Alpine Banks of Colorado announced second quarter net income of $11.7 million.

That equated to $108.89 per basic class A common share and 73 cents per basic class B common share.

“Our second quarter results reflect continued improvement in our balance sheet position,” said Glen Jammaron, president and vice chairman of Alpine Banks of Colorado. “During the quarter we increased our loan portfolio and successfully reduced the level of brokered deposits in our liability mix. For the remainder of 2024 we plan to focus on loan and deposit growth while retaining pricing discipline.”

Alpine Banks of Colorado reported its total assets decreased $114.2 million, or 1.7 percent, to $6.47 billion as of June 30 compared to March 31. Loans outstanding as of June 30 totaled $4.1 billion. The loan portfolio increased $37.5 million compared to March 31.

Deposits decreased $117.9 million, or 2 percent, to $5.8 billion during the second quarter compared to March 31 with decreases in demand deposits, certificates of deposit, savings accounts and interest-bearing checking accounts. Deposits in money market accounts increased.

A $6.5 billion, employee-owned organization headquartered in Glenwood Springs, Alpine Bank operates locations across Colorado. For additional information, visit www.alpinebank.com.