Hawthorn Bancshares, INC.: management transactions · United States · SEC (Form 4)

About Hawthorn Bancshares, INC.

Hawthorn Bancshares, Inc. is a U.S.-listed regional bank holding company trading on the NASDAQ under the symbol HWBK. The company was incorporated in Missouri on October 23, 1992, originally as Exchange National Bancshares, Inc., and changed its name to Hawthorn Bancshares, Inc. in August 2007. Its headquarters are in Jefferson City, Missouri, and its operating subsidiary is Hawthorn Bank. For investors, the business is best viewed as a community and regional banking franchise rather than a large national institution, with earnings tied to local deposit gathering, lending, and relationship-based financial services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/893847/000089384725000002/hwbk-20241231.htm?utm_source=openai)) Hawthorn’s core model is straightforward: traditional banking plus selective fee-based services. Through Hawthorn Bank, the company provides a broad set of products for individuals, small and mid-sized businesses, and local commercial clients. On the lending side, the bank offers commercial loans, commercial real estate lending, Small Business Administration loans, equipment financing, mortgage lending, installment loans, and consumer credit. On the deposit side, it offers checking accounts, savings accounts, money market accounts, certificates of deposit, and other time deposits. Management also highlights wealth management as an expanding business line, indicating a modest but important move toward revenue diversification beyond spread income. ([sec.gov](https://www.sec.gov/Archives/edgar/data/893847/000089384724000011/hwbk-20240331.htm?utm_source=openai)) Geographically, Hawthorn is concentrated in the Midwestern United States, with a footprint centered on Missouri. The company serves communities in and around Jefferson City, Columbia, Clinton, Warsaw, Springfield, and the greater Kansas City metropolitan area. A notable recent step was the opening of a new banking center in Overland Park in February 2026, which became Hawthorn Bank’s first location in Kansas and expanded its presence in the Kansas City metro area. That move suggests an incremental growth strategy built around adjacent markets rather than broad national expansion. ([sec.gov](https://www.sec.gov/Archives/edgar/data/893847/000089384724000011/hwbk-20240331.htm?utm_source=openai)) From a competitive standpoint, Hawthorn Bancshares occupies the niche of a relationship-driven community bank. Its competitive strengths typically come from local market knowledge, faster credit decisioning, and a diversified mix of consumer, business, and commercial real estate lending. At the same time, it competes against other community banks, larger regional banks, and national institutions with greater scale and technology budgets. Recent operating updates indicate improving momentum: the company reported full-year 2025 net income of $23.8 million, up from 2024, along with a higher fully taxable equivalent net interest margin of 3.89%. In January 2026, the board also increased the quarterly cash dividend by 5% to $0.21 per share. In April 2026, Hawthorn announced an agreement to acquire FSC Bancshares, with Farmers State Bank expected to merge into Hawthorn Bank following completion, a transaction that could broaden its regional banking platform if consummated. ([sec.gov](https://www.sec.gov/Archives/edgar/data/893847/000089384726000004/a10k2025earnings-ex9911225.htm?utm_source=openai))