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


                                JANUARY 24, 2003
                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)




Item 7.  Financial Statements and Exhibits

         The following exhibit is filed as part of this Report:

                  Exhibit No.                         Description
                  -----------                         -----------
                       99.1               News Release dated January 24, 2003






Item 9.  Regulation FD Disclosure

     On January  24,  2003,  Ames  National  Corporation  issued a News  Release
announcing  its  earnings for the three month and twelve  month  periods  ending
December 31, 2002. A copy of the New Release is attached hereto as Exhibit 99.1.






                                   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:  January 24, 2003                              By:   /s/ Daniel L. Krieger
                                                           ---------------------
                                                     Name:  Daniel L. Krieger
                                                     Title: President






                                  EXHIBIT INDEX


     Exhibit No.                                         Description
     -----------                                         -----------
        99.1                                 News Release dated January 24, 2003