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Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company determines its operating segments based on how the chief operating decision maker (CODM) views and analyzes each segment’s operations, performance and allocates resources. The Chief Executive Officer, is the CODM. The CODM reviews the actual net income compared to budgeted net income on a monthly basis to evaluate segment performance, make decisions, and determine where to deploy capital. This analysis is also used for benchmarking performance against the Company's peers. For the years ended December 31, 2024, 2023, and 2022, the Company had one aggregated reporting segment, Hawthorn Bank. The Bank is composed of operations from providing a broad range of banking products and services located within the Missouri communities in and surrounding Jefferson City, Columbia, Clinton, Warsaw, Springfield, and the greater Kansas City metropolitan area. The table below highlights the Company’s revenues, expenses and net income (loss) for each reportable segment and is reconciled to net income (loss) on a consolidated basis for the years ended December 31, 2024, 2023, and 2022 was as follows:
(dollars in thousands) |  | Hawthorn Bank |  | Non-Banks |  | Total
Year ended December 31, 2024 |  |  |  |  |  |
Operating revenue |  |  |  |  |  |
Interest income |  | $ | 95,234 |  |  | $ | 117 |  |  | $ | 95,351 |
Interest expense |  | 32,859 |  |  | 3,899 |  |  | 36,758 |
Net interest income |  | $ | 62,375 |  |  | $ | (3,782) |  |  | $ | 58,593 |
Provision for credit losses |  | 1,027 |  |  | — |  |  | 1,027 |
Operating expenses |  |  |  |  |  |
Salaries and employee benefits |  | $ | 25,238 |  |  | 1,340 |  |  | 26,578 |
Occupancy, furniture and equipment expense |  | 4,555 |  |  | — |  |  | 4,555 |
Processing, network, and bank card expense |  | 5,530 |  |  | — |  |  | 5,530 |
Legal, examination, and professional fees |  | 2,273 |  |  | 335 |  |  | 2,608 |
Depreciation and amortization |  | 1,715 |  |  | — |  |  | 1,715 |
Other |  | 7,723 |  |  | 815 |  |  | 8,538 |
Total operating expenses |  | $ | 47,034 |  |  | $ | 2,490 |  |  | $ | 49,524 |
Other |  |  |  |  |  |
Non-interest income |  | 13,382 |  |  | 938 |  |  | 14,320 |
Investment securities losses, net |  | (4) |  |  | — |  |  | (4) |
Income taxes |  | 5,827 |  |  | (1,725) |  |  | 4,102 |
Net income |  | $ | 21,865 |  |  | $ | (3,609) |  |  | $ | 18,256 |
Segment assets |  | $ | 1,812,168 |  |  | $ | 13,017 |  |  | $ | 1,825,185 |
(dollars in thousands) |  | Hawthorn Bank |  | Non-Banks |  | Total
Year ended December 31, 2023 |  |  |  |  |  |
Operating revenue |  |  |  |  |  |
Interest income |  | $ | 91,743 |  |  | $ | 225 |  |  | $ | 91,968 |
Interest expense |  | 29,052 |  |  | 3,774 |  |  | 32,826 |
Net interest income |  | $ | 62,691 |  |  | $ | (3,549) |  |  | $ | 59,142 |
Provision for credit losses |  | 2,340 |  |  | — |  |  | 2,340 |
Operating expenses |  |  |  |  |  |
Salaries and employee benefits |  | $ | 27,830 |  |  | 1,141 |  |  | 28,971 |
Occupancy, furniture and equipment expense |  | 4,040 |  |  | 1 |  |  | 4,041 |
Processing, network, and bank card expense |  | 5,151 |  |  | — |  |  | 5,151 |
Legal, examination, and professional fees |  | 2,006 |  |  | 502 |  |  | 2,508 |
Depreciation and amortization |  | 2,214 |  |  | — |  |  | 2,214 |
Other |  | 9,761 |  |  | (287) |  |  | 9,474 |
Total operating expenses |  | $ | 51,002 |  |  | $ | 1,357 |  |  | $ | 52,359 |
Other |  |  |  |  |  |
Non-interest income |  | 7,416 |  |  | 120 |  |  | 7,536 |
Investment securities losses, net |  | (11,500) |  |  | (47) |  |  | (11,547) |
Income taxes |  | 698 |  |  | (1,222) |  |  | (524) |
Net income |  | $ | 4,567 |  |  | $ | (3,611) |  |  | $ | 956 |
Segment assets |  | $ | 1,867,686 |  |  | $ | 7,664 |  |  | $ | 1,875,350 |
(dollars in thousands) |  | Hawthorn Bank |  | Non-Banks |  | Total
Year ended December 31, 2022 |  |  |  |  |  |
Operating revenue |  |  |  |  |  |
Interest income |  | $ | 69,155 |  |  | $ | 101 |  |  | $ | 69,256 |
Interest expense |  | 8,421 |  |  | 2,072 |  |  | 10,493 |
Net interest income |  | $ | 60,734 |  |  | $ | (1,971) |  |  | $ | 58,763 |
Provision for credit losses |  | (900) |  |  | — |  |  | (900) |
Operating expenses |  |  |  |  |  |
Salaries and employee benefits |  | $ | 25,077 |  |  | 1,981 |  |  | 27,058 |
Occupancy, furniture and equipment expense |  | 3,931 |  |  | (1) |  |  | 3,930 |
Processing, network, and bank card expense |  | 4,788 |  |  | — |  |  | 4,788 |
Legal, examination, and professional fees |  | 1,318 |  |  | 312 |  |  | 1,630 |
Depreciation and amortization |  | 2,299 |  |  | — |  |  | 2,299 |
Other |  | 9,428 |  |  | (595) |  |  | 8,833 |
Total operating expenses |  | $ | 46,841 |  |  | $ | 1,697 |  |  | $ | 48,538 |
Other |  |  |  |  |  |
Non-interest income |  | 13,147 |  |  | 831 |  |  | 13,978 |
Investment securities losses, net |  | (14) |  |  | — |  |  | (14) |
Income taxes |  | 5,193 |  |  | (855) |  |  | 4,338 |
Net income |  | $ | 22,733 |  |  | $ | (1,982) |  |  | $ | 20,751 |
Segment assets |  | $ | 1,913,990 |  |  | $ | 9,550 |  |  | $ | 1,923,540 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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