<div id="readability-page-1"><article>GLENWOOD SPRINGS, Colo., May 01, 2026 (GLOBE NEWSWIRE) -- Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the quarter ended March 31, 2026. First Quarter 2026 Highlights <ul type="disc"><li>Net income for the first quarter of 2026 was $20.2 million, compared to $19.8 million for the fourth quarter of 2025 and $14.3 million for the first quarter of 2025.</li><li>Basic earnings per share for the first quarter of 2026 was $1.26, compared to $1.23 for the fourth quarter of 2025 and $0.89 for the first quarter of 2025.</li><li>Average cost of deposits for the first quarter of 2026 was 1.81%, compared to 1.94% for the fourth quarter of 2025 and 2.1% for the first quarter of 2025.</li><li>Net interest margin, on a tax-equivalent basis, was 3.72% for the first quarter of 2026, compared to 3.57% for the fourth quarter of 2025 and 3.38% for the first quarter of 2025.</li><li>Nonperforming loans to total loans were 0.32% as of March 31, 2026, compared to 0.25% as of December 31, 2025 and 0.25% as of March 31, 2025.</li><li>Return on average assets for the first quarter of 2026 was 1.21%, compared to 1.16% for the fourth quarter of 2025 and 0.87% for the first quarter of 2025.</li><li>Tangible book value (non-GAAP) per share was $36.64 as of March 31, 2026, compared to $35.71 as of December 31, 2025 and $31.84 as of March 31, 2025.</li><li>Consolidated total risk-based capital ratio, common equity tier 1 risk-based capital ratio, and tier 1 leverage ratio as of March 31, 2026 were 17.12%, 12.96%, and 10.14%, respectively.</li></ul> “Alpine Bank’s record performance for the first quarter of 2026 marks a significant milestone in a journey that began over 50 years ago,” said Alpine Bank President/CEO and Chairman Glen Jammaron. “What started in 1973 as a single branch in Carbondale with just $250,000 in capital has now grown to a bank with 39 branches throughout Colorado and total assets of more than $6.7 billion.” Jammaron remarked the bank's first quarter 2026 results, characterized by record earnings and expanded margins, are a direct outcome of staying true to those humble beginnings. “By strategically capitalizing on marketplace changes, we have been able to welcome new customers seeking the stability of a local bank while continuing to drive value for our employee-owners and shareholders,” added Jammaron. “As we navigate 2026, we remain a bank that is deeply committed to our communities and that is inspired by the same independent spirit that defined us on day one.” Results of Operations, Quarter Ended March 31, 2026 Net Interest Income Net interest income was $60.6 million for the first quarter of 2026, compared to $59.3 million for the fourth quarter of 2025 and $52.1 million for the first quarter of 2025. Net interest margin, calculated on a tax-equivalent basis, was 3.72% for the first quarter of 2026, compared to 3.57% for the fourth quarter of 2025 and 3.38% for the first quarter of 2025. The average yield on loans was 6.07% for the first quarter of 2026, compared to 6.26% for the fourth quarter of 2025 and 5.95% for the first quarter of 2025. The average cost of deposits was 1.81% for the first quarter of 2026, which is 13 basis points lower than the fourth quarter of 2025 and 29 basis points lower than the first quarter of 2025. Interest income was $81.5 million for the first quarter of 2026, compared to $82.1 million for the fourth quarter of 2025 and $75.1 million for the first quarter of 2025. Interest income decreased $0.6 million in the first quarter of 2026 from the fourth quarter of 2025, primarily due to lower interest received on the Bank’s securities portfolio as the portfolio decreased $19 million. Interest income increased $6.4 million in the first quarter of 2026 compared to the first quarter of 2025. This increase was primarily due to a higher loans receivable balance as well as increased loan yields in 2026 as compared to 2025. Interest expense was $20.8 million for the first quarter of 2026, compared to $22.8 million for the fourth quarter of 2025 and $23.0 million for the first quarter of 2025. Interest expense decreased $2.0 million compared to the fourth quarter of 2025 and decreased $2.2 million compared to the first quarter of 2025. The $2.0 million decrease in the first quarter of 2026 from the fourth quarter of 2025 was primarily a result of the reduction of interest rates paid on deposits and a reduction in the interest rate on our subordinated debt. The $2.2 million decrease in the first quarter of 2026 from the first quarter of 2025 was primarily a result of the reduction of interest rates paid on deposits. Noninterest Income and Noninterest Expense Noninterest income was $17.7 million for the first quarter of 2026, compared to $15.9 million for the fourth quarter of 2025 and $12.5 million for the first quarter of 2025. The $1.8 million increase from the fourth quarter of 2025 was primarily due to profit from the sale of an OREO property held by the bank in the first quarter of 2026 offset by a gain on earnings on life insurance in the fourth quarter of 2025. The $5.3 million increase in noninterest income for the first quarter of 2026 compared to the first quarter of 2025 was primarily due to increased service charges on deposit accounts and profit from the sale of an OREO property held by the bank in the first quarter of 2026. Noninterest expense was $50.4 million for the first quarter of 2026, compared to $49.7 million for the fourth quarter of 2025 and $45.6 million for the first quarter of 2025. The $0.8 million increase from the fourth quarter of 2025 was largely the result of an increase in community support and marketing expenses. The $4.9 million increase in noninterest expense for the first quarter of 2026 compared to the first quarter of 2025 was largely the result of outside consulting services, salaries and benefits and marketing expenses, which were partially offset by a reduction in electronic banking expenses. Loan Portfolio and Composition Loans held for investment were $4.3 billion as of March 31, 2026, compared to $4.3 billion as of December 31, 2025 and $4.1 billion as of March 31, 2025. The increase of $10.8 million, or 1% annualized, during the first quarter of 2026 as compared to the fourth quarter of 2025 was primarily due to an increase in commercial real estate loan balances and offset by a decline in construction loan balances. As of March 31, 2026, loans held for investment increased $226.8 million, or 6%, compared to March 31, 2025 primarily attributable to an increase in 1-4 family residential balances, commercial real estate balances, and revolving line of credit balances offset by a decline in construction loan balances. Deposits and Borrowings Deposits totaled $6.0 billion as of March 31, 2026, compared to $6.0 billion as of December 31, 2025 and $5.9 billion as of March 31, 2025. Deposits decreased $81.7 million, or 1.3%, in the first quarter of 2026 from December 31, 2025. Deposits increased $25.8 million, or 0.4%, as of March 31, 2026 as compared to March 31, 2025. Noninterest-bearing deposits were $1.8 billion as of March 31, 2026, compared to $1.8 billion as of December 31, 2025 and $1.8 billion as of March 31, 2025. Noninterest-bearing deposits represented 30.6% of total deposits as of March 31, 2026. The quarterly change in total deposits was mainly due to seasonal declines in deposit balances during the first quarter coupled with a weak winter season in our resort communities due to lack of snow. Asset Quality The Company recorded a provision for credit losses in the first quarter of 2026 of $3.2 million, compared to $1.8 million in the fourth quarter of 2025 and $1.8 million in the first quarter of 2025. The provision during the first quarter of 2026 was largely attributable to loan charge offs as well as an increase in the allowance for credit losses. The ratio of allowance for credit losses to loans held for investment was 1.12% as of March 31, 2026, compared to 1.10% as of December 31, 2025 and 1.10% as of March 31, 2025. The ratio of nonperforming loans to total loans was 0.32% as of March 31, 2026, compared to 0.25% as of December 31, 2025 and 0.25% as of March 31, 2025. Annualized net charge-offs were 0.19% for the first quarter of 2026, compared to 0.07% for the fourth quarter of 2025 and 0.08% for the first quarter of 2025. Capital Book value per Class A and Class B common share increased to $37.74 on March 31, 2026, compared to $36.82 as of December 31, 2025. The tier 1 leverage ratio (non-GAAP) increased 26 basis points to 10.14% in the first quarter of 2026 as compared to 9.88% as of the fourth quarter of 2025, largely due to an increase in retained earnings. All Class A common share and per share information set forth herein for the periods prior to the third quarter 2025 have been adjusted to reflect the 150-for-1 stock split of the Class A common shares effective on May 1, 2025. Dividends On April 9, 2026, the Company declared cash dividends of $0.23 per Class A and Class B common share payable on April 27, 2026, to shareholders of record on April 20, 2026. Alpine Bank Wealth Management The Alpine Bank Wealth Management division had assets under management of $1.34 billion on March 31, 2026, compared to $1.34 billion on December 31, 2025. About Alpine Banks of Colorado Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.8 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five-star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB&#34; on the OTCQX® Best Market. Learn more at www.alpinebank.com. *Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank. <table><tbody><tr><td>Contacts:</td><td>Glen Jammaron President/CEO and Chairman Alpine Banks of Colorado 2200 Grand Avenue Glenwood Springs, CO 81601 (970) 384-3266</td><td>Mike Burns Chief Financial Officer Alpine Banks of Colorado 2200 Grand Avenue Glenwood Springs, CO 81601 (970) 259-3090</td></tr><tr><td> </td><td> </td><td> </td></tr></tbody></table> A note about forward-looking statements This press release 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,” “would,” “should,” “will,” “estimates,” “looks forward to,” “continues,” “expects” and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements we make regarding our evaluation of macro-environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statement include, but are not limited to: <ul type="disc"><li>The ability to attract new deposits and loans; <ul type="disc"><li>Demand for financial services in our market areas;</li><li>Competitive market-pricing factors; <ul type="disc"><li>Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;</li></ul> </li><li>Effects of future economic, business and market conditions, including higher inflation; <ul type="disc"><li>Adverse effects of public health events, such as the COVID-19 pandemic, including governmental and societal responses;</li></ul> </li><li>Deterioration in economic conditions that could result in increased loan losses; <ul type="disc"><li>Actions by competitors and other market participants that could have an adverse impact on expected performance;</li></ul> </li><li>Risks associated with concentrations in real estate-related loans;</li><li>Risks inherent in making loans, such as repayment risks and fluctuating collateral values;</li><li>Market interest rate volatility, including changes to the federal funds rate;</li><li>Stability of funding sources and continued availability of borrowings; <ul type="disc"><li>Geopolitical events, including global tariffs, acts of war, international hostilities and terrorist activities;</li><li>Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;</li><li>Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;</li><li>Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;</li></ul> </li><li>Any increases in FDIC assessments; <ul type="disc"><li>Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;</li><li>The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;</li><li>Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;</li></ul> </li><li>The ability to recruit and retain key management and staff;</li><li>The ability to raise capital or incur debt on reasonable terms; and</li><li>Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets. </li></ul> </li></ul> There are many factors that could cause actual results to differ materially from those contemplated by forward-looking statements. Any forward-looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Key Financial Measures The attached tables highlight the Company’s key financial measures for the periods indicated (unaudited). Alpine Banks of Colorado Key Financial Measures 03.31.2026 <table><tbody><tr><td>Contact:</td><td>Mike Burns, Chief Financial Officer Alpine Banks of Colorado (970) 259-3090 mikeburns@alpinebank.com</td></tr></tbody></table> <img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RjeE1UWTJOQ00zTlRjM05qa3lJelV3TURBM01UYzFOQT09?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RjeE1UWTJOQ00zTlRjM05qa3lJelV3TURBM01UYzFOQT09"/> <img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/MTc2MmVjYjEtZDY2Yy00NmNjLTg4YjItZTk3ZjA1MWNjOTRkLTUwMDA3MTc1NC0yMDI2LTA1LTAxLWVu/tiny/Alpine-Banks-of-Colorado.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1" height="1" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/MTc2MmVjYjEtZDY2Yy00NmNjLTg4YjItZTk3ZjA1MWNjOTRkLTUwMDA3MTc1NC0yMDI2LTA1LTAxLWVu/tiny/Alpine-Banks-of-Colorado.png"/></article></div>

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Alpine Banks of Colorado reported a net income of $20.2 million for Q1 2026, up from $19.8 million in Q4 2025 and $14.3 million in Q1 2025. Basic earnings per share rose to $1.26, while the average cost of deposits decreased to 1.81%. The net interest margin improved to 3.72%. Nonperforming loans increased slightly to 0.32%. The bank's total assets exceeded $6.7 billion, reflecting strong performance and commitment to community values, according to President/CEO Glen Jammaron.

Alpine Banks of Colorado announces financial results for first quarter 2026 | ALPIB Stock News