---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012555"
form_type: "8-K"
ticker: "ATLO"
cik: "0001132651"
company_name: "AMES NATIONAL CORP"
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T15:13:19.104532+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-012555
- form_type: 8-K
- ticker: ATLO
- cik: 0001132651
- company_name: AMES NATIONAL CORP
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1132651/000143774924012555/0001437749-24-012555-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1132651/000143774924012555/atlo20240418_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012555
- JSON: https://secwatch.observer/filing/0001437749-24-012555.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012555.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774924012555/0001437749-24-012555-index.htm

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