Alpine Bank earnings rose in the third quarter of 2026, with parent company Alpine Banks of Colorado reporting net income of $20.1 million, up 8.6% from $18.5 million a year earlier. The company attributed the increase primarily to higher interest income from increased loan balances.

Key Takeaways

  • Net interest margin widened to 3.96% from 3.54% a year earlier.
  • Noninterest expenses rose to $51.9 million, partly because of higher salaries, benefits and other expenses.
  • The company plans to open a branch in Littleton, Colorado, in spring 2027.

Alpine Bank earnings and interest income

The Glenwood Springs, Colorado-based holding company reported unaudited results on October 28 for the quarter ended September 30. Basic earnings per Class A and Class B common share were $1.26, compared with $1.16 in the third quarter of 2025.

Net interest income rose to $64.3 million from $56.7 million a year earlier. Interest income increased to $84.3 million from $80.4 million, while interest expense fell to $20.0 million from $23.7 million. The company said the decline in interest expense was primarily due to lower interest paid on deposit accounts.

Noninterest income increased to $14.5 million from $13.7 million. Noninterest expense rose from $45.8 million to $51.9 million, an increase the company said was partly due to higher salaries, benefits and other expenses.

Loans, deposits and credit quality

Loans held for investment totaled $4.5 billion at September 30, up from $4.2 billion a year earlier. Deposits were $5.9 billion, down from $6.1 billion a year earlier but unchanged from June 30.

Nonperforming loans represented 0.34% of total loans at September 30, compared with 0.21% a year earlier. The provision for credit losses was $2.5 million for the quarter, up from $1.7 million in the third quarter of 2025.

Leadership changes and expansion

In September, Alpine announced senior leadership changes that made Jay Rickstrew president and vice chairman of the holding company and president of Alpine Bank. Matt Teeters became the bank’s chief retail officer. Glen Jammaron continues as chairman and CEO.

The company also declared a $0.23 cash dividend per Class A and Class B common share on October 8, payable October 26 to shareholders of record on October 19.

Next milestone

The next planned expansion is the Littleton branch, which Alpine expects to open in spring 2027.

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