Alpine Banks of Colorado announces financial results for first quarter 2025
Rhea-AI Summary
Alpine Banks of Colorado reported strong financial results for Q1 2025, with net income reaching $14.3 million. The bank saw significant improvements in key metrics, including a net interest margin increase to 3.38% from 2.81% year-over-year.
Total assets grew to $6.64 billion, up 2.1% from December 2024. The loan portfolio expanded by $66.0 million to $4.1 billion, while deposits increased by $118.0 million to $5.9 billion. The bank maintains its "well capitalized" status with strong capital ratios.
Notable developments include the launch of "Mission Possible: Operation Streamline" initiative and shareholder approval of amended articles of incorporation. The amendments include a 150-for-one stock split for Class A common stock and changes to voting rights. The bank continued its dividend payments, declaring $31.50 per Class A share and $0.21 per Class B share.
Positive
- Net income increased 35% YoY to $14.3 million in Q1 2025
- Net interest margin improved to 3.38% from 2.81% YoY
- Total assets grew 2.1% to $6.64 billion in Q1 2025
- Loan portfolio increased by $66.0 million (1.6%) in Q1 2025
- Total deposits increased by $118.0 million (2.0%) in Q1 2025
- Bank maintains 'well capitalized' status with strong capital ratios
- Book value per share increased by $204.63 for Class A shares in Q1
Negative
- Alpine Bank Wealth Management assets decreased 3.8% to $1.32 billion
- Noninterest expense increased by $0.8 million QoQ
- Provision for loan losses increased to $1.8 million from $1.5 million QoQ
- Brokered certificates of deposit decreased 60.7% YoY to $185.0 million
News Market Reaction – ALPIB
On the day this news was published, ALPIB gained 0.03%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
GLENWOOD SPRINGS, Colo., April 30, 2025 (GLOBE NEWSWIRE) -- Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the first quarter ended March 31, 2025. The Company reported net income of
Highlights in first quarter 2025 include:
- Basic earnings per Class A common share increased
3.9% , or$5.07 , during first quarter 2025. - Basic earnings per Class A common share increased
36.3% , or$35.67 , compared to first quarter 2024. - Basic earnings per Class B common share increased
3.9% , or$0.03 , during first quarter 2025. - Basic earnings per Class B common share increased
36.3% , or$0.23 , compared to first quarter 2024. - Net interest margin for first quarter 2025 was
3.38% , compared to3.18% in fourth quarter 2024, and2.81% in first quarter 2024.
“We are pleased with the start to 2025 as shown in our first quarter 2025 financial performance,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Customer deposit growth continued, led by a strong winter season in our resort markets. Additionally, we saw our loan portfolio totals begin growing again following a slow 2024. Net income increased
Net Income
Net income for first quarter 2025 and fourth quarter 2024 was
Net income for the three months ended March 31, 2025, and March 31, 2024, was
Net interest margin increased from
Assets
Total assets increased
Loans
Loans outstanding as of March 31, 2025, totaled
Loans outstanding as of March 31, 2025, reflected an increase of
Deposits
Total deposits increased
Total deposits of
Capital
The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceed the minimum requirements for this designation. As of March 31, 2025, the Bank’s Tier 1 Leverage Ratio was
Book value per share on March 31, 2025, was
Amended and Restated Articles of Incorporation
On April 10, 2025, the shareholders of Alpine approved amended and restated articles of incorporation to affect the following actions, among other things:
- Increase from 15,100,000 to 30,000,000 the total authorized shares of common stock that the Company is authorized to issue;
- Increase from 100,000 to 15,000,000 the authorized shares of the Class A common stock;
- Effect a forward stock split of the outstanding shares of the Class A common stock by a ratio of 150‐for‐one;
- Provide that holders of Class A common stock and Class B common stock shall be entitled to share equally, on a per share basis based upon the number of shares issued and outstanding, in dividends and other distributions;
- Provide that each one share of Class B common stock shall be entitled to one vote;
- Provide that each one share of Class A common stock shall be entitled to twenty votes;
- Provide that unless otherwise required by law the Class A common stock and Class B common stock will vote together as a single class on all matters, including the election of directors;
- Provide that a majority of the total voting power of the outstanding shares of common stock entitled to vote shall constitute a quorum at any meeting of shareholders; and
- Provide that the approval of certain corporate actions requires the approval of more than 66 2/
3% of the voting power of the outstanding shares of common stock entitled to vote.
Alpine anticipates that the amended and restated articles of incorporation and related stock split of the Class A common stock will become effective on May 1, 2025.
Additional information can be found in the proxy materials for our 2025 Annual Meeting of Stockholders at www.alpinebank.com/who‐we‐are/investor‐relations.html.
Dividends
During first quarter 2025, the Company paid cash dividends of
About Alpine Banks of Colorado
Alpine Banks of Colorado, is a
*Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.
| Contacts: | Glen Jammaron | Eric A. Gardey |
| President and Vice Chairman | Chief Financial Officer | |
| Alpine Banks of Colorado | Alpine Banks of Colorado | |
| 2200 Grand Avenue | 2200 Grand Avenue | |
| Glenwood Springs, CO 81601 | Glenwood Springs, CO 81601 | |
| (970) 384‐3266 | (970) 384‐3257 |
A note about forward‐looking statements
This press release contains “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward‐looking statements include, but are not limited to, statements we make regarding our evaluation of macro‐environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward‐looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward‐looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward‐looking statements. We caution you therefore against relying on any of these forward‐looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward‐looking statement include, but are not limited to:
- The ability to attract new deposits and loans;
- Demand for financial services in our market areas;
- Competitive market‐pricing factors;
- Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
- Effects of future economic, business and market conditions, including higher inflation;
- Adverse effects of public health events, such as the COVID‐19 pandemic, including governmental and societal responses;
- Deterioration in economic conditions that could result in increased loan losses;
- Actions by competitors and other market participants that could have an adverse impact on expected performance;
- Risks associated with concentrations in real estate‐related loans;
- Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
- Market interest rate volatility, including changes to the federal funds rate;
- Stability of funding sources and continued availability of borrowings;
- Geopolitical events, including global tariffs, acts of war, international hostilities and terrorist activities;
- Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
- Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
- Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
- Any increases in FDIC assessments;
- Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
- The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
- Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
- The ability to recruit and retain key management and staff;
- The ability to raise capital or incur debt on reasonable terms; and
- Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.
There are many factors that could cause actual results to differ materially from those contemplated by forward‐looking statements. Any forward‐looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward‐looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
| Contact: | Eric A. Gardey, Chief Financial Officer |
| Alpine Banks of Colorado | |
| (970) 384‐3257 | |
| ericgardey@alpinebank.com |
FAQ
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