Alpine Bank executive team shifts roles with members’ retirement and promotions

Rhea-AI Summary

Alpine Bank has announced significant leadership changes as it prepares for another 50 years of growth. Tom Kenning, the chief administration officer, retired at the end of 2022 but will continue as a board director. New appointments include Andrew Karow as chief operations officer, Glenn Davis as chief development officer, and Jay Rickstrew as chief retail officer. With 800 employees and a 5-star rating from BauerFinancial, Alpine Bank serves 170,000 customers and operates on a $6.2 billion platform, trading under the symbol ALPIB.

Positive

• Leadership transition supports future growth with experienced executives.
• Continues strong corporate governance with Kenning on the board.
• 5-star rating from BauerFinancial indicates superior performance.

Negative

• None.

Leadership changes position the bank for 50 more years of growth and development

Glenwood Springs, Colo., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Tom Kenning, chief administration officer for Alpine Bank, retired at the end of 2022. Since 2013, Kenning had managed back-end operations for the enterprise. His responsibilities included risk management, human resources and security. He chaired the bank’s investment committee and was a member of the wealth management, asset and liability, and loan committees. In retirement, Kenning will continue to serve as a board director, contributing to policy leadership and governance of Alpine Bank.

Kenning’s transition initiated several changes on the Alpine Bank executive team:

• Andrew Karow, MBA — who served as chief digital officer from 2015 to 2022 — is now chief operations officer. Karow joined Alpine Bank in 1996.
• Likewise, Glenn Davis — who served as chief retail officer until April, 2022 — is now chief development officer, tasked with attracting, recruiting, retaining and developing talent for the organization. Davis has been with Alpine Bank since 1988.
• As Davis departed his retail officer role, Jay Rickstrew — formerly the market president of the mountain region for the bank — was promoted into the chief retail officer position in 2022. Rickstrew began his career with the bank in 1994.

“As Alpine Bank celebrates 50 years in business in 2023, it’s gratifying to have broad and deep bench strength and longevity in our leadership team,” says president Glen Jammaron. “Alpine Bank has seen significant changes in our communities and our industry over the decades, and we remain well-positioned as an employee-owned Colorado company to benefit our customers, shareholders, employees and communities long into the future.”

 

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About Alpine Bank

Alpine Bank is a $6.2 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. With banking offices across Colorado’s Western Slope, mountains and Front Range, Alpine Bank employs 800 people and serves 170,000 customers with personal, business, wealth management*, mortgage and electronic banking services. Alpine Bank has a 5-star rating — meaning it has earned a superior performance classification — from BauerFinancial, an independent organization that analyzes and rates financial institutions’ performance in the U.S. Shares of the Class B Nonvoting 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.

FAQ

What leadership changes were announced by Alpine Bank on January 3, 2023?

Alpine Bank announced the retirement of Tom Kenning and appointed Andrew Karow as COO, Glenn Davis as chief development officer, and Jay Rickstrew as chief retail officer.

What is the significance of Tom Kenning's retirement for Alpine Bank?

While Kenning retired as chief administration officer, he will remain on the board, ensuring continuity in leadership and governance.

What is the stock symbol for Alpine Bank?

Alpine Bank's shares of Class B Nonvoting Common Stock trade under the symbol 'ALPIB' on the OTCQX® Best Market.

How many customers does Alpine Bank serve?

Alpine Bank serves approximately 170,000 customers across Colorado.

What financial status does Alpine Bank hold?

Alpine Bank operates on a $6.2 billion platform and has a 5-star rating from BauerFinancial, indicating superior performance.