Hawthorn Bancshares Inc (HWBK) has reported a 25.80 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $1.88 million, or $0.33 a share in the quarter, compared with $2.54 million, or $0.45 a share for the same period last year.
Revenue during the quarter dropped 7.15 percent to $11.97 million from $12.89 million in the previous year period. Net interest income for the quarter dropped 3.89 percent over the prior year period to $10.15 million. Non-interest income for the quarter fell 9.03 percent over the last year period to $2.12 million.
Assets, liabilities remain almost stable
Total assets stood at $1,277.72 million as on Sep. 30, 2016, up 4.08 percent compared with $1,227.62 million on Sep. 30, 2015. On the other hand, total liabilities stood at $1,018.03 million as on Sep. 30, 2016, down 10.74 percent from $1,140.55 million on Sep. 30, 2015.
Loans outpace deposit growth
Net loans stood at $938.30 million as on Sep. 30, 2016, up 7.82 percent compared with $870.23 million on Sep. 30, 2015. Deposits stood at $1,018.03 million as on Sep. 30, 2016, up 4.72 percent compared with $972.17 million on Sep. 30, 2015.
Investments stood at $231.06 million as on Sep. 30, 2016, down 8.85 percent or $22.42 million from year-ago. Shareholders equity stood at $92.79 million as on Sep. 30, 2016, up 6.56 percent or $5.72 million from year-ago.
Return on assets moved down 17 basis points to 0.57 percent in the quarter from 0.74 percent in the last year period. At the same time, return on equity decreased 277 basis points to 7.78 percent in the quarter from 10.55 percent in the last year period.
Nonperforming assets to total loans was 2.47 percent in the quarter, down from 3.32 percent in the last year period.
Book value per share was $16.44 for the quarter, up 6.89 percent or $1.06 compared to $15.38 for the same period last year.
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