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 11, 2015

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)

 

 

 

Item 8.01 Other Events

 

On November 11, 2015, the Company announced a stock repurchase program commencing November 11, 2015. A copy of the press release dated November 11, 2015, is attached as Exhibit 99.1.

 

On November 11, 2015, the Company announced the declaration of a cash dividend. A copy of the press release dated November 11, 2015 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 11, 2015

 

  

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 12, 2015		By:	/s/ Thomas H. Pohlman
		Thomas H. Pohlman, President
		(Principal Executive Officer)

 

 

 

PRESS RELEASE

Exhibit 99.1

 

 

 

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

 

 

 

November 11, 2015

 

AMES NATIONAL CORPORATION DECLARED CASH DIVIDEND AND AUTHORIZED STOCK REPURCHASE PROGRAM

 

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 11, 2015. 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, or approximately 1.1% of 9,310,913 shares of common stock outstanding as of November 11, 2015. This program will expire on November 8, 2016 and replaces the previous repurchase plan. The Company has not purchased any shares in 2014 or 2015. 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 11, 2015, Ames National Corporation (the “Company”) declared a cash dividend of $0.20 per common share. The dividend is payable February 15, 2016, to shareholders of record at the close of business on January 29, 2016. 

 

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.