Company DescriptionAmes National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, and Union counties in central, north-central, and south-central Iowa. The company accepts a range of deposits, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. It also provides loans, such as short-term and medium-term commercial and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; personal loans and lines of credit; agricultural and business operating loans and lines of credit; and originates mortgage loans for sale into the secondary market. In addition, the company offers cash management, merchant credit card processing, safe deposit box, wire transfer, direct deposit of payroll and social security check, and automated/video teller machine access services; and automatic drafts for various accounts, as well as wealth management services. Further, it provides farm management, investment, and custodial services for individuals, businesses, and non-profit organizations; and online, mobile, and private banking services. Ames National Corporation was founded in 1903 and is based in Ames, Iowa.
How the Company Makes MoneyAmes National Corporation generates revenue primarily through the interest income received from its lending activities. This includes interest from various loan products such as commercial, agricultural, and residential real estate loans. Additionally, the company earns income from service charges on deposit accounts, fees related to wealth management and fiduciary activities, and gains from the sale of loans. The corporation's earnings are also influenced by its investment securities portfolio, which provides interest and dividend income. Significant factors contributing to its earnings include interest rate fluctuations, loan demand, and economic conditions in its primary market of Iowa.