Ames National Corporation Common Stock (ATLO)

FairStock Score: 69/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for banks that are simple, conservatively run, and bought at a sensible price. Ames National is a small Iowa multi-bank holding company with 261 employees and a $282.5 million market value. It takes deposits and makes loans in central Iowa, a business I can understand. The moat, if any, is local relationships and deposit loyalty, not scale; a bank this size has limited pricing power. At the 2026-10-13 close of $31.90, FairStock calculates a P/E of 12.36, P/B of 1.33, dividend yield of 3.00%, and ROE of 11.31%. That is not a steal, but it is not demanding either. The filed record shows a real recent improvement: in FY2024, the year ended 2024-12-31, net income was $10.2 million and diluted EPS $1.14, while in FY2025, the year ended 2025-12-31, net income was $19.0 million and diluted EPS $2.14. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $6.0 million and diluted EPS $0.67; in fiscal Q2 2026, the quarter ended 2026-06-30, it was $5.9 million and diluted EPS $0.67, versus $4.5 million and $0.51 in fiscal Q2 2025, the quarter ended 2025-06-30. Yet FairStock's Lynch category calls it a SLOW GROWER because profit grew only 0.2% a year over five years. Piotroski is 6/9, suggesting adequate but not pristine financial signals. The biggest gap is bank-specific risk data: CET1, net interest margin, nonperforming loans, reserves, efficiency ratio and combined ratio are not in the figures provided. Without them, leverage and credit risk cannot be properly judged. I would call it a fair-to-modestly-cheap community bank with improving recent earnings but an opaque risk profile.

In plain English: Ames National is a small Iowa bank holding company that takes deposits and makes loans in several local communities. The business looks stable, and profits have improved in the latest filed periods, though long-term growth has been slow. At $31.90 a share, the price looks roughly fair to somewhat cheap compared with the company's earnings and accounting value, but not a deep bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer