JEFFERSON CITY, Mo., June 07, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Hawthorn Bancshares, Inc. of Jefferson City, MO (NASDAQ: HWBK) announced that at the Company's June 4, 2024 Annual Meeting of Shareholders, Frank E. Burkhead, Brent M. Giles, Jonathan L. States and Gus S. Wetzel, III were re-elected as Class II directors to serve three-year terms expiring 2027. Other members of the 12-member Board include Gregg A. Bexten, Kathleen L. Bruegenhemke, Douglas T. Eden, Philip D. Freeman, Shawna M. H ...

Company Overview - Hawthorn Bancshares, Inc. is a financial-bank holding company headquartered in Jefferson City, Missouri, and is the parent company of Hawthorn Bank with multiple locations across Missouri [2]. Board of Directors - At the Annual Meeting of Shareholders on June 4, 2024, four directors were re-elected as Class II directors for three-year terms expiring in 2027: Frank E. Burkhead, Brent M. Giles, Jonathan L. States, and Gus S. Wetzel, III [6]. - The Board of Directors consists of 12 members, including Gregg A. Bexten, Kathleen L. Bruegenhemke, Douglas T. Eden, Philip D. Freeman, Shawna M. Hettinger, Jonathan D. Holtaway, Kevin L. Riley, and David T. Turner [1]. Advisory Directorate - The advisory directorate includes Charles G. Dudenhoeffer and Dr. Gus S. Wetzel, II [1]. Management - Brent M. Giles serves as the Chief Executive Officer and has been a director since 2023 [3]. - Frank E. Burkhead has been a director since 2014 and is co-owner of Burkhead & Associates, LLC [3]. - Jonathan L. States has been a director since 2022 and is a member/owner of Little Dixie Construction [3]. - Gus S. Wetzel, III has been a director since 2018 and owns Meadows Contracting, LLC and Meadows Development Company [3]. Financial Oversight - Shareholders approved the appointment of FORVIS, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024 [7].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______________ to ______________ Commission file number: 0-23636 HAWTHORN BANCSHARES, INC. (Exact name of registrant as specified in its charter) incorporatio ...

JEFFERSON CITY, Mo., April 24, 2024 (GLOBE NEWSWIRE) -- Hawthorn Bancshares, Inc. (NASDAQ:HWBK) announced today that its Board of Directors approved a quarterly cash dividend of $0.19 per common share, payable July 1, 2024 to shareholders of record at the close of business on June 15, 2024, which represents an increase of $0.02 per common share from the prior quarter's dividend. About Hawthorn Bancshares, Inc. Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Misso ...

JEFFERSON CITY, Mo., April 24, 2024 (GLOBE NEWSWIRE) -- Hawthorn Bancshares, Inc. (NASDAQ:HWBK), (the "Company"), the bank holding company for Hawthorn Bank, reported first quarter 2024 net income of $4.5 million and earnings per diluted share ("EPS") of $0.63. First Quarter 2024 Results Net income of $4.5 million, or $0.63 per diluted share, an increase of 34.0% per diluted share from the first quarter 2023 (the "prior year quarter")Net interest margin, fully taxable equivalent ("FTE") of 3.39%Return on av ...

Exhibit 99.1 Hawthorn Bancshares Reports First Quarter 2024 Results Jefferson City, MO — April 24, 2024 — Hawthorn Bancshares, Inc. (NASDAQ: HWBK), (the "Company"), the bank holding company for Hawthorn Bank, reported first quarter 2024 net income of $4.5 million and earnings per diluted share ("EPS") of $0.63. First Quarter 2024 Results Brent Giles, Chief Executive Officer of Hawthorn Bancshares, Inc. commented, "We are pleased with our first quarter results as we posted improvement in net income, efficien ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to _________________. Commission file number: 0-23636 (Address of principal executive of ices) (Zip Code) (573) 761-6100 (Registrant's telephone number, i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______________ to ______________ Commission file number: 0-23636 HAWTHORN BANCSHARES, INC. (Exact name of registrant as specified in its charter) incorpor ...

Financial Performance - Consolidated net income for Q2 2023 was $2.5 million, a decrease of $0.7 million (22.1%) from Q1 2023 and a decrease of $1.9 million (43.2%) from Q2 2022[190] - Earnings per diluted share for Q2 2023 were $0.36, compared to $0.47 in Q1 2023 and $0.64 in Q2 2022[190] - For the six months ended June 30, 2023, consolidated net income was $5.8 million, a decrease of $5.3 million (47.6%) from $11.1 million for the same period in 2022[191] - Non-interest income for Q2 2023 was $1.6 million, a decrease from $3.2 million in Q1 2023 and $3.6 million in Q2 2022[188] - Non-interest income for the second quarter 2023 was $1.6 million, a decrease of $1.6 million, or 49.8%, from the linked quarter, and a decrease of $2.1 million, or 56.3%, from the prior year quarter[194] Interest Income and Expenses - Net interest income for Q2 2023 was $14.2 million, an increase of $0.3 million from Q1 2023 but a decrease of $0.4 million from Q2 2022[192] - The net interest margin for Q2 2023 was 3.19%, compared to 3.16% in Q1 2023 and 3.64% in Q2 2022[192] - Net interest income for the six months ended June 30, 2023, was $28.2 million, a decrease of $0.6 million, or 2.1%, compared to $28.7 million for the same period in 2022[193] - Total interest income was $22.2 million for the three months ended June 30, 2023, compared to $16.7 million for the same period in 2022, reflecting an increase of 32.9%[216] - Interest income on loans held for investment rose to $20.2 million for the quarter ended June 30, 2023, up from $14.7 million for the same quarter in 2022, marking a 37.7% increase[217] - Total interest expense increased to $7.7 million for the three months ended June 30, 2023, compared to $1.6 million for the same period in 2022[223] Asset Quality - Non-performing loans as of June 30, 2023, were $3.8 million, representing 0.25% of total loans[189] - Total non-performing assets decreased to $10.3 million, or 0.66% of total loans, at June 30, 2023, compared to $27.5 million, or 1.81% of total loans, at December 31, 2022[256] - The allowance for credit losses to total loans was 1.42% at June 30, 2023, compared to 1.02% at December 31, 2022[199] - The allowance for credit and loan losses to loans was 1.42% as of June 30, 2023, compared to 1.02% as of December 31, 2022[255] - The company recognized a provision for credit losses of $0.7 million for the six months ended June 30, 2023, compared to a $1.3 million release of provision for loan losses for the same period in 2022[262] Deposits and Borrowings - Total deposits decreased $64.7 million, or 4.0%, to $1.5 billion as of June 30, 2023, compared to the end of the linked quarter[200] - Federal Home Loan Bank advances and other borrowings increased $71.3 million, or 76.6%, to $164.3 million as of June 30, 2023, compared to the end of the linked quarter[201] - The Company had $164.3 million in outstanding borrowings with the Federal Home Loan Bank (FHLB) as of June 30, 2023, compared to $98.0 million at the end of 2022, representing a 67.3% increase[276] Capital and Liquidity - Total stockholders' equity was $126.5 million, with a common equity to assets ratio of 6.65% at June 30, 2023[202] - As of June 30, 2023, the Company met all capital adequacy requirements with a total capital ratio of 13.99%, exceeding the minimum requirement of 10.50%[292] - The Company had a Tier 1 leverage ratio of 10.46% as of June 30, 2023, well above the minimum requirement of 4.00%[292] - Cash and cash equivalents decreased to $24.6 million at June 30, 2023, down from $83.7 million at December 31, 2022, a decline of 70.7%[280] Operational Efficiency - The efficiency ratio for Q2 2023 was 80.5%, compared to 72.84% in Q1 2023 and 63.38% in Q2 2022[188] - Non-interest expense for the second quarter 2023 was $12.7 million, an increase of $0.2 million, or 2.0%, from the linked quarter, and an increase of $1.2 million, or 10.3%, from the prior year quarter[196] - Total non-interest expense increased by $1.2 million, or 10.3%, to $12.7 million for the quarter ended June 30, 2023, compared to $11.5 million for the same quarter in 2022[237] Interest Rate Risk Management - The Company’s asset and liability management function aims to evaluate interest rate risk while maximizing earnings and maintaining liquidity and capital[294] - A hypothetical 200 basis point increase in interest rates would result in a projected net interest income increase of 0.63% as of June 30, 2023, compared to 3.01% as of December 31, 2022[298] - A 100 basis point increase in interest rates would lead to a projected net interest income increase of 2.01% as of June 30, 2023, down from 3.78% as of December 31, 2022[298] - The Company’s balance sheet is liability sensitive, meaning interest rate decreases lead to higher net interest income[298] - Management believes the change in projected net interest income from interest rate shifts of up to 200 basis points is an acceptable level of interest rate risk[298]

Financial Performance - Consolidated net income for Q1 2023 was $3.3 million, a decrease of $1.5 million (30.8%) from Q4 2022 and a decrease of $3.3 million (50.5%) from Q1 2022[186]. - Basic and diluted earnings per share for Q1 2023 were both $0.48, down from $0.70 in Q4 2022 and $0.97 in Q1 2022[186]. - The efficiency ratio for Q1 2023 was 72.84%, compared to 69.46% in Q4 2022 and 68.42% in Q1 2022[183]. - Return on average assets for Q1 2023 was 0.70%, down from 1.01% in Q4 2022 and 1.51% in Q1 2022[186]. Income and Expenses - Net interest income for Q1 2023 was $13.9 million, down $1.0 million from Q4 2022 and down $0.2 million from Q1 2022; net interest margin decreased to 3.16% from 3.43% in Q4 2022 and 3.50% in Q1 2022[187]. - Non-interest income for Q1 2023 was $3.2 million, an increase of $0.1 million (2.0%) from Q4 2022 but a decrease of $0.5 million (14.6%) from Q1 2022[188]. - Total non-interest expense increased by $0.3 million, or 2.1%, to $12.5 million for the three months ended March 31, 2023, compared to $12.2 million for the same period in 2022[221]. - Salaries increased by $0.3 million, or 6.4%, to $5.5 million for the three months ended March 31, 2023, compared to $5.2 million for the same period in 2022[221]. Loans and Deposits - Total deposits decreased by $24.1 million (1.5%) to $1.6 billion at the end of Q1 2023 compared to Q4 2022, but increased by $151.9 million (10.4%) year-over-year[194]. - Loans held for investment increased by $20.8 million (1.4%) to $1.5 billion at the end of Q1 2023 compared to Q4 2022, and increased by $208.2 million (15.6%) year-over-year[192]. - Average loans outstanding increased by $207.1 million, or 15.7%, to $1.52 billion for the three months ended March 31, 2023[207]. - Core deposits totaled $1.4 billion at March 31, 2023, representing 86.6% of the Company's total deposits[253]. Asset Quality - Non-performing loans totaled $19.6 million at the end of Q1 2023, an increase of $0.9 million from Q4 2022 and an increase of $2.5 million from Q1 2022[193]. - The allowance for credit losses to total loans was 1.43% at March 31, 2023, compared to 1.02% at December 31, 2022, and 1.07% at March 31, 2022[193]. - Total non-performing assets were $27.8 million, or 1.81% of total loans, as of March 31, 2023, compared to $27.5 million, or 1.81% at December 31, 2022[237]. - The provision for credit losses was $0.7 million for the three months ended March 31, 2023, compared to a release of provision for loan losses of $2.5 million for the same period in 2022[243]. Capital and Liquidity - Total stockholders' equity was $128.4 million, with a common equity to assets ratio of 6.77% at the end of the current quarter, compared to 6.62% in the linked quarter and 7.74% in the prior-year quarter[195]. - Regulatory capital ratios remain "well-capitalized," with a tier 1 leverage ratio of 10.43% and a total risk-based capital ratio of 13.81% at the end of the current quarter[195]. - As of March 31, 2023, the Company met all capital adequacy requirements with a total capital ratio of 13.81%, exceeding the minimum required ratio of 10.50%[272]. - Cash and cash equivalents decreased by $49.9 million, from $83.7 million at December 31, 2022, to $33.8 million at March 31, 2023[261]. Interest Rate Risk Management - The Company employs risk management policies to monitor and limit interest rate risk exposure, utilizing net interest income simulations and market value analyses[273]. - The Asset and Liability Management Committee (ALCO) meets monthly to review the sensitivity of the Company's assets and liabilities to interest rate changes and market conditions[274]. - A hypothetical 200 basis point increase in interest rates would result in a projected net interest income increase of 0.58% as of March 31, 2023, compared to 3.01% as of December 31, 2022[278]. - The Company’s interest rate risk exposure changed primarily due to a shift in the profile of funding sources from customer deposits to fixed-rate funding[278]. Economic Environment - Inflation has a limited impact on the Company's operations, with management stating it did not significantly affect operations for the three months ended March 31, 2023[282]. - Management acknowledges that actual results may differ from projections due to various factors, including market conditions and timing of rate changes[279].