Ames National Corp (NASDAQ: ATLO)

Ames National Corporation is a bank holding company registered under the Bank Holding Company Act of 1956. The company owns 100 percent of the stock of six bank subsidiaries consisting of one national bank and five state chartered banks. All of its operations are conducted in the state of Iowa primarily within the central north central and south central Iowa counties of Boone Clarke Hancock Marshall Polk Story Taylor and Union. The company does not engage in any material business activities apart from its ownership of its banking subsidiaries and the management of its own loan portfolios.

The company generates revenue primarily from interest and fees earned on loans made or held by its banks. Additional revenue comes from interest on investments mainly bonds held by the banks. Fees from wealth management services contribute to income. Service charges on deposit accounts maintained at the banks add to revenue. Merchant and card fees also provide income. Gains on the sale of loans and securities gains or losses are further sources of revenue.

Ames National Corporation operates as a community focused bank holding company in Iowa. It competes with larger national banks such as Wells Fargo Bank U S Bank National Association and First Interstate Bank as well as with credit unions savings and loan associations mortgage companies and other financial service providers. The company's competitive advantages stem from its local presence personalized service and expertise in agricultural lending. Its focus on small to medium sized businesses allows it to build long term relationships that larger institutions may find difficult to replicate.

The company serves individuals small to medium sized businesses agricultural producers and public entities within its market area. Its customers include residents of the Ames Boone Marshalltown Story City Garner and Creston communities as well as farmers and ranchers across the central north central and south central Iowa regions. No specific customer names are disclosed in the filing.