Ames National Q1 net income $2.3M ($0.26/share) vs $3.2M ($0.36) YoY

AMES NATIONAL CORP

Net income fell 28% to $2.3M; EPS $0.26 vs $0.36 in Q1 2023.
Net interest margin narrowed to 2.13% from 2.32% on higher deposit costs.
Loans grew 4% to $1.27B but deposits declined 1% to $1.87B.
Credit loss expense of $169K vs $275K YoY; net recoveries vs charge-offs.
Efficiency ratio worsened to 77.9% from 70.2%; declared $0.27 dividend payable May 15.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMES NATIONAL CORP reported the first quarter of 2024 results: net income $2.3 million, EPS $0.26 per share.

Period: the first quarter of 2024
Net income: $2.3 million
EPS: $0.26 per share
Result: reported results

Exact text from the filing

Ames National Corporation (Nasdaq: ATLO; the “Company”) today reported net income for the first quarter of 2024 of $2.3 million, or $0.26 per share

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AMES NATIONAL CORP filing history →

Source: SEC EDGAR

accession 0001437749-24-012555

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