Alpine Banks Colorado · OTC:ALPIB
Alpine Banks Colorado — Alpine Banks of Colorado — Investor Presentation (March 2025)
36 slides from Alpine Banks Colorado's investor presentation, March 2025
Slide 1: 1st Quarter 2025 Investor Presentation
1st Quarter 2025 Investor Presentation
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation 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,”
Slide 3: Alpine Banks of Colorado
Alpine Banks of Colorado Alpine Banks of Colorado Headquarters Glenwood Springs, Colorado 3
Slide 4: Alpine Banks of Colorado Summary Information
Alpine Banks of Colorado Summary Information (unaudited) Founded 1973 Ticker ALPIB Total Assets $6.66 Billion Total Deposits $5.94 Billion Gross Loans $4.14 Billion Employees 846 Locations 39 ROA 0.86% ROE 11.22% Source: Bank holding company regulatory report for the quarter ended 3/31/25 4
Slide 5: Financial Ratios for the Quarter ended 3/31/25
Financial Ratios for the Quarter ended 3/31/25 (unaudited) Net Income Growth 35.02% Annualized Deposit Growth 8.22% Annualized Loan Growth 6.89% Efficiency Ratio 70.54% Net Interest Margin (TE) 3.33% NPA's to Total Assets 0.49% Total Risk Based Capital 15.92% Source: Bank holding company regulatory
Slide 6: Stock Information and Employee Ownership
Alpine Banks of Colorado Stock Information as of 5/1/25 • Class B Voting Common Stock – One vote per share – Traded on OTCQX® Best Market – Ticker: ALPIB – 8,205,218 shares outstanding • Class A Voting Common Stock – 20 votes per share – Not publicly trade – Class A shares have 95% of voting control
Slide 7: Vision, Mission and Values
Vision, Mission and Values Vision “Alpine Bank will be the preferred financial services provider for individuals and businesses in the communities we serve in Colorado.” Mission “To help our customers, employees, shareholders and community members achieve their dreams.” Values Independence Integrity
Slide 8: Executive Leadership
Executive Leadership Name Title Tenure at Alpine J. Robert Young Founder and Chairman 52 Years Glen Jammaron President and Vice Chairman 40 Years Glenn Davis Chief Development Officer 36 Years Eric A. Gardey Chief Financial Officer 35 Years Jay Rickstrew Chief Retail Officer 30 Years Andrew Karow Ch
Slide 9: Board of Directors
Board of Directors Raymond T. Baker Glen Jammaron Owner, Real Estate Management Firm Vice Chairman and President Stephen Briggs Andrew Karow Former Banking Executive Chief Operations Officer Linda Childears Thomas H. Kenning Retired President & CEO – Daniels Fund Former Banking Executive Glenn Davis
Slide 10: Branch Network
pe ee Branch Network -Fort Collins EY Q + Steamboat Springs Boulder EY Glenwood Springs (*) Glenwood “Edwards conme aA EXD -wi "C3 Qa Union Station gQ New (Castle tage EY EY Ca maces oA A EY. Battlement Mesa cote eI won) ED - Breckenridge urora Fruita EQ. Basalt Q Snowmass Village» AABC + Grand Junc
Slide 11: Community Involvement
Community Involvement • Loyalty Debit Card Program – Debit card program benefits local organizations supporting the community – Ten cents per transaction donated to the program – Over $2.5 million donated to the program in 2024 • Other Donations – $3.3 million donated in 2024 above and beyond the Lo
Slide 12: 52 Years of Philanthropy
pe ee 52 Years of Philanthropy
Slide 13: Environmental Initiatives
Environmental Initiatives • ISO Certification – International Organization for Standardization (ISO) 14001 certification for environmental management since 2006 • Green Team – Grassroots employee‐driven initiative started in 2005 to improve environmental practices – The bank was awarded at the Gold‐
Slide 14: Focus on Customer Service
Focus on Customer Service • CARE – Connect, Ask Questions, Recommend, Exceed – Our commitment to deliver exceptional service and solutions that enhance our customers’ experience • Net Promoter Score – Net Promoter Score measures percentage of customers that would recommend a brand – Alpine Bank’s Ne
Slide 15: Key Differentiators
Key Differentiators • Core Deposit Base • Diversified Loan Portfolio • De Novo Market Expansion • Talent Development • Operational Efficiency • Noninterest Income 15
Slide 16: Core Deposit Base
Other Certificates of Deposit Core Deposit Base Brokered CD's 3% 3% Cost of Interest‐Bearing Deposits 3.50% 3.00% 2.54% Certificates of 2.50% 2.07% Deposit >= 1.76% 2.00% $100,000 1.50% 8% 1.00% Non‐Interest Bearing 0.50% 0.09% 0.04% 0.09% Checking 0.00% 31% 2020 2021 2022 2023 2024 Mar‐25 Alpine Ba
Slide 17: Colorado Deposit Market Share
Colorado Deposit Market Share Statewide (as of June 30, 2024) State Colorado Deposits Market Name (Headquarters) Offices ($000) Share 1 Wells Fargo Bank, N.A. SD 120 33,985,651 18.58% 2 Firstbank CO 84 22,271,908 12.17% 3 JPMorgan Chase Bank, N.A. OH 108 22,254,319 12.16% 4 U.S. Bank N.A. OH 104 20,
Slide 18: Diversified Loan Portfolio
Diversified Loan Portfolio Yield on Loans and Leases (TE) 7.00% 6.50% 5.92% 5.89% 6.00% 5.54% 5.50% Nonfarm 4.79% 4.71% 5.00% 4.64% nonresidential 30% 4.50% 4.00% 1 ‐ 4 Family 2020 2021 2022 2023 2024 Mar‐25 45% Alpine Banks of Colorado Peer Loans Held for Resale 0% Farmland • 45% of loans are 1 to
Slide 19: Loan Portfolio Segmentation
Loan Portfolio Segmentation COMMERCIAL REAL ESTATE Other Hotel/Motel Health Care 1 ‐ 4 FAMILY REAL ESTATE Industrial Other Warehouse Retail Home Equity Loan Office In House CONSTRUCTION AND LAND Mortgage DEVELOPMENT Home Equity Product Land Line Development End User Land Loans Fractional Unit Specul
Slide 20: De Novo Market Expansion
De Novo Market Expansion • Entered the Front Range market in 2014 with our Union Station Branch • We now have 7 branch locations in Front Range of Colorado • Colorado Springs and Fort Collins branches opened in the 4th Quarter 2022 • Branch in Aurora, Colorado opened on October 15, 2024 • Proactivel
Slide 21: Talent Development
Talent Development • Officer Trainees – 50‐year history of hiring and training our own officer staff – One‐year training program for recent college graduates – 13 Officer Trainees hired in 2022, 15 hired in 2023 and 4 in 2024 • Leadership Development – In‐house, comprehensive Leadership Training Pro
Slide 22: Operational Efficiency
Operational Efficiency Efficiency Ratio 80.00% 75.00% 73.73% • Efficiency Ratio has been 69.94% 70.54% 70.00% 64.39% 63.92% negatively impacted by 65.00% 60.00% 61.00% lowered NIM • Assets per Employee 55.00% 2020 2021 2022 2023 2024 Mar‐25 Alpine Banks of Colorado Peer generally improving over Aver
Slide 23: Noninterest Income
Noninterest Income • Wealth Management – 28.25 employees working in Wealth Management as of 3/31/25 – Assets under management of $1.32 billion as of 3/31/25 – Revenue for the year ended 12/31/22 was $4,584,000 – Revenue for the year ended 12/31/23 was $4,575,000 – Revenue for the year ended 12/31/24
Slide 24: Financial Information
Financial Information Alpine Bank, Fort Collins Alpine Bank, Colorado Springs 24
Slide 25: Shareholder Returns
Shareholder Returns Class B Shares Earnings Per Share $5.00 $4.00 $3.86 $4.64 $3.51 • Historically increasing $3.28 $3.00 $3.09 dividends prior to $2.00 $0.89 COVID $1.00 $‐ 2020 2021 2022 2023 2024 Mar‐25 • January 2025 dividend increased to $0.21 per $1.00 Dividends Per Share share • As of 3/31/20
Slide 26: Tangible Book Value
Tangible Book Value Class B Shares Tangible Book Value Per Share • 8.1% CAGR in Tangible Book $35.00 $30.48 $31.84 $30.00 $27.74 $26.01 $24.86 $25.00 $20.00 $23.20 Value Per Share in the period $15.00 2020 to 2024 • July 2022 capital raise was $10.00 $5.00 $‐ 2020 2021 2022 2023 2024 Mar‐25 accretiv
Slide 27: Trading Volume
Trading Volume Monthly Trading Volume in Shares Monthly Trading Volume in Dollars 140,000 $4,000,000 120,000 $3,500,000 $3,000,000 100,000 $2,500,000 80,000 $2,000,000 60,000 $1,500,000 40,000 $1,000,000 20,000 $500,000 ‐ $‐ Apr‐20 Apr‐21 Apr‐22 Apr‐23 Apr‐24 Apr‐20 Apr‐21 Apr‐22 Apr‐23 Apr‐24 Jan‐2
Slide 28: Earnings Growth History
Earnings Growth History Return on Assets (ROA) 1.40% 1.13% 1.16% • Historically 1.20% 1.00% 1.03% 0.87% 0.75% 0.86% outperformed peer 0.80% 0.60% group in both ROA and 0.40% 0.20% ROE 0.00% 2020 2021 2022 2023 Alpine Banks of Colorado 2024 Peer Mar‐25 • ROA negatively Return on Equity (ROE) impacted
Slide 29: Net Income 5 Year Growth
Net Income 5 Year Growth $80,000 $350,000 $70,000 $300,000 $60,000 $250,000 5 Year Cumulative Earnings $50,000 YTD Earnings (000) $200,000 $40,000 YTD Earnings 5 yr. Cumulative Earnings $150,000 $30,000 $100,000 $20,000 $50,000 $10,000 $0 $0 2020 2021 2022 2023 2024 Mar‐25 ($000) Information as of D
Slide 30: Net Interest Margin (TE)
Net Interest Margin (TE) Net Interest Margin (TE) 4.10% 3.84% 3.90% 3.70% • Net Interest Margin (NIM) 3.45% 3.50% 3.33% 3.17% 3.21% 3.30% 3.09% 3.10% 2.90% declined as general 2.70% 2.50% 2020 2021 2022 2023 2024 Mar‐25 market rates fell during Alpine Banks of Colorado Peer 2019‐2021 period $250,000
Slide 31: 10 Year Growth Trends
10 Year Growth Trends $7,000,000 $6,000,000 Assets $5,000,000 Deposits $4,000,000 Loans $3,000,000 $2,000,000 $1,000,000 $0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Mar‐25 ($000) Information as of December 31 for the year indicated, except 3/31/25 Source: Bank holding company regulator
Slide 32: Deposit and Loan Growth History
Deposit and Loan Growth History Deposit Growth • Deposits as of 3/31/25 40.00% 36.31% 35.00% 30.00% 25.00% 22.43% include $185 million in 20.00% 15.00% 8.22% brokered CD’s • Excluding the decrease in 10.00% 3.29% 2.13% 5.00% ‐1.59% 0.00% ‐5.00% 2020 2021 2022 2023 2024 Mar‐25 brokered CD’s during 20
Slide 33: Capital Ratios
Capital Ratios Regulatory Capital Ratios • Capital levels in excess 20.00% 15.92% 15.00% 13.69% 12.23% 9.46% 10.00% 10.00% 5.00% 5.00% 6.50% 8.00% of regulatory minimums 0.00% Leverage Capital Common Equity Tier Tier 1 Risk Based Total Risk Based • Increase in capital levels 1 Risk Based Capital Cap
Slide 34: Asset Quality
Asset Quality Allowance for Loan and Lease Losses (ALLL) Percentage • ALLL 0.08% lower than peer group at 1.50% 1.24% 12/31/24 1.14% 1.10% 1.11% 1.10% 1.10% 1.00% • Nonperforming assets at 0.49% as of 3/31/25 related primarily to one OREO 0.50% property 0.00% • Net loan charge‐off ratio of 0.05% for
Slide 35: In Summary
In Summary • A unique culture and brand identity built around community and employee involvement creates our competitive advantage and is highlighted by : – Cost of interest‐bearing deposits of 2.07% for quarter ended 3/31/25. Still an industry leader – Exceptional customer loyalty represented by a
Slide 36: Contact Information
Contact Information Glen Jammaron President & Vice Chairman 970‐384‐3266 glenjammaron@alpinebank.com Eric Gardey Chief Financial Officer 970‐384‐3257 ericgardey@alpinebank.com 36
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