---
schema_version: "secwatch.filing_event.v1"
accession: "0000893847-26-000058"
form_type: "8-K"
ticker: "HWBK"
cik: "0000893847"
company_name: "HAWTHORN BANCSHARES, INC."
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T02:37:19.843562+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hawthorn Bancshares to acquire FSC Bancshares for ~$28.3M in cash/stock

## Summary
- Total consideration approx. $28.3M: 413,101 shares of HWBK stock ($34.57 close) plus $14M cash.
- Expected 20% EPS accretion on fully phased-in basis; tangible book value dilution ~9.8%, earned back in ~3.0 years.
- Combined pro forma assets of ~$2.2B; adds $384M in assets and 9 branches across northern Missouri.
- FSC directors/executives owning ~37.9% of FSC shares have agreed to vote in favor; deal expected to close Q3 2026.
- Transaction requires FSC shareholder approval, regulatory consents, and customary closing conditions.

## SEC filing metadata
- accession: 0000893847-26-000058
- form_type: 8-K
- ticker: HWBK
- cik: 0000893847
- company_name: HAWTHORN BANCSHARES, INC.
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/893847/000089384726000058/0000893847-26-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/893847/000089384726000058/hwbk-20260429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000893847-26-000058
- JSON: https://secwatch.observer/filing/0000893847-26-000058.json
- Plain text: https://secwatch.observer/filing/0000893847-26-000058.txt

## Source-grounded claims
- claim_id: 331dc9308309bbd53c4a34fd100e0e6dcab7502a
  claim: HAWTHORN BANCSHARES, INC. entered into Reorganization Agreement with FSC Bancshares, Inc. valued at approximately $28.3 million (effective 2026-04-29).
  evidence_excerpt: On April 29, 2026, Hawthorn Bancshares, Inc., a Missouri corporation (“HBI”), entered into an Agreement and Plan of Reorganization (the “Reorganization Agreement”), by and among HBI, Hawthorn Holdco, Inc., a Missouri corporation and wholly-owned subsidiary of HBI (“Merger Sub”), and FSC Bancshares, Inc., a Missouri corporation (“FBI”), pursuant to which HBI will acquire FBI.
  evidence_url: https://www.sec.gov/Archives/edgar/data/893847/000089384726000058/0000893847-26-000058-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.