(MENAFN- GlobeNewsWire - Nasdaq) GLENWOOD SPRINGS, Colo., Oct. 30, 2025 (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 third quarter ended September 30, 2025. The Company reported net income of $18.5 million, or $1.16 per basic Class A common share and basic Class B common share, for third quarter 2025.

Highlights in third quarter 2025 include:

• Basic earnings per Class A and Class B common shares increased 5.4%, or $0.06, during third quarter 2025.
• Basic earnings per Class A and Class B common shares increased 41.4%, or $0.92, compared to third quarter 2024.
• Net interest margin for third quarter 2025 was 3.54%, compared to 3.50% in second quarter 2025, and 2.98% in third quarter 2024.
  

“Alpine Bank continued to deliver strong financial results in the third quarter,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman.“Our ROA and ROE continued to grow as the year progressed along with earnings per share and book value per share. We believe that recent developments in the Colorado banking sector will provide opportunities for local community banks. Here at Alpine, we intend to take steps to capitalize on the opportunity.”

Net Income
Net income for third quarter 2025 and second quarter 2025 was $18.5 million and $17.6 million, respectively. Interest income increased $2.3 million in third quarter 2025 compared to second quarter 2025, primarily due to increases in yields in the loan portfolio along with increased volume in the loan portfolio and due from bank balances. These increases were partially offset by decreases in yields and balances in the securities portfolio and decreased yield on due from bank balances. Interest expense increased $0.6 million in third quarter 2025 compared to second quarter 2025, primarily due to increases in costs on the Company's trust preferred securities, other borrowings, and increased volume of deposits. These increases were partially offset by a decrease in rates paid on deposits. Noninterest income increased $0.5 million in third quarter 2025 compared to second quarter 2025, primarily due to increases in service charges on deposit accounts and other income. Noninterest expense increased $0.7 million in third quarter 2025 compared to second quarter 2025, due to increases in salary and employee benefit expenses and occupancy expenses, slightly offset by decreases in other expenses. A provision for loan losses of $1.7 million was recorded in third quarter 2025 compared to a $1.6 million provision for loan losses recorded in the second quarter 2025.

Net income for the nine months ended September 30, 2025, and September 30, 2024, was $50.5 million and $35.9 million, respectively. Interest income increased $12.5 million in the first nine months of 2025 compared to the first nine months of 2024, primarily due to increases in volume in the loan portfolio and balances due from banks, along with increases in yields on the loan portfolio and the securities portfolio. These increases were slightly offset by a decrease in volume in the securities portfolio and a decrease in yield on the balances due from banks. Interest expense decreased $15.8 million in the first nine months of 2025 compared to the first nine months of 2024, primarily due to decreases in cost of deposits. These decreases were partially offset by an increase in the volume of deposit balances. Noninterest income increased $1.7 million in the first nine months of 2025 compared to the first nine months of 2024, primarily due to increases in earnings on bank-owned life insurance and service charges on deposit accounts, partially offset by decreases in other income. Noninterest expense increased $7.0 million in the first nine months of 2025 compared to the first nine months of 2024, due to increases in other expenses, salary and employee benefit expenses, and occupancy expenses, partially offset a decrease in furniture and fixtures expenses. Provision for loan losses increased $4.3 million in the nine months ended September 30, 2025 due to loan portfolio increases and a small volume of loan charge-offs, compared to the nine months ended September 30, 2024.

Net interest margin increased from 3.50% to 3.54% from second quarter 2025 to third quarter 2025. Net interest margin for the nine months ended September 30, 2025, and September 30, 2024, were 3.47% and 2.89%, respectively.

Assets
Total assets increased $212.8 million, or 3.2%, to $6.82 billion as of September 30, 2025, compared to June 30, 2025, primarily due to increased cash and due from banks and loans receivable and partially offset by decreased investment securities balances. The Alpine Bank Wealth Management* division had assets under management of $1.35 billion on September 30, 2025, compared to $1.36 billion on June 30, 2025, a decrease of 0.7%.

Loans
Loans outstanding as of September 30, 2025, totaled $4.2 billion. The loan portfolio increased $34.1 million, or 0.8%, during third quarter 2025 compared to June 30, 2025. This increase was driven by a $34.0 million increase in commercial real estate loans, a $24.2 million increase in real estate construction loans, and a $3.6 million increase in consumer loans. This increase was slightly offset by a $20.0 million decrease in residential real estate loans and a $8.0 million decrease in commercial and industrial loans.

Loans outstanding as of September 30, 2025, reflected an increase of $216.1 million, or 5.3%, compared to loans outstanding of $4.0 billion on September 30, 2024. This growth was driven by a $160.2 million increase in commercial real estate loans, an $84.4 million increase in residential real estate loans, and a $10.7 million increase in consumer loans. This increase was slightly offset by a $9.6 million decrease in real estate construction loans and a $29.8 million decrease in commercial and industrial loans.

Deposits
Total deposits increased $184.6 million, or 3.1%, to $6.1 billion during third quarter 2025 compared to June 30, 2025, primarily due to a $163.8 million increase in demand deposits and a $49.0 million increase in money market accounts. This increase was partially offset by a $1.7 million decrease in certificate of deposit accounts, a $1.2 million decrease in savings accounts, and a $25.4 million decrease in interest-bearing checking accounts. Brokered certificates of deposit decreased 0.1% to $159.9 million on September 30, 2025, compared to $160.0 million on June 30, 2025. Noninterest-bearing demand accounts comprised 31.7% of all deposits on September 30, 2025, compared to 29.9% on June 30, 2025.

Total deposits of $6.1 billion on September 30, 2025, reflected an increase of $187.1 million, or 3.2%, compared to total deposits of $5.9 billion on September 30, 2024. This increase was due to a $227.7 million increase in money market accounts, a $118.0 million increase in demand deposits and a $39.0 million increase in interest-bearing checking accounts. This increase was partially offset by a $191.9 million decrease in certificate of deposit accounts and a $5.7 million decrease in savings accounts. Brokered certificates of deposit decreased 51.7% to $159.9 million on September 30, 2025, compared to $330.7 million on September 30, 2024. Noninterest-bearing demand accounts comprised 31.7% of all deposits on September 30, 2025, compared to 30.7% on September 30, 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 September 30, 2025, the Bank's Tier 1 Leverage Ratio was 10.02%, Tier 1 Risk-Based Capital Ratio was 14.31%, and Total Risk-Based Capital Ratio was 15.47%. On a consolidated basis, the Company's Tier 1 Leverage Ratio was 9.75%, Tier 1 Risk-Based Capital Ratio was 13.92%, and Total Risk-Based Capital Ratio was 15.92% as of September 30, 2025.

Book value per share on September 30, 2025, was $35.56 per Class A and Class B common shares, an increase of $1.59 per share from June 30, 2025.

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 third quarter 2025, the Company paid cash dividends of $0.21 per Class A and Class B common shares. On October 9, 2025, the Company declared cash dividends of $0.21 per Class A and Class B common shares payable on October 27, 2025, to shareholders of record on October 20, 2025.

About Alpine Banks of Colorado
Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.8 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

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

Contacts:		Glen Jammaron		Eric A. Gardey
		President and Vice Chairman		Chief Administration 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) 384-3257

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).

09.30.25 Alpine Banks of Colorado Consolidated Financial Statements

MENAFN30102025004107003653ID1110273276