<SUBMISSION>
<ACCESSION-NUMBER>0000743530-04-000017
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040416
<ITEMS>9
<FILING-DATE>20040416
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AMES NATIONAL CORP
<CIK>0001132651
<ASSIGNED-SIC>6021
<IRS-NUMBER>421039071
<STATE-OF-INCORPORATION>IA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-32637
<FILM-NUMBER>04737403
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>PO BOX 846
<CITY>AMES
<STATE>IA
<ZIP>50010
<PHONE>5152326251
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>PO BOX 846
<CITY>AMES
<STATE>IA
<ZIP>50010
</MAIL-ADDRESS>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ames.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


                                 APRIL 16, 2004
                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 April 16, 2004






Item 9.  Regulation FD Disclosure

On April 16, 2004, Ames National  Corporation  issued a News Release  announcing
financial  results for the three  months  ended  March 31,  2004 and  forecasted
earnings  for the year ended  December  31,  2004.  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:  April 16, 2004                    By:   /s/ Daniel L. Krieger
                                                 -------------------------------
                                               Daniel L. Krieger, President
                                               (Principal Executive Officer)


<PAGE>



                                  EXHIBIT INDEX

Exhibit No.                                      Description

  99.1                                 News Release dated April 16, 2004








































</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit99.txt
<TEXT>
                                                              Exhibit 99.1


                                  NEWS RELEASE

FOR IMMEDIATE RELEASE                                Contact: Daniel L. Krieger,
                                                           Chairman &  President
                                                                 (515) 232-6251

April 16, 2004

                            AMES NATIONAL CORPORATION
                 ANNOUNCES FIRST QUARTER 2004 FINANCIAL RESULTS
                        AND FORECASTED EARNINGS FOR 2004

The Company  earned net income of  $2,965,000,  or $0.95 per share for the three
months ended March 31, 2004, compared to net income of $2,870,000,  or $0.92 per
share,  for the  three  months  ended  March 31,  2003,an  increase  of 3%.  The
Company's  return on average  assets was 1.56% and 1.67%  respectively,  for the
three-month  periods  ending March 31, 2004 and 2003.  The  Company's  return on
average equity was 10.91% and 11.26%,  respectively for the three-month  periods
ending March 31, 2004 and 2003.Total  assets increased from $737 million for the
quarter  ended  March 31, 2003 to $799  million for the quarter  ended March 31,
2004, an increase of 8%.

Net  interest  income  increased  $500,000  or 8% for the first  quarter of 2004
compared to the same period in 2003.  Non-interest  expense was 4% higher in the
first quarter of 2004 as the result of higher overhead expenses  associated with
data processing and equipment  costs as well as employee  salaries and benefits.
Higher  quarterly  earnings were posted even though secondary market loan income
and securities gains in the Company's  investment portfolio were lower for first
quarter 2004 compared to the same period a year ago.

Deposits  increased  7% to a record $660 million with the majority of the growth
in interest-bearing checking and money market accounts.  Boone Bank & Trust Co.,
State  Bank & Trust  Co.  and  United  Bank & Trust  accounted  for  most of the
increase in this area.  United Bank has made an impact in the Marshalltown  area
with over $74 million in deposits since it began operations in mid June 2002.

Loans increased 6% to $360 million,  a $20 million increase since March 31, 2003
with the growth coming in all loan categories.

Capital  increased 8% to $111  million from one year ago.  Capital at the end of
March  2004,  which  includes  over  $10  million  in net  unrealized  gains  on
securities  available for sale,  represented  nearly 14% of total  assets.  Ames
National  Corporation  stock,  under the  symbol  ATLO,  traded in the $58.25 to
$61.00  range in the  first  quarter  of 2004 and  closed at $61.00 on March 31,
2004.

Ames National  Corporation is forecasting  earnings for the year ending December
31, 2004 of $3.85 to $3.93 per share this range is approximately 5% higher than
the $3.71  per share  earned  for the year  ending  December  31,  2003.  Higher
earnings  are  forecast  as the result of a projected  increase in net  interest
income  that  exceeds  an  expected  reduction  in  realized  capital  gains  on
securities and a decrease in secondary market loan income.

Ames National  Corporation  affiliate Iowa 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, Marshalltown.

The Company's  earnings forecast for 2004 is a  forward-looking  statement under
the Private Securities  Litigation Reform Act of 1995 that is subject to certain
risks  and  uncertainties  that  could  cause  the  actual  earnings  to  differ
materially  from  forecasted  earnings.  A number of factors,  many of which are
beyond  the   Company's   control,   could  cause  actual   earnings  to  differ
significantly from those described in this forward-looking statement. Such risks
and  uncertainties  with  respect to the Company  include  those  related to the
economic  environment,  particularly  in the areas in which the  Company and the
Banks operate, competitive products and pricing, fiscal and monetary policies of
the U.S.  government,  changes in governmental  regulations  affecting financial
institutions,  including  regulatory fees and capital  requirements,  changes in
prevailing   interest  rates,   credit  risk   management  and   asset/liability
management,  the financial and securities  markets and the  availability  of and
costs associated with sources of liquidity.

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