Alpine Banks of Colorado announced first-quarter net income of $10.6 million.

That equated to $98.32 per basic class A common share and 66 cents per basic class B common share.

“The first quarter 2024 showed some promising trends for Alpine,” said Glen Jammaron, president and vice chairman of Alpine Banks of Colorado.

“Customer deposit balances increased during the quarter, allowing us to pay down a portion of our brokered deposits,” Jammaron said. “Our customer deposit base grew 5.3 percent in the first quarter 2024 from
$5.17 billion to $5.44 billion. We plan to continue our focus on deposit growth for the remainder of 2024.”

Alpine Banks of Colorado reported its total assets increased 2.6 percent to $6.59 billion as of March 31 compared to Dec. 31, 2023.

Loans outstanding as of March 31 totaled $4 billion. The loan portfolio decreased $16.3 million compared to Dec. 31, 2023.

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