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Companies / Financials / Ames National Corporation
ATLO

Ames National Corporation

FinancialsCommercial Banks
Ticker ATLOAMES, IAFiscal year ends DecemberBook value per share $22.57Diluted shares 9.1M

Ames National Corporation (Nasdaq: ATLO) is an Iowa bank holding company whose six wholly owned community banks provide commercial and consumer banking services in central, north-central and south-central Iowa. The banks serve individuals, small and midsize businesses, agricultural customers and public entities with… From the company’s description.

Over the twelve months to Sep 30, 2026, Ames National Corporation reported revenue of $76.40M, up 21.5% from a year earlier, and net income of $25.45M. Its pre-tax margin was 42.9%. In fiscal 2025, it reported revenue of $66.83M, up 21.9% from fiscal 2024, and net income of $19.03M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$66.83MFY2025
+21.9% year over year
Last 12 mo $76.40M
35.71%FY2025
+13.4 percentage points
Last 12 mo 42.94%
$19.03MFY2025
+86.2% year over year
Last 12 mo $25.45M
9.15%FY2025
+3.3 percentage points
Last 12 mo 12.37%
Cash & financing
$21.34MFY2025
+49.2% year over year
Last 12 mo $24.39M
$20.70MFY2025
+47.8% year over year
Last 12 mo $22.33M
9.02FY2025
Was 10.84× a year earlier
Last 12 mo 8.90
—

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Ames National Corporation does

In the company’s own words

Ames National Corporation (Nasdaq: ATLO) is an Iowa bank holding company whose six wholly owned community banks provide commercial and consumer banking services in central, north-central and south-central Iowa. The banks serve individuals, small and midsize businesses, agricultural customers and public entities with commercial, agricultural, real estate and consumer loans; checking, savings and time deposits; cash management; mortgage origination for sale; and, at five banks, trust and wealth management services. The company also provides shared management, compliance, human resources, technology and administrative support to its banks. Its operations are organized through First National Bank, State Bank & Trust, Boone Bank & Trust, Reliance State Bank, United Bank & Trust, and Iowa State Savings Bank, with no separate reportable business segments described. The company’s banking operations trace back to First National Bank, organized in 1903; it formed as a holding company in 1975 and added five banks through acquisitions or formation, most recently acquiring Iowa State Savings Bank in 2019. At December 31, 2025, the company managed $510.4 million in wealth assets and employed approximately 260 people. Its website is www.amesnational.com.

Company details
Sector
Financials
Industry (SIC)
Commercial Banks
Headquarters
AMES, IA
Fiscal year end
December
CIK
1132651
SIC
6021

Financial performance, year by year

Fiscal 2011–2025 · USD
$-7.64M$15.28M$38.20M$61.12M$84.04M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Ames National Corporation — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

111
funds hold it
0 of 35
superinvestors hold it
$44.92M
held by funds, at market
17.4%
of shares held by funds

Largest fund holders · Ames National Corporation’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 Value ETF
IWN · iShares Trust
0.02%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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