Hawthorn Bancshares Announces Results of 2020 Annual Meeting
Rhea-AI Summary
The Board of Directors of Hawthorn Bancshares, Inc. (NASDAQ: HWBK) announced the re-election of Philip D. Freeman, Kathleen L. Bruegenhemke, and Jonathan D. Holtaway as Class I directors during the Annual Meeting on June 2, 2020. Their new three-year terms will expire in 2023. Freeman has been a director since 1993, Bruegenhemke has served as COO since 2017, and Holtaway has been a director since 2019. Shareholders also ratified KPMG, LLP as the independent auditor for the fiscal year ending December 31, 2020, approved executive pay advisory votes, and established a one-year frequency for future recommendations.
Positive
- Re-election of experienced directors reinforces stability and continuity.
- Approval of KPMG, LLP as independent auditor enhances financial oversight.
Negative
- None.
News Market Reaction – HWBK
On the day this news was published, HWBK gained 6.41%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
JEFFERSON CITY, Mo., June 04, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Hawthorn Bancshares, Inc. of Jefferson City, MO (NASDAQ: HWBK) announced that at the Company’s June 2, 2020 Annual Meeting of Shareholders, Philip D. Freeman, Kathleen L. Bruegenhemke and Jonathan D. Holtaway were re-elected as Class I directors to serve three-year terms expiring 2023.
Mr. Freeman has served as director of Hawthorn Bancshares since 1993 and is currently the owner of Freeman Properties JCMO, LLC in Jefferson City, Missouri. Ms. Bruegenhemke has served as director and as Chief Operating Officer of Hawthorn Bank since 2017. Mr. Holtaway has served as director since 2019 and is President of Ategra Capital Management, LLC.
Other members of the 7 member Board include Frank E. Burkhead, Kevin L. Riley, David T. Turner and Gus S. Wetzel, III. The Company’s advisory directorate is composed of Charles G. Dudenhoeffer and Dr. Gus S. Wetzel, II.
Shareholders approved ratification of the appointment of KPMG, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020, the shareholder advisory vote on executive pay and a 1 year frequency on future executive compensation advisory voting.
About Hawthorn Bancshares
Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank of Jefferson City, Missouri with additional locations in the Missouri communities of Lee's Summit, Liberty, Springfield, Independence, Columbia, Clinton, Osceola, Warsaw, Belton, Drexel, Harrisonville, California, St. Louis and St. Robert.
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.
FAQ
What changes occurred in the Hawthorn Bancshares Board of Directors during the June 2020 meeting?
Who are the newly re-elected directors of HWBK and what are their roles?
What firm was ratified as an independent auditor for HWBK in 2020?
What was approved regarding executive pay at HWBK's annual meeting?
