ATLO AMES NATIONAL CORP Insider Trading

ATLO director Cassabaum makes small open-market purchase near recent highs.

Director Michelle Cassabaum purchased a modest number of shares in Ames National at current market prices, adding incrementally to her holdings. The company is financially healthy and profitable, trading at a reasonable valuation multiple with strong recent earnings momentum. What's notable is the timing: the purchase occurs near the stock's recent highs and well above the lows of the past year, which is atypical for insider buying—most director purchases happen during pullbacks when shares are relatively cheaper. This modest, full-price acquisition suggests either a routine rebalancing decision or measured conviction, but the lack of urgency or scale limits how much conviction we can read into it. Worth monitoring as a positive signal from the board, but not a decisive vote of confidence on its own.

Director Cassabaum purchases 205 ATLO shares at $27.25; 4 of 4 prior buys at this ticker showed positive 90-day returns, latest up +23.8% YTD

Cassabaum, a director of Ames National Corp, purchased 205 shares at $27.25 on 2026-02-27, increasing holdings from 9,529 to 9,734 shares. Her prior trades at ATLO show a consistent pattern of well-timed entry points: all 4 prior measurable buys at this ticker posted positive 90-day returns, with the most recent purchase on 2025-10-31 returning +23.6% over 90 days. The current 30-day price action of +7.8% and 90-day move of +23.8% align with her historical execution at this ticker. With a cross-ticker track record of 20 prior buys averaging +1.2% at 30 days and +4.6% at 90 days (68.42% win rate), this purchase reflects consistent behavior, though the stock is currently -3.4% from its 52-week high of $27.96, suggesting entry at a near-peak price relative to the recent range.

Director Cassabaum buys 280 shares of ATLO at $26.11; 5 of 5 prior buys at ticker preceded 90d gains averaging +14.2%

Director Michelle R Cassabaum purchased 280 shares at $26.11, increasing her position from 8,913 to 9,193 shares. Her prior five open-market purchases at ATLO all preceded positive 90-day returns (+4.8%, +2.9%, +9.2%, -0.1%, +2.0%), establishing a consistent pattern of well-timed entry points at this specific ticker. The current price of $26.79 is at the 52-week high (+0.0% from range ceiling) and the stock has risen +17.8% in the past 30 days and +28.4% in the past 90 days, reflecting significant recent momentum. This purchase occurs in the context of strong recent price appreciation and a track record at this ticker of entries preceding gains, though the trade occurs after substantial near-term gains have already materialized.

Director Trost Scot A. buys 200 AMES NATIONAL CORP shares at $22.88; holdings rise to 1,000 shares (+25.0%)

Trost Scot A., a Director, purchased 200 shares of AMES NATIONAL CORP at $22.88, increasing his total holdings by 25.0% to 1,000 shares. The stock has appreciated 11.0% over the past 30 days and 13.3% over 90 days, now trading at $23.46 near its 52-week high. This mirrors the insider's prior transaction at this same ticker on 2024-12-05, which also resulted in positive returns at the 90-day mark, suggesting a consistent pattern of favorable timing in accumulating AMES shares. With the company trading at a P/E of 13.03 and maintaining profitability ($4.6M net income), the purchase reflects ongoing director-level confidence in the company's valuation and near-term trajectory.

Bauer bought 20 ATLO shares at $21.68 on 2025-12-02; 4 of 5 prior buys at this ticker well-timed at 90-day mark.

Insider Bauer Scott T purchased 20 shares of Ames National Corp at $21.68, increasing holdings to 4,009 shares (a 0.5% addition). The current price of $21.95 sits at the 52-week high, with the stock up 4.5% over 30 days and 9.2% over 90 days, suggesting recent positive momentum. Notably, his prior trades at ATLO show a strong timing pattern: 4 of 5 previous buys proved well-timed at the 90-day horizon, with returns ranging from +5.5% to +30.6% across the successful positions, though one trade (2024-08-02) posted a -11.4% 90-day return. The cross-ticker track record shows consistent execution, with a 80.00% 90-day win rate and positive average returns of +4.6% (30d) and +7.7% (90d) across 5 prior buys across all tickers. The modest purchase size and valuation backdrop (P/E of 12.19, market cap of $195.2M) provide context for evaluating whether this reflects continued conviction at a near-52-week peak.

Director Swartz buys 200 ATLO shares at $20.80; cluster pattern with 2 other insiders buying within 14 days

Kevin L Swartz (Director) purchased 200 shares of Ames National Corp at $20.80 on 2025-11-21, increasing his holdings from 5,180 to 5,380 shares. This buy is part of a broader insider activity cluster: 2 other insiders bought within the past 14 days, suggesting coordinated confidence in the company's direction. Swartz's prior open-market buys at ATLO generated consistently positive 90-day returns (6.9%, 17.7%, 1.4%), indicating a pattern of well-timed purchases at this ticker. The company trades at a P/E of 11.90 with a market cap of $190,470,217.14, and the stock has risen 8.2% over 90 days and is currently 0.2% below its 52-week high of $21.46, suggesting recent upward momentum.

PUTZIER JEFFREY K bought 200 shares of AMES NATIONAL CORP at $21.25 on 2025-11-17, raising holdings to 3,827 shares (5.5% increase).

Jeffrey Putzier purchased 200 shares at $21.25, a price near the 52-week high of $21.43, expanding his stake by 5.5% to 3,827 shares. His prior three trades at this ticker show a mixed 90-day timing outcome (2 of 3 were well-timed), with the most recent buy on 2024-11-05 generating a 6.6% 90-day return. The current price of $20.95 sits 2.2% below the 52-week high, suggesting the stock remains elevated. At a P/E of 11.64 and market cap of $186.3M, the company appears modestly valued, though the cross-ticker track record (3 prior buys, 66.67% 90-day win rate, avg +2.2% 90d return) provides limited precision on timing quality. The annual timing pattern at this ticker warrants tracking to assess whether this trade echoes the cadence of prior purchases.

Director Beals Douglas W buys 500 shares of AMES NATIONAL CORP (ATLO) at $21.37 on 2025-11-13, holding 2,950 shares post-transaction.

Beals acquired 500 shares at $21.37, representing a 20.4% increase to his holdings, just 2.5% below the 52-week high of $21.43. His prior two purchases at ATLO (on 2025-05-23 and 2025-05-02) both generated positive 90-day returns of 9.5% and 2.6% respectively, demonstrating consistent timing accuracy at this ticker. The stock has appreciated 9.4% over the 90-day period and 6.6% over the last 30 days, suggesting momentum. With a P/E of 11.61 and net income of $4,559,000.00, AMES NATIONAL trades at a modest valuation multiple, though this acquisition near 52-week highs suggests Beals is willing to commit capital at elevated entry points, consistent with his pattern of well-timed prior trades at this company.

Director Cassabaum buys 44 ATLO shares at $20.82; 63.16% cross-ticker timing accuracy on prior purchases.

Cassabaum, a director of Ames National Corp, purchased 44 shares at $20.82 on 2025-10-31, increasing her holdings from 8,869 to 8,913 shares (+0.5%). The $20.82 transaction price sits 1.8% below the 52-week high of $21.39 and near current market price of $21.00, with the stock up 4.8% over the prior 30 days and 13.0% over 90 days. Her cross-ticker buy track record shows a 63.16% win rate across 20 prior purchases with a 90-day average return of 1.9%. At this specific ticker, her prior four measurable trades were well-timed 3 of 4 times, with 90-day outcomes ranging from -5.0% to +13.6%. The modest 44-share increment represents a small portfolio addition relative to her 8.9K total holdings, and the company trades at a 13.64 P/E with $4.5M net income and $186.9M market cap.

Director Hagan Patrick G purchases 300 shares of ATLO at $20.85; 5th consecutive well-timed buy at this ticker within 12 months.

Hagan Patrick G, a Director, purchased 300 shares at $20.85 on 2025-10-24, increasing his holdings from 9,000 to 9,300 shares. This is his fifth consecutive buy at ATLO in the past 12 months, and notably, all five prior purchases at this ticker generated positive 90-day returns: 9.1%, 10.6%, 7.5%, 8.6%, and 5.3%. His consistent pattern of purchasing before positive 90-day periods, combined with a cross-ticker track record showing 83.33% win rate over 90 days across 12 prior buys, demonstrates a reliable ability to identify entry points. At the current price of $20.83, the stock is trading -0.7% from its 52-week high ($20.97) and up 13.2% over 90 days, suggesting the director is purchasing near recent strength rather than at depressed levels.