Ames National (ATLO) Q2 2026 earnings summary

Executive summary

• Net income for Q2 2026 was $5.9 million ($0.67/share), up from $4.5 million ($0.51/share) in Q2 2025, driven by higher net interest income and lower funding costs.

• Six-month net income reached $11.9 million ($1.34/share), a 49.6% increase year-over-year.

• Return on average assets improved to 1.11% for Q2 2026 from 0.85% in Q2 2025; return on average equity rose to 11.24% from 9.67%.

Financial highlights

• Net interest income for Q2 2026 was $16.4 million, up 21.7% year-over-year; net interest margin rose to 3.18% from 2.65%.

• Noninterest income increased 2.3% to $2.7 million in Q2 2026; noninterest expense rose 7.8% to $11.2 million, mainly due to higher professional fees and salaries.

• Efficiency ratio improved to 58.52% in Q2 2026 from 64.34% in Q2 2025.

• Income tax expense for Q2 2026 was $1.8 million, with an effective tax rate of 23%.

Outlook and guidance

• Consultant fees related to contract negotiations are expected to continue throughout 2026.

• Anticipated bonus payouts are expected as performance thresholds are met.