Michael A. Wilson
About Michael A. Wilson
Michael A. Wilson is Executive Vice President and Chief Lending Officer of Ames National Corporation (ATLO), appointed effective November 9, 2023; he joined the company on September 30, 2022 and is age 59 . ATLO operates a Management Incentive Compensation (MIC) Plan that ties executive incentives to bank profitability against pre-set performance targets, with semi-annual reviews and payouts; the company’s insider trading policy prohibits hedging, short sales, and derivative transactions on company stock . As context for performance during his tenure, ATLO’s total shareholder return (TSR) for a fixed $100 investment was $100.97 in 2022, $96.41 in 2023, and $78.18 in 2024; company net income was $19.293 million in 2022, $10.817 million in 2023, and $10.218 million in 2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Ames National Corporation | EVP, Innovation & Corporate Services | Sep 2022 – Nov 2023 | Executive leadership role prior to CLO appointment |
| Ames National Corporation | EVP & Chief Lending Officer | Nov 2023 – Present | Leads lending across Banks; performance incentives tied to bank profitability |
| Bankers Trust Company (Des Moines, IA) | Chief Lending Officer | Apr 2017 – Feb 2022 | Senior lending leadership in regional bank platform |
| Metropolitan Life Insurance Company | Manager, Commercial Agribusiness Team | Apr 2007 – Apr 2017 | Led agribusiness credit team |
| Various banks in Nebraska and Iowa | Commercial Lender | Early career | Originated and managed commercial credits |
External Roles
| Organization | Role | Years |
|---|---|---|
| Bankers Trust Company (Des Moines, IA) | Chief Lending Officer | Apr 2017 – Feb 2022 |
| Metropolitan Life Insurance Company | Managed Commercial Agribusiness Team | Apr 2007 – Apr 2017 |
Fixed Compensation
| Year | Base Salary ($) |
|---|---|
| 2022 | $58,682 |
| 2023 | $252,720 |
| 2024 | $267,910 |
All Other Compensation Components
| Year | 401(k) Employer Contribution ($) | Bank Director Stock Incentive Plan Cash ($) | All Other Compensation Total ($) |
|---|---|---|---|
| 2023 | $15,312 | — | $15,312 |
| 2024 | $15,596 | $1,933 | $17,529 |
Performance Compensation
ATLO’s MIC Plan divides total salary into base and deferred salary and provides additional cash performance awards; both deferred salary and performance awards are contingent on achieving or exceeding profitability targets, reviewed and paid semi-annually in June and December .
| Year | Incentive Type | Metric | Weighting | Target | Actual | Payout ($) | Vesting/Payout Timing |
|---|---|---|---|---|---|---|---|
| 2023 | Deferred Salary | Bank profitability vs target (Company Executive measured across Banks) | Not disclosed | Not disclosed | Not disclosed | $2,319 | Semi-annual, paid in June & December |
| 2023 | Performance Award | Profitability exceeding target | Not disclosed | Not disclosed | Not disclosed | $165 | Semi-annual, paid in June & December |
| 2024 | Deferred Salary | Bank profitability vs target (Company Executive measured across Banks) | Not disclosed | Not disclosed | Not disclosed | $2,181 | Semi-annual, paid in June & December |
| 2024 | Performance Award | Profitability exceeding target | Not disclosed | Not disclosed | Not disclosed | $358 | Semi-annual, paid in June & December |
Total non‑equity incentive compensation paid: $2,484 (2023) and $2,539 (2024) .
Equity Ownership & Alignment
| As-of Date | Shares Beneficially Owned | Percent of Outstanding | Notes |
|---|---|---|---|
| Feb 28, 2024 | 500 | <1% | Ownership below 1% threshold |
| Feb 28, 2025 | 1,500 | <1% | Ownership below 1% threshold |
- Hedging/derivatives/short sales prohibited for executives and their family members; policy bans instruments like prepaid variable forwards, equity swaps, collars, and exchange funds .
- No stock awards or option awards reported for Wilson in 2023–2024; compensation is cash-based under MIC Plan .
Employment Terms
| Term | Detail |
|---|---|
| Employment start date | September 30, 2022 |
| Appointment to CLO | Effective November 9, 2023; age 59 |
| Related party transactions | None requiring disclosure; no arrangements/understandings for selection; not related to Board members/executives |
| Non-compete / Non-solicit / Change-of-control / Severance | Not disclosed in reviewed proxy statements and 8-Ks |
Performance & Track Record
| Year | Company Net Income ($) | TSR – Value of $100 Investment |
|---|---|---|
| 2022 | $19,293,000 | $100.97 |
| 2023 | $10,817,000 | $96.41 |
| 2024 | $10,218,000 | $78.18 |
As a Company Executive, Wilson’s incentive determinations are based on bank profitability versus targets across the Banks, with potential to earn or forfeit deferred salary and awards depending on each Bank’s results .
Investment Implications
- Pay-for-performance alignment is modest: Wilson’s incentives are primarily cash and relatively small versus salary ($2,484 in 2023; $2,539 in 2024), with no equity or option grants disclosed, reducing long-term alignment and limiting equity-driven selling pressure .
- Ownership “skin in the game” is limited: beneficial ownership increased from 500 to 1,500 shares but remains below 1% of outstanding shares; hedging and short sales are prohibited by policy, curbing misalignment risks .
- Vesting/selling pressure: MIC Plan payouts occur semi-annually in cash (June/December); absence of RSU/option vesting reduces calendar-driven sell pressure typical of equity awards .
- Retention/contract risk: No disclosed severance, change-of-control, non-compete, or non-solicit terms for Wilson in reviewed filings, which limits visibility into retention economics, though no related-party or selection arrangements were disclosed .
- Execution context: Company TSR trended down from 2022–2024 and net income fell versus 2022; with incentives tied to profitability, payout variability and deferred salary at-risk suggest sensitivity to bank performance through cycles .