Ames National Q3 net income $5.5M ($0.62/share), down from $6.7M in 2021

AMES NATIONAL CORP

Net income $5.5M ($0.62 per share) vs $6.7M ($0.74) in Q3 2021; nine months $14.9M vs $18.6M.
Net interest margin narrowed to 2.63% from 2.97%, pressured by lower PPP fees and higher deposit costs.
Credit for loan losses of $520K in Q3 2022, reflecting improved portfolio quality and lower specific reserves.
Quarterly dividend maintained at $0.27 per share, payable Nov 15, 2022 to holders of record Nov 1.
Total assets flat at $2.09B; equity fell to $137.3M from $210.4M due to unrealized investment losses.

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