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<SEC-DOCUMENT>0001299933-07-006820.txt : 20071121
<SEC-HEADER>0001299933-07-006820.hdr.sgml : 20071121
<ACCEPTANCE-DATETIME>20071121172329
ACCESSION NUMBER:		0001299933-07-006820
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071106
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071121
DATE AS OF CHANGE:		20071121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HAWTHORN BANCSHARES, INC.
		CENTRAL INDEX KEY:			0000893847
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				431626350
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23636
		FILM NUMBER:		071264021

	BUSINESS ADDRESS:	
		STREET 1:		300 SOUTHWEST LONGVIEW BLVD.
		CITY:			LEE'S SUMMIT
		STATE:			MO
		ZIP:			64081
		BUSINESS PHONE:		(573)761-6100

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 688
		CITY:			JEFFERSON CITY
		STATE:			MO
		ZIP:			65102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXCHANGE NATIONAL BANCSHARES INC
		DATE OF NAME CHANGE:	19940323
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_24033.htm
<DESCRIPTION>LIVE FILING
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<TITLE> Hawthorn Bancshares, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	November 6, 2007
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	Hawthorn Bancshares, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Missouri
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	0-23636
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	431626350
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	300 Southwest Longview Blvd., Lee's Summit, Missouri
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	&nbsp;
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	64081
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
	(Zip Code)
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	Registrant&#146;s telephone number, including area code:
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	573.761.6179
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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<!-- CoverPageRegistrant END --><P><FONT SIZE="2">
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
</P>
<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<B>
	Item 2.02 Results of Operations and Financial Condition.
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On November 6, 2007, Hawthorn Bancshares, Inc. issued a press release announcing the financial results for the fiscal quarter ending September 30, 2007.  A copy of the press release is attached as Exhibit 99.1.<br><br>The information contained in Item 2.02 of this Current Report and in Exhibit 99.1 of this Current Report is being furnished and shall not be deemed "filed" with the SEC for purposes of Section 18 of the Exchange Act of 1934, as amended, or otherwise subject to the liabilties of that section.
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<B>
	Item 8.01 Other Events.
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On November 21, 2007, Hawthorn Bancshares, Inc. issued a press release announcing that its board of directors had approved a quarterly cash dividend of 21 cents per share, payable January 1, 2008 to shareholders of record at the close of business on December 14, 2007.  The full text of the press release is furnished as an exhibit to this report on Form 8-K.
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	Item 9.01 Financial Statements and Exhibits.
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<FONT SIZE="2">
Exhibit 99.1 Hawthorn Bancshares, Inc. press release dated November 6, 2007.<br><br>Exhibit 99.2 Hawthorn Bancshares, Inc. press release dated November 21, 2007.
</FONT>
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Hawthorn Bancshares, Inc.
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	&nbsp;&nbsp;
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<I>
	November 21, 2007
</I>
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	&nbsp;
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<I>
	By:
</I>
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	&nbsp;
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<I>
	James E. Smith
</I>
<BR>
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	&nbsp;
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<I>
	Name: James E. Smith
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<I>
	Title: Chairman & CEO
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	99.1
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	&nbsp;
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Press Release Dated November 6, 2007 reporting financial results for the fiscal quarter ending September 30, 2007.
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	99.2
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	&nbsp;
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Press release dated November 21, 2007 announcing payment of a quarterly cash dividend.
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 8pt">Exhibit&nbsp;99.1</FONT>



<P align="left" style="font-size: 8pt"><FONT style="font-size: 10pt"><B>Hawthorn Bancshares Announces 3</B><sup><B>rd</B></sup><B> Quarter Earnings</B>
<BR>
Lee&#146;s Summit, MO
<BR>
November&nbsp;6, 2007
</FONT>

<P align="left" style="font-size: 10pt">Hawthorn Bancshares of Lee&#146;s Summit, MO (NASDAQ: HWBK), a financial services holding company,
announced today third quarter earnings of $0.51 per diluted share, down 25% from diluted earnings
per share of $0.68 a year ago.


<P align="left" style="font-size: 10pt">Net income for the three months ended September&nbsp;30, 2007 of $2,137,000 decreased $721,000 when
compared to the third quarter of 2006.


<P align="left" style="font-size: 10pt">For the nine months ended September&nbsp;30, 2007, Hawthorn Bancshares earned $1.61 per diluted share,
down 20% from diluted earnings per share of $2.02 a year ago. Net income for the nine months ended
September&nbsp;30, 2007 of $6,807,000 decreased $1,674,000 when compared to the first nine months of
2006.


<P align="left" style="font-size: 10pt">In commenting on earnings performance, Chairman &#038; CEO James E. Smith said &#147;In October, we completed
a key component of our strategic plan by bringing the last of our four subsidiary banks to a single
operating platform under the newly branded <B><I>Hawthorn Bank </I></B>banner. I am very pleased with our entire
staffs&#146; efforts in setting a strong foundation upon which Hawthorn Bank can build on. We knew that
consolidation related expenses were going to be sizable in 2007 and our current performance
reflects not only a tightening net interest margin, but also many costs associated with our
internal restructuring.&#148;


<P align="left" style="font-size: 10pt">To summarize the Company&#146;s performance for the nine months ended September&nbsp;30, 2007 compared to the
same period in 2006, net interest income decreased $1,472,000 (5%) due to tightening of the net
interest margin; the provision for loan losses decreased $324,000 (35%); non-interest income
increased $977,000 (15%) due in large part to proceeds received from sale of two of the Company&#146;s
charters; and other non-interest expense increased $2,489,000 (11%). The majority of the
non-interest expense increase is attributed to implementation of the Company&#146;s strategic plan which
included adding additional staff to execute key growth initiatives and legal &#038; professional fees
associated with the consolidation and rebranding effort.


<P align="left" style="font-size: 10pt">For the three months ended September&nbsp;30, 2007, return on average equity was 7.79% and return on
average assets was 0.72% compared to 11.19% and 0.99% respectively for the same period in 2006.
For the nine months ended September&nbsp;30, 2007, return on average equity was 8.50% and return on
average assets was 0.79% compared to 11.37% and 0.99% respectively for the same period in 2006.


<P align="left" style="font-size: 10pt">Comparing September&nbsp;30, 2007 balances to December&nbsp;31, 2006, total assets increased 3.8% to
$1,185,615,000. Total loans grew 8.7% to $882,890,000, while investment securities decreased 4.8%
to $180,638,000. Total deposits increased 2.9% to $925,960,000. During the same period,
stockholders&#146; equity increased 4.9% to $110,132,000 or 9.3% of total assets.


<P align="left" style="font-size: 10pt"><B>About Hawthorn Bancshares</B>


<P align="left" style="font-size: 10pt">Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Lee&#146;s Summit,
Missouri, is the parent company of Hawthorn Bank of Jefferson City with locations in Lee&#146;s Summit,
Springfield, Branson, Independence, Raymore, Columbia, Clinton, Windsor, Collins, Osceola, Warsaw,
Belton, Drexel, Harrisonville, California, Tipton and St. Robert.


<P align="left" style="font-size: 10pt"><I>Statements made in this press release that suggest Hawthorn Bancshares&#146; or management&#146;s intentions,
hopes, beliefs, expectations, or predictions of the future include &#147;forward-looking statements&#148;
within the meaning of Section&nbsp;21E of the Securities and Exchange Act of 1934, as amended. It is
important to note that actual results could differ materially from those projected in such
forward-looking statements. Additional information concerning factors that could cause actual
results to differ materially from those projected in such forward-looking statements is contained
from time to time in the company&#146;s quarterly and annual reports filed with the Securities and
Exchange Commission.</I>

<DIV align="center">
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Contact:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kathleen Bruegenhemke<BR>
Senior Vice President, Investor Relations<BR>
TEL: 573.761.6100 FAX: 573.761.6272<BR>
www.HawthornBancshares.com</TD>
</TR>
<TR style="font-size: 1px">
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&nbsp;</DIV></TD>
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</TR>
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<P align="center" style="font-size: 10pt; display: none">1
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><U><B>FINANCIAL SUMMARY</B></U>
</FONT><BR>
<FONT style="font-size: 8pt"><U><B>(unaudited)</B></U>
</FONT>
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
</TR>

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<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left"><DIV style="margin-left:10px; text-indent:-10px">Balance sheet information:<BR></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">September&nbsp;30, 2007</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">December&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Loans, net of allowance<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for loan losses<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">873,671,621</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">803,297,381</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Debt and equity securities<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">180,638,084</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189,773,310</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Total assets<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,185,614,607</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,142,711,897</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Deposits<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">925,960,026</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">899,864,734</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Stockholders&#146; equity<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">110,132,232</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104,944,590</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="13" align="left"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three Months<BR></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Three Months</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left"><DIV style="margin-left:10px; text-indent:-10px">Statement of income information:<BR></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Ended Sept. 30, 2007</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Ended Sept. 30, 2006</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Total interest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,992,167</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,314,465</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Total interest expense<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,666,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,589,462</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Net interest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,325,241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,725,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Provision for loan losses<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">225,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">300,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Noninterest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,095,181</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,216,573</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Noninterest expense<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,161,173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,481,919</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Income before taxes<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,034,249</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,159,657</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Income taxes<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">897,262</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,301,172</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Net income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,136,987</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,858,485</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="13" align="left"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nine Months<BR></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Nine Months</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left"><DIV style="margin-left:10px; text-indent:-10px">Statement of income information:<BR></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Ended Sept. 30, 2007</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">Ended Sept. 30, 2006</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Total interest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">55,160,022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">53,037,152</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Total interest expense<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,614,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,019,054</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Net interest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,545,958</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,018,098</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Provision for loan losses<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">604,216</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">928,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Noninterest income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,468,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,491,664</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Noninterest expense<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,740,315</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,250,978</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="9" align="left">&nbsp;&nbsp;&nbsp;Income before taxes<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,669,818</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,330,784</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Income taxes<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,863,136</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,850,507</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD colspan="5" align="left">&nbsp;&nbsp;&nbsp;Net income<BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,806,682</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,480,277</TD>
    <TD>&nbsp;</TD>
</TR>
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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EX-99.2
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 8pt">Exhibit&nbsp;99.2</FONT>



<P align="left" style="font-size: 8pt"><FONT style="font-size: 10pt"><B>Hawthorn Bancshares Declares Quarterly Dividend of $0.21 per Share</B>
<BR>
Lee&#146;s Summit, MO
<BR>
November&nbsp;21, 2007
</FONT>

<P align="left" style="font-size: 10pt">Hawthorn Bancshares of Lee&#146;s Summit, MO (NASDAQ: HWBK) announced today that its Board of Directors
approved a quarterly cash dividend of 21 cents per share, payable January&nbsp;1, 2008 to shareholders
of record at the close of business on December&nbsp;14, 2007.


<P align="left" style="font-size: 10pt">In commenting on the Board&#146;s action, Chairman and CEO James E. Smith said, &#147;We are pleased to again
demonstrate our financial strength through payment of this cash dividend.&#148;


<P align="left" style="font-size: 10pt"><B>About Hawthorn Bancshares</B>


<P align="left" style="font-size: 10pt">Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Lee&#146;s Summit,
Missouri, is the parent company of Hawthorn Bank of Jefferson City with locations in Lee&#146;s Summit,
Springfield, Branson, Independence, Raymore, Columbia, Clinton, Windsor, Collins, Osceola, Warsaw,
Belton, Drexel, Harrisonville, California, Tipton and St. Robert.


<P align="left" style="font-size: 10pt"><I>Statements made in this press release that suggest Hawthorn Bancshares&#146; or management&#146;s intentions,
hopes, beliefs, expectations, or predictions of the future include &#147;forward-looking statements&#148;
within the meaning of Section&nbsp;21E of the Securities and Exchange Act of 1934, as amended. It is
important to note that actual results could differ materially from those projected in such
forward-looking statements. Additional information concerning factors that could cause actual
results to differ materially from those projected in such forward-looking statements is contained
from time to time in the company&#146;s quarterly and annual reports filed with the Securities and
Exchange Commission.</I>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Contact:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kathleen Bruegenhemke<BR>
Senior Vice President, Investor Relations<BR>
TEL: 573.761.6100 FAX: 573.761.6272<BR>
www.HawthornBancshares.com</TD>
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