Hawthorn Bancshares Announces Authorization of Additional Funds to Its Common Stock Repurchase Program
August 09 2017 - 3:42PM
Business Wire
Hawthorn Bancshares Inc. (NASDAQ: HWBK), today announced that
the Board of Directors authorized the purchase of an additional
$1.5 million market value of Hawthorn Bancshares’ common stock.
Management was given discretion to determine the number and
pricing of the shares to be purchased, as well as, the timing of
any such purchases. The Company intends to purchase its shares
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 repurchased shares 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 the stock repurchases will be funded by cash
generated through cash on hand, operations and other sources. At
August 9, 2017, the Company had 5,830,410 common shares
outstanding.
About Hawthorn Bancshares
Hawthorn Bancshares, Inc., a financial-bank holding company
headquartered in Jefferson City, Missouri, is the parent company of
Hawthorn Bank of Jefferson City with locations in the Missouri
communities of Lee's Summit, Liberty, Springfield, Branson,
Independence, Columbia, Clinton, Windsor, Osceola, Warsaw, Belton,
Drexel, Harrisonville, California and St. Robert.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170809006174/en/
Hawthorn Bancshares Inc.Bruce Phelps, 573-761-6100Chief
Financial OfficerFax: 573-761-6272www.HawthornBancshares.com
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