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Condensed Financial Information of the Parent Company Only | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of the Parent Company Only |
Condensed Financial Information of the Parent Company Only |
(19) | Condensed Financial Information of the Parent Company Only
Following are the condensed financial statements of Hawthorn Bancshares, Inc. (Parent only) as of and for the years indicated:
Condensed Balance Sheets
|  |  |  |  | December 31, |
(in thousands) |  |  | 2015 |  |  | 2014 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from bank subsidiaries |  |  |  |  |  | $ | 4,971 |  |  | $ | 1,024 |
Investment in equity securities |  |  |  |  |  |  | 1,486 |  |  |  | 1,486 |
Investment in subsidiaries |  |  |  |  |  |  | 134,099 |  |  |  | 130,728 |
Deferred tax asset |  |  |  |  |  |  | 2,116 |  |  |  | 1,989 |
Other assets |  |  |  |  |  |  | 7 |  |  |  | 308 |
Total assets |  |  |  |  |  | $ | 142,679 |  |  | $ | 135,535 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Subordinated notes |  |  |  |  |  | $ | 49,486 |  |  | $ | 49,486 |
Other liabilities |  |  |  |  |  |  | 5,907 |  |  |  | 5,481 |
Stockholders’ equity |  |  |  |  |  |  | 87,286 |  |  |  | 80,568 |
Total liabilities and stockholders’ equity |  |  |  |  |  | $ | 142,679 |  |  | $ | 135,535 |
Condensed Statements of Income
|  | For the Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividends received from subsidiaries |  | $ | 1,039 |  |  | $ | 2,538 |  |  | $ | 15,039 |
Total income |  |  | 1,039 |  |  |  | 2,538 |  |  |  | 15,039 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest on subordinated notes |  |  | 1,293 |  |  |  | 1,264 |  |  |  | 1,284 |
Other |  |  | 2,138 |  |  |  | 1,730 |  |  |  | 1,778 |
Total expenses |  |  | 3,431 |  |  |  | 2,994 |  |  |  | 3,062 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  |  | (2,392 | ) |  |  | (456 | ) |  |  | 11,977 |
Income tax benefit |  |  | 1,065 |  |  |  | 1,100 |  |  |  | 1,126 |
Equity in undistributed income (losses) of subsidiaries |  |  | 9,926 |  |  |  | 7,010 |  |  |  | (8,129 | )
Net income |  | $ | 8,599 |  |  | $ | 7,654 |  |  | $ | 4,974 |
Condensed Statements of Cash Flows |
|  | For the Years Ended December 31, |
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 8,599 |  |  | $ | 7,654 |  |  | $ | 4,974 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 0 |  |  |  | 0 |  |  |  | 1 |
Equity in undistributed (income) losses of subsidiaries |  |  | (9,926 | ) |  |  | (7,010 | ) |  |  | 8,129 |
Stock based compensation expense |  |  | 10 |  |  |  | 20 |  |  |  | 19 |
(Increase) decrease in deferred tax asset |  |  | (127 | ) |  |  | (1,415 | ) |  |  | 1,325 |
Other, net |  |  | 732 |  |  |  | 1,942 |  |  |  | (182 | )
Net cash (used) provided by operating activities |  | $ | (712 | ) |  | $ | 1,191 |  |  | $ | 14,266 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiary |  | $ | 5,750 |  |  | $ | 400 |  |  | $ | 4,550 |
Net cash provided by investing activities |  | $ | 5,750 |  |  | $ | 400 |  |  | $ | 4,550 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Redemption of 18,255 shares of preferred stock |  | $ | 0 |  |  | $ | 0 |  |  | $ | (18,255 | )
Cash dividends paid - preferred stock |  |  | 0 |  |  |  | 0 |  |  |  | (456 | )
Cash dividends paid - common stock |  |  | (1,058 | ) |  |  | (1,017 | ) |  |  | (978 | )
Purchase of treasury stock |  |  | (33 | ) |  |  | 0 |  |  |  | 0 |
Warrant redemption |  |  | 0 |  |  |  | 0 |  |  |  | (540 | )
Net cash used in financing activities |  | $ | (1,091 | ) |  | $ | (1,017 | ) |  | $ | (20,229 | )
Net increase (decrease) in cash and due from banks |  |  | 3,947 |  |  |  | 574 |  |  |  | (1,413 | )
Cash and due from banks at beginning of year |  |  | 1,024 |  |  |  | 450 |  |  |  | 1,863 |
Cash and due from banks at end of year |  | $ | 4,971 |  |  | $ | 1,024 |  |  | $ | 450 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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