AI-extracted from the 10-Q filed 2026-08-07 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income surged 31% YoY to $5.9M as net interest margin expanded to 3.18% on higher investment yields and lower funding costs.
Biggest Revenue Drivers
Loans$17.3M+3.9% YoY
Interest income on loans increased due to higher yields on the portfolio.
Noninterest income$2.7M+2.3% YoY
Wealth management income and other service revenues.
Biggest Revenue Drivers
Total revenue: $23.3M+8.4% YoY
Loans$17.3M+3.9% YoY
Interest income on loans increased due to higher yields on the portfolio.
Noninterest income$2.7M+2.3% YoY
Wealth management income and other service revenues.
Largest Expense Items
Interest expense on deposits$6.5M-12.3% YoY
Decrease driven by declining market rates and reduced deposit balances.
Salaries and employee benefits$7.0M+8.2% YoY
Increase driven by anticipated bonus payouts as performance thresholds are met.
Data processing$1.5M+4.5% YoY
Normal course of business technology and processing costs.
Margins: Net interest margin on a fully taxable equivalent basis expanded significantly to 3.18% for Q2 2026 from 2.65% in Q2 2025, driven by higher yields on investments and a lower cost of deposits due to market rate declines. The 53 basis point expansion reflects improved asset yields and disciplined deposit pricing.
Watch Items from the Filing
Nonaccrual loans increased to $19.6M (1.55% of portfolio) as of June 30, 2026 from $15.1M (1.19%) at year-end 2025; significantly above Iowa peer average of 0.60%.
Substandard-impaired loans rose $4.5M to $19.1M; primarily due to one agricultural relationship classified as substandard-impaired.
Commercial real estate and multi-family loans comprise 38.9% of the $1.27B portfolio, facing elevated risk from interest rates and challenging market conditions.
Company breached one covenant under its line of credit agreement (modified Texas Ratio of 29.2% vs. 25% threshold), but lender waived noncompliance.
Loan portfolio decreased $30M; allowance for credit losses at 1.36% of loans provides modest coverage of deteriorating credit metrics.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About AMES NATIONAL CORP (ATLO): stock profile, AI score and financials
AMES NATIONAL CORP (ATLO) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores ATLO at 61.4/100 on a composite quality score built from its SEC filings, placing it at rank #789 of 2,925 stocks — the top half of the AI-ranked universe. ATLO scores in the top quartile across profitability (93.1), free cash flow (83.0), revenue growth (77.1). Areas of concern include revenue scale (12.3) and institutional flow (27.2), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), AMES NATIONAL CORP reports quarterly revenue of $19.1M, net income of $5.9M, an operating margin of 40.4%. Top institutional holders of ATLO by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. ATLO trades on the Nasdaq exchange and files with the SEC under CIK 1132651. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ATLO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for AMES NATIONAL CORP directly from SEC EDGAR.