Hawthorn Bancshares, Inc. (HWBK) Revenue History
Annual and quarterly revenue from 1996 to present
HWBK Revenue Over Time (1996–2025)
HWBK Revenue Growth History
20 of 29 years with positive growth- FY1996 revenue growth
- N/A
- FY1997 revenue growth
- +20.5%
- FY1998 revenue growth
- +41.6%
- FY1999 revenue growth
- +70.8%
- FY2000 revenue growth
- +42.4%
- FY2001 revenue growth
- +9.1%
- FY2002 revenue growth
- -14.8%
- FY2003 revenue growth
- -2.0%
- FY2004 revenue growth
- +2.6%
- FY2005 revenue growth
- +38.0%
- FY2006 revenue growth
- +23.9%
- FY2007 revenue growth
- +5.5%
- FY2008 revenue growth
- -8.0%
- FY2009 revenue growth
- -3.6%
- FY2010 revenue growth
- -7.5%
- FY2011 revenue growth
- -9.5%
- FY2012 revenue growth
- -6.1%
- FY2013 revenue growth
- -3.9%
- FY2014 revenue growth
- -5.8%
- FY2015 revenue growth
- +3.1%
- FY2016 revenue growth
- +0.0%
- FY2017 revenue growth
- +9.0%
- FY2018 revenue growth
- +12.5%
- FY2019 revenue growth
- +8.3%
- FY2020 revenue growth
- +7.0%
- FY2021 revenue growth
- +4.3%
- FY2022 revenue growth
- +2.2%
- FY2023 revenue growth
- +5.7%
- FY2024 revenue growth
- +24.7%
- FY2025 revenue growth
- +2.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $28.7M | — |
| Q4 2025 | $28.9M | — |
| Q3 2025 | $28.8M | — |
| Q2 2025 | $27.5M | — |
| Q1 2025 | $26.9M | — |
| Q4 2024 | $27.4M | — |
| Q3 2024 | $27.6M | — |
| Q2 2024 | $27.5M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
HWBK's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
HWBK Revenue Analysis (1996–2025)
Current Revenue & Growth
As of July 8, 2026, Hawthorn Bancshares, Inc. (HWBK) generated trailing twelve-month (TTM) revenue of $113.9 million, reflecting solid growth of +6.8% year-over-year. The most recent quarter (Q1 2026) recorded $28.7 million in revenue, down 0.5% sequentially.
Historical Growth Trajectory
HWBK's 5-year compound annual growth rate (CAGR) stands at +7.5%, indicating steady revenue expansion. The 3-year CAGR of +10.4% exceeds the 5-year average, indicating an acceleration in the most recent period. Hawthorn Bancshares, Inc.'s highest annual revenue of $112.1 million was recorded in 2025, an all-time high.
Revenue by Segment
HWBK's revenue is primarily driven by Banking (40%), Service (38%), and Fiduciary and Trust (23%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Financial Services sector peers — including CZWI, BFST, and MOFG. Compare HWBK vs CZWI →
HWBK Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HWBKCurrent | $114M | +6.8% | +7.5% | 26.0% | |
 CZWI | $90M | - | - | 7.0% | |
 BFST | $512M | - | - | 22.2% | |
 MOFG | $206M | - | - | -40.8% | |
 QCRH | $597M | - | - | 22.8% | |
 SBCF | $870M | - | - | 21.4% |
HWBK Historical Revenue Data (1996–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $112.1M | - | $79.9M | 71.3% | $29.1M | 26.0% |
| 2024 | $109.7M | - | $71.9M | 65.5% | $22.4M | 20.4% |
| 2023 | $88.0M | - | $52.8M | 60.0% | $432K | 0.5% |
| 2022 | $83.2M | - | $73.6M | 88.5% | $25.1M | 30.1% |
| 2021 | $81.4M | - | $77.2M | 94.8% | $28.2M | 34.7% |
| 2020 | $78.0M | - | $62.5M | 80.1% | $17.5M | 22.4% |
| 2019 | $72.9M | - | $56.6M | 77.5% | $19.9M | 27.3% |
| 2018 | $67.4M | - | $52.7M | 78.2% | $12.4M | 18.4% |
| 2017 | $59.9M | - | $50.1M | 83.7% | $11.3M | 18.9% |
| 2016 | $54.9M | - | $47.8M | 87.1% | $11.0M | 20.1% |
| 2015 | $54.9M | - | $49.7M | 90.4% | $13.2M | 24.0% |
| 2014 | $53.2M | - | $48.2M | 90.5% | $11.7M | 22.0% |
| 2013 | $56.5M | - | $48.2M | 85.2% | $7.4M | 13.1% |
| 2012 | $58.8M | - | $42.0M | 71.4% | $3.4M | 5.7% |
| 2011 | $62.7M | - | $40.3M | 64.3% | $3.4M | 5.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
30+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
HWBK — Frequently Asked Questions
Quick answers to the most common questions about buying HWBK stock.
Is HWBK's revenue growth accelerating or slowing?
HWBK revenue growth is holding steady at +6.8% year-over-year. TTM revenue is $114M. The current growth rate closely tracks the 5-year CAGR of +7.5%, signalling consistent execution.
What is HWBK's revenue history from 1996 to 2026?
Hawthorn Bancshares, Inc. (HWBK) revenue history spans 1996 to 2026. TTM revenue as of 2026 is $114M, growing at +6.8% YoY. The 5-year CAGR is +7.5%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HWBK's long-term revenue growth rate (CAGR)?
Hawthorn Bancshares, Inc.'s 5-year revenue CAGR of +7.5% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +6.8% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HWBK.
Why does HWBK's quarterly revenue fluctuate?
HWBK quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Hawthorn Bancshares, Inc.'s revenue data from 1996 to 2026 shows full historical quarterly detail on this page.
How is HWBK's revenue distributed by segment?
HWBK reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HWBK's revenue compare to industry peers?
Hawthorn Bancshares, Inc. (HWBK) with TTM revenue of $114M and +6.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.