Hawthorn Bancshares posts Q2 GAAP EPS of $1.06 amid a $37.8 million drop in loans and $30.1 million decline in deposits.
Hawthorn Bancshares reported Q2 GAAP earnings per share of $1.06, matching analyst expectations. The provision for credit losses rose by $0.2 million from the prior quarter, while return on average assets and equity stood at 1.63% and 16.39%, respectively.
Loans decreased by $37.8 million, or 2.6%, and deposits fell by $30.1 million during the quarter. The bank did not provide a full explanation for the declines but noted ongoing economic pressures.
Shares showed limited movement in pre-market trading as investors digested the mixed results.