Hawthorn Bancshares, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Hawthorn Bancshares, Inc. has filed its 2023 annual report on Form 10-K, detailing its financial performance and operations for the year ended December 31, 2023.</b>

AI Summary

HAWTHORN BANCSHARES, INC. (HWBK) filed a Annual Report (10-K) with the SEC on March 18, 2024. Hawthorn Bancshares, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is national commercial banking. The filing was submitted on March 18, 2024. The company was formerly known as Exchange National Bancshares Inc.

Why It Matters

For investors and stakeholders tracking HAWTHORN BANCSHARES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Hawthorn Bancshares' financial health, operational activities, and strategic positioning for the fiscal year 2023, which is crucial for investors and stakeholders to assess the company's performance and future outlook. As a national commercial bank, the information contained within this filing is vital for understanding the regulatory environment, market conditions, and specific financial metrics that impact the banking sector and Hawthorn Bancshares' operations.

Risk Assessment

Risk Level: low — HAWTHORN BANCSHARES, INC. shows low risk based on this filing. The risk is low as this is a standard annual filing (10-K) providing historical financial data and business overview, without immediate indications of significant new risks or negative trends.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Hawthorn Bancshares' performance and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-18 — Filing Date (Filed as of date)
• 1994-03-23 — Date of Name Change (Former company name date)

Key Players & Entities

• HAWTHORN BANCSHARES, INC. (company) — Filer name
• HWBK (company) — Ticker symbol
• 20231231 (date) — Conformed period of report
• 20240318 (date) — Filed as of date
• EXCHANGE NATIONAL BANCSHARES INC (company) — Former company name
• MO (location) — State of incorporation

FAQ

Industry Context

Hawthorn Bancshares, Inc. operates within the national commercial banking sector, providing a range of financial services.

Regulatory Implications

As a commercial bank, the company is subject to regulations from various financial authorities, including the SEC, and adheres to specific accounting standards for financial reporting.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the fiscal year ended December 31, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Identify any new risk factors or changes in existing risks disclosed in the filing.

Key Dates

• 2023-12-31: Fiscal Year End — The end date for the reporting period covered by the 10-K.
• 2024-03-18: Filing Date — The date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, providing the core financial and operational data for the fiscal year.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period for which the financial results in the 10-K are reported.)

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available within this data.

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value HWBK The Nasdaq Stock Market
• $17.95 — affiliates computed by reference to the $17.95 closing price of such common equity on
• $404,665,296 — an approximate aggregate book value of $404,665,296. As of December 31, 2023, the approxima
• $563,150,351 — he mortgage loans held by HB Realty was $563,150,351. Effective September 30, 2022, to compl
• $30 — rally entitled to an annual dividend of $30 and a liquidation amount of $500. Altho
• $500 — dend of $30 and a liquidation amount of $500. Although dividends are not guaranteed,
• $15 billion — d loan holding companies with less than $15 billion in assets as of December 31, 2009 or by
• $10 billion — total consolidated assets of less than $10 billion; total off-balance sheet exposures (ex

Filing Documents

• hwbk-20231231.htm (10-K) — 688KB
• a2023q4ex101changeofcontro.htm (EX-10.1) — 97KB
• hwbk-20231231_d2.htm (EX-13) — 3757KB
• a2023q4ex21.htm (EX-21) — 7KB
• a2023q4ex23.htm (EX-23) — 2KB
• a2023q4ex311.htm (EX-31.1) — 8KB
• a2023q4ex312.htm (EX-31.2) — 8KB
• a2023q4ex321.htm (EX-32.1) — 4KB
• a2023q4ex322.htm (EX-32.2) — 4KB
• a2023q4ex971policyforthere.htm (EX-97.1) — 46KB
• hwbk-20231231_g1.jpg (GRAPHIC) — 5KB
• hwbk-20231231_g2.jpg (GRAPHIC) — 47KB
• 0000893847-24-000002.txt (&nbsp;) — 21896KB
• hwbk-20231231.xsd (EX-101.SCH) — 91KB
• hwbk-20231231_cal.xml (EX-101.CAL) — 223KB
• hwbk-20231231_def.xml (EX-101.DEF) — 551KB
• hwbk-20231231_lab.xml (EX-101.LAB) — 1110KB
• hwbk-20231231_pre.xml (EX-101.PRE) — 905KB
• hwbk-20231231_htm.xml (XML) — 4930KB

. Business

Item 1 . Business . This report and the documents incorporated by reference herein contain forward-looking statements, which are inherently subject to risks and uncertainties. See "Forward Looking Statements" under Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, of this report. General Hawthorn Bancshares, Inc. (the "Company"), is a bank holding company registered under the Bank Holding Company Act of 1956, as amended (the "Bank Holding Company Act"). The Company was incorporated under the laws of the State of Missouri on October 23, 1992 as Exchange National Bancshares, Inc. and changed its name to Hawthorn Bancshares, Inc. in August 2007. The Company owns all of the issued and outstanding capital stock of Hawthorn Bank. The Company received approval from the Federal Reserve and elected to become a financial holding company on October 21, 2001. The Company acquired Hawthorn Bank and its constituent predecessor banks, as well as Union State Bancshares ("Union"), in a series of transactions that are summarized as follows: On April 7, 1993 the Company acquired all of the issued and outstanding capital stock of The Exchange National Bank of Jefferson City, a national banking association, pursuant to a corporate reorganization involving an exchange of shares; On November 3, 1997, the Company acquired Union, and Union's wholly-owned subsidiary, Union State Bank and Trust of Clinton; On January 3, 2000, the Company acquired Osage Valley Bank; Following the May 4, 2000 acquisition of Citizens State Bank of Calhoun by Union State Bank and Trust of Clinton, Citizens State Bank of Calhoun merged into Union State Bank and Trust of Clinton to form Citizens Union State Bank & Trust; On June 16, 2000, the Company acquired City National Savings Bank, FSB, which was then merged into The Exchange National Bank of Jefferson City; and On May 2, 2005, the Company acquired all of the issued and outstanding capital stock of Bank 10

View Full Filing

View this 10-K filing on SEC EDGAR