---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-013415"
form_type: "8-K"
ticker: "ATLO"
cik: "0001132651"
company_name: "AMES NATIONAL CORP"
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T06:14:07.806773+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Ames National Corp enters $5M revolver, elects directors at annual meeting

## Summary
- Entered $5M revolving credit facility maturing April 25, 2026; variable rate at prime minus 0.5% (initially 8.0%).
- Facility secured by pledge of all shares of subsidiary Reliance State Bank; proceeds for working capital and corporate purposes.
- Shareholders elected four directors: Lisa M. Eslinger, Everett S. Miles, John L. Pierschbacher, and Scot A. Trost for three-year terms.
- Ratified FORVIS, LLP as independent auditor for 2024: 6.79M for, 18K against, 37K abstain.
- Credit agreement includes financial covenants on Tier 1 Capital, return on assets, and substandard-impaired loans.

## SEC filing metadata
- accession: 0001437749-24-013415
- form_type: 8-K
- ticker: ATLO
- cik: 0001132651
- company_name: AMES NATIONAL CORP
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/atlo20240426_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-013415
- JSON: https://secwatch.observer/filing/0001437749-24-013415.json
- Plain text: https://secwatch.observer/filing/0001437749-24-013415.txt

## Key facts
- Debt Financings
  AMES NATIONAL CORP incurred revolving credit of up to five million dollars with Green Belt Bank & Trust of Iowa Falls, Iowa at variable rate equal to the Bank Prime Loan Rate, as published in the Federal Res maturing April 25, 2026.
  - Instrument: revolving credit
  - Principal: up to five million dollars
  - Counterparty: Green Belt Bank & Trust of Iowa Falls, Iowa
  - Rate: variable rate equal to the Bank Prime Loan Rate, as published in the Federal Res
  - Maturity: April 25, 2026
  - Event: incurrence
  source text: On April 25, 2024, Ames National Corporation (the “Company”) entered into a promissory note and related business loan agreement (collectively, the “Credit Agreement”) with Green Belt Bank & Trust of Iowa Falls, Iowa (the “Lender”), providing for a revolving line of credit facility in an amount of up to five million dollars maturing on April 25, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm
- Material Agreements
  AMES NATIONAL CORP entered into Credit Agreement with Green Belt Bank & Trust of Iowa Falls, Iowa valued at five million dollars (effective 2024-04-25).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Green Belt Bank & Trust of Iowa Falls, Iowa
  - Value: five million dollars
  - Effective: 2024-04-25
  source text: On April 25, 2024, Ames National Corporation (the “Company”) entered into a promissory note and related business loan agreement (collectively, the “Credit Agreement”) with Green Belt Bank & Trust of Iowa Falls, Iowa (the “Lender”), providing for a revolving line of credit facility in an amount of up to five million dollars maturing on April 25, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm
- Shareholder Votes
  AMES NATIONAL CORP shareholders approved Election of Directors for a three-year term at the 2024-04-24 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2024-04-24
  source text: The voting results on the election of directors for a three-year term were as follows: In Favor Votes Withheld Broker Non-Votes Lisa M. Eslinger 3,645,838 253,254 2,942,797 Everett S. Miles 3,829,991 69,101 2,942,797 John L. Pierschbacher 3,669,699 229,393 2,942,797 Scot A. Trost 3,852,329 46,763 2,942,797
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm
- Shareholder Votes
  AMES NATIONAL CORP shareholders approved Ratification of the appointment of FORVIS, LLP as the Company's independent registered public accounting firm for 2024 at the 2024-04-24 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2024-04-24
  source text: The voting results on the ratification of the appointment of FORVIS, LLP as the Company’s independent registered public accounting firm were as follows: For Against Abstain 6,786,741 18,161 36,987
  evidence_url: https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm

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