What are Ames National's Business Segments?
Commercial Loans. Commercial loans are typically made to sole proprietors, partnerships,
corporations and other business entities such as municipalities where the loan
is to be used primarily for business purposes. These loans are typically secured
by assets owned by the borrower and often times involve personal guarantees given
by the owners of the business. Approximately 50% of the loan portfolio consists
of loans made for commercial purposes.
The types of loans the Banks offer include:
financing guaranteed under Small Business Administration programs
operating and working capital loans
loans to finance equipment and other capital purchases
commercial real estate loans
business lines of credit
term loans
loans to professionals
letters of credit
Agricultural Loans. The Banks, by nature of their location in central and north-central
Iowa, are directly and indirectly involved in agriculture and agri-business lending.
This includes short-term seasonal lending associated with cyclical crop and livestock
production, intermediate term lending for machinery, equipment and breeding stock
acquisition and long-term real estate lending. These loans are typically secured
by the crops, livestock, equipment or real estate being financed. The basic tenet
of the Banks' agricultural lending philosophy is a blending of strong, positive
cash flow supported by an adequate collateral position, along with a demonstrated
capacity to withstand short-term negative impact if necessary. Applicable governmental
subsidies and affiliated programs are utilized if warranted to accomplish these
parameters. Approximately 20% of the loan portfolio consists of loans made for
agricultural purposes.
Consumer Loans. Consumer loans are typically available to finance home improvements
and consumer purchases, such as automobiles, household furnishings and boats.
These loans are made on both a secured and an unsecured basis. The following types
of consumer loans are available:
automobiles and trucks
boats and recreational vehicles
personal loans and lines of credit
home equity lines of credit
home improvement and rehabilitation loans
consumer real estate loans
Other types of credit programs, such as loans to nonprofit organizations, to public
entities, for community development and to other governmental programs also are
available.
First National, Boone Bank, State Bank and United Bank offer wealth management
services typically found in a commercial bank with trust powers, including the
administration of estates, conservatorships, personal and corporate trusts and
agency accounts. The Banks also provide farm management, investment and custodial
services for individuals, businesses and non-profit organizations.
The Banks earn income from the origination of residential mortgages that are sold
in the secondary real estate market without retaining the mortgage servicing rights.
The Banks offer traditional banking services, such as safe deposit boxes, wire
transfers, direct deposit of payroll and social security checks, automated/video
teller machine access and automatic drafts (ACH) for various accounts.
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