AMES NATIONAL CORP
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
ATLO$33.90-0.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
INDEX
| Page | ||
|---|---|---|
| PART I. · FINANCIAL INFORMATION | ||
| Item 1. | Consolidated Financial Statements (Unaudited) | 3 |
| Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 | 3 | |
| Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 | 4 | |
| Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023 | 5 | |
| Consolidated Statements of Stockholders’ Equity for the three and nine months ended September 30, 2024 and 2023 | 6 | |
| Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 | 7 | |
| Notes to Consolidated Financial Statements | 9 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 36 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 52 |
| Item 4. | Controls and Procedures | 52 |
| PART II. | OTHER INFORMATION | |
| Item 1. | Legal Proceedings | 52 |
| Item 1.A. | Risk Factors | 52 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 53 |
| Item 3. | Defaults Upon Senior Securities | 53 |
| Item 4. | Mine Safety Disclosures | 53 |
| Item 5. | Other Information | 53 |
| Item 6. | Exhibits | 54 |
| Signatures | 55 | |
AMES NATIONAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | (audited) | |
| ASSETS | ||
| Cash and due from banks | $22,660 | $24,105 |
| Interest-bearing deposits in financial institutions and federal funds sold | 36,309 | 30,996 |
| Total cash and cash equivalents | 58,969 | 55,101 |
| Interest-bearing time deposits | 6,167 | 8,904 |
| Securities available-for-sale | 688,595 | 736,389 |
| Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost | 5,186 | 3,086 |
| Loans receivable, net | 1,295,773 | 1,277,812 |
| Loans held for sale | 338 | 124 |
| Bank premises and equipment, net | 21,858 | 22,549 |
| Accrued income receivable | 15,261 | 12,953 |
| Bank-owned life insurance | 3,193 | 3,131 |
| Deferred income taxes, net | 11,138 | 16,496 |
| Intangible assets, net | 1,170 | 1,429 |
| Goodwill | 12,424 | 12,424 |
| Other assets | 3,101 | 5,083 |
| Total assets | $2,123,173 | $2,155,481 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Deposits | ||
| Noninterest-bearing checking | $335,469 | $370,942 |
| Interest-bearing checking | 612,017 | 611,891 |
| Savings and money market | 535,096 | 552,275 |
| Time, $250 and over | 79,538 | 67,733 |
| Other time | 239,601 | 208,990 |
| Total deposits | 1,801,721 | 1,811,831 |
| Securities sold under agreements to repurchase | 42,756 | 53,994 |
| Other borrowings | 83,101 | 110,588 |
| Dividends payable | 1,798 | 2,428 |
| Accrued interest payable | 3,045 | 4,710 |
| Accrued expenses and other liabilities | 7,358 | 6,142 |
| Total liabilities | 1,939,779 | 1,989,693 |
| STOCKHOLDERS' EQUITY | ||
| Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 8,992,167 shares as of September 30, 2024 and December 31, 2023 | 17,984 | 17,984 |
| Additional paid-in capital | 14,253 | 14,253 |
| Retained earnings | 180,505 | 180,438 |
| Accumulated other comprehensive (loss) | (29,348) | (46,887) |
| Total stockholders' equity | 183,394 | 165,788 |
| Total liabilities and stockholders' equity | $2,123,173 | $2,155,481 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.