WATERLOO, Iowa -- Iowa National Bankshares reported net income of $6 million for the first six months of 1994, a 7.5% reduction from $6.4 million for the same period a year ago. Net income was was $1.03 per share for the first half of 1994, compared with $1.12 in the previous period.

The company attributed the downturn to a decline in its net interest margin.

For the second quarter, Iowa National earned $2.9 million, or 51 cents per share, down from $3.1 million, or 55 cents per share a year earlier.

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