John L. Pierschbacher
About John L. Pierschbacher
Former Chief Financial Officer and Secretary of Ames National Corporation; currently a director with a term expiring in 2027. Age 65; joined the Board in 2018 and retired from his CFO role on July 5, 2024 after serving as Controller since 2008. Prior experience includes director-level roles at RSM US LLP and CFO of a publicly traded bank holding company in Iowa, bringing deep banking, accounting, and regulatory expertise to the Board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ames National Corporation | Chief Financial Officer & Secretary | 2018–Jul 5, 2024 | Led corporate finance and reporting; now non-voting Audit Committee observer post-retirement |
| Ames National Corporation | Controller | 2008–2018 | Oversaw accounting controls and financial reporting |
| RSM US LLP | Director | Prior to 2008 | Banking/audit expertise relevant to NAC audit oversight |
| Publicly traded bank holding company (Iowa) | Chief Financial Officer | Prior to 2008 | Executive finance leadership in public banking sector |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| RSM US LLP | Director | Prior | Public accounting leadership |
| Publicly traded bank holding company (Iowa) | CFO | Prior | Executive finance role |
No current public company directorships disclosed in the past five years .
Board Governance
- Committee assignments: Not a standing member of Audit, Personnel, or Nominating Committees; attends Audit Committee as a non-voting “observer” to share accounting/reporting expertise .
- Independence: Not independent under NASDAQ rules due to current/past employment relationship with the Company .
- Attendance: Board held four regular meetings in 2024; all directors attended at least 75% of Board/committee meetings except Mr. Larson (no exception noted for Mr. Pierschbacher) .
- Tenure: Director since 2018; current term expires in 2027 .
- Leadership roles: None indicated (not Chairman; not Lead Independent Director) .
Fixed Compensation
| Component | Amount | Period/Detail |
|---|---|---|
| Fees Earned or Paid in Cash | $10,540 | 2024 director fees |
| Quarterly Director Retainer | $4,500 | Received two quarterly payments following July 2024 retirement (standard retainer $9,000/year paid $2,250 quarterly) |
| Audit Committee Observer Fees | $1,040 | Paid for attending Audit Committee meetings after retirement in 2024 |
| Other Board/Committee Meeting Fees | Included in total | Company board meetings: $2,500 per regular meeting; company committee meetings: $520 member / $660 chair per meeting; exact count not itemized for Mr. Pierschbacher |
No equity grants (RSUs/PSUs/options) or meeting fees beyond the schedule above disclosed for Company directors in 2024 .
Performance Compensation
| Metric/Plan | Structure | Mr. Pierschbacher 2024 Outcome |
|---|---|---|
| Bank Director Stock Incentive Plan (cash award) | Cash award equal to market value of 100 ATLO shares (avg closing price of 10 days through April 30), provided to Bank directors; encouraged to purchase ≥200 shares and hold ≥5 years; non-mandatory; non-compliance may affect future eligibility | Not eligible in May 2024 (did not serve on a Bank board at that time); received $0 under this plan |
No director-specific performance-based equity or cash awards tied to TSR/ROA/ESG were disclosed for Company directors .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None in past five years |
| Private bank boards | Did not serve on a Bank board in May 2024 (context for incentive plan eligibility) |
| Interlocks/conflicts | None disclosed; no family relationships among directors/executives |
Expertise & Qualifications
- Banking, accounting, and regulatory expertise from senior finance roles at publicly traded banks and public accounting (RSM); complements Audit Committee oversight (attends as observer) .
- Recognized by Nominating Committee for financial qualifications and community involvement; prior bank board experience was not a prerequisite in his case .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| John L. Pierschbacher | 7,100 | <1% | Held through an IRA; sole investment and voting power |
- Hedging/Pledging: Company policy prohibits hedging and short sales by directors/employees; no pledging disclosed for Mr. Pierschbacher .
- Ownership guidelines: Not disclosed for Company directors; Bank Director Stock Incentive Plan encourages share purchases but is not mandatory .
Insider Trades
| Date | Filing | Transaction | Shares | Source |
|---|---|---|---|---|
| May 16, 2023 | Form 4 | Open market acquisition | 200 | , Company Section 16 index: |
Beneficial ownership of 7,100 shares is also reflected in 2025 proxy beneficial ownership table .
Governance Assessment
- Strengths: Deep finance and audit background; active Audit Committee engagement as a non-voting observer improves oversight quality; attendance at least 75% threshold in 2024; clear related-party transaction approval process via Audit Committee; prohibition on hedging strengthens alignment .
- Alignment: Owns 7,100 shares; participates in standard cash-based director fee schedule; did not receive Bank Director Stock Incentive Plan cash award in 2024 due to ineligibility (not a Bank director at that time) .
- Independence: Not independent due to his employment history; this is a governance consideration for investor confidence, mitigated by his retirement and non-voting Audit Committee observer status rather than committee membership .
- Related-party/loans: Loans to directors/officers occur on market terms and are subject to Regulation O; related party transactions require Audit Committee “fair and reasonable” approval; no unfavorable features noted by management .
- Signals/Red flags: No pledging disclosed; no legal proceedings/investigations disclosed; independence classification is the primary governance flag; no other public company directorships/interlocks that would suggest conflicts .
Context: Board separates CEO and Chair roles; standing committees populated by independent directors; say-on-pay advisory frequency every three years (next in 2026), indicative of broader governance posture (though focused on executives, not director pay) .