You will need to use the MovieClipLoader class. It supports having a listener, which you can use to determine when the image has loaded so that you can take action on it.
If you look up the MovieClipLoader.addEventListener() methoid, there is an example there that will be helpful in seeing how to configure things (it's not your scenario, but a good reference).
Is there anyway that after the images being loaded I can animate it like animate on timeline?
Thanks for the reply.
That depends on the type of animation you intend for it. For a timeline animation you'd have to load it into a special movieclip that has a placeholder movieclip for the image, where the placeholder is what you animate along the timeline.
You could possibly use a coded animation depending on the nature of the animation.