Hawthorn Bank's quarterly earnings rise 34%

Jefferson City-based Hawthorn Bancshares Inc. (Nasdaq: HWBK) produced a 34.1% increase in third-quarter profits.

The company, which operates its sole Hawthorn Bank branch in Springfield at 321 W. Battlefield Road, reported net income of $6.1 million, an increase from $4.6 million a year earlier, according to a news release. Diluted share earnings jumped to 88 cents from 66 cents year over year.

"I am pleased with our third-quarter results as they reflect continued core growth," said Brent Giles, the company's CEO, in the release. "Our margin continued to expand, and we experienced growth in our wealth management group. Additionally, we were able to grow our loan portfolio by expanding our customer relationships and attracting new customers."

Hawthorn's assets were $1.9 billion and deposits were $1.5 billion as of Sept. 30.

HWBK shares were trading at $30.89 as of 11:22 a.m., compared with a 52-week range of $25.21 to $35.95 per share.