secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0001437749-23-028680
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ames National Q3 net income falls 47% to $2.9M; net interest margin narrows to 2.11%
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- Q3 2023 net income $2.9M ($0.33/diluted share) vs $5.5M ($0.62) in Q3 2022; nine-month net income $8.7M ($0.97) vs $14.9M ($1.64).
- Net interest income declined 21.8% to $10.7M; net interest margin fell to 2.11% from 2.71% due to higher deposit costs.
- Total deposits decreased 2% to $1.83B; loans increased to $1.23B; BTFP borrowings were $83.3M at quarter end.
- Efficiency ratio worsened to 75.1% from 59.5%; credit loss benefit of $274K vs $520K benefit in prior year.
- Quarterly cash dividend of $0.27 per share declared, payable Nov 15 to holders of record Nov 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923028680/0001437749-23-028680-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774923028680/atlo20231019_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-028680

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