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what it is
Hawthorn is a community bank that takes deposits, makes loans, and sells trust and cash services across Missouri.
how it gets paid
Last year Hawthorn Bancshares made $98M in revenue. commercial banking was the main engine at $39M, or 40% of sales.
why it's growing
Revenue grew 2.4% last year. The 189% revenue jump matters most because it shows how sharp the recent swing was versus the sleepy 2.4% full-year growth rate.
what just happened
Revenue hit $72M, up 189% vs. prior year, while EPS came in at $2.53.
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
10.1x trailing p/e — the market's not buying it — or you found a deal
2.5% dividend yield — cash in your pocket every quarter
$3.44 fy2025 eps est
xvary composite: 47/100 — below average
What they do
Hawthorn is a community bank that takes deposits, makes loans, and sells trust and cash services across Missouri.
This is a local relationship business. Hawthorn had $1.9 billion in assets and 255 employees at December 31, 2025. If you run a small Missouri business, your loan, deposit account, and cash tools often sit in one place, and moving all of that is a hassle.
How they make money
$98M
annual revenue · their business grew +2.4% last year
commercial banking
$39M
commercial real estate & sba lending
$25M
personal banking
$18M
trust services
$10M
cash management services
$6M
The products that matter
commercial property lending
Commercial Real Estate Loans
core credit exposure
The snapshot does not break out exact balances, and that absence matters because about 80% of the bank's $98M revenue still depends on spread income tied to the loan book.
primary risk
consumer and installment lending
Consumer & Installment Loans
smaller lending bucket
The page gives no dollar breakout here, which tells you the thesis does not live in this segment so much as in the $78M of net interest income generated by the broader book.
secondary
deposit gathering and funding
Deposit Services
funds the loan engine
Deposits are the raw material, and the 8.7% post-earnings move says the market cared less about one quarter of EPS than about whether funding costs finally eased.
margin lever
Key numbers
10.1x
trailing p/e
You are paying 10.1 times trailing earnings for a bank expected to earn $3.44 a share in fiscal 2025. That is cheap if earnings hold.
$1.9B
bank assets
This tells you the scale. Hawthorn is a real bank, but still small enough that one bad credit cycle matters more.
2.5%
dividend yield
You get paid while you wait, though the yield is modest next to some regional bank peers.
$50M
long-term debt
Long-term debt is 18% of capital, which is manageable, but small banks do not get many balance-sheet freebies.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 60 / 100
- long-term debt $50M (18% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for HWBK right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $72M, up 189% vs. prior year, while EPS came in at $2.53.
That contrasts with full-year revenue of $98 million, which grew only 2.4%. Quiet part out loud: one quarter did a lot of the heavy lifting.
$25M
revenue
$2.53
eps
189%
revenue vs. last year
the number that mattered
The 189% revenue jump matters most because it shows how sharp the recent swing was versus the sleepy 2.4% full-year growth rate.
source: company earnings report, 2026
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What could go wrong
the #1 risk is Missouri commercial real estate credit deterioration.
high
Commercial Real Estate Concentration
You own a lender with concentrated commercial real estate exposure in one state. If Missouri property conditions weaken, credit costs can rise fast and local diversification does not bail you out.
This sits inside the core book that supports most of the bank's earnings power.
med
Deposit Cost Pressure
About $78M of annual revenue comes from net interest income. That makes funding costs the main swing factor. If deposit competition heats up again, the recent margin improvement can reverse.
A spread squeeze hits the roughly 80% of revenue tied to interest income first.
med
Thin Fee Income
Non-interest income was $20M and fell 8%. That matters because it is the cleaner, less rate-sensitive revenue bucket. When it shrinks, the bank leans harder on loan spreads.
Only about one-fifth of revenue comes from non-interest income, so diversification is limited.
low
Leadership Execution
The company announced a new CEO and President in April 2023. That is not fresh news now, but leadership choices still show up through credit mix, deposit pricing, and capital allocation.
The risk is less drama and more slow drift in underwriting discipline or returns.
About 80% of revenue comes from spread income, so this bank does not need a crisis to disappoint you. It just needs weaker credit, tighter margins, or both.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
net interest margin
The last quarter bought the stock an 8.7% rally. If margin improvement stalls, the main bullish argument gets much weaker.
calendar
Q1 2026 earnings report
Expected in late April 2026. One quarter started the new narrative. The next one tells you whether it was durable or a one-off.
risk
Missouri commercial real estate conditions
Vacancy, refinancing stress, and local employment matter more here than national banking headlines because the loan book is geographically concentrated.
trend
non-interest income trend
This line fell 8% to $20M. If it keeps sliding, the bank becomes even more dependent on spread income at the wrong time.
Analyst rankings
earnings predictability
35 / 100
Low predictability means quarterly results can swing around. In human-speak, analysts do not see this as a smooth earnings machine.
source: institutional data
Institutional activity
institutional ownership data for HWBK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$35
current price
n/a
target midpoint · n/a from current
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