---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-010813"
form_type: "8-K"
ticker: "ATLO"
cik: "0001132651"
company_name: "AMES NATIONAL CORP"
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:08:40.078470+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ames National Q1 2023 net income $3.2M ($0.36/sh), down 38% YoY from $5.1M ($0.57/sh)

## Summary
- Net interest margin fell to 2.23% from 2.55% YoY; net interest income $11.7M, down 11%.
- Deposit interest expense surged $3.8M due to Fed rate hikes; credit loss expense $212K vs benefit last year.
- Noninterest income down 12% to $2.3M; efficiency ratio worsened to 70.7% from 59.7%.
- Deposits $1.90B, down 3% YoY; borrowed $75M from Federal Reserve BTFP as of March 31.
- Quarterly dividend $0.27/sh payable May 15, 2023; book value $17.69.

## SEC filing metadata
- accession: 0001437749-23-010813
- form_type: 8-K
- ticker: ATLO
- cik: 0001132651
- company_name: AMES NATIONAL CORP
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1132651/000143774923010813/0001437749-23-010813-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1132651/000143774923010813/atlo20230420_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-010813
- JSON: https://secwatch.observer/filing/0001437749-23-010813.json
- Plain text: https://secwatch.observer/filing/0001437749-23-010813.txt

## Key facts
- Earnings Releases
  AMES NATIONAL CORP reported the first quarter of 2023 results: net income $3.2 million, EPS $0.36 per share.
  - Period: the first quarter of 2023
  - Net income: $3.2 million
  - EPS: $0.36 per share
  - Result: reported results
  source text: Ames National Corporation (Nasdaq: ATLO; the “Company”) today reported net income for the first quarter of 2023 of $3.2 million, or $0.36 per share, compared to $5.1 million, or $0.57 per share, earned in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774923010813/0001437749-23-010813-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.