Hawthorn Bancshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 31, 2024 at 01:22 am IST
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Hawthorn Bancshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 15.84 million compared to USD 14.99 million a year ago. Net loss was USD 7.44 million compared to net income of USD 4.73 million a year ago. Basic loss per share from continuing operations was USD 1.05 compared to basic earnings per share from continuing operations of USD 0.67 a year ago. Diluted loss per share from continuing operations was USD 1.05 compared to diluted earnings per share from continuing operations of USD 0.67 a year ago.
For the full year, net interest income was USD 59.14 million compared to USD 58.76 million a year ago. Net income was USD 0.956 million compared to USD 20.75 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 2.94 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 2.94 a year ago.
Hawthorn Bancshares, Inc. is a bank holding company. The Company's activities are limited to ownership, indirectly through its subsidiary, Union State Bancshares, Inc. (Union), of the outstanding capital stock of Hawthorn Bank (the Bank). The Bank is a full-service bank conducting a general banking and trust business, offering its customers checking and savings accounts, Internet banking, debit cards, certificates of deposit, trust services, brokerage services, safety deposit boxes and a range of lending services, including commercial and industrial loans, single payment personal loans, installment loans and commercial and residential real estate loans. In addition, the Bank provides trust and brokerage services. The Bank has approximately 21 banking offices. Its subsidiaries include Jefferson City IHC, LLC, Hawthorn Real Estate, LLC, HB Realty, LLC, Exchange National Statutory Trust I, Exchange National Statutory Trust II and Hawthorn Risk Management, Inc.