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Alpine Banks of Colorado, symbol ALPIB, is an independent, employee-owned banking organization with a $6.4 billion valuation. Founded in 1973, Alpine Bank operates across Colorado's Western Slope, mountains, and Front Range. With a strong commitment to the community, the bank serves 170,000 customers and employs 843 people, offering personal, business, wealth management, mortgage, and electronic banking services. Alpine Bank prides itself on its 5-star rating from BauerFinancial and trades its Class B nonvoting common stock under the symbol 'ALPIB' on the OTCQX® Best Market.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $13.6 million for Q4 2021 and $59.6 million for the full year, marking significant growth from 2020. The book value per Class A common share rose to $4,072.89, and organic loan growth in 2021 was 10.1%, totaling $304.4 million. Total assets increased to $6.2 billion, a 20.0% rise compared to the previous year. The company's strong performance is attributed to substantial deposit growth of 22.4% and improved asset quality, despite a slight decline in net interest margin from 3.09% to 2.90%.
On January 13, 2022, Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.18 per Class B nonvoting common share, payable on January 31, 2022. Shareholders of record as of January 24, 2022 will receive this dividend. The dividend reflects a 12.5% increase compared to the previous quarter. In addition, a dividend of $27.00 for Class A voting shares has also been declared, although these shares are not publicly traded. Alpine Banks, an employee-owned organization with $6.2 billion in assets, prides itself on financial strength and customer service.
Alpine Banks of Colorado (OTCQX: ALPIB) reported third-quarter 2021 net income of $16.2 million, or $157.90 per Class A share and $1.05 per Class B share. Total assets surpassed $6 billion, reflecting a 19.01% increase year-over-year. Book value per Class A and B shares grew by 3.4% compared to the previous quarter. Core deposits rose by $306.9 million, or 5.9%. However, organic loan growth only increased by 0.6%. Net interest margin decreased to 3.00% from 3.07% quarter-over-quarter, and total loans outstanding declined by 2.2% due to PPP loan forgiveness.
Alpine Banks of Colorado (OTCQX: ALPIB) reported robust third-quarter 2021 results with net income reaching $16.2 million, equivalent to $157.90 per Class A share. Total assets surpassed $6 billion, marking a 19% increase year-over-year. Book value per Class A share rose to $4,009.23, and core deposits grew by 5.9%. However, loan balances fell by 2.2% due to a decrease in commercial loans, attributed to PPP forgiveness. The bank remains well-capitalized with a Tier 1 Risk-Based Capital Ratio at 13.09%.
Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.16 per Class B nonvoting common share, payable on November 1, 2021. Shareholders of record as of October 25, 2021 will receive this dividend, which is unchanged from the previous quarter. The Class A voting shares will also maintain a quarterly dividend of $24.00, reflecting stability in the company's dividend policy. Alpine Banks, which operates a $5.8 billion organization, employs over 790 people, providing a range of banking services across Colorado.
Alpine Banks of Colorado (OTCQX: ALPIB) will host a live presentation by CFO Eric Gardey on September 21, 2021, at 10:30 AM ET, as part of the Virtual Investor Conference series. The event offers an interactive platform for investors to ask questions and will be archived for later viewing. As of June 30, 2021, the bank reported total assets of $5.8 billion, a year-to-date ROA of 1.09%, and a YTD ROE of 15.49%. Interested parties are encouraged to pre-register for the event.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $15.7 million for Q2 2021, or $152.16 per Class A share. This marks an increase from $14.1 million in Q1 2021. Key achievements include 2.5% loan growth and 2.8% deposit growth during the quarter. However, interest income decreased by $1.9 million due to lower yields. Total assets reached $5.8 billion, up 2.6% from Q1 2021. Dividends were maintained at $24.00 per Class A and $0.16 per Class B share. The bank is well-capitalized with strong ratios.
Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.16 per Class B nonvoting common share, payable on July 26, 2021, to shareholders of record by July 19, 2021. This dividend remains unchanged from the previous quarter. Additionally, a cash dividend of $24.00 per Class A voting common share will also be paid on the same date to its shareholders. The bank, founded in 1973, has over $5.6 billion in assets and employs more than 800 people across Colorado.
Alpine Banks of Colorado (OTCQX: ALPIB) reported a net income of $14.1 million for Q1 2021, with basic Class A and Class B earnings per share at $136.60 and $0.91, respectively. Key achievements included a 2.6% increase in book value per Class A share to $3,746.01 and a 10.1% growth in deposits, totaling $5.0 billion. Loans increased 3.5% to $3.3 billion, driven by commercial and residential lending. The bank remains well-capitalized with Tier 1 capital ratios above requirements. Dividends of $24.00 per Class A share were paid, reflecting solid financial performance.
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