Alpine Banks of Colorado reports developments for its role as the holding company for Alpine Bank, an independent, employee-owned Colorado bank founded in 1973. Through Alpine Bank, the company provides personal banking, business banking, wealth management, mortgage, and electronic banking services across Colorado's Western Slope, mountain communities, and Front Range. Its Class B common stock trades on the OTCQX market under the symbol ALPIB.
Recurring announcements cover unaudited quarterly and annual results, interest income, noninterest income, loan and deposit trends, securities portfolio activity, OREO dispositions, common stock dividends, Class A and Class B share matters, stock repurchase authorization, annual meeting votes, board composition, and leadership succession.
Jennifer Hawley has been promoted to banking officer at Alpine Bank Wealth Management, overseeing client accounts in Ouray, Ridgway, Montrose, and Delta.
Since joining in 2019, she has contributed significantly to the team's success. Alpine Bank Wealth Management manages $1.2 billion in assets, offering services like investment management and financial planning.
Hawley aims to maintain high service standards and further develop her team, highlighting her commitment to client guidance.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $12.7 million for Q1 2022, resulting in earnings of $123.97 per Class A share and $0.83 per Class B share. Key achievements include a 3.4% annual increase in book value per Class A share to $3,874.01, a 1.2% organic loan growth in Q1 totaling $40.6 million, and a 3.5% core deposit growth of $187.4 million. However, net interest margin decreased to 2.87% from 3.43% year-over-year, and total assets dipped 0.6% from the previous quarter to $6.2 billion due to a strategic reduction of reciprocal deposits.
Alpine Banks of Colorado (OTCQX: ALPIB) has declared a quarterly cash dividend of $0.18 per Class B nonvoting common share. This dividend will be payable on May 2, 2022, to shareholders on record as of April 25, 2022. The dividend is consistent with the previous quarter's payment. In addition, the Class A voting common shareholders will receive a dividend of $27.00 per share, also unchanged from prior distributions. Alpine Banks is an employee-owned organization with assets totaling $6.2 billion.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $13.6 million for Q4 2021 and $59.6 million for the full year, marking significant growth from 2020. The book value per Class A common share rose to $4,072.89, and organic loan growth in 2021 was 10.1%, totaling $304.4 million. Total assets increased to $6.2 billion, a 20.0% rise compared to the previous year. The company's strong performance is attributed to substantial deposit growth of 22.4% and improved asset quality, despite a slight decline in net interest margin from 3.09% to 2.90%.
On January 13, 2022, Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.18 per Class B nonvoting common share, payable on January 31, 2022. Shareholders of record as of January 24, 2022 will receive this dividend. The dividend reflects a 12.5% increase compared to the previous quarter. In addition, a dividend of $27.00 for Class A voting shares has also been declared, although these shares are not publicly traded. Alpine Banks, an employee-owned organization with $6.2 billion in assets, prides itself on financial strength and customer service.
Alpine Banks of Colorado (OTCQX: ALPIB) reported third-quarter 2021 net income of $16.2 million, or $157.90 per Class A share and $1.05 per Class B share. Total assets surpassed $6 billion, reflecting a 19.01% increase year-over-year. Book value per Class A and B shares grew by 3.4% compared to the previous quarter. Core deposits rose by $306.9 million, or 5.9%. However, organic loan growth only increased by 0.6%. Net interest margin decreased to 3.00% from 3.07% quarter-over-quarter, and total loans outstanding declined by 2.2% due to PPP loan forgiveness.
Alpine Banks of Colorado (OTCQX: ALPIB) reported robust third-quarter 2021 results with net income reaching $16.2 million, equivalent to $157.90 per Class A share. Total assets surpassed $6 billion, marking a 19% increase year-over-year. Book value per Class A share rose to $4,009.23, and core deposits grew by 5.9%. However, loan balances fell by 2.2% due to a decrease in commercial loans, attributed to PPP forgiveness. The bank remains well-capitalized with a Tier 1 Risk-Based Capital Ratio at 13.09%.
Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.16 per Class B nonvoting common share, payable on November 1, 2021. Shareholders of record as of October 25, 2021 will receive this dividend, which is unchanged from the previous quarter. The Class A voting shares will also maintain a quarterly dividend of $24.00, reflecting stability in the company's dividend policy. Alpine Banks, which operates a $5.8 billion organization, employs over 790 people, providing a range of banking services across Colorado.
Alpine Banks of Colorado (OTCQX: ALPIB) will host a live presentation by CFO Eric Gardey on September 21, 2021, at 10:30 AM ET, as part of the Virtual Investor Conference series. The event offers an interactive platform for investors to ask questions and will be archived for later viewing. As of June 30, 2021, the bank reported total assets of $5.8 billion, a year-to-date ROA of 1.09%, and a YTD ROE of 15.49%. Interested parties are encouraged to pre-register for the event.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $15.7 million for Q2 2021, or $152.16 per Class A share. This marks an increase from $14.1 million in Q1 2021. Key achievements include 2.5% loan growth and 2.8% deposit growth during the quarter. However, interest income decreased by $1.9 million due to lower yields. Total assets reached $5.8 billion, up 2.6% from Q1 2021. Dividends were maintained at $24.00 per Class A and $0.16 per Class B share. The bank is well-capitalized with strong ratios.