Hawthorn Bank's profits rise nearly 21% in Q1

Jefferson City-based Hawthorn Bancshares Inc. (Nasdaq: HWBK) reported a 20.8% increase in first-quarter profits.

The company, which operates its sole Hawthorn Bank branch in Springfield at 321 W. Battlefield Road, posted net income of $5.4 million, up from $4.5 million a year earlier, according to a news release. Year-over-year diluted share earnings were up to 77 cents from 63 cents.

"Our strong first quarter aligns with our focus on growing core relationships and improving financial results," said Brent Giles, CEO of Hawthorn Bancshares, in the release. "We continue to enhance our products, operations and resources to serve the customers in our communities and collectively achieve success."

Hawthorn's assets were roughly $1.9 billion as of March 31, and deposits were $1.5 billion.

HWBK shares were trading at $30.02 as of 10:04 a.m., compared with a 52-week range of $18.37 to $35.95 per share.