secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001437749-24-012555
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924012555/0001437749-24-012555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924012555/atlo20240418_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-012555

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer