Ames National (ATLO) investor relations material

Executive summary

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

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

Financial highlights

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

• Q3 noninterest income rose 36.7% to $3.5 million; 9M income increased 15.9% to $9.0 million, supported by wealth management and $235,000 in storm-damage insurance proceeds.

• Q3 noninterest expense increased 9.6% to $11.2 million and 9M expense rose 7.8% to $33.3 million; consultant fees were $600,000 in Q3 and $1.2 million for 9M.

• Total assets were $2.08 billion at September 30, 2026; net loans were $1.26 billion and deposits were $1.831 billion.

• Stockholders’ equity was $205.8 million, up from $200.6 million a year earlier; net loans were down 1.2% and deposits declined 0.1% YoY.

Outlook and guidance

• Consultant fees for contract negotiations were expected to continue through 2026 while negotiations remained in process; bonus payouts were anticipated as performance thresholds were met.

• Available liquidity sources were expected to support existing operations for the foreseeable future; liquid assets were $75.2 million, with $391.9 million in unpledged securities and interest-bearing deposits.

• No material capital expenditures or changes in capital resource mix were anticipated.