Exhibit 99.1


Hawthorn Bancshares Reports Third Quarter 2017 Financial Results


Jefferson City, Mo. October 26, 2017 Hawthorn Bancshares Inc. (NASDAQ: HWBK), today reported consolidated financial results for the Company for the quarter ended September 30, 2017.  

Net income for the current quarter was $1.8 million, or $0.30 per diluted common share, compared to $1.9 million, or $0.33 per diluted common share, for the linked quarter ended June 30, 2017 and $1.9 million, or $0.32 per diluted common share, for the quarter ended September 30, 2016.   

The year-to-date annualized return on average common equity was 8.18% and the annualized return on average assets was 0.58% for the current year compared to 8.65% 7.78% and 0.57%, respectively, for the prior year.

For the nine months ended September 30, 2017, Hawthorn reported earnings per common diluted share of $0.99 which was a 10% improvement over the prior year-to-date results of $0.90 per diluted common share.  Loans have continued to grow increasing $10.0 million, or 1.0%, from the prior linked quarter and increasing $97.3 million, or 10.3%, from the prior year quarter.  The net interest margin has remained relatively unchanged during the current  year at 3.44% compared to 3.48% for the prior year. Due to loan growth and maintaining the net interest margin, net interest income for the current year has continued to increase, improving by $2.1 million, or 7.0%, over the prior year. Non-interest income of $2.2 million for the current quarter was above the prior linked quarter by $0.1 million and level with the prior year quarter.  Non-interest expense of $9.8 million was $0.1 million higher than the prior linked quarter and $0.7 million higher than the prior year quarter.



Net Interest Income


Net interest income for the quarter ended September 30, 2017 was $10.8 million compared to $10.8 million for the prior linked quarter and $10.1 million for the prior year quarter. The increase over the prior year quarter of $0.7 million was primarily due to increased interest income on loans of $1.2 million resulting from average loan growth of $105.0 million and an increase in interest expense of $0.7 million mostly due to a $76.2 million increase in average balances of interest-bearing liabilities.


Non-Interest Income and Expense


Non-interest income for the quarter ended September 30, 2017 was $2.2 million compared to $2.1 million for the prior linked quarter and $2.1 million for the prior year quarter.  The  increase from the prior linked quarter was primarily due to the increase in mortgage servicing rights recorded in the current quarter.  The increase from the prior year quarter was primarily due to increases in bankcard fees, trust income and real estate mortgage income totaling $0.2 million partially offset by securities gains of $0.1 million realized in the prior year quarter.


1




The following information was filed by Hawthorn Bancshares, Inc. (HWBK) on Thursday, October 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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