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Alpine Banks of Colorado reported net income of $10.6 million for the first quarter of 2024, with basic earnings per Class A common share decreasing by 3.9% and Class B common share decreasing by 45.5% compared to the same period in 2023. The net interest margin for the quarter was 2.81%, down from 2.84% in the previous quarter and 3.52% in the first quarter of 2023. Total assets increased by 2.6% to $6.59 billion, with assets under Alpine Bank Wealth Management division reaching $1.25 billion. Loans outstanding totaled $4.0 billion, and total deposits rose to $5.9 billion, reflecting an increase of $196.1 million compared to the previous year. The Bank remains well-capitalized, with capital ratios exceeding minimum requirements.
