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 ...

OR 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 June 30, 2023 ☐ 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) incorporation ...

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].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (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, 2022 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 HAWTHORN BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or ...

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, 2022 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 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. FORM 10-Q (Exact name of registrant as specified in its charter) incorporation ...

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, 2022 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 ...