secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001437749-24-013415
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/0001437749-24-013415-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924013415/atlo20240426_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-013415

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