secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0001437749-24-023078
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ames National Q2 net income down 15% to $2.2M; forecast reduced on higher deposit costs
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- Q2 2024 net income $2.2M ($0.24 EPS) vs $2.6M ($0.28 EPS) in Q2 2023.
- Net interest margin narrowed to 2.14% from 2.20% as deposit expense rose $2.2M.
- Loan portfolio grew 3.9% to $1.28B; credit loss expense increased to $182K.
- Company declared $0.27 quarterly dividend payable Aug 15, 2024.
- Management expects 2024 earnings will miss forecast due to higher interest expense.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924023078/0001437749-24-023078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924023078/atlo20240524_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-023078

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