Ames National Corporation is a bank holding company. The Company owns 100% stocks of five banking subsidiaries consisting of two national banks and three state-chartered banks namely, First National Bank, Ames, Iowa (First National), State Bank & Trust Co. (State Bank), Boone Bank & Trust Co. (Boone Bank), Randall-Story State Bank (Randall-Story Bank) and United Bank & Trust NA (United Bank). The Company provides various services to the Banks which include management assistance, internal auditing services, human resources services and administration, compliance management, marketing assistance and coordination, loan review and assistance with respect to computer systems and procedures. The Company does not engage in any material business activities apart from its ownership of its banking subsidiaries.