Ames National Corporation Aktie News

ATLO provides a reliable dividend income stream with capital preservation characteristics, making it an ideal holding for retirees and income-oriented investors. Short-term capital fluctuations resulting from rising interest rates have a limited impact on cash flows.

AMES, Iowa, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Ames National Corporation (Nasdaq: ATLO; the “Company”) today reported net income for the fourth quarter of 2022 of $4.4 million, or $0.49 per share, compared to $5.3 million, or $0.58 per share, earned in the fourth quarter of 2021. For the year ended December 31, 2022, net income for the Company totaled $19.3 million or $2.14 per share, compared t...

High agriculture commodity prices and strength in Iowa's job market will likely sustain loan growth through the end of 2023. Higher interest rates will have a lagged impact on the net interest margin.

Ames National is a consistently strong performer. A very substantial portion of its assets are invested in securities and the higher market interest rates should boost the interest income.

Ames National is a small regional bank in Iowa, with a balance sheet total of just over $2B. The loan book remains strong despite the heavy exposure in real estate loans. Less than 0.4% of the loans are past due.

Ames National is trading at 1.2X tangible book value and about 10 times its normalized earnings. The bank was able to take back some of its 2020 loan loss provisions.