Wilson Bank reports 9-month net income $40.7M, EPS $3.58; equity down 17.2% on unrealized losses

WILSON BANK HOLDING CO

2022-Q3 EPS reported $3.58 revenue$9,870,000

Net income for nine months ended Sep 30, 2022: $40.7M, up 14.25% YoY from $35.6M; diluted EPS $3.58 vs $3.20.
Assets $4.13B, up 3.53% from Dec 2021; shareholder equity $342.6M, down 17.2% due to $115.2M unrealized losses.
Loan growth strong early Q3 but slowed in September due to rising rates; net interest margin likely to reverse trend.
Expanding into Chattanooga market: hired three commercial bankers (Kathryn Gann, Ami Ingle, Elise O'Brien).
Allowance for loan losses at 1.26% of loans; bank does not anticipate needing to sell investments at a loss.

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