Hawthorn Bancshares Announces New Common Stock Repurchase Program

Rhea-AI Summary

Hawthorn Bancshares (NASDAQ: HWBK) has announced a new common stock repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to $10.0 million in market value of the company's common stock, replacing their previous repurchase program. Management has been given discretion over the number, pricing, and timing of share purchases, which can be made through open market or private transactions. The program has no set termination date and can be suspended at any time. Repurchased shares will be held in treasury for corporate purposes including employee benefits and stock dividends. The company plans to fund the buyback through cash on hand and operations. As of June 3, 2025, Hawthorn had 6,946,656 common shares outstanding.

Positive

• Board authorized substantial $10.0 million stock repurchase program
• Flexibility in execution with no termination date
• Company has multiple funding sources including cash on hand and operations
• Repurchased shares can be used for employee benefits and stock dividends

Negative

• No commitment to acquire any specific amount of shares
• Program can be suspended or discontinued at any time

JEFFERSON CITY, Mo., June 05, 2025 (GLOBE NEWSWIRE) -- Hawthorn Bancshares, Inc. (NASDAQ: HWBK), (the “Company”), the bank holding company for Hawthorn Bank, announced that its Board of Directors approved a new common stock repurchase program authorizing the repurchase of up to $10.0 million in market value of the Company’s common stock. The new common stock repurchase program replaces the Company’s prior common stock repurchase program.

Management was given discretion to determine the number and pricing of the shares to be purchased, as well as, the timing of any such purchases. The timing and total amount of stock repurchases will depend upon market and other conditions and may be made from time to time in open market purchases or privately negotiated transactions. The program has no termination date, may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock.

The repurchased shares will be held in treasury and may be used by the Company for general corporate purposes, including stock-based employee benefit plans and stock dividends. It is expected that the stock repurchases will be funded by cash generated through cash on hand, operations and other sources. At June 3, 2025, the Company had 6,946,656 common shares outstanding.

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.
Brent M. Giles
Chief Executive Officer
TEL: 573.761.6100
www.HawthornBancshares.com

Statements made in this press release that suggest Hawthorn Bancshares' 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 and 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.

FAQ

What is the size of Hawthorn Bancshares' (HWBK) new stock repurchase program?

Hawthorn Bancshares' new stock repurchase program authorizes the repurchase of up to $10.0 million in market value of the company's common stock.

When does HWBK's new stock buyback program expire?

The program has no termination date, though it can be suspended or discontinued at any time.

How many shares does Hawthorn Bancshares (HWBK) have outstanding?

As of June 3, 2025, Hawthorn Bancshares had 6,946,656 common shares outstanding.

How will Hawthorn Bancshares fund the stock repurchase program?

The stock repurchases will be funded through cash on hand, operations, and other sources.

What will HWBK do with the repurchased shares?

The repurchased shares will be held in treasury and may be used for general corporate purposes, including stock-based employee benefit plans and stock dividends.