Alpine Banks of Colorado announces financial results for third quarter 2026
Higher interest income and lower interest expense accompanied increased operating costs and a higher nonperforming-loan ratio.
Sentiment and the balance of points
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Rhea-AI Summary
Alpine Banks of Colorado (ALPIB) reported third-quarter 2026 net income of $20.1 million, up 8.6% from a year earlier. Basic earnings per Class A and Class B common share rose to $1.26 from $1.16. Net interest income reached $64.3 million, versus $56.7 million a year earlier, while net interest margin widened to 3.96% from 3.54%.
Noninterest expense rose to $51.9 million from $45.8 million. Loans held for investment totaled $4.5 billion at September 30, up 6.9% year over year, while deposits fell 3.0% to $5.9 billion. Nonperforming loans increased to 0.34% of total loans from 0.21% a year earlier. The credit-loss provision was $2.5 million, versus $4.0 million in the preceding quarter and $1.7 million a year earlier. Capital remained above regulatory requirements for a well-capitalized bank. Alpine plans to open a Littleton, Colorado branch in spring 2027.
How this balance works
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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter 2026 net income reached $20.1 million, versus $19.9 million in Q2 2026 and $18.5 million in Q3 2025.
- Moderate pointQ3 2026 net interest income reached $64.3 million, versus $61.6 million sequentially and $56.7 million a year earlier.
- Moderate pointQ3 2026 net interest margin widened to 3.96%, versus 3.85% sequentially and 3.54% a year earlier.
- Moderate pointQ3 2026 noninterest income reached $14.5 million, versus $13.7 million in both comparison quarters.
- Moderate pointSeptember 30, 2026 loans held for investment increased 6.9% year over year to $4.5 billion, unchanged sequentially.
- Moderate pointQ3 2026 return on average assets was 1.18%, unchanged sequentially and above 1.09% a year earlier.
12 minor points
- Minor pointQ3 2026 basic earnings per Class A and Class B share reached $1.26, versus $1.25 sequentially and $1.16 a year earlier.
- Minor pointQ3 2026 interest income rose to $84.3 million, versus $82.3 million sequentially and $80.4 million a year earlier.
- Minor pointQ3 2026 interest expense fell to $20.0 million, versus $20.7 million sequentially and $23.7 million a year earlier.
- Minor pointQ3 2026 interest-bearing deposit costs fell to 1.74%, versus 1.75% sequentially and 2.04% a year earlier.
- Minor pointQ3 2026 loan originations reached $443.0 million, below $458.0 million sequentially but above $340.0 million a year earlier.
- Minor pointSeptember 30, 2026 noninterest-bearing deposits rose to $1.9 billion from $1.8 billion at June 30, matching September 2025.
- Minor pointQ3 2026 annualized net charge-offs fell to 0.04%, versus 0.10% sequentially and 0.07% a year earlier.
- Minor pointSeptember 30, 2026 capital remained above well-capitalized regulatory requirements; total risk-based capital was 17.08% and common equity tier 1 was 13.02%.
- Minor pointSeptember 30, 2026 tier 1 leverage ratio rose to 10.62%, versus 10.46% at June 30 and 9.75% a year earlier.
- Minor pointSeptember 30, 2026 book value per Class A and Class B share rose to $39.21, versus $38.69 sequentially and $35.56 a year earlier.
- Minor pointSeptember 30, 2026 non-GAAP tangible book value per Class A and Class B share reached $38.10, versus $37.59 sequentially and $34.45 a year earlier.
- Minor point. Forward-looking: it has not happened yet and may not happen.Alpine plans to open a Littleton, Colorado branch in spring 2027.
Negative
- Moderate pointQ3 2026 noninterest expense rose to $51.9 million, versus $46.9 million sequentially and $45.8 million a year earlier.
- Moderate pointSeptember 30, 2026 deposits fell 3.0% year over year to $5.9 billion, unchanged from June 30.
- Moderate pointSeptember 30, 2026 nonperforming loans reached 0.34% of total loans, versus 0.31% sequentially and 0.21% a year earlier.
- Minor pointQ3 2026 credit-loss provision was $2.5 million, below $4.0 million sequentially but above $1.7 million a year earlier.
- Minor pointSeptember 30, 2026 wealth-management assets were $1.42 billion, below $1.45 billion sequentially but above $1.35 billion a year earlier.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GLENWOOD SPRINGS, Colo., Oct. 28, 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 September 30, 2026. The Company reported net income of
Glen Jammaron, Chairman and CEO stated, "The third quarter marked a period of meaningful progress for Alpine Bank, both in our financial performance and in the strength of the leadership team guiding our future. This quarter, we took deliberate steps to position the Bank for its next chapter. We were pleased to appoint Jay Rickstrew as Vice Chairman of the Company and President of the Bank, and Matt Teeters as Chief Retail Officer of the Bank. Both officers bring deep experience and a clear commitment to the communities we serve. Their new leadership roles have allowed me to devote greater attention to the Bank's highest-level priorities, helping to ensure that every strategic decision we make stays firmly aligned with the culture, brand and values that define Alpine Bank. We also strengthened our operational foundation with the addition of a Chief Information Officer and a Controller of the Bank. Sound technology, disciplined financial management and strong internal controls are essential to serving our customers well.”
“Our growth is extending beyond these management changes. We are also planning to open our newest branch in Littleton, Colorado in the Spring of 2027. We believe that the Littleton branch will provide us with an opportunity to bring our relationship-focused approach to new customers and businesses, and we look forward to becoming an active partner in that community.”
“As we look ahead to the close of 2026 and beyond, we believe that Alpine Bank has the right people, strategy and culture in place to deliver lasting value for our customers, our communities, and our shareholders. On behalf of the Board of Directors, I thank our employee-owners for their hard work and our shareholders for their continued confidence."
Third Quarter 2026 Highlights
- Net income for the third quarter of 2026 was
$20.1 million , compared to$19.9 million for the second quarter of 2026 and$18.5 million for the third quarter of 2025. - Basic earnings per Class A and Class B common share for the third quarter of 2026 was
$1.26 , compared to$1.25 for the second quarter of 2026 and$1.16 for the third quarter of 2025. - Cost of interest-bearing deposits for the third quarter of 2026 was
1.74% , compared to1.75% for the second quarter of 2026 and2.04% for the third quarter of 2025. - Net interest margin was
3.96% for the third quarter of 2026, compared to3.85% for the second quarter of 2026 and3.54% for the third quarter of 2025. - Nonperforming loans to total loans was
0.34% as of September 30, 2026, compared to0.31% as of June 30, 2026, and0.21% as of September 30, 2025. - Return on average assets for the third quarter of 2026 was
1.18% , unchanged from second quarter of 2026 and1.09% for the third quarter of 2025. - Tangible book value (non-GAAP) per Class A and Class B common share was
$38.10 as of September 30, 2026, compared to$37.59 as of June 30, 2026, and$34.45 as of September 30, 2025. - Consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio as of September 30, 2026, were
17.08% ,13.02% , and10.62% , respectively.
Results of Operations, Quarter Ended September 30, 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
Loan Portfolio and Composition
Loan production stayed flat in the third quarter of 2026 with loans held for investment totaling
Investment Portfolio
Total securities, as a percentage of total assets, was
Deposits
Deposits remained stable during the third quarter of 2026 with deposits totaling
Provision for Credit Losses
The Company recorded a provision for credit losses in the third quarter of 2026 of
The ratio of allowance for credit losses to loans held for investment was
Asset Quality
The ratio of nonperforming loans to total loans was
Capital
Capital levels as of September 30, 2026, remained above regulatory requirements for a well-capitalized bank as set forth in the Company’s attached unaudited selected financial data. Book value per Class A and Class B common share increased to
Dividends
During the third quarter ended September 30, 2026, the Company paid 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 | Mike Burns |
| Chairman and CEO | 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) 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. 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. There are many factors that could cause actual results to differ materially from those contemplated by forward-looking statements including, but not limited to:
- The ability to attract and retain deposits and loans;
- Demand for financial services in our market areas;
- Adverse economic conditions in our markets or other markets where we have lending relationships;
- Credit risks of lending activities, including loan delinquencies, write-offs, fluctuating collateral values, changes in our allowance for credit losses and provision for credit losses;
- Changes in employment levels, labor shortages, persistent inflation, recessionary pressures or slowing economic growth;
- Increased competitive pressures among financial services companies, including repricing and competitors’ pricing initiatives, and their impact on our market position and loan and deposit products;
- Risks associated with concentrations in real estate-related loans;
- Changes in interest rate levels and volatility, and the timing and pace of such changes, including actions by the Board of Governors of the Federal Reserve System;
- Stability of funding sources and continued availability of borrowings;
- Geopolitical developments and conflicts, including tensions or instability in Eastern Europe, the Middle East and Asia, or the effects of new or increased tariffs and trade restrictions, which may disrupt financial markets, global supply chains, commodity prices or economic activity;
- Effects of a federal government shutdown, debt ceiling standoff or other fiscal uncertainty;
- 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;
- Fluctuations in loan demand, unsold homes, land and property values and secondary market conditions for loans;
- Actions of government regulators, including any increases in FDIC assessments;
- Quality and composition of our securities portfolio and adverse changes in the securities markets;
- The ability to adapt to rapid technological changes, including advancements related to artificial intelligence (“AI”), digital banking platforms and cybersecurity;
- Risks associated with the use of AI in credit underwriting, customer service and operations, including model error, algorithmic bias, regulatory scrutiny under fair lending laws and reliance on third-party AI providers;
- Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
- Changes in legal or regulatory requirements, including changes in capital requirements, banking regulations, tax laws or consumer protection laws;
- Results of examinations by regulatory authorities and potential requirements to increase our credit loss allowances, write-down assets, reclassify assets, change our regulatory or capital position, or affect our liquidity and earnings;
- Costs and effects of litigation;
- Effects of climate change, severe weather, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events;
- Changes in consumer spending, borrowing and savings habits;
- Expectations regarding key growth initiatives and strategic priorities;
- Inability of key third-party providers to fulfill obligations;
- Changes in accounting policies and practices;
- The ability to recruit and retain key management and staff;
- The ability to raise capital or incur debt on reasonable terms;
- Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets; and
- Other economic, competitive, governmental, regulatory and technological factors affecting our operations, pricing, products and services.
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. We undertake no obligation to update, and we specifically disclaim any obligation to revise, 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 09.30.2026
| Contact: | Mike Burns, Chief Financial Officer |
| Alpine Banks of Colorado | |
| (970) 259-3090 | |
| mikeburns@alpinebank.com |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Alpine Banks of Colorado's third-quarter 2026 earnings?
Alpine earned $20.1 million in Q3 2026, an 8.6% increase from $18.5 million in Q3 2025. Basic earnings per Class A and Class B common share were $1.26, compared with $1.16 a year earlier and $1.25 in Q2 2026.
What drove Alpine Banks of Colorado's third-quarter 2026 credit-loss provision?
The $2.5 million provision included $1.0 million related to credit losses, $0.6 million related to loan closings and growth, and $0.9 million related to increasing the total allowance for credit losses by two basis points. The allowance-to-loans-held-for-investment ratio was 1.16% at September 30, 2026, versus 1.14% at June 30, 2026, and 1.10% a year earlier.
What dividend did Alpine Banks of Colorado declare in October 2026?
Alpine declared a cash dividend of $0.23 per Class A and Class B common share on October 8, 2026, payable October 26, 2026, to shareholders of record October 19, 2026. It also paid $0.23 per share during the third quarter.