---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020440"
form_type: "8-K"
ticker: "ATLO"
cik: "0001132651"
company_name: "AMES NATIONAL CORP"
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T04:48:50.200819+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-020440
- form_type: 8-K
- ticker: ATLO
- cik: 0001132651
- company_name: AMES NATIONAL CORP
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/0001437749-23-020440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/atlo20230720_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020440
- JSON: https://secwatch.observer/filing/0001437749-23-020440.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020440.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/0001437749-23-020440-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/0001437749-23-020440-index.htm

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