ATLO Ames National Corporation

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

 

 

November 12, 2014

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)

 

 

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))

  

 

Item 8.01 Other Events

 

On November 12, 2014, the Company announced a stock repurchase program commencing on November 13, 2014. A copy of the press release dated November 12, 2014, is attached as Exhibit 99.1.

 

On November 12, 2014, the Company announced the declaration of a cash dividend. A copy of the press release dated November 12, 2014 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 November 12, 2014

                      

  

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: November 13, 2014			By:	/s/ Thomas H. Pohlman
		Thomas H. Pohlman, Chief Executive Officer and President

 

PRESS RELEASE

Exhibit 99.1

                   

 

FOR IMMEDIATE RELEASE	CONTACT:	THOMAS H. POHLMAN,
		CHIEF EXECUTIVE OFFICER AND PRESIDENT
		(515) 232-6251

 

 

November 12, 2014

 

AMES NATIONAL CORPORATION

APPROVES A STOCK REPURCHASE PROGRAM AND DECLARED CASH DIVIDEND

 

AMES, IOWA - Ames National Corporation (the “Company”) announced today that a stock repurchase program was approved at its regular meeting of the Board of Directors held November 12, 2014. The Company has a strong capital position and this will provide an opportunity to repurchase Company stock on the open market when it is deemed to be favorably priced for repurchase. The program authorizes the repurchase of up to 100,000 shares during the next twelve months, ending November 12, 2015, or approximately 1.1% of 9,310,913 shares of common stock outstanding as of November 12, 2014. The last repurchase plans expires on November 13, 2014. The Company has not purchased any shares in 2013 or 2014. The repurchases will be made in open market transactions at the discretion of management using Company cash. The timing and actual number of shares purchased will depend on a variety of factors such as price, the Company’s liquidity position and other market conditions. The program will be conducted under the provisions of SEC Rule 10b-18 which provides a “safe harbor” from liability for manipulation of the stock price by reason of the manner, timing, price and volume of purchases in the open market. The program may be limited or discontinued at any time without notice.

 

On November 12, 2014, Ames National Corporation (the “Company”) declared a cash dividend of $0.18 per common share. The dividend is payable February 13, 2015, to shareholders of record at the close of business on January 30, 2015. 

 

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; 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.