Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Segment Reporting Information, by Segment

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 three months ended March 31, 2025 and 2024, respectively was as follows:


	Three Months Ended March 31, 2025
(dollars in thousands)	Hawthorn Bank		Wealth Management		Non-Bank		Total

Operating revenue
Interest income	$	23,432	$	—	$	26	$	23,458
Interest expense	7,312		—		852		8,164
Net interest income	$	16,120	$	—	$	(826)	$	15,294
Provision for credit losses	(340)		—		—		(340)
Operating expenses
Salaries and employee benefits	$	6,397	$	156	$	359	$	6,912
Occupancy, furniture and equipment expense	1,178		15		—		1,193
Processing, network, and bank card expense	1,383		18		—		1,401
Legal, examination, and professional fees	396		—		97		493
Depreciation	535		—		—		535
Other	1,739		15		211		1,965
Total operating expenses	$	11,628	$	204	$	667	$	12,499
Other
Non-interest income	$	2,591	$	512	$	360	$	3,463
Investment securities losses, net	(2)		—		—		(2)
Income taxes	1,450		—		(237)		1,213
Net income	$	5,971	$	308	$	(896)	$	5,383

Segment assets	$	1,871,281	$	4	$	12,138	$	1,883,423


	Three Months Ended March 31, 2024
(dollars in thousands)	Hawthorn Bank		Non-Bank		Total

Operating revenue
Interest income	$	24,022	$	30	$	24,052
Interest expense	8,315		989		9,304
Net interest income	$	15,707	$	(959)	$	14,748
Provision for credit losses	(230)		—		(230)
Operating expenses
Salaries and employee benefits	$	6,392	$	338	$	6,730
Occupancy, furniture and equipment expense	1,106		—		1,106
Processing, network, and bank card expense	920		450		1,370
Legal, examination, and professional fees	623		200		823
Depreciation	463		—		463
Other	2,430		(347)		2,083
Total operating expenses	$	11,934	$	641	$	12,575
Other
Non-interest income	$	2,733	$	286	$	3,019
Investment securities losses, net	—		—		—
Income taxes	1,242		(276)		966
Net income	$	5,494	$	(1,038)	$	4,456

Segment assets	$	1,825,851	$	57,572	$	1,883,423