Alpine Banks of Colorado announces financial results for fourth quarter and year end 2025

GLENWOOD SPRINGS, Colo., Jan. 30, 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 fourth quarter and year ended December 31, 2025. The Company reported net income of $19.7 million, or $1.23 per basic Class A common share and basic Class B common share, for fourth quarter 2025.

Highlights in fourth quarter 2025 and the year ended December 31, 2025, include:

• Basic earnings per Class A and Class B common share increased 6.4%, or $0.07, during fourth quarter 2025 as compared to third quarter 2025.
• Basic earnings per Class A and Class B common share increased 42.0%, or $1.30, during the 12 months ended December 31, 2025.
• Net interest margin for fourth quarter 2025 was 3.57% compared to 3.54% in third quarter 2025 and 3.18% in fourth quarter 2024.

“Alpine Bank finished 2025 with strong financial momentum, a testament to the resilience of our employee-owners and the loyalty of the Colorado communities we serve,” said Alpine Bank President & CEO Glen Jammaron. “While we are proud of our accomplishments in 2025, our hearts remain heavy following the loss of our founder and chairman, Bob Young, this past December. Bob’s legacy is woven into the very fabric of Alpine Bank—from our commitment to independence to his belief that ‘caring’ is the most valuable thing one person can give to another. He was deeply committed to creating opportunities for his fellow employees to grow and succeed, and we intend to honor him by remaining an independent, community-focused bank that puts people first. We are proud to carry Bob’s legacy forward and ensure the values he championed for over 50 years continue to guide us.”

Net Income

Net income for fourth quarter 2025 and third quarter 2025 was $19.7 million and $18.5 million, respectively. Interest income increased $1.7 million in fourth quarter 2025 compared to third quarter 2025, primarily due to increases in yields in the loan portfolio along with increased loan portfolio balances and due from bank earnings. Interest expense decreased $0.9 million in fourth quarter 2025 compared to third quarter 2025, primarily due to decreases in rates paid on deposits. Other interest expense increased $0.2 million, or 7%, in fourth quarter 2025 compared to third quarter 2025 primarily due to having two issuances of subordinated notes outstanding for approximately three weeks in fourth quarter 2025 prior to the redemption of the earlier issuance. Noninterest income increased $2.2 million in fourth quarter 2025 compared to third quarter 2025, primarily due to increases in service charges on deposit accounts and other income as well as earnings on life insurance. Noninterest expense increased $3.9 million in fourth quarter 2025 compared to third quarter 2025, due to increases in salary and employee benefit expenses, occupancy expenses, and other expenses including consulting fees. A provision for loan losses of $1.8 million was recorded in fourth quarter 2025 compared to a $1.7 million provision for loan losses recorded in third quarter 2025.

Net income for the years ended December 31, 2025, and December 31, 2024, was $70.2 million and $49.7 million, respectively. Interest income increased $18.8 million in 2025 compared to 2024, primarily due to increases in loan portfolio balances and due from banks, along with increases in yields on the loan and securities portfolio. Interest expense decreased $19.1 million in 2025 compared to 2024, primarily due to decreases in cost of deposits, partially offset by an increase in the volume of deposit balances. Noninterest income increased $4.3 million in 2025 compared to 2024, primarily due to increases in earnings on bank-owned life insurance, service charges on deposit accounts and other income. Noninterest expense increased $11.8 million in 2025 compared to 2024, due to increases in other expenses, consulting fees, salary and employee benefit expenses, and occupancy expenses, partially offset by a decrease in furniture and fixtures expenses. Provision for loan losses increased $4.7 million in 2025 compared to 2024 due to loan portfolio increases.

Net interest margin increased from 3.54% to 3.57% from third quarter 2025 to fourth quarter 2025. Net interest margin for the years ended December 31, 2025, and December 31, 2024, were 3.49% and 2.96%, respectively.

Assets

Total assets increased $34.0 million, or 0.5%, to $6.85 billion as of December 31, 2025, compared to September 30, 2025, primarily due to increased loans, partially offset by decreased investment securities and cash balances. Total assets increased $328.8 million, or 5.0%, to $6.85 billion as of December 31, 2025, compared to December 31, 2024, primarily due to increased cash and due from banks and loans, partially offset by decreased investment securities balances.

The Alpine Bank Wealth Management* division had assets under management of $1.34 billion on December 31, 2025, compared to $1.35 billion on September 30, 2025, a decrease of 0.1%.

Loans

The loan portfolio increased $93.9 million, or 2.2%, to $4.3 billion as of December 31, 2025, compared to September 30, 2025. This increase was driven by a $2.7 million increase in commercial real estate loans, a $47.1 million increase in real estate construction loans, a $3.7 million increase in consumer loans, a $27.7 million increase in residential real estate loans and a $13.4 million increase in commercial and industrial loans, partially offset by decreases in other loans.

Loans outstanding as of December 31, 2025, increased $278.6 million, or 6.9%, compared to loans outstanding of $4.0 billion on December 31, 2024. This growth was driven by a $140.8 million increase in commercial real estate loans, an $81.6 million increase in residential real estate loans, a $12.0 million increase in consumer loans, a $43.0 million increase in real estate construction loans and a $3.9 million increase in commercial and industrial loans, partially offset by decreases in other loans.

Deposits

Total deposits decreased $8.8 million, or 0.1%, to $6.0 billion during fourth quarter 2025 compared to third quarter 2025, primarily due to a $101.7 million decrease in demand deposits and a $90.6 million decrease in certificates of deposit. This decrease was partially offset by a $100.2 million increase in interest-bearing checking accounts and an $84.1 million increase in money fund accounts. Brokered certificates of deposit decreased to $80.0 million on December 31, 2025, compared to $160.0 million on September 30, 2025. Noninterest-bearing demand accounts comprised 30.1% of all deposits on December 31, 2025, compared to 31.7% on September 30, 2025.

Total deposits increased $225.5 million, or 3.9%, to $6.0 billion on December 31, 2025, compared to total deposits of $5.8 billion on December 31, 2024. This increase was due to a $252.9 million increase in money market accounts, a $63.1 million increase in demand deposits and a $104.9 million increase in interest-bearing checking accounts, partially offset by a $189.8 million decrease in certificate of deposit accounts and a $5.6 million decrease in savings accounts. Brokered certificates of deposits decreased to $80.0 million on December 31, 2025, compared to $245.0 million on December 31, 2024. Noninterest-bearing demand accounts comprised 30.1% of all deposits on December 31, 2025, compared to 30.2% on December 31, 2024.

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 December 31, 2025, the Bank’s Tier 1 Leverage Ratio was 10.49%, Tier 1 Risk-Based Capital Ratio was 14.88%, and Total Risk-Based Capital Ratio was 16.04%. On a consolidated basis, the Company’s Tier 1 Leverage Ratio was 9.88%, Tier 1 Risk-Based Capital Ratio was 14.01%, and Total Risk-Based Capital Ratio was 15.16% as of December 31, 2025.

Book value per Class A and Class B common share on December 31, 2025, was $36.82, an increase of $1.26, or 3.5%, compared to September 30, 2025, and an increase of $5.25 or 16.6% compared to December 31, 2024.

All Class A 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 shares effective on May 1, 2025.

Dividends

During fourth quarter 2025, the Company paid cash dividends of $0.21 per Class A and Class B common share. On January 8, 2026, the Company declared cash dividends of $0.23 per Class A and Class B common share payable on January 26, 2026, to shareholders of record on January 20, 2026.

About Alpine Banks of Colorado

Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.9 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five-star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.

*Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.

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 Consolidated Financial Statements 12.31.2025