CORRECTION: Alpine Banks of Colorado announces financial results for third quarter 2024
Alpine Banks of Colorado (ALPIB) reported net income of $13.6 million for Q3 2024, with earnings of $127.16 per Class A share and $0.85 per Class B share. Key highlights include a 16.8% increase in basic earnings per share for both share classes compared to Q3 2023, and net interest margin improvement to 2.98% from 2.87% in Q2 2024.
Total assets reached $6.58 billion, up 1.7% from Q2 2024. The loan portfolio decreased 0.9% to $4.0 billion, while deposits increased 1.3% to $5.9 billion. The Bank maintains its 'well capitalized' status with a Tier 1 Leverage Ratio of 9.62%. The company declared cash dividends of $30.00 per Class A share and $0.20 per Class B share.
Alpine Banks of Colorado (ALPIB) ha riportato un reddito netto di 13,6 milioni di dollari per il terzo trimestre del 2024, con guadagni di 127,16 dollari per azione di Classe A e 0,85 dollari per azione di Classe B. I punti salienti includono un incremento del 16,8% degli utili per azione di base per entrambe le classi di azioni rispetto al terzo trimestre del 2023 e un miglioramento del margine di interesse netto al 2,98% rispetto al 2,87% del secondo trimestre del 2024.
Il totale delle attività ha raggiunto 6,58 miliardi di dollari, in aumento dell'1,7% rispetto al secondo trimestre del 2024. Il portafoglio prestiti è diminuito dello 0,9% a 4,0 miliardi di dollari, mentre i depositi sono aumentati dell'1,3% a 5,9 miliardi di dollari. La Banca mantiene il suo status di 'ben capitalizzata' con un rapporto di leva Tier 1 del 9,62%. L'azienda ha dichiarato dividendi in denaro di 30,00 dollari per azione di Classe A e 0,20 dollari per azione di Classe B.
Bancos Alpine de Colorado (ALPIB) reportó un ingreso neto de 13.6 millones de dólares para el tercer trimestre de 2024, con ganancias de 127.16 dólares por acción de Clase A y 0.85 dólares por acción de Clase B. Los aspectos más destacados incluyen un aumento del 16.8% en las ganancias básicas por acción para ambas clases de acciones en comparación con el tercer trimestre de 2023, y una mejora en el margen de interés neto al 2.98% desde el 2.87% en el segundo trimestre de 2024.
Los activos totales alcanzaron 6.58 mil millones de dólares, un aumento del 1.7% desde el segundo trimestre de 2024. La cartera de préstamos disminuyó un 0.9% a 4.0 mil millones de dólares, mientras que los depósitos aumentaron un 1.3% a 5.9 mil millones de dólares. El Banco mantiene su estatus de 'bien capitalizado' con un Ratio de Apalancamiento Tier 1 del 9.62%. La compañía declaró dividendos en efectivo de 30.00 dólares por acción de Clase A y 0.20 dólares por acción de Clase B.
콜로라도 알프라인 은행(ALPIB)는 2024년 3분기에 1,360만 달러의 순이익을 보고했으며, 클래스 A 주당 127.16달러, 클래스 B 주당 0.85달러의 수익을 기록했습니다. 주요 하이라이트로는 2023년 3분기 대비 두 주식 클래스 모두에 대한 기본 주당 이익이 16.8% 증가했으며, 순이자 마진이 2024년 2분기 2.87%에서 2.98%로 개선된 점이 있습니다.
총 자산은 65.8억 달러에 도달했으며, 이는 2024년 2분기 대비 1.7% 증가한 수치입니다. 대출 포트폴리오는 0.9% 감소하여 40억 달러가 되었고, 예금은 1.3% 증가하여 59억 달러가 되었습니다. 은행은 9.62%의 Tier 1 레버리지 비율로 '양호한 자본 상태'를 유지하고 있습니다. 회사는 클래스 A 주당 30.00달러, 클래스 B 주당 0.20달러의 현금 배당금을 선언했습니다.
Banques Alpine du Colorado (ALPIB) a annoncé un revenu net de 13,6 millions de dollars pour le troisième trimestre 2024, avec des bénéfices de 127,16 dollars par action de classe A et 0,85 dollar par action de classe B. Les points forts incluent une augmentation de 16,8 % des bénéfices de base par action pour les deux classes d'actions par rapport au troisième trimestre 2023, et une amélioration de la marge d'intérêt nette à 2,98 % contre 2,87 % au deuxième trimestre 2024.
Les actifs totaux ont atteint 6,58 milliards de dollars, en hausse de 1,7 % par rapport au deuxième trimestre 2024. Le portefeuille de prêts a diminué de 0,9 % pour s'établir à 4,0 milliards de dollars, tandis que les dépôts ont augmenté de 1,3 % pour atteindre 5,9 milliards de dollars. La banque maintient son statut de 'bien capitalisé' avec un ratio d'effet de levier Tier 1 de 9,62 %. L'entreprise a déclaré des dividendes en espèces de 30,00 dollars par action de classe A et de 0,20 dollar par action de classe B.
Alpine Banken von Colorado (ALPIB) berichteten im 3. Quartal 2024 von einem Nettogewinn von 13,6 Millionen US-Dollar, mit Erträgen von 127,16 US-Dollar pro Aktie der Klasse A und 0,85 US-Dollar pro Aktie der Klasse B. Zu den wichtigsten Highlights gehören ein Anstieg von 16,8 % beim Basisgewinn pro Aktie für beide Aktienklassen im Vergleich zum 3. Quartal 2023 sowie eine Verbesserung der Nettozinsspanne von 2,87 % im 2. Quartal 2024 auf 2,98 %.
Die Gesamtaktiva beliefen sich auf 6,58 Milliarden US-Dollar, ein Anstieg von 1,7 % im Vergleich zum 2. Quartal 2024. Das Kreditportfolio sank um 0,9 % auf 4,0 Milliarden US-Dollar, während die Einlagen um 1,3 % auf 5,9 Milliarden US-Dollar anstiegen. Die Bank behält ihren Status 'gut kapitalisiert' mit einem Tier-1-Leverage-Verhältnis von 9,62 %. Das Unternehmen erklärte eine Bardividende von 30,00 US-Dollar pro Aktie der Klasse A und 0,20 US-Dollar pro Aktie der Klasse B.
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GLENWOOD SPRINGS, Colo., Nov. 04, 2024 (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 September 30, 2024. The Company reported net income of
Highlights in third quarter 2024 include:
- Basic earnings per Class A common share increased
16.8% , or$18.28 , during third quarter 2024. - Basic earnings per Class A common share increased
16.8% , or$18.30 , compared to third quarter 2023. - Basic earnings per Class B common share increased
16.8% , or$0.12 , during third quarter 2024. - Basic earnings per Class B common share increased
16.8% , or$0.12 , compared to third quarter 2023. - Net interest margin for third quarter 2024 was
2.98% , compared to2.87% in second quarter 2024, and2.87% in third quarter 2023.
“Third quarter 2024 results show a continuation of our improving financial performance,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Alpine successfully grew customer deposit balances, paid down brokered CDs and decreased the cost of our funding during the third quarter. Both our net interest margin and return on assets saw improvements over the first and second quarters of 2024.”
Net Income
Net income for third quarter 2024 and second quarter 2024 was
Net income for the nine months ended September 30, 2024, and September 30, 2023, was
Net interest margin increased from
Assets
Total assets increased
Loans
Loans outstanding as of September 30, 2024, totaled
Loans outstanding as of September 30, 2024, reflected a decrease of
Deposits
Total deposits increased
Total deposits of
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, 2024, the Bank’s Tier 1 Leverage Ratio was
Book value per share on September 30, 2024, was
Each Class A common share is entitled to one vote per share. Except as otherwise provided by the Colorado Business Corporation Act, each Class B common share has no voting rights.
Dividends
Each Class B common share has dividend and distribution rights equal to one-one hundred and fiftieth (1/150th) of such rights of one Class A common share. Therefore, each one Class A common share is equivalent to 150 Class B common shares for purposes of the payment of dividends.
During third quarter 2024, the Company paid cash dividends of
About Alpine Banks of Colorado
Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a
*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 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) 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,” “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 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).
Key Financial Measures 09.30.2024
Consolidated Statements of Income 09.30.2024
Consolidated Statements of Financial Condition 09.30.2024
Consolidated Statements of Comprehensive Income 09.30.2024
Contact:
Eric A. Gardey, Chief Financial Officer
Alpine Banks of Colorado
(970) 384-3257
ericgardey@alpinebank.com
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