,729) | (6,729) | |||
Issuance of 72,543, 98,318, and 125,960 shares of stock pursuant to dividend reinvestment plan for the period 2015, 2016 and 2017, respectively | 5,266 | 252 | 5,014 | ||
Issuance of 7,633, 5,120, and 5,078 shares of stock pursuant to exercise of stock options for the period 2015, 2016 and 2017, respectively | 152 | 10 | 142 | ||
Reclassification of deferred tax asset revaluation | 0 | 697 | (697) | ||
Share based compensation expense | 350 | 350 | |||
Net change in fair value of available-for-sale securities during the year, net of taxes of $106, $2,006, and $338 for the period 2015, 2016 and 2017 respectively | 545 | 545 | |||
Net earnings for the year | 23,526 | 23,526 | |||
Ending balance at Dec. 31, 2017 | $ 267,730 | $ 20,901 | $ 66,047 | $ 185,017 | $ (4,235) |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | |
Cash dividends declared, per shares (in dollars per share) | $ / shares | $ 0.65 | $ 0.56 | $ 0.49 |
Shares of stock pursuant to dividend reinvestment plan | 125,960 | 98,318 | 72,543 |
Shares of stock pursuant to exercise of stock options | 5,078 | 5,120 | 7,633 |
Net change in fair value of available-for-sale securities, tax | $ | $ (338) | $ (2,006) | $ (106) |
Shares of stock pursuant to stock split | 2,564,091 | ||
Stock split, conversion ratio | 1.3333 | ||
Common Stock | |||
Shares of stock pursuant to dividend reinvestment plan | 125,960 | 98,318 | 72,543 |
Shares of stock pursuant to exercise of stock options | 5,078 | 5,120 | 7,633 |
Shares of stock pursuant to stock split | 2,564,091 | ||
Additional Paid-In Capital | |||
Shares of stock pursuant to dividend reinvestment plan | 125,960 | 98,318 | 72,543 |
Shares of stock pursuant to exercise of stock options | 5,078 | 6,120 | 7,633 |
Retained Earnings | |||
Cash dividends declared, per shares (in dollars per share) | $ / shares | $ 0.65 | $ 0.56 | $ 0.49 |
Net Unrealized Gain (Loss) On Available-For-Sale Securities | |||
Net change in fair value of available-for-sale securities, tax | $ | $ (338) | $ (2,006) | $ (106) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Interest received | $ 93,506 | $ 86,641 | $ 81,054 |
Fees and other income received | 17,876 | 16,029 | 15,346 |
Proceeds from sales of loans | 149,775 | 160,816 | 157,261 |
Origination of loans held for sale | (135,835) | (161,114) | (153,882) |
Interest paid | (8,612) | (8,278) | (8,728) |
Cash paid to suppliers and employees | (57,643) | (53,454) | (51,474) |
Income taxes paid | (16,400) | (13,837) | (13,937) |
Net cash provided by operating activities | 42,667 | 26,803 | 25,640 |
Cash flows from investing activities: | |||
Purchase of available-for-sale securities | (96,180) | (181,285) | (125,000) |
Proceeds from calls, maturities and paydowns of available-for-sale securities | 38,839 | 102,596 | 95,620 |
Proceeds from sale of available-for-sale securities | 35,555 | 90,007 | 42,845 |
Purchase of held-to-maturity securities | 0 | (11,479) | (4,413) |
Proceeds from maturities and paydowns of held-to-maturity securities | 3,859 | 2,742 | 4,079 |
Loans made to customers, net of repayments | (61,826) | (223,950) | (114,456) |
Purchase of bank owned life insurance and annuity contracts | 0 | (11,916) | (8,464) |
Purchase of bank premises and equipment | (12,660) | (5,147) | (4,612) |
Proceeds from sale of other assets | 43 | 15 | 12 |
Proceeds from sale of other real estate | 2,876 | 581 | 3,000 |
Net cash used in investing activities | (89,494) | (237,836) | (111,389) |
Cash flows from financing activities: | |||
Net increase in non-interest bearing, savings, NOW and money market deposit accounts | 87,116 | 158,775 | 160,760 |
Net increase (decrease) in time deposits | 8,494 | (6,490) | (31,180) |
Net increase (decrease) in securities sold under agreements to repurchase | 128 | (1,299) | (1,402) |
Dividends paid | (6,729) | (5,756) | (4,935) |
Proceeds from sale of common stock pursuant to dividend reinvestment | 5,266 | 4,316 | 3,511 |
Proceeds from sale of common stock pursuant to exercise of stock options | 152 | 152 | 241 |
Net cash provided by financing activities | 94,427 | 149,698 | 126,995 |
Net increase (decrease) in cash and cash equivalents | 47,600 | (61,335) | 41,246 |
Cash and cash equivalents at beginning of year | 47,918 | 109,253 | 68,007 |
Cash and cash equivalents at end of year | 95,518 | 47,918 | 109,253 |
Reconciliation of net earnings to net cash provided by operating activities: | |||
Net earnings | 23,526 | 25,633 | 23,863 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation, amortization and accretion | 5,507 | 5,515 | 4,578 |
Provision for loan losses | 1,681 | 379 | 388 |
Share based compensation expense | 692 | 69 | 38 |
Provision for deferred tax expense (benefit) | (607) | (164) | 1,238 |
Revaluation of deferred tax assets due to change in tax rates | 3,603 | 0 | 0 |
Gains on sales of other real estate, net | (6) | (52) | (362) |
Loss on sales of other assets | 15 | 1 | 2 |
Loss on sales of premises and equipment | 0 | 73 | 53 |
Security loss (gain) | 175 | (460) | (185) |
Decrease (increase) in loans held for sale | 9,682 | (4,653) | (669) |
Increase (decrease) in taxes payable | (42) | 1,168 | (1,413) |
Increase in other assets, bank owned life insurance and annuity contract earnings | (1,231) | (2,408) | (1,161) |
Decrease (increase) in accrued interest receivable | (162) | (860) | 219 |
Increase (decrease) in interest payable | 277 | 6 | (120) |
Increase (decrease) in other liabilities | (443) | 2,556 | (829) |
Total adjustments | 19,141 | 1,170 | 1,777 |
Net cash provided by operating activities | 42,667 | 26,803 | 25,640 |
Supplemental Schedule of Non-Cash Activities: | |||
Change in unrealized loss in value of securities available-for-sale, net of taxes of $1,035 in 2017, $2,006 in 2016, and $106 in 2015 | (152) | (3,232) | (172) |
Non-cash transfers from loans to other real estate | 173 | 696 | 1,930 |
Non-cash transfers from other real estate to loans | 195 | 1,050 | 1,180 |
Non-cash transfers from loans to other assets | $ 2 | $ 16 | $ 4 |
Consolidated Statements of Ca10
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Cash Flows [Abstract] | |||
Unrealized loss in values of securities available-for-sale, net of taxes | $ (1,035) | $ (2,006) | $ (106) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
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 Davidson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at the main office and twenty-six 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 23% , 38% and 22% and 22% , 42% and 20% of the loan portfolio at December 31, 2017 and 2016 , 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 independent 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, historical loan loss factors, loss experience of various loan segments, 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) Wilson 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, 2017 , the minimum required investment was approximately $2.6 million. 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) Equity-Based Incentives Stock compensation accounting guidance (FASB ASC 718, “ Compensation—Stock Compensation” ) requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, cash-settled stock appreciation rights (SARs), and employee share purchase plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and cash-settled SARs. (r) Advertising Costs Advertising costs are expensed as incurred by the Company and totaled $2,326,000 , $2,310,000 and $2,337,000 for 2017 , 2016 and 2015 , 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 2016 and 2015 figures to conform to the presentation for 2017 . (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) Stock Split The Company paid a 4 for 3 stock split to stockholders on March 30, 2016. Each stockholder received four (4) shares of common stock for each three (3) shares owned with no allowance for fractional shares. Per share data and stock options included in these financial statements for periods prior to 2017 has been restated to give effect to the stock split. (x) Recently Adopted Accounting Pronouncements Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606) .” ASU 2014-09 implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 was originally going to be effective for us on January 1, 2017; however, the FASB recently issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606) - Deferral of the Effective Date" which deferred the effective date of ASU 2014-09 by one year to January 1, 2018. Our revenue is comprised of net interest income on financial assets and financial liabilities, which is explicitly excluded from the scope of ASU 2014-09, and non-interest income. We expect that ASU 2014-09 will require us to change how we recognize certain recurring revenue streams within investment management fees, insurance commissions and fees and other categories of non-interest income; however, we do not expect these changes to have a significant impact on our financial statements. We expect to adopt the standard in the first quarter of 2018. In February 2016, FASB issued ASU 2016-02, "Leases (Topic 842) ." The amendments in this ASU are effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. As a result of the amendment, lessees will need to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustments, such as adjustments for initial direct costs. For income statement purposes, FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. We currently do not expect this ASU to have a material impact on our consolidated financial statements. In June 2016, FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on held-to-maturity debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. We are currently evaluating the potential impact of ASU 2016-13 on our financial statements. We are also evaluating the sufficiency of current systems and data needed to comply with this ASU. While we are currently unable to reasonably estimate the impact of adopting ASU 2016-13, we expect that the impact of adoption will be significantly influenced by the composition, characteristics and quality of our loan and securities portfolios as well as the prevailing economic conditions and forecasts as of the adoption date. In August 2016, FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230) : Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230. The update addresses eight specific cash flow issues including, but not limited to, proceeds from the settlement of bank-owned life insurance policies, with the objective of reducing the existing diversity in practice. ASU 2016-15 will be effective on January 1, 2018. We do not expect adoption of this standard to be significant to our financial statements. In January 2017, FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates Step 2 from the goodwill impairment test which required entities to compute the implied fair value of goodwill. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 will be effective for us on January 1, 2020, with early adoption permitted for interim or annual impairment tests beginning in 2017. ASU 2017-04 is not expected to have a significant impact on our financial statements. In March 2017, FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) - Premium Amortization on Purchased Callable Debt Securities.” ASU 2017-08 provides guidance on the amortization period for certain purchased callable debt securities held at a premium. This update shortens the amortization period for the premium to the earliest call date. Under current generally accepted accounting principles, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument related to certain cash flow issues. ASU 2017-08 will be effective for us on January 1, 2019. We are currently evaluating the potential impact of ASU 2017-08 on our financial statements. Other than those previously discussed, there were no other recently issued accounting pronouncements that may materially impact the Company. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Loans and Allowance for Loan Losses The classification of loans at December 31, 2017 and 2016 is as follows: In Thousands 2017 2016 Mortgage loans on real estate: Residential 1-4 family $ 406,667 393,268 Multifamily 91,992 109,410 Commercial 661,223 689,695 Construction 392,039 297,315 Farmland 34,212 46,314 Second mortgages 8,952 9,193 Equity lines of credit 60,650 56,038 Total mortgage loans on real estate 1,655,735 1,601,233 Commercial loans 47,939 40,301 Agriculture loans 1,665 1,562 Consumer installment loans: Personal 39,624 41,117 Credit cards 3,385 3,157 Total consumer installment loans 43,009 44,274 Other loans 10,193 9,055 1,758,541 1,696,425 Net deferred loan fees (7,379 ) (6,606 ) Total loans 1,751,162 1,689,819 Less: Allowance for loan losses (23,909 ) (22,731 ) Loans, net $ 1,727,253 1,667,088 At December 31, 2017 , variable rate and fixed rate loans totaled $1,252,794,000 and $505,747,000 , respectively. At December 31, 2016 , variable rate and fixed rate loans totaled $1,178,865,000 and $517,560,000 , 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 $7,759,000 and $9,692,000 at December 31, 2017 and 2016 , 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, 2017 . An analysis of the activity with respect to such loans to related parties is as follows: In Thousands December 31, 2017 2016 Balance, January 1 $ 9,692 6,576 New loans and renewals during the year 15,299 16,295 Repayments (including loans paid by renewal) during the year (17,232 ) (13,179 ) Balance, December 31 $ 7,759 9,692 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 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 loans may be unsecured or secured by an assignment of title, as in an automobile loan, or by money in a bank account. In addition to consumer installment loans, this portfolio segment also includes secured and unsecured personal lines of credit as well as overdraft protection lines. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures. 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, 2017 and 2016 : In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 With no related allowance recorded: Residential 1-4 family $ 2,314 2,322 — 742 103 Multifamily — — — — — Commercial real estate 893 889 — 902 39 Construction 1,185 1,182 — 1,354 64 Farmland — — — 26 — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 4,392 4,393 — 3,024 206 In Thousands Record Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 With allowance recorded: Residential 1-4 family $ 409 581 136 461 29 Multifamily — — — — — Commercial real estate 2,157 2,157 291 2,894 17 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 2,566 2,738 427 3,355 46 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 Total: Residential 1-4 family $ 2,723 2,903 136 1,203 132 Multifamily — — — — — Commercial real estate 3,050 3,046 291 3,796 56 Construction 1,185 1,182 — 1,354 64 Farmland — — — 26 — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 6,958 7,131 427 6,379 252 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2016 With no related allowance recorded: Residential 1-4 family $ 150 148 — 150 7 Multifamily — — — — — Commercial real estate 4,248 4,246 — 4,352 38 Construction 1,623 1,618 — 1,778 82 Farmland 104 103 — 79 5 Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 6,125 6,115 — 6,359 132 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2016 With allowance recorded: Residential 1-4 family $ 540 531 196 540 32 Multifamily — — — — — Commercial real estate 443 443 120 111 5 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 983 974 316 651 37 December 31, 2016 Total: Residential 1-4 family $ 690 679 196 690 39 Multifamily — — — — — Commercial real estate 4,691 4,689 120 4,463 43 Construction 1,623 1,618 — 1,778 82 Farmland 104 103 — 79 5 Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 7,108 7,089 316 7,010 169 The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2017 and 2016 . Loans on Nonaccrual Status In Thousands 2017 2016 Residential 1-4 family $ — — Multifamily — — Commercial real estate 1,729 3,255 Construction — — Farmland 310 310 Second mortgages — — Equity lines of credit — — Commercial — — Agricultural, installment and other 1 — Total $ 2,040 3,565 The amount of interest income that would have been recognized for the years ended December 31, 2017 and 2016 amounted to $117,000 and $202,000 , respectively, if the above nonaccrual loans had been current. Potential problem loans, which include nonperforming loans, amounted to approximately $16.2 million at December 31, 2017 compared to $16.2 million at December 31, 2016 . 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 Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total Credit Risk Profile by Internally Assigned Grade December 31, 2017 Pass $ 395,664 91,992 657,456 391,778 33,500 8,765 60,553 47,937 54,697 1,742,342 Special mention 5,677 — 646 84 125 43 41 2 77 6,695 Substandard 5,326 — 3,121 177 587 144 56 — 93 9,504 Doubtful — — — — — — — — — — Total $ 406,667 91,992 661,223 392,039 34,212 8,952 60,650 47,939 54,867 1,758,541 December 31, 2016 Pass $ 384,383 109,410 684,202 297,089 45,470 8,775 55,883 40,301 54,754 1,680,267 Special mention 5,616 — 668 121 147 303 — — 26 6,881 Substandard 3,269 — 4,825 105 697 115 155 — 111 9,277 Doubtful — — — — — — — — — — Total $ 393,268 109,410 689,695 297,315 46,314 9,193 56,038 40,301 54,891 1,696,425 Age Analysis of Past Due Loans In Thousands 30-59 60-89 Nonaccrual Total Current Total Loans Recorded December 31, 2017 Residential 1-4 family $ 3,631 524 673 4,828 401,839 406,667 673 Multifamily — — — — 91,992 91,992 — Commercial real estate — 83 1,729 1,812 659,411 661,223 — Construction 433 — 113 546 391,493 392,039 113 Farmland 112 — 310 422 33,790 34,212 — Second mortgages — — 2 2 8,950 8,952 2 Equity lines of credit — — 41 41 60,609 60,650 41 Commercial 2 137 — 139 47,800 47,939 — Agricultural, installment and other 432 57 149 638 54,229 54,867 148 Total $ 4,610 801 3,017 8,428 1,750,113 1,758,541 977 December 31, 2016 Residential 1-4 family $ 3,311 1,307 1,434 6,052 387,216 393,268 1,434 Multifamily — — — — 109,410 109,410 — Commercial real estate 41 175 3,335 3,551 686,144 689,695 80 Construction 1,872 53 22 1,947 295,368 297,315 22 Farmland 56 1,163 410 1,629 44,685 46,314 100 Second mortgages 177 — 11 188 9,005 9,193 11 Equity lines of credit 40 148 17 205 55,833 56,038 17 Commercial 37 4 — 41 40,260 40,301 — Agricultural, installment and other 385 85 143 613 54,278 54,891 143 Total $ 5,919 2,935 5,372 14,226 1,682,199 1,696,425 1,807 Transactions in the allowance for loan losses for the years ended December 31, 2017 and 2016 are summarized as follows: In Thousands Residential Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total December 31, 2017 Allowance for loan losses: Beginning balance $ 4,571 839 9,541 5,387 658 112 675 386 562 22,731 Provision 675 172 (414 ) 586 (168 ) (10 ) 45 9 786 1,681 Charge-offs (118 ) — — — (3 ) (11 ) — — (1,090 ) (1,222 ) Recoveries 28 — 140 121 — 3 3 6 418 719 Ending balance $ 5,156 1,011 9,267 6,094 487 94 723 401 676 23,909 Ending balance individually evaluated for impairment $ 136 — 291 — — — — — — 427 Ending balance collectively evaluated for impairment $ 5,020 1,011 8,976 6,094 487 94 723 401 676 23,482 Loans: Ending balance $ 406,667 91,992 661,223 392,039 34,212 8,952 60,650 47,939 54,867 1,758,541 Ending balance individually evaluated for impairment $ 2,678 — 3,046 1,182 — — — — — 6,906 Ending balance collectively evaluated for impairment $ 403,989 91,992 658,177 390,857 34,212 8,952 60,650 47,939 54,867 1,751,635 In thousands Residential Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total December 31, 2016 Allowance for loan losses: Beginning balance $ 5,024 619 9,986 5,136 654 106 594 301 480 22,900 Provision (400 ) 220 (399 ) 283 2 2 66 81 524 379 Charge-offs (109 ) — (100 ) (66 ) — — — (11 ) (674 ) (960 ) Recoveries 56 — 54 34 2 4 15 15 232 412 Ending balance $ 4,571 839 9,541 5,387 658 112 675 386 562 22,731 Ending balance individually evaluated for impairment $ 196 — 120 — — — — — — 316 Ending balance collectively evaluated for impairment $ 4,375 839 9,421 5,387 658 112 675 386 562 22,415 Loans: Ending balance $ 393,268 109,410 689,695 297,315 46,314 9,193 56,038 40,301 54,891 1,696,425 Ending balance individually evaluated for impairment $ 679 — 4,689 1,618 103 — — — — 7,089 Ending balance collectively evaluated for impairment $ 392,589 109,410 685,006 295,697 46,211 9,193 56,038 40,301 54,891 1,689,336 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, 2017 and December 31, 2016 (dollars in thousands): 2017 2016 Performing TDRs $ 2,250 3,277 Nonperforming TDRs 1,834 1,319 Total TDRs $ 4,084 4,596 The following table outlines the amount of each troubled debt restructuring categorized by loan classification for the years ended December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Number Pre Post Number of Pre Post Residential 1-4 family 6 610 535 4 130 130 Multifamily — — — — — — Commercial real estate — — — 2 1,364 1,244 Construction — — — — — — Farmland 1 86 86 1 103 103 Second mortgages — — — — — — Equity lines of credit — — — — — — Commercial — — — — — — Agricultural, installment and other 1 3 3 2 17 17 Total 8 699 624 9 1,614 1,494 As of December 31, 2017 , the Company had one loan totaling $103,000 previously classified as a troubled debt restructuring default within twelve months of the restructuring. As of December 31, 2016 , the Company did not have any loans previously classified as troubled debt restructurings 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 2017 , 2016 and 2015 , the Company originated mortgage loans for sale into the secondary market of $135,835,000 , $161,114,000 and $153,882,000 , respectively. The fees and gain on sale of these loans totaled $4,258,000 , $4,355,000 and $4,048,000 in 2017 , 2016 and 2015 , 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 buyer to seek recourse against Wilson Bank in certain circumstances. At December 31, 2017 and 2016 , total mortgage loans sold with recourse in the secondary market aggregated $105,308,000 and $124,480,000 , respectively. At December 31, 2017 , Wilson Bank has not been required to repurchase a significant amount of the mortgage loans originated by Wilson Bank and sold in the secondary market. Management expects no material losses to result from these recourse provisions. |
Debt and Equity Securities
Debt and Equity Securities | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 consist of the following: Securities Held-To-Maturity In Thousands Amortized Gross Gross Estimated Mortgage-backed: Government-sponsored enterprises (GSEs)* residential $ 9,886 31 156 9,761 Obligations of states and political subdivisions 22,594 66 310 22,350 $ 32,480 97 466 32,111 Securities Available-For-Sale In Thousands Amortized Gross Gross Estimated Government-sponsored enterprises (GSEs)* $ 74,690 4 1,714 72,980 Mortgage-backed: GSE residential 200,175 302 2,551 197,926 Asset-backed: SBAP 26,387 — 789 25,598 Obligations of states and political subdivisions 37,197 7 992 36,212 $ 338,449 313 6,046 332,716 * 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, 2016 is as follows: Securities Held-To-Maturity In Thousands Amortized Gross Gross Estimated Mortgage-backed: Government-sponsored enterprises (GSEs)* residential $ 11,856 48 230 11,674 Obligations of states and political subdivisions 24,768 142 439 24,471 $ 36,624 190 669 36,145 Securities Available-For-Sale In Thousands Amortized Gross Gross Estimated Government-sponsored enterprises (GSEs)* $ 61,879 — 2,391 59,488 Mortgage-backed: GSE residential 166,316 496 2,447 164,365 Asset-backed: SBAP 37,577 9 729 36,857 Obligations of states and political subdivisions 53,429 52 1,606 51,875 $ 319,201 557 7,173 312,585 * 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 $17,361,000 (fair value of $17,133,000 ) and $16,015,000 (fair value of $15,814,000 ) at December 31, 2017 and 2016 , respectively. The amortized cost and estimated market value of debt securities at December 31, 2017 , 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 $ 3,594 3,591 Due after one year through five years 7,218 7,229 Due after five years through ten years 8,809 8,652 Due after ten years 2,973 2,878 22,594 22,350 Mortgage-backed securities 9,886 9,761 $ 32,480 32,111 In Thousands Securities Available-For-Sale Amortized Cost Estimated Market Value Due in one year or less $ 100 100 Due after one year through five years 16,770 16,495 Due after five years through ten years 68,004 66,277 Due after ten years 27,013 26,320 111,887 109,192 Mortgage and asset-backed securities 226,562 223,524 $ 338,449 332,716 Results from sales of debt and equity securities are as follows: In Thousands 2017 2016 2015 Gross proceeds $ 35,555 90,007 42,845 Gross realized gains $ 76 716 261 Gross realized losses (251 ) (256 ) (76 ) Net realized gains (losses) $ (175 ) 460 185 Securities carried on the balance sheet of approximately $213,154,000 (approximate market value of $209,575,000 ) and $196,397,000 (approximate market value of $192,484,000 ) were pledged to secure public deposits and for other purposes as required or permitted by law at December 31, 2017 and 2016 , respectively. Included in the securities above are $23,670,000 and $9,464,000 (approximate market value of $23,404,000 and $9,121,000 ) and $27,412,000 and $10,840,000 (approximate market value of $27,088,000 and $10,269,000 ) at December 31, 2017 and 2016 , respectively, in obligations of political subdivisions located within the State of Tennessee and Texas, respectively. Management purchases only obligations of such political subdivisions it considers to be financially sound. Securities that have rates that adjust prior to maturity totaled $53,248,000 (approximate market value of $53,040,000 ) and $50,991,000 (approximate market value of $51,132,000 ) at December 31, 2017 and 2016 , 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, 2017 . Available-for-sale and held-to-maturity securities that have been in a continuous unrealized loss position at December 31, 2017 and 2016 are as follows: In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total 2017 Fair Value Unrealized Number Fair Value Unrealized Number Fair Value Unrealized Held-to-Maturity Securities: Debt securities: Mortgage-backed: GSE residential $ 3,316 $ 21 4 $ 5,206 $ 135 5 $ 8,522 $ 156 Obligations of states and political subdivisions 10,137 46 27 7,278 264 18 17,415 310 $ 13,453 $ 67 31 $ 12,484 $ 399 23 $ 25,937 $ 466 Available-for-Sale Securities: Debt securities: GSEs $ 16,099 $ 190 8 $ 55,726 $ 1,524 21 $ 71,825 $ 1,714 Mortgage-backed: GSE residential 92,180 769 43 81,434 1,782 54 173,614 2,551 Asset-backed: SBAP 9,087 181 7 16,510 608 8 25,597 789 Obligations of states and political subdivisions 12,128 113 22 21,762 879 56 33,890 992 $ 129,494 $ 1,253 80 $ 175,432 $ 4,793 139 $ 304,926 $ 6,046 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total 2016 Fair Value Unrealized Number Fair Value Unrealized Number Fair Value Unrealized Held-to-Maturity Securities: Debt securities: Mortgage-backed: GSE residential $ 8,177 $ 151 7 $ 1,704 $ 79 1 $ 9,881 $ 230 Obligations of states and political subdivisions 16,081 439 41 — — — 16,081 439 $ 24,258 $ 590 48 $ 1,704 $ 79 1 $ 25,962 $ 669 Available-for-Sale Securities: Debt securities: GSEs $ 59,488 $ 2,391 23 $ — $ — — $ 59,488 $ 2,391 Mortgage-backed: GSE residential 124,011 2,350 64 6,918 97 9 130,929 2,447 Asset-backed: SBAP 33,579 729 17 — — — 33,579 729 Obligations of states and political subdivisions 42,801 1,606 116 — — — 42,801 1,606 $ 259,879 $ 7,076 220 $ 6,918 $ 97 9 $ 266,797 $ 7,173 Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the impairment is related to credit losses. The amount of the impairment related to other factors is recognized in other comprehensive income. In estimating other-than-temporary impairment losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and our ability to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in cost. Management has the ability and intent to hold the securities classified as held-to-maturity in the table above until they mature, at which time we will receive full value for the securities. Furthermore, as of December 31, 2017, management does not have the intent to sell any of the securities classified as available-for-sale in the table above and believes that it is more likely than not that we will not have to sell any such securities before a recovery of cost. Any unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the bonds approach their maturity date or repricing date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of December 31, 2017, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in our consolidated statements of earnings. |
Restricted Equity Securities
Restricted Equity Securities | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Restricted Equity Securities | Restricted Equity Securities Restricted equity securities consists of stock of the FHLB of Cincinnati amounting to $3,012,000 at December 31, 2017 and 2016 . 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. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Premises and Equipment The detail of premises and equipment at December 31, 2017 and 2016 is as follows: In Thousands 2017 2016 Land $ 17,022 17,022 Buildings 31,686 29,937 Leasehold improvements 425 368 Furniture and equipment 12,521 9,760 Automobiles 353 304 Construction-in-progress 10,895 2,851 72,902 60,242 Less accumulated depreciation (18,687 ) (15,828 ) $ 54,215 44,414 During 2017 , 2016 and 2015 , payments of $5,934,000 , $1,361,000 and $1,222,000 , respectively, were made to an entity owned by a director for the construction of buildings and repair work. Depreciation expense was $2,859,000 , $2,760,000 and $2,582,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Acquired Intangible Assets and
Acquired Intangible Assets and Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquired Intangible Assets and Goodwill | Acquired Intangible Assets and Goodwill The Company's intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of two previously 50% owned subsidiaries that the Company acquired 100% of in 2005. In Thousands 2017 2016 Goodwill: Balance at January 1, $ 4,805 4,805 Goodwill acquired during year — — Impairment loss — — Balance at December 31, $ 4,805 4,805 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits Deposits at December 31, 2017 and 2016 are summarized as follows: In Thousands 2017 2016 Demand deposits $ 239,559 226,971 Savings accounts 136,549 123,749 Negotiable order of withdrawal accounts 495,930 454,487 Money market demand accounts 648,606 628,321 Certificates of deposit $250,000 or greater 67,614 64,938 Other certificates of deposit 370,608 360,871 Individual retirement accounts $250,000 or greater 6,954 8,417 Other individual retirement accounts 71,925 74,381 $ 2,037,745 1,942,135 Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2017 are as follows: (In Thousands) Maturity Total 2018 $ 255,732 2019 102,230 2020 76,186 2021 47,816 2022 21,769 Thereafter 13,368 $ 517,101 The aggregate amount of overdrafts reclassified as loans receivable was $531,000 and $481,000 at December 31, 2017 and 2016 , respectively. As of December 31, 2017 and 2016 , Wilson Bank was not required to maintain a cash balance with the Federal Reserve. |
Securities Sold Under Repurchas
Securities Sold Under Repurchase Agreements | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Securities Sold Under Repurchase Agreements | Securities Sold Under Repurchase Agreements Securities sold under repurchase agreements were $864,000 and $736,000 at December 31, 2017 and 2016 , respectively. The maximum amounts of outstanding repurchase agreements at any month end during 2017 and 2016 were $1,843,000 and $2,070,000 , respectively. The average daily balance outstanding during 2017 and 2016 was $1,382,000 and $1,214,000 , respectively. The weighted-average interest rates on the outstanding balance at December 31, 2017 and 2016 were 1.47% and 0.25% , respectively. The underlying securities are typically held by other financial institutions and are designated as pledged. |
Non-Interest Income and Non-Int
Non-Interest Income and Non-Interest Expense | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 and 2015 are presented below: In Thousands 2017 2016 2015 Non-interest income: Service charges on deposits $ 6,124 $ 5,769 5,148 Other fees and commissions 11,752 10,260 9,321 BOLI and annuity earnings 871 832 877 Security gains (losses), net (175 ) 460 185 Fees and gains on sales of mortgage loans 4,258 4,355 4,048 Gain on sale of other real estate, net 6 52 362 $ 22,836 21,728 19,941 In Thousands 2017 2016 2015 Non-interest expense: Employee salaries and benefits $ 35,830 34,106 31,556 Equity based compensation 692 104 38 Occupancy expenses 3,718 3,638 3,444 Furniture and equipment expenses 2,085 2,019 2,063 Loss on the sales of premises and equipment, net — 73 53 Loss on sales of other assets, net 15 1 2 Data processing expenses 2,834 2,576 2,476 FDIC insurance 683 968 953 Directors’ fees 677 691 735 Other operating expenses 13,872 13,161 10,839 $ 60,406 57,337 52,159 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes In December 2017, the Tax Cuts and Jobs Act was signed into law. As a result, the statutory corporate tax rate was lowered from 35% to 21%, effective January 1, 2018. In accordance with accounting principles generally accepted in the United States of America, the effect of rate changes are to be recorded as an adjustment to income in the year of enactment. As a result of the Tax Cuts and Jobs Act being signed into law, the Company revalued all deferred taxes to reflect the new statutory corporate tax rate, resulting in a $3,603,000 charge to deferred tax expense in the fourth quarter of 2017. This charge included $697,000 related to unrealized losses on available-for-sale securities. Unrealized losses on available-for-sale securities are recognized as a component of equity as other comprehensive income. Management has elected to reclassify the $697,000 expense related to the available-for-sale rate change from retained earnings to other comprehensive income. The components of the net deferred tax asset are as follows: In Thousands 2017 2016 Deferred tax asset: Federal $ 7,222 11,316 State 2,068 1,863 9,290 13,179 Deferred tax liability: Federal (1,402 ) (2,010 ) State (464 ) (411 ) (1,866 ) (2,421 ) Net deferred tax asset $ 7,424 10,758 The tax effects of each type of significant item that gave rise to deferred tax assets (liabilities) are: In Thousands 2017 2016 Financial statement allowance for loan losses in excess of tax allowance $ 5,925 8,252 Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements (1,539 ) (1,941 ) Financial statement deduction for deferred compensation in excess of deduction for tax purposes 1,075 1,423 Writedown of other real estate not deductible for income tax purposes until sold 161 287 Financial statement income on FHLB stock dividends not recognized for tax purposes (327 ) (480 ) Unrealized loss on securities available-for-sale 1,498 2,533 Equity based compensation 178 — Other items, net 453 684 $ 7,424 10,758 The components of income tax expense (benefit) are summarized as follows: In Thousands Federal State Total 2017 Current $ 14,004 2,354 16,358 Deferred 3,205 (209 ) 2,996 Total $ 17,209 2,145 19,354 2016 Current $ 12,910 2,095 15,005 Deferred (136 ) (28 ) (164 ) Total $ 12,774 2,067 14,841 2015 Current $ 10,871 1,653 12,524 Deferred 1,028 210 1,238 Total $ 11,899 1,863 13,762 A reconciliation of actual income tax expense of $19,354,000 , $14,841,000 and $13,762,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively, to the “expected” tax expense (computed by applying the statutory rate of 34% to earnings before income taxes) is as follows: In Thousands 2017 2016 2015 Computed “expected” tax expense $ 14,579 13,761 12,793 State income taxes, net of Federal income tax benefit 1,346 1,364 1,243 Tax exempt interest, net of interest expense exclusion (415 ) (401 ) (266 ) Federal income tax rate in excess of statutory rate related to taxable income over $10 million 399 370 312 Earnings on cash surrender value of life insurance (292 ) (283 ) (298 ) Expenses not deductible for tax purposes 43 40 35 Equity based compensation expense 16 35 13 Revaluation of federal deferred tax assets due to change in tax rates 3,603 — — Other 75 (45 ) (70 ) $ 19,354 14,841 13,762 Total income tax expense for 2017 , 2016 and 2015 , includes $(67,000) , $176,000 and $71,000 of (benefit) expense related to the realized gain and loss, respectively, on sale of securities. As of December 31, 2017 , 2016 and 2015 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, 2017 . 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, 2017 , were approximately $9.3 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 2013. The Company’s Federal tax returns have been audited through December 31, 2004 with no changes. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
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 Company's 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 2018 $ 276 2019 276 2020 275 2021 232 2022 75 Total rent expense amounted to $215,000 , $204,000 and $192,000 , respectively, during the years ended December 31, 2017 , 2016 and 2015 . The Company has lines of credit with other financial institutions totaling $53,000,000 at December 31, 2017 and 2016. At December 31, 2017 and 2016, 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 $25,000,000 , selecting a variable rate of interest for up to 90 days or a fixed rate for a maximum of 30 days . There were no borrowings outstanding under the CMA at December 31, 2017 or December 31, 2016 . |
Financial Instruments with Off-
Financial Instruments with Off-Balance-Sheet Risk | 12 Months Ended |
Dec. 31, 2017 | |
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 2017 2016 Financial instruments whose contract amounts represent credit risk: Unused commitments to extend credit $ 605,114 483,818 Standby letters of credit 69,156 50,660 Total $ 674,270 534,478 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to be drawn upon, the total commitment amounts generally represent future cash requirements. The Company evaluates each customer's credit-worthiness on a case-by-case basis. The amount of collateral, if deemed necessary by the Company upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral normally consists of real property. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most guarantees extend from one to two years. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The fair value of standby letters of credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements, the likelihood of the counterparties drawing on such financial instruments and the present creditworthiness of such counterparties. Such commitments have been made on terms which are competitive in the markets in which the Company operates; thus, the fair value of standby letters of credit equals the carrying value for the purposes of this disclosure. The maximum potential amount of future payments that the Company could be required to make under the guarantees totaled $69.2 million at December 31, 2017. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | Concentration of Credit Risk Practically all of the Company’s loans, commitments, and commercial and standby letters of credit have been granted to customers in the Company’s market area. Practically all such customers are depositors of Wilson Bank. The concentrations of credit by type of loan are set forth in note 2 to the consolidated financial statements. At December 31, 2017 , the Company’s cash and due from banks and federal funds sold included commercial bank deposits aggregating $29,911,000 in excess of the FDIC limit of $250,000 per depositor. Interest bearing deposits totaling $44,465,000 were deposited with four banks. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [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, 2017 , 2016 and 2015 , Wilson Bank contributed $2,145,000 , $2,006,000 and $1,840,000 , respectively, to the 401(k) Plan. |
Dividend Reinvestment Plan
Dividend Reinvestment Plan | 12 Months Ended |
Dec. 31, 2017 | |
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 125,960 in 2017 , 98,318 in 2016 and 72,543 in 2015 were sold to participants under the terms of the DRIP. |
Regulatory Matters and Restrict
Regulatory Matters and Restrictions on Dividends | 12 Months Ended |
Dec. 31, 2017 | |
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 (each 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, 2017 and 2016 , that the Company and Wilson Bank meet all capital adequacy requirements to which they are subject. As of December 31, 2017 , 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 for purposes of prompt corrective action regulations as of December 31, 2017 and 2016 , 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, 2017 and 2016 , are presented in the following tables: Actual Regulatory Minimum Capital Requirement with Basel III Capital Conservation Buffer Regulatory Minimum To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2017 Total capital to risk weighted assets: Consolidated $ 291,395 14.2 % $ 189,658 9.25 % $ 205,036 10.0 % Wilson Bank 289,824 14.1 189,618 9.25 204,992 10.0 Tier 1 capital to risk weighted assets: Consolidated 267,159 13.0 148,651 7.25 123,021 6.0 Wilson Bank 265,588 13.0 148,619 7.25 163,994 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 267,159 13.0 117,895 5.75 N/A N/A Wilson Bank 265,588 13.0 117,871 5.75 133,245 6.5 Tier 1 capital to average assets: Consolidated 267,159 11.9 90,110 4.0 N/A N/A Wilson Bank 265,588 11.5 92,062 4.0 115,078 5.0 Actual Regulatory Minimum Capital Requirement with Basel III Capital Conservation Buffer Regulatory Minimum To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2016 Total capital to risk weighted assets: Consolidated $ 266,954 12.7 % $ 181,298 8.625 % $ 210,200 10.0 % Wilson Bank 265,142 12.6 181,496 8.625 210,430 10.0 Tier 1 capital to risk weighted assets: Consolidated 243,897 11.6 139,295 6.625 126,154 6.0 Wilson Bank 242,085 11.5 139,462 6.625 168,407 8.0 Common Equity Tier 1 capital to risk weighted assets: Consolidated 243,897 11.6 107,756 5.125 N/A N/A Wilson Bank 242,085 11.5 107,886 5.125 136,831 6.5 Tier 1 capital to average assets: Consolidated 243,897 11.2 87,106 4.0 N/A N/A Wilson Bank 242,085 11.1 87,238 4.0 109,047 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 . The guidelines under Basel III established 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. 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 Basel III minimum requirements after giving effect to the buffer as of January 1, of each year presented 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 % 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 opted out of this requirement. |
Salary Deferral Plans
Salary Deferral Plans | 12 Months Ended |
Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |
Salary Deferral Plans | Salary Deferral Plans The Company provides its executive officers certain non-qualified pension benefits through an Executive Salary Continuation Plan ("the Plan") and Supplemental Executive Retirement Plan (SERP) Agreements ("SERP Agreements"). The Plan and SERP agreements were established by the Board of Directors to reward executive management for past performance and to provide additional incentive to retain the service of executive management. The Plan and SERP Agreements generally provide executives with benefits of a portion of their salary beginning at retirement through life. As a result, the Company has accrued a liability for future obligations under the Plan and SERP Agreements. At December 31, 2017 and 2016 , the liability related to the Plan totaled $1,861,000 and $1,869,000 , respectively. At December 31, 2017 and 2016 the liability related to the SERP Agreements totaled $2,250,000 and $1,846,000 , respectively. The Company has purchased life insurance policies to provide the benefits related to the Plan, which at December 31, 2017 and 2016 had an aggregate cash surrender value of $3,791,000 and $3,688,000 , respectively, and an aggregate face value of insurance policies in force of $11,176,000 and $11,148,000 , respectively. The life insurance policies remain the sole property of the Company and are payable to the Company. The Company has also purchased bank owned life insurance policies on its executive officers. The insurance policies remain the sole property of the Company and are payable to the Company. The cash surrender value of the life insurance contracts totaled $25,684,000 and $24,928,000 and the face amount of the insurance policies in force approximated $61,239,000 and $61,287,000 at December 31, 2017 and 2016, respectively. The Company has also purchased Flexible Premium Indexed Deferred Annuity Contracts (“Annuity Contracts”) to provide benefits related to the SERP Agreements. The Annuity Contracts remain the sole property of the Company and are payable to the Company. Included in other assets at December 31, 2017 and 2016 are the Annuity Contracts with an aggregate value of $10,816,000 and $10,804,000 , respectively. |
Equity Incentive Plan
Equity Incentive Plan | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | Equity Incentive 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 provided for the granting of stock options, and authorized 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 could 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. The 1999 Stock Option Plan terminated on April 13, 2009 , and no additional rewards may be issued under the 1999 Stock Option Plan. The awards granted under the 1999 Stock Option Plan prior to the plan's termination will remain outstanding until exercised or otherwise terminated. In April 2009, the Company’s shareholders approved the Wilson Bank Holding Company 2009 Stock Option Plan (the “2009 Stock Option Plan”). The 2009 Stock Option Plan was effective as of April 14, 2009 and replaced the 1999 Stock Option Plan. 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 100,000 shares. As of December 31, 2017 , the Company has available to grant 50,722 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. During the second quarter of 2016, the Company’s shareholders approved the Wilson Bank Holding Company 2016 Equity Incentive Plan, which authorizes awards of up to 750,000 shares of common stock. The 2016 Equity Incentive Plan was approved by the Board of Directors and effective as of January 25, 2016 and approved by the Company’s shareholders on April 12, 2016. On September 26, 2016, the Board of Directors approved an amendment and restatement of the 2016 Equity Incentive Plan (as amended and restated the “2016 Equity Incentive Plan”) to make clear that directors who are not also employees of the Company may be awarded stock appreciation rights. The primary purpose of the 2016 Equity Incentive Plan is to promote the interest of the Company and its shareholders by, among other things, (i) attracting and retaining key officers, employees and directors of, and consultants to, the Company and its subsidiaries and affiliates, (ii) motivating those individuals by means of performance-related incentives to achieve long-range performance goals, (iii) enabling such individuals to participate in the long-term growth and financial success of the Company, (iv) encouraging ownership of stock in the Company by such individuals, and (v) linking their compensation to the long-term interests of the Company and its shareholders. Except for certain limitations, awards can be in the form of stock options (both incentive stock options and non-qualified stock options), stock appreciation rights, restricted shares and restricted share units, performance awards and other stock-based awards. As of December 31, 2017, the Company has 501,670 shares remaining available for issuance under the 2016 Equity Incentive Plan. The fair value of each stock option and cash-settled SAR grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used for grants in 2017 , 2016 and 2015 : 2017 2016 2015 Expected dividends 1.27 % 1.21 % 1.00 % Expected term (in years) 7.79 8.71 8.96 Expected stock price volatility 26 % 26 % 22 % Risk-free rate 2.23 % 2.02 % 2.02 % The expected stock price volatility is based on historical volatility adjusted for consideration of other relevant factors. The risk-free interest rates for periods within the contractual life of the awards are based on the U.S. Treasury yield curve in effect at the time of the grant. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. A summary of the stock option and cash-settled SAR activity for 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Shares Weighted Shares Weighted Shares Weighted Outstanding at beginning of year 183,747 $ 38.09 49,895 $ 30.19 58,092 $ 28.52 Granted 112,333 40.87 140,997 40.36 4,333 36.23 Exercised (5,078 ) 29.65 (5,545 ) 27.38 (10,177 ) 23.69 Forfeited or expired (5,222 ) 39.22 (1,600 ) 28.44 (2,353 ) 28.22 Outstanding at end of year 285,780 $ 39.31 183,747 $ 38.09 49,895 $ 30.19 Options and cash-settled SARs exercisable at year end 42,256 $ 36.66 13,553 $ 29.29 13,085 $ 28.55 The following table summarizes information about stock options and cash-settled SARs for the year ended December 31, 2017 : Options and Cash-Settled SARs Outstanding Options and Cash-Settled SARs Exercisable Range of Exercise Prices Number Weighted Weighted Number Weighted Weighted $22.22 - $33.56 28,751 $ 29.55 2.83 years 12,956 $ 29.01 2.42 years $33.57 - $42.75 257,029 $ 40.40 8.83 years 29,300 $ 40.05 8.67 years 285,780 42,256 Aggregate intrinsic value (in thousands) $ 1,553 $ 342 The weighted average fair value at the grant date of options and cash-settled SARs granted during the years 2017 , 2016 and 2015 was $12.59 , $11.29 and $12.72 , respectively. The total intrinsic value of options and cash-settled SARs exercised during the years 2017 , 2016 and 2015 was $62,000 , $65,000 and $129,000 , respectively. As of December 31, 2017 , there was $2,705,000 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 3.98 years . |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
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) 2017 2016 2015 Basic EPS Computation: Numerator - Earnings available to common stockholders $ 23,526 25,633 23,863 Denominator - Weighted average number of common shares outstanding 10,407,211 10,279,332 10,165,477 Basic earnings per common share $ 2.26 2.49 2.35 Diluted EPS Computation: Numerator - Earnings available to common stockholders $ 23,526 25,633 23,863 Denominator - Weighted average number of common shares outstanding 10,407,211 10,279,332 10,165,477 Dilutive effect of stock options 5,325 4,996 4,703 10,412,536 10,284,328 10,170,180 Diluted earnings per common share $ 2.26 2.49 2.35 |
Disclosures About Fair Value of
Disclosures About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
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 income or 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. 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 mortgage loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan and mortgage loans held for sale are included in Level 2 of the valuation hierarchy. The following tables present the financial instruments carried at fair value as of December 31, 2017 and December 31, 2016 , 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 Quoted Market Models with Models with December 31, 2017 Investment securities available-for-sale: U.S. Government sponsored enterprises $ 72,980 — 72,980 — Mortgage-backed securities 197,926 — 197,926 — Asset-backed securities 25,598 — 25,598 — State and municipal securities 36,212 — 36,212 — Total investment securities available-for-sale 332,716 — 332,716 — Mortgage loans held for sale 5,106 — 5,106 — Other assets 29,475 — — 29,475 Total $ 367,297 — 337,822 29,475 Measured on a Recurring Basis Total Carrying Quoted Market Models with Models with December 31, 2016 Investment securities available-for-sale: U.S. Government sponsored enterprises $ 59,488 — 59,488 — Mortgage-backed securities 164,365 — 164,365 — Asset-backed securities 36,857 — 36,857 — State and municipal securities 51,875 — 51,875 — Total investment securities available-for-sale 312,585 — 312,585 — Mortgage loans held for sale 14,788 — 14,788 — Other assets 28,616 — — 28,616 Total $ 355,989 — 327,373 28,616 Measured on a Non-Recurring Basis Total Carrying Quoted Market Models with Models with December 31, 2017 Other real estate owned $ 1,635 — — 1,635 Impaired loans, net (¹) 6,531 — — 6,531 Total $ 8,166 — — 8,166 December 31, 2016 Other real estate owned $ 4,527 — — 4,527 Impaired loans, net (¹) 6,792 — — 6,792 Total $ 11,319 — — 11,319 (¹) Amount is net of a valuation allowance of $427,000 at December 31, 2017 and $316,000 at December 31, 2016 as required by ASC 310, “Receivables.” The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 inputs to determine fair value at December 31, 2017 and 2016: Valuation Techniques (¹) Significant Unobservable Inputs Range (Weighted Average) Impaired loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% (¹) The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. In the case of its investment securities portfolio, the Company monitors the valuation technique utilized by various pricing agencies to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the twelve months ended December 31, 2017 , 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, 2017 and 2016 (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, 2017 2016 Other Other Other Other Fair value, January 1 $ 28,616 — $ 17,733 — Total realized gains included in income 859 — 673 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31 — — — — Purchases, issuances and settlements, net — — 10,210 — Transfers out of Level 3 — — — — Fair value, December 31 $ 29,475 — $ 28,616 — Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 $ 859 — $ 673 — 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, 2017 and December 31, 2016 . 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 held-to-maturity 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 - Fair values for deposits are estimated using discounted cash flow models, using current market interest rates offered on deposits with similar remaining maturities. Off-Balance Sheet Instruments - The fair values of the Company’s off-balance sheet financial instruments are based on fees charged to enter into similar agreements. However, commitments to extend credit do not represent a significant value to the Company until such commitments are funded. The following table presents the carrying amounts, estimated fair value and placement in the fair value hierarchy of the Company’s financial instruments at December 31, 2017 and December 31, 2016 . 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/ Estimated Quoted Market Models with Models with December 31, 2017 Financial assets: Securities held-to-maturity $ 32,480 32,111 — 32,111 — Loans, net 1,727,253 1,724,937 — — 1,724,937 Financial liabilities: Deposits and securities sold under agreements to repurchase 2,038,609 1,812,011 — — 1,812,011 Off-balance sheet instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — December 31, 2016 Financial assets: Securities held-to-maturity $ 36,624 36,145 — 36,145 — Loans, net 1,667,088 1,673,568 — — 1,673,568 Financial liabilities: Deposits and securities sold under agreements to repurchase 1,942,871 1,631,032 — — 1,631,032 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 - P
Wilson Bank Holding Company - Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Wilson Bank Holding Company - Parent Company Financial Information | Wilson Bank Holding Company - Parent Company Financial Information WILSON BANK HOLDING COMPANY (Parent Company Only) Balance Sheets December 31, 2017 and 2016 Dollars In Thousands 2017 2016 ASSETS Cash $ 1,589 * 1,678 * Investment in wholly-owned commercial bank subsidiary 266,159 242,808 Deferred income taxes 178 — Refundable income taxes 181 169 Total assets $ 268,107 244,655 LIABILITIES AND STOCKHOLDERS’ EQUITY Stock appreciation rights payable $ 377 35 Total liabilities $ 377 35 Stockholders’ equity: Common stock, par value $2.00 per share, authorized 50,000,000 and 15,000,000 shares, respectively, 10,450,711 and 10,319,673 shares issued and outstanding, respectively $ 20,901 20,639 Additional paid-in capital 66,047 60,541 Retained earnings 185,017 167,523 Net unrealized losses on available-for-sale securities, net of income taxes of $1,498 and $2,533, respectively (4,235 ) (4,083 ) Total stockholders’ equity 267,730 244,620 Total liabilities and stockholders’ equity $ 268,107 244,655 * Eliminated in consolidation. WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Earnings Three Years Ended December 31, 2017 Dollars In Thousands 2017 2016 2015 Expenses: Directors’ fees $ 334 327 350 Other 805 194 152 Loss before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary (1,139 ) (521 ) (502 ) Federal income tax benefits 359 169 198 (780 ) (352 ) (304 ) Equity in undistributed earnings of commercial bank subsidiary 24,306 * 25,985 * 24,167 * Net earnings $ 23,526 25,633 23,863 * Eliminated in consolidation. WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Cash Flows Three Years Ended December 31, 2017 Increase (Decrease) in Cash and Cash Equivalents Dollars In Thousands 2017 2016 2015 Cash flows from operating activities: Cash paid to suppliers and other $ (447 ) (417 ) (464 ) Tax benefits received 169 198 212 Net cash used in operating activities (278 ) (219 ) (252 ) Cash flows from investing activities: Dividends received from commercial bank subsidiary 1,500 1,500 2,000 Net cash provided by investing activities 1,500 1,500 2,000 Cash flows from financing activities: Dividends paid (6,729 ) (5,756 ) (4,935 ) Proceeds from sale of stock pursuant to dividend reinvestment plan 5,266 4,316 3,511 Proceeds from exercise of stock options 152 152 241 Net cash used in financing activities (1,311 ) (1,288 ) (1,183 ) Net increase (decrease) in cash and cash equivalents (89 ) (7 ) 565 Cash and cash equivalents at beginning of year 1,678 1,685 1,120 Cash and cash equivalents at end of year $ 1,589 1,678 1,685 WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Cash Flows, Continued Three Years Ended December 31, 2017 Increase (Decrease) in Cash and Cash Equivalents Dollars in Thousands 2017 2016 2015 Reconciliation of net earnings to net cash used in operating activities: Net earnings $ 23,526 25,633 23,863 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of commercial bank subsidiary (24,306 ) (25,985 ) (24,167 ) Decrease (increase) in refundable income taxes (12 ) 29 14 Increase in deferred taxes (178 ) — — Share based compensation expense 692 104 38 Total adjustments (23,804 ) (25,852 ) (24,115 ) Net cash used in operating activities $ (278 ) (219 ) (252 ) |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
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) 2017 2016 2015 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 $ 23,487 22,904 22,871 21,758 $ 22,078 21,454 20,877 20,337 $ 20,213 19,982 19,617 19,027 Interest expense 2,439 2,332 2,094 2,024 1,990 2,077 2,106 2,111 2,087 2,114 2,191 2,216 Net interest income 21,048 20,572 20,777 19,734 20,088 19,377 18,771 18,226 18,126 17,868 17,426 16,811 Provision for loan losses 436 436 420 389 89 141 82 67 123 109 81 75 Earnings before income taxes 10,694 10,438 11,386 10,362 10,120 11,095 10,162 9,097 8,720 9,862 9,889 9,154 Net earnings 3,574 6,469 6,988 6,495 6,802 6,918 6,270 5,643 5,958 6,088 6,201 5,616 Basic earnings per common share 0.34 0.62 0.67 0.63 0.66 0.67 0.61 0.55 0.59 0.60 0.61 0.55 Diluted earnings per common share 0.34 0.62 0.67 0.63 0.66 0.67 0.61 0.55 0.59 0.60 0.61 0.55 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , through the date of the issued financial statements. During this period there were no material recognizable subsequent events that required recognition in the disclosures to the Company's December 31, 2017 financial statements. |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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 Davidson County, Tennessee and surrounding counties in Middle Tennessee. Services are provided at the main office and twenty-six 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 independent 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, historical loan loss factors, loss experience of various loan segments, 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) Wilson 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. |
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, 2017 , the minimum required investment was approximately $2.6 million. 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. |
Equity-Based Incentives | Equity-Based Incentives Stock compensation accounting guidance (FASB ASC 718, “ Compensation—Stock Compensation” ) requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options, restricted share plans, performance-based awards, cash-settled stock appreciation rights (SARs), and employee share purchase plans. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and cash-settled SARs. |
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 2016 and 2015 figures to conform to the presentation for 2017 . |
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 Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606) .” ASU 2014-09 implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 was originally going to be effective for us on January 1, 2017; however, the FASB recently issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606) - Deferral of the Effective Date" which deferred the effective date of ASU 2014-09 by one year to January 1, 2018. Our revenue is comprised of net interest income on financial assets and financial liabilities, which is explicitly excluded from the scope of ASU 2014-09, and non-interest income. We expect that ASU 2014-09 will require us to change how we recognize certain recurring revenue streams within investment management fees, insurance commissions and fees and other categories of non-interest income; however, we do not expect these changes to have a significant impact on our financial statements. We expect to adopt the standard in the first quarter of 2018. In February 2016, FASB issued ASU 2016-02, "Leases (Topic 842) ." The amendments in this ASU are effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. As a result of the amendment, lessees will need to recognize a right-of-use asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustments, such as adjustments for initial direct costs. For income statement purposes, FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. We currently do not expect this ASU to have a material impact on our consolidated financial statements. In June 2016, FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments." ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on held-to-maturity debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. We are currently evaluating the potential impact of ASU 2016-13 on our financial statements. We are also evaluating the sufficiency of current systems and data needed to comply with this ASU. While we are currently unable to reasonably estimate the impact of adopting ASU 2016-13, we expect that the impact of adoption will be significantly influenced by the composition, characteristics and quality of our loan and securities portfolios as well as the prevailing economic conditions and forecasts as of the adoption date. In August 2016, FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230) : Classification of Certain Cash Receipts and Cash Payments.” ASU 2016-15 clarifies how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230. The update addresses eight specific cash flow issues including, but not limited to, proceeds from the settlement of bank-owned life insurance policies, with the objective of reducing the existing diversity in practice. ASU 2016-15 will be effective on January 1, 2018. We do not expect adoption of this standard to be significant to our financial statements. In January 2017, FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates Step 2 from the goodwill impairment test which required entities to compute the implied fair value of goodwill. Under ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 will be effective for us on January 1, 2020, with early adoption permitted for interim or annual impairment tests beginning in 2017. ASU 2017-04 is not expected to have a significant impact on our financial statements. In March 2017, FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) - Premium Amortization on Purchased Callable Debt Securities.” ASU 2017-08 provides guidance on the amortization period for certain purchased callable debt securities held at a premium. This update shortens the amortization period for the premium to the earliest call date. Under current generally accepted accounting principles, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument related to certain cash flow issues. ASU 2017-08 will be effective for us on January 1, 2019. We are currently evaluating the potential impact of ASU 2017-08 on our financial statements. Other than those previously discussed, there were no other recently issued accounting pronouncements that may 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. |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Receivables [Abstract] | |
Schedule of Details on Loans of Company | The classification of loans at December 31, 2017 and 2016 is as follows: In Thousands 2017 2016 Mortgage loans on real estate: Residential 1-4 family $ 406,667 393,268 Multifamily 91,992 109,410 Commercial 661,223 689,695 Construction 392,039 297,315 Farmland 34,212 46,314 Second mortgages 8,952 9,193 Equity lines of credit 60,650 56,038 Total mortgage loans on real estate 1,655,735 1,601,233 Commercial loans 47,939 40,301 Agriculture loans 1,665 1,562 Consumer installment loans: Personal 39,624 41,117 Credit cards 3,385 3,157 Total consumer installment loans 43,009 44,274 Other loans 10,193 9,055 1,758,541 1,696,425 Net deferred loan fees (7,379 ) (6,606 ) Total loans 1,751,162 1,689,819 Less: Allowance for loan losses (23,909 ) (22,731 ) Loans, net $ 1,727,253 1,667,088 |
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, 2017 2016 Balance, January 1 $ 9,692 6,576 New loans and renewals during the year 15,299 16,295 Repayments (including loans paid by renewal) during the year (17,232 ) (13,179 ) Balance, December 31 $ 7,759 9,692 |
Company's Impaired Loans | The following tables, present the Company’s impaired loans at December 31, 2017 and 2016 : In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 With no related allowance recorded: Residential 1-4 family $ 2,314 2,322 — 742 103 Multifamily — — — — — Commercial real estate 893 889 — 902 39 Construction 1,185 1,182 — 1,354 64 Farmland — — — 26 — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 4,392 4,393 — 3,024 206 In Thousands Record Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 With allowance recorded: Residential 1-4 family $ 409 581 136 461 29 Multifamily — — — — — Commercial real estate 2,157 2,157 291 2,894 17 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 2,566 2,738 427 3,355 46 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2017 Total: Residential 1-4 family $ 2,723 2,903 136 1,203 132 Multifamily — — — — — Commercial real estate 3,050 3,046 291 3,796 56 Construction 1,185 1,182 — 1,354 64 Farmland — — — 26 — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 6,958 7,131 427 6,379 252 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2016 With no related allowance recorded: Residential 1-4 family $ 150 148 — 150 7 Multifamily — — — — — Commercial real estate 4,248 4,246 — 4,352 38 Construction 1,623 1,618 — 1,778 82 Farmland 104 103 — 79 5 Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 6,125 6,115 — 6,359 132 In Thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized December 31, 2016 With allowance recorded: Residential 1-4 family $ 540 531 196 540 32 Multifamily — — — — — Commercial real estate 443 443 120 111 5 Construction — — — — — Farmland — — — — — Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 983 974 316 651 37 December 31, 2016 Total: Residential 1-4 family $ 690 679 196 690 39 Multifamily — — — — — Commercial real estate 4,691 4,689 120 4,463 43 Construction 1,623 1,618 — 1,778 82 Farmland 104 103 — 79 5 Second mortgages — — — — — Equity lines of credit — — — — — Commercial — — — — — Agricultural, installment and other — — — — — $ 7,108 7,089 316 7,010 169 |
Loans on Nonaccrual Status | The following tables present the Company’s nonaccrual loans, credit quality indicators and past due loans as of December 31, 2017 and 2016 . Loans on Nonaccrual Status In Thousands 2017 2016 Residential 1-4 family $ — — Multifamily — — Commercial real estate 1,729 3,255 Construction — — Farmland 310 310 Second mortgages — — Equity lines of credit — — Commercial — — Agricultural, installment and other 1 — Total $ 2,040 3,565 |
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 Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total Credit Risk Profile by Internally Assigned Grade December 31, 2017 Pass $ 395,664 91,992 657,456 391,778 33,500 8,765 60,553 47,937 54,697 1,742,342 Special mention 5,677 — 646 84 125 43 41 2 77 6,695 Substandard 5,326 — 3,121 177 587 144 56 — 93 9,504 Doubtful — — — — — — — — — — Total $ 406,667 91,992 661,223 392,039 34,212 8,952 60,650 47,939 54,867 1,758,541 December 31, 2016 Pass $ 384,383 109,410 684,202 297,089 45,470 8,775 55,883 40,301 54,754 1,680,267 Special mention 5,616 — 668 121 147 303 — — 26 6,881 Substandard 3,269 — 4,825 105 697 115 155 — 111 9,277 Doubtful — — — — — — — — — — Total $ 393,268 109,410 689,695 297,315 46,314 9,193 56,038 40,301 54,891 1,696,425 |
Age Analysis of Past Due Loans | Age Analysis of Past Due Loans In Thousands 30-59 60-89 Nonaccrual Total Current Total Loans Recorded December 31, 2017 Residential 1-4 family $ 3,631 524 673 4,828 401,839 406,667 673 Multifamily — — — — 91,992 91,992 — Commercial real estate — 83 1,729 1,812 659,411 661,223 — Construction 433 — 113 546 391,493 392,039 113 Farmland 112 — 310 422 33,790 34,212 — Second mortgages — — 2 2 8,950 8,952 2 Equity lines of credit — — 41 41 60,609 60,650 41 Commercial 2 137 — 139 47,800 47,939 — Agricultural, installment and other 432 57 149 638 54,229 54,867 148 Total $ 4,610 801 3,017 8,428 1,750,113 1,758,541 977 December 31, 2016 Residential 1-4 family $ 3,311 1,307 1,434 6,052 387,216 393,268 1,434 Multifamily — — — — 109,410 109,410 — Commercial real estate 41 175 3,335 3,551 686,144 689,695 80 Construction 1,872 53 22 1,947 295,368 297,315 22 Farmland 56 1,163 410 1,629 44,685 46,314 100 Second mortgages 177 — 11 188 9,005 9,193 11 Equity lines of credit 40 148 17 205 55,833 56,038 17 Commercial 37 4 — 41 40,260 40,301 — Agricultural, installment and other 385 85 143 613 54,278 54,891 143 Total $ 5,919 2,935 5,372 14,226 1,682,199 1,696,425 1,807 |
Transactions in Allowance for Loan Losses | Transactions in the allowance for loan losses for the years ended December 31, 2017 and 2016 are summarized as follows: In Thousands Residential Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total December 31, 2017 Allowance for loan losses: Beginning balance $ 4,571 839 9,541 5,387 658 112 675 386 562 22,731 Provision 675 172 (414 ) 586 (168 ) (10 ) 45 9 786 1,681 Charge-offs (118 ) — — — (3 ) (11 ) — — (1,090 ) (1,222 ) Recoveries 28 — 140 121 — 3 3 6 418 719 Ending balance $ 5,156 1,011 9,267 6,094 487 94 723 401 676 23,909 Ending balance individually evaluated for impairment $ 136 — 291 — — — — — — 427 Ending balance collectively evaluated for impairment $ 5,020 1,011 8,976 6,094 487 94 723 401 676 23,482 Loans: Ending balance $ 406,667 91,992 661,223 392,039 34,212 8,952 60,650 47,939 54,867 1,758,541 Ending balance individually evaluated for impairment $ 2,678 — 3,046 1,182 — — — — — 6,906 Ending balance collectively evaluated for impairment $ 403,989 91,992 658,177 390,857 34,212 8,952 60,650 47,939 54,867 1,751,635 In thousands Residential Multifamily Commercial Construction Farmland Second Equity Lines Commercial Agricultural, Total December 31, 2016 Allowance for loan losses: Beginning balance $ 5,024 619 9,986 5,136 654 106 594 301 480 22,900 Provision (400 ) 220 (399 ) 283 2 2 66 81 524 379 Charge-offs (109 ) — (100 ) (66 ) — — — (11 ) (674 ) (960 ) Recoveries 56 — 54 34 2 4 15 15 232 412 Ending balance $ 4,571 839 9,541 5,387 658 112 675 386 562 22,731 Ending balance individually evaluated for impairment $ 196 — 120 — — — — — — 316 Ending balance collectively evaluated for impairment $ 4,375 839 9,421 5,387 658 112 675 386 562 22,415 Loans: Ending balance $ 393,268 109,410 689,695 297,315 46,314 9,193 56,038 40,301 54,891 1,696,425 Ending balance individually evaluated for impairment $ 679 — 4,689 1,618 103 — — — — 7,089 Ending balance collectively evaluated for impairment $ 392,589 109,410 685,006 295,697 46,211 9,193 56,038 40,301 54,891 1,689,336 |
Summary of Carrying Balances of TDRs | The following table summarizes the carrying balances of TDRs at December 31, 2017 and December 31, 2016 (dollars in thousands): 2017 2016 Performing TDRs $ 2,250 3,277 Nonperforming TDRs 1,834 1,319 Total TDRs $ 4,084 4,596 |
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, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Number Pre Post Number of Pre Post Residential 1-4 family 6 610 535 4 130 130 Multifamily — — — — — — Commercial real estate — — — 2 1,364 1,244 Construction — — — — — — Farmland 1 86 86 1 103 103 Second mortgages — — — — — — Equity lines of credit — — — — — — Commercial — — — — — — Agricultural, installment and other 1 3 3 2 17 17 Total 8 699 624 9 1,614 1,494 |
Debt and Equity Securities (Tab
Debt and Equity Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 consist of the following: Securities Held-To-Maturity In Thousands Amortized Gross Gross Estimated Mortgage-backed: Government-sponsored enterprises (GSEs)* residential $ 9,886 31 156 9,761 Obligations of states and political subdivisions 22,594 66 310 22,350 $ 32,480 97 466 32,111 Securities Available-For-Sale In Thousands Amortized Gross Gross Estimated Government-sponsored enterprises (GSEs)* $ 74,690 4 1,714 72,980 Mortgage-backed: GSE residential 200,175 302 2,551 197,926 Asset-backed: SBAP 26,387 — 789 25,598 Obligations of states and political subdivisions 37,197 7 992 36,212 $ 338,449 313 6,046 332,716 * 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, 2016 is as follows: Securities Held-To-Maturity In Thousands Amortized Gross Gross Estimated Mortgage-backed: Government-sponsored enterprises (GSEs)* residential $ 11,856 48 230 11,674 Obligations of states and political subdivisions 24,768 142 439 24,471 $ 36,624 190 669 36,145 Securities Available-For-Sale In Thousands Amortized Gross Gross Estimated Government-sponsored enterprises (GSEs)* $ 61,879 — 2,391 59,488 Mortgage-backed: GSE residential 166,316 496 2,447 164,365 Asset-backed: SBAP 37,577 9 729 36,857 Obligations of states and political subdivisions 53,429 52 1,606 51,875 $ 319,201 557 7,173 312,585 * 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 $17,361,000 (fair value of $17,133,000 ) and $16,015,000 (fair value of $15,814,000 ) at December 31, 2017 and 2016 , respectively. The amortized cost and estimated market value of debt securities at December 31, 2017 , 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 $ 3,594 3,591 Due after one year through five years 7,218 7,229 Due after five years through ten years 8,809 8,652 Due after ten years 2,973 2,878 22,594 22,350 Mortgage-backed securities 9,886 9,761 $ 32,480 32,111 In Thousands Securities Available-For-Sale Amortized Cost Estimated Market Value Due in one year or less $ 100 100 Due after one year through five years 16,770 16,495 Due after five years through ten years 68,004 66,277 Due after ten years 27,013 26,320 111,887 109,192 Mortgage and asset-backed securities 226,562 223,524 $ 338,449 332,716 |
Sales of Debt and Equity Securities | Results from sales of debt and equity securities are as follows: In Thousands 2017 2016 2015 Gross proceeds $ 35,555 90,007 42,845 Gross realized gains $ 76 716 261 Gross realized losses (251 ) (256 ) (76 ) Net realized gains (losses) $ (175 ) 460 185 |
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, 2017 and 2016 are as follows: In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total 2017 Fair Value Unrealized Number Fair Value Unrealized Number Fair Value Unrealized Held-to-Maturity Securities: Debt securities: Mortgage-backed: GSE residential $ 3,316 $ 21 4 $ 5,206 $ 135 5 $ 8,522 $ 156 Obligations of states and political subdivisions 10,137 46 27 7,278 264 18 17,415 310 $ 13,453 $ 67 31 $ 12,484 $ 399 23 $ 25,937 $ 466 Available-for-Sale Securities: Debt securities: GSEs $ 16,099 $ 190 8 $ 55,726 $ 1,524 21 $ 71,825 $ 1,714 Mortgage-backed: GSE residential 92,180 769 43 81,434 1,782 54 173,614 2,551 Asset-backed: SBAP 9,087 181 7 16,510 608 8 25,597 789 Obligations of states and political subdivisions 12,128 113 22 21,762 879 56 33,890 992 $ 129,494 $ 1,253 80 $ 175,432 $ 4,793 139 $ 304,926 $ 6,046 In Thousands, Except Number of Securities Less than 12 Months 12 Months or More Total 2016 Fair Value Unrealized Number Fair Value Unrealized Number Fair Value Unrealized Held-to-Maturity Securities: Debt securities: Mortgage-backed: GSE residential $ 8,177 $ 151 7 $ 1,704 $ 79 1 $ 9,881 $ 230 Obligations of states and political subdivisions 16,081 439 41 — — — 16,081 439 $ 24,258 $ 590 48 $ 1,704 $ 79 1 $ 25,962 $ 669 Available-for-Sale Securities: Debt securities: GSEs $ 59,488 $ 2,391 23 $ — $ — — $ 59,488 $ 2,391 Mortgage-backed: GSE residential 124,011 2,350 64 6,918 97 9 130,929 2,447 Asset-backed: SBAP 33,579 729 17 — — — 33,579 729 Obligations of states and political subdivisions 42,801 1,606 116 — — — 42,801 1,606 $ 259,879 $ 7,076 220 $ 6,918 $ 97 9 $ 266,797 $ 7,173 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Detail of Premises and Equipment | The detail of premises and equipment at December 31, 2017 and 2016 is as follows: In Thousands 2017 2016 Land $ 17,022 17,022 Buildings 31,686 29,937 Leasehold improvements 425 368 Furniture and equipment 12,521 9,760 Automobiles 353 304 Construction-in-progress 10,895 2,851 72,902 60,242 Less accumulated depreciation (18,687 ) (15,828 ) $ 54,215 44,414 |
Acquired Intangible Assets an38
Acquired Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | The Company's intangible assets result from the excess of purchase price over the applicable book value of the net assets acquired related to outside ownership of two previously 50% owned subsidiaries that the Company acquired 100% of in 2005. In Thousands 2017 2016 Goodwill: Balance at January 1, $ 4,805 4,805 Goodwill acquired during year — — Impairment loss — — Balance at December 31, $ 4,805 4,805 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits at December 31, 2017 and 2016 are summarized as follows: In Thousands 2017 2016 Demand deposits $ 239,559 226,971 Savings accounts 136,549 123,749 Negotiable order of withdrawal accounts 495,930 454,487 Money market demand accounts 648,606 628,321 Certificates of deposit $250,000 or greater 67,614 64,938 Other certificates of deposit 370,608 360,871 Individual retirement accounts $250,000 or greater 6,954 8,417 Other individual retirement accounts 71,925 74,381 $ 2,037,745 1,942,135 |
Principal Maturities of Certificate of Deposit and Individual Retirement Accounts | Principal maturities of certificates of deposit and individual retirement accounts at December 31, 2017 are as follows: (In Thousands) Maturity Total 2018 $ 255,732 2019 102,230 2020 76,186 2021 47,816 2022 21,769 Thereafter 13,368 $ 517,101 |
Non-Interest Income and Non-I40
Non-Interest Income and Non-Interest Expense (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 , 2016 and 2015 are presented below: In Thousands 2017 2016 2015 Non-interest income: Service charges on deposits $ 6,124 $ 5,769 5,148 Other fees and commissions 11,752 10,260 9,321 BOLI and annuity earnings 871 832 877 Security gains (losses), net (175 ) 460 185 Fees and gains on sales of mortgage loans 4,258 4,355 4,048 Gain on sale of other real estate, net 6 52 362 $ 22,836 21,728 19,941 In Thousands 2017 2016 2015 Non-interest expense: Employee salaries and benefits $ 35,830 34,106 31,556 Equity based compensation 692 104 38 Occupancy expenses 3,718 3,638 3,444 Furniture and equipment expenses 2,085 2,019 2,063 Loss on the sales of premises and equipment, net — 73 53 Loss on sales of other assets, net 15 1 2 Data processing expenses 2,834 2,576 2,476 FDIC insurance 683 968 953 Directors’ fees 677 691 735 Other operating expenses 13,872 13,161 10,839 $ 60,406 57,337 52,159 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Components of the Net Deferred Tax Asset | The components of the net deferred tax asset are as follows: In Thousands 2017 2016 Deferred tax asset: Federal $ 7,222 11,316 State 2,068 1,863 9,290 13,179 Deferred tax liability: Federal (1,402 ) (2,010 ) State (464 ) (411 ) (1,866 ) (2,421 ) Net deferred tax asset $ 7,424 10,758 |
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 2017 2016 Financial statement allowance for loan losses in excess of tax allowance $ 5,925 8,252 Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements (1,539 ) (1,941 ) Financial statement deduction for deferred compensation in excess of deduction for tax purposes 1,075 1,423 Writedown of other real estate not deductible for income tax purposes until sold 161 287 Financial statement income on FHLB stock dividends not recognized for tax purposes (327 ) (480 ) Unrealized loss on securities available-for-sale 1,498 2,533 Equity based compensation 178 — Other items, net 453 684 $ 7,424 10,758 |
Summary of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are summarized as follows: In Thousands Federal State Total 2017 Current $ 14,004 2,354 16,358 Deferred 3,205 (209 ) 2,996 Total $ 17,209 2,145 19,354 2016 Current $ 12,910 2,095 15,005 Deferred (136 ) (28 ) (164 ) Total $ 12,774 2,067 14,841 2015 Current $ 10,871 1,653 12,524 Deferred 1,028 210 1,238 Total $ 11,899 1,863 13,762 |
Reconciliation of Actual Income Tax Expense to the Expected Tax Expense | A reconciliation of actual income tax expense of $19,354,000 , $14,841,000 and $13,762,000 for the years ended December 31, 2017 , 2016 and 2015 , respectively, to the “expected” tax expense (computed by applying the statutory rate of 34% to earnings before income taxes) is as follows: In Thousands 2017 2016 2015 Computed “expected” tax expense $ 14,579 13,761 12,793 State income taxes, net of Federal income tax benefit 1,346 1,364 1,243 Tax exempt interest, net of interest expense exclusion (415 ) (401 ) (266 ) Federal income tax rate in excess of statutory rate related to taxable income over $10 million 399 370 312 Earnings on cash surrender value of life insurance (292 ) (283 ) (298 ) Expenses not deductible for tax purposes 43 40 35 Equity based compensation expense 16 35 13 Revaluation of federal deferred tax assets due to change in tax rates 3,603 — — Other 75 (45 ) (70 ) $ 19,354 14,841 13,762 |
Commitments and Contingent Li42
Commitments and Contingent Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 2018 $ 276 2019 276 2020 275 2021 232 2022 75 |
Financial Instruments with Of43
Financial Instruments with Off-Balance-Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, All Other Investments [Abstract] | |
Financial Instruments Whose Contract Amounts Represent Credit Risk | In Thousands Contract or 2017 2016 Financial instruments whose contract amounts represent credit risk: Unused commitments to extend credit $ 605,114 483,818 Standby letters of credit 69,156 50,660 Total $ 674,270 534,478 |
Regulatory Matters and Restri44
Regulatory Matters and Restrictions on Dividends (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
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, 2017 and 2016 , are presented in the following tables: Actual Regulatory Minimum Capital Requirement with Basel III Capital Conservation Buffer Regulatory Minimum To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2017 Total capital to risk weighted assets: Consolidated $ 291,395 14.2 % $ 189,658 9.25 % $ 205,036 10.0 % Wilson Bank 289,824 14.1 189,618 9.25 204,992 10.0 Tier 1 capital to risk weighted assets: Consolidated 267,159 13.0 148,651 7.25 123,021 6.0 Wilson Bank 265,588 13.0 148,619 7.25 163,994 8.0 Common equity Tier 1 capital to risk weighted assets: Consolidated 267,159 13.0 117,895 5.75 N/A N/A Wilson Bank 265,588 13.0 117,871 5.75 133,245 6.5 Tier 1 capital to average assets: Consolidated 267,159 11.9 90,110 4.0 N/A N/A Wilson Bank 265,588 11.5 92,062 4.0 115,078 5.0 Actual Regulatory Minimum Capital Requirement with Basel III Capital Conservation Buffer Regulatory Minimum To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) December 31, 2016 Total capital to risk weighted assets: Consolidated $ 266,954 12.7 % $ 181,298 8.625 % $ 210,200 10.0 % Wilson Bank 265,142 12.6 181,496 8.625 210,430 10.0 Tier 1 capital to risk weighted assets: Consolidated 243,897 11.6 139,295 6.625 126,154 6.0 Wilson Bank 242,085 11.5 139,462 6.625 168,407 8.0 Common Equity Tier 1 capital to risk weighted assets: Consolidated 243,897 11.6 107,756 5.125 N/A N/A Wilson Bank 242,085 11.5 107,886 5.125 136,831 6.5 Tier 1 capital to average assets: Consolidated 243,897 11.2 87,106 4.0 N/A N/A Wilson Bank 242,085 11.1 87,238 4.0 109,047 5.0 |
Basel III Requirements [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
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 as of January 1, of each year presented 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 % |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Weighted-Average Black-Scholes Fair Value Assumptions | The fair value of each stock option and cash-settled SAR grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used for grants in 2017 , 2016 and 2015 : 2017 2016 2015 Expected dividends 1.27 % 1.21 % 1.00 % Expected term (in years) 7.79 8.71 8.96 Expected stock price volatility 26 % 26 % 22 % Risk-free rate 2.23 % 2.02 % 2.02 % |
Summary of Stock Option Activity | A summary of the stock option and cash-settled SAR activity for 2017 , 2016 and 2015 is as follows: 2017 2016 2015 Shares Weighted Shares Weighted Shares Weighted Outstanding at beginning of year 183,747 $ 38.09 49,895 $ 30.19 58,092 $ 28.52 Granted 112,333 40.87 140,997 40.36 4,333 36.23 Exercised (5,078 ) 29.65 (5,545 ) 27.38 (10,177 ) 23.69 Forfeited or expired (5,222 ) 39.22 (1,600 ) 28.44 (2,353 ) 28.22 Outstanding at end of year 285,780 $ 39.31 183,747 $ 38.09 49,895 $ 30.19 Options and cash-settled SARs exercisable at year end 42,256 $ 36.66 13,553 $ 29.29 13,085 $ 28.55 |
Summary of Information about Stock Options | The following table summarizes information about stock options and cash-settled SARs for the year ended December 31, 2017 : Options and Cash-Settled SARs Outstanding Options and Cash-Settled SARs Exercisable Range of Exercise Prices Number Weighted Weighted Number Weighted Weighted $22.22 - $33.56 28,751 $ 29.55 2.83 years 12,956 $ 29.01 2.42 years $33.57 - $42.75 257,029 $ 40.40 8.83 years 29,300 $ 40.05 8.67 years 285,780 42,256 Aggregate intrinsic value (in thousands) $ 1,553 $ 342 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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) 2017 2016 2015 Basic EPS Computation: Numerator - Earnings available to common stockholders $ 23,526 25,633 23,863 Denominator - Weighted average number of common shares outstanding 10,407,211 10,279,332 10,165,477 Basic earnings per common share $ 2.26 2.49 2.35 Diluted EPS Computation: Numerator - Earnings available to common stockholders $ 23,526 25,633 23,863 Denominator - Weighted average number of common shares outstanding 10,407,211 10,279,332 10,165,477 Dilutive effect of stock options 5,325 4,996 4,703 10,412,536 10,284,328 10,170,180 Diluted earnings per common share $ 2.26 2.49 2.35 |
Disclosures About Fair Value 47
Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 and December 31, 2016 , 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 Quoted Market Models with Models with December 31, 2017 Investment securities available-for-sale: U.S. Government sponsored enterprises $ 72,980 — 72,980 — Mortgage-backed securities 197,926 — 197,926 — Asset-backed securities 25,598 — 25,598 — State and municipal securities 36,212 — 36,212 — Total investment securities available-for-sale 332,716 — 332,716 — Mortgage loans held for sale 5,106 — 5,106 — Other assets 29,475 — — 29,475 Total $ 367,297 — 337,822 29,475 Measured on a Recurring Basis Total Carrying Quoted Market Models with Models with December 31, 2016 Investment securities available-for-sale: U.S. Government sponsored enterprises $ 59,488 — 59,488 — Mortgage-backed securities 164,365 — 164,365 — Asset-backed securities 36,857 — 36,857 — State and municipal securities 51,875 — 51,875 — Total investment securities available-for-sale 312,585 — 312,585 — Mortgage loans held for sale 14,788 — 14,788 — Other assets 28,616 — — 28,616 Total $ 355,989 — 327,373 28,616 |
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | Measured on a Non-Recurring Basis Total Carrying Quoted Market Models with Models with December 31, 2017 Other real estate owned $ 1,635 — — 1,635 Impaired loans, net (¹) 6,531 — — 6,531 Total $ 8,166 — — 8,166 December 31, 2016 Other real estate owned $ 4,527 — — 4,527 Impaired loans, net (¹) 6,792 — — 6,792 Total $ 11,319 — — 11,319 (¹) Amount is net of a valuation allowance of $427,000 at December 31, 2017 and $316,000 at December 31, 2016 as required by ASC 310, “Receivables.” |
Fair Value Inputs, Assets, Quantitative Information | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which we have utilized Level 3 inputs to determine fair value at December 31, 2017 and 2016: Valuation Techniques (¹) Significant Unobservable Inputs Range (Weighted Average) Impaired loans Appraisal Estimated costs to sell 10% Other real estate owned Appraisal Estimated costs to sell 10% (¹) The fair value is generally determined through independent appraisals of the underlying collateral, which may include Level 3 inputs that are not identifiable, or by using the discounted cash flow method if the loan is not collateral dependent. |
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, 2017 and 2016 (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, 2017 2016 Other Other Other Other Fair value, January 1 $ 28,616 — $ 17,733 — Total realized gains included in income 859 — 673 — Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at December 31 — — — — Purchases, issuances and settlements, net — — 10,210 — Transfers out of Level 3 — — — — Fair value, December 31 $ 29,475 — $ 28,616 — Total realized gains included in income related to financial assets and liabilities still on the consolidated balance sheet at December 31 $ 859 — $ 673 — |
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, 2017 and December 31, 2016 . 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/ Estimated Quoted Market Models with Models with December 31, 2017 Financial assets: Securities held-to-maturity $ 32,480 32,111 — 32,111 — Loans, net 1,727,253 1,724,937 — — 1,724,937 Financial liabilities: Deposits and securities sold under agreements to repurchase 2,038,609 1,812,011 — — 1,812,011 Off-balance sheet instruments: Commitments to extend credit — — — — — Standby letters of credit — — — — — December 31, 2016 Financial assets: Securities held-to-maturity $ 36,624 36,145 — 36,145 — Loans, net 1,667,088 1,673,568 — — 1,673,568 Financial liabilities: Deposits and securities sold under agreements to repurchase 1,942,871 1,631,032 — — 1,631,032 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 -48
Wilson Bank Holding Company - Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Balance Sheets - Parent Company Only | Balance Sheets December 31, 2017 and 2016 Dollars In Thousands 2017 2016 ASSETS Cash $ 1,589 * 1,678 * Investment in wholly-owned commercial bank subsidiary 266,159 242,808 Deferred income taxes 178 — Refundable income taxes 181 169 Total assets $ 268,107 244,655 LIABILITIES AND STOCKHOLDERS’ EQUITY Stock appreciation rights payable $ 377 35 Total liabilities $ 377 35 Stockholders’ equity: Common stock, par value $2.00 per share, authorized 50,000,000 and 15,000,000 shares, respectively, 10,450,711 and 10,319,673 shares issued and outstanding, respectively $ 20,901 20,639 Additional paid-in capital 66,047 60,541 Retained earnings 185,017 167,523 Net unrealized losses on available-for-sale securities, net of income taxes of $1,498 and $2,533, respectively (4,235 ) (4,083 ) Total stockholders’ equity 267,730 244,620 Total liabilities and stockholders’ equity $ 268,107 244,655 * Eliminated in consolidation. |
Statements of Earnings and Comprehensive Earnings - Parent Company Only | Statements of Earnings Three Years Ended December 31, 2017 Dollars In Thousands 2017 2016 2015 Expenses: Directors’ fees $ 334 327 350 Other 805 194 152 Loss before Federal income tax benefits and equity in undistributed earnings of commercial bank subsidiary (1,139 ) (521 ) (502 ) Federal income tax benefits 359 169 198 (780 ) (352 ) (304 ) Equity in undistributed earnings of commercial bank subsidiary 24,306 * 25,985 * 24,167 * Net earnings $ 23,526 25,633 23,863 * Eliminated in consolidation |
Statements of Cash Flows - Parent Company Only | Statements of Cash Flows Three Years Ended December 31, 2017 Increase (Decrease) in Cash and Cash Equivalents Dollars In Thousands 2017 2016 2015 Cash flows from operating activities: Cash paid to suppliers and other $ (447 ) (417 ) (464 ) Tax benefits received 169 198 212 Net cash used in operating activities (278 ) (219 ) (252 ) Cash flows from investing activities: Dividends received from commercial bank subsidiary 1,500 1,500 2,000 Net cash provided by investing activities 1,500 1,500 2,000 Cash flows from financing activities: Dividends paid (6,729 ) (5,756 ) (4,935 ) Proceeds from sale of stock pursuant to dividend reinvestment plan 5,266 4,316 3,511 Proceeds from exercise of stock options 152 152 241 Net cash used in financing activities (1,311 ) (1,288 ) (1,183 ) Net increase (decrease) in cash and cash equivalents (89 ) (7 ) 565 Cash and cash equivalents at beginning of year 1,678 1,685 1,120 Cash and cash equivalents at end of year $ 1,589 1,678 1,685 WILSON BANK HOLDING COMPANY (Parent Company Only) Statements of Cash Flows, Continued Three Years Ended December 31, 2017 Increase (Decrease) in Cash and Cash Equivalents Dollars in Thousands 2017 2016 2015 Reconciliation of net earnings to net cash used in operating activities: Net earnings $ 23,526 25,633 23,863 Adjustments to reconcile net earnings to net cash used in operating activities: Equity in earnings of commercial bank subsidiary (24,306 ) (25,985 ) (24,167 ) Decrease (increase) in refundable income taxes (12 ) 29 14 Increase in deferred taxes (178 ) — — Share based compensation expense 692 104 38 Total adjustments (23,804 ) (25,852 ) (24,115 ) Net cash used in operating activities $ (278 ) (219 ) (252 ) |
Quarterly Financial Data (Una49
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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) 2017 2016 2015 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 $ 23,487 22,904 22,871 21,758 $ 22,078 21,454 20,877 20,337 $ 20,213 19,982 19,617 19,027 Interest expense 2,439 2,332 2,094 2,024 1,990 2,077 2,106 2,111 2,087 2,114 2,191 2,216 Net interest income 21,048 20,572 20,777 19,734 20,088 19,377 18,771 18,226 18,126 17,868 17,426 16,811 Provision for loan losses 436 436 420 389 89 141 82 67 123 109 81 75 Earnings before income taxes 10,694 10,438 11,386 10,362 10,120 11,095 10,162 9,097 8,720 9,862 9,889 9,154 Net earnings 3,574 6,469 6,988 6,495 6,802 6,918 6,270 5,643 5,958 6,088 6,201 5,616 Basic earnings per common share 0.34 0.62 0.67 0.63 0.66 0.67 0.61 0.55 0.59 0.60 0.61 0.55 Diluted earnings per common share 0.34 0.62 0.67 0.63 0.66 0.67 0.61 0.55 0.59 0.60 0.61 0.55 |
Summary of Significant Accoun50
Summary of Significant Accounting Policies - Additional Information (Detail) | Mar. 30, 2016 | Dec. 31, 2017USD ($)securityBranchloanComponent | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Significant Accounting Policies [Line Items] | ||||
Number of full service branches | Branch | 26 | |||
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 | loan | 4 | |||
Securities classified as trading securities | security | 0 | |||
Federal Home Loan Bank Stock minimum required investment | $ 2,600,000 | |||
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 | $ 2,326,000 | $ 2,310,000 | $ 2,337,000 | |
Stock split, conversion ratio | 1.3333 | 1.3333 | ||
Residential 1-4 Family [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of Investment | 23.00% | 22.00% | ||
Construction Mortgage Loans [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of Investment | 22.00% | 20.00% | ||
Commercial Real Estate [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage of Investment | 38.00% | 42.00% | ||
Commercial [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 |
Loans and Allowance for Loan 51
Loans and Allowance for Loan Losses - Schedule of Details on Loans of Company (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | $ 1,758,541 | $ 1,696,425 | |
Net deferred loan fees | (7,379) | (6,606) | |
Total loans | 1,751,162 | 1,689,819 | |
Less: Allowance for loan losses | (23,909) | (22,731) | $ (22,900) |
Loans, net | 1,727,253 | 1,667,088 | |
Agricultural [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 1,665 | 1,562 | |
Residential 1-4 Family [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 406,667 | 393,268 | |
Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 661,223 | 689,695 | |
Farmland [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 34,212 | 46,314 | |
Construction [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 392,039 | 297,315 | |
Second mortgages [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 8,952 | 9,193 | |
Less: Allowance for loan losses | (94) | (112) | $ (106) |
Equity line of credit [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 60,650 | 56,038 | |
Mortgage loans on real estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 1,655,735 | 1,601,233 | |
Multifamily [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 91,992 | 109,410 | |
Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 47,939 | 40,301 | |
Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 43,009 | 44,274 | |
Consumer [Member] | Personal [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 39,624 | 41,117 | |
Consumer [Member] | Credit cards [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | 3,385 | 3,157 | |
Other [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total Loans | $ 10,193 | $ 9,055 |
Loans and Allowance for Loan 52
Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($)loan | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |||
Variable rate loans | $ 1,252,794 | $ 1,178,865 | |
Fixed rate loans | 505,747 | 517,560 | |
Prevailing interest rate loans | 7,759 | 9,692 | $ 6,576 |
Nonaccrual loans interest lost | $ 117 | 202 | |
Troubled debt restructuring number of loans | loan | 1,000 | ||
Troubled debt restructurings subsequently default within twelve months | $ 103 | ||
Loans in secondary market | 135,835 | 161,114 | 153,882 |
Gain on sale of loans in secondary market | 4,258 | 4,355 | 4,048 |
Loans sold with recourse | 105,308 | 124,480 | |
Cash dividends declared, $.49, $.56, and $.65 per share for the period ended 2015, 2016, and 2017, respectively | (6,729) | (5,756) | $ (4,935) |
Nonperforming [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Potential problem loans | $ 16,200 | $ 16,200 | |
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 |
Loans and Allowance for Loan 53
Loans and Allowance for Loan Losses - Schedule of Loans and Leases Receivable Related Parties (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Balance, January 1 | $ 9,692 | $ 6,576 |
New loans and renewals during the year | 15,299 | 16,295 |
Repayments (including loans paid by renewal) during the year | (17,232) | (13,179) |
Balance, December 31 | $ 7,759 | $ 9,692 |
Loans and Allowance for Loan 54
Loans and Allowance for Loan Losses - Company's Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 6,958 | $ 7,108 |
Unpaid Principal Balance | 7,131 | 7,089 |
Related Allowance | 427 | 316 |
Average Recorded Investment | 6,379 | 7,010 |
Interest Income Recognized | 252 | 169 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,723 | 690 |
Unpaid Principal Balance | 2,903 | 679 |
Related Allowance | 136 | 196 |
Average Recorded Investment | 1,203 | 690 |
Interest Income Recognized | 132 | 39 |
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 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 3,050 | 4,691 |
Unpaid Principal Balance | 3,046 | 4,689 |
Related Allowance | 291 | 120 |
Average Recorded Investment | 3,796 | 4,463 |
Interest Income Recognized | 56 | 43 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,185 | 1,623 |
Unpaid Principal Balance | 1,182 | 1,618 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,354 | 1,778 |
Interest Income Recognized | 64 | 82 |
Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 104 |
Unpaid Principal Balance | 0 | 103 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 26 | 79 |
Interest Income Recognized | 0 | 5 |
Second mortgages [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] | ||
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 |
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 |
With No Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 4,392 | 6,125 |
Unpaid Principal Balance | 4,393 | 6,115 |
Average Recorded Investment | 3,024 | 6,359 |
Interest Income Recognized | 206 | 132 |
With No Related Allowance Recorded [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,314 | 150 |
Unpaid Principal Balance | 2,322 | 148 |
Average Recorded Investment | 742 | 150 |
Interest Income Recognized | 103 | 7 |
With No Related Allowance Recorded [Member] | Multifamily [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 |
With No Related Allowance Recorded [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 893 | 4,248 |
Unpaid Principal Balance | 889 | 4,246 |
Average Recorded Investment | 902 | 4,352 |
Interest Income Recognized | 39 | 38 |
With No Related Allowance Recorded [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,185 | 1,623 |
Unpaid Principal Balance | 1,182 | 1,618 |
Average Recorded Investment | 1,354 | 1,778 |
Interest Income Recognized | 64 | 82 |
With No Related Allowance Recorded [Member] | Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 0 | 104 |
Unpaid Principal Balance | 0 | 103 |
Average Recorded Investment | 26 | 79 |
Interest Income Recognized | 0 | 5 |
With No Related Allowance Recorded [Member] | Second mortgages [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 |
With No Related Allowance Recorded [Member] | Equity Lines of Credit [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 |
With No Related Allowance Recorded [Member] | Commercial [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 |
With No Related Allowance Recorded [Member] | Agricultural, Installment and Other [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 |
With Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,566 | 983 |
Unpaid Principal Balance | 2,738 | 974 |
Related Allowance | 427 | 316 |
Average Recorded Investment | 3,355 | 651 |
Interest Income Recognized | 46 | 37 |
With Allowance Recorded [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 409 | 540 |
Unpaid Principal Balance | 581 | 531 |
Related Allowance | 136 | 196 |
Average Recorded Investment | 461 | 540 |
Interest Income Recognized | 29 | 32 |
With Allowance Recorded [Member] | 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 |
With Allowance Recorded [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,157 | 443 |
Unpaid Principal Balance | 2,157 | 443 |
Related Allowance | 291 | 120 |
Average Recorded Investment | 2,894 | 111 |
Interest Income Recognized | 17 | 5 |
With Allowance Recorded [Member] | Construction [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 |
With Allowance Recorded [Member] | Farmland [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 |
With Allowance Recorded [Member] | Second mortgages [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 |
With Allowance Recorded [Member] | 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 |
With Allowance Recorded [Member] | 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 |
With Allowance Recorded [Member] | 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 |
Loans and Allowance for Loan 55
Loans and Allowance for Loan Losses - Loans on Nonaccrual Status (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | $ 2,040 | $ 3,565 |
Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | 0 | 0 |
Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | 0 | 0 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | 1,729 | 3,255 |
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 | 310 | 310 |
Second mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | 0 | 0 |
Equity Lines of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans on Nonaccrual Status, Total | 0 | 0 |
Commercial [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 | $ 1 | $ 0 |
Loans and Allowance for Loan 56
Loans and Allowance for Loan Losses - Credit Quality Indicators (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | $ 1,758,541 | $ 1,696,425 |
Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 1,742,342 | 1,680,267 |
Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 6,695 | 6,881 |
Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 9,504 | 9,277 |
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 | 406,667 | 393,268 |
Residential 1-4 Family [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 395,664 | 384,383 |
Residential 1-4 Family [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 5,677 | 5,616 |
Residential 1-4 Family [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 5,326 | 3,269 |
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 | 91,992 | 109,410 |
Multifamily [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 91,992 | 109,410 |
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 | 661,223 | 689,695 |
Commercial Real Estate [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 657,456 | 684,202 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 646 | 668 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 3,121 | 4,825 |
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 | 392,039 | 297,315 |
Construction [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 391,778 | 297,089 |
Construction [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 84 | 121 |
Construction [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 177 | 105 |
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 | 34,212 | 46,314 |
Farmland [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 33,500 | 45,470 |
Farmland [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 125 | 147 |
Farmland [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 587 | 697 |
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 | 8,952 | 9,193 |
Second mortgages [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 8,765 | 8,775 |
Second mortgages [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 43 | 303 |
Second mortgages [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 144 | 115 |
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 | 60,650 | 56,038 |
Equity Lines of Credit [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 60,553 | 55,883 |
Equity Lines of Credit [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 41 | 0 |
Equity Lines of Credit [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 56 | 155 |
Equity Lines of Credit [Member] | Doubtful [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 0 | 0 |
Commercial [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 47,939 | 40,301 |
Commercial [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 47,937 | 40,301 |
Commercial [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 2 | 0 |
Commercial [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 0 | 0 |
Commercial [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 | 54,867 | 54,891 |
Agricultural, Installment and Other [Member] | Pass [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 54,697 | 54,754 |
Agricultural, Installment and Other [Member] | Special Mention [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 77 | 26 |
Agricultural, Installment and Other [Member] | Substandard [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | 93 | 111 |
Agricultural, Installment and Other [Member] | Doubtful [Member] | ||
Credit Risk Profile by Internally Assigned Grade | ||
Total Loans | $ 0 | $ 0 |
Loans and Allowance for Loan 57
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | $ 8,428 | $ 14,226 |
Current | 1,750,113 | 1,682,199 |
Total Loans | 1,758,541 | 1,696,425 |
Recorded Investment Greater Than 90 Days and Accruing | 977 | 1,807 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 4,828 | 6,052 |
Current | 401,839 | 387,216 |
Total Loans | 406,667 | 393,268 |
Recorded Investment Greater Than 90 Days and Accruing | 673 | 1,434 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
Current | 91,992 | 109,410 |
Total Loans | 91,992 | 109,410 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 1,812 | 3,551 |
Current | 659,411 | 686,144 |
Total Loans | 661,223 | 689,695 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 80 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 546 | 1,947 |
Current | 391,493 | 295,368 |
Total Loans | 392,039 | 297,315 |
Recorded Investment Greater Than 90 Days and Accruing | 113 | 22 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 422 | 1,629 |
Current | 33,790 | 44,685 |
Total Loans | 34,212 | 46,314 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 100 |
Second mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 2 | 188 |
Current | 8,950 | 9,005 |
Total Loans | 8,952 | 9,193 |
Recorded Investment Greater Than 90 Days and Accruing | 2 | 11 |
Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 41 | 205 |
Current | 60,609 | 55,833 |
Total Loans | 60,650 | 56,038 |
Recorded Investment Greater Than 90 Days and Accruing | 41 | 17 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 139 | 41 |
Current | 47,800 | 40,260 |
Total Loans | 47,939 | 40,301 |
Recorded Investment Greater Than 90 Days and Accruing | 0 | 0 |
Agricultural, Installment and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 638 | 613 |
Current | 54,229 | 54,278 |
Total Loans | 54,867 | 54,891 |
Recorded Investment Greater Than 90 Days and Accruing | 148 | 143 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 4,610 | 5,919 |
30-59 Days Past Due [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 3,631 | 3,311 |
30-59 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 41 |
30-59 Days Past Due [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 433 | 1,872 |
30-59 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 112 | 56 |
30-59 Days Past Due [Member] | Second mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 177 |
30-59 Days Past Due [Member] | Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 40 |
30-59 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 2 | 37 |
30-59 Days Past Due [Member] | Agricultural, Installment and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 432 | 385 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 801 | 2,935 |
60-89 Days Past Due [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 524 | 1,307 |
60-89 Days Past Due [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 83 | 175 |
60-89 Days Past Due [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 53 |
60-89 Days Past Due [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 1,163 |
60-89 Days Past Due [Member] | Second mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
60-89 Days Past Due [Member] | Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 148 |
60-89 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 137 | 4 |
60-89 Days Past Due [Member] | Agricultural, Installment and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 57 | 85 |
Nonaccrual and Greater than 90 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 3,017 | 5,372 |
Nonaccrual and Greater than 90 Days [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 673 | 1,434 |
Nonaccrual and Greater than 90 Days [Member] | Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
Nonaccrual and Greater than 90 Days [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 1,729 | 3,335 |
Nonaccrual and Greater than 90 Days [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 113 | 22 |
Nonaccrual and Greater than 90 Days [Member] | Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 310 | 410 |
Nonaccrual and Greater than 90 Days [Member] | Second mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 2 | 11 |
Nonaccrual and Greater than 90 Days [Member] | Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 41 | 17 |
Nonaccrual and Greater than 90 Days [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | 0 | 0 |
Nonaccrual and Greater than 90 Days [Member] | Agricultural, Installment and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Nonaccrual and Past Due | $ 149 | $ 143 |
Loans and Allowance for Loan 58
Loans and Allowance for Loan Losses - Transactions in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for loan losses: | ||
Beginning balance | $ 22,731 | $ 22,900 |
Provision | 1,681 | 379 |
Charge-offs | (1,222) | (960) |
Recoveries | 719 | 412 |
Ending balance | 23,909 | 22,731 |
Ending balance individually evaluated for impairment | 427 | 316 |
Ending balance collectively evaluated for impairment | 23,482 | 22,415 |
Loans: | ||
Ending balance | 1,758,541 | 1,696,425 |
Ending balance individually evaluated for impairment | 6,906 | 7,089 |
Ending balance collectively evaluated for impairment | 1,751,635 | 1,689,336 |
Residential 1-4 Family [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 4,571 | 5,024 |
Provision | 675 | (400) |
Charge-offs | (118) | (109) |
Recoveries | 28 | 56 |
Ending balance | 5,156 | 4,571 |
Ending balance individually evaluated for impairment | 136 | 196 |
Ending balance collectively evaluated for impairment | 5,020 | 4,375 |
Loans: | ||
Ending balance | 406,667 | 393,268 |
Ending balance individually evaluated for impairment | 2,678 | 679 |
Ending balance collectively evaluated for impairment | 403,989 | 392,589 |
Multifamily [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 839 | 619 |
Provision | 172 | 220 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Ending balance | 1,011 | 839 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 1,011 | 839 |
Loans: | ||
Ending balance | 91,992 | 109,410 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 91,992 | 109,410 |
Commercial Real Estate [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 9,541 | 9,986 |
Provision | (414) | (399) |
Charge-offs | 0 | (100) |
Recoveries | 140 | 54 |
Ending balance | 9,267 | 9,541 |
Ending balance individually evaluated for impairment | 291 | 120 |
Ending balance collectively evaluated for impairment | 8,976 | 9,421 |
Loans: | ||
Ending balance | 661,223 | 689,695 |
Ending balance individually evaluated for impairment | 3,046 | 4,689 |
Ending balance collectively evaluated for impairment | 658,177 | 685,006 |
Construction [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 5,387 | 5,136 |
Provision | 586 | 283 |
Charge-offs | 0 | (66) |
Recoveries | 121 | 34 |
Ending balance | 6,094 | 5,387 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 6,094 | 5,387 |
Loans: | ||
Ending balance | 392,039 | 297,315 |
Ending balance individually evaluated for impairment | 1,182 | 1,618 |
Ending balance collectively evaluated for impairment | 390,857 | 295,697 |
Farmland [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 658 | 654 |
Provision | (168) | 2 |
Charge-offs | (3) | 0 |
Recoveries | 0 | 2 |
Ending balance | 487 | 658 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 487 | 658 |
Loans: | ||
Ending balance | 34,212 | 46,314 |
Ending balance individually evaluated for impairment | 0 | 103 |
Ending balance collectively evaluated for impairment | 34,212 | 46,211 |
Second mortgages [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 112 | 106 |
Provision | (10) | 2 |
Charge-offs | (11) | 0 |
Recoveries | 3 | 4 |
Ending balance | 94 | 112 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 94 | 112 |
Loans: | ||
Ending balance | 8,952 | 9,193 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 8,952 | 9,193 |
Equity Lines of Credit [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 675 | 594 |
Provision | 45 | 66 |
Charge-offs | 0 | 0 |
Recoveries | 3 | 15 |
Ending balance | 723 | 675 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 723 | 675 |
Loans: | ||
Ending balance | 60,650 | 56,038 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 60,650 | 56,038 |
Commercial [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 386 | 301 |
Provision | 9 | 81 |
Charge-offs | 0 | (11) |
Recoveries | 6 | 15 |
Ending balance | 401 | 386 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 401 | 386 |
Loans: | ||
Ending balance | 47,939 | 40,301 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 47,939 | 40,301 |
Agricultural, Installment and Other [Member] | ||
Allowance for loan losses: | ||
Beginning balance | 562 | 480 |
Provision | 786 | 524 |
Charge-offs | (1,090) | (674) |
Recoveries | 418 | 232 |
Ending balance | 676 | 562 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | 676 | 562 |
Loans: | ||
Ending balance | 54,867 | 54,891 |
Ending balance individually evaluated for impairment | 0 | 0 |
Ending balance collectively evaluated for impairment | $ 54,867 | $ 54,891 |
Loans and Allowance for Loan 59
Loans and Allowance for Loan Losses - Summary of Carrying Balances of TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Total TDRS | $ 4,084 | $ 4,596 |
Performing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRS | 2,250 | 3,277 |
Nonperforming [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total TDRS | $ 1,834 | $ 1,319 |
Loans and Allowance for Loan 60
Loans and Allowance for Loan Losses - Troubled Debt Restructuring Categorized by Loan (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)contract | Dec. 31, 2016USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 8 | 9 |
Pre Modification Outstanding Recorded Investment | $ 699 | $ 1,614 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 624 | $ 1,494 |
Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 6 | 4 |
Pre Modification Outstanding Recorded Investment | $ 610 | $ 130 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 535 | $ 130 |
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 | $ 1,364 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 0 | $ 1,244 |
Construction [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 |
Farmland [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | 1 |
Pre Modification Outstanding Recorded Investment | $ 86 | $ 103 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 86 | $ 103 |
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 |
Commercial [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 |
Agricultural, Installment and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | 2 |
Pre Modification Outstanding Recorded Investment | $ 3 | $ 17 |
Post Modification Outstanding Recorded Investment, Net of Related Allowance | $ 3 | $ 17 |
Debt and Equity Securities - Su
Debt and Equity Securities - Summary of Debt and Equity Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Summary Of Debt And Equity Securities [Line Items] | ||
Securities Held-To-Maturity, Amortized Cost | $ 32,480 | $ 36,624 |
Securities Held-To-Maturity, Gross Unrealized Gains | 97 | 190 |
Securities Held-To-Maturity, Gross Unrealized Losses | 466 | 669 |
Securities Held-To-Maturity, Estimated Market Value | 32,111 | 36,145 |
Securities Available-For-Sale, Amortized Cost | 338,449 | 319,201 |
Securities Available-For-Sale, Gross Unrealized Gains | 313 | 557 |
Securities Available-For-Sale, Gross Unrealized Losses | 6,046 | 7,173 |
Total investment securities available-for-sale | 332,716 | 312,585 |
US Government-Sponsored Enterprises (GSEs) [Member] | ||
Summary Of Debt And Equity Securities [Line Items] | ||
Securities Available-For-Sale, Amortized Cost | 74,690 | 61,879 |
Securities Available-For-Sale, Gross Unrealized Gains | 4 | 0 |
Securities Available-For-Sale, Gross Unrealized Losses | 1,714 | 2,391 |
Total investment securities available-for-sale | 72,980 | 59,488 |
Government-Sponsored Enterprises (GSEs) residential [Member] | ||
Summary Of Debt And Equity Securities [Line Items] | ||
Securities Held-To-Maturity, Amortized Cost | 9,886 | 11,856 |
Securities Held-To-Maturity, Gross Unrealized Gains | 31 | 48 |
Securities Held-To-Maturity, Gross Unrealized Losses | 156 | 230 |
Securities Held-To-Maturity, Estimated Market Value | 9,761 | 11,674 |
Securities Available-For-Sale, Amortized Cost | 200,175 | 166,316 |
Securities Available-For-Sale, Gross Unrealized Gains | 302 | 496 |
Securities Available-For-Sale, Gross Unrealized Losses | 2,551 | 2,447 |
Total investment securities available-for-sale | 197,926 | 164,365 |
SBAP [Member] | ||
Summary Of Debt And Equity Securities [Line Items] | ||
Securities Available-For-Sale, Amortized Cost | 26,387 | 37,577 |
Securities Available-For-Sale, Gross Unrealized Gains | 0 | 9 |
Securities Available-For-Sale, Gross Unrealized Losses | 789 | 729 |
Total investment securities available-for-sale | 25,598 | 36,857 |
Obligations of States and Political Subdivisions [Member] | ||
Summary Of Debt And Equity Securities [Line Items] | ||
Securities Held-To-Maturity, Amortized Cost | 22,594 | 24,768 |
Securities Held-To-Maturity, Gross Unrealized Gains | 66 | 142 |
Securities Held-To-Maturity, Gross Unrealized Losses | 310 | 439 |
Securities Held-To-Maturity, Estimated Market Value | 22,350 | 24,471 |
Securities Available-For-Sale, Amortized Cost | 37,197 | 53,429 |
Securities Available-For-Sale, Gross Unrealized Gains | 7 | 52 |
Securities Available-For-Sale, Gross Unrealized Losses | 992 | 1,606 |
Total investment securities available-for-sale | $ 36,212 | $ 51,875 |
Debt and Equity Securities - Ad
Debt and Equity Securities - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Collateralized mortgage obligations | $ 17,361 | $ 16,015 |
Collateralized mortgage obligations, fair value | 17,133 | 15,814 |
Securities pledged to secure public deposits | 213,154 | 196,397 |
Market value of securities pledged to secure public deposits | 209,575 | 192,484 |
Securities adjust prior to maturity | 53,248 | 50,991 |
Market value of securities that have rates that adjust prior to maturity | 53,040 | 51,132 |
Tennessee | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in obligations of political subdivisions | 23,670 | 27,412 |
Market value of securities in obligations of political subdivisions | 23,404 | 27,088 |
Texas | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities in obligations of political subdivisions | 9,464 | 10,840 |
Market value of securities in obligations of political subdivisions | $ 9,121 | $ 10,269 |
Debt and Equity Securities - Ma
Debt and Equity Securities - Maturity of Amortized Cost and Estimated Market Value of Debt Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Securities Held-to-maturity, Due in one year or less, Amortized Cost | $ 3,594 | |
Securities Held-to-maturity, Due after one year through five years, Amortized Cost | 7,218 | |
Securities Held-to-maturity, Due after five years through ten years, Amortized Cost | 8,809 | |
Securities Held-to-maturity, Due after ten years, Amortized Cost | 2,973 | |
Securities Held-to-maturity, Gross Amortized Cost | 22,594 | |
Securities Held-to-maturity, Mortgage-backed securities, Amortized Cost | 9,886 | |
Securities Held-to-maturity, Amortized Cost | 32,480 | $ 36,624 |
Securities Held-to-maturity, Due in one year or less, Estimated Market Value | 3,591 | |
Securities Held-to-maturity, Due after one year through five years, Estimated Market Value | 7,229 | |
Securities Held-to-maturity, Due after five years through ten years, Estimated Market Value | 8,652 | |
Securities Held-to-maturity, Due after ten years, Estimated Market Value | 2,878 | |
Securities Held-to-maturity, Gross Estimated Market Value | 22,350 | |
Securities Held-to-maturity, Mortgage-backed securities, Estimated Market Value | 9,761 | |
Securities Held-to-maturity, Estimated Market Value | 32,111 | 36,145 |
Securities Available-For-Sale, Due in one year or less, Amortized Cost | 100 | |
Securities Available-For-Sale, Due after one year through five years, Amortized Cost | 16,770 | |
Securities Available-For-Sale, Due after five years through ten years, Amortized Cost | 68,004 | |
Securities Available-For-Sale, Due after ten years, Amortized Cost | 27,013 | |
Securities Available-For-Sale, Gross Amortized Cost | 111,887 | |
Securities Available-For-Sale, Mortgage-backed securities, Amortized Cost | 226,562 | |
Securities Available-For-Sale, Amortized Cost | 338,449 | 319,201 |
Securities Available-For-Sale, Due in one year or less, Estimated Market Value | 100 | |
Securities Available-For-Sale, Due after one year through five years, Estimated Market Value | 16,495 | |
Securities Available-For-Sale, Due after five years through ten years, Estimated Market Value | 66,277 | |
Securities Available-For-Sale, Due after ten years, Estimated Market Value | 26,320 | |
Securities Available-For-Sale, Gross Estimated Market Value | 109,192 | |
Securities Available-For-Sale, Mortgage-backed securities, Estimated Market Value | 223,524 | |
Securities Available-For-Sale, Estimated Market Value | $ 332,716 | $ 312,585 |
Debt and Equity Securities - Sa
Debt and Equity Securities - Sales of Debt and Equity Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross proceeds | $ 35,555 | $ 90,007 | $ 42,845 |
Gross realized gains | 76 | 716 | 261 |
Gross realized losses | (251) | (256) | (76) |
Net realized gains (losses) | $ (175) | $ 460 | $ 185 |
Debt and Equity Securities - Gr
Debt and Equity Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Detail) $ in Thousands | Dec. 31, 2017USD ($)security | Dec. 31, 2016USD ($)security |
Held To Maturity Debt Securities [Line Items] | ||
Held to Maturity Securities, Fair Value, Less than 12 Month | $ 13,453 | $ 24,258 |
Held to Maturity Securities, Unrealized losses, Less than 12 Month | $ 67 | $ 590 |
Held to Maturity Securities, Number of securities included, Less than 12 Month | security | 31,000 | 48,000 |
Held to Maturity Securities, Fair Value, 12 Month or More | $ 12,484 | $ 1,704 |
Held to Maturity Securities, Unrealized losses, 12 Month or More | $ 399 | $ 79 |
Held to Maturity Securities, Number of securities included, 12 Month or More | security | 23 | 1 |
Held to Maturity Securities, Total Fair Value | $ 25,937 | $ 25,962 |
Securities Held to Maturity, Total Unrealized Losses | 466 | 669 |
Available-for-Sale Securities, Fair Value, Less than 12 Month | 129,494 | 259,879 |
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month | $ 1,253 | $ 7,076 |
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | security | 80 | 220 |
Available-for-Sale Securities, Fair Value, 12 Month or More | $ 175,432 | $ 6,918 |
Available-for-Sale Securities, Unrealized Loss, 12 Month or More | $ 4,793 | $ 97 |
Available-for-Sale Securities, Number of securities included, 12 Month or More | security | 139 | 9 |
Available-for-Sale Securities, Total Fair Value | $ 304,926 | $ 266,797 |
Available-for-Sale Securities, Total Unrealized Losses | 6,046 | 7,173 |
US Government-Sponsored Enterprises (GSEs) [Member] | ||
Held To Maturity Debt Securities [Line Items] | ||
Available-for-Sale Securities, Fair Value, Less than 12 Month | 16,099 | 59,488 |
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month | $ 190 | $ 2,391 |
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | security | 8 | 23 |
Available-for-Sale Securities, Fair Value, 12 Month or More | $ 55,726 | $ 0 |
Available-for-Sale Securities, Unrealized Loss, 12 Month or More | $ 1,524 | $ 0 |
Available-for-Sale Securities, Number of securities included, 12 Month or More | security | 21 | 0 |
Available-for-Sale Securities, Total Fair Value | $ 71,825 | $ 59,488 |
Available-for-Sale Securities, Total Unrealized Losses | 1,714 | 2,391 |
GSE Residential [Member] | ||
Held To Maturity Debt Securities [Line Items] | ||
Held to Maturity Securities, Fair Value, Less than 12 Month | 3,316 | 8,177 |
Held to Maturity Securities, Unrealized losses, Less than 12 Month | $ 21 | $ 151 |
Held to Maturity Securities, Number of securities included, Less than 12 Month | security | 4,000 | 7,000 |
Held to Maturity Securities, Fair Value, 12 Month or More | $ 5,206 | $ 1,704 |
Held to Maturity Securities, Unrealized losses, 12 Month or More | $ 135 | $ 79 |
Held to Maturity Securities, Number of securities included, 12 Month or More | security | 5 | 1 |
Held to Maturity Securities, Total Fair Value | $ 8,522 | $ 9,881 |
Securities Held to Maturity, Total Unrealized Losses | 156 | 230 |
Available-for-Sale Securities, Fair Value, Less than 12 Month | 92,180 | 124,011 |
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month | $ 769 | $ 2,350 |
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | security | 43 | 64 |
Available-for-Sale Securities, Fair Value, 12 Month or More | $ 81,434 | $ 6,918 |
Available-for-Sale Securities, Unrealized Loss, 12 Month or More | $ 1,782 | $ 97 |
Available-for-Sale Securities, Number of securities included, 12 Month or More | security | 54 | 9 |
Available-for-Sale Securities, Total Fair Value | $ 173,614 | $ 130,929 |
Available-for-Sale Securities, Total Unrealized Losses | 2,551 | 2,447 |
SBAP [Member] | ||
Held To Maturity Debt Securities [Line Items] | ||
Available-for-Sale Securities, Fair Value, Less than 12 Month | 9,087 | 33,579 |
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month | $ 181 | $ 729 |
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | security | 7 | 17 |
Available-for-Sale Securities, Fair Value, 12 Month or More | $ 16,510 | $ 0 |
Available-for-Sale Securities, Unrealized Loss, 12 Month or More | $ 608 | $ 0 |
Available-for-Sale Securities, Number of securities included, 12 Month or More | security | 8 | 0 |
Available-for-Sale Securities, Total Fair Value | $ 25,597 | $ 33,579 |
Available-for-Sale Securities, Total Unrealized Losses | 789 | 729 |
Obligations of States and Political Subdivisions [Member] | ||
Held To Maturity Debt Securities [Line Items] | ||
Held to Maturity Securities, Fair Value, Less than 12 Month | 10,137 | 16,081 |
Held to Maturity Securities, Unrealized losses, Less than 12 Month | $ 46 | $ 439 |
Held to Maturity Securities, Number of securities included, Less than 12 Month | security | 27,000 | 41,000 |
Held to Maturity Securities, Fair Value, 12 Month or More | $ 7,278 | $ 0 |
Held to Maturity Securities, Unrealized losses, 12 Month or More | $ 264 | $ 0 |
Held to Maturity Securities, Number of securities included, 12 Month or More | security | 18 | 0 |
Held to Maturity Securities, Total Fair Value | $ 17,415 | $ 16,081 |
Securities Held to Maturity, Total Unrealized Losses | 310 | 439 |
Available-for-Sale Securities, Fair Value, Less than 12 Month | 12,128 | 42,801 |
Available-for-Sale Securities, Unrealized Losses, Less than 12 Month | $ 113 | $ 1,606 |
Available-for-Sale Securities, Number of Securities Included, Less than 12 Month | security | 22 | 116 |
Available-for-Sale Securities, Fair Value, 12 Month or More | $ 21,762 | $ 0 |
Available-for-Sale Securities, Unrealized Loss, 12 Month or More | $ 879 | $ 0 |
Available-for-Sale Securities, Number of securities included, 12 Month or More | security | 56 | 0 |
Available-for-Sale Securities, Total Fair Value | $ 33,890 | $ 42,801 |
Available-for-Sale Securities, Total Unrealized Losses | $ 992 | $ 1,606 |
Restricted Equity Securities -
Restricted Equity Securities - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
FHLB [Member] | ||
Marketable Securities [Line Items] | ||
Restricted equity securities consists of stock of the Federal Home Loan Bank of Cincinnati | $ 3,012 | $ 3,012 |
Premises and Equipment - Detail
Premises and Equipment - Detail of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 72,902 | $ 60,242 |
Less accumulated depreciation | (18,687) | (15,828) |
Premises and equipment, net | 54,215 | 44,414 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 17,022 | 17,022 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 31,686 | 29,937 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 425 | 368 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 12,521 | 9,760 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 353 | 304 |
Construction-In-Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 10,895 | $ 2,851 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |||
Construction of buildings and minor repair work | $ 5,934 | $ 1,361 | $ 1,222 |
Depreciation expense | $ 2,859 | $ 2,760 | $ 2,582 |
Acquired Intangible Assets an69
Acquired Intangible Assets and Goodwill - Additional Information (Detail) - subsidiary | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2005 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Number of subsidiaries acquired | 2 | |
Intangible assets percentage of owned subsidiaries | 50.00% | |
Ownership interests acquired (as a percent) | 100.00% |
Acquired Intangible Assets an70
Acquired Intangible Assets and Goodwill - Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
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 |
Deposits - Deposits (Detail)
Deposits - Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Banking and Thrift [Abstract] | ||
Demand deposits | $ 239,559 | $ 226,971 |
Savings accounts | 136,549 | 123,749 |
Negotiable order of withdrawal accounts | 495,930 | 454,487 |
Money market demand accounts | 648,606 | 628,321 |
Certificates of deposit $250,000 or greater | 67,614 | 64,938 |
Other certificates of deposit | 370,608 | 360,871 |
Individual retirement accounts $250,000 or greater | 6,954 | 8,417 |
Other individual retirement accounts | 71,925 | 74,381 |
Deposits | $ 2,037,745 | $ 1,942,135 |
Deposits - Principal Maturities
Deposits - Principal Maturities of Certificate of Deposit and Individual Retirement Accounts (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Banking and Thrift [Abstract] | |
2,018 | $ 255,732 |
2,019 | 102,230 |
2,020 | 76,186 |
2,021 | 47,816 |
2,022 | 21,769 |
Thereafter | 13,368 |
Time Deposits, Total | $ 517,101 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Banking and Thrift [Abstract] | ||
Overdrafts reclassified as loans receivable | $ 531,000 | $ 481,000 |
Average required cash balance | $ 0 | $ 0 |
Securities Sold Under Repurch74
Securities Sold Under Repurchase Agreements - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Banking and Thrift [Abstract] | ||
Securities sold under repurchase agreements | $ 864 | $ 736 |
Maximum amounts of outstanding repurchase agreements | 1,843 | 2,070 |
Average daily balance outstanding | $ 1,382 | $ 1,214 |
Weighted average interest rate on outstanding balance (as a percent) | 1.47% | 0.25% |
Non-Interest Income and Non-I75
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Non-interest income: | |||
Service charges on deposits | $ 6,124 | $ 5,769 | $ 5,148 |
Other fees and commissions | 11,752 | 10,260 | 9,321 |
BOLI and annuity earnings | 871 | 832 | 877 |
Security gains (losses), net | (175) | 460 | 185 |
Fees and gains on sales of mortgage loans | 4,258 | 4,355 | 4,048 |
Gain on sale of other real estate, net | 6 | 52 | 362 |
Non-interest income | 22,836 | 21,728 | 19,941 |
Non-interest expense: | |||
Employee salaries and benefits | 35,830 | 34,106 | 31,556 |
Equity based compensation | 692 | 104 | 38 |
Occupancy expenses | 3,718 | 3,638 | 3,444 |
Furniture and equipment expenses | 2,085 | 2,019 | 2,063 |
Loss on the sales of premises and equipment, net | 0 | 73 | 53 |
Loss on sales of other assets, net | 15 | 1 | 2 |
Data processing expenses | 2,834 | 2,576 | 2,476 |
FDIC insurance | 683 | 968 | 953 |
Directors’ fees | 677 | 691 | 735 |
Other operating expenses | 13,872 | 13,161 | 10,839 |
Non-interest expense | $ 60,406 | $ 57,337 | $ 52,159 |
Income Taxes - Components of th
Income Taxes - Components of the Net Deferred Tax Asset (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | ||
Deferred tax asset | $ 9,290 | $ 13,179 |
Deferred tax liability | (1,866) | (2,421) |
Net deferred tax asset | 7,424 | 10,758 |
Federal [Member] | ||
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | ||
Deferred tax asset | 7,222 | 11,316 |
Deferred tax liability | (1,402) | (2,010) |
State [Member] | ||
Schedule Of Deferred Tax Assets And Liabilities [Line Items] | ||
Deferred tax asset | 2,068 | 1,863 |
Deferred tax liability | $ (464) | $ (411) |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets (Liabilities) in Which Tax Effects of Significant Item that Gave Rise (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Tax Disclosure [Abstract] | ||
Financial statement allowance for loan losses in excess of tax allowance | $ 5,925 | $ 8,252 |
Excess of depreciation deducted for tax purposes over the amounts deducted in the financial statements | (1,539) | (1,941) |
Financial statement deduction for deferred compensation in excess of deduction for tax purposes | 1,075 | 1,423 |
Writedown of other real estate not deductible for income tax purposes until sold | 161 | 287 |
Financial statement income on FHLB stock dividends not recognized for tax purposes | (327) | (480) |
Unrealized loss on securities available-for-sale | 1,498 | 2,533 |
Equity based compensation | 178 | 0 |
Other items, net | 453 | 684 |
Net deferred tax asset | $ 7,424 | $ 10,758 |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $ 14,004 | $ 12,910 | $ 10,871 |
Current, State | 2,354 | 2,095 | 1,653 |
Current, Total | 16,358 | 15,005 | 12,524 |
Deferred, Federal | 3,205 | (136) | 1,028 |
Deferred, State | (209) | (28) | 210 |
Deferred, Total | 2,996 | (164) | 1,238 |
Federal | 17,209 | 12,774 | 11,899 |
State | 2,145 | 2,067 | 1,863 |
Total | $ 19,354 | $ 14,841 | $ 13,762 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Revaluation of deferred tax assets due to change in tax rates | $ 3,603,000 | $ 3,603,000 | $ 0 | $ 0 |
Revaluation of deferred tax assets due to change in tax rates | 697,000 | (697,000) | 0 | 0 |
Federal income tax benefits | $ 19,354,000 | 14,841,000 | 13,762,000 | |
Statutory income tax rate (as a percent) | 34.00% | |||
Income tax expense related to the realized gain and loss, respectively, on sale of securities | $ (67,000) | 176,000 | 71,000 | |
Accrued or recognized interest or penalties related to uncertain tax positions | 0 | 0 | $ 0 | $ 0 |
Unrecognized tax benefits | 0 | $ 0 | ||
Period for change of unrecognized tax benefits | 12 months | |||
Deferred tax asset that we did not prevail on all uncertain tax position | $ 9,300,000 | $ 9,300,000 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Actual Income Tax Expense to the Expected Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Computed “expected” tax expense | $ 14,579 | $ 13,761 | $ 12,793 |
State income taxes, net of Federal income tax benefit | 1,346 | 1,364 | 1,243 |
Tax exempt interest, net of interest expense exclusion | (415) | (401) | (266) |
Federal income tax rate in excess of statutory rate related to taxable income over $10 million | 399 | 370 | 312 |
Earnings on cash surrender value of life insurance | (292) | (283) | (298) |
Expenses not deductible for tax purposes | 43 | 40 | 35 |
Equity based compensation expense | 16 | 35 | 13 |
Revaluation of federal deferred tax assets due to change in tax rates | 3,603 | 0 | 0 |
Other | 75 | (45) | (70) |
Total | $ 19,354 | $ 14,841 | $ 13,762 |
Income Taxes - Reconciliation81
Income Taxes - Reconciliation of Actual Income Tax Expense to the Expected Tax Expense - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Income Tax Disclosure [Abstract] | |
Taxable income for which federal income tax rate in excess of statutory rate | $ 10,000,000 |
Commitments and Contingent Li82
Commitments and Contingent Liabilities - Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands | Dec. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,018 | $ 276 |
2,019 | 276 |
2,020 | 275 |
2,021 | 232 |
2,022 | $ 75 |
Commitments and Contingent Li83
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Rent expense | $ 215,000 | $ 204,000 | $ 192,000 |
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 | $ 25,000,000 | ||
Borrowings under variable rate, period up to | 90 days | ||
Borrowings under fixed rate, period up to | 30 days | ||
Borrowings under CMA | $ 0 | $ 0 |
Financial Instruments with Of84
Financial Instruments with Off-Balance-Sheet Risk - Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Financial instruments whose contract amounts represent credit risk | ||
Financial instruments whose contract amounts represent credit risk | $ 674,270 | $ 534,478 |
Unused Commitments to Extend Credit [Member] | ||
Financial instruments whose contract amounts represent credit risk | ||
Financial instruments whose contract amounts represent credit risk | 605,114 | 483,818 |
Standby Letters of Credit [Member] | ||
Financial instruments whose contract amounts represent credit risk | ||
Financial instruments whose contract amounts represent credit risk | 69,156 | $ 50,660 |
Maximum potential amount of future payments that the Company guarantee | $ 69,200 |
Concentration of Credit Risk -
Concentration of Credit Risk - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017USD ($)Bank | |
Risks and Uncertainties [Abstract] | |
Company's cash and due from banks and federal funds sold total | $ 29,911,000 |
FDIC limit of per depositor | 250,000 |
Interest-bearing deposits in banks | $ 44,465,000 |
Interest bearing deposits deposited with banks, number or banks | Bank | 4 |
Employee Benefit Plan - Additio
Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retirement Benefits [Abstract] | |||
Minimum age limit of employee to be eligible for the plan | 20 years 6 months | ||
Employers contribution | $ 2,145 | $ 2,006 | $ 1,840 |
Dividend Reinvestment Plan - Ad
Dividend Reinvestment Plan - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |||
Original issue shares under the terms of the dividend reinvestment plan (DRIP) | 125,960 | 98,318 | 72,543 |
Regulatory Matters and Restri88
Regulatory Matters and Restrictions on Dividends - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
New capital requirement effective date | 2,015 |
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 | 2,016 |
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 |
Regulatory Matters and Restri89
Regulatory Matters and Restrictions on Dividends - Summary of Company's and Wilson Banks Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total capital to risk weighted assets: | ||
Total capital to risk weighted assets actual amount | $ 291,395 | $ 266,954 |
Total capital to risk weighted assets actual ratio (as a percent) | 14.20% | 12.70% |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 189,658 | $ 181,298 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 9.25% | 8.625% |
Total capital to risk weighted assets regulatory minimum to be well capitalized amount | $ 205,036 | $ 210,200 |
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 | $ 267,159 | $ 243,897 |
Tier 1 capital to risk weighted assets actual ratio (as a percent) | 13.00% | 11.60% |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 148,651 | $ 139,295 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 7.25% | 6.625% |
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount | $ 123,021 | $ 126,154 |
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent) | 6.00% | 6.00% |
Common equity Tier 1 capital to risk weighted assets: | ||
Common equity Tier 1 capital to risk weighted assets actual amount | $ 267,159 | $ 243,897 |
Common equity Tier 1 capital to risk weighted assets actual ratio (as a percent) | 13.00% | 11.60% |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 117,895 | $ 107,756 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 5.75% | 5.125% |
Tier 1 capital to average assets: | ||
Tier 1 capital to average assets actual amount | $ 267,159 | $ 243,897 |
Tier 1 capital to average assets actual ratio (as a percent) | 11.90% | 11.20% |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 90,110 | $ 87,106 |
Tier 1 capital to average assets regulatory minimum capital requirement ratio (as a percent) | 4.00% | 4.00% |
Wilson Bank Holding Company [Member] | ||
Total capital to risk weighted assets: | ||
Total capital to risk weighted assets actual amount | $ 289,824 | $ 265,142 |
Total capital to risk weighted assets actual ratio (as a percent) | 14.10% | 12.60% |
Total capital to risk weighted assets regulatory minimum capital requirement amount | $ 189,618 | $ 181,496 |
Total capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 9.25% | 8.625% |
Total capital to risk weighted assets regulatory minimum to be well capitalized amount | $ 204,992 | $ 210,430 |
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 | $ 265,588 | $ 242,085 |
Tier 1 capital to risk weighted assets actual ratio (as a percent) | 13.00% | 11.50% |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 148,619 | $ 139,462 |
Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 7.25% | 6.625% |
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount | $ 163,994 | $ 168,407 |
Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent) | 8.00% | 8.00% |
Common equity Tier 1 capital to risk weighted assets: | ||
Common equity Tier 1 capital to risk weighted assets actual amount | $ 265,588 | $ 242,085 |
Common equity Tier 1 capital to risk weighted assets actual ratio (as a percent) | 13.00% | 11.50% |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement amount | $ 117,871 | $ 107,886 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum capital requirement ratio (as a percent) | 5.75% | 5.125% |
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized amount | $ 133,245 | $ 136,831 |
Common equity Tier 1 capital to risk weighted assets regulatory minimum to be well capitalized ratio (as a percent) | 6.50% | 6.50% |
Tier 1 capital to average assets: | ||
Tier 1 capital to average assets actual amount | $ 265,588 | $ 242,085 |
Tier 1 capital to average assets actual ratio (as a percent) | 11.50% | 11.10% |
Tier 1 capital to average assets regulatory minimum capital requirement amount | $ 92,062 | $ 87,238 |
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 | $ 115,078 | $ 109,047 |
Tier 1 capital to average assets regulatory minimum to be well capitalized ratio (as a percent) | 5.00% | 5.00% |
Regulatory Matters and Restri90
Regulatory Matters and Restrictions on Dividends - Summary of Basel III Minimum Requirements After Giving Effect to the Buffer (Detail) | Dec. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier 1 Ratio (as a percent) | 5.75% | 5.125% |
Tier 1 Capital to Risk Weighted Assets Ratio (as a percent) | 7.25% | 6.625% |
Total Capital to Risk Weighted Assets Ratio (as a percent) | 9.25% | 8.625% |
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% |
Salary Deferral Plans - Additio
Salary Deferral Plans - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Executive Salary Continuation Plan [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Salary deferral compensation liability total | $ 1,861 | $ 1,869 |
Cash surrender value of life insurance, carrying value | 3,791 | 3,688 |
Face amount of the insurance policies in force | 11,176 | 11,148 |
Supplemental Employee Retirement Plan Agreement [Member] | ||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ||
Salary deferral compensation liability total | 2,250 | 1,846 |
Cash surrender value of life insurance, carrying value | 25,684 | 24,928 |
Face amount of the insurance policies in force | 61,239 | 61,287 |
Flexible Indexed Annuity Contracts | $ 10,816 | $ 10,804 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Apr. 14, 2009 | Apr. 13, 2009 | Apr. 30, 1999 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2016 |
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) | $ 12.59 | $ 11.29 | $ 12.72 | ||||
The total intrinsic value of options exercised | $ 62 | $ 65 | $ 129 | ||||
Total unrecognized cost related to non-vested share-based compensation arrangements granted under the Company's stock option plans | $ 2,705 | ||||||
Weighted-average period for recognition of unrecognized costs | 3 years 11 months 23 days | ||||||
1999 Stock Option Plan [Member] | |||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||||||
Number of shares authorized | 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] | |||||||
Number of shares authorized | 100,000 | ||||||
Stock Option Plan effective date | Apr. 14, 2009 | ||||||
Shares remaining available for issuance | 50,722 | ||||||
2016 Equity Incentive Plan [Member] | |||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||||||
Number of shares authorized | 750,000 | ||||||
Shares remaining available for issuance | 501,670 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Weighted-Average Black-Scholes Fair Value Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Expected dividends (as percent) | 1.27% | 1.21% | 1.00% |
Expected term | 7 years 9 months 15 days | 8 years 8 months 16 days | 8 years 11 months 14 days |
Expected volatility (as percent) | 26.00% | 26.00% | 22.00% |
Risk-free rate (as percent) | 2.23% | 2.02% | 2.02% |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Stock Option Activity (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Shares | |||
Exercised (in shares) | (5,078) | (5,120) | (7,633) |
Stock Options and Stock Appreciation Rights [Member] | |||
Shares | |||
Option outstanding at beginning of year (in shares) | 183,747 | 49,895 | 58,092 |
Granted (in shares) | 112,333 | 140,997 | 4,333 |
Exercised (in shares) | (5,078) | (5,545) | (10,177) |
Forfeited or expired (in shares) | (5,222) | (1,600) | (2,353) |
Option outstanding at end of year (in shares) | 285,780 | 183,747 | 49,895 |
Options exercisable at year end (in shares) | 42,256 | 13,553 | 13,085 |
Weighted Average Exercise Price | |||
Outstanding weighted-average exercise price at beginning of year (in dollars per share) | $ 38.09 | $ 30.19 | $ 28.52 |
Granted weighted-average exercise price (in dollars per shares) | 40.87 | 40.36 | 36.23 |
Exercised weighted-average exercise price (in dollars per shares) | 29.65 | 27.38 | 23.69 |
Forfeited or expired weighted-average exercise price (in dollars per shares) | 39.22 | 28.44 | 28.22 |
Outstanding weighted-average exercise price at end of year (in dollars per shares) | 39.31 | 38.09 | 30.19 |
Options exercisable weighted-average exercise price at year end (in dollars per shares) | $ 36.66 | $ 29.29 | $ 28.55 |
Equity Incentive Plan - Summa95
Equity Incentive Plan - Summary of Information about Stock Options (Detail) - Stock Options and Stock Appreciation Rights [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Number of outstanding (in shares) | 285,780 |
Options Outstanding, Aggregate intrinsic value | $ | $ 1,553 |
Options Exercisable, Number exercisable (in shares) | 42,256 |
Options Exercisable, Aggregate intrinsic value | $ | $ 342 |
22.22 to 33.56 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Number of outstanding (in shares) | 28,751 |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 29.55 |
Options Outstanding, Weighted average remaining contractual term | 2 years 9 months 29 days |
Options Exercisable, Number exercisable (in shares) | 12,956 |
Options Exercisable, Weighted average exercise price (in dollars per share) | $ / shares | $ 29.01 |
Options Exercisable, Weighted average remaining contractual term | 2 years 5 months 1 day |
33.57 to 42.75 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options Outstanding, Number of outstanding (in shares) | 257,029 |
Options Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 40.40 |
Options Outstanding, Weighted average remaining contractual term | 8 years 9 months 29 days |
Options Exercisable, Number exercisable (in shares) | 29,300 |
Options Exercisable, Weighted average exercise price (in dollars per share) | $ / shares | $ 40.05 |
Options Exercisable, Weighted average remaining contractual term | 8 years 8 months 1 day |
Equity Incentive Plan - Summa96
Equity Incentive Plan - Summary of Information about Stock Options - Additional Information (Detail) - Stock Options and Stock Appreciation Rights [Member] | 12 Months Ended |
Dec. 31, 2017$ / shares | |
22.22 to 33.56 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower limit (in dollars per share) | $ 22.22 |
Exercise Price, Upper limit (in dollars per share) | 33.56 |
33.57 to 42.75 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Price, Lower limit (in dollars per share) | 33.57 |
Exercise Price, Upper limit (in dollars per share) | $ 42.75 |
Earnings Per Share - Summary of
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic EPS Computation: | |||||||||||||||
Numerator - Earnings available to common stockholders | $ 3,574 | $ 6,469 | $ 6,988 | $ 6,495 | $ 6,802 | $ 6,918 | $ 6,270 | $ 5,643 | $ 5,958 | $ 6,088 | $ 6,201 | $ 5,616 | $ 23,526 | $ 25,633 | $ 23,863 |
Denominator - Weighted average number of common shares outstanding | 10,407,211 | 10,279,332 | 10,165,477 | ||||||||||||
Basic earnings per common share (in dollars per share) | $ 0.34 | $ 0.62 | $ 0.67 | $ 0.63 | $ 0.66 | $ 0.67 | $ 0.61 | $ 0.55 | $ 0.59 | $ 0.60 | $ 0.61 | $ 0.55 | $ 2.26 | $ 2.49 | $ 2.35 |
Diluted EPS Computation: | |||||||||||||||
Numerator - Earnings available to common stockholders | $ 23,526 | $ 25,633 | $ 23,863 | ||||||||||||
Denominator - Weighted average number of common shares outstanding | 10,407,211 | 10,279,332 | 10,165,477 | ||||||||||||
Dilutive effect of stock options (in shares) | 5,325 | 4,996 | 4,703 | ||||||||||||
Weighted average number of shares outstanding-diluted | 10,412,536 | 10,284,328 | 10,170,180 | ||||||||||||
Diluted earnings per common share (in dollars per share) | $ 0.34 | $ 0.62 | $ 0.67 | $ 0.63 | $ 0.66 | $ 0.67 | $ 0.61 | $ 0.55 | $ 0.59 | $ 0.60 | $ 0.61 | $ 0.55 | $ 2.26 | $ 2.49 | $ 2.35 |
Disclosures About Fair Value 98
Disclosures About Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Total investment securities available-for-sale | $ 332,716 | $ 312,585 |
State and municipal securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Total investment securities available-for-sale | 36,212 | 51,875 |
Fair Value Measurements Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Total investment securities available-for-sale | 332,716 | 312,585 |
Mortgage loans held for sale | 5,106 | 14,788 |
Other assets | 29,475 | 28,616 |
Total | 367,297 | 355,989 |
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 | 197,926 | 164,365 |
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 | 25,598 | 36,857 |
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 | 36,212 | 51,875 |
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 |
Mortgage loans held for sale | 0 | 0 |
Other assets | 0 | 0 |
Total | 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 | 332,716 | 312,585 |
Mortgage loans held for sale | 5,106 | 14,788 |
Other assets | 0 | 0 |
Total | 337,822 | 327,373 |
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 | 197,926 | 164,365 |
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 | 25,598 | 36,857 |
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 | 36,212 | 51,875 |
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 |
Mortgage loans held for sale | 0 | 0 |
Other assets | 29,475 | 28,616 |
Total | 29,475 | 28,616 |
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 | 72,980 | 59,488 |
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 | 72,980 | 59,488 |
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 |
Disclosures About Fair Value 99
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, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Other real estate owned | $ 1,635 | $ 4,527 |
Impaired loans, net | 6,531 | 6,792 |
Total | 8,166 | 11,319 |
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 | 1,635 | 4,527 |
Impaired loans, net | 6,531 | 6,792 |
Total | $ 8,166 | $ 11,319 |
Disclosures About Fair Value100
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, 2017 | Dec. 31, 2016 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||
Valuation allowance | $ 427 | $ 316 |
Disclosures About Fair Value101
Disclosures About Fair Value of Financial Instruments - Quantitative Unobservable Inputs (Details) - Weighted Average [Member] - Appraisal [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Impaired Loans [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Estimated costs to sell | 10.00% |
Other Real Estate Owned [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Estimated costs to sell | 10.00% |
Disclosures About Fair Value102
Disclosures About Fair Value of Financial Instruments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2017TransferStation | |
Fair Value Disclosures [Abstract] | |
Transfers between levels one, two and three | 0 |
Disclosures About Fair Value103
Disclosures About Fair Value of Financial Instruments - Changes in Fair Value Due to Observable Factors (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Other Assets | ||
Fair value, January 1 | $ 28,616 | $ 17,733 |
Total realized gains included in income | 859 | 673 |
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 | 10,210 |
Transfers out of Level 3 | 0 | 0 |
Fair value, December 31 | 29,475 | 28,616 |
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 | 859 | 673 |
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 |
Disclosures About Fair Value104
Disclosures About Fair Value of Financial Instruments - Carrying Value and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities held-to-maturity, Carrying/Notional Amount | $ 32,480 | $ 36,624 |
Loans, net, Carrying/Notional Amount | 1,727,253 | 1,667,088 |
Deposits and securities sold under agreements to repurchase, Carrying/Notional Amount | 2,038,609 | 1,942,871 |
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 | 32,111 | 36,145 |
Loans, net, Estimated Fair Value | 1,724,937 | 1,673,568 |
Deposits and securities sold under agreements to repurchase, Estimated Fair Value | 1,812,011 | 1,631,032 |
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 | 32,111 | 36,145 |
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 | 1,724,937 | 1,673,568 |
Deposits and securities sold under agreements to repurchase, Estimated Fair Value | 1,812,011 | 1,631,032 |
Commitments to extend credit, Estimated Fair Value | 0 | 0 |
Standby letters of credit, Estimated Fair Value | $ 0 | $ 0 |
Wilson Bank Holding Company 105
Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets - Parent Company Only (Detail) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||||
Cash | $ 95,518 | $ 47,918 | $ 109,253 | $ 68,007 |
Deferred income taxes | 7,424 | 10,758 | ||
Total assets | 2,317,033 | 2,198,051 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
Total liabilities | 2,049,303 | 1,953,431 | ||
Stockholders’ equity: | ||||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 10,450,711 and 10,319,673 shares issued and outstanding, respectively | 20,901 | 20,639 | ||
Additional paid-in capital | 66,047 | 60,541 | ||
Retained earnings | 185,017 | 167,523 | ||
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively | (4,235) | (4,083) | ||
Total stockholders’ equity | 267,730 | 244,620 | 223,438 | 200,892 |
Total liabilities and stockholders’ equity | 2,317,033 | 2,198,051 | ||
Wilson Bank Holding Company [Member] | ||||
ASSETS | ||||
Cash | 1,589 | 1,678 | $ 1,685 | $ 1,120 |
Investment in wholly-owned commercial bank subsidiary | 266,159 | 242,808 | ||
Deferred income taxes | 178 | 0 | ||
Refundable income taxes | 181 | 169 | ||
Total assets | 268,107 | 244,655 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
Stock appreciation rights payable | 377 | 35 | ||
Total liabilities | 377 | 35 | ||
Stockholders’ equity: | ||||
Common stock, par value $2.00 per share, authorized 50,000,000 shares, 10,450,711 and 10,319,673 shares issued and outstanding, respectively | 20,901 | 20,639 | ||
Additional paid-in capital | 66,047 | 60,541 | ||
Retained earnings | 185,017 | 167,523 | ||
Net unrealized losses on available-for-sale securities, net of income taxes of $527 and $421, respectively | (4,235) | (4,083) | ||
Total stockholders’ equity | 267,730 | 244,620 | ||
Total liabilities and stockholders’ equity | $ 268,107 | $ 244,655 |
Wilson Bank Holding Company 106
Wilson Bank Holding Company - Parent Company Financial Information - Balance Sheets - Parent Company Only - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Parent Company Only Financial Information [Line Items] | ||
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 10,450,711 | 10,319,673 |
Common stock, shares outstanding | 10,450,711 | 10,319,673 |
Wilson Bank Holding Company [Member] | ||
Parent Company Only Financial Information [Line Items] | ||
Common stock, par value (in dollars per share) | $ 2 | $ 2 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 10,450,711 | 10,319,673 |
Common stock, shares outstanding | 10,450,711 | 10,319,673 |
Net unrealized losses on available-for-sale securities, income taxes | $ 1,498 | $ 2,533 |
Wilson Bank Holding Company 107
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Expenses: | |||||||||||||||
Directors’ fees | $ 677 | $ 691 | $ 735 | ||||||||||||
Earnings before income taxes | $ 10,694 | $ 10,438 | $ 11,386 | $ 10,362 | $ 10,120 | $ 11,095 | $ 10,162 | $ 9,097 | $ 8,720 | $ 9,862 | $ 9,889 | $ 9,154 | 42,880 | 40,474 | 37,625 |
Federal income tax benefits | (19,354) | (14,841) | (13,762) | ||||||||||||
Net earnings | $ 3,574 | $ 6,469 | $ 6,988 | $ 6,495 | $ 6,802 | $ 6,918 | $ 6,270 | $ 5,643 | $ 5,958 | $ 6,088 | $ 6,201 | $ 5,616 | 23,526 | 25,633 | 23,863 |
Wilson Bank Holding Company [Member] | |||||||||||||||
Expenses: | |||||||||||||||
Directors’ fees | 334 | 327 | 350 | ||||||||||||
Other | 805 | 194 | 152 | ||||||||||||
Earnings before income taxes | (1,139) | (521) | (502) | ||||||||||||
Federal income tax benefits | 359 | 169 | 198 | ||||||||||||
Non-interest expense | (780) | (352) | (304) | ||||||||||||
Equity in undistributed earnings of commercial bank subsidiary | 24,306 | 25,985 | 24,167 | ||||||||||||
Net earnings | $ 23,526 | $ 25,633 | $ 23,863 |
Wilson Bank Holding Company 108
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||||||||||||||
Cash paid to suppliers and other | $ (57,643) | $ (53,454) | $ (51,474) | ||||||||||||
Net cash provided by operating activities | 42,667 | 26,803 | 25,640 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||
Net cash used in investing activities | (89,494) | (237,836) | (111,389) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||
Dividends paid | (6,729) | (5,756) | (4,935) | ||||||||||||
Proceeds from sale of stock pursuant to dividend reinvestment | 5,266 | 4,316 | 3,511 | ||||||||||||
Proceeds from exercise of stock options | 152 | 152 | 241 | ||||||||||||
Net cash provided by financing activities | 94,427 | 149,698 | 126,995 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 47,600 | (61,335) | 41,246 | ||||||||||||
Cash and cash equivalents at beginning of year | $ 47,918 | $ 109,253 | $ 68,007 | 47,918 | 109,253 | 68,007 | |||||||||
Cash and cash equivalents at end of year | $ 95,518 | $ 47,918 | $ 109,253 | 95,518 | 47,918 | 109,253 | |||||||||
Reconciliation of net earnings to net cash used in operating activities: | |||||||||||||||
Net earnings | 3,574 | $ 6,469 | $ 6,988 | 6,495 | 6,802 | $ 6,918 | $ 6,270 | 5,643 | 5,958 | $ 6,088 | $ 6,201 | 5,616 | 23,526 | 25,633 | 23,863 |
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||||||||||
Decrease (increase) in refundable income taxes | (42) | 1,168 | (1,413) | ||||||||||||
Share based compensation expense | 692 | 69 | 38 | ||||||||||||
Total adjustments | 19,141 | 1,170 | 1,777 | ||||||||||||
Net cash provided by operating activities | 42,667 | 26,803 | 25,640 | ||||||||||||
Wilson Bank Holding Company [Member] | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||
Cash paid to suppliers and other | (447) | (417) | (464) | ||||||||||||
Tax benefits received | 169 | 198 | 212 | ||||||||||||
Net cash provided by operating activities | (278) | (219) | (252) | ||||||||||||
Cash flows from investing activities: | |||||||||||||||
Dividends received from commercial bank subsidiary | 1,500 | 1,500 | 2,000 | ||||||||||||
Net cash used in investing activities | 1,500 | 1,500 | 2,000 | ||||||||||||
Cash flows from financing activities: | |||||||||||||||
Dividends paid | (6,729) | (5,756) | (4,935) | ||||||||||||
Proceeds from sale of stock pursuant to dividend reinvestment | 5,266 | 4,316 | 3,511 | ||||||||||||
Proceeds from exercise of stock options | 152 | 152 | 241 | ||||||||||||
Net cash provided by financing activities | (1,311) | (1,288) | (1,183) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | (89) | (7) | 565 | ||||||||||||
Cash and cash equivalents at beginning of year | $ 1,678 | $ 1,685 | $ 1,120 | 1,678 | 1,685 | 1,120 | |||||||||
Cash and cash equivalents at end of year | $ 1,589 | $ 1,678 | $ 1,685 | 1,589 | 1,678 | 1,685 | |||||||||
Reconciliation of net earnings to net cash used in operating activities: | |||||||||||||||
Net earnings | 23,526 | 25,633 | 23,863 | ||||||||||||
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||||||||||
Equity in earnings of commercial bank subsidiary | (24,306) | (25,985) | (24,167) | ||||||||||||
Decrease (increase) in refundable income taxes | (12) | 29 | 14 | ||||||||||||
Increase in deferred taxes | (178) | 0 | 0 | ||||||||||||
Share based compensation expense | 692 | 104 | 38 | ||||||||||||
Total adjustments | (23,804) | (25,852) | (24,115) | ||||||||||||
Net cash provided by operating activities | $ (278) | $ (219) | $ (252) |
Quarterly Financial Data (Un109
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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||
Interest income | $ 23,487 | $ 22,904 | $ 22,871 | $ 21,758 | $ 22,078 | $ 21,454 | $ 20,877 | $ 20,337 | $ 20,213 | $ 19,982 | $ 19,617 | $ 19,027 | $ 91,020 | $ 84,746 | $ 78,839 |
Interest expense | 2,439 | 2,332 | 2,094 | 2,024 | 1,990 | 2,077 | 2,106 | 2,111 | 2,087 | 2,114 | 2,191 | 2,216 | 8,889 | 8,284 | 8,608 |
Net interest income | 21,048 | 20,572 | 20,777 | 19,734 | 20,088 | 19,377 | 18,771 | 18,226 | 18,126 | 17,868 | 17,426 | 16,811 | 82,131 | 76,462 | 70,231 |
Provision for loan losses | 436 | 436 | 420 | 389 | 89 | 141 | 82 | 67 | 123 | 109 | 81 | 75 | |||
Earnings before income taxes | 10,694 | 10,438 | 11,386 | 10,362 | 10,120 | 11,095 | 10,162 | 9,097 | 8,720 | 9,862 | 9,889 | 9,154 | 42,880 | 40,474 | 37,625 |
Net earnings | $ 3,574 | $ 6,469 | $ 6,988 | $ 6,495 | $ 6,802 | $ 6,918 | $ 6,270 | $ 5,643 | $ 5,958 | $ 6,088 | $ 6,201 | $ 5,616 | $ 23,526 | $ 25,633 | $ 23,863 |
Basic earnings per common share (in dollars per share) | $ 0.34 | $ 0.62 | $ 0.67 | $ 0.63 | $ 0.66 | $ 0.67 | $ 0.61 | $ 0.55 | $ 0.59 | $ 0.60 | $ 0.61 | $ 0.55 | $ 2.26 | $ 2.49 | $ 2.35 |
Diluted earnings per common share (in dollars per share) | $ 0.34 | $ 0.62 | $ 0.67 | $ 0.63 | $ 0.66 | $ 0.67 | $ 0.61 | $ 0.55 | $ 0.59 | $ 0.60 | $ 0.61 | $ 0.55 | $ 2.26 | $ 2.49 | $ 2.35 |