10-K
Annual Report
AMES NATIONAL CORPORATION
ATLO
NASDAQ
CIK: 1132651
File #: 0-32637
Balance Sheet
91 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
ASSETS | ||
Cash and due from banks | 24,105,000 | 20,819,000 |
Parent Company | 124,000 | 96,000 |
Interest-bearing deposits in financial institutions and federal funds sold | 30,996,000 | 7,065,000 |
Parent Company | 1,783,000 | 3,511,000 |
Total cash and cash equivalents | 55,101,000 | 27,884,000 |
Parent Company | 1,907,000 | 3,607,000 |
Interest-bearing time deposits | 8,904,000 | 14,669,000 |
Securities available-for-sale | 736,389,000 | 786,438,000 |
Estimate of Fair Value Measurement | 736,389,000 | 786,438,000 |
Reported Value Measurement | 736,389,000 | 786,438,000 |
Fair Value, Inputs, Level 3 - Fair Value, Recurring - Corporate Debt Securities | 0 | 0 |
Fair Value, Inputs, Level 2 - Fair Value, Recurring - Corporate Debt Securities | 71,931,000 | 75,164,000 |
Fair Value, Inputs, Level 1 - Fair Value, Recurring - Corporate Debt Securities | 0 | 0 |
Fair Value, Recurring - Corporate Debt Securities | 71,931,000 | 75,164,000 |
Fair Value, Inputs, Level 3 - Fair Value, Recurring - US States and Political Subdivisions Debt Securities | 0 | 0 |
Fair Value, Inputs, Level 2 - Fair Value, Recurring - US States and Political Subdivisions Debt Securities | 269,891,000 | 286,003,000 |
Fair Value, Inputs, Level 1 - Fair Value, Recurring - US States and Political Subdivisions Debt Securities | 0 | 0 |
Fair Value, Recurring - US States and Political Subdivisions Debt Securities | 269,891,000 | 286,003,000 |
Fair Value, Inputs, Level 3 - Fair Value, Recurring - Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises | 0 | 0 |
Fair Value, Inputs, Level 2 - Fair Value, Recurring - Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises | 101,864,000 | 116,741,000 |
Fair Value, Inputs, Level 1 - Fair Value, Recurring - Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises | 0 | 0 |
Fair Value, Recurring - Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises | 101,864,000 | 116,741,000 |
Fair Value, Inputs, Level 3 - Fair Value, Recurring - US Government Agencies Debt Securities | 0 | 0 |
Fair Value, Inputs, Level 2 - Fair Value, Recurring - US Government Agencies Debt Securities | 92,615,000 | 100,933,000 |
Fair Value, Inputs, Level 1 - Fair Value, Recurring - US Government Agencies Debt Securities | 0 | 0 |
Fair Value, Recurring - US Government Agencies Debt Securities | 92,615,000 | 100,933,000 |
Fair Value, Inputs, Level 3 - Fair Value, Recurring - US Treasury Securities | 0 | 0 |
Fair Value, Inputs, Level 2 - Fair Value, Recurring - US Treasury Securities | 0 | 0 |
Fair Value, Inputs, Level 1 - Fair Value, Recurring - US Treasury Securities | 200,088,000 | 207,597,000 |
Fair Value, Recurring - US Treasury Securities | 200,088,000 | 207,597,000 |
Corporate Debt Securities | 71,931,000 | 75,164,000 |
US States and Political Subdivisions Debt Securities | 269,891,000 | 286,003,000 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises | 101,864,000 | 116,741,000 |
US Government Agencies Debt Securities | 92,615,000 | 100,933,000 |
US Treasury Securities | 200,088,000 | 207,597,000 |
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost | 3,086,000 | 4,613,000 |
Loans receivable, net | 1,277,812,000 | 1,226,011,000 |
Parent Company | 906,000 | 1,084,000 |
Loans held for sale | 124,000 | 154,000 |
Bank premises and equipment, net | 22,549,000 | 18,895,000 |
Parent Company | 2,793,000 | 2,378,000 |
Accrued income receivable | 12,953,000 | 11,275,000 |
Parent Company | 1,000 | 2,000 |
Bank-owned life insurance | 3,131,000 | 3,054,000 |
Deferred income taxes, net | 16,496,000 | 22,130,000 |
Other intangible assets, net | 1,429,000 | 1,931,000 |
Goodwill | 12,424,000 | 12,424,000 |
Other assets | 5,083,000 | 5,448,000 |
Parent Company | 103,000 | 70,000 |
Total assets | 2,155,481,000 | 2,134,926,000 |
Parent Company | 172,466,000 | 155,968,000 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
LIABILITIES | ||
Noninterest-bearing checking | 370,942,000 | 391,576,000 |
Interest-bearing checking | 611,891,000 | 617,379,000 |
Savings and money market | 552,275,000 | 675,031,000 |
Time, $250 and over | 67,733,000 | 42,886,000 |
Other time | 208,990,000 | 171,085,000 |
Total deposits | 1,811,831,000 | 1,897,957,000 |
Securities sold under agreements to repurchase | 53,994,000 | 40,676,000 |
Other borrowings | 110,588,000 | 39,120,000 |
Dividends payable | 2,428,000 | 2,428,000 |
Parent Company | 2,428,000 | 2,428,000 |
Accrued interest payable | 4,710,000 | 666,000 |
Accrued expenses and other liabilities | 6,142,000 | 4,981,000 |
Parent Company | 762,000 | 742,000 |
Total liabilities | 1,989,693,000 | 1,985,828,000 |
Parent Company | 6,678,000 | 6,870,000 |
STOCKHOLDERS' EQUITY | ||
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 8,992,167 shares as of December 31, 2023 and 2022 | 17,984,000 | 17,984,000 |
Parent Company | 17,984,000 | 17,984,000 |
Additional paid-in capital | 14,253,000 | 14,253,000 |
Parent Company | 14,253,000 | 14,253,000 |
Retained earnings | 180,438,000 | 179,931,000 |
Parent Company | 180,438,000 | 179,931,000 |
Accumulated other comprehensive (loss) | (46,887,000) | (63,070,000) |
Parent Company | (46,887,000) | (63,070,000) |
Total stockholders' equity | 165,788,000 | 149,098,000 |
Parent Company | 165,788,000 | 149,098,000 |
Cumulative Effect, Period of Adoption, Adjustment | — | (603,000) |
Cumulative Effect, Period of Adoption, Adjustment - AOCI Attributable to Parent | — | 0 |
Cumulative Effect, Period of Adoption, Adjustment - Retained Earnings | — | (603,000) |
Cumulative Effect, Period of Adoption, Adjustment - Additional Paid-in Capital | — | 0 |
Cumulative Effect, Period of Adoption, Adjustment - Common Stock | — | 0 |
AOCI Attributable to Parent | (46,887,000) | (63,070,000) |
Retained Earnings | 180,438,000 | 179,931,000 |
Additional Paid-in Capital | 14,253,000 | 14,253,000 |
Common Stock | 17,984,000 | 17,984,000 |
Total liabilities and stockholders' equity | 2,155,481,000 | 2,134,926,000 |
Parent Company | 172,466,000 | 155,968,000 |