Hawthorn Bancshares (HWBK) in Lee's Summit, Mo., has repaid $12 million of the $30.2 million in funds it received under the Troubled Asset Relief Program.
The $1.2 billion-asset company said Wednesday that it redeemed 12,000 shares of preferred stock issued to the Treasury Department in December 2008. The bank completed the repayment without raising fresh capital.
The company reported in March that it earned roughly $868,000 in 2011, compared with a $5.5 million loss a year earlier. At March 31, Hawthorn said its Tier 1 capital ratio was 15.45%.
