HAWTHORN BANCSHARES INC
For the period ended Dec 31, 2023. Filed Mar 18, 2024.
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FY2023 · Filed Mar 18, 2024
HWBK$39.25-0.4%Stored close · as of Nov 10, 2026
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EX-13 · Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| (In thousands, except per share data) | 2023 | 2022 |
| ASSETS | ||
| Cash and due from banks | 15,675 | $18,661 |
| Federal funds sold | — | 46 |
| Other interest-bearing deposits | 77,775 | 65,013 |
| Cash and cash equivalents | 93,450 | 83,720 |
| Certificates of deposit in other banks | — | 2,955 |
| Available-for-sale debt securities, at fair value | 188,742 | 250,747 |
| Other investments | 6,300 | 6,353 |
| Total investment securities | 195,042 | 257,100 |
| Loans held for investment | 1,539,147 | 1,521,252 |
| Allowance for credit losses (1) | (23,744) | (15,588) |
| Net loans | 1,515,403 | 1,505,664 |
| Loans held for sale, at lower of cost or fair value | 3,884 | 591 |
| Premises and equipment - net | 32,047 | 32,856 |
| Mortgage servicing rights, at fair value | 1,738 | 2,899 |
| Other real estate owned - net | 1,744 | 8,795 |
| Accrued interest receivable | 8,661 | 7,953 |
| Cash surrender value - life insurance | 2,624 | 2,567 |
| Other assets (1) | 20,757 | 18,440 |
| Total assets | $1,875,350 | $1,923,540 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Deposits | ||
| Non-interest-bearing demand | $402,241 | $453,443 |
| Savings, interest checking and money market | 846,452 | 923,602 |
| Time deposits $250,000 and over | 108,147 | 94,859 |
| Other time deposits | 214,004 | 160,175 |
| Total deposits | 1,570,844 | 1,632,079 |
| Federal funds purchased and securities sold under agreements to repurchase | — | 5,187 |
| Federal Home Loan Bank advances and other borrowings | 107,000 | 98,000 |
| Subordinated notes | 49,486 | 49,486 |
| Operating lease liabilities | 1,213 | 1,533 |
| Accrued interest payable | 1,772 | 902 |
| Liability for unfunded commitments (1) | 947 | — |
| Other liabilities | 8,003 | 8,942 |
| Total liabilities | 1,739,265 | 1,796,129 |
| Stockholders’ equity: | ||
| Common stock, $1 par value, authorized 15,000,000 shares; issued 7,554,893 and 7,284,151 shares, respectively | 7,555 | 7,284 |
| Surplus | 76,818 | 71,042 |
| Retained earnings | 76,464 | 91,789 |
| Accumulated other comprehensive loss, net of tax | (13,762) | (31,714) |
| Treasury stock; 515,570 shares at cost | (10,990) | (10,990) |
| Total stockholders’ equity | 136,085 | 127,411 |
| Total liabilities and stockholders’ equity | $1,875,350 | $1,923,540 |
(1)December 31, 2023 amounts include the impacts of the January 1, 2023 adoption of ASU 2016-13. See Note 2 for details.
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