Statement of Condition

STATEMENT
OF CONDITION
December 31, 2015
Rev.
02/2016
BOARD OF DIRECTORS
Raymond T. Baker
Owner, Real Estate Management Firm
Stephen Briggs
Regional President, Roaring Fork Valley
John W. Cooper
Marketing & Leadership Consultant
Wally Dallenbach
Professional Motor Racing Executive
Glenn Davis
Chief Retail Officer
Terry Farina
Attorney at Law
Norm Franke
Regional President, Denver Region
L. Kristine Gardner
Chief Administration Officer
Peter N. Guy
Investments
Glen Jammaron
Vice Chairman/President, Alpine Banks of Colorado
Thomas H. Kenning
Chief Operations Officer
Stan Kornasiewicz
Investment Consultant
Steve Parker
Colorado Banking Leader
R. Bruce Robinson
Former Banking Executive
Joe Scofield
Regional President, Loss Mitigation
CHAIRMAN’S MESSAGE
December 31, 2015
As we conclude 42 years of operation, we are
pleased to report another year of positive
growth. Deposits increased more than 12
percent, while loans enjoyed growth of nearly 16
percent. This was followed by an increase in new
accounts totaling over 7,000 for the year.
In 2015, we opened our second Denver
market location in the popular Cherry Creek
area. This new market continues to exceed our
expectations. As a result of two early successes in
Denver, we have entered into a contract for a
third Alpine Bank location to open in the
southeast Denver area in 2017.
Our outside consulting firm, Sheshunoff &
Company, prepares quarterly, independent
appraisals of Alpine Bank’s ‘A’ and ‘B’ shares for
the Employee Stock Ownership Plan. Their
valuation on December 31, 2015, was $3,039
per share for both classes of stock. This is a 13.6
percent increase over year-end 2014.
Our thanks to 130,000 loyal customers and
our outstanding staff and management for your
continued loyalty and unparalleled community
support.
Sincerely yours,
H. David Scruby
Former Banking Executive
Rodney E. Slifer
Vail Realtor
William B. Vollbracht
Title Company Executive
J. Robert Young
Chairman, Alpine Banks of Colorado
Margo Young-Gardey
Chief Lending Officer
J. Robert Young
Chairman
ALPINE BANKS OF COLORADO
TOTAL ASSETS
Twelve Months Ended December 31, 2015
(Unaudited)
(In Thousands)
2015
2014
(Dollars in thousands except per share data)
Interest income
Interest expense
Net interest income
$
Provision for loan losses
Net interest income after
provision for loan losses
Other income
Other expense
Income before
income taxes
Income taxes
Net income
Per common share:
Net income
Shareholders’ equity
$
Investment Assets
under Management
93,891
5,799
88,092
-4,013
-3,705
100,069
29,860
92,737
91,797
24,355
81,909
37,192
9,568
34,243
8,705
27,624 $
25,538
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
12/31/2013
12/31/2014
12/31/2015
TOTAL LOANS
(In Thousands)
$
260.91 $ 241.21
1,827.29
2,010.48
105,874
Shares outstanding
At December 31:
Total assets
Investment securities
Loans, gross
Deposits
Shareholders’ equity
100,773 $
4,717
96,056
$3,000,000
105,874
$2,000,000
$1,500,000
$1,000,000
$ 2,774,490 $ 2,483,846
566,763
617,434
1,811,592 1,565,542
2,435,396 2,167,259
193,463
212,858
$500,000
$0
$
462,338 $ 499,288
12/31/2013
12/31/2014
12/31/2015
ADMINISTRATION
J. Robert Young
LOAN OPERATIONS
Glen Jammaron
Kris Gardner
Chairman
Vice Chairman/President
Chief Administration Officer
Chief Financial Officer
Eric Gardey
Margo Young-Gardey
Darlene Livsey
Patrick McKibben
Debbie Lundin
Taylor Schlepp
Scott Parr
Secretary/Treasurer
Vice President
HR / TRAINING
Kristi Shelton
Senior Vice President
Banking Officer
LEGAL
Susie Wright
Assistant Vice President
Bob Emerson
Bank Attorney
Banking Officer
CREDIT REVIEW
Joe Scofield
Regional President
Chief Lending Officer
Vice President
President
Tracy Stanfield
Keri Harwell
Senior Vice President
Senior Vice President
Debbie Torrey
Patti Chamberlain
MORTGAGE
Dave Roberts
President
Vice President
Assistant Vice President
Senior Vice President
Denise Vogel
Assistant Vice President
Sharon Hayes
Lee Ann Bown
Cheri Brown
Ryan Gearhart
Vice President
Assistant Vice President
Vice President
Banking Officer
COMMERCIAL CREDIT MANAGEMENT
Rachel Gerlach
President
Executive Vice President
Willits
Farrah Roberts
Tom Krabacher
Brenda Brock
Laura Bounds
Lindsay Nash
Robin Henley
Jamie Woodworth
RISK MANAGEMENT
Karla Felkey
Dan Niedbalski
Vice President
Grand Junction
Vice President
Glenwood Springs
Senior Vice President
Steamboat Springs
Banking Officer
Copper Mountain
Vice President
Grand Junction
Banking Officer
Avon
OPERATIONS
RETAIL
Thomas Kenning Ervalene Samuelson
Chief Operations Officer
Tony Bergman
Executive Vice President
Douglas Merrell
Senior Vice President
Assistant Vice President
Assistant Vice President
Mary Chavez
Carmen Baldizan
Jeff Boardman
Jessica Miller
Ross Bentzler
Banking Officer
Banking Officer
Assistant Vice President
Banking Officer
Doreen Roberts
Jeff Mozingo
Senior Vice President
Vice President
Tom Snyder
Assistant Vice President
Glenn Davis
Michael Baker
Tim Adams
Julie Allmon
Chief Retail Officer
Executive Vice President
Senior Vice President
Senior Vice President
David Miller
Wanda St. Pierre
Cindy Brown
Kjerstin Hill
Adam Dentlinger
Gena Cooper
Daniel McCaslin
Julia Prejs
Seth Ashton
Senior Vice President
Alan Sandberg
Vice President
Vice President
Vice President
Vice President
Kevin Chesney
Assistant Vice President
WEALTH MANAGEMENT
PROGRAM MANAGEMENT
Executive Vice President
Rose Fraser
Chris Brown
Vice President
Andrew Karow
Regional President
Amanda Miller
Banking Officer
Senior Vice President/Manager
Banking Officer
Vice President
Banking Officer
Vice President
ROARING FORK VALLEY
Steve Briggs
Regional President
Erlinda Morehead
Senior Vice President
Aspen
Bill White
President
Aspen
Pete Yang
Senior Vice President
Aspen
COLORADO RIVER VALLEY
Mary Ryerson
Paulette Dangler
Doug Peate
Stefan Reveal
Senior Vice President
Aspen
Senior Vice President
Aspen
Senior Vice President
Aspen
Vice President
Aspen
Jay Rickstrew
Regional President
Angela Meraz
Senior Vice President/Manager
New Castle
Bill Sanderson
Kent Wilson
President
Glenwood Springs
Senior Vice President
Glenwood Springs
Joy Wentzel
Shelbi Bauer
Executive Vice President
Rifle
Jody Baehr
Banking Officer
Glenwood Springs
Banking Officer
Rifle
MESA COUNTY
Jean Moore
Banking Officer
Aspen
George Hart
President
Snowmass Village
Drew Detrick
Vice President
Snowmass Village
Carol Dresser
Vice President
Snowmass Village
Clay Tufly
Regional President
Michelle Bates
Banking Officer
Snowmass Village
Yuani Ruiz
Senior Vice President
Basalt
Jenny Sauer
Assistant Vice President
Basalt
Assistant Vice President
Willits
Dan Markoya
Assistant Vice President
Willits
Ian Bays
President
Carbondale
President
Willits
Scott Burnham
Vice President
Carbondale
Ben Van Hoose
Vice President/Manager
Clifton
Erkko Alm
Vice President
Carbondale
Nathan Knoll
Senior Vice President/Manager
Grand Junction Mall
Garret Jammaron
President
Grand Junction
Justin Menge
Brenda Bryant
Trevor Johnson
Tara Bunnell
Vice President/Manager
Grand Junction
Vice President
Grand Junction
Antony Thompson
Assistant Vice President
Grand Junction
Christine Bostick
Aaron Miller
Tom Oliver
Vice President/Manager
Fruita
Senior Vice President/Manager
Horizon Drive
Vice President
Horizon Drive
SAN JUAN
Andrew Karow
Regional President
Dennis Alexander
Senior Vice President/Manager
Ouray/Ridgway
VAIL VALLEY
Chris Maughan
President
Telluride
Barbara Wolfe
Assistant VP/Manager
Delta
Danny Craft
Todd Baize
Tyler Dahl
Jeremy Russell
Senior Vice President
Telluride
Senior Vice President/Manager
Montrose
Vice President
Telluride
Banking Officer
Montrose
Michael Brown
Regional President
Senior Vice President
Avon
Vice President/Manager
Avon
Brian Nestor
Andrew Zaback
Grant Murphy
Michael Glass
Zane Gearhart
Brad DeGraff
Vice President/Manager
Eagle
Julie Herr
President
Vail
Banking Officer
Vail
Banking Officer
Avon
Banking Officer
Vail
STEAMBOAT SPRINGS
Allison Nadel
Assistant Vice President
East Montrose
Adonna Allen
President
DURANGO
Michael Burns
Regional President
Brian Rose
Vice President
Eric Eicher
Executive Vice President
Nick Johnson
Assistant Vice President
Beth Drum
Laura Shelton
Erin Dale
Lauren Ziesel
Senior Vice President
Assistant Vice President
Vice President
Banking Officer
Lily Lewis
Banking Officer
David High
Vice President
Alice Klauzer
Assistant Vice President
Adam Alspach
Assistant Vice President
LOCATIONS
SUMMIT COUNTY
Larry Reavis
Regional President
Noel Hansen
Vice President
Frisco
Matthew Hanson
Vice President/Manager
Breckenridge
Merle Klocke
Senior Vice President
Dillon
Tatsiana Miller
Assistant Vice President
Dillon
Brian Blankenmeister
Assistant VP/Manager
Frisco
DENVER
Norman Franke
Regional President
Charles Kercheval
Executive Vice President
Cherry Creek
Matt Teeters
President
Union Station
Karrie Fletcher
Senior Vice President
Cherry Creek
Jason Fletcher
Vice President
Union Station
Austin Jones
Banking Officer
Union Station
Aspen
(970) 920-4800
Aspen Business Center
(970) 544-9400
Avon
(970) 949-3333
Basalt
(970) 927-3101
Battlement Mesa
(970) 285-7100
Breckenridge
(970) 453-4929
Carbondale
(970) 963-3040
Clifton
(970) 434-5600
Copper Mountain
(970) 968-2154
Delta
(970) 874-0922
Denver - Cherry Creek
(303) 270-0101
Denver - Union Station
(303) 573-0709
Dillon
(970) 468-4701
Durango
(970) 375-7689
Durango - Three Springs
(970) 426-7166
Eagle
(970) 328-1666
Edwards
(970) 926-4811
Frisco
(970) 668-0186
Fruita
(970) 858-7473
Glenwood Springs
(970) 945-2424
Glenwood Springs - West
(970) 945-9700
Grand Junction - Downtown
(970) 243-5600
Grand Junction - Horizon Drive
(970) 242-5700
Grand Junction - Mesa Mall
(970) 243-5200
Gypsum
(970) 524-1666
Montrose
(970) 240-0900
Montrose - East
(970) 249-0400
New Castle
(970) 984-2600
Ouray
(970) 325-4200
Ridgway
(970) 626-4100
Rifle
(970) 625-9610
Rifle - South
(970) 625-6650
Snowmass Village
(970) 923-3600
Snowmass Village - Mall
(970) 923-0060
Steamboat Springs
(970) 871-1901
Telluride
(970) 728-5050
Vail
(970) 476-8700
Willits
(970) 927-3653
Mortgage
(877) 886-3171
Alpine Bank Wealth Management
(877) 808-7878