SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

FJ Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 506,624.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 506,624.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

506,624.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

7.25 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 382,364 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 17,819 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, 52,138 shares of common stock of the Issuer held by Financial Hybrid Opportunity Fund LLC, 19,749 shares of common stock of the Issuer held by Financial Hybrid Opportunity SPV I LLC, of which FJ Capital Management LLC is the managing member, and 34,554 shares of common stock of the Issuer held by managed accounts that FJ Capital Management LLC manages; as such, the Reporting Person may be deemed to be a beneficial owner of the reported shares but as to which the Reporting Person disclaims beneficial ownership.

SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

Financial Opportunity Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 382,364.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 382,364.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

382,364.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

5.47 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 382,364 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.

SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

Financial Opportunity Long/Short Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 17,819.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 17,819.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

17,819.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

0.26 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 17,819 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC.

SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

Financial Hybrid Opportunity Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 52,138.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 52,138.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,138.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

0.75 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 52,138 shares of common stock of the Issuer held by Financial Hybrid Opportunity Fund LLC.

SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

Financial Hybrid Opportunity SPV I LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 19,749.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 19,749.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,749.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

0.28 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 19,749 shares of common stock of the Issuer held by Financial Hybrid Opportunity Fund LLC.

SCHEDULE 13G

CUSIP No.

420476103

1

Names of Reporting Persons

Martin Friedman

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 506,624.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 506,624.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

506,624.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

7.25 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 382,364 shares of common stock of the Issuer held by Financial Opportunity Fund LLC, 17,819 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, 52,138 shares of common stock of the Issuer held by Financial Hybrid Opportunity Fund LLC, 19,749 shares of common stock of the Issuer held by Financial Hybrid Opportunity SPV I LLC, of which FJ Capital Management LLC is the managing member, and 34,554 shares of common stock of the Issuer held by managed accounts that FJ Capital Management LLC manages; as such, Mr. Friedman may be deemed to be a beneficial owner of the reported shares but as to which Mr. Friedman disclaims beneficial ownership.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Hawthorn Bancshares, Inc (HWBK)

(b)

Address of issuer's principal executive offices:

132 East High Street, Box 688, Jefferson City, MO 65102

Item 2.

(a)

Name of person filing:

FJ Capital Management LLC Financial Opportunity Fund LLC Financial Opportunity Long/Short Fund LLC Financial Hybrid Opportunity Fund LLC Financial Hybrid Opportunity SPV I LLC Martin Friedman

(b)

Address or principal business office or, if none, residence:

FJ Capital Management, LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Long/Short Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Hybrid Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Hybrid Opportunity SPV I LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Martin Friedman 7901 Jones Branch Drive, Suite 210 McLean, VA 22102

(c)

Citizenship:

Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Financial Hybrid Opportunity Fund LLC, Financial Hybrid Opportunity SPV I LLC, and FJ Capital Management LLC - Delaware limited liability companies Martin Friedman - United States citizen

(d)

Title of class of securities:

Common Stock

(e)

CUSIP No.:

420476103

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

FJ Capital Management LLC - 506,624 shares Financial Opportunity Fund LLC - 382,364 shares Financial Opportunity Long/Short Fund LLC - 17,819 shares Financial Hybrid Opportunity Fund LLC - 52,138 shares Financial Hybrid Opportunity SPV I LLC - 19,749 shares Martin Friedman - 506,624 shares

(b)

Percent of class:

FJ Capital Management LLC - 7.25% Financial Opportunity Fund LLC - 5.47% Financial Opportunity Long/Short Fund LLC - 0.26% Financial Hybrid Opportunity Fund LLC - 0.75% Financial Hybrid Opportunity SPV I LLC - 0.28% Martin Friedman - 7.25% %

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

0

(ii) Shared power to vote or to direct the vote:

FJ Capital Management LLC - 506,624 shares Financial Opportunity Fund LLC - 382,364 shares Financial Opportunity Long/Short Fund LLC - 17,819 shares Financial Hybrid Opportunity Fund LLC - 52,138 shares Financial Hybrid Opportunity SPV I LLC - 19,749 shares Martin Friedman - 506,624 shares

(iii) Sole power to dispose or to direct the disposition of:

0

(iv) Shared power to dispose or to direct the disposition of:

FJ Capital Management LLC - 506,624 shares Financial Opportunity Fund LLC - 382,364 shares Financial Opportunity Long/Short Fund LLC - 17,819 shares Financial Hybrid Opportunity Fund LLC - 52,138 shares Financial Hybrid Opportunity SPV I LLC - 19,749 shares Martin Friedman - 506,624 shares

Item 5.

Ownership of 5 Percent or Less of a Class.

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FJ Capital Management LLC

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	10/17/2024

Financial Opportunity Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	Managing Member
Date:	10/17/2024

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	10/17/2024

Financial Opportunity Long/Short Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	Managing Member
Date:	10/17/2024

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	10/17/2024

Financial Hybrid Opportunity Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	Managing Member
Date:	10/17/2024

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	10/17/2024

Financial Hybrid Opportunity SPV I LLC

Signature:	FJ Capital Management LLC
Name/Title:	Managing Member
Date:	10/17/2024

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	10/17/2024

Martin Friedman

Signature:	Martin Friedman
Name/Title:	Individual
Date:	10/17/2024