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Hawthorn Bancshares vs Ames National: HWBK and ATLO compared
Hawthorn Bancshares is the larger company: $23.0M of revenue in its latest quarter (Q3 2026) against $20.4M for Ames National (Q3 2026). Ames National is growing faster (+23% against +12% a year earlier). Ames National is more profitable, with an operating margin of 44.7% against 35.0%.
Where the money goes: HWBK and ATLO
Hawthorn Bancshares (HWBK) · Q3 2026
Hawthorn Bancshares, Q3 2026: revenue $23.0M (+12% year over year), operating margin 35.0%, net earnings $7.1M, operating cash flow −$1.8M. The chart follows the revenue to costs, profit and cash.
Ames National (ATLO) · Q3 2026
Ames National, Q3 2026: revenue $20.4M (+23% year over year), operating margin 44.7%, net earnings $7.0M, operating cash flow $5.1M. The chart follows the revenue to costs, profit and cash.
| Hawthorn Bancshares (HWBK) | Ames National (ATLO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $23.0M | $20.4M |
| Revenue growth, Y/Y | +12% | +23% |
| Operating margin | 35.0% | 44.7% |
| Net earnings | $7.1M | $7.0M |
| Net margin | 30.7% | 34.5% |
| Operating cash flow | −$1.8M | $5.1M |
| Free cash flow | — | $4.0M |
Where the revenue comes from
Hawthorn Bancshares
- Net interest income: $19.3M (84%)
- Noninterest income: $3.7M (16%)
Ames National
- Net interest income: $17.0M (83%)
- Noninterest income: $3.5M (17%)
Questions
Which is bigger, Hawthorn Bancshares or Ames National?
Hawthorn Bancshares is the larger company: $23.0M of revenue in its latest quarter (Q3 2026) against $20.4M for Ames National (Q3 2026).
Is Hawthorn Bancshares or Ames National growing faster?
Ames National is growing faster (+23% against +12% a year earlier).
Which is more profitable, Hawthorn Bancshares or Ames National?
Ames National is more profitable, with an operating margin of 44.7% against 35.0%.
More: Hawthorn Bancshares earnings · how Hawthorn Bancshares makes money · Ames National earnings · how Ames National makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 9, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.