Ames National Q1 2022 net income $5.1M ($0.57 EPS), down 14.6% YoY from $6.0M

AMES NATIONAL CORP

Net income $5.1M ($0.57 diluted EPS) vs $6.0M ($0.66) in Q1 2021, a 14.6% decline.
Net interest margin fell to 2.55% from 2.86%; net interest income down 4% to $13.2M.
PPP fee income dropped to $200K from $840K; nonaccrual interest income fell to $7K from $335K.
Deposits grew 6% to $1.96B; stockholders' equity decreased to $176.7M due to unrealized investment losses.
Quarterly dividend raised to $0.27 per share, payable May 13, 2022 to holders of record Apr 29.

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