Ames National Corp (ATLO) Financial Statements
Industry: National Commercial Banks
In fiscal 2025, Ames National reported revenue of $66.8M, up 21.9% from $54.8M the year before. Net income was $19.0M (a 28.5% net margin). Net interest income was $55.7M, and the efficiency ratio (noninterest expense / revenue) was 62.7%. Operating activities generated $21.3M of cash, leaving $20.7M of free cash flow. At fiscal year end, Ames National held $2.13B in total assets against $1.93B in total liabilities, including $126.8M of cash and equivalents.
Open the full interactive Ames National financials → Quarterly statements, key ratios, valuation history and price charts.
Ames National Key Stats
| Share Price | $31.90 |
|---|---|
| Market Cap | $282.5M |
| P/E Ratio | 14.9 |
| Dividend Yield | 2.76% |
| Revenue YoY Growth | +21.9% |
| 52-Week Range | $18.96 – $32.82 |
| Shares Outstanding | 8.9 million (basic, 2026 Q2) |
Ames National Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $54.8M | $56.0M | $53.2M | $44.6M | $45.0M | $55.7M |
| Provision for Credit Losses | $5.7M | -$757,000 | -$874,000 | $789,000 | $592,000 | $1.0M |
| Noninterest Income | $10.6M | $10.5M | $9.7M | $9.2M | $9.8M | $11.2M |
| Noninterest Expense | $36.6M | $36.6M | $38.6M | $40.2M | $42.0M | $41.9M |
| Revenue | $65.5M | $66.5M | $62.9M | $53.8M | $54.8M | $66.8M |
| Pre-Tax Income | $23.2M | $30.7M | $25.2M | $12.9M | $12.2M | $23.9M |
| Income Tax | $4.4M | $6.8M | $5.9M | $2.1M | $2.0M | $4.8M |
| Net Income | $18.9M | $23.9M | $19.3M | $10.8M | $10.2M | $19.0M |
| Diluted EPS | $2.06 | $2.62 | — | — | — | — |
Ames National Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $16.6M | $18.7M | $18.2M | $19.1M |
| Net Income | $4.6M | $6.5M | $6.0M | $5.9M |
Ames National Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | — | $89.1M | $27.9M | $55.1M | $101.2M | $126.8M |
| Loans (Net) | $1.13B | $1.14B | $1.23B | — | — | $1.28B |
| Total Assets | $1.98B | $2.14B | $2.13B | $2.16B | $2.13B | $2.13B |
| Deposits | $1.72B | $1.88B | $1.90B | $1.81B | $1.85B | $1.85B |
| Total Long-Term Debt | $3.0M | $3.0M | $35.4M | $3.5M | $20.0M | $18.4M |
| Total Liabilities | $1.77B | $1.93B | $1.99B | $1.99B | $1.96B | $1.93B |
| Shareholders' Equity | $209.5M | $207.8M | $149.1M | $165.8M | $174.7M | $207.9M |
Ames National Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $29.7M | $30.5M | $21.2M | $19.2M | $14.3M | $21.3M |
| Cash From Investing | -$245.3M | -$268.6M | -$127.4M | $19.1M | $72.0M | $44.2M |
| Cash From Financing | $205.8M | $154.1M | $44.9M | -$11.1M | -$40.2M | -$40.0M |
| Free Cash Flow | $28.5M | $28.7M | $18.4M | $14.3M | $14.0M | $20.7M |
| Dividends Paid | $9.1M | $9.4M | $9.7M | $9.7M | $9.1M | $7.1M |
Figures from Ames National's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Ames National financials page for every line item.
Ames National Company Profile
| Ticker | ATLO |
|---|---|
| Exchange | Nasdaq |
| Industry | National Commercial Banks |
| Headquarters | Ames, Iowa |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001132651 |
Frequently Asked Questions
What was Ames National's revenue in fiscal 2025?
Ames National (ATLO) reported revenue of $66.8M for fiscal 2025.
What is Ames National's annual revenue history?
Ames National's annual revenue by fiscal year: 2020: $65.5M; 2021: $66.5M; 2022: $62.9M; 2023: $53.8M; 2024: $54.8M; 2025: $66.8M.
What was Ames National's net income in fiscal 2025?
Ames National reported net income of $19.0M for fiscal 2025.
How much free cash flow did Ames National generate in fiscal 2025?
Ames National generated $20.7M of free cash flow in fiscal 2025.
What was Ames National's revenue last quarter?
In its most recent reported quarter (2026 Q2), Ames National reported revenue of $19.1M.
How much debt does Ames National have?
Ames National reported $18.4M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Ames National are outstanding?
Ames National reported a weighted average of 8.9 million basic shares outstanding in 2026 Q2.
What is Ames National's market cap?
Based on its latest closing price, Ames National (ATLO) has a market capitalization of about $282.5M.
When does Ames National's fiscal year end?
Ames National's fiscal year end, as registered with the SEC, is December 31.
Where is Ames National headquartered?
Ames National lists its business address in Ames, Iowa in its SEC filings.