Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information, by Segment

The tables below highlight 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 three and nine months ended September 30, 2025 and 2024, respectively:


	Three Months Ended September 30, 2025
(dollars in thousands)	Hawthorn Bank		Wealth Management		Non-Bank		Total
Operating revenue
Interest income	$	24,976	$	—	$	27	$	25,003
Interest expense	7,277		—		861		8,138
Net interest income	17,699		—		(834)		16,865
Provision for (release of) credit losses	375		—		—		375
Operating expenses
Salaries and employee benefits	6,586		285		336		7,207
Occupancy, furniture and equipment expense	1,059		14		—		1,073
Processing, network, and bank card expense	1,332		40		—		1,372
Legal, examination, and professional fees	403		1		66		470
Depreciation	541		—		—		541
Other	1,928		26		204		2,158
Total operating expenses	11,849		366		606		12,821
Other
Non-interest income	2,645		651		420		3,716
Investment securities gains (losses), net	105		—		—		105
Income taxes	1,572		—		(214)		1,358
Net income (loss)	$	6,653	$	285	$	(806)	$	6,132

	Nine Months Ended September 30, 2025
(dollars in thousands)	Hawthorn Bank		Wealth Management		Non-Bank		Total

Operating revenue
Interest income	$	72,293	$	—	$	79	$	72,372
Interest expense	21,502		—		2,569		24,071
Net interest income	50,791		—		(2,490)		48,301
Provision for (release of) credit losses	(16)		—		—		(16)
Operating expenses
Salaries and employee benefits	18,896		950		976		20,822
Occupancy, furniture and equipment expense	3,230		52		—		3,282
Processing, network, and bank card expense	4,140		76		—		4,216
Legal, examination, and professional fees	1,140		1		250		1,391
Depreciation	1,681		—		—		1,681
Other	5,467		73		657		6,197
Total operating expenses	34,554		1,152		1,883		37,589
Other
Non-interest income	7,758		1,667		1,299		10,724
Investment securities losses, net	102		—		—		102
Income taxes	4,583		—		(645)		3,938
Net income (loss)	$	19,530	$	515	$	(2,429)	$	17,616

Segment assets	$	1,920,938	$	16	$	11,151	$	1,932,105


	Three Months Ended September 30, 2024
(dollars in thousands)	Hawthorn Bank		Non-Bank		Total
Operating revenue
Interest income	$	23,789	$	30	$	23,819
Interest expense	8,503		989		9,492
Net interest income	15,286		(959)		14,327
Provision for (release of) credit losses	500		—		500
Operating expenses
Salaries and employee benefits	6,202		337		6,539
Occupancy, furniture and equipment expense	1,143		—		1,142
Processing, network, and bank card expense	1,480		—		1,480
Legal, examination, and professional fees	310		68		378
Depreciation	488		—		488
Other	1,768		199		1,967
Total operating expenses	11,391		604		11,994
Other
Non-interest income	3,478		305		3,783
Investment securities gains (losses), net	8		—		8
Income taxes	1,919		(869)		1,050
Net income (loss)	$	4,962	$	(389)	$	4,574

	Nine Months Ended September 30, 2024
(dollars in thousands)	Hawthorn Bank		Non-Bank		Total

Operating revenue
Interest income	$	71,338	$	89	$	71,427
Interest expense	25,216		2,965		28,181
Net interest income	46,122		(2,876)		43,246
Provision for (release of) credit losses	726		—		726
Operating expenses
Salaries and employee benefits	19,007		986		19,993
Occupancy, furniture and equipment expense	3,217		—		3,217
Processing, network, and bank card expense	4,212		—		4,212
Legal, examination, and professional fees	1,425		288		1,713
Depreciation	1,413		—		1,413
Other	5,448		607		6,055
Total operating expenses	34,722		1,881		36,603
Other
Non-interest income	9,894		904		10,798
Investment securities gains (losses), net	(7)		—		(7)
Income taxes	4,463		(1,414)		3,049
Net income (loss)	$	16,098	$	(2,439)	$	13,659

Segment assets	$	1,802,345	$	7,424	$	1,809,769