Douglas C. Gustafson, DVM will retire as Director of Ames National Corporation effective as of the end of his current term of service, which will conclude at the Company's annual meeting of shareholders held on April 26, 2017. Dr. Gustafson is no longer eligible to stand for reelection due to corporate governance policy related to age limitation. Dr. Gustafson has served as a director of the Company since 1999.

On February 8, 2017, Ames National Corporation declared a cash dividend of $0.22 per common share, which is a 5.0% increase from the previous dividend of $0.21 per share. The dividend is payable May 15, 2017, to shareholders of record at the close of business on May 1, 2017.