Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SMITH JAMES E/MO
   2. Issuer Name and Ticker or Trading Symbol
HAWTHORN BANCSHARES, INC. [HWBK] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman & CEO
(Last)
(First)
(Middle)
517 SOUTH SECOND STREET		 3. Date of Earliest Transaction (Month/Day/Year)
11/13/2007
(Street)

CLINTON, MO 64735		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               20,477.6187 (1) D  
Common Stock 11/13/2007   P   100 A $ 28.75 200 I Shares Held in IRA
Common Stock 11/13/2007   P   100 A $ 28.75 400 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 16.33             12/04/2001(2) 12/04/2010 Common Stock 7,959   7,959 D  
Employee Stock Option (right to buy) $ 18.67             02/14/2003(3) 02/14/2012 Common Stock 7,500   7,500 D  
Employee Stock Option (right to buy) $ 26.57             03/03/2004(4) 03/03/2013 Common Stock 8,323   8,323 D  
Employee Stock Option (right to buy) $ 35.25             02/19/2005(5) 02/19/2014 Commong Stock 7,376   7,376 D  
Employee Stock Option (right to buy) $ 28.45             04/21/2006(6) 04/21/2015 Common Stock 9,561   9,561 D  
Employee Stock Option (right to buy) $ 29.95             03/03/2007(7) 03/03/2016 Common Stock 9,516   9,516 D  
Employee Stock Option (right to buy) $ 33.5             04/27/2008(8) 04/27/2017 Common Stock 9,656   9,656 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SMITH JAMES E/MO
517 SOUTH SECOND STREET
CLINTON, MO 64735		   X     Chairman & CEO  

Signatures

 /s/ James E. Smith   12/24/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes shares acquired since last report pursuant to Company DRIP program.
(2) 25% per year beginning 2001-12-04.
(3) 25% per year beginning 2003-02-14.
(4) 1,222 vest 03/03/2004. 1,222 vest 03/03/2005. 2,449 vest 03/03/2006. 3,430 vest 03/03 2007
(5) Qualified: 252 vest 02/19/2007. 2,836 vest 02/19/2008. 2,836 vest 02/19/2009. Nonqualified: 1,452 vest 02/19/2005.
(6) All options are non-qualified and vest 04/21/2006.
(7) All options are non-qualified and vest 03/03/2007.
(8) All options are non-qualified and vest 4/27/08.

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