Alpine Banks of Colorado announces financial results for first quarter 2026
Rhea-AI Summary
Alpine Banks of Colorado (OTCQX: ALPIB) reported first quarter 2026 results. Net income was $20.2 million and EPS was $1.26. Net interest margin was 3.72% and average deposit cost was 1.81%. Loans were $4.3 billion and deposits totaled $6.0 billion.
Asset quality showed nonperforming loans at 0.32% and allowance for credit losses at 1.12% of loans. Tangible book value per share was $36.64 and capital ratios remained well above regulatory minima.
Positive
- Net income $20.2M in Q1 2026
- EPS $1.26 in Q1 2026
- Net interest margin 3.72%
- Loans held for investment $4.3B
- Deposits $6.0B
- Tangible book value per share $36.64
Negative
- Provision for credit losses $3.2M in Q1 2026
- Nonperforming loans 0.32% of loans
- Noninterest expense increased to $50.4M
AI-generated analysis. How Rhea-AI works. Not financial advice.
GLENWOOD SPRINGS, Colo., May 01, 2026 (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 quarter ended March 31, 2026.
First Quarter 2026 Highlights
- Net income for the first quarter of 2026 was
$20.2 million , compared to$19.8 million for the fourth quarter of 2025 and$14.3 million for the first quarter of 2025. - Basic earnings per share for the first quarter of 2026 was
$1.26 , compared to$1.23 for the fourth quarter of 2025 and$0.89 for the first quarter of 2025. - Average cost of deposits for the first quarter of 2026 was
1.81% , compared to1.94% for the fourth quarter of 2025 and2.1% for the first quarter of 2025. - Net interest margin, on a tax-equivalent basis, was
3.72% for the first quarter of 2026, compared to3.57% for the fourth quarter of 2025 and3.38% for the first quarter of 2025. - Nonperforming loans to total loans were
0.32% as of March 31, 2026, compared to0.25% as of December 31, 2025 and0.25% as of March 31, 2025. - Return on average assets for the first quarter of 2026 was
1.21% , compared to1.16% for the fourth quarter of 2025 and0.87% for the first quarter of 2025. - Tangible book value (non-GAAP) per share was
$36.64 as of March 31, 2026, compared to$35.71 as of December 31, 2025 and$31.84 as of March 31, 2025. - Consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio as of March 31, 2026 were
17.12% ,12.96% , and10.14% , respectively.
“Alpine Bank’s record performance for the first quarter of 2026 marks a significant milestone in a journey that began over 50 years ago,” said Alpine Bank President/CEO and Chairman Glen Jammaron. “What started in 1973 as a single branch in Carbondale with just
Jammaron remarked the bank's first quarter 2026 results, characterized by record earnings and expanded margins, are a direct outcome of staying true to those humble beginnings.
“By strategically capitalizing on marketplace changes, we have been able to welcome new customers seeking the stability of a local bank while continuing to drive value for our employee-owners and shareholders,” added Jammaron. “As we navigate 2026, we remain a bank that is deeply committed to our communities and that is inspired by the same independent spirit that defined us on day one.”
Results of Operations, Quarter Ended March 31, 2026
Net Interest Income
Net interest income was
Interest income was
Interest expense was
Noninterest Income and Noninterest Expense
Noninterest income was
Noninterest expense was
partially offset by a reduction in electronic banking expenses.
Loan Portfolio and Composition
Loans held for investment were
Deposits and Borrowings
Deposits totaled
Asset Quality
The Company recorded a provision for credit losses in the first quarter of 2026 of
The ratio of allowance for credit losses to loans held for investment was
The ratio of nonperforming loans to total loans was
Capital
Book value per Class A and Class B common share increased to
All Class A common share and per share information set forth herein for the periods prior to the third quarter 2025 have been adjusted to reflect the 150-for-1 stock split of the Class A common shares effective on May 1, 2025.
Dividends
On April 9, 2026, the Company declared cash dividends of
Alpine Bank Wealth Management
The Alpine Bank Wealth Management division had assets under management of
About Alpine Banks of Colorado
Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a
*Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.
| Contacts: | Glen Jammaron President/CEO and Chairman Alpine Banks of Colorado 2200 Grand Avenue Glenwood Springs, CO 81601 (970) 384-3266 | Mike Burns Chief Financial Officer Alpine Banks of Colorado 2200 Grand Avenue Glenwood Springs, CO 81601 (970) 259-3090 |
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.
Key Financial Measures
The attached tables highlight the Company’s key financial measures for the periods indicated (unaudited).
Alpine Banks of Colorado Key Financial Measures 03.31.2026
| Contact: | Mike Burns, Chief Financial Officer Alpine Banks of Colorado (970) 259-3090 mikeburns@alpinebank.com |
