Date: 8/10/2023

Title: Cash Dividend Declared by Ames National Corporation

Cash Dividend Declared by Ames National Corporation (ATLO)

On August 9, 2023, Ames National Corporation (the "Company") declared a cash dividend of $0.27 per common share. The dividend is payable November 15, 2023, to shareholders of record at the close of business on November 1, 2023.

About Ames National Corporation

Ames National Corporation is listed on the NASDAQ Capital Market under the ticker symbol, ATLO. The Corporation affiliate banks, all located in central Iowa, include: First National Bank, Ames; Boone Bank & Trust Co., Boone; State Bank & Trust Co., Nevada; Iowa State Savings Bank, Creston; Reliance State Bank, Story City; and United Bank & Trust, Marshalltown.

Information regarding the process for purchasing ATLO stock can be obtained through Richard Nelson at First Point Wealth Management, (515) 715-1942.

For further information contact:

John P. Nelson, President and CEO
(515) 232-6251 or [email protected]