secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0001437749-23-010813
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923010813/0001437749-23-010813-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923010813/atlo20230420_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-010813

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer