Ames National Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 6, 2026, reporting financial results for both the three and nine months ended on that date.

Key Highlights

  • Nine-month net income of $18.939 million: up from $12.513 million for the same period in 2025, according to the filing.
  • Third-quarter net income of $7.048 million: compared with $4.559 million in the third quarter of 2025, as reported in the consolidated statements of income.
  • Basic and diluted earnings per share: $0.80 for Q3 2026 versus $0.51 for Q3 2025; $2.14 for the nine months versus $1.41 in the prior-year period.
  • Net interest income rose: to $16.957 million for Q3 2026 from $14.049 million in Q3 2025, and to $48.770 million for the nine months from $40.430 million.
  • Total assets of $2.082 billion as of September 30, 2026, down from $2.134 billion at December 31, 2025.
  • Dividends declared per share: $0.24 for Q3 2026, up from $0.20 in Q3 2025; $0.72 for the nine-month period versus $0.40 in the prior-year period.
  • Shares outstanding: 8,857,220 shares of common stock as of October 31, 2026, per the filing cover page.

Ames National's Third-Quarter 2026 Financial Results: Income, Assets, and Equity

Ames National Corporation (NASDAQ:ATLO), an Iowa-based bank holding company, disclosed in its quarterly report that net income for the three months ended September 30, 2026, was $7.048 million, compared with $4.559 million for the same quarter a year earlier. For the nine months ended September 30, 2026, the company reported net income of $18.939 million, up from $12.513 million for the nine months ended September 30, 2025. The filing attributes the year-over-year improvement in net interest income partly to higher loan and securities interest income, with total interest and dividend income reaching $23.633 million for Q3 2026 versus $21.853 million in Q3 2025.

According to the filing, total interest expense fell to $6.676 million in Q3 2026 from $7.804 million in Q3 2025, driven by lower deposit interest costs of $6.372 million versus $7.173 million in the prior-year quarter. Noninterest income grew to $3.463 million in Q3 2026 from $2.534 million in Q3 2025, with wealth management income rising to $2.094 million from $1.374 million. Total noninterest expense was $11.225 million for Q3 2026 compared with $10.241 million in Q3 2025, with professional fees increasing to $1.020 million from $412 thousand.

The consolidated balance sheet as of September 30, 2026, showed total assets of $2.082 billion, down from $2.134 billion at December 31, 2025. Loans receivable, net, stood at $1.260 billion, compared with $1.280 billion at year-end 2025. Total deposits were $1.831 billion versus $1.855 billion at December 31, 2025. Total stockholders' equity was $205.754 million as of September 30, 2026, reflecting accumulated other comprehensive loss of $32.699 million, primarily from unrealized losses on securities. For the nine months, other comprehensive loss net of tax was $14.751 million, contributing to comprehensive income of $4.188 million for that period.

What Was Disclosed

Ames National Corporation filed its unaudited quarterly report covering the three and nine months ended September 30, 2026, disclosing income statements, balance sheet data, and equity changes. The company reported increased net income and net interest income compared with the same periods in 2025, alongside a decline in total assets and an expanded accumulated other comprehensive loss.