Document:

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                                                                    EXHIBIT 10.5

                               WILSON BANK & TRUST
                     EXECUTIVE SALARY CONTINUATION AGREEMENT

         THE AGREEMENT, made and entered into this 16 day of September, 1996, by
and between Wilson Bank & Trust, a Tennessee commercial bank (hereinafter called
"Bank"), and Larry Squires (hereinafter called the "Executive").

                                   WITNESSETH:

         WHEREAS, the Executive has been and continues to be a valued Executive
of the Bank, and is now serving the Bank as its Senior Vice President; and

         WHEREAS, it is the consensus of the Board of Directors that the
Executive's services to the Bank in the past have been of exceptional merit and
have constituted an invaluable contribution to the general welfare of the Bank
and in bringing it to its present status of operating efficiency, and its
present position in its field of activity; and,

         WHEREAS, the experience of the Executive, his knowledge of the affairs
of the Bank, his reputation and contacts in the industry are so valuable that
assurance of his continued services is essential for the future growth and
profits of the Bank and it is in the best interests of the Bank to arrange terms
of continued employment for the Executive so as to reasonably assure his
remaining in the Banks employment during his lifetime or until the age or
retirement; and,

         WHEREAS, it is the desire of the Bank that his services be retained as
herein provided; and,

         WHEREAS, the Executive is willing to continue in the employ of the Bank
provided the Bank agrees to pay to him or his beneficiaries certain benefits in
accordance with the terms and conditions hereinafter set forth:

         ACCORDINGLY, it is the desire of the Bank and the Executive to enter
into this agreement under which the Bank will agree to make certain payments to
the Executive at retirement or his beneficiary in the event of his premature
death while employed by the Bank; and

         FURTHERMORE, it is the intent of the parties hereto that this agreement
be considered an unfunded arrangement maintained primarily to provide
supplemental benefits for the Executive, as a member of a select group of
management or highly compensated employees of the Bank for the purposes of the
Employee Retirement Security Act of 1974.

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         NOW, THEREFORE, in consideration of services performed in the past and
to be performed in the future as well as of the mutual promises and covenants
herein contained it is agreed as follows:

EMPLOYMENT

         1.       The Executive is an employee at will of the Bank. Except as
                  otherwise expressly provided herein, this Agreement does not
                  alter or affect the Executive's employment relations with the
                  Bank. Nothing contained herein shall be construed as
                  conferring upon the Executive the right to be retained as an
                  employee of the Bank. The Executive agrees to serve the Bank,
                  under the direction of the Board of Directors, faithfully,
                  diligently, competently and to the best of his abilities.

FRINGE BENEFITS

         2.       The salary continuation benefits provided by this agreement
                  are granted by the Bank as a fringe benefit to the Executive
                  and are not part of any salary reduction plan or an
                  arrangement deferring a bonus or a salary increase. The
                  Executive has no option to take any current payment or bonus
                  in lieu of these salary continuation benefits except as set
                  forth hereinafter.

RETIREMENT DATE

         3.       If Executive remains in the continuous employ of the Bank, he
                  shall retire from active employment with the Bank of the
                  December 31st nearest his sixty-fifth (65th) birthday, unless
                  by action of the Board of Directors his period of active
                  employment shall be shortened or extended.

RETIREMENT BENEFIT AND POST-RETIREMENT DEATH BENEFIT

         4.       (a)      Upon retirement the Bank in accordance with Paragraph
                           3 and subject to Paragraphs 4(b) and 8, commencing
                           with the first day of the month following the date of
                           such retirement, shall pay Executive an annual
                           benefit equal to $29,425 in equal monthly
                           installments (of 1/12 of the annual benefit) for a
                           period of one hundred eighty (180) months.

                  (b)      The Executive's Retirement Benefit and Post
                           Retirement Death Benefit as provided for in Paragraph
                           4(a) shall be reduced if the Bank's average return on
                           assets is below one percent (1%) upon Executive's
                           termination of service. Average return on assets
                           shall be calculated from the effective date of this
                           Agreement to the Executive's termination of service.
                           Return on assets for this purpose shall be the return
                           on assets of the Bank as defined and disclosed in the
                           Bank's annual report. If the Bank's average return on

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                           assets during the term of this agreement is below one
                           percent (1%) then the benefit due to the Executive
                           under Paragraph 4(a) shall be receive a certain
                           percentage of such benefit in accordance with the
                           following schedule:

                                       Average          Percentage

                                   Return on Assets     Of Benefit
                                   ----------------     ----------
                                  1% or greater            100%
                                0.90% - 0.99%               90%
                                0.80% - 0.89%               80%
                                0.70% - 0.79%               70%
                                Below   0.70%                0%

                  (c)      If the Executive should die subsequent to termination
                           of service but prior to receiving all one hundred
                           eighty (180) monthly payments under this Agreement,
                           then Executive's designated beneficiary shall
                           continue to receive such monthly payments until one
                           hundred eighty (180) payments have been made by the
                           Bank under this Agreement. Such beneficiary
                           designation shall be accomplished on Exhibit 2 to
                           this Agreement and filed with the Bank. In the
                           absence of any effective designation of beneficiary,
                           any such amounts becoming due and payable upon the
                           death of the Executive subsequent to termination of
                           service shall be payable to the duly qualified
                           executor or administrator of his estate.

DEATH BENEFIT PRIOR TO RETIREMENT

         5.       In the event the Executive should die while actively employed
                  by the Bank at any time after the date of this Agreement but
                  prior to his retirement upon attaining the age of sixty-five
                  (65) years (or such later date as may be agreed upon), the
                  Bank will pay an annual benefit equal to $29,425 in equal
                  monthly installments (each equal to 1/12 of the annual
                  benefit) for a period of one hundred eighty (180 months to
                  such individual or individuals as the Executive may have
                  designated as his beneficiary on Exhibit 2 and filed with the
                  Bank. The said monthly payments shall begin the first day of
                  the third month following the month of the decease of the
                  Executive. In the absence of any effective designation of
                  beneficiary, any such amount becoming due and payable upon the
                  death of the Executive shall be payable to the duly qualified
                  executor or administrator of his estate. Provided, however,
                  that anything hereinabove to the contrary notwithstanding no
                  death benefit shall be payable hereunder if it is determined
                  that the Executive's death was caused by suicide.

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DISABILITY BENEFIT PRIOR TO RETIREMENT

         6.       In the event the Executive should become disabled while
                  actively employed by the Bank at anytime after the effective
                  date of this Agreement but prior to his attaining the age of
                  sixty-five (65) years (or such later date as may be agreed
                  upon), the Bank will pay an annual benefit equal to $29,425 in
                  equal monthly installments (of 1/12 of the annual benefit) for
                  a period of one hundred eighty (180) months. "Disabled" for
                  purposes of this Paragraph 6 shall mean the Executive's
                  medically determined physical or mental impairment which
                  qualifies him for disability benefits as determined by the
                  Social Security Administration. The said monthly payments
                  shall begin the first day of the third month following the
                  month that the Executive becomes disabled. If the Executive
                  should die prior to receiving all one hundred eighty (180)
                  monthly payments pursuant to this Paragraph 6, then the
                  Executive's designated beneficiary, as listed on Exhibit 2 to
                  this Agreement, shall continue to receive such monthly
                  payments until one hundred eighty (180) payments have been
                  made by the Bank under this Agreement. In the absence of any
                  effective designation of beneficiary, any such amounts
                  becoming due and payable upon the death of the Executive
                  subsequent to becoming disabled shall be payable to the duly
                  qualified executor or administrator of his estate.

OTHER TERMINATION OF EMPLOYMENT

         7.       (a)      In the event that the Executive's employment shall
                           terminate for any reason other than death, disability
                           (as defined in Paragraph 6) or retirement (in
                           accordance with Paragraph 3), by his voluntary action
                           or his discharge by the Bank without cause, the Bank
                           shall pay to the Executive the vested portion of his
                           retirement benefit, as provided for in Paragraphs
                           4(a) and 8 and subject to any reduction in accordance
                           with Paragraph 4(b), commencing upon the earlier of
                           the Executive's death or by his attaining sixty-five
                           (65) years of age, such payment to be paid in one
                           hundred eighty (180) equal monthly payments. Such
                           payments shall commence on the first day of the month
                           after the Executive attains age sixty-five (65) or if
                           the Executive should die before that time, the first
                           day of the third month following the month of the
                           decease of the Executive. In the event the
                           Executive's death should occur after such severance
                           but prior to the commencement or completion of the
                           monthly payments provided for in this Paragraph 7(a),
                           the remaining installments shall be paid to such
                           individual or individuals as the Executive may have
                           designated in writing, and filed with the Bank. In
                           the absence of any effective designation of
                           beneficiary, any such amounts shall be payable to the
                           duly qualified executor or administrator of his
                           estate.

                  (b)      In the event the Executive shall be discharged by the
                           Bank for cause, then all of the Executive's rights
                           under this Agreement shall terminate and he shall
                           forfeit all benefits under this Agreement. For
                           purposes of this Paragraph 7(b), "for cause" shall
                           mean gross negligence or willful misconduct, the
                           commission of a felony or gross-misdemeanor involving
                           moral turpitude, fraud, dishonesty, embezzlement,
                           willful violation of any law or any other behavior or
                           act that results in any adverse effect on the Bank as
                           may be determined by the Bank in its sole discretion.

VESTING

         8.       Except for such benefits provided in Paragraphs 5 and 6, the
                  Executive shall vest in the benefits which are the subject of
                  this Agreement in accordance with the schedule listed in
                  Exhibit 1 to this Agreement. The Executive will be credited
                  with a year of participation for each anniversary thereafter
                  of the effective date of this Agreement for which the
                  Executive remains in the employ of the Bank.

BENEFIT ACCOUNTING

         9.       The Bank shall account for this benefit using the regulatory
                  accounting principles of the Bank's primary federal regulators
                  the Bank shall establish an accrued

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                  liability retirement account for the Executive into which
                  appropriate reserves shall be accrued.

PARTICIPATION IN OTHER PLANS

         10.      The benefits provided hereunder shall be in addition to
                  Executive's annual salary as determined by the Board of
                  Directors, and shall not affect the right of Executive to
                  participate in any current or future Bank Retirement Plan,
                  group insurance, bonus, or in any supplemental compensation
                  arrangement which constitutes a part of the Bank's regular
                  compensation structure.

NON-COMPETE

         11.      The payment of benefits under this Agreement shall be
                  contingent upon the Executive's not engaging in any activity
                  that directly or indirectly competes with the Bank's interests
                  for a period of three (3) years commencing on the date the
                  Executive's employment with the Bank is terminated, within
                  Wilson, Davidson, Sumner, Trousdale, Smith, DeKalb, Cannon,
                  Rutherford and Williamson counties in the State of Tennessee;
                  provided, however, that the Bank shall not be entitled to
                  injunctive enforcement of the non-compete provisions of this
                  Paragraph 11, its sole remedy for a violation by the Executive
                  of the non-compete provisions of this Paragraph 11 being the
                  right to cease the payments of benefits under this Agreement.
                  In the event there is a change of control as defined in
                  Paragraph 12, the provisions of this Paragraph 11 shall not
                  apply, and the Executive shall be entitled to the payment of
                  benefits as set forth in Paragraph 12.

CHANGE OF CONTROL

         12.      The Bank agrees that if there is a change in control of the
                  ownership of the Bank or its parent company, Wilson Bank
                  Holding Company, or if the Bank or Wilson Bank Holding Company
                  merges or consolidates with any other company or organization,
                  or permits its business activities to be taken over by any
                  other organization, or ceases its business activities or
                  terminates its existence, the Executive will then be
                  considered to be vested in one hundred percent (100%) of the
                  retirement benefit to be paid to the Executive pursuant to
                  Paragraph 4(a) above and shall not be subject to any reduction
                  as provided for in Paragraph 4(b) and shall not be subject to
                  the non-compete provisions of Paragraph 11. For purposes of
                  this Paragraph 12, "change of control" means that 50% or more
                  of the outstanding common stock of the Bank or Wilson Bank
                  Holding Company shall be held by persons who did not hold
                  such stock immediately prior to the transaction or series of
                  related transactions in which such stock was acquired by such
                  person or persons, unless such shares were acquired in an
                  underwritten public offering.

ALIENABILITY

         13.      It is agreed that neither Executive nor his/her spouse nor any
                  designated beneficiary, shall have any right to commute, sell,
                  assign, transfer or otherwise convey the right to receive any
                  payments hereunder, which payments and the right

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                  thereto are expressly declared to be non-assignable and
                  non-transferable; and, in the event of any attempted
                  assignment or transfer, the Bank shall have no further
                  liability hereunder.

RESTRICTIONS ON FUNDING

         14.      The Bank shall have no obligation to set aside earmark, or
                  entrust any fund or money with which to pay its obligations
                  under this Agreement. The Bank reserves the absolute right at
                  its sole discretion to either fund the obligations undertaken
                  by this Agreement or to refrain from funding the same and
                  determine the extent, nature, and method of such funding.

GENERAL ASSETS OF THE BANK

         15.      The rights of the Executive under this Agreement and of any
                  beneficiary of the Executive shall be solely those of an
                  unsecured creditor of the Bank. If the Bank shall acquire an
                  insurance policy or any other asset in connection with the
                  liabilities assumed by it hereunder, it is expressly
                  understood and agreed that neither Executive nor any
                  beneficiary of Executive shall have any right with respect to,
                  or claim against, such policy or other asset. Such policy or
                  asset shall not be deemed to be held under any trust for the
                  benefit of Executive or his beneficiaries or to be held in any
                  way as collateral security for the fulfilling of the
                  obligations of the Bank under this Agreement. It shall be, and
                  remain, a general, unpledged unrestricted asset of the Bank
                  and Executive or any of his beneficiaries shall not have a
                  greater claim to the insurance policy or other assets, or any
                  interest in either of them, than any other general creditor of
                  the Bank.

CLAIMS PROCEDURE

         16.      (a)      In the event that benefits under this Agreement are
                           not paid to the Executive (or his beneficiary in the
                           case of the Executive's death), and such person feels
                           entitled to receive them, a claim shall be made in
                           writing to the Board of Directors of the Bank within
                           sixty (60) days from the date payments are not made.
                           Such claim shall be reviewed by the Board of
                           Directors of the Bank and the Bank. If the claim is
                           denied, in full or in part, the Board of Directors of
                           the Bank shall provide a written notice within ninety
                           (90) days setting forth the specific reasons for
                           denial specific reference to the provisions of this
                           Agreement upon which the denial is based, and any
                           additional material or information necessary to
                           perfect the claim, if any. Also, such written notice
                           shall indicate the steps to be taken if a review of
                           the denial is desired.

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                           If a claim is denied and a review is desired, the
                           Executive (or his beneficiary in the case of the
                           Executive's death), shall notify the Board of
                           Directors of the Bank in writing within sixty (60)
                           days and a claim shall be deemed denied if the Plan
                           Administrator does not take any action with the
                           aforesaid ninety (90)-day period. In requesting a
                           review, the Executive or his beneficiary may review
                           this Agreement or any documents relating to it and
                           submit any written issue and comments he or she may
                           feel appropriate. In its sole discretion the Plan
                           Administrator shall then review the claim and provide
                           a written decision within sixty (60) days. This
                           decision likewise shall state the specific provisions
                           of the Agreement on which the decision is based.

                  (b)      For purposes of implementing this claims procedure,
                           the Board of Directors of the Bank shall be
                           responsible for the management, control, and
                           administration of the Agreement as established
                           herein. The Bank may delegate to certain aspects of
                           the management a operation responsibilities of the
                           Agreement including the employment of advisors and
                           the delegation of ministerial duties to qualified
                           individuals.

AMENDMENT

         17.      This Agreement may be amended in whole or in part from time to
                  time by the Bank. However, any modification to this Agreement
                  must be in writing.

INTERPRETATION

         18.      The Bank, acting in good faith, shall have reasonable
                  discretion to interpret this Agreement. The Bank's
                  interpretation and actions hereunder, if made in the exercise
                  of good faith discretion and not in an arbitrary and
                  capricious manner, shall be conclusive and binding upon all
                  persons for all purposes. Unless the Board of Directors of the
                  Bank determines otherwise regarding the interpretation of this
                  Agreement or the review of claims pursuant to Paragraph 16,
                  the Chairman of the Board shall interpret this agreement and
                  review any claim acting on behalf of the Bank. Neither the
                  Bank nor any of its officers, employees or members of the
                  Board of Directors (including the Chairman of the Board) shall
                  be liable to the Executive or any other person for any action
                  taken in connection with the interpretation of the Agreement.

HEADINGS

         19.      Headings and subheading of this Agreement are inserted for
                  reference and convenience only and shall not be deemed a part
                  of this Agreement.

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APPLICABLE LAW

         20.      The validity and interpretation of this Agreement shall be
                  governed by the laws of the State of Tennessee.

BINDING EFFECT

         21.      Except as herein otherwise expressly stipulated to the
                  contrary, this Agreement shall be binding upon and inure to
                  the benefit of the Executive and the Bank and their respective
                  successors and permited assigns.

EFFECTIVE DATE

         22.      The effective date of this Agreement shall be
                  September 16, 1996.

         IN WITNESS WHEREOF, Wilson Bank and Trust has caused this Agreement to
be signed in its corporate name by its duly authorized officer, and attested by
its Secretary, and the Executive has hereunto set her hand, all on the day and
year first above written.

                                       WILSON BANK AND TRUST

                                       By: /s/ Randall Clemons
                                          ----------------------------------
                                    Title: President
                                          ----------------------------------

ATTEST:
   /s/ Becky F. Taylor
--------------------------
Secretary
                                              /s/ Larry Squires
                                       ------------------------------
                                       Executive

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                              EXHIBIT 1

                           VESTING SCHEDULE
                           ----------------

  YEAR(S) OF                                AMOUNT OF RETIREMENT BENEFIT
PARTICIPATION                                  IN WHICH VESTING OCCURS
-------------                              -----------------------------

       1                                             6%

       2                                             12%

       3                                             18%

       4                                             24%

       5                                             30%

       6                                             36%

       7                                             42%

       8                                             48%

       9                                             54%

      10                                             60%

      11                                             66%

      12                                             72%

      13                                             78%

      14                                             84%

      15                                             90%

      16                                             96%

      17 and thereafter                              100%

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                                    EXHIBIT 2

                           DESIGNATION OF BENEFICIARY

         Pursuant to the terms of the Wilson Bank Holding Company Salary
Continuation Agreement (the "Agreement"), dated ______________, 1996 between
myself and Wilson Bank Holding Company, I hereby designated the following
beneficiary(ies) to receive payments which may be due under such Agreement after
my death:

Primary Beneficiary:

-------------------                 ---------------------     -------------
Name                                      Address             Relationship

Secondary Beneficiary(ies)

-------------------                 ---------------------     -------------
Name                                      Address             Relationship

-------------------                 ---------------------     -------------
Name                                      Address             Relationship

          The Primary Beneficiary named above shall be the designated
beneficiary referred to in Paragraphs 4 and 5 of the Agreement if he or she is
living at the time a death benefit payment thereunder becomes due and payable,
and the Secondary Beneficiary named above shall be the designated beneficiary
referred to in Paragraphs 4 and 5 of the Agreement only if he or she is living
at the time a death benefit payment becomes payable and the Primary Beneficiary
is not then living.

         This designation hereby revokes any prior designation which may have
been in effect.

                                    Date:
                                         ----------------------------

------------------------            ---------------------------------
Witness                             Executive

                                    Acknowledged by:

                                    ---------------------------------
                                            (Bank Officer)<PAGE>

                                                                  EXHIBIT 10.6

                                   AMENDMENT
                 TO THE WILSON BANK AND TRUST EXECUTIVE SALARY
                             CONTINUATION AGREEMENT
                            DATED SEPTEMBER 16, 1996

        This Amendment, made and entered into this 1st day of January, 2001, by
and between Wilson Bank and Trust, a Bank organized and existing under the laws
of the State of Tennessee, hereinafter referred to as the "Bank", and Larry
Squires, a Key Employee and Executive of the Bank, hereinafter referred to as
the "Executive", shall effectively amend the Wilson Bank and Trust Executive
Salary Continuation Agreement dated September 16, 1996, as specifically set
forth herein pursuant to paragraph 17 of said agreement. Said agreement shall be
amended as follows;

1.) To delete the amount of Twenty Two Thousand Three Hundred and 00/100 Dollars
($22,300.00) in subparagraph 4(a) and replace it with the following language:
"... Sixty percent (60%) of the Executive's salary and bonus at the time of
retirement less Fifty percent (50%) of Executive's social security, and Bank's
portion of 401(k) and profit sharing...,"

2.) To delete the amount of Twenty Two Thousand Three Hundred and 00/100 Dollars
($22,300.00) in paragraph 5 and replace it with the following language:
"... Sixty percent (60%) of the Executive's salary and bonus at the time of
death less Fifty percent (50%) of Executive's social security, and Bank's
portion of 401(k) and profit sharing ..."

3.) To delete the amount of Twenty Two Thousand Three Hundred, and 00/100
Dollars ($22,300.00) in paragraph 6 and replace it with the following language:
"... Sixty percent (60%) of the Executive's salary and bonus as if the
Executive had been employed by the Bank until retirement less Fifty percent
(50%) of Executive's social security, and Bank's portion of 401(k) and profit
sharing."

4.) To add the following language at the end of subparagraph 7(a): "The salary
and bonus for purposes of calculating the benefit under this paragraph shall be
the Executive's salary and bonus at the time of termination."

         This Amendment shall be effective the 16th day of September, 1996, and
the terms referred to hereinabove shall supercede the terms of the September 16,
1996 agreement. To the extent that any paragraph, term, or provision of said
agreement is not specifically amended herein, or in any other amendment thereto,
said paragraph, term, or provision shall remain in full force and effect as set
forth in said agreement.

         IN WITNESS WHEREOF, the parties hereto acknowledge that each has
carefully read this Amendment and executed the original thereof on the 27th day
of February, 2001, and that upon execution, each has received a conforming copy.

                                             WILSON BANK AND TRUST
                                             Lebanon, Tennessee

 /s/ Lisa T. Towell                        By: /s/ Randall Clemons, President
------------------------------                -------------------------------
Witness                                                             Title

 /s/ Becky F. Taylor                           /s/ Larry Squires
------------------------------                -------------------------------
Witness                                       Larry Squires

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