2021 SUMMARY
ANNUAL REPORT
AMES NATIONAL CORPORATION AT A GLANCE
MISSION STATEMENT
Background
Affiliate Bank Structure
Ames National Corporation (ANC) is an Iowa-based
bank holding company. ANC was organized and
incorporated on January 21, 1975, under the laws of
the State of Iowa to serve as a holding company for
its principal banking subsidiary, First National Bank,
Ames, Iowa. In 1983, ANC acquired the stock of State
Bank & Trust Co. located in Nevada, Iowa; in 1991, ANC
acquired Boone Bank & Trust Co., located in Boone,
Iowa; in 1995, ANC acquired the stock of Reliance
State Bank located in Story City, Iowa; and in 2002,
ANC chartered and commenced operations of United
Bank & Trust NA, located in Marshalltown, Iowa. In
2012, Reliance State Bank acquired an office located
in Garner, Iowa. In 2014, First National Bank acquired
three offices located in West Des Moines and Johnston,
Iowa, and two locations in the Osceola, Iowa area in
2018. In 2019, ANC acquired Iowa State Savings Bank
headquartered in Creston, Iowa.
Each affiliate bank operates independently with a
board of directors and a bank president. Decisions are
made locally, which means customers receive quick
responses to questions, and services are customized
to meet customer needs in each community.
The affiliate banks’ lending activities consist primarily
of short-term and medium-term commercial,
agricultural and residential real estate loans,
agricultural and business operating loans, lines of
credit, home improvement loans and the origination
of mortgage loans for sale into the secondary market.
Affiliate banks also offer a variety of checking, savings,
money market and time deposits accounts; cash
management services; wealth management and trust
services; merchant credit card processing; and safe
deposit box services. Convenient access to funds and
account information is also available through: Online
Banking, Video Banking, Mobile Banking, Online Bill
Pay, Mobile Wallet, online statements and debit cards.
Ames National Corporation Services
ANC provides various services to the affiliate banks, which include: management assistance, payroll,
internal auditing, human resources, compliance management, marketing assistance, loan review,
technology support, training and employee development. ANC employees seek to incorporate
efficiencies across the affiliate banks’ operational functions so the affiliate bank management teams
can focus on what they do best: banking and taking care of customers’ financial needs.
Ames National Corporation is a results-oriented financial services holding
company providing leadership, counsel and support to its community
affiliate banks and superior performance for its shareholders.
CORE VALUES
Ames National Corporation’s foundation is built on these values which guide our actions.
E X C E L L E N C E • I N T E G R I T Y • L E A D E R S H I P
S T A B I L I T Y • T R U S T • C O M M U N I T Y
STRATEGIC DIRECTION
The Ames National Corporation five-year strategic plan is focused on three driving initiatives:
Employee engagement
Enhance systems and activities to acquire, develop and retain employees.
Customer engagement
Develop a customer experience that supports relationship growth and customer acquistion.
Continuous improvement
Continually improve key processes to increase customer engagement, employee engagement and
shareholder value.
LETTER TO SHAREHOLDERS
As the pandemic persisted into the 2021 financial
year, Ames National Corporation (the “Company”)
and our affiliate banks delivered on our mission to
our customers, employees and shareholders with a
strong financial performance. Our purpose has been
magnified and elevated as our banks continue to
support personal and business customers impacted by
COVID-19.
Building on the momentum we created leading
up to the pandemic has provided us with a strong
sense of direction throughout the past year. The
strength and stability of a well-capitalized holding
company allowed us to weather record-low interest
rates and lingering pandemic related trials and still
prosper and grow as an organization.
Net loans as of December 31, 2021 increased slightly to
$1.14 billion, as compared to $1.13 billion as of December
31, 2020. Excluding the $44.9 million decrease in PPP
loans, net loans increased $59.5 million or 5% in 2021.
Loan quality metrics improved during 2021 compared
to 2020 as substandard and impaired loan volumes
were reduced by $6.3 million. An additional positive
development was the recording of net loan loss
recoveries of $163 thousand for 2021 compared to net
loan charge offs of $1.1 million for 2020.
Deposits totaled $1.88 billion as of December 31,
2021, an increase of 9%, compared to $1.72 billion
as of December 31, 2020. The growth in deposits
is primarily due to federal government stimulus
programs and increases in core deposits, including
retail and, to a lesser extent, commercial funds.
Financial Results
Ames National Corporation was able to reach record
levels of net income, assets, loans, deposits, and capital
during 2021. We are pleased to provide our 2021 financial
overview and highlight drivers of this record setting year.
Annual net income for the Company totaled $23.9 million,
or $2.62 per share, in 2021 compared to $18.9 million,
or $2.06 per share, in 2020. The increase in earnings is
primarily the result of a decrease in the provision for
loan losses in 2021 compared to 2020, as uncertainties
associated with the economic slow-down created by the
pandemic began to lessen. Further contributing to the
improved net income was a reduction in interest expense
due to declines in market interest rates.
Net interest income for 2021, was $1.2 million higher
than the prior year. The improved net interest income
is primarily attributable to lower deposit interest
expense and to the Paycheck Protection Program
(PPP) annual fees of $4.3 million recognized in 2021
compared to $2.3 million in 2020.
Annual noninterest income for 2021 totaled $10.5
million compared to $10.6 million for 2020; while
noninterest expense totaled $36.6 million for 2021 and
2020.
4 2021 Annual Report | Ames National Corporation
Highlights & Innovations
Changing consumer behaviors, expectations and
preferences caused us to rethink much of what we
do. The need to integrate advancing technology, build
relationships and empower our team to continue to
meet the wants and needs of customers pushed us
to be more agile and innovative. Across our affiliate
banks, we have shown we are both flexible and
resilient. A few notable highlights include:
First National Bank is replacing our existing Valley
Junction building with a new 5,000 square foot
building.
Partnered with small businesses to originate and
service 2,152 PPP loans which represented over
$123.3 million to support local business during the
pandemic.
We invest in each of the communities we serve
through financial education, monetary contributions
and volunteering our time and talents.
We continue to invest in and expand our digital
offerings to enhance the customer experience.
ANC surpassed $2 billion in assets and thanked our
employees for achieving this milestone.
Board of Directors
In Summary
During 2021, two new directors were appointed to our
affiliate banks’ Boards of Directors. Jeff Baker joined the
First National Bank (FNB) Board of Directors. Mr. Baker
retired from the accounting and consulting firm RSM
US LLP where he specialized in banking, other financial
services entities and public companies. In addition to
his role as an audit partner, he was the Firm’s national
director of banking services. Jeff Rasmussen, CPA
and proprietor of Bergman Tax and Accounting in
Marshalltown, IA joined the United Bank & Trust (UBT)
Board of Directors. Mr. Rasmussen has over 18 years of
experience in accounting and tax matters and worked
as the CFO of Marshalltown Company prior to joining
the Bergman firm. Amy Rieck, PHR and Chief Human
Resources Officer of Greater Regional Health in Creston
joined the Iowa State Savings Bank Board of Directors.
Amy and her husband own KSIB Radio station in
Creston, raise and show livestock, and operate two
additional local businesses.
We also want to thank the members of the affiliate
banks’ Board of Directors who will be retiring this
upcoming May for their dedicated work and assistance
to our success. Dave Benson will be leaving the FNB
Board of Directors but will remain on the ANC Board.
John Wise will be leaving the UBT Board of Directors.
We are grateful to our Board members for lending their
expertise to further our mission and for providing us
with valuable insight into the communities we serve.
Economic Outlook
We are expecting increased volatility in the bond and
equity markets as investors try to read the tea leaves on
inflation, interest rates, and supply chain impediments
on business profitability. Presently, economists
prognostications for interest rates in 2022 is a 1%
increase short term rates. With the Consumer Price
Index All Urban Consumer (CPI) for December 2021
increasing 7% over the last 12 months; the question
for many, is will a 1% hike in interest rates be enough
to dampen the increasing momentum of higher prices
which started in 2021. This relationship between
interest rates and inflation will likely have a significant
impact on our deposit interest expense in 2022.
As we turn our attention to 2022, our team at ANC and
the affiliate banks are aligned and motivated to build
on the progress and lessons learned over the past year.
Our strategic priorities build on our strong foundation
and positions us for the future. We are stepping
forward, focused on our integrated strategy and our
immediate priorities to grow through the challenges
we are facing. Over the past year, ANC has set a more
ambitious agenda to build tomorrows’ bank today.
Introducing and offering the best digital tools that help
customers achieve their financial goals and maintaining
our excellent customer service standards are core
to this ambition. In aspiring to these ambitions, we
recognize the importance of achieving a balance for all
stakeholders and thank our employees, customers, and
shareholders for your support.
Annual Meeting
We look forward to providing you additional financial
highlights at our Annual Meeting of Shareholders
which will be held on April 27, 2022 at 4:30 p.m.
More details are available on page 15 of this report.
We encourage you to attend the annual
meeting virtually.
Thomas H. Pohlman
Chairman
John P. Nelson
President & CEO
FINANCIAL HIGHLIGHTS
As of and for the year ended December 31, 2021
PERFORMANCE RECORD
Net Income
$23.9 Million
Assets
$2.14 Billion
Dividends Paid
Per Share
$1.03
ROA
1.15%
ROE
11.43%
ATLO Closing
Price
$24.49
Per Common Share
2021
Cash Dividends Declared $1.29
Cash Dividends Paid
$1.03
Loan Quality
Market Price Per Share
2021 2020
2021 2020
Allowance
1.43% 1.50%
Closing
$24.49 $24.02
Dividend Payout*
39.26%
Net Charge-Offs -0.01% 0.10%
High
$27.90 $28.05
Dividend Yield**
4.25%
Non Performing 1.11% 1.33%
Low
$22.04 $16.53
* Cash dividends paid divided by net income
** Based upon latest quarterly dividend of $0.26 and year-end ALTO closing price
6 2021 Annual Report | Ames National Corporation
THREE-YEAR FINANCIAL HIGHLIGHTS
$25
$24
$23
$22
$21
$20
$19
$18
$17
$16
$15
$14
$13
$2,100
$2,000
$1,900
$1,800
$1,700
$1,600
$1,500
$1,400
$1,300
$1,200
$1,100
$1,000
$900
$800
.
9
3
2
$
1
2
0
2
.
9
8
1
$
0
2
0
2
Earnings
Millions of Dollars
3
8
0
2
$
,
6
6
8
1
$
,
1
2
0
2
0
2
0
2
Average Total Assets
Millions of Dollars
.
2
7
1
$
9
1
0
2
4
0
5
1
$
,
9
1
0
2
$2.70
$2.60
$2.50
$2.40
$2.30
$2.20
$2.10
$2.00
$1.90
$1.80
$1.70
$1.60
$1.50
$1,900
$1,800
$1,700
$1,600
$1,500
$1,400
$1,300
$1,200
$1,100
$1,000
$900
$800
$700
$600
2
6
2
$
.
1
2
0
2
6
0
2
$
.
0
2
0
2
Earnings Per Share
Dollars
3
2
8
1
$
,
1
1
6
1
$
,
1
2
0
2
0
2
0
2
Average Deposits
Millions of Dollars
6
8
1
$
.
9
1
0
2
8
6
2
1
$
,
9
1
0
2
$230
$220
$210
$200
$190
$180
$170
$160
$150
$140
$130
$120
$110
$1,400
$1,300
$1,200
$1,100
$1,000
$900
$800
$700
$600
$500
$400
$300
$200
$100
8
0
2
$
9
0
2
$
1
2
0
2
0
2
0
2
Capital
Millions of Dollars
2
4
1
1
$
,
8
3
1
1
$
,
8
8
1
$
9
1
0
2
1
2
9
$
1
2
0
2
0
2
0
2
9
1
0
2
Average Loans
Millions of Dollars
AFFILIATE BANKS
Contact: (515) 432-6200
www.boonebankiowa.com
Charter: State
Organized: 1883
Offices: Two locations in
Boone, Iowa
Employees: 21
Capital: $15.1 Million
Assets: $159 Million
2021 Net Income: $1.9 Million
Contact: (515) 232-5561
www.FNB247.com
Charter: National
Organized: 1903
Offices: Nine locations in Ames,
Ankeny, Johnston, Osceola, and
West Des Moines, Iowa
Employees: 125
Capital: $103 Million
Assets: $1.11 Billion
2021 Net Income: $13.1 Million
Contact: (641) 753-5900
www.ISSBbank.com
Charter: State
Organized: 1883
Offices: Three locations in
Creston and Lenox, Iowa
Employees: 34
Capital: $26.5 Million
Assets: $252 Million
2021 Net Income: $2.1 Million
8 2021 Annual Report | Ames National Corporation
Contact: (515) 733-4396
www.RSBiowa.com
Charter: State
Organized: 1928
Offices: Two locations in Story
City and Garner, Iowa
Employees: 33
Capital: $29.7 Million
Assets: $286 Million
2021 Net Income: $3.2 Million
Contact: (641) 753-5900
www.ubtna.com
Charter: National
Organized: 2002
Offices: Two locations in
Marshalltown, Iowa
Employees: 20
Capital: $11.3 Million
Assets: $126 Million
2021 Net Income: $1.2 Million
Contact: (515) 382-2191
www.bankSBT.com
Charter: State
Organized: 1939
Offices: One location in
Nevada, Iowa
Employees: 20
Capital: $19.1 Million
Assets: $209 Million
2021 Net Income: $3.3 Million
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
Unaudited
ASSETS
Cash and due from banks
Interest-bearing deposits in financial institutions and federal funds sold
Total cash and cash equivalents
Interest-bearing time deposits
Securities available-for-sale
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost
Loans receivable, net
Loans held for sale
Bank premises and equipment, net
Accrued income receivable
Bank-owned life insurance
Deferred income taxes, net
Other intangible assets, net
Goodwill
Other assets
Total assets
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Deposits
Non-interest bearing checking
Interest bearing checking
Savings and money market
Time, $250,000 and over
Other time
Total deposits
Securities sold under agreements to repurchase
FHLB advances
Dividends payable
Deferred income taxes, net
Accrued expenses and other liabilities
Total liabilities
STOCKHOLDERS’ EQUITY
December 31, 2021
December 31, 2020
$
$
19,590
69,539
89,129
16,922
831,003
3,422
1,144,108
-
17,512
10,124
2,985
1,922
2,505
12,424
4,985
24,819
148,278
173,097
18,426
596,999
3,148
1,129,505
1,621
17,340
11,143
2,916
-
3,133
12,424
5,896
$
2,137,041
$
1,975,648
$
411,585
$
575,997
674,975
40,793
174,669
1,878,019
39,851
3,000
2,364
-
6,029
349,500
528,796
581,224
60,019
196,907
1,716,446
37,293
3,000
-
1,731
7,691
1,929,263
1,766,161
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding
18,184
18,245
9,092,167 (unaudited) and 9,122,747 shares as of December 31, 2021 and 2020, respectively
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income
Total stockholders’ equity
Total liabilities and stockholders’ equity
16,353
170,377
2,864
207,778
17,002
158,217
16,023
209,487
$
2,137,041
$
1,975,648
10 2021 Annual Report | Ames National Corporation
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except share and per share data)
Unaudited
INTEREST AND DIVIDEND INCOME:
Loans, including fees
Securities
Taxable
Tax-exempt
Other interest and dividend income
Total interest and dividend income
INTEREST EXPENSE:
Deposits
Other borrowed funds
Total interest expense
Net interest income
Provision (credit) for loan losses
Net interest income after provision (credit) for loan
losses
NON-INTEREST INCOME:
Wealth management income
Service fees
Securities gains, net
Gain on sale of loans held for sale
Merchant and card fees
Other non-interest income
Total non-interest income
NON-INTEREST EXPENSE:
Salaries and employee benefits
Data processing
Occupancy expenses, net
FDIC insurance assessments
Professional fees
Business development
Intangible asset amortization
New market tax credit projects amortization
Other operating expenses, net
Total non-interest expense
Income before income taxes
Income Tax Expense
Net Income
Basic and diluted earnings per share
Declared dividends per share
Years Ended December 31
2021
2020
$
47,829
$
50,470
8,861
3,095
697
60,482
4,342
143
4,485
55,997
(757)
56,754
4,448
1,474
24
1,673
2,019
899
10,537
7,764
3,628
1,079
62,941
7,821
277
8,098
54,843
5,681
49,162
3,848
1,523
430
2,112
1,772
935
10,620
22,281
22,869
5,549
2,664
578
1,663
1,465
628
639
1,151
36,618
30,673
6,760
23,913
2.62
1.29
$
$
$
5,182
2,668
313
1,537
1,082
826
639
1,435
36,551
23,231
4,381
18,850
2.06
0.75
$
$
$
STATE BANK & TRUST
Historically, banks have been the
core of a strong community. More
than 80 years of banking in Nevada
confirm that State Bank & Trust Co.
(SBT) is a community pillar with a
talented team of local experts offering
decisions made close to the customer.
State Bank & Trust is a full-service
bank, serving Nevada and Eastern
Story County communities from one
convenient location, whose goal is
to simplify your banking and life by
providing you with a level of personal
service you don’t often find today.
As a local, community bank, we work
to give our clients the most dependable
and secure banking experience
possible. When you begin to explore
what a local, community bank means,
you begin to understand how our commitment to the
Nevada community prepared us to meet the challenges
of 2021.
The strength and resiliency of an organization is best
defined by its ability to respond to the unexpected.
That’s where experience comes into play. In 2021, we
drew on the collective knowledge of our entire team
and generations of bankers before us.
We knew we were in for a test as we navigated a
persistent global pandemic and a two-year Nevada
Main Street project to repave the streets and repair
infrastructure, which restricted customer access to our
building and drive up. We planned, got creative, and
worked together. While clients were sometimes unable
to visit the bank, that didn’t stop their need for banking
services. Many were introduced to online and mobile
banking systems for the first time. During the height
of the pandemic, our team shifted into split-teams,
allowing remote work to become a reality. We relied
on ANC and their technology to provide a safe working
environment for all. Committed to our clients, our team
proved day after day that high-touch service can be
delivered in a challenging environment.
12 2021 Annual Report | Ames National Corporation
Nevada created a new Community Garden in 2021. SBT donated funds
to build raised beds in the garden.
The bank became a lifeline for financial information for
our commercial and ag clients. Navigating the rules of
the Paycheck Protection Program was overwhelming
for many. Our business banking team was on the
front line, working to ensure that every customer got
the necessary attention and guidance. Their work
directly supported the preservation of many local jobs
and businesses. We know we strengthened existing
relationships and built new relationships that will
endure for years to come.
We believe that supporting our communities adds to
the common good and enriches the lives of all. The
communities served by State Bank & Trust Co. are
thriving examples of our vision and we are proud to
contribute in a variety of ways including volunteer
work, serving on committees and boards, and
philanthropic giving.
2021 saw State Bank & Trust reaching new levels of
performance with income of $3.3 million, due in part
to PPP loans and negative provision for loan losses,
and we peaked at $225 million in total assets. Bank
President, Steve McGill, credits the success to his
excellent team of 22 employees who offer more than
200 years of SBT experience and banking expertise to
serve clients’ changing needs.
$2 BILLION
Celebrated becoming a $2 Billion Holding
Company with a Special Gift as a thank
you to all employees
3 Areas of Support:
Financial Literacy
Community & Economic
Development
Health & Human Services
Employees serve on nearly
200
organizations
Locations
19
12Communities
7100
volunteer
hours
STEVE MCGILL RETIREMENT
Steve McGill plans to retire from his position
as President of State Bank & Trust at the end
of 2022, after 19 years as the leader of this
successful team of bankers. His unique ability
to build employee and client relationships
earned him respect across our markets
and helped increase SBT assets from $76
million to more than $225 million; and loans
increased from $42 million to $110 million
during his tenure. McGill was quick to credit
his long-time team members and said he
surrounds himself with a great team he trusts.
Steve hails from Independence Iowa, and he
studied ag business at Iowa State University.
He joined SBT in 1999 as a commercial lender
and has an impressive lending and banking
career with a niche for problem solving loans.
He and his wife, Nancy, a retired teacher, have
two children and five grandchildren. McGill
will remain in Nevada after retirement. He
plans to travel and hopes to enjoy more of
his hobbies, including fishing, hunting, and
Lego-building including large creations, such
as the USS Arizona. When asked about his
career milestones, Steve said he enjoyed and
was honored to serve on local boards through
volunteer work with ASSET and United Way;
however, the career achievement he is most
proud of is being the President at State Bank &
Trust and said, “I like a small-town community
bank, and this is a really good place to work!”
Dan Johnson, Executive Vice President &
Assistant Trust Officer with SBT for 14 years,
will be named President in 2023. Prior to his
departure, Steve continues to work with Dan
to provide for a smooth transition.
We wish Steve good health and happiness
as he nears his retirement and want to
encourage Dan in his transition as Steve’s
successor.
Steve McGill
Dan Johnson
Executive Vice President &
Assistant Trust Officer
BOARD OF DIRECTORS
SHAREHOLDER INFORMATION
AMES NATIONAL
TEAM
John P. Nelson
President & CEO
John L. Pierschbacher
Chief Financial Officer
Timothy J. Lupardus
Chief Information Officer
Buffy S. Clatt
Vice President & Marketing Director
Jennifer J. Hanson
Vice President & Human Resources Director
Tracy W. Laws
Vice President & Internal Auditor
Matthew R. Hackbart
Vice President of Technology
Joel P. Jacobsen
Vice President & Risk Management Officer
David A. Troe
Vice President & Valuation Officer
Justin C. Clausen
Controller
Marie I. Roberts
Accounting Specialist
Lori J. Hill
Valuation Services Coordinator &
Administrative Officer
Doug S.H. Kinsey
Information Technology Systems Admin II
Paul M. Crowe
Information Technology Systems Admin I
Tyler D. Nablo
Information Technology Support Analyst II
Annual Meeting
The Board of Directors of Ames National Corporation
has established Wednesday, April 27, 2022, at 4:30 p.m.
as the date of the Annual Meeting of Shareholders.
Market makers and brokers in the stock include:
First Point Wealth Management, First National Bank,
Ames (515) 663-3074
D.A. Davidson | (800) 755-7589
Raymond James | (800) 800-4693
Stock Transfer Agent
Continental Stock Transfer & Trust
17 Battery Place
New York, NY 10004
(212) 509-4000
www.continentalstock.com
Form 10-K and Other Information
A copy of the Company’s Annual Report to the
Securities and Exchange Commission on Form 10-K
will be available on the Securities and Exchange
Commission’s website at http://www.sec.gov
and through a link on the Company’s website,
www.amesnational.com, at Financial Information,
SEC Filings on or about March 11, 2022.
Additional information is also available by contacting
John L. Pierschbacher, CFO at 515-232-6251 or
info@amesnational.com.
The meeting will be held at First National Bank, 405
5th Street Ames, Iowa. The Annual Meeting will
also be available through a virtual format due to the
continued public health impact of the coronavirus
pandemic (COVID-19). Shareholders are encouraged
to participate virtually. To participate virtually, visit
the Ames National Corporation website, www.
amesnational.com, shortly before the meeting on April
27, 2022. Shareholders are encouraged to vote their
shares in advance by proxy, as online voting will not be
available through the virtual format.
Shareholders may attend the meeting in person,
but are requested to notify the Company of their
attendance in advance. Notification should be made
by email, info@amesnational.com or by calling
515-232-6251
Professional Experts
External Auditor:
CliftonLarsonAllen LLP
West Des Moines, Iowa
Counsel:
Nyemaster Goode, P.C.
Des Moines, Iowa
Market Makers
Ames National Corporation’s common stock is listed on
the NASDAQ Capital Market under the symbol “ATLO.”
Front, Left to Right:
Patrick G. Hagan
Retired Senior Vice President of
Fareway Stores, Inc.
David W. Benson
Attorney at Law
Nyemaster Goode
Kevin L. Swartz
Retired Chief Executive Officer,
Wolfe Clinic PC
James R. Larson II
President, Larson Development
Corporation
Back, Left to Right:
Thomas H. Pohlman
Chairman
John P. Nelson
President & CEO
Steven D. Forth
Farmer
John L. Pierschbacher
Chief Financial Officer
Middle, Left to Right:
Michelle R. Cassabaum
Chief Operating & Financial Officer,
21st Century Rehab
Betty A. Baudler Horras
President, Baudler Enterprises, Inc.
Lisa M. Eslinger
Chief Financial and Administrative
Officer, Iowa State University
Foundation
14 2021 Annual Report | Ames National Corporation
Ames National Corporation
P.O. Box 846 405 5th Street
Ames, IA 50010
(515) 232-6251 | Fax (515) 663-3033
info@amesnational.com | www.amesnational.com