secwatch.observer — SEC 8-K summary
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Issuer:     AMES NATIONAL CORP (ATLO)
CIK:        0001132651
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001437749-24-031552
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ames National Q3 net income falls 24% to $2.2M; credit loss expense and consultant fees weigh
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- Q3 net income $2.2M ($0.25 EPS) vs $2.9M ($0.33) a year ago; 9-month EPS $0.75 vs $0.97.
- Net interest margin improved to 2.21% from 2.11%, but noninterest expense rose 7.2% partly due to $449K consultant fees.
- Credit loss expense of $371K in Q3 vs a benefit of $274K in prior-year quarter; total reserve at 1.34% of loans.
- Loans grew 5.2% to $1.30B; substandard loans increased to $28.3M from $24.0M.
- Quarterly cash dividend maintained at $0.20/share, payable Nov 15, 2024 to holders of record Nov 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924031552/0001437749-24-031552-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1132651/000143774924031552/atlo20240820_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-031552

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