Ames National Q2 net income $5.9M ($0.67 EPS) vs $4.5M ($0.51) YoY; NIM expands to 3.18%

AMES NATIONAL CORP

Net interest income rose 21.7% to $16.4M; net interest margin improved to 3.18% from 2.65%.
Credit loss expense of $208K vs $108K YoY; net charge-offs fell to $255K from $1.1M.
Substandard loans jumped to $50.7M from $23.5M; past-due loans doubled to $22.5M.
Noninterest expense up 7.8% to $11.2M, including $300K consultant fees for contract negotiations.
Quarterly dividend maintained at $0.24/share; no shares repurchased in Q2.

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