secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001437749-23-020440
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/0001437749-23-020440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923020440/atlo20230720_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-020440

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