Wilson Bank Holding Company reported a significant increase in financial performance for the first quarter of 2025, with net earnings rising to $16.4 million, a 28.4% increase from $12.8 million in the same period last year. This growth was primarily driven by a rise in net interest income, which reached $44.6 million, up from $35.6 million in the prior year. The bank's total assets also grew by 3.2% to $5.53 billion, compared to $5.36 billion at the end of 2024, reflecting a steady increase in both loans and deposits.
The company's loan portfolio expanded to $4.18 billion, marking a 2.2% increase from $4.09 billion at the end of 2024. Notably, residential loans increased by 1.5%, while commercial and multi-family real estate loans rose by 3.1%. The allowance for credit losses on loans increased to $51.5 million, up from $49.5 million, reflecting the bank's proactive approach to managing credit risk amid a challenging economic environment. The provision for credit losses was $2.2 million for the quarter, compared to no provision in the same period last year, indicating a cautious outlook on potential credit deterioration.
In terms of operational developments, Wilson Bank has been actively expanding its footprint. The bank converted its Chattanooga loan production office into a full-service branch and entered into a purchase and assumption agreement to acquire a branch in Cookeville, Tennessee, which is expected to enhance its market presence. The acquisition, finalized on April 25, 2025, involved approximately $15.9 million in assets and $25.4 million in liabilities, including deposits.
The bank's total deposits increased by 2.7% to $4.96 billion, driven by growth in both interest-bearing and non-interest-bearing accounts. The average interest rate on interest-bearing deposits was 2.89%, slightly lower than the previous quarter's 2.94%. The efficiency ratio improved to 55.54%, down from 61.04% a year earlier, indicating better cost management relative to income generation. Looking ahead, Wilson Bank aims to focus on owner-occupied commercial real estate and consumer lending as key growth areas, while maintaining a strong capital position with a total capital ratio of 14.6% as of March 31, 2025.
About WILSON BANK HOLDING CO
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