Alpine Banks Colorado · OTC:ALPIB
Alpine Banks Colorado — Alpine Banks of Colorado — Q3 2025 Earnings Presentation
37 slides from Alpine Banks Colorado's earnings presentation, Nov 25, 2025
Slide 1: 3rd Quarter 2025 Investor Presentation
3rd 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: History
History 1970 1980 1990 2000 2010 2020 •1973: Alpine •1983: Alpine •1998: •2006: Alpine •2011: Bob •2020: Bank is Banks of Formation of Bank completes Young inducted Announces 150- founded in Colorado Alpine Trust acquisition of into the for-1 stock split Carbondale by Employee and Asset First Nation
Slide 5: Alpine Banks of Colorado Summary Information
Alpine Banks of Colorado Summary Information (unaudited) Founded 1973 Ticker ALPIB Total Assets $6.60 Billion Total Deposits $5.87 Billion Gross Loans $4.23 Billion Employees 845 Locations 39 ROA 1.00% ROE 12.67% Source: Bank holding company regulatory report for the quarter ending 9/30/25 5
Slide 6: Financial Ratios for the Quarter ending 9/30/25
Financial Ratios for the Quarter ending 9/30/25 (unaudited) YTD Net Income Growth 40.61% Annualized Deposit Growth 5.38% Annualized Loan Growth 6.13% Efficiency Ratio 67.12% Net Interest Margin (TE) 3.59% NPA's to Total Assets 0.47% Total Risk Based Capital 15.92% Source: Bank holding company regula
Slide 7: Stock Information as of 9/30/25 and Employee Ownership
Alpine Banks of Colorado Stock Information as of 9/30/25 • Class B Voting Common Stock – One vote per share – Traded on OTCQX® Best Market – Ticker: ALPIB – 8,146,518 shares outstanding • Class A Voting Common Stock – Twenty votes per share – Not publicly traded – Class A shares have 94.8% of voting
Slide 8: 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 9: 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 37 Years Eric A. Gardey Chief Administration Officer 36 Years Jay Rickstrew Chief Retail Officer 31 Years Andrew Kar
Slide 10: 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 11: Branch Network
—_— a_i Branch Network +FortColins EY + Steamboat Springs Glenwood Springs qQ Rifle CGlemwpod “Edwards ES A OB O BOG Om ——oemce + New Castle tage EY + Denver Tech Center g ia) Avon @D - Breckenri + Aurora EQ tatenenten ES > - vais EY - Breckenridge ES +SnowmassVillage’” + AABC + Grand Junction +Mesa
Slide 12: 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 13: 52 Years of Philanthropy
—_— a_i 52 Years of Philanthropy
Slide 14: Environmental Initiatives
Environmental Initiatives • Green Team – Grassroots employee-driven initiative started in 2005 to improve environmental practices – The bank was awarded at the Gold-Level with the Green Business Network • Renewable Energy – All electricity generated from renewable sources or offset by Renewable Ener
Slide 15: 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 16: Key Differentiators
Key Differentiators • Core Deposit Base • Diversified Loan Portfolio • De Novo Market Expansion • Talent Development • Noninterest Income 16
Slide 17: Core Deposit Base
Core Deposit Base Other Certificates Brokered CD's of Deposit 3% Cost of Interest-Bearing Deposits 3% 3.50% 3.00% 2.54% 2.50% 2.06% 1.76% 2.00% Certificates of Deposit >= 1.50% $100,000 1.00% 8% 0.50% 0.09% 0.09% 0.04% Non-Interest Bearing 0.00% Checking 2020 2021 2022 2023 2024 Sep-25 32% Alpine Ba
Slide 18: Colorado Deposit Market Share
Colorado Deposit Market Share Statewide (as of June 30, 2025) State Colorado Deposits Market Name (Headquarters) Offices ($000) Share 1 Wells Fargo Bank, N.A. SD 120 32,653,285 18.13% 2 FirstBank CO 82 22,201,456 12.33% 3 JPMorgan Chase Bank, N.A. OH 105 22,125,162 12.29% 4 U.S. Bank N.A. OH 103 17,
Slide 19: Diversified Loan Portfolio
Diversified Loan Portfolio Yield on Loans and Leases (TE) 7.00% 6.50% 6.06% 5.92% 6.00% 5.54% 5.50% Nonfarm nonresidential 5.00% 4.79% 4.71% 4.64% 32% 4.50% 1 - 4 Family 4.00% 45% 2020 2021 2022 2023 2024 Sep-25 Loans Held for Alpine Banks of Colorado Peer Resale 0% Farmland • 45% of loans are 1 to
Slide 20: Loan Portfolio Segmentation
Loan Portfolio Segmentation COMMERCIAL REAL ESTATE Other Hotel/Motel Health Care Industrial Warehouse Retail Office CONSTRUCTION AND LAND DEVELOPMENT 1 - 4 FAMILY REAL ESTATE Land Development Other End User Land Home Equity Loans Loan Speculative Construction In House Mortgage Product Home Equity Co
Slide 21: 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 22: 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, 4 in 2024 and 10 through 9/30/25 • Leadership Development – In-house, comprehensive Lea
Slide 23: Operational Efficiency
Operational Efficiency Efficiency Ratio 80.00% 73.73% • Efficiency Ratio has been 75.00% 70.00% 69.94% 67.12% negatively impacted by 64.39% 63.92% 65.00% 60.00% 61.00% lowered NIM 55.00% 2020 2021 2022 2023 2024 Sep-25 • Assets per Employee Alpine Banks of Colorado Peer improving over time Average A
Slide 24: Noninterest Income
Noninterest Income • Wealth Management – 28.25 employees working in Wealth Management as of 9/30/25 – Assets under management of $1.35 billion as of 9/30/25 – 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 25: Financial Information
Financial Information Alpine Bank, Fort Collins Alpine Bank, Colorado Springs 25
Slide 26: Shareholder Returns
Shareholder Returns Class B Shares • Historically increasing Earnings Per Share $5.00 $4.64 $4.00 $3.28 $3.86 $3.51 $3.09 $3.15 dividends prior to $3.00 $2.00 COVID $1.00 $- • January 2025 dividend 2020 2021 2022 2023 2024 Sep-25 increased to $0.21 per $1.00 Dividends Per Share share • As of 9/30/20
Slide 27: Tangible Book Value
Tangible Book Value Class B Shares Tangible Book Value Per Share $40.00 $35.00 $30.48 $34.45 • 8.1% CAGR in Tangible Book $30.00 $23.20 $26.01 $24.86 $27.74 Value Per Share in the period $25.00 $20.00 2020 to 2024 $15.00 $10.00 • July 2022 capital raise was $5.00 accretive to Tangible Book $- 2020 2
Slide 28: Trading Volume
Trading Volume Monthly Trading Volume in Shares Monthly Trading Volume in Dollars 160,000 $5,000,000 140,000 $4,500,000 $4,000,000 120,000 $3,500,000 100,000 $3,000,000 80,000 $2,500,000 60,000 $2,000,000 $1,500,000 40,000 $1,000,000 20,000 $500,000 - $- Jul-24 Jul-23 Jul-20 Jul-21 Jul-22 Jul-23 Jul
Slide 29: Earnings Growth History
Earnings Growth History • Historically Return on Assets (ROA) 1.40% 1.13% 1.16% 1.20% 1.00% 1.03% 0.87% 1.00% outperformed peer 0.75% 0.80% 0.60% group in both ROA and 0.40% 0.20% ROE 0.00% 2020 2021 2022 2023 2024 Sep-25 • ROA negatively Alpine Banks of Colorado Peer impacted by NIM 20.00% Return o
Slide 30: 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 Sep-25 ($000) Source: Bank holdin
Slide 31: Net Interest Margin (TE)
Net Interest Margin (TE) Net Interest Margin (TE) 4.10% 3.84% • Net Interest Margin 3.90% 3.59% 3.70% 3.45% 3.50% 3.21% 3.30% 3.10% 3.17% 3.09% (NIM) declined as 2.90% 2.70% 2.50% general market rates fell 2020 2021 2022 2023 Alpine Banks of Colorado 2024 Peer Sep-25 during 2019-2021 period Annualiz
Slide 32: 10 Year Growth Trends
10 Year Growth Trends $8,000,000 $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 Sep-25 ($000) Source: Bank holding company Information as of December 31 for the year indicated, except 9/30/2
Slide 33: Deposit and Loan Growth History
Deposit and Loan Growth History Annualized Deposit Growth 40.00% 35.00% 36.31% • Deposits as of 9/30/25 30.00% 25.00% 22.43% include $159.9 million in 20.00% 15.00% brokered CD’s 10.00% 5.00% -1.59% 3.29% 2.13% 5.38% • Excluding the decrease in 0.00% -5.00% brokered CD’s during 2020 2021 2022 2023 2
Slide 34: Capital Ratios
Capital Ratios Regulatory Capital Ratios 20.00% 13.92% 15.92% • Capital levels in excess 15.00% of regulatory minimums 12.49% 9.75% 10.00% 10.00% 8.00% 6.50% 5.00% 5.00% • Increase in capital levels 0.00% Leverage Ratio Common Equity Tier Tier 1 Risk Based 1 Risk Based Capital Total Risk Based Capit
Slide 35: Asset Quality
Asset Quality Allowance for Loan and Lease Losses (ALLL) Percentage • ALLL 0.08% lower than peer group at 1.50% 12/31/24 1.24% 1.14% 1.10% 1.11% 1.10% 1.10% • Nonperforming assets at 0.47% as of 1.00% 9/30/25 related primarily to one OREO 0.50% property 0.00% • Net loan charge-off ratio of 0.05% for
Slide 36: 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 2.06% for quarter ended 9/30/25. Still an industry leader – Exceptional customer loyalty represented by a
Slide 37: Contact Information
Contact Information Glen Jammaron President & Vice Chairman 970-384-3266 glenjammaron@alpinebank.com Eric Gardey Chief Administration Officer 970-384-3257 ericgardey@alpinebank.com Mike Burns Chief Financial Officer 970-259-3090 mikeburns@alpinebank.com 37
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