Ames National Corporation (ATLO) 10-Year Financial Performance & Capital Metrics

ATLO • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutAmes National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, and Union counties in central, north-central, and south-central Iowa. The company accepts a range of deposits, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. It also provides loans, such as short-term and medium-term commercial and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; personal loans and lines of credit; agricultural and business operating loans and lines of credit; and originates mortgage loans for sale into the secondary market. In addition, the company offers cash management, merchant credit card processing, safe deposit box, wire transfer, direct deposit of payroll and social security check, and automated/video teller machine access services; and automatic drafts for various accounts, as well as wealth management services. Further, it provides farm management, investment, and custodial services for individuals, businesses, and non-profit organizations; and online, mobile, and private banking services. Ames National Corporation was founded in 1903 and is based in Ames, Iowa.Show more

Net Interest Income $45M +0.8%
Total Revenue $92M +10.7%
Net Income $10M -5.5%
Return on Equity 6% -12.6%
Net Interest Margin 2.11% +1.8%
Efficiency Ratio 45.41% -5.6%
ROA 0.48% -5.5%
Equity / Assets 8.19% +6.5%
Book Value per Share 19.43 +5.4%
Tangible BV/Share 17.93 +6.1%
Debt/Equity 0.57 -42.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 45.4% efficiency ratio
✓Healthy dividend yield of 4.3%
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.56%

5Y7.36%

3Y9.19%

TTM-

Profit (Net Income) CAGR

10Y-3.93%

5Y-9.88%

3Y-24.68%

TTM43.27%

EPS CAGR

10Y-3.57%

5Y-9.33%

3Y-24.22%

TTM43.93%

ROCE

10Y Avg10.34%

5Y Avg9.67%

3Y Avg7.55%

Latest4.75%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	38.97M	39.91M	40.21M	42.12M	45.25M	54.84M	56M	53.24M	44.63M	44.98M
NII Growth %	0.07%	0.02%	0.01%	0.05%	0.07%	0.21%	0.02%	-0.05%	-0.16%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	43.15M	44.05M	45.79M	49.73M	56.18M	62.94M	60.48M	61.55M	74.3M	82.61M
Interest Expense	4.19M	4.14M	5.58M	7.6M	10.93M	8.1M	4.49M	8.31M	29.68M	37.63M
Loan Loss Provision	1.1M	524.37K	1.52M	639.32K	1.31M	5.68M	-757K	-874K	789K	592K
Non-Interest Income+	8.27M	8.09M	7.99M	7.9M	8.63M	10.62M	10.54M	9.69M	9.21M	9.84M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	51.42M	52.13M	53.79M	57.63M	64.81M	73.56M	71.02M	71.24M	83.52M	92.44M
Revenue Growth %	0.05%	0.01%	0.03%	0.07%	0.12%	0.14%	-0.03%	0%	0.17%	0.11%
Non-Interest Expense	25.31M	24.93M	25.4M	27.97M	31.52M	36.55M	36.62M	38.64M	40.16M	41.98M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	20.82M	22.54M	21.28M	21.42M	21.04M	23.23M	30.67M	25.16M	12.89M	12.24M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0%	0.08%	-0.06%	0.01%	-0.02%	0.1%	0.32%	-0.18%	-0.49%	-0.05%
Pretax Income+	20.82M	22.54M	21.28M	21.42M	21.04M	23.23M	30.67M	25.16M	12.89M	12.24M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	5.81M	6.8M	7.58M	4.41M	3.85M	4.38M	6.76M	5.87M	2.07M	2.02M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	15.01M	15.73M	13.7M	17.01M	17.19M	18.85M	23.91M	19.29M	10.82M	10.22M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.02%	0.05%	-0.13%	0.24%	0.01%	0.1%	0.27%	-0.19%	-0.44%	-0.06%
Net Income (Continuing)	15.01M	15.73M	13.7M	17.01M	17.19M	18.85M	23.91M	19.29M	10.82M	10.22M
EPS (Diluted)+	1.61	1.69	1.47	1.83	1.86	2.06	2.62	2.14	1.20	1.14
EPS Growth %	-0.02%	0.05%	-0.13%	0.24%	0.02%	0.11%	0.27%	-0.18%	-0.44%	-0.05%
EPS (Basic)	1.61	1.69	1.47	1.83	1.86	2.06	2.62	2.14	1.20	1.14
Diluted Shares Outstanding	9.33M	9.31M	9.32M	9.31M	9.24M	9.15M	9.11M	9.03M	8.99M	8.99M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	51M	61.22M	69.42M	56.44M	143.56M	191.52M	106.05M	42.55M	64M	107.39M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.24B	1.27B	1.27B	1.35B	1.53B	1.73B	1.98B	2.01B	2.01B	1.95B
Investments Growth %	0.03%	0.02%	-0%	0.07%	0.13%	0.13%	0.14%	0.02%	0%	-0.03%
Long-Term Investments	701.87M	752.42M	771.55M	890.86M	1.05B	1.13B	1.14B	1.23B	1.28B	1.76B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	6.73M	6.73M	6.73M	9.74M	12.12M	12.42M	12.42M	12.42M	12.42M	12.42M
Intangible Assets	1.31M	1.35M	1.09M	2.68M	3.96M	3.13M	2.5M	1.93M	1.43M	1.09M
PP&E (Net)	17.01M	16.05M	15.4M	15.81M	17.81M	17.34M	17.51M	18.89M	22.55M	21.57M
Other Assets	2.36M	1.34M	4.62M	7.91M	16.03M	11.96M	11.39M	13.12M	11.3M	10.01M
Total Current Assets	596.2M	585.06M	573.12M	524.83M	635.2M	799.66M	947.18M	840.27M	813.35M	316.04M
Total Non-Current Assets	730.55M	781.39M	801.94M	930.86M	1.1B	1.18B	1.19B	1.29B	1.34B	1.82B
Total Assets+	1.33B	1.37B	1.38B	1.46B	1.74B	1.98B	2.14B	2.13B	2.16B	2.13B
Asset Growth %	0.02%	0.03%	0.01%	0.06%	0.19%	0.14%	0.08%	-0%	0.01%	-0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0%
Accounts Payable	0	0	0	0	0	0	0	666K	4.71M	3.21M
Total Debt+	85.83M	85.84M	63.92M	55.27M	47.03M	40.29M	42.85M	79.8M	164.58M	99.36M
Net Debt	34.83M	24.62M	-5.49M	-1.17M	-96.53M	-151.23M	-63.2M	37.24M	100.58M	-8.03M
Long-Term Debt	31.54M	27.5M	26.5M	14.6M	5M	3M	3M	39.12M	110.59M	46.95M
Short-Term Debt	54.29M	58.34M	37.42M	40.67M	42.03M	37.29M	39.85M	40.68M	53.99M	52.41M
Other Liabilities	1.86M	1.96M	2.05M	2.14M	2.21M	0	2.36M	1.76M	8.57M	9.22M
Total Current Liabilities	1.13B	1.17B	1.18B	1.27B	1.54B	1.76B	1.92B	1.94B	1.87B	1.9B
Total Non-Current Liabilities	33.4M	29.46M	28.55M	16.74M	7.21M	4.73M	5.36M	40.88M	119.16M	56.17M
Total Liabilities	1.17B	1.2B	1.2B	1.28B	1.55B	1.77B	1.93B	1.99B	1.99B	1.96B
Total Equity+	161.25M	165.11M	170.75M	172.87M	187.58M	209.49M	207.78M	149.1M	165.79M	174.71M
Equity Growth %	0.04%	0.02%	0.03%	0.01%	0.09%	0.12%	-0.01%	-0.28%	0.11%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.1%	0.08%	0.1%	0.1%	0.09%	0.11%	0.11%	0.07%	0.06%
Book Value per Share	17.29	17.73	18.33	18.57	20.31	22.90	22.80	16.51	18.44	19.43
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	18.62M	18.62M	18.62M	18.59M	18.45M	18.25M	18.18M	17.98M	17.98M	17.9M
Additional Paid-in Capital	20.88M	20.88M	20.88M	20.46M	18.79M	17M	16.35M	14.25M	14.25M	13.63M
Retained Earnings	118.27M	126.18M	131.68M	137.89M	146.22M	158.22M	170.38M	179.93M	180.44M	182.24M
Accumulated OCI	3.48M	-576.69K	-432.37K	-4.08M	4.12M	16.02M	2.86M	-63.07M	-46.89M	-39.06M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	22.62M	21.42M	18.85M	20.71M	20.18M	29.71M	30.47M	21.23M	19.21M	14.3M
Operating CF Growth %	0.16%	-0.05%	-0.12%	0.1%	-0.03%	0.47%	0.03%	-0.3%	-0.1%	-0.26%
Net Income	15.01M	15.73M	13.7M	17.01M	17.19M	18.85M	23.91M	19.29M	10.82M	10.22M
Depreciation & Amortization	1.57M	1.58M	1.5M	1.56M	1.84M	2.27M	2.03M	2M	1.75M	1.69M
Deferred Taxes	1.94M	174.4K	858.4K	-69.9K	549.31K	-448K	1.37M	1.99M	1.53M	755K
Other Non-Cash Items	4.31M	3.32M	4.04M	2.01M	-30.12K	7.53M	3.16M	1.03M	2.23M	1.29M
Working Capital Changes	-206.57K	608.36K	-1.25M	185.18K	621.35K	1.51M	-5K	-3.08M	2.87M	345K
Cash from Investing+	-34.38M	-43.47M	-16.9M	8.64M	-78.96M	-184.26M	-268.57M	-127.38M	19.06M	71.98M
Purchase of Investments	-100.81M	-78.12M	-64.2M	-25.98M	-86.92M	-238.62M	-375.4M	-141.31M	-6.42M	-15.34M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	-13.44M	-19.14M	-310K	0	0	0	0
Other Investing	-32.35M	-55.52M	-31.95M	-23.66M	-78.84M	-79.25M	-11.93M	-79.34M	-45.61M	-24.74M
Cash from Financing+	12.03M	27.52M	-5.03M	-25.35M	63.01M	205.83M	154.13M	44.91M	-11.05M	-40.15M
Dividends Paid	-7.26M	-7.73M	-8.1M	-10.8M	-8.78M	-9.07M	-9.39M	-9.68M	-9.71M	-9.08M
Share Repurchases	0	0	0	-452.22K	-1.81M	-1.99M	-710K	-2.3M	0	-704K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0	1000K	1000K	-1000K
Other Financing	25.22M	39.3M	4.07M	-2.2M	83.21M	218.9M	164.23M	20.76M	-72.81M	33.27M
Net Change in Cash+	275.54K	5.47M	-3.08M	3.99M	4.23M	51.28M	-83.97M	-61.24M	27.22M	46.13M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	23.73M	24.01M	29.48M	26.4M	30.38M	121.82M	173.1M	89.13M	27.88M	55.1M
Cash at End	24.01M	29.48M	26.4M	30.38M	34.62M	173.1M	89.13M	27.88M	55.1M	101.23M
Interest Paid	4.46M	4.17M	5.51M	7.39M	10.55M	8.8M	5.06M	8.56M	25.63M	39.13M
Income Taxes Paid	4.29M	5.82M	6.89M	4.63M	3.96M	5.5M	6.3M	4.97M	1.81M	626K
Free Cash Flow+	20.43M	20.74M	18.22M	20.07M	19.4M	28.46M	28.6M	18.37M	14.31M	14M
FCF Growth %	0.14%	0.02%	-0.12%	0.1%	-0.03%	0.47%	0%	-0.36%	-0.22%	-0.02%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.51%	9.64%	8.16%	9.9%	9.54%	9.49%	11.46%	10.81%	6.87%	6%
Return on Assets (ROA)	1.14%	1.17%	1%	1.2%	1.08%	1.02%	1.16%	0.9%	0.5%	0.48%
Net Interest Margin	2.94%	2.92%	2.92%	2.89%	2.6%	2.78%	2.62%	2.49%	2.07%	2.11%
Efficiency Ratio	49.23%	47.83%	47.23%	48.53%	48.64%	49.69%	51.56%	54.24%	48.09%	45.41%
Equity / Assets	12.15%	12.08%	12.42%	11.88%	10.8%	10.6%	9.72%	6.98%	7.69%	8.19%
Book Value / Share	17.29	17.73	18.33	18.57	20.31	22.9	22.8	16.51	18.44	19.43
NII Growth	7%	2.43%	0.76%	4.75%	7.42%	21.21%	2.1%	-4.92%	-16.19%	0.79%
Dividend Payout	48.37%	49.11%	59.14%	63.48%	51.09%	48.13%	39.26%	50.15%	89.78%	88.88%

Frequently Asked Questions

Valuation & Price

Ames National Corporation (ATLO) has a price-to-earnings (P/E) ratio of 20.7x. This is roughly in line with market averages.

Growth & Financials

Ames National Corporation (ATLO) grew revenue by 10.7% over the past year. This is steady growth.

Yes, Ames National Corporation (ATLO) is profitable, generating $13.7M in net income for fiscal year 2024 (11.1% net margin).

Dividend & Returns

Yes, Ames National Corporation (ATLO) pays a dividend with a yield of 4.27%. This makes it attractive for income-focused investors.

Ames National Corporation (ATLO) has a return on equity (ROE) of 6.0%. This is below average, suggesting room for improvement.

Industry Metrics

Ames National Corporation (ATLO) has a net interest margin (NIM) of 2.1%. NIM has been under pressure due to interest rate environment.

Ames National Corporation (ATLO) has an efficiency ratio of 45.4%. This is excellent, indicating strong cost control.

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