Hawthorn Bancshares Announces Increased Share Repurchase Authorization
01 May 2021 - 1:43AM
Hawthorn Bancshares Inc. (NASDAQ: HWBK), today
announced that on April 28, 2021 the Board of Directors authorized
the purchase of an additional $3,055,058.21 market value of
Hawthorn Bancshares’ common stock, resulting in the Company being
authorized to purchase a total of up to $5.0 million market value
of Hawthorn Bancshares’ common stock.
Under this share repurchase authorization, the
Company may repurchase shares from time to time, in amounts, at
prices, and at such times as management deems appropriate, subject
to market conditions, legal requirements and other considerations.
It is anticipated that any purchase of shares under this
authorization would be made through broker dealers selected in
compliance with applicable securities laws at prices for the common
stock prevailing from time to time in NASDAQ’s National Market. The
Company is not obligated to repurchase any specific number of
shares and the share repurchase authorization may be suspended,
modified or terminated at any time without prior notice.
Any shares repurchased pursuant to this
authorization will be held in treasury and may be used by the
Company for general corporate purposes, including stock-based
employee benefit plans and stock dividends. It is expected that any
stock repurchases will be funded by cash generated through cash on
hand, operations and other sources. At April 28, 2021, the Company
had 6,362,476 common shares outstanding.
About Hawthorn Bancshares,
Inc.
Hawthorn Bancshares, Inc., a financial-bank
holding company headquartered in Jefferson City, Missouri, is the
parent company of Hawthorn Bank of Jefferson City, Missouri with
additional locations in the Missouri communities of Lee's Summit,
Liberty, St. Louis, Springfield, Independence, Columbia, Clinton,
Osceola, Warsaw, Belton, Drexel, Harrisonville, California and St.
Robert, Missouri.
Statements made in this press release that
suggest Hawthorn Bancshares' or management's intentions, hopes,
beliefs, expectations, or predictions of the future include
"forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934, as amended. It is
important to note that actual results could differ materially from
those projected in such forward-looking statements. Additional
information concerning factors that could cause actual results to
differ materially from those projected in such forward-looking
statements is contained from time to time in the company's
quarterly and annual reports filed with the Securities and Exchange
Commission.
Contact:
Stephen E. Guthrie
Chief Financial Officer
TEL: 573.761.6100 FAX: 573.761.6272
www.HawthornBancshares.com
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