Quarterly ResultMay 6, 2026, 04:18 PM
Hawthorn Bancshares Q1 Net Income Revised Down $1.1M to $5.7M
AI Summary
Hawthorn Bancshares, Inc. filed an amended 8-K to revise its preliminary financial results for the first quarter ended March 31, 2026. The revision stems from an accounting adjustment related to a $1.9 million property sale and leaseback, which was reclassified as a financing obligation instead of a $1.2 million gain due to continuing involvement. This adjustment resulted in a $1.1 million decrease in net income to $5.7 million and a $0.15 decrease in earnings per share to $0.83 for the quarter. The company also reported a net interest margin of 4.07%, a 2.2% decrease in loans, and a 2.3% decrease in deposits compared to the prior quarter, while maintaining a "well-capitalized" regulatory position.
Key Highlights
- Q1 2026 net income revised down $1.1 million to $5.7 million.
- Q1 2026 diluted EPS revised down $0.15 to $0.83.
- Net interest margin (FTE) was 4.07% for Q1 2026, up from 3.67% YoY.
- Loans decreased $32.6 million (2.2%) to $1.45 billion QoQ.
- Deposits decreased $35.8 million (2.3%) to $1.52 billion QoQ.
- Non-performing assets to total loans remained stable at 0.47%.
- Repurchased 12,000 common shares for $0.4 million in Q1 2026.
- Declared a quarterly cash dividend of $0.21 per common share.