HAWTHORN BANCSHARES, INC.

Listed Company

HWBKCIK 0000893847NasdaqAcceleratedSmaller ReportingNational Commercial BanksMissouriFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$23.80M

Total Assets

$1.89B

Equity

$174.23M

Shares Out

6.90M

Op. Cash Flow

$26.92M

Business

HAWTHORN BANCSHARES, INC. is a bank holding company and financial holding company that owns Hawthorn Bank and other subsidiaries and conducts banking and related financial activities. The company offers checking and savings accounts, internet banking, debit cards, certificates of deposit, trust and brokerage services, safety deposit boxes, and a broad range of lending products including commercial, consumer and real estate loans; it also holds mortgage loans through HB Realty and nonperforming assets through Hawthorn Real Estate, LLC. Its principal business units include Hawthorn Bank, Hawthorn Real Estate, LLC and HB Realty (with a formerly operated captive insurance subsidiary dissolved in 2023). The company serves customers primarily in Missouri through 18 banking offices, online channels and trust/brokerage distribution.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	88	86	84	63	59
Interest and fees on loans held for sale	25,000	84,000	160,000	90,000	102,000
Taxable	5	4	3	3	3
Nontaxable	2	2	2	2	2
Other interest-bearing deposits and certificates of deposit in other banks	1	2	1	419,000	—
Dividends on other investments	421,000	563,000	441,000	270,000	301,000
Total interest income	98	95	92	69	64
Savings, interest checking and money market	16	19	17	5	1
Time deposits	10	11	9	2	1
Total interest expense on deposits	26	30	26	7	3
Interest on federal funds purchased and securities sold under agreements to repurchase	3,000	0	115,000	51,000	87,000
Interest on Federal Home Loan Bank advances	2	3	3	1	1
Interest on subordinated notes	3	4	4	2	1
Total interest expense on borrowings	6	7	7	3	3
Total interest expense	32	37	33	10	—
Net interest income	66	59	59	59	59
Provision for credit losses on loans	263,000	1	3	−900,000	—
Provision for (release of) credit losses on unfunded commitments	97,000	2,000	−325,000	−900,000	−2
Total provision for credit losses on loans and unfunded commitments	360,000	1	2	—	—
Net interest income after provision for credit losses on loans and unfunded commitments	66	58	57	60	60
Earnings on bank-owned life insurance	2	2	57,000	58,000	—
Gain on sale of mortgage loans, net	448,000	896,000	3	3	7
(Losses) gains on other real estate owned and other assets, net	−156,000	883,000	−4	289,000	—
Other	2	2	993,000	1	2
Total non-interest income	14	14	8	14	17
Investment securities gains (losses), net	117,000	−4,000	−12	−14,000	149,000
Salaries and employee benefits	28	27	29	27	28
Occupancy expense, net	4	3	3	3	3
Furniture and equipment expense	3	3	3	3	3
Processing, network, and bank card expense	6	6	5	5	5
Legal, examination, and professional fees	2	3	3	2	3
Advertising and promotion	1	976,000	2	2	1
Postage, printing, and supplies	1	910,000	846,000	878,000	838,000
Other	7	7	7	6	5
Total non-interest expense	51	50	52	49	49
Income before income taxes	29	22	432,000	25	28
Income tax expense (benefit)	5	4	−524,000	4	6
Net income	24	18	956,000	21	23
Basic earnings per share (in dollars per share)	3.44	2.61	0.14	2.94	3.15
Diluted earnings per share (in dollars per share)	3.43	2.61	0.14	2.94	3.15

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	17	24	16	19	17
Other interest-bearing deposits	88	27	78	65	136
Cash and cash equivalents	104	51	93	84	160
Certificates of deposit in other banks	1	1	0	3	5
Available-for-sale debt securities, at fair value (cost of $230,939 and $249,558, respectively)	210	219	189	251	311
Other investments	6	5	6	6	5
Loans held for investment	1,487	1,466	1,539	1,521	1,302
Allowance for credit losses	−21	−22	−24	−16	−17
Net loans	1,466	1,444	1,515	1,506	1,285
Loans held for sale	600,000	0	4	600,000	2
Premises and equipment, net	30	31	32	33	33
Premises and equipment held for sale, net	4	0	—	—	—
Other real estate owned, net	98,000	1	2	9	11
Cash surrender value bank-owned life insurance	40	39	3	3	3
Accrued interest receivable and other assets	33	34	31	—	—
Total assets	1,895	1,825	1,875	1,924	1,832
Non-interest bearing demand	424	385	402	453	453
Savings, interest checking and money market	827	846	846	924	818
Time deposits	304	302	322	160	176
Total deposits	1,554	1,533	1,571	1,632	1,517
Federal Home Loan Bank advances and other borrowings	102	82	—	—	—
Subordinated notes	50	50	50	50	50
Operating lease liabilities	3	2	1	2	2
Finance lease liabilities	1	0	—	—	—
Accrued interest payable and other liabilities	11	10	11	—	—
Total liabilities	1,721	1,676	1,739	1,796	1,683
Common stock, $1 par value, authorized 15,000,000 shares; issued 7,554,893 shares	8	8	8	7	7
Surplus	77	77	77	71	64
Retained earnings	108	90	76	92	82
Accumulated other comprehensive loss, net of tax	−4	−12	−14	−32	3
Treasury stock; 653,633, and 566,268 shares, at cost, respectively	−14	−12	−11	−11	−8
Total stockholders equity	174	150	136	127	149
Total liabilities and stockholders equity	1,895	1,825	1,875	1,924	1,832

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses on loans and unfunded commitments	360,000	1	2	−900,000	−2
Depreciation expense	2	2	2	2	2
Net amortization of investment securities, premiums, and discounts	389,000	789,000	1	1	2
Change in fair value of mortgage servicing rights	0	68,000	1	−176,000	186,000
(Gains) losses on sales and dispositions of premises and equipment	−63,000	199,000	−133,000	−160,000	29,000
Losses (gains) on sales and dispositions of other real estate & repossessed assets	197,000	−747,000	−298,000	−255,000	−27,000
Gain on cancellation of debt	−14,000	0	0	—	—
Proceeds from the sale of mortgage servicing rights	0	2	0	0	—
(Release of) provision for other real estate owned	−41,000	−127,000	5	−29,000	—
Share-based compensation expense	392,000	184,000	42,000	0	0
Increase in cash surrender value - life insurance	−2	−1	−57,000	−58,000	−58,000
Decrease (increase) in other assets	1	1	−6	−3	−2
Decrease in operating lease liabilities	−347,000	−258,000	−320,000	−304,000	−300,000
Increase (decrease) in other liabilities	1	−1	3	−902,000	5
Origination of mortgage loans held for sale	−11	−44	−107	−83	−197
Proceeds from the sale of mortgage loans held for sale	11	49	106	87	207
Net cash provided by operating activities	27	26	18	20	30
Purchase of certificates of deposit in other banks	−1	−1	0	−735,000	−245,000
Proceeds from maturities of certificates of deposit in other banks	1	0	2	3	4
Purchase of bank-owned life insurance	0	−35	0	0	—
Net (increase) decrease in loans	−22	67	−18	−220	−15
Purchase of available-for-sale debt securities	−21	−57	−30	−21	−179
Proceeds from maturities of available-for-sale debt securities	29	11	24	31	38
Proceeds from calls of available-for-sale debt securities	10	12	615,000	2	17
Proceeds from sales of available-for-sale debt securities	0	0	75	0	5
Purchases of FHLB stock	−100	−931,000	−15	−13	−362,000
Proceeds from sales of FHLB stock	99	2	15	12	1
Purchases of premises and equipment	−4	−3	−2	−3	−591,000
Proceeds from sales of premises and equipment	114,000	425,000	172,000	317,000	46,000
Proceeds from sales of other real estate and repossessed assets	1	6	3	2	2
Net cash provided by (used in) investing activities	−7	1	54	−207	−128
Net increase (decrease) in demand deposits	39	−17	−51	377,000	71
Net decrease in interest-bearing transaction accounts	−19	−113,000	−77	105	95
Net increase (decrease) in time deposits	2	−20	67	10	−32
Net decrease in federal funds purchased and securities sold under agreements to repurchase	0	0	−5	−19	−21
Repayment of FHLB advances and other borrowings	−40	−36	−16	−315	−29
Proceeds from FHLB advances	575,000	10	30	336	0
Net increase (decrease) in short term FHLB borrowings	60	525,000	−5	—	—
Purchase of treasury stock	−3	−1	0	−3	−2
Cash dividends paid - common stock	−5	−5	−5	−4	−4
Net cash provided by (used in) financing activities	33	−69	−62	110	77
Net increase (decrease) in cash and cash equivalents	53	−42	10	−76	−20
Interest	32	37	32	10	6
Income taxes	3	3	2	4	5
Other real estate and repossessed assets acquired in settlement of loans	0	4	71,000	—	—
Right of use assets obtained in exchange for new operating lease liabilities	1	723,000	0	0	0
Right of use assets obtained in exchange for new finance lease liabilities	1	0	0	—	—
Stock dividends	0	0	6	7	—

Filings

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