HAWTHORN BANCSHARES INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
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Item 1A. Risk Factors
There have been no material changes in the risk factors previously disclosed under Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2023.
The Company's Purchases of Equity Securities
The following table summarizes the purchases made by or on behalf of the Company or certain affiliated purchasers of shares of the Company's common stock during the quarter ended June 30, 2024:
| Period | (a) Total Number ofShares (or Units)Purchased | (b) Average PricePaid per Share (orUnit) | (c) Total Number ofShares (or Units)Purchased as Part ofPublicly Announced Plansor Programs | (d) Maximum Number (orApproximate DollarValue) of Shares (orUnits) that May Yet BePurchased Under thePlans or Programs * |
|---|---|---|---|---|
| April 2024 | 14,704 | $18.94 | 14,704 | $4,307,232 |
| May 2024 | 10,993 | $19.53 | 10,993 | $4,092,583 |
| June 2024 | 5,000 | $19.74 | 5,000 | $3,993,877 |
| Total | 30,697 | $19.28 | 30,697 | $3,993,877 |
*Pursuant to the Company's 2019 Repurchase Plan, management is given discretion to determine the number and pricing of the shares to be repurchased by the Company from time to time, as well as the timing of any such repurchases. The Company repurchased 30,697 common shares under the repurchase plan during the second quarter 2024 at an average cost of $19.28 per share totaling $0.6 million. As of June 30, 2024, $4.0 million remained available for share repurchases pursuant to the plan.
The Company’s ability to pay dividends to its shareholders and repurchase shares is affected by the Company's financial condition and liquidity, general corporate law requirements and the regulations and policies of U.S. federal regulatory authorities applicable to bank holding companies, including the Basel III Capital Rules. The Company's principal source of funds to pay dividends on its common stock and to repurchase shares, other than further issuances of securities, is dividends received from the Bank. The ability of the Bank to pay dividends to the Company depends on the earnings and financial condition of the Bank and various business considerations. In addition, the Bank is subject to federal and state laws limiting the payment of dividends, including the Federal Deposit Insurance Act and Missouri banking law. Future dividends declared and paid by the Company are subject to the determination, declaration and discretion of the Company's Board of Directors and compliance with applicable regulatory capital requirements.
None.
Not applicable.
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