Hawthorn Bancshares, Inc. Financial Ratios — HWBK Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	1.84	1.41	5.87	9.88	10.25	8.17	3.74	11.23	15.03	11.64	16.11	15.02	0.73	12.78	14.7
Return on Assets (%)	0.24	0.24	0.43	0.66	0.73	0.59	0.25	0.74	1.08	0.89	1.26	1.11	0.05	0.99	1.28
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	6.14	4.45	3.47	3.65	3.63	3.62	3.34	3.32	3.57	3.32	3.02	2.94	3.82	2.26	2.79
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	6.65	6.61	14.74	24.26	26.4	22.39	21.81	22.85	34.55	25.59	37.38	34.5	0.78	30.67	36.24
Profit Margin (%)	5.51	5.54	9.91	15.88	17.22	14.78	6.58	19.77	27.92	20.93	29.83	28.53	1.73	25.04	29.64
Net Income to Common Margin (%)	2.59	2.04	8.69	15.88	17.22	14.78	6.58	19.77	27.92	20.93	29.83	28.53	1.73	25.04	29.64
Effective Tax Rate (%)	17.14	16.21	32.75	34.56	34.75	33.99	69.83	13.47	19.18	18.21	20.19	17.29	- -	18.35	18.21
Dvd Payout Ratio (%)	67.26	34.59	18.79	13.29	12.3	15.06	43.18	18.6	16.66	21.2	16.06	20.43	486.3	27.65	22.8
Sustainable Growth Rate (%)	0.6	0.92	4.76	8.57	8.99	6.94	2.13	9.14	12.52	9.17	13.52	11.95	-2.8	9.25	11.35

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	78	70	73	92	99	143	171	145	149	158	129	149	158	133	155
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	78	70	73	92	99	143	171	145	149	158	129	149	158	133	155
Total Debt/EBITDA	24.47	30.72	42.23	52.61	54.96	80.18	98.48	80.49	72.08	69.89	56.39	69.6	74.88	80.42	69.37
Net Debt/EBITDA	10.92	17.03	26.67	39.89	43.65	65.26	83.04	60.49	54.79	56.31	-13.61	28.42	29.93	47.89	20.64
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.26	6.28	6.52	6.89	7.27	7.07	6.39	6.71	7.71	7.53	8.13	6.62	7.26	8.19	9.19
Long-Term Debt/Equity (%)	75.94	75.48	98.8	114.79	113.98	156.98	187	145.49	129.2	121.22	86.43	116.96	115.88	88.73	89.23
Long-Term Debt/Capital (%)	43.16	43.01	49.7	53.44	53.27	61.09	65.16	59.27	56.37	54.8	46.36	53.91	53.68	47.01	47.15
Long-Term Debt/Total Assets (%)	6.65	5.89	6.45	7.91	8.28	11.1	11.96	9.76	9.96	9.13	7.03	7.75	8.41	7.27	8.2
Total Debt/Equity (%)	75.94	75.48	98.8	114.79	113.98	156.98	187	145.49	129.2	121.22	86.43	116.96	115.88	88.73	89.23
Total Debt/Capital (%)	43.16	43.01	49.7	53.44	53.27	61.09	65.16	59.27	56.37	54.8	46.36	53.91	53.68	47.01	47.15
Total Debt/Total Assets (%)	6.65	5.89	6.45	7.91	8.28	11.1	11.96	9.76	9.96	9.13	7.03	7.75	8.41	7.27	8.2
Net Debt to Equity	33.89	41.85	62.39	87.03	90.51	127.77	157.69	109.35	98.2	97.67	-20.86	47.76	46.32	52.84	26.55
Net Debt/Capital (%)	25.31	29.5	38.42	46.53	47.51	56.1	61.19	52.23	49.07	49.01	-25.96	32.06	31.47	34.32	20.62
EBITDA	3	2	2	2	2	2	2	2	2	2	2	2	2	2	2
EBITDA-CapEx	- -	1	-1	- -	1	1	- -	-1	- -	- -	2	- -	- -	-1	-2
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.26	6.28	6.52	6.89	7.27	7.07	6.39	6.71	7.71	7.53	8.13	6.62	7.26	8.19	9.19
Long-Term Debt/Equity (%)	75.94	75.48	98.8	114.79	113.98	156.98	187	145.49	129.2	121.22	86.43	116.96	115.88	88.73	89.23
Long-Term Debt/Capital (%)	43.16	43.01	49.7	53.44	53.27	61.09	65.16	59.27	56.37	54.8	46.36	53.91	53.68	47.01	47.15
Long-Term Debt/Total Assets (%)	6.65	5.89	6.45	7.91	8.28	11.1	11.96	9.76	9.96	9.13	7.03	7.75	8.41	7.27	8.2
Total Debt/Equity (%)	75.94	75.48	98.8	114.79	113.98	156.98	187	145.49	129.2	121.22	86.43	116.96	115.88	88.73	89.23
Total Debt/Capital (%)	43.16	43.01	49.7	53.44	53.27	61.09	65.16	59.27	56.37	54.8	46.36	53.91	53.68	47.01	47.15
Total Debt/Total Assets (%)	6.65	5.89	6.45	7.91	8.28	11.1	11.96	9.76	9.96	9.13	7.03	7.75	8.41	7.27	8.2
CFO/Total Liabilities	1.95	1.37	1.9	1.24	1.2	1.13	0.93	1.18	1.41	1.31	1.8	1.13	1.01	1.53	1.56
CFO/CapEx	6.14	10.82	7.55	10.1	15.3	10.72	9.86	7.01	8.94	11.5	51.12	7.9	8.4	8.52	6.6
Altman's Z-Score	0.11	0.11	0.13	0.14	0.14	0.14	0.14	0.14	0.17	0.15	0.17	0.15	0.15	0.18	0.21

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.36	9.67	9.85	9.82	10.33	9.82	9.6	9.19	9.13	10.41	11.38	9.98	6.64	16.84	- -
Days Sales Outstanding	39.01	37.73	37.05	37.16	35.35	37.18	38.02	39.7	39.98	35.06	32.06	36.57	55	21.68	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	27	35	59	91	82	99	120	127	160	142	172	147	179	198	241
- Cash & Cash Equivalents	43	31	27	22	20	27	27	36	33	29	158	87	93	52	105
+ Preferred Equity and Hybrid Capital	29	18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	78	70	73	92	99	143	171	145	149	158	129	149	158	133	155
Enterprise Value	-123	-109	-101	-38	-74	1	33	17	100	74	-168	-41	54	60	218
Total Capital	180	162	148	173	187	234	262	244	264	289	278	276	294	282	330
Total Debt/Capital (%)	43.16	43.01	49.7	53.44	53.27	61.09	65.16	59.27	56.37	54.8	46.36	53.91	53.68	47.01	47.15
Total Debt / EV	-0.64	-0.64	-0.73	-2.43	-1.35	120.38	5.12	8.29	1.48	2.15	-0.76	-3.63	2.92	2.21	0.71
EV/Sales	- -	- -	- -	- -	- -	0.02	0.64	0.32	1.74	1.08	- -	- -	0.98	0.83	2.72
EV/EBITDA	- -	- -	- -	- -	- -	0.67	19.23	9.71	48.57	32.48	- -	- -	25.69	36.47	97.4
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	0.09	2.67	1.07	5.17	3.5	- -	- -	3.07	2.35	8.11
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	0.08	2.43	0.94	4.65	3.22	- -	- -	2.75	2.1	7.04
Diluted Market Cap	27	35	59	91	82	100	121	127	160	142	172	148	173	198	242
Diluted Enterprise Value	91	91	105	161	161	216	265	235	275	272	143	210	237	279	292
EV per Share	- -	- -	- -	- -	- -	0.16	4.55	2.38	13.64	10.09	- -	- -	7.68	8.61	31.63
TTM Sales	52	51	50	48	50	49	52	54	58	68	75	73	55	73	80
TTM EBITDA	3	2	2	2	2	2	2	2	2	2	2	2	2	2	2
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	21	15	20	14	13	14	12	16	19	21	30	20	18	26	27
TTM Free Cash Flow to Firm	24	16	23	15	14	15	14	19	22	23	31	23	20	29	31

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	1.12	2.15	2.57	6.09	5.8	6.74	8.8	6.8	7.42	6.23	5.58	6.46	8.79	6.93	7.81
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-123	-109	-101	-38	-74	1	33	17	100	74	-168	-41	54	60	218
Low Price	3.44	3.72	4.78	7.76	8.78	10.15	12.36	15.81	16.81	11.5	16.06	20.25	15.02	17.86	25.21
EV/Sales	- -	- -	- -	- -	- -	0.02	0.64	0.32	1.74	1.08	- -	- -	0.98	0.83	2.72
EV/EBITDA	- -	- -	- -	- -	- -	0.67	19.23	9.71	48.57	32.48	- -	- -	25.69	36.47	97.4
Price/Earnings	20.15	33.61	13.49	11.86	9.59	13.7	35.41	11.82	9.92	9.96	7.63	7.11	181.21	10.86	10.16
Price/Earnings Average	26.02	38.71	13.82	8.8	8.84	11.58	34.44	12.27	9.25	8.86	6.54	7.96	141.13	8.9	8.88
Price/Earnings High	37.68	54.52	19.67	11.86	11.43	14.98	40.11	14.73	10.8	11.36	7.66	8.69	184.14	13.03	10.63
Price/Earnings Low	18.33	25.67	7.85	7.26	7.31	10.34	26.68	10.81	7.65	5.88	5.11	6.88	107.29	6.84	7.34
Price/Book Value	0.37	0.47	0.79	1.13	0.94	1.09	1.32	1.28	1.39	1.09	1.15	1.16	1.31	1.32	1.38
Price/Book Value Average	0.48	0.54	0.81	0.84	0.87	0.92	1.28	1.33	1.3	0.97	0.99	1.29	1.02	1.09	1.21
Price/Book Value High	0.69	0.76	1.15	1.13	1.13	1.19	1.49	1.59	1.51	1.24	1.16	1.41	1.33	1.59	1.45
Price/Book Value Low	0.34	0.36	0.46	0.69	0.72	0.82	0.99	1.17	1.07	0.64	0.77	1.12	0.78	0.83	1
Price/Tangible Book Value	0.38	0.49	0.82	1.17	0.98	1.12	1.36	1.32	1.42	1.11	1.17	1.18	1.33	1.32	1.38
Price/Tangible Book Value Average	0.5	0.56	0.84	0.87	0.9	0.95	1.32	1.37	1.33	0.99	1.01	1.32	1.04	1.09	1.21
Price/Tangible Book Value High	0.72	0.79	1.2	1.17	1.16	1.23	1.54	1.64	1.55	1.26	1.18	1.45	1.35	1.59	1.45
Price/Tangible Book Value Low	0.35	0.37	0.48	0.71	0.74	0.85	1.02	1.2	1.1	0.65	0.79	1.14	0.79	0.83	1
Price/Sales	0.52	0.68	1.17	1.88	1.65	2.02	2.33	2.34	2.77	2.08	2.28	2.03	3.14	2.72	3.01
Price/Sales Average	0.67	0.79	1.2	1.4	1.52	1.71	2.27	2.43	2.58	1.85	1.95	2.27	2.45	2.23	2.63
Price/Sales High	0.98	1.11	1.71	1.88	1.97	2.21	2.64	2.91	3.01	2.38	2.29	2.48	3.19	3.26	3.15
Price/Sales Low	0.48	0.52	0.68	1.15	1.26	1.53	1.76	2.14	2.14	1.23	1.52	1.96	1.86	1.71	2.18
Price/Cash Flow	1.3	2.35	2.91	6.7	6.18	7.37	9.69	7.77	8.25	6.77	5.69	7.28	9.84	7.75	8.98
Price/Cash Flow Average	1.68	2.7	2.97	4.97	5.7	6.23	9.42	8.07	7.69	6.02	4.88	8.14	7.66	6.35	7.85
Price/Cash Flow High	2.43	3.8	4.24	6.7	7.36	8.06	10.97	9.68	8.98	7.73	5.71	8.9	10	9.29	9.4
Price/Cash Flow Low	1.18	1.79	1.69	4.1	4.71	5.56	7.3	7.1	6.36	4	3.81	7.04	5.82	4.88	6.49
Price/Free Cash Flow Average	1.44	2.47	2.63	4.52	5.35	5.7	8.56	7.06	6.91	5.54	4.78	7.23	6.85	5.68	6.83
Price/Free Cash Flow High	2.09	3.48	3.74	6.09	6.91	7.37	9.97	8.47	8.07	7.11	5.6	7.9	8.93	8.32	8.17
Price/Free Cash Flow Low	1.02	1.64	1.49	3.73	4.42	5.09	6.63	6.22	5.72	3.68	3.73	6.25	5.2	4.37	5.65
EV/Sales Average	1.91	1.9	2.12	2.85	3.11	4.07	5.03	4.44	4.58	3.75	1.56	3.12	3.69	3.33	3.25
EV/Sales High	2.21	2.22	2.63	3.34	3.55	4.57	5.4	4.93	5.01	4.27	1.9	3.33	4.46	4.37	3.76
EV/Sales Low	1.71	1.63	1.61	2.61	2.84	3.88	4.52	4.15	4.13	3.13	1.14	2.82	3.08	2.82	2.79
EV/EBITDA Average	31.12	42.69	61.28	78.2	85.65	112.41	150.51	133.86	128.19	113.02	51.67	106.11	96.55	147.31	116.29
EV/EBITDA High	36.04	49.94	75.95	91.51	97.92	126.27	161.61	148.54	140.33	128.77	62.71	113.24	116.68	192.91	134.75
EV/EBITDA Low	27.87	36.72	46.35	71.51	78.38	107.36	135.31	125.09	115.72	94.27	37.54	95.72	80.71	124.55	100.01
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	3.78	4.87	8.21	12.67	11.51	13.45	16.4	17.29	21.8	19.47	23.98	20.93	25.37	28.35	34.88
High Price	7.07	7.9	11.97	12.67	13.72	14.71	18.58	21.55	23.72	22.22	24.09	25.58	25.78	34	36.49
Enterprise Value Average	99	97	107	137	155	200	261	241	264	256	118	227	203	243	261
Enterprise Value High	115	113	132	161	177	225	280	267	289	292	143	242	246	318	302
Enterprise Value Low	89	83	81	126	142	191	235	225	239	214	86	205	170	206	224

Shares Outstanding	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Diluted Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Basic Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Revenue per Share	7.23	7.11	7.01	6.73	6.97	6.64	7.04	7.4	7.87	9.35	10.54	10.31	8.07	10.42	11.58
EBITDA per Share	0.44	0.32	0.24	0.25	0.25	0.24	0.24	0.25	0.28	0.31	0.32	0.3	0.31	0.24	0.32
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.19	0.14	0.61	1.07	1.2	0.98	0.46	1.46	2.2	1.96	3.14	2.94	0.14	2.61	3.43
Basic EPS from Cont Ops	0.4	0.39	0.69	1.07	1.2	0.98	0.46	1.46	2.2	1.96	3.14	2.94	0.14	2.61	3.43
Diluted EPS, GAAP	0.19	0.14	0.61	1.07	1.2	0.98	0.46	1.46	2.2	1.96	3.14	2.94	0.14	2.61	3.43
Diluted EPS from Cont Ops	0.4	0.39	0.69	1.07	1.2	0.98	0.46	1.46	2.2	1.96	3.14	2.94	0.14	2.61	3.43
Dividend per Share	0.34	0.3	0.2	0.14	0.15	0.15	0.2	0.27	0.37	0.41	0.5	0.6	0.68	0.72	0.78
Cash Flow per Share	2.91	2.08	2.83	1.89	1.86	1.82	1.69	2.23	2.64	2.88	4.22	2.88	2.58	3.66	3.88
Free Cash Flow per Basic Share	2.43	1.88	2.45	1.7	1.74	1.65	1.52	1.91	2.35	2.63	4.14	2.51	2.27	3.23	3.3
Cash & Equivalents per Share	35.87	32.29	32.54	30.9	35.69	32.62	35.14	34.61	28.4	31.09	65.51	47.93	40.09	38.73	25.78
Book Value per Share	10.23	10.36	10.38	11.25	12.19	12.31	12.45	13.54	15.67	17.92	20.81	18.1	19.33	21.4	25.25
Tangible Book Value per Share	9.83	10.01	9.96	10.86	11.79	11.96	12.08	13.14	15.33	17.58	20.44	17.69	19.09	21.4	25.25

Hawthorn Bancshares, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)