Declared Dividend • May 20
First quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 8.3% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2026 earnings released: EPS: US$0.67 (vs US$0.39 in 1Q 2025) First quarter 2026 results: EPS: US$0.67 (up from US$0.39 in 1Q 2025). Revenue: US$18.6m (up 28% from 1Q 2025). Net income: US$5.96m (up 73% from 1Q 2025). Profit margin: 32% (up from 24% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Buy Or Sell Opportunity • Mar 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to US$27.81. The fair value is estimated to be US$23.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.4%. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: US$2.14 (vs US$1.14 in FY 2024) Full year 2025 results: EPS: US$2.14 (up from US$1.14 in FY 2024). Revenue: US$65.0m (up 22% from FY 2024). Net income: US$19.0m (up 86% from FY 2024). Profit margin: 29% (up from 19% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.75% (up from 2.22% in FY 2024). Cost-to-income ratio: 62.7% (down from 76.6% in FY 2024). Non-performing loans: 1.19% (up from 1.17% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 25
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to US$27.76. The fair value is estimated to be US$23.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.4%. Announcement • Feb 16
Ames National Corporation, Annual General Meeting, Apr 29, 2026 Ames National Corporation, Annual General Meeting, Apr 29, 2026. Buy Or Sell Opportunity • Feb 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to US$27.95. The fair value is estimated to be US$23.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.4%. Reported Earnings • Jan 25
Full year 2025 earnings released: EPS: US$2.14 (vs US$1.14 in FY 2024) Full year 2025 results: EPS: US$2.14 (up from US$1.14 in FY 2024). Revenue: US$65.8m (up 23% from FY 2024). Net income: US$19.0m (up 86% from FY 2024). Profit margin: 29% (up from 19% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.75% (up from 2.22% in FY 2024). Cost-to-income ratio: 62.7% (down from 76.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Upcoming Dividend • Nov 24
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 01 December 2025. Payment date: 15 December 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.5%). Announcement • Nov 14
Ames National Corporation Declares Cash Dividend, Payable on December 15, 2025 Ames National Corporation declared a cash dividend of $0.20 per common share. The dividend is payable December 15, 2025, to shareholders of record at the close of business on December 1, 2025. Reported Earnings • Oct 20
Third quarter 2025 earnings released: EPS: US$0.51 (vs US$0.25 in 3Q 2024) Third quarter 2025 results: EPS: US$0.51 (up from US$0.25 in 3Q 2024). Revenue: US$16.0m (up 22% from 3Q 2024). Net income: US$4.56m (up 106% from 3Q 2024). Profit margin: 29% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 22
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 29 August 2025. Payment date: 15 September 2025. The company last paid an ordinary dividend in November 2014. The average dividend yield among industry peers is 2.5%. Buy Or Sell Opportunity • Aug 15
Now 21% undervalued Over the last 90 days, the stock has risen 7.1% to US$19.06. The fair value is estimated to be US$24.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has declined by 26%. Reported Earnings • Jul 21
Second quarter 2025 earnings released: EPS: US$0.51 (vs US$0.24 in 2Q 2024) Second quarter 2025 results: EPS: US$0.51 (up from US$0.24 in 2Q 2024). Revenue: US$16.0m (up 20% from 2Q 2024). Net income: US$4.51m (up 107% from 2Q 2024). Profit margin: 28% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 23
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 30 May 2025. Payment date: 13 June 2025. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (2.7%). Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. Independent Director Jeff Baker was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 20
First quarter 2025 earnings released: EPS: US$0.39 (vs US$0.26 in 1Q 2024) First quarter 2025 results: EPS: US$0.39 (up from US$0.26 in 1Q 2024). Revenue: US$14.5m (up 12% from 1Q 2024). Net income: US$3.44m (up 49% from 1Q 2024). Profit margin: 24% (up from 18% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Apr 18
Ames National Corporation Reports Net Loan Charge Offs for the Quarter Ended March 31, 2025 Ames National Corporation reported net loan charge offs for the quarter ended March 31, 2025. For the quarter, the company reported Net loan charge-offs of $48,000 compared to net loan recoveries of $4,000 for the quarter ended March 31, 2024. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: US$1.14 (vs US$1.20 in FY 2023) Full year 2024 results: EPS: US$1.14 (down from US$1.20 in FY 2023). Revenue: US$53.5m (up 2.2% from FY 2023). Net income: US$10.2m (down 5.5% from FY 2023). Profit margin: 19% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 2.22% (up from 2.20% in FY 2023). Cost-to-income ratio: 76.6% (up from 74.6% in FY 2023). Non-performing loans: 1.17% (up from 1.08% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Feb 15
Ames National Corporation Declares Cash Dividend on Common Share, Payable June 13, 2025 On February 12, 2025, the Board of Directors of Ames National Corporation declared a cash dividend of $0.20 per common share. The dividend is payable June 13, 2025, to shareholders of record at the close of business on May 30, 2025. The quarterly dividend will be paid a month later than usual. Previously, dividends were typically declared in one quarter and paid in the subsequent quarter. Going forward, the Company expects, subject to the discretion of the Board of Directors, to declare and pay dividends in the same quarter, except that the Company intends to defer a decision on declaring a cash dividend in the second quarter of 2025. Reported Earnings • Jan 27
Full year 2024 earnings released: EPS: US$1.14 (vs US$1.20 in FY 2023) Full year 2024 results: EPS: US$1.14 (down from US$1.20 in FY 2023). Revenue: US$54.2m (up 3.7% from FY 2023). Net income: US$10.2m (down 5.5% from FY 2023). Profit margin: 19% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 2.22% (up from 2.20% in FY 2023). Cost-to-income ratio: 76.6% (up from 74.6% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jan 24
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 31 January 2025. Payment date: 14 February 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.5%). Declared Dividend • Nov 18
Dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control. However, EPS has declined by 12% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Oct 20
Third quarter 2024 earnings released: EPS: US$0.25 (vs US$0.33 in 3Q 2023) Third quarter 2024 results: EPS: US$0.25 (down from US$0.33 in 3Q 2023). Revenue: US$13.1m (down 1.5% from 3Q 2023). Net income: US$2.22m (down 24% from 3Q 2023). Profit margin: 17% (down from 22% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Oct 20
Ames National Corporation Declares Quarterly Cash Dividend, Payable on November 15, 2024 On August 14, 2024, the Ames National Corporation declared a quarterly cash dividend on common stock, payable on November 15, 2024 to stockholders of record as of November 1, 2024, equal to $0.20 per share. Announcement • Oct 19
Ames National Corporation Reports Net Loan Charge-Offs for the Third Quarter Ended September 30, 2024 Ames National Corporation reported net loan charge-offs for the third quarter ended September 30, 2024. The company reported net loan charge-offs for the quarter ended September 30, 2024 totaled $10,000 compared to net loan recoveries of $4,000 for the quarter ended September 30, 2023. Declared Dividend • Aug 23
Dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 1st November 2024 Payment date: 15th November 2024 Dividend yield will be 5.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. However, EPS has declined by 11% over the last 5 years so the company would need to reverse this trend. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$18.19, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 11x in the Banks industry in the US. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Jul 25
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 01 August 2024. Payment date: 15 August 2024. The company is paying out more than 100% of its profits and is paying out 91% of its cash flow. Trailing yield: 5.1%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.8%). Reported Earnings • Jul 22
Second quarter 2024 earnings released: EPS: US$0.24 (vs US$0.28 in 2Q 2023) Second quarter 2024 results: EPS: US$0.24 (down from US$0.28 in 2Q 2023). Revenue: US$13.3m (down 2.0% from 2Q 2023). Net income: US$2.18m (down 15% from 2Q 2023). Profit margin: 16% (down from 19% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Declared Dividend • May 16
Dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 1st August 2024 Payment date: 15th August 2024 Dividend yield will be 5.2%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 8.7% to bring the payout ratio under control. However, EPS has declined by 9.8% over the last 5 years so the company would need to reverse this trend. Upcoming Dividend • Apr 23
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 15 May 2024. Payout ratio is on the higher end at 98%, however this is supported by cash flows. Trailing yield: 5.6%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 21
First quarter 2024 earnings released: EPS: US$0.26 (vs US$0.36 in 1Q 2023) First quarter 2024 results: EPS: US$0.26 (down from US$0.36 in 1Q 2023). Revenue: US$12.9m (down 5.4% from 1Q 2023). Net income: US$2.30m (down 28% from 1Q 2023). Profit margin: 18% (down from 23% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: US$1.20 (vs US$2.14 in FY 2022) Full year 2023 results: EPS: US$1.20 (down from US$2.14 in FY 2022). Revenue: US$52.3m (down 17% from FY 2022). Net income: US$10.8m (down 44% from FY 2022). Profit margin: 21% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.20% (down from 2.62% in FY 2022). Cost-to-income ratio: 74.6% (up from 61.4% in FY 2022). Non-performing loans: 1.08% (down from 1.19% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Declared Dividend • Feb 22
Dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 30th April 2024 Payment date: 15th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share declined by 8.0% over the last 5 years, which if continued should see the payout ratio increase to a potentially unsustainable range. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$18.88, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 10x in the Banks industry in the US. Total loss to shareholders of 5.4% over the past three years. Upcoming Dividend • Jan 24
Upcoming dividend of US$0.27 per share at 5.2% yield Eligible shareholders must have bought the stock before 31 January 2024. Payment date: 15 February 2024. Trailing yield: 5.2%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.2%). Reported Earnings • Jan 21
Full year 2023 earnings released: EPS: US$1.20 (vs US$2.14 in FY 2022) Full year 2023 results: EPS: US$1.20 (down from US$2.14 in FY 2022). Revenue: US$53.1m (down 16% from FY 2022). Net income: US$10.8m (down 44% from FY 2022). Profit margin: 20% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.20% (down from 2.55% in FY 2022). Cost-to-income ratio: 74.6% (up from 61.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Nov 12
Ames National Corporation Announces Executive Changes On November 8, 2023, John L. Pierschbacher, who currently serves as the principal financial and accounting officer of Ames National Corporation (the “Company”), notified the Company of his intent to retire as Chief Financial Officer of the Company effective July 5, 2024. On November 8, 2023, Justin C. Clausen (age 36), who currently serves as Chief Accounting Officer of the Company, was appointed to the role of Chief Financial Officer effective July 5, 2024 and, in that capacity, to serve as the principal financial and accounting officer of the Company. Mr. Clausen has been employed by the Company since March, 2020, serving as Chief Accounting Officer since May 2023 and previously as Controller. Prior to joining the Company, Mr. Clausen served as a Senior Accounting Analyst with Principal Financial Group since September 2017 and prior to that in various financial positions with First National Bank of Omaha and a public accounting firm. On November 8, 2023, Michael A. Wilson (age 59), who currently serves as Executive Vice President of Innovation & Corporate Services of the Company, was appointed as Executive Vice President and Chief Lending Officer effective November 9, 2023. Mr. Wilson has been employed by the Company since September, 2022. Prior to joining the Company, Mr. Wilson served as the Chief Lending Officer of Bankers Trust Company of Des Moines, Iowa from April, 2017 to February, 2022, managed a commercial agribusiness team for Metropolitan Life Insurance Company from April 2007 to April, 2017, and began his banking career as a commercial lender in Nebraska and Iowa. Mr. Clausen and Mr. Wilson do not have a direct or material interest in any transaction with the Company or its banking subsidiaries requiring disclosure pursuant to Item 404(a) of Regulation S-K. There is also no arrangements or understandings between them and any other person pursuant to which they were selected for their newly appointed positions, nor are they related to any member of the Board of Directors or any executive officers of the Company, or its banking subsidiaries. Upcoming Dividend • Oct 24
Upcoming dividend of US$0.27 per share at 7.1% yield Eligible shareholders must have bought the stock before 31 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of American dividend payers (5.2%). Higher than average of industry peers (4.0%). Announcement • Oct 22
Ames National Corporation Announces Quarterly Cash Dividend, Payable on November 15, 2023 On August 9, 2023, Ames National Corporation declared a quarterly cash dividend on common stock, payable on November 15, 2023 to stockholders of record as of November 1, 2023, equal to $0.27 per share. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: US$0.33 (vs US$0.62 in 3Q 2022) Third quarter 2023 results: EPS: US$0.33 (down from US$0.62 in 3Q 2022). Revenue: US$13.3m (down 19% from 3Q 2022). Net income: US$2.92m (down 47% from 3Q 2022). Profit margin: 22% (down from 34% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Announcement • Aug 11
Ames National Corporation Declares Cash Dividend, Payable on November 15, 2023 On August 9, 2023, Ames National Corporation declared a cash dividend of $0.27 per common share. The dividend is payable November 15, 2023, to shareholders of record at the close of business on November 1, 2023. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 5 highly experienced directors. President & Director of United Bank & Trust Co. Robert Thomas was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Jul 24
Upcoming dividend of US$0.27 per share at 5.5% yield Eligible shareholders must have bought the stock before 31 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.4%). Reported Earnings • Jul 23
Second quarter 2023 earnings released: EPS: US$0.28 (vs US$0.46 in 2Q 2022) Second quarter 2023 results: EPS: US$0.28 (down from US$0.46 in 2Q 2022). Revenue: US$13.6m (down 16% from 2Q 2022). Net income: US$2.56m (down 39% from 2Q 2022). Profit margin: 19% (down from 26% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Apr 21
Upcoming dividend of US$0.27 per share at 5.4% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 15 May 2023. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.5%). Board Change • Mar 07
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Jeff Baker was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 11
Ames National Corporation Declares Cash Dividend, Payable on May 15, 2023 Ames National Corporation declared a cash dividend of $0.27 per common share. The dividend is payable May 15, 2023, to shareholders of record at the close of business on May 1, 2023. Upcoming Dividend • Jan 24
Upcoming dividend of US$0.27 per share at 4.5% yield Eligible shareholders must have bought the stock before 31 January 2023. Payment date: 15 February 2023. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.0%). Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: US$2.14 (vs US$2.62 in FY 2021) Full year 2022 results: EPS: US$2.14 (down from US$2.62 in FY 2021). Revenue: US$63.8m (down 4.3% from FY 2021). Net income: US$19.3m (down 19% from FY 2021). Profit margin: 30% (down from 36% in FY 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jan 22
Ames National Corporation Declares Quarterly Cash Dividend, Payable on February 15, 2023 On November 9, 2022, Ames National Corporation declared a quarterly cash dividend on common stock, payable on February 15, 2023 to stockholders of record as of February 1, 2023, equal to $0.27 per share. Announcement • Nov 16
Ames National Corporation Declares Cash Dividend, Payable on February 15, 2023 Ames National Corporation declared a cash dividend of $0.27 per common share. The dividend is payable February 15, 2023, to shareholders of record at the close of business on February 1, 2023. Upcoming Dividend • Oct 24
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 31 October 2022. Payment date: 15 November 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.2%). Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$0.62 (vs US$0.74 in 3Q 2021) Third quarter 2022 results: EPS: US$0.62 (down from US$0.74 in 3Q 2021). Revenue: US$16.5m (down 5.5% from 3Q 2021). Net income: US$5.54m (down 17% from 3Q 2021). Profit margin: 34% (down from 39% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Aug 12
Ames National Corporation Declares Cash Dividend, Payable on November 15, 2022 On August 10, 2022, Ames National Corporation declared a cash dividend of $0.27 per common share. The dividend is payable November 15, 2022, to shareholders of record at the close of business on November 1, 2022. Reported Earnings • Jul 24
Second quarter 2022 earnings released: EPS: US$0.46 (vs US$0.64 in 2Q 2021) Second quarter 2022 results: EPS: US$0.46 (down from US$0.64 in 2Q 2021). Revenue: US$16.1m (down 3.6% from 2Q 2021). Net income: US$4.19m (down 29% from 2Q 2021). Profit margin: 26% (down from 35% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 22
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 29 July 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (3.1%). Reported Earnings • May 10
First quarter 2022 earnings released: EPS: US$0.57 (vs US$0.66 in 1Q 2021) First quarter 2022 results: EPS: US$0.57 (down from US$0.66 in 1Q 2021). Revenue: US$15.8m (down 4.6% from 1Q 2021). Net income: US$5.15m (down 15% from 1Q 2021). Profit margin: 33% (down from 36% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 21
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 13 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of American dividend payers (3.7%). Higher than average of industry peers (2.6%). Reported Earnings • Mar 14
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.62 (up from US$2.06 in FY 2020). Revenue: US$67.3m (up 14% from FY 2020). Net income: US$23.9m (up 27% from FY 2020). Profit margin: 36% (up from 32% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.83% (down from 3.13% in FY 2020). Cost-to-income ratio: 55.0% (down from 55.8% in FY 2020). Non-performing loans: 1.11% (down from 1.33% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Feb 11
Ames National Corporation Declares Cash Dividend, Payable on May 13, 2022 Ames National Corporation declared a cash dividend of $0.27 per common share. The dividend is payable May 13, 2022, to shareholders of record at the close of business on April 29, 2022. Upcoming Dividend • Jan 24
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 31 January 2022. Payment date: 15 February 2022. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Jan 23
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: US$2.62 (up from US$2.06 in FY 2020). Revenue: US$67.3m (up 14% from FY 2020). Net income: US$23.9m (up 27% from FY 2020). Profit margin: 36% (up from 32% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.83% (down from 3.13% in FY 2020). Cost-to-income ratio: 55.0% (down from 55.8% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 23
Ames National Corporation Provides Earnings Guidance for the Year Ending December 31, 2022 Ames National Corporation provides earnings guidance for the year ending December 31, 2022. The Company is forecasting earnings for the year ending December 31, 2022 in the range of $2.10 to $2.20 per share compared to $2.62 per share earned for the year ended December 31, 2021. The decrease in forecasted earnings from the 2021 actual results was primarily due to lower PPP fees and to a lesser extent higher noninterest expense. Upcoming Dividend • Oct 22
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 29 October 2021. Payment date: 15 November 2021. Trailing yield: 4.4%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.2%). Reported Earnings • Oct 17
Third quarter 2021 earnings released: EPS US$0.74 (vs US$0.62 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$17.4m (up 7.1% from 3Q 2020). Net income: US$6.71m (up 18% from 3Q 2020). Profit margin: 39% (up from 35% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 22
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 13 August 2021. Trailing yield: 4.5%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.4%). Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS US$0.64 (vs US$0.48 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$16.8m (up 16% from 2Q 2020). Net income: US$5.88m (up 33% from 2Q 2020). Profit margin: 35% (up from 30% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Ames National Corporation(NasdaqCM:ATLO) dropped from Russell 2000 Value-Defensive Index Ames National Corporation(NasdaqCM:ATLO) dropped from Russell 2000 Value-Defensive Index