Ames National Q2 net income falls 29% to $4.2M on lower PPP fees, tax charge

AMES NATIONAL CORP

EPS of $0.46 vs $0.64 in Q2 2021; six-month EPS $1.03 vs $1.30.
Net interest margin 2.57%, down 27 bps YoY; PPP fees $15K vs $1.3M.
Non-recurring $780K deferred tax charge from Iowa franchise tax rate reduction.
Quarterly dividend maintained at $0.27 per share, payable Aug 15, 2022.
Completed share repurchase of 100K shares at avg $23.01 for $2.3M.

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