# EDGAR Filing Document

**Accession Number:** 0000893847
**File Stem:** 0000893847-25-000033
**Filing Date:** 2025-7
**Character Count:** 23899
**Document Hash:** 9776ae0b8e25e734b95c857f928198dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000893847-25-000033.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0000893847-25-000033

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250730

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HAWTHORN BANCSHARES, INC.
- **CENTRAL INDEX KEY:** 0000893847
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 431626350
- **STATE OF INCORPORATION:** MO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-23636
- **FILM NUMBER:** 251166044

**BUSINESS ADDRESS:**
- **STREET 1:** 132 EAST HIGH STREET
- **CITY:** JEFFERSON CITY
- **STATE:** MO
- **ZIP:** 65101
- **BUSINESS PHONE:** (573)761-6100

**MAIL ADDRESS:**
- **STREET 1:** P. O. BOX 688
- **CITY:** JEFFERSON CITY
- **STATE:** MO
- **ZIP:** 65102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXCHANGE NATIONAL BANCSHARES INC
- **DATE OF NAME CHANGE:** 19940323

?xml version='1.0' encoding='ASCII'? hwbk-20250730

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549** 

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 30, 2025**

**Hawthorn Bancshares, Inc.**

**(Exact Name of Registrant as Specified in Charter)** 

---

| | | |
|:---|:---|:---|
| **Missouri** | **0-23636** | **43-1626350** |
| *(State or Other Jurisdiction*<br>*of Incorporation)* | *(Commission*<br>*File Number)* | (IRS Employer<br>Identification No.) |

---

**132 East High Street, PO Box 688, Jefferson City, Missouri 65102**<br>**(Address of Principal Executive Offices) (Zip Code)**<br>

**573-761-6100**

*(Registrant's telephone number, including area code)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $1.00 par value | HWBK | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02 Results of Operations and Financial Condition.**

On July 30, 2025, Hawthorn Bancshares, Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2025. A copy of the press release is attached to this report as Exhibit 99.1.

The information set forth in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being "furnished" and shall not be deemed "filed" for the purposes of or otherwise subject to liabilities under Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed to be incorporated by reference into the filings of Hawthorn Bancshares, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

**Item 8.01 Other Events.**

On July 30, 2025, Hawthorn Bancshares, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.20 per common share, payable October 1, 2025 to shareholders of record at the close of business on September 15, 2025. A copy of the press release relating to such announcement is attached to this report as Exhibit 99.2.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| **<u>Exhibit No</u>** | **<u>Description</u>** |
| **99.1** | <u>[Press release, dated](q22025earnings-ex991625.htm)[July](q22025earnings-ex991625.htm)[30, 2025, issued by Hawthorn Bancshares, Inc. announcing its financial results for the three](q22025earnings-ex991625.htm)[and six](q22025earnings-ex991625.htm)[months ended](q22025earnings-ex991625.htm)[June](q22025earnings-ex991625.htm)[3](q22025earnings-ex991625.htm)[0](q22025earnings-ex991625.htm)[, 2025.](q22025earnings-ex991625.htm)</u> |
| **99.2** | <u>[Press release, dated](q22025div-ex992625.htm)[July](q22025div-ex992625.htm)[30, 2025, issued by Hawthorn Bancshares, Inc. announcing cash dividends.](q22025div-ex992625.htm)</u> |
| **104** | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| Dated: July 30, 2025 | **Hawthorn Bancshares, Inc.**<br>By: <u>/s/</u> **<u>Brent M. Giles</u>** <br>*&nbsp;&nbsp;&nbsp;&nbsp; Name:* ***Brent M. Giles***<br>*&nbsp;&nbsp;&nbsp;&nbsp; Title:* ***Chief Executive Officer*** |

---

## Exhibit 99.1

**Exhibit 99.1**

![logo2024.jpg](logo2024.jpg)

**Hawthorn Bancshares Reports Second Quarter 2025 Results**

 **Jefferson City, MO — July 30, 2025** — Hawthorn Bancshares, Inc. **(NASDAQ: HWBK)**, (the "Company"), the bank holding company for Hawthorn Bank, reported second quarter 2025 net income of $6.1 million, or earnings per diluted share ("EPS") of $0.88.

**Second Quarter 2025 Results**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net income improved $1.5 million, or 31.8%, to $6.1 million from the second quarter 2024 (the "prior year quarter") and the efficiency ratio improved to 62.32% compared to 66.24% for the prior year quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• EPS of $0.88, an improvement of $0.22 per share, or 33%, from the prior year quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Net interest margin, fully taxable equivalent ("FTE") improved in the second quarter 2025 to 3.89% compared to 3.67% for first quarter 2025 (the "prior quarter")**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Provision for credit losses were $0.3 million higher than the prior quarter and $0.5 million lower than the prior year quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Return on average assets and equity of 1.36% and 15.85%, respectively**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Loans decreased $7.4 million, or 0.5%, and deposits decreased $25.9 million, or 1.7%, compared to the prior quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Investments increased $2.8 million, or 1.2%, compared to the prior quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Credit quality remained strong with non-performing assets to total loans of 0.35% improving from 0.54% in the prior year quarter**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Remained well capitalized with total risk-based capital of 15.12%**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Book Value per share increased $2.83 to $22.53, or 14.3%, compared to the prior year quarter**

**Brent Giles, Chief Executive Officer of Hawthorn Bancshares, Inc. commented,** "As a team, during the second quarter, I am proud of what we accomplished towards our strategic goals. The contributions across the Bank truly embodied our "One Hawthorn" spirit. I am also pleased with our financial results for the second quarter. Managing our net interest margin in highly competitive markets and controlling expenses were top initiatives during the quarter. Our strong results reflect the focus on these areas."

------

*<u>(unaudited)</u>*

*<u>$000, except per share data</u>*

---

| | | | |
|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **June 30,**<br>**2024** |
| **Balance sheet information** |  |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $1877417 | $1883423 | $1847810 |
| &nbsp;&nbsp;&nbsp;Loans held for investment | 1462898 | 1470323 | 1498504 |
| &nbsp;&nbsp;&nbsp;Investment securities | 229392 | 226581 | 191159 |
| &nbsp;&nbsp;&nbsp;Deposits | 1517986 | 1543888 | 1550250 |
| &nbsp;&nbsp;&nbsp;Total stockholders' equity | $156823 | $153411 | $138241 |
| **Market and per share data** |  |  |  |
| &nbsp;&nbsp;&nbsp;Book value per share | $22.53 | $21.97 | $19.71 |
| &nbsp;&nbsp;&nbsp;Market price per share | $29.14 | $28.23 | $19.80 |
| &nbsp;&nbsp;Diluted earnings per share (QTR) | $0.88 | $0.77 | $0.66 |

---

**Financial Results for the Second Quarter**

**Earnings** 

Net income for the second quarter 2025 was $6.1 million, an increase of $0.7 million, or 13.3%, from the prior quarter, and an increase of $1.5 million, or 31.8%, from the prior year quarter. EPS improved to $0.88 for the second quarter 2025 compared to $0.77 for the prior quarter and $0.66 for the prior year quarter.

Net income for the six months ended June 30, 2025 was $11.5 million, or $1.65 per diluted share, an increase of $2.4 million compared to $9.1 million, or $1.29 per diluted share, for the six months ended June 30, 2024.

**Net Interest Income and Net Interest Margin**

Net interest income for the second quarter 2025 was $16.1 million, an increase of $0.8 million from the prior quarter, and an increase of $2.0 million from the prior year quarter. Net interest income for the six months ended June 30, 2025 was $31.4 million, an increase of $2.5 million compared to $28.9 million for the six months ended June 30, 2024.

Interest income increased $0.4 million in the current quarter compared to the prior year quarter, driven primarily by higher rates on earning assets, while interest expense decreased $1.6 million compared to the prior year quarter due to lower costs on deposits. Net interest margin, on an FTE basis, was 3.89% for the current quarter, compared to 3.67% for the prior quarter, and 3.33% for the prior year quarter.

The yield earned on average loans held for investment increased to 5.98%, on an FTE basis, for the second quarter 2025, compared to 5.89% for the prior quarter and 5.75% for the prior year quarter.

The average cost of deposits was 2.35% for the second quarter 2025, compared to 2.44% for the prior quarter and 2.69% for the prior year quarter. Non-interest bearing demand deposits as a percent of total deposits was 27.7% as of June 30, 2025, compared to 27.7% and 25.9% at March 31, 2025 and June 30, 2024, respectively.

------

**Non-interest Income**

Total non-interest income for the second quarter 2025 was $3.5 million, an increase of $0.1 million, or 2.4%, from the prior quarter, and a decrease of $0.5 million, or 11.3%, from the prior year quarter. Non-interest income was consistent at $7.0 million for both the six months ended June 30, 2025 and 2024, respectively.

**Non-interest Expense**

Total non-interest expense for the second quarter 2025 was $12.3 million, a decrease of $0.2 million, or 1.8%, from the prior quarter, and an increase of $0.2 million, or 2.0%, from the prior year quarter. For the six months ended June 30, 2025, non-interest expense was $24.8 million, an increase of $0.2 million as compared to $24.6 million for the six months ended June 30, 2024.

The second quarter 2025 efficiency ratio was 62.32% compared to 66.64% and 66.24% for the prior quarter and prior year quarter, respectively. The improvement in the current quarter compared to the prior quarter was primarily due to higher net interest margin and lower non-interest expenses in the current quarter.

**Loans**

Loans held for investment decreased $7.4 million, or 0.5%, to $1.5 billion as of June 30, 2025 compared to March 31, 2025, and decreased $35.6 million, or 2.4% annualized, from June 30, 2024.

**Investments**

Investments increased $2.8 million, or 1.2%, to $229.4 million as of June 30, 2025 compared to March 31, 2025, and increased $38.2 million, or 20.0%, from June 30, 2024.

**Asset Quality**

Non-performing assets to total loans was 0.35% at June 30, 2025, compared to 0.21% and 0.54% at March 31, 2025 and June 30, 2024, respectively. Non-performing assets totaled $5.2 million at June 30, 2025, compared to $3.1 million and $8.1 million at March 31, 2025 and June 30, 2024, respectively. The increase in non-performing assets in the current quarter compared to the prior quarter was the result of the Company closing an operational center and moving the property to other real estate owned.

In the second quarter 2025, the Company had net loan charge-offs of $0.05 million, or 0.01% annualized, of average loans, compared to net loan charge-offs of $0.02 million, or 0.00% of average loans, and $1.98 million, or 0.53% annualized, of average loans, in the prior quarter and prior year quarter, respectively.

The Company released provision for credit losses of $0.1 million for the second quarter 2025 compared to a release of provision of $0.3 million in the prior quarter, and providing a provision of $0.5 million for the prior year quarter.

The allowance for credit losses at June 30, 2025 was $21.6 million, or 1.47% of outstanding loans, and 781.24% of non-performing loans. At March 31, 2025, the allowance for credit losses was $21.8 million, or 1.48% of outstanding loans, and 885.01% of non-performing loans. At June 30, 2024, the allowance for credit losses was $22.0 million, or 1.47% of outstanding loans, and 495.38% of non-performing loans. The allowance for credit losses represents management's best estimate of expected losses inherent in the loan portfolio and is

------

commensurate with risks in the loan portfolio as of June 30, 2025 as determined by management.

**Deposits**

Total deposits at June 30, 2025 were $1.5 billion, a decrease of $25.9 million, or 1.7%, from March 31, 2025, and a decrease of $32.3 million, or 2.1% annualized, from June 30, 2024. The decrease in deposits at June 30, 2025 as compared to June 30, 2024 was primarily a result of an decrease in savings, interest checking and money market accounts.

**Capital** 

The Company maintains its "well capitalized" regulatory capital position. At June 30, 2025, capital ratios were as follows: total risk-based capital to risk-weighted assets 15.12%; tier 1 capital to risk-weighted assets 13.87%; tier 1 leverage 11.87%; and common equity to assets 8.35%.

Pursuant to the Company's Repurchase Plan, management is given discretion to determine the number and pricing of the shares to be purchased under the plan, as well as the timing of any such purchases. The Board Directors amended the plan on June 3, 2025 and approved increasing the authorized repurchase limit to $10 million. The Company repurchased 79,777 common shares under the repurchase plan during the first and second quarter of 2025 at an average cost of $27.62 per share totaling $2.2 million. As of June 30, 2025, $9.0 million remains available for share repurchases pursuant to the plan.

On July 30, 2025, the Company's Board of Directors approved a quarterly cash dividend of $0.20 per common share, payable October 1, 2025 to shareholders of record at the close of business on September 15, 2025.

[Tables follow]

------

**FINANCIAL SUMMARY**

*<u>(unaudited)</u>*

*<u>$000, except per share data</u>*

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30,** | **March 31,** | **June 30,** |
| **Statement of income information:** | **2025** | **2025** | **2024** |
| &nbsp;&nbsp;Total interest income | $23911 | $23458 | $23556 |
| &nbsp;&nbsp;Total interest expense | 7769 | 8164 | 9384 |
| &nbsp;&nbsp;Net interest income | 16142 | 15294 | 14172 |
| &nbsp;&nbsp;(Release of) provision for credit losses | (51) | (340) | 457 |
| &nbsp;&nbsp;Non-interest income | 3545 | 3463 | 3996 |
| &nbsp;&nbsp;Investment securities (losses) gains, net | (1) | (2) | (15) |
| &nbsp;&nbsp;Non-interest expense | 12269 | 12499 | 12034 |
| &nbsp;&nbsp;Pre-tax income | 7468 | 6596 | 5662 |
| &nbsp;&nbsp;Income taxes | 1367 | 1213 | 1033 |
| &nbsp;&nbsp;Net income | $6101 | $5383 | $4629 |
| **Earnings per share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic: | $0.88 | $0.77 | $0.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted: | $0.88 | $0.77 | $0.66 |
|  |  | **Six Months Ended** | **Six Months Ended** |
|  |  | **June 30,** | **June 30,** |
| **Statement of income information:** |  | **2025** | **2024** |
| &nbsp;&nbsp;Total interest income |  | $47369 | $47608 |
| &nbsp;&nbsp;Total interest expense |  | 15933 | 18688 |
| &nbsp;&nbsp;Net interest income |  | 31436 | 28920 |
| &nbsp;&nbsp;(Release of) provision for credit losses |  | (391) | 227 |
| &nbsp;&nbsp;Non-interest income |  | 7008 | 7015 |
| &nbsp;&nbsp;Investment securities losses, net |  | (3) | (15) |
| &nbsp;&nbsp;Non-interest expense |  | 24768 | 24609 |
| &nbsp;&nbsp;Pre-tax income |  | 14064 | 11084 |
| &nbsp;&nbsp;Income taxes |  | 2580 | 1999 |
| &nbsp;&nbsp;Net income |  | $11484 | $9085 |
| **Earnings per share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic: |  | $1.65 | $1.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted: |  | $1.65 | $1.29 |

---

------

**FINANCIAL SUMMARY *(continued)***

*<u>(unaudited)</u>*

*<u>$000</u>*

---

| | | | |
|:---|:---|:---|:---|
| | **As of or for the three months ended** | **As of or for the three months ended** | **As of or for the three months ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **June 30,**<br>**2024** |
| **Performance Ratios** |  |  |  |
| &nbsp;&nbsp;&nbsp;Return on average assets | 1.36% | 1.20% | 1.02% |
| &nbsp;&nbsp;&nbsp;Return on average common equity | 15.85% | 14.29% | 13.75% |
| &nbsp;&nbsp;&nbsp;Net interest margin (FTE) | 3.89% | 3.67% | 3.33% |
| &nbsp;&nbsp;&nbsp;Efficiency ratio | 62.32% | 66.64% | 66.24% |
| **Asset Quality Ratios** |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-performing loans (a) | $2761 | $2461 | $4437 |
| &nbsp;&nbsp;&nbsp;Non-performing assets | $5186 | $3129 | $8062 |
| &nbsp;&nbsp;&nbsp;Net charge-offs | $51 | $(18) | $1977 |
| &nbsp;&nbsp;Net Charge-offs to Average Loans (b) | 0.01% | 0.00% | 0.53% |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses to total loans | 1.47% | 1.48% | 1.47% |
| &nbsp;&nbsp;&nbsp;Non-performing loans to total loans | 0.19% | 0.17% | 0.30% |
| &nbsp;&nbsp;&nbsp;Non-performing assets to loans | 0.35% | 0.21% | 0.54% |
| &nbsp;&nbsp;&nbsp;Non-performing assets to total assets | 0.28% | 0.17% | 0.44% |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses on loans to |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;non-performing loans | 781.24% | 885.01% | 495.38% |
| **Capital Ratios** |  |  |  |
| &nbsp;&nbsp;&nbsp;Average stockholders' equity to average total assets | 8.56% | 8.42% | 7.40% |
| &nbsp;&nbsp;&nbsp;Period-end stockholders' equity to period-end assets | 8.35% | 8.15% | 7.48% |
| &nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 15.12% | 14.94% | 14.30% |
| &nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 13.87% | 13.69% | 12.94% |
| &nbsp;&nbsp;&nbsp;Common equity Tier 1 capital | 10.82% | 10.64% | 10.02% |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 11.87% | 11.64% | 10.94% |

---

(a)Non-performing loans include loans 90-days past due and accruing and non-accrual loans.

(b)Annualized

------

**About Hawthorn Bancshares**

Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank, which has served families and businesses for more than 150 years. Hawthorn Bank has multiple locations, including in the greater Kansas City metropolitan area, Jefferson City, Columbia, Springfield, and Clinton.

**Contact:**

**Hawthorn Bancshares, Inc.**<br>Brent M. Giles

Chief Executive Officer

TEL: 573.761.6100<br>www.HawthornBancshares.com

*The financial results in this press release reflect preliminary, unaudited results, which are not final until the Company's Quarterly Report on Form 10-Q is filed. Statements made in this press release that suggest the Company's or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the Company's quarterly and annual reports filed with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this communication, and the Company disclaims any obligation to update any forward-looking statement or to publicly announce the results of any revisions to any of the forward-looking statements included herein, except as required by law.*

## Exhibit 99.2

**Exhibit 99.2**

![logo2024a.jpg](logo2024a.jpg)

**Hawthorn Bancshares Announces Cash Dividend**

**Jefferson City, MO. — July 30, 2025 —** Hawthorn Bancshares, Inc. (NASDAQ: HWBK) announced today that its Board of Directors approved a quarterly cash dividend of $0.20 per common share, payable October 1, 2025 to shareholders of record at the close of business on September 15, 2025.

**About Hawthorn Bancshares, Inc.**

Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank, which has served families and businesses for more than 150 years. Hawthorn Bank has multiple locations, including in the greater Kansas City metropolitan area, Jefferson City, Columbia, Springfield, and Clinton.

**Contact:**

**Hawthorn Bancshares, Inc.**<br>Brent M. Giles

Chief Executive Officer

TEL: 573.761.6100<br>www.HawthornBancshares.com

*Statements made in this press release that suggest the Company's or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the Company's quarterly and annual reports filed with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this communication, and the Company disclaims any obligation to update any forward-looking statement or to publicly announce the results of any revisions to any of the forward-looking statements included herein, except as required by law.*

<br>