Ames National Corp. Reports Operating Results (10-K)

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Mar 10, 2011
Ames National Corp. (ATLO, Financial) filed Annual Report for the period ended 2010-12-31.

Ames National Corp. has a market cap of $172.9 million; its shares were traded at around $18.33 with a P/E ratio of 13.3 and P/S ratio of 3.9. The dividend yield of Ames National Corp. stocks is 2.4%.

Highlight of Business Operations:

As of December 31, 2010, First National had capital of $52,342,000 and 90 full-time equivalent employees. Full-time equivalents represent the number of people a business would employ if all its employees were employed on a full-time basis. It is calculated by dividing the total number of hours worked by all full and part-time employees by the number of hours a full-time individual would work for a given period of time. First National had net income for the years ended December 31, 2010, 2009 and 2008 of approximately $6,869,000, $5,309,000 and $1,237,000, respectively. Total assets as of December 31, 2010, 2009 and 2008 were approximately $519,836,000, $471,243,000 and $445,212,000, respectively.

As of December 31, 2010, State Bank had capital of $14,144,000 and 24 full-time equivalent employees. State Bank had net income for the years ended December 31, 2010, 2009 and 2008 of approximately $2,465,000, $1,462,000 and $1,738,000, respectively. Total assets as of December 31, 2010, 2009 and 2008 were approximately $135,695,000, $134,947,000 and $121,792,000, respectively.

As of December 31, 2010, Boone Bank had capital of $12,968,000 and 27 full-time equivalent employees. Boone Bank had net income for the years ended December 31, 2010, 2009 and 2008 of approximately $1,736,000, $1,473,000 and $1,406,000, respectively. Total assets as of December 31, 2010, 2009 and 2008 were approximately $105,089,000, $104,957,000 and $101,882,000, respectively.

As of December 31, 2010, Randall-Story Bank had capital of $8,809,000 and 13 full-time equivalent employees. Randall-Story Bank had net income for the years ended December 31, 2010, 2009 and 2008 of approximately $1,144,000, $888,000 and $831,000, respectively. Total assets as of December 31, 2010, 2009 and 2008 were approximately $85,062,000, $79,497,000 and $78,199,000, respectively.

As of December 31, 2010, United Bank had capital of $10,653,000 and 22 full-time equivalent employees. United Bank had net income (loss) for the years ended December 31, 2010, 2009 and 2008 of approximately $1,205,000, $387,000 and $(87,000), respectively. Total assets as of December 31, 2010, 2009 and 2008 were approximately $106,819,000, $112,441,000 and $99,441,000, respectively.

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