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Exhibit 99.1 Hawthorn Bancshares Reports Results for Three and Six Months Ended June 30 , 2021 Second Quarter 2021 Results • Net income of $ 4.9 million , or $ 0.74 per diluted share • Net interest margin , fully taxable equivalent ( " FTE " ) of 3.40 % • Return on average assets and equity of 1.14 % and 14.64 % , respectively • Loans increased $ 18 million , or 1.4 % , compared to the linked quarter • Deposits decreased $ 13 million , or 0.9 % , compared to the linked quarter _ Jefferson City , MO - July 29 , 2021 Hawthorn Bancshares Inc. ( NASDAQ : HWBK ) , ( the " Company " or " HWBK " ) reported net income of $ 4.9 million for the second quarter 2021 , a decrease of $ 0.9 million compared to the linked first quarter 2021 ( " linked quarter " ) and an increase of $ 1.6 million from the second quarter 2020 ( the " prior year quarter " ) . Earnings per diluted share ( " EPS " ) was $ 0.74 for the second quarter 2021 compared to $ 0.88 and $ 0.49 for the linked quarter and prior year quarter , respectively . Net income and EPS for the second quarter 2021 decreased from the linked quarter due in part to lower net interest income driven by lower PPP loan fee income , in addition to higher provision expense , described in more detail below . Chairman David T. Turner commented , " In the second quarter we started to see some indications of a return to normalcy since the beginning of the pandemic with our customers across the bank . For this we are very encouraged . Hawthorn Bank continues to be well positioned during this recovery . Our overall asset quality remains very strong . We continue to closely monitor our portfolio of non- performing loans which we saw spike last year as a result of the pandemic . We saw stronger organic loan growth during the quarter . Excluding the impact of PPP loans on our portfolio , we achieved $ 24.4 million or 2.0 % loan growth in the second quarter as compared to the linked quarter . Speaking of the PPP loan programs , we successfully closed over $ 47 million in new loans in Round 2 and this is in addition to over $ 88 million we accomplished during Round 1. Approximately 93 % of the PPP Round 1 loans were forgiven and the related fees recognized by the end of the second quarter . At the end of the second quarter , we had $ 3.8 million in PPP loan fees , primarily from Round 2 which will be recognized in future periods as the loans are forgiven . " Turner continued , " As we transition from unprecedented and challenging times to a more familiar and normal state , we continue to deliver strong financial results . In the second quarter we earned $ 4.9 million in net income , which translates into $ 0.74 per share , and an ROA and ROE of 1.14 % and 14.64 % , respectively . " Highlights • Earnings - Net income in the second quarter 2021 was $ 4.9 million and EPS was $ 0.74 . Pre- tax pre - provision income ( " PTPP " ) of $ 6.5 million for the second quarter decreased $ 0.7 million , or 10 % , from the linked quarter , and increased $ 1.6 million , or 32 % , from the prior year quarter .