Ames National Q3 Net Income Jumps 55% to $7.0 Million, EPS $0.80, as Margin Widens to 3.38%
AMES, Iowa — Ames National Corporation (Nasdaq: ATLO) reported third-quarter 2026 results on October 16 in a Form 8-K filing. Third-quarter net income was $7.0 million, or $0.80 per share, up from $4.6 million, or $0.51 per share, in the same quarter of 2025. For the nine months ended September 30, 2026, net income totaled $18.9 million, or $2.14 per share, compared with $12.5 million, or $1.41 per share, a year earlier.
Net interest income drove the improvement. Third-quarter net interest income rose $2.9 million, or 20.7%, to $17.0 million, and the tax-equivalent net interest margin improved to 3.38% from 2.83% a year ago and 3.18% in the second quarter of 2026. For the nine-month period, net interest income increased $8.3 million, or 20.6%, to $48.8 million, with the margin expanding to 3.19% from 2.67%. The company attributed the improvement to higher yields and average balances on investments, lower deposit costs driven by lower market rates, and reduced borrowings.
Noninterest income rose 36.7% to $3.5 million, helped by higher wealth management fees and $235 thousand of storm-related insurance proceeds. Noninterest expense increased 9.6% to $11.2 million, including $600 thousand of consultant fees tied to ongoing contract negotiations. Credit loss expense was $66 thousand, down from $627 thousand a year earlier, and the efficiency ratio improved to 54.97% from 61.76%.
Published by GSM · USA (original Chinese edition)
Photo: Ames National 公司官方标识（公司官网） / Ames National official logo (company website)
