Sector: Financials | Industry: Banks |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 405 5Th Street AMES IA 50010 |
Tel: | 1-515-6633058 |
Website: | https://www.amesnational.com |
IR: | See website |
Key People | ||
John Patrick Nelson President, Chief Executive Officer, Director | Michael A. Wilson Executive Vice President, Chief Lending Officer | Justin C. Clausen Chief Financial Officer, Principal Accounting Officer |
John L. Pierschbacher Chief Financial Officer, Secretary, Director | Scott T. Bauer President and Director of First National Bank | Dan E. Johnson President and Director of State Bank |
Jeffrey K. Putzier President and Director of Boone Bank | Richard J. Schreier President and Director of Reliance Bank | Adam R. Snodgrass President and Director of Iowa State Bank | Robert A. Thomas President and Director of United Bank |
Business Overview |
Ames National Corp is a bank holding company for its banking subsidiaries, First National Bank, Ames, Iowa (FNB); State Bank & Trust Co., Nevada, Iowa (SBT); Boone Bank & Trust Co., Boone, Iowa (BBT); Reliance State Bank, Story City, Iowa (RSB); United Bank & Trust Co., Marshalltown, Iowa (UBT), and Iowa State Savings Bank, Creston, Iowa (ISSB). The Bank's lending activities consist primarily of short-term and medium-term commercial and agricultural real estate loans, residential real estate loans, agricultural and business operating loans and lines of credit, equipment loans, vehicle loans, personal loans and lines of credit, home improvement loans and origination of mortgage loans for sale into the secondary market. It provides a variety of checking, savings and time deposits, cash management services, merchant credit card processing, safe deposit boxes, wire transfers, direct deposit, and automated/video teller machine access and automatic drafts (ACH) for various accounts. |
Financial Overview |
For the fiscal year ended 31 December 2023, Ames National Corporation interest income increased 21% to $74.3M. Net interest income after loan loss provision decreased 19% to $43.8M. Net income decreased 44% to $10.8M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 14% to 2.2%. Net income also reflects Deposits increase from $7.3M to $24.5M (expense). |
Employees: | 254 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $202.09M as of Mar 31, 2024 |
Annual revenue (TTM): | $74.30M as of Mar 31, 2024 |
EBITDA (TTM): | $19.85M as of Mar 31, 2024 |
Net annual income (TTM): | $10.82M as of Mar 31, 2024 |
Free cash flow (TTM): | $4.60M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $29.89M as of Mar 31, 2024 |
Shares outstanding: | 8,992,167 as of Feb 29, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |