Alpine Banks Colorado · OTC:ALPIB
Alpine Banks Colorado — Alpine Banks of Colorado — Q2 2025 Earnings Presentation
37 slides from Alpine Banks Colorado's earnings presentation, June 2025
Slide 1: 2nd Quarter 2025 Investor Presentation
2nd 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 840 Locations 39 ROA 0.96% ROE 12.23% Source: Bank holding company regulatory report for the quarter ended 6/30/25 5
Slide 6: Financial Ratios for the Quarter ended 6/30/25
Financial Ratios for the Quarter ended 6/30/25 (unaudited) YTD Net Income Growth 43.22% Annualized Deposit Growth 1.72% Annualized Loan Growth 7.68% Efficiency Ratio 68.13% Net Interest Margin (TE) 3.54% NPA's to Total Assets 0.50% Total Risk Based Capital 15.68% Source: Bank holding company regulat
Slide 7: Stock Information as of 6/30/25 and Employee Ownership
Alpine Banks of Colorado Stock Information as of 6/30/25 • 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 contro
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 Financial Officer 35 Years Jay Rickstrew Chief Retail Officer 30 Years Andrew Karow Ch
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 Cost of Interest-Bearing Deposits of Deposit 3% 3% 3.50% 3.00% 2.54% 2.50% 2.07% 1.76% 2.00% Certificates of Deposit >= 1.50% $100,000 1.00% 9% 0.50% 0.09% 0.04% 0.09% Non-Interest Bearing 0.00% Checking 2020 2021 2022 2023 2024 Jun-25 30% Alpine Ba
Slide 18: 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 19: Diversified Loan Portfolio
Diversified Loan Portfolio Yield on Loans and Leases (TE) 7.00% 6.50% 5.92% 5.98% 6.00% 5.54% 5.50% Nonfarm 4.79% 4.71% 5.00% 4.64% nonresidential 31% 4.50% 4.00% 1 - 4 Family 2020 2021 2022 2023 2024 Jun-25 46% Alpine Banks of Colorado Peer Loans Held for Resale 0% Farmland • 46% of loans are 1 to
Slide 20: Loan Portfolio Segmentation
Loan Portfolio Segmentation COMMERCIAL REAL ESTATE Other Hotel/Motel 1 - 4 FAMILY REAL ESTATE Health Care Other Industrial Home Equity Warehouse Loan Retail Office In House Mortgage CONSTRUCTION AND LAND Home Equity Product DEVELOPMENT Line Land Development Fractional Speculative Unit Construction E
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 and 4 in 2024 • Leadership Development – In-house, comprehensive Leadership Training Pro
Slide 23: Operational Efficiency
Operational Efficiency Efficiency Ratio 80.00% 75.00% 73.73% • Efficiency Ratio has been 69.94% 70.00% 64.39% 63.92% 68.13% negatively impacted by 65.00% 60.00% 61.00% lowered NIM 55.00% 2020 2021 2022 2023 2024 Jun-25 • Assets per Employee Alpine Banks of Colorado Peer generally improving over time
Slide 24: Noninterest Income
Noninterest Income • Wealth Management – 28.25 employees working in Wealth Management as of 6/30/25 – Assets under management of $1.35 billion as of 6/30/25 – 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 $5.00 Earnings Per Share $4.64 • Historically increasing $4.00 $3.28 $3.86 $3.51 $3.09 dividends prior to $3.00 $2.00 $1.99 COVID • January 2025 dividend $1.00 $- 2020 2021 2022 2023 2024 Jun-25 increased to $0.21 per $1.00 Dividends Per Share share • As of 6/30/20
Slide 27: Tangible Book Value
Tangible Book Value Class B Shares Tangible Book Value Per Share $35.00 $30.00 $26.01 $27.74 $30.48 $32.87 • 8.1% CAGR in Tangible Book $25.00 $23.20 $24.86 Value Per Share in the period $20.00 $15.00 2020 to 2024 $10.00 $5.00 • July 2022 capital raise was $- accretive to Tangible Book 2020 2021 202
Slide 28: 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 - $- Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 Apr-2
Slide 29: Earnings Growth History
Earnings Growth History Return on Assets (ROA) 1.40% 1.20% 1.13% 1.03% 1.16% • Historically 0.96% 1.00% 0.80% 0.87% 0.75% outperformed peer 0.60% 0.40% group in both ROA and 0.20% 0.00% ROE 2020 2021 2022 2023 Alpine Banks of Colorado 2024 Peer Jun-25 • ROA negatively Return on Equity (ROE) impacted
Slide 30: Net Income 5 Year Growth and Cumulative Earnings
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 Jun-25 ($000) Information as of D
Slide 31: Net Interest Margin (TE)
Net Interest Margin (TE) Net Interest Margin (TE) 4.10% 3.84% 3.90% 3.70% 3.50% 3.45% 3.54% • Net Interest Margin (NIM) 3.17% 3.21% 3.30% 3.10% 3.09% declined as general 2.90% 2.70% 2.50% market rates fell during 2020 2021 2022 2023 Alpine Banks of Colorado Peer 2024 Jun-25 2019-2021 period Annualiz
Slide 32: 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 Jun-25 ($000) Information as of December 31 for the year indicated, except 6/30/25 Source: Bank holding company regulator
Slide 33: Deposit and Loan Growth History
Deposit and Loan Growth History Deposit Growth 40.00% 35.00% 36.31% • Deposits as of 6/30/25 30.00% 25.00% 22.43% include $160 million in 20.00% 15.00% brokered CD’s 10.00% 5.00% -1.59% 3.29% 2.13% 1.72% • Excluding the decrease in 0.00% -5.00% brokered CD’s during 2020 2021 2022 2023 2024 Jun-25 20
Slide 34: Capital Ratios
Capital Ratios Regulatory Capital Ratios 20.00% 13.69% 15.68% • Capital levels in excess 15.00% 12.26% 10.00% 9.63% 6.50% 8.00% 10.00% of regulatory minimums 5.00% • Increase in capital levels 5.00% 0.00% Leverage Capital Common Equity Tier Tier 1 Risk Based Total Risk Based 1 Risk Based Capital Cap
Slide 35: Asset Quality
Asset Quality Allowance for Loan and Lease Losses • ALLL 0.08% lower than peer group at (ALLL) Percentage 12/31/24 1.50% 1.14% 1.24% 1.10% 1.11% 1.10% 1.10% • Nonperforming assets at 0.50% as of 1.00% 6/30/25 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 2.07% for quarter ended 6/30/25. 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 *As of 8/10/2025 Eric Gardey Chief Administration Officer 970-384-3257 ericgardey@alpinebank.com *As of 8/10/2025 Mike Burns Chief Financial Officer 970-259-3090 mikeburns@alpinebank.com 37
Alpine Banks of Colorado — Q2 2025 Earnings Presentation on 6ix