Hawthorn Bancshares reports strong third quarter earnings with 77% net income increase

Hawthorn Bancshares reported a net income of $4.6 million for the third quarter of 2024, a 77% increase from the same period last year. Earnings per share remained steady at $0.66, up from $0.36 a year ago. The bank's net interest margin improved slightly to 3.36%, while loans and deposits decreased by 2.1% and 3.0%, respectively, compared to the previous quarter. Investments rose by 9.3% during the same period. Credit quality remained strong, with non-performing loans at 0.28%. The bank's total risk-based capital ratio was 14.91%, indicating a well-capitalized status. Book value per share increased to $20.91, a 24% rise from the prior year.