


                                  EXHIBIT 99(a)

                            AMES NATIONAL CORPORATION
                                   Ames, Iowa

                  AMES NATIONAL CORPORATION STOCK PURCHASE PLAN
                           Effective 1999 through 2008

May 8, 2002

GENERAL:

The  shareholders  of  the  Ames  National  Corporation   (Company)  approved  a
resolution on January 27, 1999,  renewing the existing stock purchase plan for a
ten-year  period,  which included a broader group of employees and added limited
participation  by non-officer  members of the Boards of Directors of the Company
and its subsidiary banks (the "Banks").

OBJECTIVE:

To encourage the acquisition of Company common stock by officers,  employees and
directors and thereby provide  additional  incentive to improve Company and Bank
performance and retain qualified individuals.

ELIGIBILITY:

Participants  shall include all full-time Company and Banks employees with three
years of service and all  current  Company and Bank  supervisors,  officers  and
members of the Boards of  Directors.  The  eligibility  requirements  concerning
length of  employment  will be  determined  as of December 31st of the preceding
year. For the purpose of this plan,  full-time  participation will require 1,800
hours of service  annually.  The three years of service need not be consecutive.
An employee, officer or director who is otherwise eligible to participate in the
plan will lose such  eligibility  if not  employed  by the Company or a Bank (or
serving as a director of the Company or a Bank) as of June 15th of a  particular
year.

DISTRIBUTION:

The total  number of shares  available  each  year  shall be  14,000,  with each
non-officer  director  eligible  to  purchase  up to  80  shares  annually.  The
remaining   shares  will  be  allocated   based  upon  the  percentage  of  each
participant's  compensation to total compensation of employees,  supervisors and
officers.

PRICE:

The purchase price shall be determined  annually by an independent  appraiser as
of March 31st  unless  there is ample  evidence of current  market  transactions
including Over The Counter Bulletin Board or similar market pricing.

In the  event  there is ample  evidence  of  current  market  transactions,  the
purchase  price  shall be the  market  value of the stock as  determined  by the
average of the closing  prices on the last three days on which there was trading
activity up to and including June 8th.

Participants  and their allocated shares will be certified at the May meeting of
the  Board of  Directors  together  with the  purchase  price  (or  method to be
followed in establishing  the purchase price as described above) to be in effect
for the purchase of shares at the first business day prior to June 16th.

ADMINISTRATION OF PLAN:

The plan shall be administered by the Compensation  Committee (the  "Committee")
of the Board of Directors of the Company. The Committee shall designate a person
(the "Plan  Coordinator")  who shall  coordinate  the  actions  and  information
between Plan Participants and the Company.

PLAN MODIFICATION AND TERMINATION:

The Plan will  continue  from year to year  through  2008,  but may be modified,
suspended or discontinued at any time by the Company's Board of Directors.

CONCLUSION:

This Plan is  intended to clarify the  Resolution  adopted by the Ames  National
Corporation  shareholders on January 27, 1999, to provide information to current
and  prospective  employees,  officers and directors  regarding the terms of the
plan and to aid in administering the stock purchase plan.

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