Hawthorn Bancshares Announces Reinstatement of Its Common Stock Repurchase Program
August 21 2020 - 5:08PM
Hawthorn Bancshares, Inc. (NASDAQ: HWBK), announced that its Board
of Directors has reinstated its stock repurchase program, effective
yesterday, August 20, 2020.
Hawthorn Bancshares, Inc. announced the temporary suspension of
its stock buyback program in light of market conditions incurred as
a result of the Covid-19 pandemic in its March 31, 2020 10-Q. The
reinstatement of the repurchase program has a remaining
authorization of $4 million. 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 20, 2020, the Company had 6,485,648 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, 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: 573.761.6276
www.HawthornBancshares.com
Hawthorn Bancshares (NASDAQ:HWBK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hawthorn Bancshares (NASDAQ:HWBK)
Historical Stock Chart
From Jul 2023 to Jul 2024