ALPINE BKS COLO - ALPIB STOCK NEWS

Alpine Bank celebrates its 50th anniversary with the appointment of Alison Vollbracht Winfield to the board of directors. Sworn in January 2023, Alison has extensive experience in business and nonprofit leadership. She is the daughter of the late William Vollbracht, one of the bank's founders. Alison has served in various roles, including operations manager at the University of Washington’s Haring Center for Inclusive Education. The bank, founded in 1973, operates as an independent, employee-owned organization with assets of $6.3 billion and a 5-star rating from BauerFinancial. Shares trade under the symbol ALPIB on the OTCQX® Best Market.

Alpine Banks of Colorado (OTCQX: ALPIB) reported its fourth quarter and annual results for 2022, showing a net income of $20.7 million for Q4, and $73.4 million for the year. Basic earnings per Class A share decreased 9.2% in Q4 but increased 20.0% for the year. Loan growth was 4.1% in Q4 and 15.0% for the year, with total loans reaching $3.9 billion. The net interest margin improved to 3.69% in Q4 2022 compared to 3.49% in Q3 2022. Total assets rose to $6.3 billion. Total deposits decreased by 2.6% in Q4 but saw only a 1.6% annual decline. The company continues to maintain a strong capital position.

Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.20 per Class B nonvoting common share, to be paid on January 30, 2023. Shareholders of record by January 23, 2023 will receive this payment. The dividend reflects an increase of 11.1% from the previous quarter. Additionally, a $30.00 dividend for Class A voting common shares will also be distributed, although these shares are not publicly traded. The bank continues to operate as a strong, independent entity with a $6.3 billion asset base.

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.

Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $22.4 million for Q3 2022, translating to $208.49 per Class A share and $1.39 per Class B share. The bank experienced a 21.6% increase in earnings per Class A share compared to the previous Q3. Loan growth reached 3.8% in Q3 and 13.8% year-over-year. Total deposits rose by 2.7% to $5.7 billion. Despite challenges in noninterest income and capital valuations, the bank remains wells capitalized with solid financial health and expansion plans underway.

Alpine Banks of Colorado (OTCQX: ALPIB) has declared a quarterly cash dividend of $0.18 per Class B nonvoting common share, to be paid on October 31, 2022. Shareholders of record as of October 24, 2022 will be eligible. This dividend is consistent with the previous quarter's payout. Additionally, a $27.00 dividend per Class A voting common share will also be paid, though these shares are not publicly traded. Alpine Banks is a $6.1 billion organization with over 800 employees serving 160,000 customers across Colorado.

Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $17.5 million for Q2 2022, translating to $171.52 per Class A share and $1.14 per Class B share. This reflects a 38.4% increase in earnings per Class A share compared to Q2 2021. Organic loan growth reached 6.6%, totaling $222.3 million during the quarter. Notably, the net interest margin rose from 2.87% to 3.31%. However, total assets decreased by 1.6% to $6.1 billion from Q1 2022, primarily due to a reduction in cash and deposits.

Alpine Banks of Colorado (OTCQX: ALPIB) announced a successful private placement, raising $34 million by selling 1,192,983 shares of its Class B nonvoting common stock at $28.50 per share. The capital will support organic growth and enhance regulatory capital ratios. President Glen Jammaron expressed optimism about the offering's support in the current market environment. D.A. Davidson & Co. acted as financial advisor for the placement. The new funds aim to bolster the bank's operations and community engagement as it celebrates nearly 50 years in service.

Alpine Banks of Colorado (OTCQX: ALPIB) has announced a quarterly cash dividend of $0.18 per Class B nonvoting common share, payable on August 1, 2022, to shareholders of record by July 25, 2022. This dividend matches the amount from the previous quarter. Additionally, a dividend of $27.00 per Class A voting common share will also be paid on the same date, although these shares are not publicly traded. Alpine Banks operates as a $6.2 billion employee-owned organization with a robust customer base in Colorado.