ATLO Q3 net income $7.0M, EPS $0.80 vs $0.51; NIM 3.38% as net interest income rises 20.7%

AMES NATIONAL CORP

Q3 2026 net income $7.0M, or $0.80/share, vs $4.6M/$0.51 a year ago; nine-month net income $18.9M, or $2.14/share vs $1.41.
Net interest income $17.0M, up 20.7% YoY; net interest margin 3.38% vs 2.83%; efficiency ratio improved to 54.97% from 61.76%.
Noninterest expense rose 9.6% to $11.2M, including $600K of consultant fees for contract negotiations expected to continue through 2026.
Credit loss expense $66K vs $627K; Q3 net charge-offs $745K vs $344K of recoveries. Substandard loans rose to $52.0M from $29.7M on a 1-4 family relationship and multi-family weakness.
Post-quarter, a $3M substandard-impaired nonaccrual agricultural loan was paid in full, with ~$300K of nonaccrual interest collected in October 2026.

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