The strong beat and expanding NIM signal continued margin improvement from the declining cost of funds and higher-yielding reinvestments. Watch for resolution of the $52M substandard loan pool, particularly the large 1-4 family residential relationship, and whether consultant fees for contract negotiations ($600K in Q3) lead to a strategic transaction.
Price Chart
Executive Summary
Ames National Corp reported Q3 2026 EPS of $0.80, a 14.3% beat vs the $0.70 consensus, driven by a 20.7% increase in net interest income to $17.0M and a 36.7% surge in noninterest income. Net interest margin expanded to 3.38% from 2.83% a year ago, while credit quality showed mixed signals with substandard loans rising to $52.0M but nonperforming assets declining sequentially.
Key Financial Metrics
Key Facts
- Q3 2026 EPS of $0.80 vs $0.70 consensus (14.3% beat)
- Net interest income rose 20.7% YoY to $17.0M
- Net interest margin (FTE) expanded to 3.38% from 2.83%
- Noninterest income increased 36.7% YoY to $3.5M
- Credit loss expense of $66K vs $627K in Q3 2025
- Substandard loans increased to $52.0M from $29.7M a year ago
- Nonperforming assets fell to $17.0M from $19.6M in Q2 2026
- Other borrowings reduced to $1.5M from $23.5M a year ago
- No shares repurchased under existing buyback program
Financial Impact
EPS beat consensus by $0.10 (14.3%); net interest income up $2.9M YoY
Risk Factors
- Substandard loans nearly doubled YoY to $52.0M, driven by multi-family occupancy declines and one large residential relationship
- Net loan charge-offs of $745K in Q3 vs net recoveries of $344K a year ago
- Deposits declined 0.1% YoY; 14% tied to external indexes creating rate sensitivity
- Consultant fees for contract negotiations expected to continue through 2026
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-032805 |
| Document: atlo20260824_8k.htm | 0001437749-26-032805 |
| Document: 0001437749-26-032805-index-headers.html | 0001437749-26-032805 |
| Document: 0001437749-26-032805-index.html | 0001437749-26-032805 |
| Document: 0001437749-26-032805.txt | 0001437749-26-032805 |
| 8-K Data (Synthetic) | 0001437749-26-032805 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 8-K | $32.31 $33.72 | ▲ +4.36% | ▲ +4.51% | $33.72 (+4.36%) |
Apr 24, 2026 26w ago | 8-K | $28.06 $28.25 | ▲ +0.68% | ▲ +0.28% | $33.72 (+20.17%) |
Mar 13, 2026 32w ago | DEFA14A | $26.65 $26.70 | ▲ +0.19% | ▲ +2.31% | $33.72 (+26.53%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers