HAWTHORN BANCSHARES, INC.
For the period ended Mar 31, 2025. Filed May 12, 2025.
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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.
Mar 31, 2025 · Filed May 12, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
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 March 31, 2025:
| Period | (a) Total Number ofShares (or Units)Purchased (1) | (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 (1) |
|---|---|---|---|---|
| January 2025 | — | $— | — | $3,894,221 |
| February 2025 | — | $— | — | $3,894,221 |
| March 2025 | 15,856 | $27.51 | 15,856 | $3,458,017 |
| Total | 15,856 | $27.51 | 15,856 | $3,458,017 |
(1)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 15,856 common shares under the repurchase plan during the first quarter at an average cost of $27.51 per share totaling $0.4 million. As of March 31, 2025, $3.5 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.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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