YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Hawthorn Bank, which operates a branch in Springfield at a high-traffic intersection, reports $3.5 million in quarterly earnings.
Photo courtesy Google Maps
Hawthorn Bank, which operates a branch in Springfield at a high-traffic intersection, reports $3.5 million in quarterly earnings.

Hawthorn Bank boosts profits by 21%

Posted online

Hawthorn Bancshares Inc. (Nasdaq: HWBK) improved second-quarter profits to $3.5 million, a 21% increase compared with $2.9 million in the same three-month period of 2018.

The Jefferson City-based operator of Hawthorn Bank — including its only Springfield branch at 321 W. Battlefield Road — increased diluted share earnings by 10 cents to 56 cents, according to a news release.

Second-quarter financial notes:
• Total interest income was $16.2 million, up 13% from second-quarter 2018.
• Noninterest expense of $9.7 million was down $200,000, mostly due to lower salaries and employee benefits resulting from the reduction of 43 staff members since the end of second-quarter 2018.
• Provision for loan losses dropped 44% to $250,000.

As of June 30, Hawthorn had $1.5 billion in assets and $1.2 billion in deposits. The company operates 22 branches in Missouri, according to its website.

HWBK shares were trading at $24.15 as of 9:56 a.m., compared with a 52-week range of $20.05 to $28.62.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Coronavirus Coverage

SBJ compiles news on the respiratory virus outbreak.

Most Read
SBJ.net Poll
How is your employer addressing the need for child care services this fall?

View results