Hawthorn Bank saw its 2014 earnings jump 76 percent to $7.7 million, the highest level in seven years, mainly due to paying off its Troubled Asset Relief Program debt in full.
Lee's Summit-based Hawthorn Bancshares Inc. (Nasdaq: HWBK), the parent of Hawthorn Bank, borrowed $30.26 million from TARP on Dec. 19, 2008. The company made the last payment on the debt and accrued dividends in May 2013. The following month it spent $540,000 to repurchase a warrant owned by the U.S. Department of Treasury,…
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