Ames National (ATLO) investor relations material

Executive summary

• Q3 2026 net income was $7.0 million, or $0.80/share, vs. $4.6 million, or $0.51/share, in Q3 2025; higher net interest income was the primary earnings driver.

• 9M 2026 net income was $18.9 million, or $2.14/share, vs. $12.5 million, or $1.41/share, in 9M 2025.

Financial highlights

• Q3 net interest income rose 20.7% YoY to $17.0 million; 9M net interest income increased 20.6% to $48.8 million.

• Q3 noninterest income increased 36.7% YoY to $3.5 million; 9M income rose 15.9% to $9.0 million, led by wealth management and other income.

• Q3 noninterest expense rose 9.6% YoY to $11.2 million; 9M expense increased 7.8% to $33.3 million, driven by professional fees and salaries and benefits.

• Total assets were $2.08 billion at Sep. 30, 2026, down $25.8 million YoY; net loans were $1.26 billion, down 1.2%.

• Deposits were $1.831 billion, down 0.1% YoY; stockholders' equity was $205.8 million, up from $200.6 million.

Outlook and guidance

• Consultant fees for contract negotiations are expected to continue through 2026 while negotiations remain in process; fees were $600,000 in Q3 and $1.2 million for 9M.

• Bonus payouts are anticipated as performance thresholds are met, alongside normal salary and benefit increases.