Alpine Banks of Colorado announces financial results for third quarter 2026

Alpine Banks of Colorado posts strong Q3 earnings growth and robust capital metrics.

What the company is saying

Alpine Banks of Colorado reports net income of $20.1 million for Q3 2026, up 8.6% from $18.5 million in Q3 2025, attributing the increase primarily to higher interest income from increased loan balances. The company highlights sequential and year-over-year growth in key metrics, including earnings per share at $1.26 and net interest margin at 3.96%. Chairman and CEO Glen Jammaron frames the quarter as a period of meaningful progress, emphasizing both financial performance and leadership team strengthening, with Jay Rickstrew appointed Vice Chairman and President, and Matt Teeters as Chief Retail Officer. Additional management hires include a Chief Information Officer and a Controller, with the stated aim of reinforcing operational and financial controls. The company plans to open a new branch in Littleton, Colorado in spring 2027, positioning this as an extension of its relationship-focused strategy. The tone is confident, with management underscoring disciplined financial management, strong internal controls, and a commitment to shareholder value.

What the data suggests

The disclosed figures show Alpine Banks of Colorado delivering steady financial improvement. Net income rose to $20.1 million in Q3 2026 from $18.5 million a year earlier and $19.9 million in the prior quarter. Basic earnings per share increased to $1.26, up from $1.16 in Q3 2025. Net interest income climbed to $64.3 million, while net interest margin expanded to 3.96%. Interest income reached $84.3 million, with interest expense declining to $20.0 million. Noninterest income was $14.5 million, and noninterest expense increased to $51.9 million, with management citing higher salaries and benefits as a driver. Loans held for investment totaled $4.5 billion, up 6.9% year-over-year, while deposits were stable at $5.9 billion but down 3.0% from the prior year. Credit quality remains strong, with nonperforming loans at 0.34% of total loans and allowance for credit losses at 1.16%. Book value per share increased to $39.21, and tangible book value per share reached $38.10. The company paid and declared dividends of $0.23 per share. Assets under management in the wealth division stood at $1.42 billion. The data supports management's positive narrative, with all key financial and operational metrics disclosed and trending favorably.

Analysis

The announcement is a quarterly financial results release with comprehensive, detailed, and transparent disclosure of all key financial and operational metrics. The majority of claims are realised and supported by specific numerical data, including net income, EPS, margins, capital ratios, credit quality, and dividends. Only a small portion of the release is forward-looking, specifically the plan to open a new branch in Littleton, Colorado in Spring 2027, which is clearly identified as a future initiative and does not dominate the narrative. There is no evidence of exaggerated or promotional language; the tone is positive but proportionate to the reported results. No large capital outlay is paired with long-dated, uncertain returns, and the branch opening is a routine expansion rather than a transformational or high-risk project. The data fully supports the positive tone, and there is no gap between narrative and evidence.

Risk flags

• ●Noninterest expense increased by $5.0 million quarter-over-quarter and $6.1 million year-over-year, driven in part by higher salaries and benefits. If expense growth outpaces revenue gains, future profitability could be pressured.
• ●Deposits declined by $0.2 billion, or 3.0%, year-over-year to $5.9 billion. Sustained deposit outflows could constrain balance sheet growth or force higher funding costs.
• ●Nonperforming loans rose to 0.34% of total loans from 0.21% a year earlier. While still low, further deterioration in credit quality could require higher provisions and impact earnings.

Bottom line

Alpine Banks of Colorado's Q3 2026 results show solid earnings growth, expanding margins, and strong capital ratios, with net income up 8.6% year-over-year and tangible book value per share rising to $38.10. The bank is investing in leadership and operational infrastructure, supporting its narrative of disciplined management and long-term value creation. While expense growth and deposit declines warrant monitoring, credit quality remains robust and capital levels are well above regulatory minimums. The planned Littleton branch opening in spring 2027 offers incremental growth potential but is not a transformative event. Investors should focus on the company's ability to sustain earnings momentum, manage costs, and maintain deposit stability. The most important takeaway is that Alpine is delivering consistent, transparent financial performance with no material red flags in its current trajectory.

Announcement summary

(OTCQX:ALPIB) Alpine Banks of Colorado reported unaudited results for the quarter ended September 30, 2026. Net income for the third quarter of 2026 was $20.1 million, an increase of 8.6% from $18.5 million in the third quarter of 2025, primarily due to higher interest income from increased loan balances. Net income for the second quarter of 2026 was $19.9 million. Basic earnings per Class A and Class B common share for the third quarter of 2026 was $1.26, compared to $1.25 for the second quarter of 2026 and $1.16 for the third quarter of 2025. The cost of interest-bearing deposits for the third quarter of 2026 was 1.74%, compared to 1.75% for the second quarter of 2026 and 2.04% for the third quarter of 2025. Net interest margin was 3.96% for the third quarter of 2026, compared to 3.85% for the second quarter of 2026 and 3.54% for the third quarter of 2025. Nonperforming loans to total loans was 0.34% as of September 30, 2026, compared to 0.31% as of June 30, 2026, and 0.21% as of September 30, 2025. Return on average assets for the third quarter of 2026 was 1.18%, unchanged from the second quarter of 2026 and up from 1.09% in the third quarter of 2025. Tangible book value (non-GAAP) per Class A and Class B common share was $38.10 as of September 30, 2026, compared to $37.59 as of June 30, 2026, and $34.45 as of September 30, 2025. Consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio as of September 30, 2026, were 17.08%, 13.02%, and 10.62%, respectively. Net interest income was $64.3 million for the third quarter of 2026, compared to $61.6 million for the second quarter of 2026 and $56.7 million for the third quarter of 2025. Interest income was $84.3 million for the third quarter of 2026, compared to $82.3 million for the second quarter of 2026 and $80.4 million for the third quarter of 2025. Interest expense was $20.0 million for the third quarter of 2026, compared to $20.7 million for the second quarter of 2026 and $23.7 million for the third quarter of 2025. Noninterest income was $14.5 million for the third quarter of 2026, compared to $13.7 million for both the second quarter of 2026 and the third quarter of 2025. Noninterest expense was $51.9 million for the third quarter of 2026, compared to $46.9 million for the second quarter of 2026 and $45.8 million for the third quarter of 2025. Loans held for investment totaled $4.5 billion as of September 30, 2026, unchanged from June 30, 2026, and up from $4.2 billion as of September 30, 2025. Total loans originated in the third quarter of 2026 were $443.0 million, compared to $458.0 million in the second quarter of 2026 and $340.0 million in the third quarter of 2025. Deposits totaled $5.9 billion as of September 30, 2026, unchanged from June 30, 2026, and down from $6.1 billion as of September 30, 2025. Noninterest-bearing deposits were $1.9 billion as of September 30, 2026, compared to $1.8 billion as of June 30, 2026, and $1.9 billion as of September 30, 2025. The company recorded a provision for credit losses of $2.5 million in the third quarter of 2026, compared to $4.0 million in the second quarter of 2026 and $1.7 million in the third quarter of 2025. The ratio of allowance for credit losses to loans held for investment was 1.16% as of September 30, 2026, compared to 1.14% as of June 30, 2026, and 1.10% as of September 30, 2025. Annualized net charge-offs were 0.04% for the third quarter of 2026, compared to 0.10% for the second quarter of 2026 and 0.07% for the third quarter of 2025. Book value per Class A and Class B common share increased to $39.21 as of September 30, 2026, compared to $38.69 as of June 30, 2026, and $35.56 as of September 30, 2025. During the third quarter ended September 30, 2026, the company paid cash dividends of $0.23 per Class A and Class B common share. On October 8, 2026, the company declared cash dividends of $0.23 per Class A and Class B common share payable on October 26, 2026, to shareholders of record on October 19, 2026. The Alpine Bank Wealth Management division had assets under management of $1.42 billion as of September 30, 2026, compared to $1.45 billion as of June 30, 2026, and $1.35 billion as of September 30, 2025. Glen Jammaron is Chairman and CEO. Jay Rickstrew was appointed Vice Chairman of the Company and President of the Bank. Matt Teeters was appointed Chief Retail Officer of the Bank. The company added a Chief Information Officer and a Controller of the Bank. The company is planning to open a new branch in Littleton, Colorado in the Spring of 2027.

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