Ames National Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company's net income totaled $3,377,000, or $0.36 per basic and diluted share, compared to $3,469,000 or $0.37 per basic and diluted share in 2012. Net income decreased primarily due to increases in the provision for loan losses, a decrease in gain on sale of loans held for sale and increases in salaries and employee benefits, offset in part by an increase in net interest income and securities gains. Net interest income totaled $8,656,000, an increase of $493,000, or 6.0%, compared to the same quarter a year ago, due primarily to an increase in the volume of loans. Return on average assets was 1.09% for the quarter ended December 31, 2013, compared to 1.17% for the same period in 2012. Return on average equity was 9.45% for the quarter ended December 31, 2013, compared to the 9.57% in 2012. Income before income taxes was $4,510,841 against $4,610,976 a year ago.

For the year ended December 31, 2013, net income for the company totaled $13,954,000, or $1.50 per basic and diluted share, compared to $14,182,000 or $1.52 per basic and diluted share in 2012. Net income was lower primarily due to the provision for loan losses, a decrease in gain on sale of loans held for sale and increases in salaries and employee benefits, offset in part by an increase in net interest income and securities gains. Net interest income for the year ended December 31, 2013 totaled $33,359,000, an increase of $1,039,000, or 3.2%, compared to the same period a year ago, primarily due to an increase in the average loan balances and the decrease in the interest rates on deposits. Return on average assets was 1.14% for the year ended December 31, 2013, compared to 1.24% for the same period in 2012. Return on average equity was 9.76% for the year ended December 31, 2013, compared to the 10.08% in 2012. Income before income taxes was $18,611,566 against $18,929,951 a year ago.