<SUBMISSION>
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<CONFORMED-NAME>AMES NATIONAL CORP
<CIK>0001132651
<ASSIGNED-SIC>6021
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<STATE-OF-INCORPORATION>IA
<FISCAL-YEAR-END>1231
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<FILENAME>ames8k.txt
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                                October 18, 2002
                ------------------------------------------------
                Date of Report (Date of Earliest Event Reported)


                            AMES NATIONAL CORPORATION
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


           IOWA                           0-32637                42-1039071
--------------------------------------------------------------------------------
(State or Other Jurisdiction of   (Commission File Number)    (I.R.S. Employer
Incorporation or Organization)                               Identification No.)


                                405 FIFTH STREET
                                AMES, IOWA 50010
                    ----------------------------------------
                    (Address of Principal Executive Offices)


       Registrant's Telephone Number, Including Area Code: (515) 232-6251


                                 NOT APPLICABLE
              ----------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                         if Changed Since Last Report)



<PAGE>



Item 7.  Financial Statements and Exhibits

         The following exhibit is filed as part of this Report:

         Exhibit No.                                 Description
         -----------                      -----------------------------------
            99.1                          News Release dated October 18, 2002






Item 9.  Regulation FD Disclosure

         On October 18, 2002,  Ames National  Corporation  issued a News Release
announcing  its earnings for the three and nine month periods  ending  September
30, 2002. A copy of the New Release is attached hereto as Exhibit 99.1.


<PAGE>


                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                            AMES NATIONAL CORPORATION

Date:  October 18, 2002                      By:   /s/ Daniel L. Krieger
                                                   -----------------------------
                                                   Daniel L. Krieger, President
                                                   (Principal Executive Officer)




<PAGE>


                                  EXHIBIT INDEX



Exhibit No.                                             Description
--------------------------------------------------------------------------------

   99.1                                      News Release dated October 18, 2002

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>amesexh991.txt
<TEXT>
                                  NEWS RELEASE

FOR IMMEDIATE RELEASE                               Contact:  Daniel L. Krieger,
                                                              President
                                                              (515) 232-6251
                                                              (515) 663-3042
October 18, 2002




                            AMES NATIONAL CORPORATION

                                    ANNOUNCES

                             THIRD QUARTER EARNINGS

         Third  quarter 2002 earnings  were  $2,952,000 or $.94 per share,  a 9%
increase over the $2,682,000 or $.86 per share earned for the same period a year
ago. For the first nine months of 2002  earnings  were  $8,634,000  or $2.76 per
share compared to $7,980,000 or $2.55 per share in 2001.  Lower interest expense
was the primary  contributor to the higher earnings this year. Return on average
assets this quarter was 1.87% compared to 1.76% for the same period in 2001.

         Deposits of $537 million  increased 7% over September 30, 2001.  United
Bank & Trust N.A.,  the de novo banking  operation in  Marshalltown,  opened for
business in late June with early results on target with projections.

         Loans  decreased  5% to $310  million  from  September  30,  2001  with
increased  competition  in pricing and the  political  and economic  instability
continuing to influence  business  decisions.  Total assets increased 6% to $660
million compared to $625 million a year ago.

         Total  capital was $101  million,  a 9%  increase  over the $93 million
reported in the third quarter 2001. An increase of $3 million in net  unrealized
gains on investment securities since September 30, 2001 helped move capital to a
record level.

         Ames National Corporation Iowa affiliate banks are First National Bank,
Ames,  Boone  Bank  &  Trust  Co.,  Boone,  State  Bank  &  Trust  Co.,  Nevada,
Randall-Story  State  Bank,  Story  City,  and  United  Bank  &  Trust  National
Association, Marshalltown.




</TEXT>
</DOCUMENT>
</SUBMISSION>
