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Midas Edge

AMES NATIONAL CORP

For the period ended Mar 31, 2025. Filed May 9, 2025.

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About 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.

Mar 31, 2025 · Filed May 9, 2025

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 exhibits
Contents

Table of Contents

INDEX

Page
PART I. · FINANCIAL INFORMATION
Item 1.Consolidated Financial Statements (Unaudited)3
Consolidated Balance Sheets at March 31, 2025 and December 31, 20243
Consolidated Statements of Income for the three months ended March 31, 2025 and 20244
Consolidated Statements of Comprehensive Income for the three months ended March 31, 2025 and 20245
Consolidated Statements of Stockholders’ Equity for the three months ended March 31, 2025 and 20246
Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 20247
Notes to Consolidated Financial Statements9
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations35
Item 3.Quantitative and Qualitative Disclosures About Market Risk48
Item 4.Controls and Procedures48
PART II.OTHER INFORMATION
Item 1.Legal Proceedings48
Item 1.A.Risk Factors48
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds49
Item 3.Defaults Upon Senior Securities49
Item 4.Mine Safety Disclosures49
Item 5.Other Information49
Item 6.Exhibits50
Signatures51

AMES NATIONAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

March 31,December 31,
20252024
(unaudited)(audited)
ASSETS
Cash and due from banks$20,498$19,525
Interest-bearing deposits in financial institutions and federal funds sold142,89381,702
Total cash and cash equivalents163,391101,227
Interest-bearing time deposits5,1666,166
Securities available-for-sale640,416648,513
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost3,3843,883
Loans receivable, net1,306,2301,303,917
Loans held for sale540342
Bank premises and equipment, net21,44521,567
Accrued income receivable12,24013,864
Bank-owned life insurance3,2353,214
Deferred income taxes, net12,01014,056
Intangible assets, net1,0151,092
Goodwill12,42412,424
Other assets2,7972,915
Total assets$2,184,293$2,133,180
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits
Noninterest-bearing checking$336,844$358,386
Interest-bearing checking663,125619,951
Savings and money market575,365540,491
Time, $250 and over87,94684,996
Other time243,104242,858
Total deposits1,906,3841,846,682
Securities sold under agreements to repurchase45,77452,412
Other borrowings35,80246,952
Dividends payable1,7831,790
Accrued interest payable2,5553,208
Accrued expenses and other liabilities8,9397,430
Total liabilities2,001,2371,958,474
STOCKHOLDERS' EQUITY
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 8,915,557 and 8,949,110 shares as of March 31, 2025 and December 31, 2024, respectively17,83117,898
Additional paid-in capital13,15213,635
Retained earnings183,914182,236
Accumulated other comprehensive (loss)(31,841)(39,063)
Total stockholders' equity183,056174,706
Total liabilities and stockholders' equity$2,184,293$2,133,180
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.