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Hawthorn Bancshares Inc. made the final move to complete its obligation to the U.S. Treasury's Troubled Asset Relief Program.
The Lee's Summit-based holding company (NASDAQ: HWBK) for Hawthorn Bank spent $540,000 to repurchase the warrant issued to the U.S. Treasury that gave them the right to purchase 287,134 shares of the company for $15.81 a share. The move means the U.S. government no longer has any ownership stake or ownership rights in Hawthorn Bancshares.
"We are pleased to have the transaction…
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 Hawthorn Bancshares Inc. posted a $1.6 million loss for the third quarter, mainly due to an increase in problem loans.
The loss for the Lee’s Summit-based holding company (Nasdaq: HWBK) of Hawthorn Bank was driven by a $2.7 million increase in its provision for loan losses and a 16.2 percent increase in non-interest expenses, which reached $10.34 million.
A year prior, the company reported earnings of $1.5 million, or 21 cents a share.
“2012 is proving to be a difficult economic environment…
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Hawthorn Bancshares Inc. saw second-quarter earnings dip because of responsibilities to the U.S. Treasury’s Troubled Asset Relief Program and declining interest income.
The Lee’s Summit-based holding company (Nasdaq: HWBK) for Hawthorn Bank posted second-quarter net income of $740,031, or 1 cent a share, down from $1.41 million, or 19 cents a share, a year earlier. The company deducted about $700,000 in accrued dividends related to the TARP program, up from $500,000 the previous year.
Hawthorn…
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Hawthorn Bancshares Inc.’s second-quarter earnings surged by 80 percent, thanks mainly to lower expenses tied to troubled loans.
The Lee’s Summit-based holding company (Nasdaq: HWBK) for Hawthorn Bank reported net income of $1.41 million, or 19 cents a share, compared with $782,466, or 6 cents a share, during the same period last year.
Interest income fell 9.7 percent to $13.64 million. Non-interest income slid 11 percent to $2.18 million.
However, those declines were offset by greater declines in interest and non-interest expenses...
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Hawthorn Bancshares Inc. posted a big improvement in first-quarter earnings, helped by a significant drop in interest expenses and in its provision for loan losses.
The Lee���s Summit-based holding company (Nasdaq: HWBK) for Hawthorn Bank posted net income of $464,715, or 10 cents a share, for the quarter that ended March 31, compared with income of $4,866, or less than 1 cent a share, during the same period last year.
Total interest income at the bank dropped 8.7 percent to $13.58 million, but interest expenses dropped 32 percent to...
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David Turner has begun his tenure as the new chairman and chief executive officer of Lee’s Summit-based Hawthorn Bancshares Inc. Turner took over on Friday in accordance with a succession plan the company outlined in September , when it announced that former Chairman and CEO James Smith would retire. Hawthorn Bancshares (NasdaqGS: HWBK) is the holding company for Hawthorn Bank. Turner, 54, also serves as chairman, CEO and president of Hawthorn Bank, positions he has held since 2002. He’s...
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