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Date: 4/30/2019

Title: Ames National Corporation Holds Annual Meeting and Announces the Election of New Board Members (4/30/19)

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



Ames, Iowa. Ames National Corporation (“the Company”) held its annual meeting at Reiman Gardens on Tuesday, April 23, 2019. President & CEO, John Nelson announced that the Company’s assets, deposits and loans climbed to record levels as of December 31, 2018. Assets reached $1.5 billion, deposits grew to $1.2 billion and loans topped $890 million. Publically traded under the ticker symbol, ATLO, shareholders can be proud of the solid growth, stability and soundness of the Company.

John Nelson, President & CEO of the Company commented, “It is exciting and rewarding to see the growth that Ames National Corporation has seen over the past few years. Between our five Affiliate Banks, we have a strong and loyal customer base. We feel fortunate to have the opportunity to serve and support our communities.”

John continued, “Ames National Corporation provides all the behind the scenes services to the Affiliate Banks, so each bank can focus on what they do best: local, community banking and taking care of customers’ financial needs.”

Nelson also reported the Board of Directors’ decision to increase the quarterly dividend from $0.23 per share paid in 2018 to $0.24 per share to be paid May 15, 2019.

Three directors, David Benson, John Nelson and Kevin Swartz, were re-elected to the Company’s Board to serve three-year terms. One new director was also elected to the Board, Michelle Cassabaum.

   
David W. Benson is an attorney with Nyemaster Goode, P.C. in Ames, Iowa. He has served as a member of the Company’s Board since 2011. He has also served on the First National Bank Board since 2008. Michelle Cassabaum is Chief Operating and Financial Officer and cofounder of 21st Century Rehab P.C. She has served on the board of directors of State Bank & Trust Co. since 2004.
John P. Nelson joined Ames National Corporation in 1993. He was appointed President and CEO of the Company in June 2018 after having served as the CFO of the Company since 1999. He has been a member of the Company board of directors since 2013 and also currently serves as Chairman of the Board of Boone Bank & Trust, First National Bank, Reliance State Bank, State Bank & Trust and United Bank & Trust. Kevin Schwartz has been a director of the Company since 2016. He is the Chief Executive Officer of Wolfe Clinic PC. Kevin has served on the board of directors of United Bank & Trust since 2003.


Other directors are:

• Betty Baudler Horras – President of Baudler Enterprises, Inc.
• Lisa Eslinger – Chief Financial and Administrative Officer for the Iowa State University Foundation
• Steve Forth – Row Crop Farmer in Western Story County
• Patrick Hagan - Senior Vice President and Treasurer of Fareway Stores, Inc.
• James Larson II – President of Larson Development Corporation
• John Pierschbacher – Chief Financial Officer at Ames National Corporation
• Thomas Pohlman – Chairman of Ames National Corporation

 

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, Reliance State Bank, Story City, and United Bank & Trust, Marshalltown. Information regarding the process for purchasing stock can be obtained through Richard Nelson at First Point Wealth Management, (515) 663-3074.

For further information contact:
John P. Nelson, President and CEO
(515) 232-6251 or 
John.Nelson@amesnational.com