Form 8-K - Current report

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): July 12, 2024

   

WILSON BANK HOLDING COMPANY

(Exact name of Registrant as Specified in Its Charter)


Tennessee	0-20402	62-1497076
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

623 West Main Street
Lebanon, Tennessee		37087
(Address of Principal Executive Offices)		(Zip Code)

    Registrant’s Telephone Number, Including Area Code: 615 444-2265

   

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
None	N/A	N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 12, 2024, Wilson Bank Holding Company (the “Company”) mailed a letter to its shareholders (the “Shareholder Letter”) describing, among other things, the Company’s earnings for the first six months of 2024. The Shareholder Letter is furnished herewith as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure.

The information set out in Item 2.02 is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.


Exhibit Number		Description
99.1		EX-99.1 Letter to shareholders mailed July 12, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			WILSON BANK HOLDING COMPANY

Date:	July 12, 2024	By:	/s/ John C. McDearman III
			John C. McDearman III President/Chief Executive Officer

Exhibit 99.1

July 12, 2024

Dear Shareholder:

As we close another successful quarter, we are pleased to share the progress and achievements that continue to drive our community bank forward. Despite challenges posed by the uncertain economic landscape, we believe we have much to celebrate and be thankful for.

The following are the results as of and for the six months ended June 30, 2024:

•

Assets as of June 30, 2024 were $4.99 billion, representing an increase of $149.3 million, or 3.1%, from December 31, 2023.

•

Loans as of June 30, 2024 were $3.8 billion, representing an increase of $161.9 million, or 4.5%, from December 31, 2023.

•

Deposits as of June 30, 2024 were $4.5 billion, representing an increase of $124.2 million, or 2.8%, from December 31, 2023.

•

Shareholder's equity was $449.1 million as of June 30, 2024, representing an increase of $19.7 million, or 4.6%, from December 31, 2023.

•

Net Income for the six months ended June 30, 2024 was $28.9 million, up $2.7 million, or 10.2%, over the six months ended June 30, 2023.

•

Earnings Per Diluted Share for the six-month period ended June 30, 2024 were $2.45, compared to $2.26 for the six-month period ended June 30, 2023, an increase of 8.4%.

The Board of Directors has declared a $1.00 per share cash dividend to shareholders of record as of July 1, 2024 that will be payable on July 26, 2024. The latest price at which the Company’s common stock has been traded of which we are aware was $73.10 per share.

This quarter, we have seen solid growth in both our loan and deposit portfolios. Williamson County, in particular, has been a standout area of growth. Our focused efforts on providing tailored financial solutions continue to resonate well with both individuals and businesses in this vibrant community. This growth not only strengthens our financial position but also reinforces our commitment to supporting the economic development of the regions we serve.

April was an important month for our bank as we celebrated Financial Literacy Month. We emphasized the importance of financial education through various initiatives and partnerships with one highlight being our collaboration with Tennessee Tech University. Through a series of workshops and seminars, we reached out to students and faculty members, providing essential financial education, underscoring our dedication to empowering our community with the knowledge and tools needed for financial success.

On May 14th, we hosted our annual Shareholder Picnic at the Wilson County Fairgrounds. Despite some inclement weather moving us indoors, the event was a tremendous success, drawing

over 1,000 shareholders and their family members to the "Made in Tennessee" building. The evening was filled with local catering, live music, and the spirit of fellowship that defines our community. Your participation and support are what make events like these so successful and meaningful.

Excellent progress has been made on the buildout of our newest office – Century Farms in Davidson County. This new location should enhance our ability to serve our customers and expand our presence in this community. We are excited about this new office and look forward to the opportunity to provide a convenient banking experience for our customers in the area.

In conclusion, we extend our heartfelt thanks to each of you for your unwavering support and trust. Our achievements this quarter are a testament to the strength and dedication of our team, shareholders, and community. As we look ahead, we remain committed to delivering exceptional service, fostering financial growth for our customers, and enriching the communities we serve.

Warm regards,

John McDearman Jimmy Comer

President/CEO Chairman

Wilson Bank Holding Company Wilson Bank Holding Company

Document And Entity Information	Jul. 12, 2024
Document Information [Line Items]
Entity Registrant Name	WILSON BANK HOLDING COMPANY
Document Type	8-K
Document Period End Date	Jul. 12, 2024
Entity Incorporation, State or Country Code	TN
Entity File Number	0-20402
Entity Tax Identification Number	62-1497076
Entity Address, Address Line One	623 West Main Street
Entity Address, City or Town	Lebanon
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37087
City Area Code	615
Local Phone Number	444-2265
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	None
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000885275