Alpine Banks Q3 Net Income Rises 8.6% to $20.1M as Margin Expands
ALPIB sits 53% above its 52-week low of $31.32.
Summary
Q3 net income came in at $20.1 million, up 8.6% from $18.5 million a year ago and slightly above the $19.9 million reported for Q2. EPS was $1.26 versus $1.16 a year earlier. The margin story is the driver: net interest margin widened to 3.96% from 3.54% a year ago and 3.85% last quarter, helped by a 30 basis point drop in deposit costs to 1.74% and loan growth of 6.9% year-over-year to $4.5 billion. The blemishes are cost and credit: noninterest expense jumped $6.1 million year-over-year to $51.9 million, and nonperforming loans to total loans climbed to 0.34% from 0.21% a year ago, though net charge-offs stayed low at 0.04% annualized. Capital remains solid with a 17.08% total risk-based capital ratio and tangible book value per share of $38.10, up from $34.45 a year ago. The release also disclosed leadership changes — Jay Rickstrew as Vice Chairman and Bank President and Matt Teeters as Chief Retail Officer — and a planned Littleton, Colorado branch for Spring 2027.
At the time of this announcement, ALPIB was trading at $48.00 on OTC in the Finance sector, with a market capitalization of approximately $766.2M. The 52-week trading range was $31.32 to $50.87. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.