Ames National Q2 net income falls to $2.6M ($0.28) vs $4.2M; 2023 guidance cut

AMES NATIONAL CORP

Q2 net income $2.6M ($0.28 diluted EPS), down from $4.2M ($0.46); six-month net $5.8M ($0.64) vs $9.3M ($1.03).
Net interest margin fell to 2.20% from 2.63%; efficiency ratio worsened to 77.57% from 61.51%.
Noninterest expense up 7% to $10.6M, including $523K wire fraud loss; credit loss expense $33K vs benefit of $59K.
Management anticipates 2023 earnings will miss prior forecast due to higher deposit interest expense.
Quarterly dividend unchanged at $0.27 per share; payable Aug 15, 2023 to holders of record Aug 1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMES NATIONAL CORP reported the six months ended June 30, 2023 results: net income $5.8 million, EPS $0.64 per share.

Period: the six months ended June 30, 2023
Net income: $5.8 million
EPS: $0.64 per share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, net income for the Company totaled $5.8 million or $0.64 per share, compared to $9.3 million or $1.03 per share earned in 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMES NATIONAL CORP reported the second quarter of 2023 results: net income $2.6 million, EPS $0.28 per share.

Period: the second quarter of 2023
Net income: $2.6 million
EPS: $0.28 per share
Result: reported results

Exact text from the filing

Ames National Corporation (Nasdaq: ATLO; the “Company”) today reported net income for the second quarter of 2023 of $2.6 million, or $0.28 per share, compared to $4.2 million, or $0.46 per share, earned in the second quarter of 2022.

View on SEC.gov

Browse all earnings releases →

AMES NATIONAL CORP filing history →

Source: SEC EDGAR

accession 0001437749-23-020440

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.