Hawthorn Bancshares (HWBK) investor relations material

Executive summary

• Q3 2026 net income was $7.1M, up 15.2% YoY, with diluted EPS of $1.01 versus $0.88; adjusted net income was $8.6M and adjusted diluted EPS was $1.23.

• Nine-month net income rose to $20.1M from $17.6M; diluted EPS was $2.90 versus $2.53, and adjusted net income was $22.2M with adjusted diluted EPS of $3.20.

• The September 3 FSC acquisition added nine northern Missouri branches and drove much of the increase in loans and deposits; total assets reached $2.14B at quarter-end.

Financial highlights

• Q3 net interest income increased to $19.3M from $16.9M YoY; 9M net interest income rose to $53.7M from $48.3M.

• Q3 non-interest income was $3.7M, unchanged YoY and down 31.1% QoQ after a prior-quarter gain on sale of an unused administrative office; 9M income rose 13.6% to $12.2M.

• Q3 non-interest expense rose 16.6% YoY to $14.9M; 9M expense increased 10.9% to $41.7M, including $2.0M of Q3 and $2.6M of 9M acquisition-related costs.

• Income tax expense was $0.8M, with a 10.0% effective tax rate, reduced by discounted federal tax credits.

• Loans held for investment reached $1.69B and deposits $1.79B at September 30, with increases mainly reflecting acquired FSC balances.

Segment performance

• Q3 Bank segment net income was $7.8M; Wealth Management earned $0.3M, while non-bank operations recorded a $1.0M loss.

• 9M Bank segment net income was $22.1M; Wealth Management earned $0.6M, while non-bank operations recorded a $2.5M loss.

• Wealth Management revenue increased 13.7% to $0.7M in Q3 and 20.6% to $2.0M for 9M, driven by growth in new and existing accounts.