Ames National Corp.
- ATLO · Nasdaq
- National Commercial Banks
- Ames, IA
- 260 employees
- CIK 0001132651
Updated from SEC filings through
Top things to know
Executives
- Justin C. Clausen Chief Financial Officer 5, 2026-02-03
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John Patrick Nelson President 5, 2026-02-03 - John P. Nelson President and Chief Executive Officer of the Company DEF 14A, 2026-03-13
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Michael A. Wilson Executive Vice President and Chief Lending Officer of the Company DEF 14A, 2026-03-13 -
Scott T. Bauer President of First National Bank DEF 14A, 2026-03-13
Ames National Corp is a U.S. public company in national commercial banks (SIC 6021), headquartered in Ames, IA. It trades as ATLO on Nasdaq. Revenue was $87.1M in the fiscal year ending December 31, 2025, +5.4% from the year before. It reported about 260 employees.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $87.1M 10-K, 2026-03-12 | $82.6M 10-K, 2026-03-12 | $74.3M 10-K, 2025-03-12 | $61.6M 10-K, 2024-03-08 | $60.5M 10-K, 2023-03-10 |
| Operating income | Not on file | Not on file | Not on file | Not on file | Not on file |
| SG&A | Not on file | Not on file | Not on file | Not on file | Not on file |
| Net income | $19.0M 10-K, 2026-03-12 | $10.2M 10-K, 2026-03-12 | $10.8M 10-K, 2025-03-12 | $19.3M 10-K, 2024-03-08 | $23.9M 10-K, 2023-03-10 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| John P. Nelson | Named in proxy bio: President and Chief Executive Officer of the Company | DEF 14A, 2026-03-13 |
| Justin C. Clausen Chief Financial Officer at Ames National Corporation | Chief Financial Officer | 5, 2026-02-03 |
| Michael A. Wilson | Named in proxy bio: Executive Vice President and Chief Lending Officer of the Company | DEF 14A, 2026-03-13 |
| Scott T. Bauer | Named in proxy bio: President of First National Bank | DEF 14A, 2026-03-13 |
| John Patrick Nelson | President | 5, 2026-02-03 |
| Amy F. Rieck | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Everett S. Miles | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Jeffery C. Baker | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| John L. Pierschbacher | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Kevin L. Swartz | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Michelle R. Cassabaum | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Patrick G. Hagan | Board member (per proxy) bio: Chairman of Board | DEF 14A, 2026-03-13 |
| Scot A. Trost | Board member (per proxy) bio: director | DEF 14A, 2026-03-13 |
| Lisa M. Eslinger | director | 10-K, 2026-03-12 |
What Ames National Corp does
Ames National Corporation (the "Company") is an Iowa corporation and bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company owns 100% of the stock of six bank subsidiaries consisting of one national bank and five state-chartered banks, as described below. All of the Company’s operations are conducted in the State of Iowa and primarily within the central, north-central and south-central Iowa counties of Boone, Clarke, Hancock, Marshall, Polk, Story, Taylor and Union where the Company’s banking subsidiaries are located.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 8.9 million (as of October 31, 2026) | 10-Q, November 6, 2026 |
|---|---|---|
| Public float | $156M (as of June 30, 2025) | 10-K, March 12, 2026 |
| Reportable segments | 1 (period ending December 31, 2025) | 10-K, March 12, 2026 |
| Latest proxy statement | Meeting April 29, 2026 (filed March 13, 2026) | DEF 14A, March 13, 2026 |
| Auditor | Forvis Mazars LLP (Springfield, MO) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| October 30, 2026 | Michelle R. Cassabaum Director | Buy | 48 | $2K | Form 4, November 2, 2026 |
| September 9, 2026 | Jeffery C. Baker Director | Buy | 300 | $10K | Form 4, September 10, 2026 |
| August 31, 2026 | Michelle R. Cassabaum Director | Buy | 180 | $6K | Form 4, September 1, 2026 |
| August 20, 2026 | Douglas W. Beals Director | Buy | 325 | $10K | Form 4, August 21, 2026 |
| July 31, 2026 | Michelle R. Cassabaum Director | Buy | 140 | $4K | Form 4, August 3, 2026 |
| May 29, 2026 | Michelle R. Cassabaum Director | Buy | 170 | $5K | Form 4, May 29, 2026 |
| May 15, 2026 | Patrick G. Hagan Director | Buy | 200 | $6K | Form 4, May 15, 2026 |
| May 12, 2026 | Patrick G. Hagan Director | Buy | 100 | $3K | Form 4, May 12, 2026 |
Recent 8-K events
- 8-K filed 2026-10-16
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-08-13
- Item 8.01 Other events
- 8-K filed 2026-07-17
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-05-15
- Item 8.01 Other events
- 8-K filed 2026-05-01
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-04-24
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-02-13
- Item 7.01 Regulation FD disclosure
- Item 8.01 Other events
- 8-K filed 2026-01-23
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-11-13
- Item 8.01 Other events
- 8-K filed 2025-10-17
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Ames National Corp
- What does Ames National Corp do?
- In its own words, from Item 1 of its 10-K: "Ames National Corporation (the "Company") is an Iowa corporation and bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company owns 100% of the stock of six bank subsidiaries consisting of one national bank and five state-chartered banks, as described below. All of the Company’s operations are conducted in the State of Iowa and primarily within the central, north-central and south-central Iowa counties of Boone, Clarke, Hancock, Marshall, Polk, Story, Taylor and Union where the Company’s banking subsidiaries are located."
- What is Ames National Corp's revenue?
- $87.1M for the fiscal year ending December 31, 2025, from its 10-K filed March 12, 2026.
- Is Ames National Corp profitable?
- Ames National Corp reported net income of $19.0M for the fiscal year ending December 31, 2025.
- How many employees does Ames National Corp have?
- About 260 as of December 31, 2025, as stated in its annual report.
- Who is the CFO of Ames National Corp?
- Justin C. Clausen, Chief Financial Officer, as named in a 5 filed February 3, 2026.
- Where is Ames National Corp headquartered?
- Ames, IA.
- What is Ames National Corp's stock ticker?
- ATLO on Nasdaq.
- What industry is Ames National Corp in?
- National Commercial Banks, SIC code 6021.
- What is Ames National Corp's website?
- amesnational.com.
- When does Ames National Corp report earnings next?
- January 15, 2027. Source: estimate_8k_pattern.
- Is Ames National Corp a public company?
- Yes. Ames National Corp files with the SEC under CIK 0001132651 and trades as ATLO.
- Who audits Ames National Corp?
- Forvis Mazars LLP, Springfield, MO, as named in its latest annual report (10-K).
- How many shares of Ames National Corp are outstanding?
- 8.9 million shares as of October 31, 2026, from its 10-Q filed November 6, 2026.
- What is Ames National Corp's public float?
- $156M as of June 30, 2025, as reported on the cover of its 10-K filed March 12, 2026.
- How many business segments does Ames National Corp report?
- 1 reportable segment for the period ending December 31, 2025, from its 10-K filed March 12, 2026.
- When is Ames National Corp's annual shareholder meeting?
- April 29, 2026, per its proxy statement (DEF 14A) filed March 13, 2026.
- Have Ames National Corp insiders traded stock recently?
- Since July 31, 2025, officers and directors reported 0 open-market sales and 19 purchases worth about $100K on Forms 4 and 5. The most recent: Michelle R. Cassabaum (Director) bought 48 shares on October 30, 2026.