Ames National Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total interest income of $10,778,012 compared to $9,905,433 a year ago. Net interest income after provision for loan losses was $9,387,371 compared to $8,035,868 a year ago. Income before income taxes was $4,162,172 compared to $4,510,841 a year ago. Net income was $3,138,707 compared to $3,376,947 a year ago. Basic and diluted earnings per share were $0.34 compared to $0.36 a year ago. Net interest income was $9,686,491 compared to $8,656,296 a year ago. Return on average assets was 0.96% for the quarter ended December 31, 2014, compared to 1.09% for the same period in 2013. Return on average equity was 8.07% for the quarter ended December 31, 2014, compared to the 9.45% in 2013. The lower earnings were a result of impairment write downs on other real estate owned, offset in part by increases in net interest income and securities gains.

For the full year, the company reported total interest income of $40,964,351 compared to $38,433,813 a year ago. Net interest income after provision for loan losses was $35,988,110 compared to $32,572,660 a year ago. Income before income taxes was $20,866,726 compared to $18,611,566 a year ago. Net income was $15,251,207 compared to $13,953,644 a year ago. Basic and diluted earnings per share were $1.64 compared to $1.50 a year ago. Net interest income was $36,417,250 compared to $33,359,050 a year ago. Return on average assets was 1.21% for the year ended December 31, 2014, compared to 1.14% for the same period in 2013. Return on average equity was 10.09% for the year ended December 31, 2014, compared to the 9.76% in 2013. Net income increased primarily due to increases in net interest income gain on the sale of bank premises and equipment and wealth management income, offset in part by increases in salaries and benefits and other real estate owned expenses.