Hawthorn Bancshares, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Hawthorn Bancshares, Inc. has filed its Q1 2024 10-Q report, detailing its financial performance and operational status.</b>

AI Summary

HAWTHORN BANCSHARES, INC. (HWBK) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Hawthorn Bancshares, Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal business address is 132 East High Street, Jefferson City, MO 65101. The mail address is P.O. Box 688, Jefferson City, MO 65102. Hawthorn Bancshares, Inc. was formerly known as Exchange National Bancshares Inc., with a name change on March 23, 1994.

Why It Matters

For investors and stakeholders tracking HAWTHORN BANCSHARES, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data for Hawthorn Bancshares, Inc., crucial for assessing the bank's performance and stability. Understanding the details within this report allows stakeholders to evaluate the company's financial health, strategic direction, and potential risks in the current economic climate.

Risk Assessment

Risk Level: low — HAWTHORN BANCSHARES, INC. shows low risk based on this filing. The risk is low as this is a standard quarterly filing (10-Q) for a publicly traded company, providing routine financial disclosures without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance trends and outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 6021 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• MO — State of Incorporation (STATE OF INCORPORATION)
• 1231 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• HAWTHORN BANCSHARES, INC. (company) — FILER
• HWBK (company) — Ticker Symbol
• 10-Q (filing) — FORM TYPE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-09 (date) — FILED AS OF DATE
• 132 EAST HIGH STREET (address) — BUSINESS ADDRESS
• JEFFERSON CITY (location) — BUSINESS ADDRESS CITY
• MO (location) — BUSINESS ADDRESS STATE

FAQ

Industry Context

Hawthorn Bancshares, Inc. operates within the National Commercial Banks industry (SIC 6021). This sector is characterized by deposit-taking, lending, and other financial services.

Regulatory Implications

As a publicly traded bank holding company, Hawthorn Bancshares, Inc. is subject to regulations from the Securities and Exchange Commission (SEC) and banking authorities.

What Investors Should Do

1. Analyze the balance sheet and income statement for Q1 2024.
2. Review any disclosures regarding changes in financial condition or significant events.
3. Compare Q1 2024 performance to previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the first 10-Q for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $1.00 — ange on which registered Common Stock, $1.00 par value HWBK The Nasdaq Stock Market
• $250,000 — y market 789,772 846,452 Time deposits $250,000 and over 100,306 108,147 Other time de

Filing Documents

• hwbk-20240331.htm (10-Q) — 2785KB
• a2024q1ex311.htm (EX-31.1) — 10KB
• a2024q1ex312.htm (EX-31.2) — 10KB
• a2024q1ex321.htm (EX-32.1) — 5KB
• a2024q1ex322.htm (EX-32.2) — 5KB
• 0000893847-24-000011.txt (&nbsp;) — 14127KB
• hwbk-20240331.xsd (EX-101.SCH) — 52KB
• hwbk-20240331_cal.xml (EX-101.CAL) — 125KB
• hwbk-20240331_def.xml (EX-101.DEF) — 336KB
• hwbk-20240331_lab.xml (EX-101.LAB) — 770KB
• hwbk-20240331_pre.xml (EX-101.PRE) — 589KB
• hwbk-20240331_htm.xml (XML) — 3399KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements HAWTHORN BANCSHARES, INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands, except per share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Cash and due from banks $ 15,273 $ 15,675 Other interest-bearing deposits 28,225 77,775 Cash and cash equivalents 43,498 93,450 Available-for-sale debt securities, at fair value 183,454 188,742 Other investments 6,287 6,300 Total investment securities 189,741 195,042 Loans held for investment 1,518,853 1,539,147 Allowance for credit losses ( 23,675 ) ( 23,744 ) Net loans 1,495,178 1,515,403 Loans held for sale, at lower of cost or fair value 2,909 3,884 Premises and equipment - net 31,861 32,047 Other real estate owned - net 1,937 1,744 Accrued interest receivable 9,017 8,661 Cash surrender value - life insurance 37,760 2,624 Other assets 21,859 22,495 Total assets $ 1,833,760 $ 1,875,350 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing demand $ 392,588 $ 402,241 Savings, interest checking and money market 789,772 846,452 Time deposits $250,000 and over 100,306 108,147 Other time deposits 245,208 214,004 Total deposits 1,527,874 1,570,844 Federal Home Loan Bank advances and other borrowings 109,000 107,000 Subordinated notes 49,486 49,486 Operating lease liabilities 1,163 1,213 Accrued interest payable 1,971 1772 Liability for unfunded commitments 717 947 Other liabilities 6,929 8,003 Total liabilities 1,697,140 1,739,265 Stockholders' equity: Common stock, $ 1.00 par value, authorized 15,000,000 shares; issued 7,554,893 shares 7,555 7,555 Surplus 76,847 76,818 Retained earnings 79,725 76,464 Accumulated other comprehensive loss, net of tax ( 16,103 ) ( 13,762 ) Treasury stock; 536,565 and 515,570 shares, at cost, respectively ( 11,404 ) ( 10,990 ) Total stockholders' equity 136,620 136,085 Total liabilities and stockholders' equity $ 1,833,760 $ 1,875,350 See accompanying notes to the consolidated financial s

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View this 10-Q filing on SEC EDGAR