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Press Releases

Date: 4/30/2020

Title: Ames National Corporation Holds Annual Meeting and Announces the Re-Election of Board Members (4/30/20)

AMES NATIONAL CORPORATION HOLDS ANNUAL MEETING AND ANNOUNCES THE RE-ELECTION OF BOARD MEMBERS

Ames, Iowa. Ames National Corporation (“the Company”) held its annual meeting at virtually on Wednesday, April 29, 2020. President & CEO, John Nelson announced that the Company’s assets, deposits and loans climbed to record levels as of December 31, 2019. Assets reached $1.7 Billion, deposits grew to $1.5 Billion and loans topped $1 Billion. This balance sheet growth can be mainly attributed to Ames National Corporation’s acquisition of Iowa State Savings Bank in Creston, Iowa in October 2019 and will play an important role as we focus on profitable growth. Since 2012, Ames National Corporation has completed four acquisitions, resulting in additional assets of over $500 million. Once economic conditions normalize, we will resume seeking strategically aligned acquisition opportunities to expand our Iowa footprint.

 

Publicly traded under the ticker symbol, ATLO, shareholders can be proud of the solid growth, stability and soundness of the Company.

Nelson reported the Board of Directors’ decision to increase the quarterly dividend from $0.24 per share paid in 2019 to $0.25 per share to be paid May 15, 2020. He also provided insight on the implications of the ever-changing, COVID-19 challenges.

Three directors, Betty Baudler Horras, Patrick Hagan and Thomas Pohlman, were re-elected to the Company’s Board to serve three-year terms.