ATLO

Ames National Corporation operates as a multi-bank holding company providing commercial banking and trust services across Iowa through subsidiary banks including Ames National Bank, First National Bank in Iowa, Boone Bank & Trust Company, and Reliance State Bank. Founded in 1903 and headquartered in Ames, Iowa, the company serves individuals, agricultural producers, small and mid-sized businesses, and municipalities through approximately 25 banking offices spanning central and northern Iowa counties including Story, Boone, Hamilton, and surrounding areas. Ames National offers traditional community banking products including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, agricultural operating loans and farm real estate financing, commercial business lending, and treasury management services supporting business clients. The company's wealth management and trust division administers approximately $3 billion in trust assets providing estate planning, investment management, retirement plan administration, and fiduciary services for individuals, families, and institutional clients. Ames National emphasizes relationship-based banking with local decision-making authority, contrasting with larger regional banks utilizing centralized credit approval processes potentially less responsive to community-specific lending needs. The company reported total assets exceeding $2 billion with profitability influenced by net interest margin trends, loan portfolio credit quality, and operating expense management offsetting pressure from competitive deposit pricing and technology investments. Ames National operates in rural and small-city markets where agricultural lending comprises significant portions of loan portfolios, creating economic sensitivity to commodity prices, farm income levels, and government agricultural support programs affecting farmers' debt-servicing capacity. Recent strategic priorities include digital banking enhancements improving customer convenience and competitive positioning against fintech challengers, prudent expense management protecting profitability margins, and careful monitoring of agricultural loan portfolios managing risks from volatile commodity markets and changing weather patterns affecting crop yields.