UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

May 13, 2020

Date of Report (Date of Earliest Event Reported)

 

AMES NATIONAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)

 

IOWA 0-32637 42-1039071
(State or Other Jurisdiction of  (Commission File Number) (I.R.S. Employer
Incorporation or Organization)   Identification No.)

                  

405 FIFTH STREET

AMES, IOWA 50010

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (515) 232-6251

 

NOT APPLICABLE

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock

ATLO

NASDAQ Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company  ☐

 

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 8.01 Other Events

 

On May 13, 2020, the Company announced a deferral of the decision to declare a cash dividend payable during the third quarter of 2020. A copy of the press release dated May 18, 2020 is attached as Exhibit 99.1.

 

Item 9.01 Financial Statement and Exhibits

 

 

(d)

The following exhibit is furnished as part of this Report.

 

  Exhibit No. Description
     
  99.1 News Release dated May 18, 2020

                              

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

AMES NATIONAL CORPORATION

 

 

 

 

 

 

 

 

 

Date: May 18, 2020

By:

/s/ John P. Nelson

 

 

 

John P. Nelson, Chief Executive Officer and President

 

 

 

(Principal Executive Officer)

 

 

 

 

 

 

Exhibit 99.1

 

PRESS RELEASE

 

  

 

FOR IMMEDIATE RELEASE

CONTACT:

JOHN P. NELSON

   

PRESIDENT

   

(515) 232-6251

 

 

May 18, 2020

 

AMES NATIONAL CORPORATION POSTPONES DECLARATION OF CASH DIVIDEND

 

AMES, IOWA – On May 13, 2020, the Board of Directors (the “Board”) of Ames National Corporation (the “Company”) determined to defer a decision on declaring a cash dividend to be payable in August of 2020 and to revisit the issue at the Board’s next meeting to be held in July, 2020 when additional information will be available regarding the impact of the COVID-19 pandemic on the Company’s capital, financial condition, liquidity and results of operations. As always, the decision to declare a dividend and the amount thereof rests within the discretion of the Board and will be subject to, among other things, results of operations, future earnings, capital requirements and the financial condition of the Company, as well as regulatory restrictions applicable to the payment of dividends by the Company’s banking subsidiaries.

 

Ames National Corporation is listed on the NASDAQ Capital Market under the ticker symbol, ATLO. The Company’s affiliate banks include: First National Bank, Ames, Iowa; Boone Bank & Trust Co., Boone, Iowa; State Bank & Trust Co., Nevada, Iowa; Iowa State Savings Bank, Creston, Iowa; Reliance State Bank, Story City, Iowa; and United Bank & Trust NA, Marshalltown, Iowa. Additional information about the Company can be found at www.amesnational.com.