Alpine Banks Colorado · OTC:ALPIB
Alpine Banks Colorado — Alpine Banks of Colorado — Q4 2025 Earnings Presentation
41 slides from Alpine Banks Colorado's earnings presentation, March 2026
Slide 1: 4th Quarter 2025 Investor Presentation
4th 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 $6.85 Billion Total Deposits $6.05 Billion Gross Loans $4.35 Billion Employees 866 Locations 39 ROA 1.04% ROE 12.96% Source: Bank holding company regulatory report for the quarter ending 12/31/25 5
Slide 6: Financial Ratios for the Quarter ending 12/31/25
Financial Ratios for the Quarter ending 12/31/25 (unaudited) Net Income Growth 41.37% YTD Deposit Growth 3.87% YTD Loan Growth 6.94% Efficiency Ratio 66.87% Net Interest Margin (TE) 3.72% NPA's to Total Assets 0.49% Total Risk Based Capital 16.73% Source: Bank holding company regulatory report for t
Slide 7: Alpine Bank Independence Strategic Initiatives
EY Alpine Bank jNDEPENDENCE©_€9.> FINANCIAL REIGNITE CORE PROCESS DISCIPLINE DEPosIT GROWTH IMPROVEMENT Maintain Grow core Business current FTE level deposits 10% Intelligence + Cross sell existin + Develop KPIs Budget adherence customers : ~ Implement Blsystems to ROAin the 35th percentile + Develo
Slide 8: Alpine Bank Independence: High Performing Bank
—& Alpine Ba nk INDEPENDENCE €2 ALPINE BANK WI EMPLOYEE‘ WNED BE AHIGH FINANCIA COLORADO COMPANY PERFORM NG BA Local decision 75th percentile of making peer bank ROA of 1.40% TT between Manage growth to $11B bankand employee success Maintain strong asset quality 7% salary contribution plus Steady lo
Slide 9: Stock Information and Employee Ownership
Alpine Banks of Colorado Stock Information as of 12/31/25 • 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 95% of voting
Slide 10: 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 11: Executive Leadership
Executive Leadership Name Title Tenure at Alpine Glen Jammaron President/CEO and Chairman 40 Years Glenn Davis Chief Development Officer 37 Years Jay Rickstrew Chief Retail Officer 31 Years Andrew Karow Chief Operations Officer 29 Years Rachel Gerlach Chief Credit Officer 28 Years Mike Burns Chief F
Slide 12: Board of Directors
Board of Directors Raymond T. Baker Glen Jammaron Owner, Real Estate Management Firm Chairman and President/CEO 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 13: Branch Network
TNC L_L_——_ Branch Network oS <FortColins EY - Steamboat pings ‘Glenwood Springs Qa Rifle stGlenwood _* Edwar Fis “ee A" QO BONE Om “Cement + New Castle Fag Ny «Denver Tech Center +Avon ine “hu EDrtateomctien ves ED - Breckenridge ora 5 EQ: Basat ES +SnowmassVillage” + AABC +Grand Junction +Mesa Mal
Slide 14: 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 $2.6 million donated to the program in 2025 • Other Donations – $3.2 million donated in 2025 above and beyond the Lo
Slide 15: 52 Years of Philanthropy
TNC L_L_——_ 52 Years of Philanthropy
Slide 16: 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 17: 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 18: Key Differentiators
Key Differentiators • Core Deposit Base • Diversified Loan Portfolio • De Novo Market Expansion • Presence in Strong Markets • Talent Development • Noninterest Income 18
Slide 19: Core Deposit Base
Core Deposit Base Cost of Interest-Bearing Deposits Other Certificates 3.50% 2.97% Brokered CD's of Deposit 3.00% 2.68% 1% 3% 2.50% 2.19% 2.00% 2.54% 2.02% Certificates of 1.50% 1.76% Deposit >= 1.00% 0.62% $100,000 0.51% 0.27% 8% 0.50% 0.09% 0.04% 0.09% 0.00% Non-Interest 2020 2021 2022 2023 2024 2
Slide 20: 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 21: Diversified Loan Portfolio
Diversified Loan Portfolio Yield on Loans and Leases (TE) 7.00% 6.50% 6.23% 6.20% 6.00% 5.80% 6.10% 5.92% 5.50% Nonfarm 5.54% 5.00% 4.79% nonresidential 4.64% 4.71% 31% 4.50% 4.59% 4.28% 4.16% 1 - 4 Family 4.00% Loans 44% 2020 2021 2022 2023 2024 2025 Held for Alpine Banks of Colorado Peer Resale 0%
Slide 22: Loan Portfolio Segmentation
Loan Portfolio Segmentation COMMERCIAL REAL ESTATE Other Hotel/Motel Health Care Industrial Warehouse Retail Office CONSTRUCTION AND LAND DEVELOPMENT Land 1 - 4 FAMILY REAL ESTATE Development End User Land Loans Other Home Equity Loan Speculative Construction In House Cons Owner Mortgage Occ Product
Slide 23: Loan Repricing Schedule
Loan Repricing Schedule FYE ($000s) 2026 2027 2028 Loan Repricing Schedule: Residential Mortgages $286.0 MM $368.7 MM $110.9 MM Weighted Average Yield 5.27% 4.47% 5.49% Owner Occupied Real Estate $96.0 MM $45.7 MM $44.5 MM Weighted Average Yield 6.38% 5.53% 6.09% Non Owner Occupied RE $241.8 MM $112
Slide 24: 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 25: 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 in 2025 • Leadership Development – In-house, comprehensive Leadership
Slide 26: Operational Efficiency
Operational Efficiency 80.00% Efficiency Ratio • Efficiency Ratio had 75.00% 69.94% 73.73% been negatively impacted by lowered 70.00% 66.87% 64.39% 63.92% 65.00% 61.00% NIM 65.78% 64.78% 60.00% 62.95% 61.22% 60.88% 59.79% 55.00% • Efficiency Ratio has 2020 2021 2022 2023 2024 2025 Alpine Banks of Co
Slide 27: Non-Interest Income
Non-Interest Income Non-Interest Income $20,000 $17,846 $18,065 $18,851 • Interchange $18,000 $17,143 – Interchange income increased 10% annually from 2021 through 2025 $16,000 $14,000 • Wealth Management Revenue ($000) $12,000 – 28.25 employees working in Wealth Management as of 12/31/25 $10,000 –
Slide 28: Financial Information
Financial Information Alpine Bank, Fort Collins Alpine Bank, Colorado Springs 28
Slide 29: Share Price
Share Price Class B Shares • As of 12/31/25: – 9.1 times LTM EPS – 1.11 Price/Tangible Book *All share and per share amounts reflect the Company’s 150-for-1 Class B stock split on December 1, 2020 Source: Internal company reports as *Based on OTCQX Prices of 12/31/25 and S&P Global 29
Slide 30: Trading Volume
Trading Volume Monthly Trading Volume in Shares Monthly Trading Volume in Dollars 160,000 $7,000,000 140,000 $6,000,000 120,000 $5,000,000 100,000 $4,000,000 80,000 $3,000,000 60,000 $2,000,000 40,000 20,000 $1,000,000 - $- Apr-20 Apr-21 Apr-22 Apr-23 Apr-24 Apr-25 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24
Slide 31: Shareholder Returns
Shareholder Returns Class B Shares Earnings Per Share $5.00 $4.50 $4.64 $4.38 • Earnings per share increased 42% in 2025 $3.86 $4.00 $3.51 $3.50 $3.28 $3.09 $3.00 • As of 12/31/25: $2.50 $2.00 $1.50 $1.00 $0.50 $- – 2.11% Dividend Yield 2020 2021 2022 2023 2024 2025 Dividends Per Share – 19% Dividen
Slide 32: Tangible Book Value
Tangible Book Value Class B Shares Tangible Book Value Per Share $40.00 $35.00 $35.71 • 6.54% CAGR in Tangible Book $30.00 $26.01 $24.86 $27.74 $30.48 Value Per Share in the period 2021 to 2025 $25.00 $23.20 $20.00 $15.00 • July 2022 capital raise was accretive to Tangible Book $10.00 $5.00 $- 2020
Slide 33: Earnings Growth History
Earnings Growth History Return on Assets (ROA) 1.30% 1.25% 1.18% • Closing gap on ROA performance after NIM 1.20% 1.13% 1.09% 1.10% 1.16% 1.00% 0.95% 0.92% compression in 2023 1.03% 1.04% 0.90% 0.97% 0.80% 0.87% and 2024 0.70% 0.75% 0.60% 0.50% • ROE has consistently 2020 2021 2022 2023 2024 2025 Al
Slide 34: Net Income 5 Year Change
Net Income 5 Year Change $80,000 $350,000 YTD Earnings 5 yr. Cumulative Earnings $70,000 $300,000 $60,000 $250,000 5 Year Cumulative Earnings $50,000 YTD Earnings ($000) $200,000 $40,000 $150,000 $30,000 $100,000 $20,000 $50,000 $10,000 $0 $0 2020 2021 2022 2023 2024 2025 Source: Bank holding compan
Slide 35: Net Interest Margin (TE)
Net Interest Margin (TE) Net Interest Margin (TE) 4.10% 3.95% 3.90% 3.70% 3.72% • Net Interest Margin (NIM) declined as 3.57% 3.50% 3.29% 3.32% 3.54% 3.27% general market rates fell 3.30% 3.34% 3.28% 3.26% 3.10% 3.16% during 2019-2021 3.10% 2.90% 2020 2021 2022 2023 2024 2025 Alpine Banks of Colorad
Slide 36: 10 Year Growth Trends
10 Year Growth Trends $8,000,000 $7,000,000 $6,000,000 Assets $5,000,000 Deposits ($000) $4,000,000 Loans $3,000,000 $2,000,000 $1,000,000 $0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: Bank holding company Information as of December 31 for the year indicated regulatory reports 36
Slide 37: Deposit and Loan Growth History
Deposit and Loan Growth History Annualized Deposit Growth • Deposits as of 12/31/25 40.00% 36.31% 35.00% include $80 million in 30.00% 22.43% 25.00% brokered CD’s 20.00% 15.00% 10.00% • Excluding the decrease in 3.29% 3.87% 5.00% 2.13% -1.59% 0.00% -5.00% 2020 2021 2022 2023 2024 2025 brokered CD’s
Slide 38: Capital Ratios
Capital Ratios Regulatory Capital Ratios • Capital levels in excess 18.00% 16.73% 16.00% 14.01% 14.00% 12.61% of regulatory minimums 12.00% 9.88% 10.00% 10.00% 8.00% 8.00% 6.50% 6.00% 5.00% 4.00% 2.00% • Increase in capital levels with slower asset 0.00% Tier 1 Leverage Ratio Common Equity Tier 1 Ti
Slide 39: Asset Quality
Asset Quality Allowance for Credit Loss (ACL) Percentage 1.40% • ACL 0.15% lower than peer group at 1.20% 1.14% 1.24% 1.10% 1.11% 1.10% 1.10% 12/31/25 1.00% • Nonperforming assets at 0.49% as of 12/31/25 related primarily to one OREO 0.80% 0.60% 0.40% property 0.20% • Net loan charge-off ratio of 0.
Slide 40: 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 2.02% for year ended 12/31/25. Still an industry leader – Exceptional customer loyalty represented by a 20
Slide 41: Contact Information
Contact Information Glen Jammaron President/CEO & Chairman 970-384-3266 glenjammaron@alpinebank.com Mike Burns Chief Financial Officer 970-259-3090 mikeburns@alpinebank.com 41
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