Financial Performance and Position - The Company reported a fourth-quarter repositioning of its balance sheet by selling $83.7 million in investment securities, resulting in an after-tax realized loss of $9.1 million[67]. - The profitability of the Company is significantly affected by local economic conditions in central and west-central Missouri and eastern Kansas, with potential declines in profitability due to increased unemployment and decreased real estate values[64]. - The primary source of earnings for the Bank is net interest income, which may decrease if prevailing interest rates decline, impacting the overall profitability of the Company[66]. - The Company faces credit risk as a lender, with potential loan defaults and increased charge-offs if borrowers are unable to repay their loans[70]. - The Bank's loan portfolio is susceptible to local economic conditions, and high levels of non-performing assets could adversely affect the Company's financial condition[71]. - The provision for credit losses may need to be increased if the financial condition of borrowers deteriorates or if real estate values decline, impacting future profitability[72]. - Adverse market conditions, including increased unemployment and reduced availability of commercial credit, could negatively impact the Company's business and credit performance[73]. - The FDIC's changes in deposit insurance premium calculations could increase non-interest expenses and adversely affect the Company's profitability[82]. - Liquidity risk is a concern for the Company, as insufficient liquidity could impair its ability to fund operations and meet obligations[78]. - The Company relies on customer deposits and may face challenges in replacing withdrawals or maturing deposits if market conditions change[79]. - The company may need to seek additional capital in the future, which could be affected by illiquid credit markets and economic conditions[83]. - The stock price of the company is subject to significant fluctuations due to various factors, including market conditions and operational performance, which could affect shareholder liquidity[122]. - The trading volume of the company's common stock is low, making it difficult for shareholders to sell shares quickly and potentially leading to price volatility[125]. - The company is not insured by any governmental entity, which poses additional risks for investors[126]. - The Company has not issued any new securities recently[154]. Competition and Market Conditions - The bank faces substantial competition from various financial institutions, which may adversely affect its ability to attract loans and deposits[85]. - Increased competition could lead to a decline in the bank's market share of deposits and loans, impacting its financial condition[86]. Operational and Compliance Risks - The company may experience difficulties in managing growth and integrating newly acquired companies, which could pose risks to profitability[87]. - The bank's success depends on its ability to generate loans and deposits at acceptable risk levels without significant increases in non-interest expenses[90]. - The bank's reputation is critical to its success, and any misconduct or errors could materially harm its performance[91]. - The company is exposed to operational risks, including fraudulent activities and cybersecurity incidents, which could disrupt business and increase costs[92]. - Regulatory changes may impact the profitability of the company's business activities and require significant management resources to comply[101]. - The Federal Reserve may require the company to commit capital resources to support its subsidiary bank, which could adversely affect its financial condition[102]. - Changes to regulatory capital requirements could result in lower returns on invested capital and require raising additional capital[104]. - The company is subject to increased FDIC deposit insurance premiums due to a decline in the reserve ratio of the Deposit Insurance Fund (DIF) relative to total insured deposits, which could adversely affect its financial condition[105]. - Non-compliance with laws such as the USA PATRIOT Act and Bank Secrecy Act could lead to fines, sanctions, and restrictions on expansion opportunities, impacting the company's growth potential[106]. - The company faces potential increased costs and operational impacts due to evolving privacy, cybersecurity, and data protection regulations, which could affect its business opportunities[107]. - Compliance with current and future laws may result in higher costs and restrict the company's ability to provide certain products and services, adversely affecting its financial condition[109]. Cybersecurity and IT Risks - The company relies heavily on technology and third-party vendors, and any operational disruptions or failures in these areas could materially impact its business operations and financial results[121]. - The Company has implemented a comprehensive cybersecurity and IT risk management program based on NIST and FFIEC frameworks, led by a Director with over 15 years of experience in cybersecurity[130]. - The Audit Committee meets quarterly to assess cybersecurity risks and receives reports on the status of the Company's information security program and emerging threats[131]. - The Company engages outside experts for cybersecurity assessments and audits, ensuring robust vendor management and annual due diligence on critical vendors[134]. - The Incident Response Program categorizes incidents into five severity levels, assessing impacts on financial loss, reputation, and service interruption[136]. - The Company has not experienced material adverse impacts from cyber threats to date, but acknowledges ongoing risks from malicious cyber activity[137]. - The company may face reputational damage and financial losses due to potential cybersecurity incidents, which could lead to increased costs for remediation and protection[118]. - Changes in accounting policies and adverse publicity could also impact the company's future financial performance and operational results[127]. Financial Reporting and Governance - The Company maintained effective internal control over financial reporting as of December 31, 2024, based on the criteria established in the Internal Control – Integrated Framework (2013)[170]. - There were no changes in the Company's internal control over financial reporting during the quarter ended December 31, 2024, that materially affected its internal control[168]. - The independent registered public accounting firm expressed an unqualified opinion on the Company's consolidated financial statements for the year ended December 31, 2024[171]. - The Company has no disagreements with accountants on accounting and financial disclosure[164]. - The consolidated financial statements for the years ended December 31, 2024, 2023, and 2022 are included in the Company's 2024 Annual Report to Shareholders[189]. - The auditor for the Company is Forvis Mazars, LLP, located in Kansas City, MO[190]. - The consolidated balance sheets as of December 31, 2024, and 2023 are reported, indicating the Company's financial position[190]. - The consolidated statements of income for the years ended December 31, 2024, 2023, and 2022 are provided, detailing revenue and expenses[191]. - The consolidated statements of comprehensive income for the years ended December 31, 2024, 2023, and 2022 are included, reflecting overall financial performance[192]. - The consolidated statements of stockholders' equity for the years ended December 31, 2024, 2023, and 2022 are presented, showing changes in equity[193]. - The consolidated statements of cash flows for the years ended December 31, 2024, 2023, and 2022 are available, detailing cash inflows and outflows[193]. - The Company has omitted certain financial statement schedules as they are not required or applicable[194]. - The Company has filed various exhibits related to executive compensation and corporate governance in its definitive Proxy Statement for the 2025 Annual Meeting of Shareholders[188]. - The Company has a policy for the recovery of erroneously awarded compensation, indicating a commitment to ethical governance practices[195].

Financial Performance - Fourth quarter 2024 net income was $4.6 million, or $0.66 per diluted share, consistent with the prior quarter and up 161.8% from the fourth quarter 2023[7] - For the year ended December 31, 2024, net income was $18.3 million, or $2.61 per diluted share, an increase of $17.3 million from the prior year[6] - Non-interest income for 2024 was $14.3 million, a 90.0% increase from $7.5 million in 2023[12] - Non-interest expenses decreased by $2.8 million, or 5.4%, to $49.5 million for 2024 compared to the prior year[14] Asset Quality - The allowance for credit losses was $22.0 million, or 1.50% of outstanding loans, as of December 31, 2024[22] - Non-performing loans decreased to $2,747,000 in Q4 2024 from $4,066,000 in Q3 2024, and down from $6,413,000 in Q4 2023[29] - Non-performing assets reduced to $4,193,000 in Q4 2024 from $8,451,000 in Q3 2024, and down from $8,157,000 in Q4 2023[29] - Net charge-offs for Q4 2024 were $43,000, significantly lower than $636,000 in Q3 2024 and $268,000 in Q4 2023[29] - Allowance for credit losses on non-performing loans is at 802.48% in Q4 2024, up from 539.52% in Q3 2024, and significantly higher than 370.25% in Q4 2023[29] Capital and Ratios - The company remains well capitalized with total risk-based capital of 14.79%[24] - Return on average assets for Q4 2024 is 1.00%, consistent with Q3 2024, compared to (1.57)% in Q4 2023[29] - Return on average common equity for Q4 2024 is 12.49%, slightly down from 12.87% in Q3 2024, and significantly improved from (24.54)% in Q4 2023[29] - Total risk-based capital ratio for Q4 2024 is 14.79%, slightly down from 14.91% in Q3 2024, and up from 13.99% in Q4 2023[29] - Common equity Tier 1 capital ratio for Q4 2024 is 10.49%, down from 10.53% in Q3 2024, and improved from 9.73% in Q4 2023[29] Operational Efficiency - Efficiency ratio improved to 68.48% in Q4 2024 from 66.23% in Q3 2024, and down from 81.06% in Q4 2023[29] Growth and Expansion - Total deposits increased by $29.7 million, or 2.0%, from the prior quarter, but decreased by $37.7 million, or 2.4%, from the prior year[23] - Investments rose by $14.8 million, or 7.1%, from the prior quarter and increased by $28.8 million, or 14.7%, from the prior year[18] - The company received approval to open a new banking center in Overland Park, Kansas, in February 2025[4] Interest Margin - Net interest margin improved to 3.55% in the fourth quarter 2024, compared to 3.36% in the prior quarter[4] - Net interest margin (FTE) increased to 3.55% in Q4 2024 from 3.36% in Q3 2024, and up from 3.48% in Q4 2023[29]

Core Viewpoint - Hawthorn Bancshares, Inc. reported strong financial results for the fourth quarter and full year of 2024, highlighting improvements in net income, operational efficiency, and strategic growth initiatives [1][4]. Financial Summary - Fourth quarter 2024 net income was $4.6 million, or $0.66 per diluted share, consistent with the prior quarter and a significant increase of $12.0 million, or 161.8%, from the fourth quarter of 2023 [6][8]. - For the year ended December 31, 2024, net income was $18.3 million, or $2.61 per diluted share, compared to $1.0 million, or $0.14 per diluted share, for 2023, reflecting an improvement of $17.3 million [7][29]. - The net interest margin for the fourth quarter improved to 3.55% from 3.36% in the prior quarter, while the full-year net interest margin was 3.41% [6][10]. Balance Sheet Information - Total assets as of December 31, 2024, were $1.825 billion, a slight increase from $1.810 billion in the prior quarter but a decrease from $1.875 billion in the prior year [5]. - Loans held for investment decreased to $1.466 billion, down 0.04% from the prior quarter and down 4.7% from the prior year [18]. - Total deposits increased by $29.7 million, or 2.0%, from the prior quarter to $1.533 billion, but decreased by $37.7 million, or 2.4%, from the prior year [25]. Capital and Asset Quality - The company maintained a "well capitalized" position with total risk-based capital of 14.79% as of December 31, 2024 [26]. - Non-performing loans to total loans improved to 0.19%, down from 0.42% in the prior year, indicating strong credit quality [20][31]. - The allowance for credit losses was $22.0 million, or 1.50% of outstanding loans, and 802.48% of non-performing loans [24]. Non-Interest Income and Expenses - Total non-interest income for 2024 was $14.3 million, an increase of $6.8 million, or 90.0%, from the prior year [13]. - Non-interest expense for 2024 decreased by $2.8 million, or 5.4%, to $49.5 million compared to $52.4 million in 2023 [15]. - The efficiency ratio for the fourth quarter was 68.5%, compared to 66.2% in the prior quarter and 81.1% in the prior year quarter [17]. Future Outlook - The company received approval to open a new banking center in Overland Park, Kansas, in February 2025, indicating ongoing growth initiatives [4].

Financial Performance - Consolidated net income for Q3 2024 was $4.6 million, or $0.66 per diluted share, representing a 77.4% increase from $2.6 million, or $0.36 per diluted share, in Q3 2023[146]. - For the nine months ended September 30, 2024, consolidated net income increased by $5.3 million, or 62.6%, to $13.7 million, or $1.95 per diluted share, compared to $8.4 million, or $1.19 per diluted share, for the same period in 2023[147]. - The return on average assets for Q3 2024 was 1.00%, and the return on average stockholders' equity was 12.87%[146]. - The efficiency ratio for Q3 2024 improved to 66.2% from 79.79% in Q3 2023[146]. Income and Expenses - Net interest income for Q3 2024 was $14.3 million, a decrease of $0.8 million from $15.1 million in Q3 2023, while the net interest margin (FTE) increased to 3.36% from 3.35%[149]. - Non-interest income for Q3 2024 was $3.8 million, up from $0.6 million in Q3 2023, primarily due to earnings on bank-owned life insurance and gains on the sale of other real estate[151]. - Non-interest expense for Q3 2024 was $12.0 million, a decrease from $12.6 million in Q3 2023, attributed to improved operational efficiencies[152]. - Total non-interest income increased by $3.2 million, or 524.3%, to $3.8 million for Q3 2024 compared to $0.6 million for Q3 2023[182]. - Total non-interest expense decreased by $0.6 million, or 4.6%, to $12.0 million for Q3 2024 compared to $12.6 million for Q3 2023[188]. Assets and Liabilities - Cash and cash equivalents decreased by $39.2 million to $54.2 million as of September 30, 2024, compared to $93.4 million as of December 31, 2023[153]. - Total assets were $1.81 billion as of September 30, 2024, down from $1.89 billion at the end of the previous year[162]. - Total deposits decreased by $67.3 million to $1.50 billion as of September 30, 2024, compared to $1.57 billion as of December 31, 2023[158]. - Total interest-bearing deposits were $1.13 billion, with an average cost of 2.74%[162]. - Total loans held for investment decreased to $1.47 billion as of September 30, 2024, from $1.54 billion as of December 31, 2023[196]. Credit Quality - Non-performing assets increased to $8.5 million as of September 30, 2024, from $7.4 million in 2023[144]. - Non-performing assets to total loans increased to 0.58% at September 30, 2024, from 0.53% at December 31, 2023, with non-performing assets totaling $8.5 million[155]. - The allowance for credit losses was $21.9 million, or 1.50% of loans outstanding, as of September 30, 2024, down from $23.7 million, or 1.54%, at December 31, 2023[157]. - The company's net charge-offs increased to $0.6 million for Q3 2024 from $0.1 million in Q3 2023, primarily due to one commercial loan relationship[212]. - The provision for credit losses recognized was $0.5 million for the three months ended September 30, 2024, compared to $0.1 million for the same period in 2023[208]. Capital Adequacy - The total risk-based capital ratio was 14.91% as of September 30, 2024, compared to 14.20% in 2023[144]. - The Company’s total capital to risk-weighted assets ratio was 14.91%, exceeding the minimum required ratio of 10.50%[241]. - The Company's Tier 1 capital to risk-weighted assets ratio was 13.66%, above the minimum required ratio of 8.50%[241]. - The Common Equity Tier 1 capital to risk-weighted assets ratio was 10.53%, surpassing the minimum required ratio of 7.00%[241]. - The Company met all capital adequacy requirements as of September 30, 2024, with regulatory capital ratios exceeding the levels established for well-capitalized institutions[244]. Liquidity - The company believes it has more than adequate liquidity to meet future anticipated needs, supported by additional funding capacity with the FHLB and the Federal Reserve Bank[229]. - As of September 30, 2024, the Company had $335.0 million in unused loan commitments and standby letters of credit, indicating adequate liquidity resources[233]. - The company had $96.4 million in outstanding borrowings with the Federal Home Loan Bank as of September 30, 2024, down from $107.0 million at December 31, 2023[225]. Shareholder Returns - The Company paid cash dividends totaling approximately $3.7 million and $3.5 million during the nine months ended September 30, 2024 and 2023, respectively[234]. - The Bank declared dividends of $15.0 million and $9.0 million to the Company during the nine months ended September 30, 2024 and 2023, respectively[234]. - The Company repurchased 56,692 common shares at an average cost of $19.51 per share, totaling $1.1 million, with $3.9 million remaining available for share repurchases[236]. Interest Rate Risk - The projected change in net interest income from interest rate shifts of up to 200 basis points is considered an acceptable level of interest rate risk[251]. - Average interest-earning assets decreased by $104.6 million, or 5.7%, to $1.72 billion for the quarter ended September 30, 2024[167]. - The average yield on loans increased to 5.83% for the quarter ended September 30, 2024, compared to 5.67% for the same period in 2023[171]. Inflation Impact - Inflation did not have a significant effect on the Company's operations for the three months ended September 30, 2024[255].

Core Viewpoint - Hawthorn Bancshares, Inc. reported a significant increase in net income and earnings per share for the third quarter of 2024, reflecting strong financial performance and strategic focus on core business lines [1][2][4]. Financial Performance - Net income for Q3 2024 was $4.6 million, an increase of $2.0 million or 77% from Q3 2023, with earnings per diluted share (EPS) of $0.66, up $0.30 or 83% from the prior year [2][4]. - Net interest margin improved to 3.36% in Q3 2024 from 3.33% in Q2 2024 [2][6]. - Return on average assets and equity were 1.00% and 12.87%, respectively [2][26]. Balance Sheet Highlights - Total assets decreased to $1.81 billion as of September 30, 2024, down from $1.88 billion a year earlier [3]. - Loans held for investment decreased by $31.8 million or 2.1% from the prior quarter, totaling $1.47 billion [3][14]. - Total deposits were $1.50 billion, a decrease of $46.7 million or 3.0% from the prior quarter [3][20]. Non-Interest Income and Expenses - Total non-interest income for Q3 2024 was $3.8 million, a decrease of $0.2 million or 5.3% from the prior quarter, but an increase of $3.2 million or 524.3% from the prior year [9][11]. - Total non-interest expense was $12.0 million, a slight decrease of $0.04 million or 0.3% from the prior quarter, and a decrease of $0.6 million or 4.6% from the prior year [12][24]. Asset Quality - Non-performing loans to total loans stood at 0.28%, indicating strong credit quality [2][19]. - The allowance for credit losses was $21.9 million, or 1.50% of outstanding loans, providing a buffer against potential losses [19][21]. Capital Position - The company maintained a "well capitalized" status with a total risk-based capital ratio of 14.91% as of September 30, 2024 [21][27]. - Book value per share increased to $20.91, up 24% from the prior year [2][3]. Strategic Initiatives - The CEO highlighted progress on strategic objectives, including reduced overhead expenses and expanded fee income [2].

Financial Performance - Net income for Q3 2024 was $4.6 million, an increase of $2.0 million or 77% compared to Q3 2023, with EPS of $0.66, up 83% from the prior year quarter[1][4] - Net income for Q3 2024 was $4,574,000, compared to $4,628,000 in Q2 2024 and significantly higher than $2,579,000 in Q3 2023[25] - Non-interest income for Q3 2024 was $3.8 million, a decrease of $0.2 million, or 5.3%, from the prior quarter, but an increase of $3.2 million, or 524.3%, from the prior year quarter[10] - Non-interest income for the nine months ended September 30, 2024, was $10,798,000, up from $5,384,000 in the same period of 2023[25] - Basic earnings per share for the nine months ended September 30, 2024, was $1.95, compared to $1.19 in the same period of 2023[25] Asset and Deposit Trends - Total assets decreased to $1.81 billion as of September 30, 2024, down from $1.85 billion at June 30, 2024, and $1.88 billion at September 30, 2023[3] - Total deposits were $1.50 billion, a decrease of $46.7 million, or 3.0%, from the prior quarter, and down $76.9 million, or 4.9%, from the prior year[21] - Loans held for investment decreased by $31.8 million, or 2.1%, to $1.47 billion compared to the prior quarter, and decreased by $90.2 million, or 5.8%, from the prior year[15] Credit Quality and Capital Ratios - The allowance for credit losses was $21.9 million, or 1.50% of outstanding loans, as of September 30, 2024, compared to $22.0 million, or 1.47%, at June 30, 2024[20] - Provision for credit losses on loans and unfunded commitments increased to $500,000 in Q3 2024 from $457,000 in Q2 2024 and $110,000 in Q3 2023[25] - Non-performing loans to total loans ratio was 0.28% in Q3 2024, slightly up from 0.25% in Q3 2023[27] - The Company maintained a total risk-based capital ratio of 14.91% as of September 30, 2024, indicating a "well capitalized" status[22] - Total risk-based capital ratio as of September 30, 2024, was 14.91%, up from 14.20% in the previous year[27] Efficiency and Profitability Metrics - The efficiency ratio for Q3 2024 was 66.23%, a slight improvement from 66.24% in the prior quarter and significantly better than 79.79% in the prior year quarter[14] - The efficiency ratio for Q3 2024 improved to 66.23% from 79.79% in Q3 2023[27] - Return on average assets for Q3 2024 was 1.00%, up from 0.54% in Q3 2023[27] - Return on average common equity for Q3 2024 was 12.87%, compared to 8.05% in Q3 2023[27] Interest Income - Total interest income for Q3 2024 was $23,819,000, a slight increase from $23,556,000 in Q2 2024 but a decrease from $23,888,000 in Q3 2023[25] Dividends - A quarterly cash dividend of $0.19 per common share was approved, payable on January 1, 2025, to shareholders of record on December 15, 2024[24]

Core Insights - Bob Regnier has been appointed as an advisory member of the Board of Directors for both Hawthorn Bank and its parent company, Hawthorn Bancshares, Inc. [1][2] - Regnier will play a significant role in providing strategic advice and enhancing the bank's community banking model in the Kansas City metro area [2][4] - The addition of Regnier reflects Hawthorn Bank's commitment to innovative banking solutions and community engagement [4][6] Company Overview - Hawthorn Bancshares, Inc. is a financial-bank holding company based in Jefferson City, Missouri, with nearly $2 billion in assets [6] - The bank has been operational for over 150 years, offering personal and business banking solutions across various Missouri communities [6] Recent Developments - Hawthorn Bank recently opened a new banking center in Clay County, aimed at serving the Kansas City Northland [5]

Earnings - The company reported net income of $4.6 million for the second quarter of 2024, an increase of $0.2 million or 3.9% from the prior quarter, and an increase of $2.1 million or 81.6% from the second quarter of 2023 [13][25] - Earnings per diluted share (EPS) for the second quarter 2024 was $0.66, compared to $0.63 for the prior quarter and $0.36 for the prior year quarter [13][41] Financial Summary - Total interest income for the second quarter 2024 was $23.6 million, while total interest expense was $9.4 million, resulting in net interest income of $14.2 million [40] - Non-interest income for the second quarter 2024 was $4.0 million, an increase of $1.0 million or 32.3% from the prior quarter, and an increase of $2.4 million or 150.3% from the prior year quarter [16][40] - Total non-interest expense for the second quarter 2024 was $12.0 million, a decrease of $0.5 million or 4.3% from the prior quarter [31] Asset Quality - The allowance for credit losses at June 30, 2024 was $22.0 million, or 1.47% of outstanding loans, and 495.38% of non-performing loans [6][36] - Non-performing loans totaled $4.4 million at June 30, 2024, a decrease from $8.5 million at March 31, 2024, and an increase from $3.8 million at June 30, 2023 [18] Capital Ratios - As of June 30, 2024, the total risk-based capital ratio was 14.30%, and the Tier 1 risk-based capital ratio was 12.94% [9][36] - The company maintains a "well capitalized" regulatory capital position [36] Deposits - Total deposits at June 30, 2024 were $1.6 billion, an increase of $22.4 million or 1.5% from March 31, 2024 [19] - The average cost of deposits was 2.69% for the second quarter 2024, compared to 2.61% for the prior quarter [29]

Financial Performance - The company reported net income of $4.6 million for the second quarter of 2024, an increase of $0.2 million or 3.9% from the prior quarter, and an increase of $2.1 million or 81.6% from the same quarter in the previous year [8][22] - Earnings per diluted share (EPS) for the second quarter 2024 was $0.66, compared to $0.63 in the prior quarter and $0.36 in the prior year quarter [8][22] - Net interest income for the second quarter 2024 was $14.2 million, a decrease of $0.6 million from the prior quarter, and a decrease of $0.03 million from the prior year quarter [16][17] Asset Quality - The allowance for credit losses at June 30, 2024 was $22.0 million, or 1.47% of outstanding loans, and 495.38% of non-performing loans [2][42] - Non-performing loans totaled $4.4 million at June 30, 2024, a decrease from $8.5 million at March 31, 2024, and an increase from $3.8 million at June 30, 2023 [34] Deposits and Loans - Total deposits at June 30, 2024 were $1.6 billion, an increase of $22.4 million or 1.5% from March 31, 2024, and an increase of $7.0 million or 0.5% from June 30, 2023 [11] - Loans held for investment decreased by $20.3 million or 1.3% to $1.5 billion as of June 30, 2024 compared to March 31, 2024, and decreased by $64.7 million or 4.1% from June 30, 2023 [26] Non-Interest Income and Expenses - Total non-interest income for the second quarter 2024 was $4.0 million, an increase of $1.0 million or 32.3% from the prior quarter, and an increase of $2.4 million or 150.3% from the prior year quarter [10] - Total non-interest expense for the second quarter 2024 was $12.0 million, a decrease of $0.5 million or 4.3% from the prior quarter, and a decrease of $0.7 million or 5.4% from the prior year quarter [19] Capital and Efficiency Ratios - The efficiency ratio for the second quarter was 66.2%, compared to 70.8% in the prior quarter and 80.5% in the prior year quarter [25] - The company maintains a "well capitalized" regulatory capital position, with total risk-based capital to risk-weighted assets at 14.30% as of June 30, 2024 [37][41]

Core Viewpoint - Hawthorn Bancshares, Inc. has announced a quarterly cash dividend of $0.19 per common share, reflecting the company's ongoing commitment to returning value to its shareholders [2]. Group 1: Company Overview - Hawthorn Bancshares, Inc. is a financial-bank holding company based in Jefferson City, Missouri, and operates Hawthorn Bank with multiple locations across various Missouri communities [1]. Group 2: Dividend Announcement - The Board of Directors of Hawthorn Bancshares, Inc. approved a quarterly cash dividend of $0.19 per common share, which will be payable on October 1, 2024, to shareholders of record as of September 15, 2024 [2].