Blueprint
Exhibit 99.1
Hawthorn Bancshares Announces Sale of
Branson, MO Branch
Jefferson City, Mo. — February 14, 2018 —
Hawthorn Bank, the wholly-owned subsidiary of Hawthorn Bancshares
Inc. (NASDAQ: HWBK), today announced that it has completed the sale
of its branch located in Branson, Missouri to Branson Bank,
Branson, Missouri. Total deposits transferred were approximately
$10.6 million while loans assigned to the branch were retained. The
sale is expected to result in a pre-tax gain of approximately $2.1
million, subject to certain future adjustments required in the
definitive agreement.
Commenting
on the transaction, David T. Turner, Chairman, CEO and President of
Hawthorn Bank said, “We were pleased with how smoothly this
transaction was completed and are confident that Branson Bank will
continue to provide the same level of service our customers have
come to expect.”
Hawthorn
Bank continues to operate 22 branch locations, primarily in central
and west central Missouri.
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, Independence, Columbia, Clinton,
Osceola, Warsaw, Belton, Drexel, Harrisonville, California and St.
Robert.
Contact:
Bruce Phelps
Chief
Financial Officer
TEL:
573.761.6100 FAX: 573.761.6272
www.HawthornBancshares.com
With the exception of historical information, certain statements
contained or incorporated by reference in this press release may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, such as those
pertaining to the receipt of regulatory approval, the satisfaction
of closing conditions and the closing of the proposed sale
transaction. Forward-looking statements involve numerous risks and
uncertainties and you should not rely on them as predictions of
actual events. There is no assurance the events or circumstances
reflected in the forward-looking statements will occur. You can
identify forward-looking statements by use of words such as "will
be," "intend," "continue," "believe," "may," "expect," "hope,"
"anticipate," "goal," "forecast," ""estimates," "offers," "plans,"
"would" or other similar expressions or other comparable terms or
discussions of strategy, plans or intentions contained or
incorporated by reference herein. Forward-looking statements
necessarily are dependent on assumptions, data or methods that may
be incorrect or imprecise. These forward-looking statements
represent our intentions, plans, expectations and beliefs and are
subject to numerous assumptions, risks and uncertainties. Many of
the factors that will determine these items are beyond our ability
to control or predict. For further discussion of these factors see
"Item 1A. Risk Factors" in our most recent Annual Report on Form
10-K and, to the extent applicable, our Quarterly Reports on Form
10-Q. For these statements, we claim the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. You are cautioned not to
place undue reliance on our forward-looking statements, which speak
only as of the date of this press release or the date of any
document incorporated by reference herein.