GLENWOOD SPRINGS, Colo., July 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 quarter ended June 30, 2026. The Company reported net income of $19.9 million for the second quarter of 2026 which reflects an increase of 13% from net income of $17.6 million for the second quarter of 2025, primarily due to increased loans.
Glen Jammaron, Chairman, President and CEO stated, “Our continued support of the communities we serve across Colorado continued to benefit Alpine Bank, as the market disruption throughout the state created new opportunities. We remain committed to those communities as we seek to drive value for our employee-owners and shareholders.”
Second Quarter 2026 Highlights
- Net income for the second quarter of 2026 was $19.9 million, compared to $20.2 million for the first quarter of 2026 and $17.6 million for the second quarter of 2025.
- Basic earnings per share for the second quarter of 2026 was $1.25, compared to $1.26 for the first quarter of 2026 and $1.10 for the second quarter of 2025.
- Cost of interest-bearing deposits for the second quarter of 2026 was 1.79%, compared to 1.81% for the first quarter of 2026 and 2.05% for the second quarter of 2025.
- Net interest margin, on a tax-equivalent basis, was 3.79% for the second quarter of 2026, compared to 3.72% for the first quarter of 2026 and 3.50% for the second quarter of 2025.
- Nonperforming loans to total loans was 0.31% as of June 30, 2026, compared to 0.32% as of March 31, 2026, and 0.26% as of June 30, 2025.
- Return on average assets for the second quarter of 2026 was 1.18%, compared to 1.21% for the first quarter of 2026 and 1.06% for the second quarter of 2025.
- Tangible book value (non-GAAP) per share was $37.59 as of June 30, 2026, compared to $36.64 as of March 31, 2026, and $32.87 as of June 30, 2025.
- Consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio as of June 30, 2026, were 17.17%, 13.06%, and 10.46%, respectively.
Results of Operations, Quarter Ended June 30, 2026
Net Interest Income
Net interest income was $62.9 million for the second quarter of 2026, compared to $60.6 million for the first quarter of 2026 and $55.0 million for the second quarter of 2025. Net interest margin was 3.79% for the second quarter of 2026, compared to 3.72% for the first quarter of 2026 and 3.50% for the second quarter of 2025, due primarily to repricing during the second quarter of 2026 of loans and securities originated in 2020-2022. The average weighted rate on loans closed was 6.56% for the second quarter of 2026, compared to 6.91% for the first quarter of 2026 and 7.49% for the second quarter of 2025. The cost of interest-bearing deposits was 1.79% for the second quarter of 2026, which is 2 basis points lower than the first quarter of 2026 and 27 basis points lower than the second quarter of 2025.
Interest income was $83.7 million for the second quarter of 2026, compared to $81.5 million for the first quarter of 2026 and $78.1 million for the second quarter of 2025. Interest income increased $2.2 million in the second quarter of 2026 from the first quarter of 2026, primarily due to additional earnings from loans partially offset by a reduction in the securities balances. Interest income increased $5.6 million in the second quarter of 2026 compared to the second quarter of 2025, primarily due to higher loan balances as well as increased yields on the loan and securities portfolio in the second quarter of 2026.
Interest expense was $20.7 million for the second quarter of 2026, compared to $20.8 million for the first quarter of 2026 and $23.1 million for the second quarter of 2025. Interest expense decreased $0.1 million in the second quarter of 2026 compared to the first quarter of 2026 and decreased $2.4 million compared to the second quarter of 2025. The $2.4 million decrease in the second quarter of 2026 from the second quarter of 2025 was primarily a result of the reduction of interest rates paid on deposits.
Noninterest Income and Noninterest Expense
Noninterest income was $13.7 million for the second quarter of 2026, compared to $17.7 million for the first quarter of 2026 and $13.2 million for the second quarter of 2025. The $4.1 million decrease from the first quarter of 2026 was primarily due to profit from the sale of an OREO property held by the Bank in the first quarter of 2026.
Noninterest expense was $48.2 million for the second quarter of 2026, compared to $50.4 million for the first quarter of 2026 and $45.1 million for the second quarter of 2025. The $2.3 million decrease from the first quarter of 2026 was partially due to decreased salaries and benefits and business development.
Loan Portfolio and Composition
Loan production increased in the second quarter of 2026 with loans held for investment totaling $4.5 billion as of June 30, 2026, compared to $4.3 billion as of March 31, 2026, and $4.2 billion as of June 30, 2025. The increase of $124.2 million, or 11% annualized, during the second quarter of 2026 compared to the first quarter of 2026 was primarily due to an increase in commercial real estate loan balances, commercial and industrial loan balances, 1-4 family residential loans and other consumer loans. As of June 30, 2026, loans held for investment increased $264.1 million, or 6%, compared to June 30, 2025. Total loans originated in the second quarter of 2026 were $458 million compared to $254 million in the first quarter of 2026 and $297 million in the second quarter of 2025.
Investment Portfolio
The Company sold $49.0 million available-for-sale securities in the second quarter of 2026 with proceeds used to fund the loan growth experienced in the quarter. A net loss of $309,000 was recorded as a result of the sales. Total securities, as a percentage of total assets, was 25% as of June 30, 2026, compared to 26% as of March 31, 2026.
Deposits
Deposits remained stable during the second quarter of 2026 with deposits totaling $5.9 billion as of June 30, 2026, compared to $6.0 billion as of March 31, 2026, and $5.9 billion as of June 30, 2025. Deposits decreased $98.1 million, or 1.6%, in the second quarter of 2026 from March 31, 2026. Deposits decreased $3.9 million, or 0.1%, as of June 30, 2026, compared to June 30, 2025. Noninterest-bearing deposits were $1.8 billion as of June 30, 2026, compared to $1.8 billion as of March 31, 2026, and $1.8 billion as of June 30, 2025. Noninterest-bearing deposits represented 30.2% of total deposits as of June 30, 2026.
Provision for Credit Losses
The Company recorded a provision for credit losses in the second quarter of 2026 of $4.0 million, compared to $3.2 million in the first quarter of 2026 and $1.6 million in the second quarter of 2025. Of the $4.0 million provision in the second quarter of 2026, $1.3 million was related to credit losses, $1.8 million was related to loan closings and growth and $.9 million was related to increasing the total allowance for credit losses by 2 basis points.
The ratio of allowance for credit losses to loans held for investment was 1.14% as of June 30, 2026, compared to 1.12% as of March 31, 2026, and 1.10% as of June 30, 2025.
Asset Quality
The ratio of nonperforming loans to total loans was 0.31% as of June 30, 2026, compared to 0.32% as of March 31, 2026, and 0.26% as of June 30, 2025. Annualized net charge-offs were 0.1% for the second quarter of 2026, compared to 0.19% for the first quarter of 2026 and 0.08% for the second quarter of 2025.
Capital
Capital levels as of June 30, 2026, remained above regulatory requirements for a well-capitalized bank as set forth in the Company’s attached selected financial data. Book value per Class A and Class B common share increased to $38.69 on June 30, 2026, compared to $37.74 as of March 31, 2026. The tier 1 leverage ratio (non-GAAP) increased 32 basis points to 10.46% in the second quarter of 2026 compared to 10.14% as of the first quarter of 2026, largely due to an increase in retained earnings against a stable balance sheet.
All Class A common share and per share information set forth herein for the periods prior to the third quarter of 2025 have been adjusted to reflect the 150-for-1 stock split of the Class A common shares effective on May 1, 2025.
Dividends
During the second quarter ended June 30, 2026, the Company paid cash dividends of $0.23 per Class A and Class B common share. On July 9, 2026, the Company declared cash dividends of $0.23 per Class A and Class B common share payable on July 27, 2026, to shareholders of record on July 20, 2026.
Alpine Bank Wealth Management*
The Alpine Bank Wealth Management division had assets under management of $1.45 billion on June 30, 2026, compared to $1.34 billion on March 31, 2026.
About Alpine Banks of Colorado
Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.7 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.
| Contacts: | Glen Jammaron | Mike Burns |
| President/CEO and 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) 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 06.30.2026
| Contact: | Mike Burns, Chief Financial Officer |
| Alpine Banks of Colorado | |
| (970) 259-3090 | |
| mikeburns@alpinebank.com |
