Ames National Corp
amesnational.comWhat Do They Do?
Provides loans, deposit accounts and wealth management to Iowa businesses, residents and public entities through its community banks.
10-K for FY2025, filed Mar 12, 2026The Banks’ lending activities consist primarily of short-term and medium-term commercial, multi-family and agricultural real estate loans…View ↗
As a multi-bank holding company for six community banks, the Company emphasizes strong personal relationships to provide products and…View ↗
The Banks offer a full range of deposit services that are typically available in most financial institutions, including checking accounts…View ↗
First National, Boone Bank, State Bank, United Bank and Iowa State Bank offer wealth management services typically found in a commercial…View ↗
How Do They Make Money?
The banks earn interest on loans and investments as it accrues under their terms, and earn customer service fees as the related services are provided under their terms.
10-K for FY2025, filed Mar 12, 2026
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10-K for FY2025, filed Mar 12, 2026
FY2025 revenue by product or service (Noninterest income) ↗
$87.1M
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10-K for FY2025, filed Mar 12, 2026
$87.1M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Fiduciary and Trust
|
68%
FY2022: 61%
|
Fiduciary and Trust, FY2025
$6.3M Sources
|
|
Financial Service
|
17%
FY2022: 17%
|
Financial Service, FY2025
$1.5M Sources
|
|
Credit and Debit Card
|
16%
FY2022: 22%
|
Credit and Debit Card, FY2025
$1.4M Sources
|
Who Are Their Customers?
The banks serve small and medium-sized businesses, local residents and public entities in their Iowa markets, providing loans, deposits and wealth management directly through the banks.
10-K for FY2025, filed Mar 12, 2026The Banks’ lending activities consist primarily of short-term and medium-term commercial, multi-family and agricultural real estate loans…View ↗
As a multi-bank holding company for six community banks, the Company emphasizes strong personal relationships to provide products and…View ↗
The Banks offer a full range of deposit services that are typically available in most financial institutions, including checking accounts…View ↗
First National, Boone Bank, State Bank, United Bank and Iowa State Bank offer wealth management services typically found in a commercial…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 22 cents of every revenue dollar as net income in FY2025 and turned 24 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Growing. Revenue grew 44% in 4 years, from $60.5M in FY2021 to $87.1M in FY2025, about 10% a year.
Who Do They Compete With?
Competes with First Interstate Bank, U.S. Bank, and Wells Fargo Bank
10-K for FY2025, filed Mar 12, 2026The geographic market area served by the Banks is highly competitive with respect to both loans and deposits. The Banks compete principally…View ↗
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