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HWBK vs QNBC // PIOTROSKI F-SCORE QUALITY

Hawthorn Bancshares Inc. (NASDAQ) VS. QNB Corp. (NASDAQ) • 15-METRIC TALLY: HWBK 4 — QNBC 2
■ METRIC PARITY
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (HWBK VS. QNBC) EMERALD CELL = QUANTITATIVE EDGE
INSTITUTIONAL METRIC HWBK QNBC SPREAD (A - B) ADVANTAGE DEDICATED URL
Gross Profit Margin — — — TIE /gross-margins <GO>
Return on Invested Capital (ROIC) 13.70% 10.90% +2.80 HWBK /roic <GO>
EV/EBITDA & P/E Valuation — — — TIE /valuation <GO>
Free Cash Flow Yield 7.87% 5.67% +2.20 HWBK /fcf-yield <GO>
Operating Margin — — — TIE /operating-margins <GO>
Net Profit Margin — — — TIE /net-margins <GO>
Revenue Growth (YoY) — — — TIE /revenue-growth <GO>
Dividend Yield & FCF Payout Safety 1.87% 1.71% +0.16 HWBK /dividend-safety <GO>
Altman Z-Score & Debt/Equity — — — TIE /balance-sheet <GO>
Piotroski F-Score Quality ACTIVE 5/9 5/9 0.00 TIE /piotroski-score <GO>
Options Implied Move & Put/Call Skew — — — TIE /options-implied-move <GO>
RSI-14 & 200D SMA Momentum 52.0 72.2 -20.25 QNBC /rsi-technicals <GO>
10Y Yield & FRED Macro Beta — — — TIE /macro-sensitivity <GO>
Forward P/E Multiple 11.3x 19.3x -8.00 HWBK /forward-pe <GO>
Enterprise Scale & Market Cap $290.4M $293.1M -$2.8M QNBC /market-cap <GO>
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
FISCAL YEAR HWBK REV QNBC REV HWBK GROSS % QNBC GROSS % HWBK FCF QNBC FCF
FY 2025 $0 $0 — — $22.8M $16.6M
FY 2024 $0 $0 — — $22.6M $16.2M
FY 2023 $0 $0 — — $17.6M $14.5M
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
HWBK // BETA —
QNBC // BETA —