34.23
+0.97%
Close of 9 Nov 2026, in USD
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About Ames National
From its filings with the US Securities and Exchange Commission
Ames National is based in Ames, Iowa and is incorporated in United States. Its shares trade on Nasdaq under the ticker ATLO. The SEC classifies its business as national commercial banks. In the fiscal year to 31 December 2025, it reported net income of $19.0m. At that date it held total assets of $2.13bn and shareholders' equity of $207.9m.
Ames National Corporation (the "Company") is an Iowa corporation and bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company owns 100% of the stock of six bank subsidiaries consisting of one national bank and five state-chartered banks, as described below. All of the Company’s operations are conducted in the State of Iowa and primarily within the central, north-central and south-central Iowa counties of Boone, Clarke, Hancock, Marshall, Polk, Story, Taylor and Union where the Company’s banking subsidiaries are located. The Company does not engage in any material business activities apart from its ownership of its banking subsidiaries and the management of its own loan portfolios. The principal executive offices of the Company are located at 323 Sixth Street, Ames, Iowa 50010. The Company’s telephone number is (515) 232-6251 and website address is www.amesnational.com.
The Company was organized and incorporated on January 21, 1975 under the laws of the State of Iowa to serve as a holding company for its principal banking subsidiary, First National Bank, Ames, Iowa ("First National") located in Ames, Iowa. In 1983, the Company acquired the stock of State Bank & Trust Co. ("State Bank") located in Nevada, Iowa; in 1991, the Company, through a newly-chartered state bank known as Boone Bank & Trust Co.
Quoted from its 10-K, filed 12 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 13 Mar 2000
- Employees
- 260
- Website
- amesnational.com ↗
- Head office
- PO BOX 846, AMES, IA, 50010
- Incorporated in
- X1
- Classification
- National Commercial Banks
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Patrick HaganIndependent Chairman of the Board$36,043
- Mr. John NelsonPresident, Chief Executive Officer, Director$419,678
- Mr. Justin ClausenChief Financial Officer, Secretary
- Mr. Scott BauerPresident and Director of First National$289,309
- Mr. Dan JohnsonPresident and Director of State Bank
- Mr. Jeffrey PutzierPresident and Director of Boone Bank$200,601
- Mr. Richard SchreierPresident and Director of Reliance Bank$200,275
- Mr. Adam SnodgrassPresident and Director of Iowa State Bank
- Mr. Robert ThomasPresident and Director of United Bank
- Mr. Michael WilsonExecutive Vice President, Chief Lending Officer$287,978
- Mr. John PierschbacherDirector, since 2018$10,540
- Mr. Jeffery BakerIndependent Director$34,773
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 25
- Environment
- 27
- Social
- 23
- Governance
- 24
- Women in the workforce
- 65%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Ames National Corp possesses several key strengths that contribute to its success in the market. First and foremost, the company boasts a strong brand reputation and recognition, built over many years of exceptional service in the financial industry. This helps attract and retain a loyal customer base. Additionally, Ames National Corp has a robust financial position, backed by solid financial resources and a strong balance sheet. This enables the company to invest in growth opportunities and withstand economic uncertainties more effectively than its competitors. Furthermore, the organization benefits from a seasoned and skilled workforce. The employees possess extensive knowledge and experience in the banking sector, which enables them to provide high-quality, personalized services to customers. Lastly, Ames National Corp has a diversified product portfolio, offering a wide range of banking services such as personal and commercial banking, loans, mortgages, and investment solutions. This diversity enhances its competitive advantage in meeting customers' diverse financial needs.
Weaknesses
- Despite its strengths, Ames National Corp also faces certain weaknesses that hinder its performance in the market. One notable limitation is the company's limited geographical presence. Operating primarily within the state of Iowa, this restricts potential market expansion and growth opportunities outside the region. To overcome this weakness, the company needs to explore strategies for expanding its footprint into new markets. Additionally, like many traditional banks, Ames National Corp may face challenges in adapting to rapidly evolving digital banking technologies. This can result in a less seamless customer experience and potential loss of customers to more digitally-focused banks. The company needs to invest in enhancing its digital banking capabilities to remain competitive in the ever-changing financial landscape.
Opportunities
- Despite the weaknesses mentioned above, Ames National Corp is well-positioned to capitalize on various opportunities in the market. One significant opportunity lies in the growing demand for sustainable banking practices. By incorporating environmentally-friendly initiatives, such as green lending and investing in renewable energy projects, the company can attract an environmentally-conscious customer base and differentiate itself from competitors. Additionally, strategic mergers and acquisitions provide an opportunity for Ames National Corp to expand its market presence beyond Iowa. By acquiring regional banks or establishing partnerships, the company can gain access to new customer segments and diversify its revenue streams. Moreover, the increasing trend towards personalized financial services presents an opportunity for Ames National Corp to leverage its skilled workforce and offer tailored banking solutions to customers. By emphasizing a customer-centric approach, the company can enhance customer loyalty and satisfaction.
Threats
- Ames National Corp faces certain threats that pose risks to its business operations. One major threat is the intense competition within the banking industry. The sector is crowded with both traditional and digital banks, all vying for market share. This can result in reduced profit margins and increased customer acquisition costs. To mitigate this threat, the company must continuously innovate and differentiate itself to retain its customer base. Furthermore, regulatory changes and compliance requirements pose challenges to Ames National Corp and the banking industry as a whole. Adapting to evolving regulatory frameworks and ensuring compliance can be time-consuming and costly, requiring constant monitoring and investment in personnel and systems. Lastly, economic downturns and fluctuations in interest rates can impact the profitability of Ames National Corp. A struggling economy can lead to loan defaults, decreased demand for banking services, and reduced investment opportunities. To counter this threat, the company needs to maintain a strong risk management framework and diversify its revenue sources.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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